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CFPB warns consumers about home equity contracts, comparing their features to reverse mortgages

Housing Wire

The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.

Contracts 370
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What is a real estate broker vs. an agent? We explain the key differences

Housing Wire

Arguably, one of the most important functions of a real estate agent is to guide and be a subject matter expert to clients through the buying and selling processes. Put simply, a good agent is a sherpa who knows every step of the journey and expertly leads their client up the path. How do real estate agents get paid?

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To sue or not to sue: How buyer’s agents should prepare for commission disputes with clients

Housing Wire

So, you need to have the conversation again at the time of making the offer and then again when the contract comes back. Although some buy-side agents are weary of discussing their compensation with clients, industry leaders say that negotiating compensation is no different than any of the other negotiations agents regularly engage in.

Clients 482
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On Time Adjustments

Appraisal Buzz

Typically, this time starts when the comparable goes under contract, then ends on the effective date of the appraisal. This simplistic analysis means that for a sale that went under contract at $400,000 42-days ago, the increase factor would be $400,000 X 0.000329, or an increase of $131.51 times 42-days or $5,523. See the dilemma?

Contracts 284
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Top five questions to ask a potential real estate agent

Housing Wire

How many other clients are you representing right now? Do I have to sign a contract and, if so, how is it structured? You should also find out what the agent’s contract looks like. Do you have any references I can contact? Do your research, ask questions, and check reviews and references.

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Real Estate Referral Fees: The Ultimate Guide for 2024

Housing Wire

The receiving agent becomes the buyer or seller’s primary point of contact and representative, and the referring agent receives a referral fee if a transaction closes. Perhaps the client wishes to make a purchase that isn’t in the agent’s geographical area or their wheelhouse of expertise. What are the benefits of referrals?

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Australia, New Zealand-based reverse pros share insights

Housing Wire

In New Zealand, the products are bound by the Credit Contracts and Consumer Finance Act 2003 (CCCFA), which the pair says protects the interests of consumers in connection with credit contracts, consumer leases, and buy-back transactions of land despite not having a specific reverse mortgage provision.

Contracts 293