Housing Wire

OCTOBER 31, 2023

A Kansas City jury has found the National Association of Realtors , HomeServices of America and Keller Williams guilty of colluding to inflate or maintain high commission rates through NAR’s Clear Cooperation Rule, in the Sitzer/Burnett buyer broker commission lawsuit. The defendants have been ordered to pay damages of $1.78 billion. The jury reached its verdict after a little over two weeks of testimony from the plaintiffs and defendants.

Brokerage 545

Brokerage Realtors Sellers Buyers 545

Sacramento Appraisal Blog

NOVEMBER 1, 2023

Pricing low on purpose can be a triggering issue. I know both buyers and agents can get extremely frustrated to have to enter a bidding war. And let’s not even talk about auction platforms. But pricing low is pretty much the norm in the Bay Area. People have always told me that, and I finally […] The post Pricing low on purpose: Bay Area vs Sacramento first appeared on Sacramento Appraisal Blog.

Agents 361

Agents Buyers Appraisal Housing Market 361

Real Estate News

OCTOBER 31, 2023

After less than three hours of deliberation, the jury ruled for the plaintiffs in the landmark Sitzer/Burnett trial, awarding nearly $1.8 billion.

Sellers 363

Sellers 363

Inman

NOVEMBER 3, 2023

After breaching 8 percent in mid-October, 30-year fixed mortgage rates have plummeted to levels not seen since September as more investors expect Fed policymakers to lower rates in the spring.

Mortgage 205

Mortgage Investors Marketing 205

Housing Wire

NOVEMBER 3, 2023

When it comes to marketing your real estate business, video is king. Global statistics from 2023 show that people watch videos an average of 100 minutes a day, with millennials — the largest share of homebuyers in the U.S. — spending 10 to 20 hours a week watching videos. From short Instagram reels to longer videos on YouTube , video is here to stay.

Real Estate 540

Real Estate Business Marketing Real Estate Agent 540

Eyes on Housing

OCTOBER 31, 2023

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 66% in the third quarter of 2023, amid persistently tight housing supply and elevated mortgage interest rates. The homeownership rate remained statistically unchanged from the second quarter reading (65.9%). Compared to the peak of 69.2% in 2004, the homeownership rate is 3.2 percentage points lower and remains.

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Mortgage 183

Inman

OCTOBER 31, 2023

Jurors on Tuesday shocked the real estate industry, awarding damages adding up to $5.36 billion to homesellers after deliberating for 2 hours and 28 minutes.

Real Estate 212

Real Estate Realtors Brokerage Agents 212

Housing Wire

OCTOBER 28, 2023

If I had told you on Dec. 31, 2022, that mortgage rates would hit 8% in 2023, you would reasonably assume housing inventory would sky rocket higher, home prices would fall noticeably, and the number of price cuts would be higher year over year. Instead, the opposite has happened: home prices nationally hit an all-time high, inventory is still down year over year and the percentage of price cuts is 4% below last year’s level.

Inventory 508

Inventory Mortgage New Listings Marketing 508

Eyes on Housing

NOVEMBER 1, 2023

The Federal Reserve’s monetary policy committee held the federal funds rate at a top target rate of 5.5% at the conclusion of its November meeting. While noting that the Fed was “strongly” committed to reducing inflation to its target rate, this marked the second meeting in a row of no increase as the central bank examines incoming data. The Fed’s.

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Real Estate News

NOVEMBER 1, 2023

The home search giant’s latest acquisition will help support its “housing super app," said Chief Industry Development Officer Errol Samuelson.

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Development 313

Inman

OCTOBER 30, 2023

The desire for uniqueness is driving a rising demand for historic homes in the luxury real estate sector. Buyers today love the character and craftsmanship that a historical property exudes, and want a home that expresses their one-of-a-kind personality and preferences.

