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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. This was unambiguous among homebuyers.
Home sellers who did not list their properties on the MLS lost out on more than $1 billion in sale proceeds over the past two years, according to a study published Monday by Zillow. In 2023 and 2024, Zillow found that sellers who chose not to list on the MLS typically lost out on nearly $5,000, selling their property for 1.5%
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.
As real estate practitioners adjust to the practice changes that took effect in August, and the industry waits for final approval of the NAR settlement from the court in November, questions continue about seller offers of compensation. It explicitly allows for such offers to be made off-MLS, however. None of these arguments hold water.
In this week’s episode of the RealTrending podcast , host Tracey Velt traveled to the REengage Winter Conference to speak with Illinois Realtors CEO Jeff Baker and president Tommy Choi. Choi: If you look at how many Realtors buyers and sellers interviewed, 80% have interviewed only one agent. And that’s true.
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?
After previously taking issue with some of the forms generated as a result of the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement , University of Buffalo law professor Tanya Monestier is now objecting to NAR’s settlement. In a document filed on Monday in U.S.
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%.
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.
With Q4 in full swing, many realtors are seeing buyers and sellers paralyzed by high interest rates and stagnant inventories. Sean Shallis, a “Recovering Realtor” and top-producing loan officer , is offering strategies to help realtors break through this stagnation by leveraging micro-market shifts to create urgency and inspire action.
But because AI is about to reshape how buyers and sellers interact with listings entirely. Search portals charge agents to participate in a system that resells their own leads back to them. Having a listing reach buyers directly through AI will be a win for buyers, sellers and agents. Agents will always need new business.
The brokerage is giving agents at all brokerages access to Coming Soon, which houses its exclusive listings. Compass says that the listings protect home sellers against negative insights, such as days on market. The third phase is the listing going live on all platforms, including the MLS and aggregators like Zillow.
More than half of home buyers (52%) negotiated with the seller, with 94% of those who did achieving success. About 34% of buyers paid below the asking price in 2024—up from 27% in 2022, when the market was more favorable to sellers. Clever’s network spans 15,000 agents across all 50 states.
We discussed the current market conditions and revisited the propertys previous listing history including that the last agent had failed to sell it, eventually pulling it off the market 60 days later. Unfortunately, the prior agents never reported the incident, allowing the scammer to attempt it again this time, through me.
In this weeks episode of the RealTrending podcast, host Tracey Velt sits down with Ohio Realtors President Michelle Billings , an agent at Coldwell Banker Realty in Montgomery, Ohio. They explored affordability issues in today’s real estate market and how agents should leverage their knowledge for success.
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.
(Image generated by AI in Midjourney) It has been nearly two months since the nationwide implementation of the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement. As Sharran Srivatsaa , the president of The Real Brokerage , sees it, there are two primary agent camps right now.
As an agent, you know a beautifully staged home turns into a sold one. Its important to communicate to your sellers the value of home staging for real estate by taking out the personalization of the home while keeping the home’s personality and what makes it unique. Pro Tip Dont leave the cleared-out spaces blank.
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.
31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. And it is a little bit early, but some of the preliminary data I have looked at show that sellers are continuing to pay buyer agent compensation.” It is no secret that many first-time homebuyers are struggling.
Redy , an online marketplace that rewards home sellers for selecting a real estate agent who best aligns with their sales goals, announced its launch in five markets on Tuesday. The Redy online platform is now available to home sellers in Atlanta , Dallas , Orlando , Phoenix and San Diego.
While there have not been any “ horror stories ” in the first few days since business practice changes mandated by the National Association of Realtors’ (NAR) commission lawsuit settlement agreement were implemented, that doesn’t mean it has been completely smooth sailing for real estate professionals.
The on-again-off-again legal battle between Top Agent Network (TAN) and the National Association of Realtors (NAR) is now off. This choice is allegedly removed due to NARs Clear Cooperation Policy , which requires agents to list the property on the MLS within 24 hours of marketing it.
