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Study: Real estate firms thrive on repeat and referral business

Housing Wire

Referrals from past and repeat customers still generated the greatest number of inquiries for real estate firms in 2020 with 30% of brokerage business coming from this source, the same amount as in 2018, when the survey was last completed. In 2018, 1% of surveyed brokerages said their business came from open houses.

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9 Things Clients Expect from Their Real Estate Agent

McKissock

Part of knowing your audience as a real estate agent is anticipating what they need and expect from your services. Without accounting for your real estate clients’ common needs and expectations , you might be underperforming and risk losing their business. Help Get a Client Pre-Approved for Lending.

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CFPB: lenders engaged in redlining, reported bad data

Housing Wire

The watchdog agency found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans. In the lender’s direct marketing and open house materials, the models were white.

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3 mortgage industry trends that will define the rest of 2021

Housing Wire

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. With competition and, by extension, housing prices being extraordinarily high, prospective homebuyers can counterbalance this by locking in a low rate. Push for tech.

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What to do when your buyer wants to make a lowball property offer

Housing Wire

Speak with their lender to ensure you’re fully understanding their situation, especially as interest rates and lending standards change all the time. Tim and Julie Harris host a podcast for real estate professionals. Revisit your client’s qualifications Review your buyer’s qualifications prior to putting your offer together.

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How 2020 raised the stakes for the mortgage industry

Housing Wire

Sure, new online lending operations like SoFi, Better and a handful of others are taking advantage of their lack of traditional infrastructure. Digital lending is easier for companies that were born in the cloud. The cloud has helped to accelerate online and virtual processes extending into every step of the lending process.

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As the market shifts to purchase, LOs get creative

Housing Wire

LOs interviewed by HousingWire say that they have actively ramped up their attempts to connect with prospective borrowers and real estate agents. And though there are many creative avenues to get purchase business, cold calling and appearing at open houses to connect with real estate agents is here to stay, LOs told HousingWire.

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