Buyers 192

Buyers Agents Real Estate 192

Housing Wire

NOVEMBER 3, 2023

The jobs report today which should move mortgage rates lower, demonstrates why it’s time for the Federal Reserve to land the plane. The labor market doesn’t show wages spiraling out of control as it did in the 1970s because the inflation data doesn’t look like anything in the 1970s. We had a solid job openings print this week and jobless claims are still near historic lows.

Mortgage 496

Mortgage Government Marketing 496

Eyes on Housing

NOVEMBER 3, 2023

Job growth decelerated in October. Total nonfarm payroll employment increased by 150,000 and the unemployment rate edged up to 3.9% in October from 3.8%. The labor market is cooling. The Fed held interest rates steady for the second meeting in a row at the conclusion of its November meeting. This month’s employment data will be one of the key components.

Marketing 158

Marketing Construction 158

Real Estate News

NOVEMBER 2, 2023

After steadily climbing this fall, average rates — which have been hovering near 8% — inched down this week, but continued fluctuations are likely.

Mortgage 290

Mortgage 290

Inman

OCTOBER 30, 2023

Whether you're saving for something big or trying to figure out how to stay in real estate until the market turns, Erin McCormick Torres offers tips to help you develop new streams of income.

Real Estate 192

Real Estate Development Marketing Agents 192

Housing Wire

NOVEMBER 2, 2023

The National Association of Realtors’ longtime CEO Bob Goldberg is leaving the trade association, multiple sources with knowledge of the situation have confirmed to HousingWire Thursday morning. “We are immensely grateful for Bob’s leadership and decades-long service to NAR,” Tracy Kasper, current NAR president, said in a statement. “It has been a privilege to work with him in expanding and strengthening our organization, and we congratulate him on his well-deserved retirement.

Real Estate Agent 491

Real Estate Agent Realtors Real Estate Development 491

Appraiserblogs

NOVEMBER 3, 2023

We will call it “AGENT MANAGEMENT COMPANY”. We will ensure that the use of runners is prohibited… Public trust. It’s a real thing. It appears that this recent lawsuit that the NAR LOST has exposed antitrust, collusion and price fixing between agents. I am thinking about creating a new AMC. We will call it an “AGENT MANAGEMENT COMPANY”. We will create a buffer per say between the buyers agent and the sellers agent thereby protecting the buyer and seller.

Agents 116

Agents Real Estate Agent Tenants Real Estate 116

Real Estate News

NOVEMBER 2, 2023

Nykia Wright, previously CEO of the Chicago Sun-Times, will be interim CEO. Goldberg had previously announced plans to depart in 2024.

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301

Inman

NOVEMBER 1, 2023

Zillow is shoring up its Home Loans business by ratcheting up pressure on Flex agents, who refer clients to the mortgage arm or risk losing future leads, tech advisor Mike DelPrete writes.

Agents 190

Agents Mortgage Clients Business 190

Housing Wire

NOVEMBER 1, 2023

Zillow Group has entered into an agreement to acquire CRM system , Follow Up Boss , according to an announcement on Wednesday. The acquisition purchase price includes $400 million of initial cash consideration and up to $100 million in potential cash earnout. “Follow Up Boss is beloved by agents across the industry, including many Zillow Premier Agent partners and ShowingTime+ clients.

Agents 479

Agents Clients Real Estate Investing 479

Eyes on Housing

NOVEMBER 1, 2023

Financial conditions continue to be tight, as the 10-year Treasury rate stands near 4.8% this morning. Among the factors leading to higher rates (more debt issuance, higher-for-longer monetary policy expectations, long-term fiscal deficit conditions, and strong current GDP growth data for the third quarter) is an ongoing, elevated count of open jobs for the overall economy.

Construction 103

Construction Marketing 103

Real Estate News

NOVEMBER 3, 2023

The pace of jobs and wages slowed in October, which may reduce inflation and potentially knock down mortgage rates in time for the spring selling season.

Mortgage 274

Mortgage 274

Inman

OCTOBER 31, 2023

In a final push on Monday, attorneys for real estate franchisors and the National Association of Realtors argued that homesellers in the case failed to prove a conspiracy to inflate commissions.

