Appraisal Buzz

OCTOBER 31, 2024

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’s agent commissions have fallen 17 basis points since January 2023, when they averaged 2.51%.

Real Estate Agent 386

Real Estate Agent Real Estate Agents Sellers 386

Housing Wire

AUGUST 1, 2024

As brokerage firms fine tune how to handle the business practice changes outlined in the terms of the National Association of Realtors’ nationwide commission lawsuit settlement agreement , which are set to go into effect on August 17 , many are focusing on how their agents will handle compensation on both the buy-side and the sell-side.

Sellers 436

Sellers Buyers Agents Law 436

Housing Wire

AUGUST 14, 2024

Ralph Harvey , Jason Saphire and Ben Caballero are three of the most prolific agents in America. But these listing-only agents are still having to adjust their practices to conform with the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement that goes into effect on Saturday. “We

Agents 399

Agents Sellers Buyers Contracts 399

Housing Wire

AUGUST 19, 2024

But even though O’Koniewski and her agents have spent months preparing for these changes, she said the date did not come without a sense of trepidation. “I Not that individual agents might be struggling or running into things, but I haven’t seen or heard any horror stories or anything awful yet.” I know quite a few agents it hurt.

Agents 464

Agents Sellers Realty Buyers 464

Housing Wire

OCTOBER 26, 2024

However, with the recent spike in mortgage rates , it’s possible some sellers are just going to call it quits. New listings data One place to see whether home sellers are calling it quits is our new listings data, which would clearly show if home sellers are reluctant to list their homes.

Inventory 494

Inventory Sellers New Listings Mortgage 494

Housing Wire

NOVEMBER 20, 2023

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. But what happens if consumers pivot away from buyer agents altogether?

Buyers 412

Buyers Agents Real Estate Agent Loan Officers 412

Appraisal Buzz

JUNE 12, 2024

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. Median days to pending, the typical time from initial list date to pending status for homes that went under contract during a month, is at 13 days in May, which is unchanged from April. in 2024 before falling 1.4%

Sellers 397

Sellers Buyers New Listings Home Value 397

Housing Wire

OCTOBER 1, 2024

The role and value of real estate agents has come under scrutiny since the National Association of Realtors (NAR) settled a bevy of antitrust lawsuits related to offers of agent compensation on Realtor-owned multiple listing services (MLSs). What we want to do is be able to bring to light everything the agents are actually doing.”

Agents 426

Agents Real Estate Agent Brokerage Real Estate 426

Housing Wire

JANUARY 23, 2024

home sales in nearly 30 years as high mortgage rates frustrate buyers, the market is reshaping real estate once again, placing buyers on the back foot and swinging the pendulum back to favoring sellers. Well into January, we are already seeing properties go under contract in the first weekend with multiple offers.

Real Estate Agent 437

Real Estate Agent Real Estate Buyers Agents 437

Housing Wire

AUGUST 12, 2024

Despite the firm’s name Voss says the brokerage works with both buyers and sellers, but on the sell-side he and his agents only charge clients for their services. “We I really struggled with that dynamic of why would I, as a seller, want to offer money to somebody who is going to actively try and get me to gain less?”

Brokerage 432

Brokerage Agents Sellers Buyers 432

Housing Wire

MARCH 22, 2024

Based on NAR’s settlement, agents working with buyers will need a signed buyer representation agreement starting in mid-July, pending final court approval of the settlement. Bills Clarke said this is exactly how agents already work with sellers, so it shouldn’t be a big deal to implement buyer agreements into a business.

Buyers 485

Buyers Contracts Real Estate Agents 485

Housing Wire

SEPTEMBER 9, 2020

” With the suburbs seeing record volume , agents and brokers like Harrison, who runs Compass’ operations in Westchester alongside her husband Zach, are counseling their clients on how to prevail in a fierce bidding war. Vickie Mox, an agent with RE/MAX Dallas Suburbs , covers the Collin County area, north of Dallas.

Agents 501

Agents Marketing Clients Buyers 501

Inman

JULY 31, 2024

A new draft seller contract that eXp Realty is distributing to its brokers and agents is largely consistent with a newly issued set of criteria from the Consumer Federation of America, the watchdog group said this week.

