Mon.Nov 20, 2023

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Opinion: Sitzer/Burnett decision presents an uncertain future for buyer agents

Housing Wire

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. The Sitzer/Burnett trial out of Kansas City found the National Association of Realtors (NAR) guilty of conspiring to inflate agent commissions — sparking a debate over agent commission fees and the longstanding role of buyer agents in real estate transactions.

Agents 457
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Gratitude: a Redux

George Dell

Editor’s Note: This original Gratitude post written by George Dell appeared in The Analogue Blog on November 21, 2018. A lot has transpired in five years. (The understatement of the Century!) But our gratitude is stronger than ever after all these years. Editor’s Note: Check out the later post from November 26th, 2019 here: Does […] The post Gratitude: a Redux appeared first on George Dell, SRA, MAI, ASA, CRE.

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Court approves Anywhere, RE/MAX commission lawsuit settlements

Housing Wire

RE/MAX and Anywhere Real Estate can breathe a sigh of relief. The two corporate brokerages have received preliminary approval of their settlement agreements in the Sitzer/Burnett, Moehrl and Nosalek commission lawsuits. Judge Stephen Bough, who oversaw the Sitzer/Burnett trial last month in Missouri’s Western District, granted the settlements preliminary approval Monday morning.

Legal 431
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People on the Move: NAR's 2024 leaders take their posts

Real Estate News

After taking on the role of president a few months early, Tracy Kasper joined other officers for their gala moment at the association’s conference.

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Tracy Kasper officially installed as NAR’s new president

Housing Wire

The National Association of Realtors officially installed its new leadership team for 2024 at the trade organization’s annual conference, NAR NXT, in Anaheim, California, last week. Tracy Kasper was sworn in as the new president during the event, but she assumed the role in August 2023 (three months ahead of schedule) following the resignation of former president Kenny Parcell.

Realtors 420
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Anywhere, RE/MAX settlements receive preliminary approval

Real Estate News

The agreements, which cover multiple buyer-broker commissions lawsuits, were deemed “fair, reasonable and adequate” by the judge.

Buyers 245

More Trending

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Take the Inman Intel Index survey: November 2023

Inman

The Inman Intel Index goes beyond sentiment and trends by tapping into the most engaged community in real estate to understand what the industry is thinking today, and tomorrow.

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Opinion: Brokerage economics and the $1.8B damages in the commission lawsuit

Housing Wire

While reading about the $1.8 billion dollar damages claim assessed against the National Association of Realtors , Keller Williams and HomeServices , I wondered what impact this could have economically on the industry. I decided to break down the numbers and look at brokerage economics. Last year, nationally there were slightly over 10 million transactions of existing homes sales.

Brokerage 418
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Anywhere, RE/MAX commission lawsuit settlements move forward

Inman

A judge has granted preliminary approval of the franchisers' multimillion dollar settlements in Sitzer | Burnett, Moehrl and Nosalek. Final approval may happen next year.

Realtors 186
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Flat Readings for Single-Family Built-for-Rent

Eyes on Housing

Single-family built-for-rent construction has cooled as investor interest has pulled back on tighter financial conditions, leading to flat construction conditions after recent gains. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 17,000 single-family built-for-rent (SFBFR) starts during the third quarter of 2023.

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NAR directors confront power shift as executive committee steps up

Inman

At a Friday board meeting, a member of NAR's board of directors predicted "less authority" in 2024 as the embattled trade group's growing Executive Committee shoulders more responsibility.

Realtors 184
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Employment Situation in October: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 25 states in September compared to the previous month, while 22 states lost jobs. The District of Columbia, North Dakota, New Mexico, and Virginia reported no change. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 150,000 in October, following a gain of 297,000 jobs in September.

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Why individualized service is key in luxury real estate

Inman

The business of luxury real estate is a busy one. As agents serving the most prestigious markets, we have ambitious targets to meet and goals to achieve, and we often play the role of both the seasoned professional and savvy entrepreneur, planning for the stable, sustainable growth of our business and our brands while eagerly prospecting for emerging opportunities.

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Another ‘Bad’ Word to Avoid!

Appraiserblogs

To lighten the load somewhat from discussions about current highly restrictive language use in appraisal reports that tends to circumvent actual reality and truth – which can positively or adversely impact property market value, replaced with only generic, non-offensive words, I present this cartoon. It’s another word to avoid using: Obfuscation of real and accurate market data using correct written descriptions, replaced with wokeism to foster an unworkable ideological agenda, is one reason why

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Win dinner with Robert Reffkin in Compass’ Back to Basics challenge

Inman

Twenty-five Compass agents with the most buyer-exclusive agreements and in-person interactions after 100 days of 2024 will win a trip to NYC, lunch with Leonard Steinberg and dinner at Reffkin’s home.

