Fri.Nov 10, 2023

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Commission lawsuits spread to Manhattan

Housing Wire

It appears that no real estate brokerage firm in the U.S. is safe from a commission lawsuit. On Wednesday, Manhattan home seller Monty March filed a lawsuit in U.S. District Court in the Southern District of New York, alleging that Real Estate Board of New York rules governing the multiple listing service in Manhattan kept commissions high and violated state and federal antitrust laws.

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Brokerage on a mission gives millions back to military families

Real Estate News

In a Navy town, McKenzie Better Homes and Gardens Realty supports military families and veterans with more than the typical real estate services.

Brokerage 260
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5 best practices for improving the home equity lending experience

Housing Wire

With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. But it’s not all grim news. While the current climate may be causing existing-home sales and inventory to fall, it’s driving renewed interest in home equity options. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.

Lending 450
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Commissions verdict casts a long shadow over Q3 earnings

Real Estate News

Zillow, Redfin and CoStar assured investors that they can withstand “massive disruption,” while others discussed efficiencies and even some avenues for growth.

Investors 244
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All-cash transactions gain traction amid high mortgage rates: Redfin

Housing Wire

In September, all-cash purchases represented one-third of the U.S. home purchases, compared to 29.5% a year ago, according to a Redfin report. It’s the highest share of all-cash transactions recorded since 2014. Cleveland posted the highest share of all-cash purchases in September, reaching 49.2% of all transactions. West Palm Beach and Jacksonville in Florida followed with 49% and 46.2%, respectively.

Mortgage 441
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New lawsuits crop up to challenge agent compensation

Real Estate News

Cases in South Carolina, New York and Chicago pit consumers against NAR, REBNY, Keller Williams and other top real estate companies.

Agents 254

More Trending

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Commission lawsuits are piling up. Keep track of them all right here

Inman

In the wake of the Sitzer | Burnett verdict, the number of bombshell lawsuits has rapidly multiplied — putting more pressure than ever on real estate's status quo. Here's a rundown of all the cases.

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Commission lawsuits pile up: NAR, Keller Williams named in new South Carolina case

Housing Wire

Another day, another commission lawsuit — this time in South Carolina. On Monday, plaintiff Shauntell Burton filed a federal antitrust lawsuit in the U.S. District Court in South Carolina, alleging that the National Association of Realtors (NAR) and Keller Williams colluded to artificially inflate agent commission rates, increasing costs for home sellers.

Sellers 432
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This is your call to action: The new future of real estate starts now

Inman

Now is the time when connections serve as the bridge to the future. Inman Connect is more than a name; it's a call to action. It's an opportunity to collaborate beyond individual brands, connect ideas, forge partnerships, and navigate the transformative terrain of the real estate industry.

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Fidelity and Doma report Q3 title earnings

Housing Wire

Fidelity National Financial finished out third-quarter earnings reporting for the Big Four title firms this week, hosting its earnings call with investors and analysts Wednesday morning. While the firm’s title revenue was down 18% year over year to $1.9 billion, firm executives noted that it was in line with historical levels reported in 2018 and 2019.

Investors 410
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South Carolina homesellers latest in line to sue NAR, Keller Williams

Inman

A new commission lawsuit filed Monday seeking class-action status alleges sellers encountered "illogical, harmful, irrational and anticompetitive effects" of NAR's cooperative compensation rule.

Sellers 187
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Demand Falls, Standards Remain Tight for Real Estate Loans in Q3 2023

Eyes on Housing

According to the Federal Reserve Board’s November 2023 Senior Loan Officer Opinion Survey (SLOOS), lending standards tightened for all commercial real estate (CRE) loan categories and most residential real estate (RRE) categories in the third quarter of 2023. Moreover, demand for RRE and CRE loans weakened across all categories over the quarter. A higher net percentage of banks reported tighter.

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‘Property IQ’ at the heart of Plunk’s latest integration

Inman

In what could be considered a no-brainer in terms of protech partnerships, users of BHR’s extensive home intelligence reports will see their industry IQ jump a few points with the addition of Plunk’s AI-powered market analytics.

Marketing 190
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Biden Administration Plans to Repurpose Commercial Properties Into Residential Units to Improve Affordability—Will It Work?

BiggerPockets

Last month, the Biden administration announced a series of actions designed to facilitate the conversion of specific properties to improve affordability in several metros. Here are the details.

Design 85
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Better partners with Infosys to power mortgages for other lenders

Inman

Better, which has had a strategic partnership with Ally Bank since 2019, is looking to partner with more lenders by launching a white-labeled "mortgage-as-a-service" platform with Infosys.