Contracts 183

Contracts Sellers Realty Agents 183

Housing Wire

FEBRUARY 14, 2024

I’ll show you what it takes to succeed as a luxury real estate agent in any market. How do you convince the sellers of $15 million homes to work with you? Visit Coffee & Contracts 2. Visit Agent Image 3. Don’t try to do everything or be everything to everyone!

Real Estate Agent 404

Real Estate Agent Real Estate Agents Luxury Properties 404

Housing Wire

APRIL 30, 2024

Under the terms of the settlement agreement , agents will have to have a written agreement with a client in order to work with them as a buyer’s agent. Under these circumstances, the agent or MLS participant would not need a written agreement with the buyer.

Buyers 480

Buyers Open Houses Sellers Agents 480

Housing Wire

OCTOBER 9, 2024

17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. Heading into Aug. which is no longer in effect.

Buyers 428

Buyers Sellers Agents Contracts 428

Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers.

Buyers 377

Buyers Contracts Agents Realtors 377

Housing Wire

MARCH 13, 2024

Artificial intelligence (AI) tools equip real estate agents with unprecedented capabilities. Automated chatbots can help you field calls, texts, emails and website inquiries to qualify incoming leads and segment buyers and sellers by their areas of interest in your CRM — all before you even pick up your phone to call or text those prospects.

Real Estate Agent 386

Real Estate Agent Real Estate Tools Agents 386

Housing Wire

OCTOBER 28, 2024

While Monestier, who reportedly sold her Rhode Island home in 2022 and is part of the affected class, believes sellers were paying “inflated commissions,” she feels that prior to the settlement changes going into effect, the rules governing the industry were “clear and confusion did not reign supreme.”

Business 442

Business Sellers Realtors Buyers 442

Housing Wire

OCTOBER 23, 2024

Successful listing agents know that the key to securing a listing is preparation. Proactive agents do the work ahead of time and know what to expect going into every listing appointment. ask this at the end of the appointment) “I understand you’re interviewing several agents. Several pens. Business cards.

Agents 367

Agents Real Estate Sellers Real Estate Agent 367

Housing Wire

AUGUST 28, 2020

billion in VC funding, is looking to bring aboard real estate agents in Phoenix, Arizona, to support its “Home Reserve” iBuying platform, according to Inman , which spotted a jobs posting Friday morning. The firm is testing two different models with agents in Phoenix, the spokesperson said. The company, armed with $1.5

Brokerage 529

Brokerage Real Estate Agent Agents Real Estate 529

Housing Wire

AUGUST 1, 2024

Under the terms of the settlement, agents will no longer be allowed to share their seller’s offers of buyer broker compensation on an MLS. For Lamacchia, it is essential that his agents and brokers are able to clearly explain and communicate about the forms they are asking clients to sign. I feel really well supported.”

Real Estate Agent 405

Real Estate Agent Real Estate Agents Business 405

Housing Wire

MARCH 14, 2024

No matter where you are in the state, real estate agents in Virginia are facing low inventory conditions that are creating frustrating scenarios for their buyers. “I Out in Wise, Virginia, near the westernmost tip of the state, RE/MAX Cavaliers agent Brett Tiller and his clients are also struggling to find suitable properties.

Inventory 405

Inventory Buyers Agents Real Estate 405

Housing Wire

AUGUST 22, 2024

In a lawsuit filed Thursday, real estate startup Homie Technologies claims that home seller consumers were not the only ones harmed by the real estate industry’s allegedly anticompetitive practices. Buyers using Homie would receive some or all of any BAC offered by the seller,” the complaint states.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

Housing Wire

JULY 9, 2024

Just this week, I have spent time with successful people in the following pursuits: Technology consulting, software development, real estate sales, building construction and contracting, the law, nuclear physics innovation, advertising, medical sales, and product innovation. Why, then, does this understanding not apply to real estate agents

Real Estate Agent 384

Real Estate Agent Real Estate Agents Training 384

Housing Wire

JULY 18, 2024

“CFA has already shown that some revised contracts are very anti-consumer while others are much fairer to buyers.” The criteria consist of 15 factors real estate leaders should consider when creating a buyer representation contract. The criteria are primarily focused on the form and content of the contract.