Buyers 176
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Streamlining Your End-of-Year Processes with GoFormz

GoForrmz

How GoFormz can help your businesses wrap up end-of-year tasks As we’re near the end of the year, businesses are overwhelmed with many tasks to complete by January 1st. From performance reviews to preparing for tax season, these end-of-year responsibilities can stack up fast. However, with the right tools, these processes can be streamlined and easier to handle.

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7 ways to show appreciation this Thanksgiving

Inman

Don't let the negative headlines get in your head, writes coach and trainer Darryl Davis. Find out how you can come from a positive place and put your best face forward right now.

Clients 172
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High Interest Rates Have Impacted This HELOCs—But Can You Still Get One?

BiggerPockets

Stop being concerned with ROI and IRR. Stop putting yourself in speculative positions. The path to wealth is boring, and this is what you should be paying attention to.

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NAR installs President Tracy Kasper, other leaders for 2024

Inman

The National Association of Realtors installed its 2024 leadership after the board of directors meeting during its annual NAR NXT conference. Kasper started her term three months early, after the resignation of former president Kenny Parcell.

Realtors 173
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No Cash to Invest? Use THIS Side Hustle to Help Buy Your First Rental

BiggerPockets

Saving for your first rental property can take a while, but adding side hustle income could help you stockpile enough cash to buy much sooner.

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Navigating challenges in the luxury market: Insights from the experts

Inman

Top real estate agent Joyce Rey sits down with Jon Krabbe of Agent Image to delve into the current landscape of the ultra-high-end real estate market. Join us as we discuss the unique challenges faced by luxury realtors and the evolving expectations of buyers and sellers.

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Buying a Property Next Year? You Need to Do a Sensitivity Analysis Before Investing

BiggerPockets

With 2024 approaching, it's time to take a look at your investment plans next year. Before you even think about buying a property, do this first.

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EXp scoops up 60-agent RE/MAX team in Canada

Inman

Justin Havre and his 60-agent team in Calgary are the latest big names to move brokerages as big-name firms compete for top talent.

Agents 187
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Homes DO Sell During the Holidays

Lamacchia Realty

HOMES DO SELL DURING THE HOLIDAYS! Mythbuster: Homes actually DO SELL during the holiday season! Quite often, too often, in fact, REALTORS ® hear home sellers say that they want to take their home off the market for the holiday season. Their concerns usually stem from the misconception that buyers are not looking during November and December because they’re halting their search for the holidays.

Sellers 66
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What apps should I use to edit Reels on Instagram?

Inman

This week, Sue "Pinky" Benson talks through the best ways to edit video for Instagram Reels. Hint: It's not within the Instagram app.

Agents 169
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I’ve Had Enough—It’s Not About ROI, It’s About This

BiggerPockets

Stop being concerned with ROI and IRR. Stop putting yourself in speculative positions. The path to wealth is boring, and this is what you should be paying attention to.

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Rental concessions rise as new inventory comes online

Inman

Thirty percent of rentals advertised on Zillow in October offered concessions of some sort, such as free parking or free months of rent.

Inventory 176
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Broker on how being a certified teacher has prepared him for the mortgage industry

Mortgagebroker News

Anthony Venuto of CENTUM InTouch Mortgage Solutions says that both teaching and mortgage brokering have plenty of common ground

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The Secret to Saving More, Spending Less, and a Perfect Credit Score

BiggerPockets

Building wealth, saving money, getting rich—it’s much more straightforward than most people think.

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Canadian lending growth slows amid economic uncertainty

Mortgagebroker News

BDO executive on the factors impacting lenders in the current environment

Lending 71
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Housing inventory is seeing unusual gains in November. Should we be worried? 

Housing Wire

Last week, I asserted that housing inventory growth had finished for the year. Turns out I was wrong! This week, the available inventory of unsold single-family homes crept up minimally. It looks like this is evidence that housing markets are returning to normal rather than a case of sellers panicking, but it’s worth keeping an eye on. After all, more sellers means more sales in 2024.

Inventory 450
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Department of Veterans Affairs pauses VA loan foreclosures for 6 months

Housing Wire

The Department of Veterans Affairs (VA) is pausing foreclosures on homes financed with VA loans for six months to help military borrowers in danger of losing their homes, a department spokesperson said in a statement to HousingWire on Monday. The Veterans Assistance Partial Claim Payment program — which began July 2021 — allowed military borrowers to skip six or 12 mortgage payments during the COVID-19 pandemic if they had a financial hardship.

Law 512