Realtors 190

Realtors Real Estate Brokerage Agents 190

Housing Wire

NOVEMBER 1, 2023

The real estate industry as agents and brokers know it has been turned upside down. It remains to be seen exactly what the guilty verdict in the Sitzer/Burnett commission lawsuit means for agents and brokers, as the industry waits for Judge Stephen Bough’s injunction. However, real estate brokers across the country have already begun preparing themselves, their firms and their agents for the worst.

Open Houses 479

Open Houses Brokerage Agents Realtors 479

Eyes on Housing

NOVEMBER 1, 2023

NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.6% in September, after a 1.3% increase in August. It stood at a seasonally adjusted annual pace of $872 billion. However, total private residential construction spending is still 2.2% lower compared to a year ago. The total construction monthly increase is attributed to more spending on.

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Construction 97

Real Estate News

OCTOBER 30, 2023

The lead attorney for the plaintiffs wrapped up the morning session of the Sitzer/Burnett trial with a theatrical closing argument.

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299

Inman

OCTOBER 31, 2023

The "401(k) for homeownership" helps first-time buyers achieve their goals on the way to homeownership with 4.51 percent APY high-yield savings accounts, as well as educational tools and matching opportunities with agents and lenders.

Tools 189

Tools Buyers Agents Technology 189

Housing Wire

OCTOBER 31, 2023

KANSAS CITY, Missouri — After 11 days of testimony , the eight-person jury here took just a little over two hours to decide its verdict in the Sitzer/Burnett commission lawsuit trial. It found the National Association of Realtors , HomeServices of America and Keller Williams guilty of collusion to maintain high commission rates. Despite the guilty verdict, other than having to pay nearly $1.8 billion in damages, many questions still remain about what this means for the real estate industry, a

Real Estate 479

Real Estate Landlords Law Design 479

Empire Appraisal Group

NOVEMBER 2, 2023

Valuing solar panels in a home appraisal involves several factors. Here are some key considerations: Age and condition of the solar panels: The age and condition of the solar panels can affect their value. Older panels or those that require frequent maintenance may be less valuable than newer, well-maintained panels. Energy production: The amount of energy produced by the solar panels can be a key factor in determining their value.

Appraisal 78

Appraisal Real Estate Marketing 78

Real Estate News

NOVEMBER 3, 2023

The Sitzer/Burnett verdict has the industry bracing for a sea change. But leaders at Zillow and Homes.com say MLSs add value and can’t simply be torn down.

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269

Inman

NOVEMBER 1, 2023

At virtual Inman Connect on Wednesday, Anthony Lamacchia of the Crush it in Real Estate training platform revealed the two most important points to share with clients in the current market.

Training 187

Training Real Estate Clients Marketing 187

Housing Wire

OCTOBER 31, 2023

Following July’s mini rally , home prices posted a 2.6% annual gain in August, according to the S&P CoreLogic Case-Shiller Home Price Index. Month-over-month, the U.S. National Index posted a seasonally adjusted increase of 0.9%, while the 10-City and 20-City Composites posted a 1% increase each. The August level was the highest recorded since the index began in 1987.

Inventory 479

Inventory Housing Market Contracts Realtors 479

GoForrmz

NOVEMBER 2, 2023

Don’t be left behind in a digital revolution In an ever-evolving business landscape, adaptability is the key to long-term success. As technology advances at breakneck speeds, companies must find ways to stay competitive and relevant. One way to achieve this is through a digital transformation - a process of integrating digital technologies into various aspects of business operations, from an online order form or employee evaluation template , all the way to data access logs and financial audit t

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Technology Business Training Tools 78

Real Estate News

OCTOBER 30, 2023

Atlanta–area agent Amy Fuchs says people don’t always understand how their agents are compensated, and she worries commissions lawsuits could hurt buyers.

Business 269

Business Agents Buyers 269