Housing Wire

AUGUST 3, 2023

HSBC Bank USA on Tuesday disclosed that it is facing an investigation from the U.S. Department of Housing and Urban Development (HUD) for alleged redlining practices. The federal investigation is based on a complaint filed by the non-profit organization National Community Reinvestment Coalition (NCRC). According to filings with the Securities and Exchange Commission (SEC), HUD is investigating whether “HSBC Bank USA violated the U.S.

Lending 370

Lending Mortgage Development Marketing 370

Real Estate News

AUGUST 3, 2023

Amid falling revenue and elusive net profits, the company plans to pilot a program to give agents "the lion’s share of the commission on self-sourced sales.

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Agents 220

Housing Wire

AUGUST 3, 2023

Too many real estate agents are watching artificial intelligence (AI) from the sidelines, assuming technology will never replace them. They repeat the mantra “Home buyers and sellers will always need a real estate agent.” Yet, even the most brilliant leaders in AI have a difficult time envisioning how AI will transform the world in five years. So how can real estate agents be so cavalier about their job?

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Real Estate Agent Real Estate Agents Tools 370

Real Estate News

AUGUST 3, 2023

The Eighth Circuit Court of Appeals upheld a ruling denying HSA’s motion to force arbitration in the Sitzer/Burnett case, scheduled for trial in October.

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Housing Wire

AUGUST 3, 2023

Opendoor continued to feel the market’s headwinds in the second quarter of 2023, which led to fewer homes sold and lower revenues in the period. But the iBuyer greatly reduced its operating costs, delivered a profit, and increased its home purchases in the quarter. The iBuyer recorded a net income of $23 million from April to June, compared to a net loss of $101 million in the previous quarter and a net loss of $54 million in the same quarter last year, per Securities and Exchange Commi

Inventory 370

Inventory Contracts Sellers Housing Market 370

Real Estate News

AUGUST 3, 2023

The company reported a net income of $9.4 million, slightly below expectations, while its agent count grew by 7%.

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Agents 224

Real Estate News

AUGUST 3, 2023

Freddie Mac put the average 30-year fixed-rate mortgage at 6.9% this week, just below the peak seen in mid-July.

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Mortgage 214

Housing Wire

AUGUST 3, 2023

An October trial in federal court for one of the many commission lawsuits is imminent after HomeServices of America lost a recent appeal. The 8th Circuit Court of Appeals’ three-judge panel concurred with a lower district court’s decision that HomeServices is not permitted to enforce arbitration agreements signed by seller clients of franchisees under its authority.

Realtors 370

Realtors Real Estate Sellers Buyers 370

Real Estate News

AUGUST 3, 2023

The top iBuyer hopes scaling home purchases, improving margins on home deals and leveraging partnerships will fuel its return to positive net income.

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Housing Wire

AUGUST 3, 2023

Black Knight reported slimmer profits and slowing organic growth in the second quarter, largely due to weaker mortgage volume from clients as well as near-term effects from the proposed merger deal with Intercontinental Exchange (ICE). The company’s profit dropped 61% quarter over quarter to $55.3 million in Q2 2023. Profit rose 32% from $40.3 million in Q1 2023. “Our second quarter results reflect a weaker than expected mortgage market coupled with the near-term effects of the propo

Clients 370

Clients Mortgage Development Marketing 370

Inman

AUGUST 3, 2023

Joseph Magsaysay will join Compass' leadership as the brokerage looks to enhance its luxury presence in Silicon Valley. Magsaysay said he's developed a "people first" leadership strategy.

Agents 148

Agents Brokerage Development 148

Housing Wire

AUGUST 3, 2023

Rocket Companies , the parent of Rocket Mortgage , returned to profitability in the second quarter of 2023 driven by an increase in the purchase mortgage market share and expense cuts in business lines that aren’t profitable. The Detroit-headquartered lender’s GAAP net income in Q2 was $139 million, an improvement from GAAP net loss of $411 million in 2023 Q1.

Clients 370

Clients Business Inventory Mortgage 370

Eyes on Housing

AUGUST 3, 2023

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by FHA loans climbed from 12.1% (revised) to 14.0% in the second quarter of 2023. It is the largest share since Q1 2021 but roughly three percentage points lower than the post-Great Recession average. Conventional loans financed 73.7%.

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Finance Lending Marketing Mortgage 148

Housing Wire

AUGUST 3, 2023

@properties announced the promotion of Branden Lopez to the position of General Counsel. This move comes as @properties aims to expand its business and enhance legal support across its portfolio of enterprises. Lopez, who joined @properties in November 2022 as Director of Legal, has proven herself as a key member of the leadership team for @properties and Christie’s International Real Estate.

Legal 370

Legal Law Real Estate Brokerage 370

Inman

AUGUST 3, 2023

The ruling against HomeServices of America in federal court on Wednesday sets the stage for a likely Oct. 16 start for the first of two highly anticipated bombshell commission trials later this year.

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Realtors Brokerage Agents 148

Housing Wire

AUGUST 3, 2023

Lamacchia Realty recently announces two significant mergers, marking an expansion for the company. Firstly, they are joining forces with Right Choice Real Estate , a well-known legacy brokerage in Massachusetts and Rhode Island for over 25 years. Founders Ron and Dawn Rusin will remain actively involved in running the office while focusing more on growing their real estate sales businesses as Lamacchia Realty takes charge of management-related tasks.

Realty 370

Realty Brokerage Marketing Real Estate 370

Inman

AUGUST 3, 2023

Expect expert insights as these eight iconic leaders take the stage at Luxury Connect. From groundbreaking sales tactics to visionary marketing strategies, these trailblazers have redefined what success looks like in luxury real estate.