Mortgage 190
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Rookie Reply: How to Find RARE Rentals by Buying Properties in Preforeclosure

BiggerPockets

Finding an investment property in preforeclosure can feel like uncovering a diamond in the rough, as the seller may be more motivated to get a deal done faster and for […]

Sellers 74
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New commission lawsuit targets REBNY and 26 companies in NYC

Inman

Homeseller Monty March filed suit in the Southern District of New York Wednesday, alleging REBNY rules in Manhattan kept commissions high and violated state and federal antitrust laws.

Law 184
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Christine Miranda Named Lamacchia Realty’s Employee of the Month – October 2023

Lamacchia Realty

Behind the incredible REALTORS® of Lamacchia Realty is a team of over 75 staff members that work tirelessly to support, propel, and operate the independently owned brokerage. Each and every staff member plays an integral role in the continued success of the quickly growing company. Lamacchia Realty views its staff members in the highest regard, fostering the values the full service, value-based brokerage prides itself on.

Realty 72
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Turn your database into an ATM. 6 rules to ENGAGE

Inman

Jimmy Burgess shares this step-by-step program to help you make the most of your sphere of influence and incoming leads so that you have a never-ending supply of real estate clients.

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Wells Fargo Warns of a 1980s-Style Recession—How Bad Could It Get?

BiggerPockets

Several large banks are preparing for a recession, but this bank added context to what it will look like. Here's what they said.

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Lone Wolf’s marketing center released, 1st ‘new gen’ product

Inman

In the first release of its “next generation” of real estate software, Lone Wolf Technologies unveiled this week a multi-tiered marketing center.

Marketing 197
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MLS Access for Investors: What You Need to Know

Listing Spark

Real estate investing can be a profitable industry. Buying and holding rental properties, purchasing raw land in areas with predicted growth, and flipping run-down properties in popular neighborhoods are all excellent business avenues. In fact, despite rising prices and high levels of competition, flippers saw a gross profit of 27.5% in Q2 2023. But seeing that high ROI is completely dependent on having the right strategies for securing properties, fixing them up, and selling them to buyers.

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The verdict fallout: Inman’s Top 5 stories of the week

Inman

With Inman Top 5, you'll find the week's most essential stories, as chosen by our readers. Here are the most-read articles for Nov. 3-9, 2023.

Agents 180
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10 Best Net Worth Trackers in 2024

BiggerPockets

Tracking your net worth can help you make informed financial decisions. Here are the apps we'd recommend for real estate investors.

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‘Dancing with the Stars’ taught Mauricio Umansky to empathize

Inman

Of his recent six-week run on the reality dance competition, Umansky said he learned a lesson in empathy when it comes to teaching others a challenging new skill.

Agents 175
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Rates not likely to return to pre-pandemic lows, says BoC's Rogers

Mortgagebroker News

Global demographic and geopolitical factors represent potential upward pressures on interest rates, says BoC's senior deputy governor

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Is It Possible to Dollar-Cost Average Real Estate Just Like Stocks?

BiggerPockets

Dollar-cost averaging isn't the most sexy thing in investing, but it's certainly a great way to build wealth. But can you do it in real estate?

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Over $2.5 trillion of opportunity ahead in Canada's purchase market: CEO

Mortgagebroker News

Two big factors are set to spur rising demand in the coming years, says broker network head

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Mastering Home Upkeep: A Guide to Creating an Effective Maintenance Schedule

Eppraisal

Owning a home is a significant investment, and like any valuable asset, it requires regular care and maintenance to ensure it stands the test of time. A well-maintained home not only enhances its curb appeal but also prevents costly repairs down the line. In this guide, we'll explore the importance of proper home upkeep and provide a step-by-step approach to creating a comprehensive maintenance schedule.

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What city type does Gen Z gravitate towards in its homebuying preferences?

Mortgagebroker News

The demographic is set to be an influential cohort in Canada's housing market in the coming years

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Freddie Advice: How to Avoid Using “Bad” Words

Appraisal Today

More Objective Appraisals: A Practical Guide for Appraisers By Scott Reuter Single-Family Chief Appraisal Officer, Freddie Mac Excerpts: Changing the Mindset – Facts First What’s the number one thing appraisers should be doing when they develop an appraisal? Stick to the facts. Here are a few more best practices that can help appraisers achieve more objective appraisals.

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Is there room for optimism in Canada's mortgage market?

Mortgagebroker News

Times are tough – but better days could be on the way

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HOMEOWNERS ASSOCIATIONS AND FAIR HOUSING RISKS

Will Springer Realtor

Here we are again, facing a protracted geo-political battle that has repercussions around the globe. Nineteen months after the start of the Russia-Ukraine war , Israelis and Palestinians are in an escalating conflict that has been percolating for many decades. Prayers for the tens of thousands who have died, as well as the many refugees, disaster survivors and their families affected by the conflict in Israel and the Occupied Territories.

HOA 36
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Interest rates, inflation weighing down on consumer spending: RBC

Mortgagebroker News

Current signs point to softening economic activity and slowing price growth, new RBC report suggests

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