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The role of the real estate agent has been under the microscope of late as a result of class-action litigation over agent commissions, but the feedback agents want most about their practices comes from two sources — home buyers and sellers. Help negotiating with buyers registered at just 13%.
The arrangement known as cooperative compensation allows sellers to choose to offset the cost of buyers’ agents. By making an offer of compensation, sellers communicate to buyers, as a marketing tactic, that their transaction costs may be reduced. Advocates also argue that buyers will benefit from “reduced home prices.”
-based Consumer Policy Center (CPC) warns that the common practice of percentage-based real estate commissions may be a financial disadvantage for home buyers and sellers. The report is titled How Percentage-Based Commissions Can Harm Home Buyers and Sellers and What They Can Do About It. The issue is backed by academic research.
Nearly three quarters of recent American home sellers said in a Clever survey that using a traditional real estate agent is the best way to sell. Of the 73% who said they preferred using agents, 67% believe traditional real estate agents are still the best option and 6% favor discount agents.
According to HomeLight ‘s Top Agent Insights report released this week, real estate agents are feeling this and are being forced to switch up tactics to attract buyers. HomeLight is an Arizona -based real estate platform designed to connect agents with clients. 30 and Nov. 30 and Nov.
So, let’s start with the basics: What is a real estate broker vs. an agent? To answer that, we’ll take a deep dive into the differences between the many types of real estate professionals, including a real estate agent and a real estate broker. Summary What is a real estate agent? What does a real estate agent do?
Home staging is your chance to transform a property into a home that buyers cant wait to get their hands on. As an agent, you know a beautifully staged home turns into a sold one. Buyers want to be able to see how a home will work for them. Why is home staging important? Make a strong first impression 1.
Commissions paid to real estate agents representing buyers have remained essentially unchanged since new rules on commissions went into effect on August 17 , according to a new analysis from Redfin. Buyer’sagent commissions have fallen 17 basis points since January 2023, when they averaged 2.51%.
The Department of Justice ( DOJ ) raised some eyebrows when it hinted that buyer representation agreements, if used as mandated in the National Association of Realtors (NAR) commission lawsuit settlement, may be a source of future antitrust litigation based on its statement of interest in the Sitzer/Burnett suit. And that is positive.
Compass is certainly known for luxury property sales , but the nation’s top brokerage based on sales volume is looking to offer even more support to agents working on these types of deals. On Tuesday, the firm launched Compass Resort, a network for agents in vacation-home markets and clients searching for second homes.
Despite challenges in the market, luxury agents can leverage these insights [from the mid-year report] to finish the year strong.” Those trends include buyers’ pursuit of “forever dream homes” which, according to agents, offer adaptability to grow and change alongside homeowners’ evolving lifestyles. Among specialists, 32.8%
While new social media platforms seem to pop up all the time, Facebook remains a tried-and-true platform for real estate agents to grow their business in a variety of ways. Joining and engaging with groups of fellow Realtors on Facebook should be a key tool in every agent’s toolbox. Join Lab Coat Agents 2.
Israeli startup eSelf AI has developed a technology that provides interactive AI real estate agents capable of answering questions and guiding prospective buyers through listings at any time. Porta da Frente Christies CEO Joo Clia told Fox Business that the firm has seen great results since live-testing the AI agent about a year ago.
Understanding that real estate housing markets are hyperlocal, the RealTrends Verified City Rankings represent the newest evolution of RealTrends agent and team rankings. This year’s inaugural rankings feature agents and teams from 50 cities across the U.S., Find out which agents and teams ranked highest in your city here.
Disaster-stricken areas can place undue hardship on real estate agents looking to sell houses and sales volumes often take a hit. And a report published this week said that agents in Florida, California and South Carolina are being forced to change tactics to survive in their markets. “Its a full-court press for us.”
The real estate market is constantly shifting, and today’s market calls for agents to return to the more tried-and-true marketing strategies. Open houses remain one of the best ways to showcase a property and connect with potential buyers. This allows the agent to tailor their follow-up strategies for better results.
From luxury property tours to laugh-out-loud real estate memes, these 21 agents and influencers bring the best of the industry right to your phone. Whether you’re an agent, a real estate investor or just love stunning homes, these real estate Instagram accounts are a must-follow. Thats where The Broke Agent comes in!
Alabama governor Kay Ivey has signed into law a bill that ensures homebuyers only have to sign a buyer brokerage agreement prior to submitting an offer on a property and not before touring a home with an agent. Ivey signed the bill into law on Tuesday after it passed the state Senate earlier this month.
AgentCoach.AI , an AI-powered real estate coaching company, is launching a new training platform for real estate agents. The new platform will leverage specialized training bots to help agents prepare for business. Productivity tools are also available to keep agents on track. said in a statement.
RE/MAX frequently touts the experience and productivity of its agents, 135 of which made the 2024 RealTrends Verified + Tom Ferry The Thousand more than any other brokerage. In 2025, however, the real estate franchisor is looking to welcome in and foster the next generation of top agents.
The majority of homebuyers are still expecting sellers to cover their agent’s compensation, according to The Real Brokerage ’s August 2024 agent survey. 15, recording the responses of roughly 300 agents across North America. 15, recording the responses of roughly 300 agents across North America. 30 and Sept. 30 and Sept.
It was based on the premise that buyer brokers were using commission rates posted on the [ multiple listing service ] to steer buyers to properties that provided higher levels of compensation. … The settlement makes sense — but only on paper. Additionally, Monestier’s objection also claims that agents are still engaging in steering.
