Housing Wire

JUNE 25, 2024

A report released Tuesday by the Consumer Federation of America (CFA) found that the California Association of Realtors’ (CAR) buyer representation and broker compensation agreement is “virtually unreadable.” The contrast between the CAR and eXp contracts could not be sharper,” Stephen Brobeck, a CFA senior fellow, said in a statement.

Realtors 418

Realtors Buyers Contracts Realty 418

Housing Wire

JULY 26, 2024

Secure payment provider Payload is launching a new payment and billing tool specifically geared to buyer agents , according to an announcement on Thursday. Payload has designed a tool to help agents bill their buyer clients.

Tools 459

Tools Buyers Agents Contracts 459

Appraisal Buzz

AUGUST 13, 2024

While the industry is no stranger to predatory and/or unfair lending practices, new advisory opinion and research study on a type of home seller financing known as a “contract for deed” has been released by the Consumer Financial Protection Bureau (CFPB). The CFPB is had a field hearing in St.

Contracts 367

Contracts Investors Sellers Lending 367

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. O’Koniewski said this can sometimes make the buyer’s offer more attractive.

Buyers 468

Buyers Sellers Agents Contracts 468

Appraisal Buzz

NOVEMBER 22, 2024

Those trends include buyers’ pursuit of “forever dream homes” which, according to agents, offer adaptability to grow and change alongside homeowners’ evolving lifestyles. Conversely, the subsequent contraction of inventory in June was mirrored by a diminished sales volume. A slight increase in luxury home inventory is expected, 59.3%

Buyers 417

Buyers Luxury Properties Marketing Inventory 417

Housing Wire

JULY 23, 2024

Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin ’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% of homes that went under contract. of buyers canceled in June.

Buyers 459

Buyers HOA Property Taxes Inspection 459

Housing Wire

FEBRUARY 12, 2024

There were 66,000 new listings this week, of which 14,000 are already in contract. 14,000 of those new listings are already in contract. Immediate sales If sellers are growing we need to know if buyers are growing too. Of the 66,000 new listings this week, 14,000 of those are already in contract.

Sellers 466

Sellers Housing Market Buyers New Listings 466

Housing Wire

AUGUST 22, 2024

“As part of their low-cost selling strategy, sellers using Homie would commonly make an offer of compensation to buyer-brokers that was somewhat below the buyer agent compensation (BAC) offered by sellers represented by traditional brokers, including the Corporate Defendants.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

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 448

Buyers Realtors Agents Sellers 448

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? Enter the savvy seller.

Buyers 482

Buyers Agents Real Estate Agent Loan Officers 482

Appraisal Buzz

AUGUST 30, 2024

A forward-looking measure of home sales based on contract signings, the Pending Home Sales Index (PHSI) fell to 70.2 The level of contract activity in 2001 is represented by an index of 100. “A Current lower, falling mortgage rates will no doubt bring buyers into market.” Pending transactions decreased by 8.5%

Contracts 312

Contracts Realtors Inventory Buyers 312

Housing Wire

JULY 22, 2024

will be significant enough move in rates to move the needle for buyers. There were another 15,000 new listings that are already in contract, which is very low for immediate sales recently. To me, that lack of new supply suggests it’ll keep a cap on inventory growth even if buyer demand stays dormant for the rest of the year.

Buyers 488

Buyers Inventory New Listings Sellers 488

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 I have buyers that are looking, but to find a house that you love enough to pay a high price for — and to be at over a 6.5% In Wise County , there were only 56 listings.

Inventory 459

Inventory Buyers Agents Real Estate 459

Housing Wire

MARCH 15, 2024

These housing professionals have been gaming out the potential impact on buyers’ agents – a significant source of referrals. Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down.

Buyers 514

Buyers Agents Mortgage Real Estate Agent 514

Housing Wire

OCTOBER 15, 2024

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.

Construction 488

Construction Buyers Agents Marketing 488

Housing Wire

AUGUST 26, 2024

Even as pending sales of starter homes across the nation’s 50 largest metro areas grew on a yearly basis in July, the number of homes going under contract in other price tiers backtracked. We are seeing a lot of younger buyers looking at smaller starter homes. Sale prices for starter homes rose 4.2% growth for middle-priced homes.

Buyers 448

Buyers Inventory Marketing Contracts 448

Housing Wire

JANUARY 23, 2024

For what felt like a moment in time, buyers enjoyed the luxury of being incredibly picky, carefully selecting what felt like their dream homes in a market that had shifted towards more favorable conditions. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

Real Estate Agent 476

Real Estate Agent Real Estate Buyers Agents 476

Appraisal Buzz

JUNE 20, 2024

Buyers are also avoiding earlier stages of the house-hunting process. Buyers are retreating primarily due to high home costs. Another explanation for the drop in pending sales is a scarcity of new, desirable listings for buyers to select from. During the four weeks ended June 16, pending home sales declined 3.8%

Buyers 397

Buyers New Listings Sellers Mortgage 397

Appraisal Buzz

JULY 23, 2024

of all homes under contract, being canceled in that month alone. Buyers are getting more and more selective,” said Julie Zubiate, a Redfin Premier real estate agent in the San Francisco Bay Area. of the residences that were under contract in that month. of homes that went under contract. of homes that went under contract.

Buyers 396

Buyers Contracts HOA Property Taxes 396

Appraisal Buzz

JUNE 12, 2024

Home sellers are returning to the market, but buyers are hesitant, according to a recent Zillow market report. In May, new property listings exceeded sales, allowing buyer competition and price rise to slow—and more price relief is expected. However, buyers aren’t matching sellers’ enthusiasm; sales in May were 6% lower than last year.

