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Home sellers who didn’t list on the MLS lost $1B in sale proceeds: Zillow

Housing Wire

To classify these sales, Zillow identified sales that were reported pending or closed with at most one day active and with a buyer and seller represented by the same agent or by agents within the same brokerage office, the report stated. If a home was listed at this point in time, it was excluded from the study.

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Vacation home demand soared in 2020

Housing Wire

How to Diversify Your Brokerage to Weather Economic Hardship. Diversification is one approach brokerages can adopt to help ensure stability in unavoidable times of uncertainty, work to protect their revenue and – ultimately – financially weatherproof their business.

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CFPB investigating Rocket Homes for illegal kickbacks

Housing Wire

In the lawsuit, Shkipin alleged that a number of lenders operate “paper brokerages” to squeeze fees from real estate agents, which are passed onto the consumer, who pays for poor service. Shkipin claims that under RESPA, referral payments are only permitted when all parties are acting on behalf of brokerages.

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RealScout launches seller lead nurture features

Housing Wire

Features of the new RealScout Pro+ include Auto Nurture, Home Value Alerts and market activity alerts. The two seller or future seller nurture features in the RealScout Pro+ launch include Home Value Alerts and market activity.

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Zestimate to double as Zillow’s iBuying offer

Housing Wire

The “Zestimate,” Zillow’s catchy ( and soapy ) name for estimated home values, will sometimes be used as the initial offer Zillow plans to pay to purchase a home, the company said on Thursday. Zillow’s own estimated home value is to guide the company on a “limited subset of homes” in 20 markets.

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Invest in real estate, not the stock market

Housing Wire

However, even individuals that purchased homes in 2020 have seen an increase in home value after just one year of homeownership. According to CoreLogic, homeowners saw an 8% increase in home prices in 2020. These opportunities available in real estate are going to cause a tech disruption on the investment side.

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Homeowners gain $9.1 trillion in housing value in 2021

Housing Wire

However, she added that the “silver lining is that housing values didn’t just climb in large affluent cities” as homeowners in rural America also saw “substantial” home-value increases. Redfin’s report found that rural home values climbed by 46.2% Meanwhile, the value of suburban homes rose by 25.9%