Real Estate 147

Real Estate Marketing Brokerage Agents 147

Housing Wire

AUGUST 3, 2023

Kofi Nartey, a top real estate broker with a client list of celebrities and prominent athletes, has joined The Real Brokerage as a national growth leader. In his new position, he will help build visibility for the brand, attract more agents as well as drive agent’s performance through coaching and development. “I will use my platform and national voice to draw more people not just to the industry, but to the opportunities to grow within the industry that The Real Brokerage presents,” Nartey tol

Brokerage 370

Brokerage Real Estate Agents Development 370

Inman

AUGUST 3, 2023

Will the partial elimination of affirmative action in elite college admissions eventually impact representation, access and opportunity in the real estate industry? Watch Dr. Lee Davenport's conversation with Spelman College professor, Dr. Francesina R. Jackson.

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Real Estate Agents 147

Eyes on Housing

AUGUST 3, 2023

According to the Federal Reserve Board’s July 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the second quarter of 2023—banks reported that lending standards tightened for all residential real estate (RRE) and commercial real estate (CRE) loan categories. Demand for RRE and CRE loans weakened across all categories over the quarter.

Lending 147

Lending Loan Officers Real Estate Construction 147

Inman

AUGUST 3, 2023

Redfin's second-quarter revenue declined 21 percent year over year to $275.6 million, as gross profits from its real estate services took a tumble amid a harsh housing market, according to an earnings call Thursday.

Real Estate 146

Real Estate Housing Market Marketing Technology 146

GoForrmz

AUGUST 3, 2023

Originally published on 10/15/2015 Need a mobile app to kickstart your mobile workforce? Look no further – here are the top 8 apps you should consider today The prevalence of smartphones and tablets in the workplace has reached an all-time high, requiring field teams to adapt and evolve into a mobile workforce. To empower field teams with the necessary resources for enhanced efficiency and productivity, incorporating mobile technology, such as mobile applications, can make a significant differen

Project Management 143

Project Management Construction Business Technology 143

Inman

AUGUST 3, 2023

Embracing the digital shift is not only essential for survival but also offers immense opportunities for growth and success in the real estate market of the future, writes Victoria Kennedy, CEO of Atman Real Estate.

Real Estate 146

Real Estate Marketing Business Investing 146

Appraiserblogs

AUGUST 3, 2023

The study also found that the PAREA program is not as effective in providing a more accessible pathway to licensure as the traditional apprenticeship model. Practical Applications of Real Estate Appraisal (PAREA) is a program that aims to revolutionize the real estate industry by increasing the number of appraisers. However, after listening to the Appraisal Institute speaker at yesterdays board meeting it quickly became evident that this initiative is a complete failure.

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Real Estate Training Appraisal 126

Inman

AUGUST 3, 2023

In these times, double down — on your skills, on your knowledge, on you. Join us Aug. 8-10 at Inman Connect Las Vegas to lean into the shift and learn from the best. Get your ticket now for the best price. Are you receiving Inman’s Broker Edge? Make sure you’re subscribed here.

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Empire Appraisal Group

AUGUST 3, 2023

NEWS & MEDIA Bilanol/Getty Images Plus Source: [link] Study: Real Estate Hot in Hurricane Ian-Hit Areas By Kerry Smith Storms rarely have a long-term effect on the local real estate market. Cape Coral-Fort Myers listings dropped for two months after Ian but rose for the six after that. FORT MYERS, Fla. – After plunging in the wake of last fall’s Hurricane Ian, home listings in the Cape Coral-Fort Myers metropolitan area have recovered, and sales have begun to bounce back, according to a repo

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Real Estate New Listings Real Estate Agent Insurance 78

Inman

AUGUST 3, 2023

While the brokerage's overall head count rose modestly to 144,510 agents in the second quarter, its agent count declined in the U.S. by 6.3 percent, to 56,987, according to a Q2 earnings call Wednesday.

Agents 144

Agents Brokerage Marketing 144

Appraisal Partners Blog

AUGUST 3, 2023

The post Market Update Webster Groves Missouri August 2023 appeared first on Appraisal Partners.

Marketing 78

Marketing Appraisal 78

Inman

AUGUST 3, 2023

Zillow's new product represents a new business model — from pay-per-lead to pay-per-listing — that mirrors the way profitable international peers monetize their market-leading positions.

Agents 144

Agents Business Marketing 144

BiggerPockets

AUGUST 3, 2023

Real estate investing advice is everywhere, especially from people who don’t invest. You’ve seen the financial influencers screaming, “Don’t buy!” or “Wait for the crash!

Real Estate 63

Real Estate Investing Marketing 63

Inman

AUGUST 3, 2023

The popular vacation-rental platform dragged down the results of its parent company Expedia Group in the second quarter of the year, according to an earnings call Thursday.

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Investing 145

Mashvisor

AUGUST 3, 2023

To run a successful short term rental business, hosts need to know everything about Airbnb insurance, from what it is to how it works.

Insurance 69

Insurance Investing Business Investors 69

Inman

AUGUST 3, 2023

Revenue for the company grew to $2.5 billion in the second quarter buoyed by a growth in demand that was surpassed by a growth in supply, according to an earnings report released Thursday.

Marketing 143

Marketing 143

Lamacchia Realty

AUGUST 3, 2023

August 2, 2023 – Lamacchia Realty’s expansion into the Cape Cod and Bristol County markets has been featured in a recent article from Inman. The piece discusses the brokerage’s recent joining of forces with Foley Premier Properties in Falmouth, MA , and Right Choice Real Estate in Fall River, MA. You can read the whole article by clicking here , or on the picture to the right.

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Realty Marketing Real Estate Brokerage 56