Buyers 409

Buyers Contracts Realtors Real Estate 409

Housing Wire

SEPTEMBER 7, 2023

For most real estate agents, working with a reliable lending partner is essential to a smooth and successful transaction. That partnership is everything,” Amy Breach, a Seattle-based Keller Williams agent, told HousingWire in late 2022. The lender and LO can make or break the transaction.”

Buyers 398

Buyers Agents Loan Officers Real Estate 398

Housing Wire

AUGUST 9, 2024

In a recent episode of the Real Estate Insiders Unfiltered Podcast, the hosts dive into commission sharing practices for agents, the associated risks and the alternatives ahead of the National Association of Realtors ‘ (NAR) business practice changes that are set to take effect on Aug 17.

Real Estate 390

Real Estate Advertising Legal Agents 390

Housing Wire

APRIL 20, 2022

Bonnie Williamson never intended to be a real estate agent. million – brokerages have become less focused on attracting new agents into the industry and instead more focused on increasing the productivity of the agents they have. Just how we do contracts now is so much faster.

Real Estate Agent 405

Real Estate Agent Real Estate Agents Brokerage 405

Housing Wire

MARCH 13, 2024

The DOJ argued that changes similar to those proposed in the settlement agreement — including the lowering of the required compensation amount to $0 or abandoning the requirement for listing brokers to make a blanket offer of compensation to the buyer’s broker in order to list on the MLS — have done nothing to decrease agent commissions.

Contracts 423

Contracts Legal Sellers Buyers 423

Housing Wire

JULY 17, 2024

Amongst the most substantial terms of that agreement is a blanket ban on the requirement that agents subscribe to MLSs to offer or accept compensation for their work. It means sellers’ agents and brokers should prepare to deal directly with the buyer of an REO property whenever possible going forward.

Real Estate 493

Real Estate Agents Training Buyers 493

Housing Wire

AUGUST 29, 2024

Many state Realtor associations’ new forms —such as buyer representation agreements—are largely incomprehensible to the average homebuyer or seller and have language that seeks to avoid the terms of the National Association of Realtors ‘ (NAR) nationwide commission lawsuit settlement agreement , according to a report released earlier this month.

Buyers 406

Buyers Realtors Agents Sellers 406

Housing Wire

AUGUST 22, 2024

Although the process for communicating and dispersing buyer agent compensation has shifted, the industry adapted calmly within a couple of weeks. Friction slows down sales While sellers have maintained the status quo, realtors have had to adapt quickly. Many who rarely answer phones are responding to calls, texts, and emails.

Real Estate 422

Real Estate Realtors Contracts Agents 422

Housing Wire

FEBRUARY 16, 2024

The modified rule still gives sellers and their listing brokers a role in setting compensation for buyers’ brokers,” the filing states. According to the DOJ, when a seller makes an offer of compensation to the buyer broker, the buyer broker does not need to compete on their compensation price in order to attract clients.

Sellers 457

Sellers Buyers Real Estate Contracts 457

Housing Wire

JANUARY 3, 2024

Real estate agents are optimistic about the housing market and working to implement buyer agency agreement as we head into 2024, according to the RealTrends Q1 2024 AgentPulse survey. Some agents reported not having made any changes to their business due to the lawsuits, while others have.

Agents 368

Agents Realtors Clients Real Estate 368

Housing Wire

DECEMBER 5, 2024

For decades, referrals have been the backbone of a real estate agents business. But in an era where nearly everything begins with a Google search, the way buyers connect with agents has changed dramatically. Buyers are increasingly conducting their own online review of prospective agents before choosing one.

Agents 306

Agents Real Estate Agent Real Estate Clients 306

Housing Wire

SEPTEMBER 30, 2020

20, the National Association of Realtors said that contract signings were up 23% year over year. There were nine new pending contracts for every 10 new listings, a slower rate than the 9.9 The post No seasonal slowdown this year as real estate agents report a busier-than-usual fall appeared first on HousingWire.

Real Estate Agent 546

Real Estate Agent Real Estate Agents Realtors 546