Sellers 397

Sellers Buyers New Listings Home Value 397

Housing Wire

SEPTEMBER 15, 2023

Buyers facing high mortgage rates are pulling out of their home-purchase agreements at the highest rate in nearly a year. of homes that went under contract that month, according to a new report from Redfin. A lot of sellers are also willing to let buyers slip away because they don’t want to concede to repair requests,” Morre said.

Buyers 448

Buyers Mortgage New Listings Real Estate 448

Housing Wire

AUGUST 1, 2024

When it comes to handling compensation eXp Realty is not mincing its words — it is not sharing its listing fee with the buyer’s broker. However, the firm says this does not mean it is unwilling to work with buyer’s brokers. But it will be their sellers who make the decision on an offer of compensation to a buyer broker.

Sellers 448

Sellers Buyers Agents Law 448

Housing Wire

NOVEMBER 29, 2023

In the ever-competitive real estate market, creating a consistent flow of real estate buyer leads is strategy for success. But beyond first-timers, we’ll show you how to attract real estate buyers of all kinds through a multi-tiered marketing approach that boosts both your visibility and credibility with potential buyers.

Real Estate 435

Real Estate Buyers Tools Real Estate Agent 435

Housing Wire

AUGUST 13, 2024

As more brokerages and agents contemplate moving away from a cooperative compensation model , many are grappling with some tough questions, the most vexing probably being: What do I do if a seller is only willing to contribute part of the buyer broker’s fees, or none at all? You have to make sure you are on the same page.”

Clients 482

Clients Agents Buyers Sellers 482

Housing Wire

JANUARY 2, 2024

Inventory is slowly but steadily increasing over last year, which means slightly more options for buyers this spring. We have more homes going into contract each week now than we did a year ago — supply and demand are climbing together. There are now 258,000 single family homes in contract. Sales rates are climbing.

Housing Market 531

Housing Market Marketing Inventory Contracts 531

Real Estate News

JULY 24, 2024

Upward of 56,000 home purchase contracts — nearly 15% of all such contracts from June — were canceled, a new report found, largely due to affordability issues.

Contracts 336

Contracts Buyers Marketing 336

Appraisal Buzz

OCTOBER 30, 2024

increase in the Pending Home Sales Index (PHSI), a measure of future home sales based on contract signings, to 75.8, The amount of contract activity in 2001 is represented by an index of 100. Year-over-year, contract signings grew in the Northeast and West and were unchanged in the Midwest and South. September saw a 7.4%

Contracts 418

Contracts Buyers Inventory Mortgage 418

Housing Wire

AUGUST 27, 2024

Dubbed the “Contingency Buster,” the product uses its Purchase Price Guarantee (PPG), a binding backup contract that if a homebuyer’s current home does not sell within 150 days, the fintech will purchase it at an agreed-upon price, the company said in a release Tuesday.

Contracts 466

Contracts Real Estate Agent Real Estate Buyers 466

Housing Wire

APRIL 1, 2024

Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. That brings us to 367,000 single-family homes in the contract pending stage. NAR reported 33% all cash buyers, which is the most since 2014 when buyers were still cleaning up distressed properties. Why the difference?

Inventory 488

Inventory New Listings Contracts Sellers 488

Appraisal Buzz

JULY 31, 2024

The rise in housing inventory is beginning to lead to more contract signings,” said Lawrence Yun, NAR Chief Economist. Multiple offers are less intense, and buyers are in a more favorable position.” A measure of prospective home sales based on contract signings, the Pending Home Sales Index (PHSI) increased to 74.3

Contracts 397

Contracts Inventory Buyers Housing Market 397

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 468

Contracts Legal Sellers Buyers 468

Housing Wire

DECEMBER 19, 2023

Rates are falling now and if that continues, buyers will jump and inventory will fall well into the first quarter of 2024. These sellers have been matched by an increase in buyers, too, so there were 10% more immediate sales than last year. Contracts growing We continue to see the new contracts grow each week: There were 7.7%

Sellers 482

Sellers Marketing Inventory Contracts 482

Housing Wire

FEBRUARY 29, 2024

In its statement, the DOJ advocated for the prohibition of cooperative compensation, meaning that “sellers would be responsible for determining only the compensation of their own broker in the listing contract … [and] buyers would be responsible for determining the compensation of their own broker in a buyer-broker representation contract.”

Contracts 448

Contracts Legal Sellers Buyers 448

Housing Wire

DECEMBER 18, 2024

According to CEO and co-founder Huw Nierenberg, Oyssey is an “invite-only, through select buyer’s agents, home search platform.” “It’s about time buyers have control of how their own contracts work and that can mean more commission opportunities for savvy agents,” he added.

Real Estate 350

Real Estate Real Estate Agent Brokerage Contracts 350

Housing Wire

JANUARY 22, 2024

Those metrics, specifically the pace of new listings and new sales contracts, slowed this week. New listings and new contracts both still show a bit of improvement over 2023, but the growth rates have slid back down. The state of California had 20% more contracts started last week than the same week a year ago. Just 31.4%

Real Estate 487

Real Estate New Listings Contracts Inventory 487

Housing Wire

SEPTEMBER 7, 2023

Rising mortgage rates mean rising inventory as home buyer demand slows quickly. Mortgage rates have been rising, making homes more expensive to buyers and obviously slowing demand. This is an effective illustration of the impact this year’s higher mortgage rates are having on home buyer demand. Mortgage rates peaked at 7.5%

Contracts 468

Contracts Inventory Buyers New Listings 468

Housing Wire

SEPTEMBER 9, 2024

Let’s look at how these dynamics will impact home sales , prices, and buyer opportunities for the rest of the year and into the first quarter. For every two homes going into contract each week, there’s a third withdrawn for lack of an offer. With another 12,000 new listings that are already in contract.

Sellers 482

Sellers Inventory Contracts New Listings 482