According to the National Association of Realtors 2025 Home Buyers and Sellers Generational Trends report, baby boomers now comprise the largest generational group of home buyers in a shift that underscores the changing dynamics of todays housing market. Younger millennials (90%) were the most likely to use an agent.
Another agent was asking for an open house on the condo for the 3rd weekend in a row. I have tried being a solo agent, team, and everything in between, but lets face it the market is tough right now. I have tried being a solo agent, team, and everything in between, but lets face it the market is tough right now.
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.
On the RealTrending podcast produced by HousingWire , host Tracey Velt chats with San Antonio-based Realtor Jessica Conrad in the final installment of JPAR Real Estate ’s four-part Settlement Strategy Playbook series. She also explores JPAR’s agent training and resource efforts.
We all know that sellers hear what they want to hear and believe what they want to believe when it comes to how market conditions will impact the sale of their home. The agent , of course! It is still a sellers’ market, just not the frenzy that it has been. Well, Mr. and Mrs. Seller, I can appreciate that.
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.
In a footnote on the seventh page of the filing, the DOJ decided to offer some clarity on its current feelings about the National Association of Realtors (NAR) Clear Cooperation Policy (CCP). Implemented in May 2020, under CCP, listing agents have 24 hours from when they begin marketing a property to list it on their local MLS.
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.
After months of debate, the National Association of Realtors (NAR) has made a decision about its contentious Clear Cooperation Policy. In an announcement on Tuesday, the trade organization unveiled its new Multiple Listing Options for Sellers policy.
Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors and upcoming speaker at the Housing Economic Summit, sat down with HousingWires Senior Director of Events Brena Nath to answer a few questions on what she thinks is to come for real estate in 2025.
According to a recent Redfin analysis, the average buyers agent commission for properties sold in Q4 was 2.37%. That is down marginally from 2.45% a year ago, prior to the announcement of the new National Association of Realtors (NAR) commission standards , but it is practically unchanged from 2.36% in Q3, when the new rules went into effect.
Baby boomers have overtaken millennials as the largest share of homebuyers , making up 42% of all purchases in the past year, according to a report from the National Association of Realtors (NAR). NARs 2025 Home Buyers and Sellers Generational Trends report found that Generation X buyers remained steady at 24% of the market.
per the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement. eXp Realty recently released forms that make it clear it is firmly up to the seller to decide whether or not they will offer buyer broker compensation.
The debate surrounding the National Association of Realtors (NAR) Clear Cooperation Policy is raging on. In a recent LinkedIn post , NextHome CEO James Dwiggins noted that Off MLS or Office Exclusive listings could be at the center of future class-action litigation against brokers and agents.
Compass One gives clients easy access to relevant documents, calendars, listings and communication with their agent. Sellers have access to all offers. Opponents of CCP say it limits seller choice, the choice being whether to list their home on the MLS.
It named UtahRealEstate.com , the National Association of Realtors (NAR), Anywhere Real Estate , Keller Williams Realty , HomeServices of America and RE/MAX as defendants. As a flat-fee brokerage, Homie charged sellers a flat fee to list their property on the MLS. Homie filed the suit in mid-August.
California Regional MLS (CRMLS) has decided to remove fields listing seller concessions from its platform. Initially, CRMLS said it added these fields in preparation to deal with the business practice changes outlined in the National Association of Realtors’ nationwide commission lawsuit settlement agreement.
Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored enterprises (GSEs) on Monday.
As a panel of real estate leaders gathered to discuss the future of the MLS at the National Association of Realtors ‘ NXT conference in Boston, Errol Samuelson , Zillow ‘s chief industry development officer, found himself and his company in a bit different standing than usual with the audience of several hundred agents and brokers.
In 2011, he founded the innovative brokerage The Agency RE, and he recently launched a real estate agent trade group that aims to serve as an alternative to the National Association of Realtors (NAR). JA: With agent commissions poised to drop, a recent study showed that many brokerages would not be profitable at lower rates.
With the National Association of Realtors ( NAR ) reportedly set to vote on the future of its Clear Cooperation Policy (CCP) in the not-too-distant future, the leader of Coldwell Banker Realty is not holding back her feelings about the controversial rule.
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