A majority of agents believe 2025 is going to be a great year for the housing market. Although agents are split on whether its going to be a buyers or a sellers market, 87% predict that demand will remain very strong over the next year. That will likely make it a busy year for real estate agents.
High mortgage rates and high home prices combined with economic uncertainty are causing some would-be buyers to change their minds. Increasing inventory and reduced demand has tilted the housing market in buyers favor in recent months. Some buyers are getting cold feet with everything going on in the world.
31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. Stubbornly high interest rates, low levels of inventory and elevated home prices are putting a strain on the often-limited budgets of first-time buyers. It is no secret that many first-time homebuyers are struggling.
The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. NAR has also advocated for the VA to change its rule around buyer broker compensation.
“Technology has enabled homeowners to live more sustainably and more affordably, which is a growing priority for prospective buyers,” said Amanda Pendleton, a Home Trends Expert at Zillow. The post Homeowners and Buyers Reveal the Most Desired Home Trends for 2025 first appeared on The MortgagePoint.
The study found that 48% of buyers said costs were higher than expected, with 39% exceeding their budget and 38% reporting impacts on their savings. Notably, 63% of first-time buyers were surprised by the cost. It was noted that 79% of buyers compromised on at least one priority. Among Gen Z, 49% exceeded their budget—over 1.5
Additionally, Redfin agents note that as home prices rise, multigenerational households are becoming more prevalent. Monthly costs are so high these days that Im trying to find big homes for a lot of multi-generational families, said Julie Zubiate, a Redfin Premier agent in the Bay Area.
She went from a brand new agent in 2020 to running her wildly successful boutique brokerage with Side in less than four years. No cold calling, no door knocking just (patiently) educating new and move-up buyers with quick-hit educational TikTok videos. Most agents dont bother. Kina Desantis did. Sound familiar?
According to a recent Redfin analysis, the average buyersagent commission for properties sold in Q4 was 2.37%. When the regulations come into effect on August 17, the average buyersagent commission dropped from 2.38% in July to 2.35% in August. A Redfin-commissioned survey of 500 U.S.
In the latest episode of the RealTrending podcast , Amy Stockberger — broker-owner of Amy Stockberger Real Estate — joins Tracey Velt for a tantalizing conversation that covers her teamerage’s unique “Lifetime Home Support” model and other ways that agents can provide value to home buyers and sellers.
This is especially true when various MLSs, brokerages and agents are taking their own approaches to dealing with the business practice changes. As Sharran Srivatsaa , the president of The Real Brokerage , sees it, there are two primary agent camps right now. It is actually forcing agents to improve their communication.
It offered an innovative take on the agent compensation model and got a headstart on Zillow in the portal wars. They still have to bear the cost of those agents, despite production not being there in a terrible housing market.” Since the first quarter of 2021, Redfins agent count has fallen by 22.5%. It shows in the data.
Think of it as ROYGBIV, but instead of helping third graders learn color theory, it will help you convert more cold buyer leads with less stress. Its powerful stuff, especially for new buyeragents. The LPMAMA script cuts right to the heart of a buyers needs, wants, dreams and financial ability to achieve them.
Wacksman: That’s the Zillow app for a buyer and a seller. What does the buyer or seller want? Robinson : How would you help agents understand how you are positioning your technology for the good of the industry and for the good of the agent? One has to keep up with where the buyer and seller is going.
Although the decision is ultimately highly personal and based on a buyer’s budget, needs, and preferences, there are a few things agents need to consider to help them make the best decisions. It can be tough for a buyer to choose when faced with the allure of a brand-new build or the charm and affordability of an older home.
As he and his clients walked out the door of a multi-million home they had just toured together, the buyer told Sarway he wanted to submit an offer. Instead, he took a deep breath, remembered his fiduciary duty to his buyer and told him exactly why buying the apartment would be a mistake. Agents were doing deals there.
This is evident when you ask any highly successful agent where they find their clients. That’s wonderful and something to be admired, yet I’ve had many agents who are earlier in their careers ask me HOW these agents built this referral machine. Asking for referrals can be intimidating for some agents and it can feel sales-y.
Despite the frequency of departures, real estate agents in the state say the housing market remains strong. We are still experiencing the multiple-offer phenomenon, although it is not quite as prevalent as it was a year ago, said Linda Feinstein , a Hinsdale, Illlinois-based agent for Compass. as of Jan. a year ago. As of Jan.
In the newest episode of the “Real Estate Insiders Unfiltered” podcast, hosts James Dwiggins and Keith Robinson sit down with Robert Morris, a real estate broker, trainer and veteran agent at Keller Williams Capital Properties. So, in having conversations with new agents, they’re learning the right way. Vision Course.
These off-market listings not only harm sellers, but they limit exposure to potential buyers, possibly deepening inequities that have long existed in real estate. Nearly three-quarters of Hispanic and Black sellers reported that their agent recommended using a private listing network, compared to only 24% of white sellers.
31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. For us, probably the biggest change has just been a refocus on the engagement that our agents have with the consumer at the inception of a real estate transaction,” Kelly said.
housing market is split into two groups: first-time buyers struggling to enter the market and current homeowners buying with cash,” said Jessica Lautz, NAR Deputy Chief Economist and VP of Research. First-time buyers decreased to 24% of the market share (32% last year). For first-time buyers, this number jumps to 64%.
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