Housing Wire

MAY 1, 2024

Less than a week after HomeServices of America settled the home seller commission lawsuits for $250 million , the firm again finds itself in the crosshairs of antitrust litigation. On Monday, homebuyer James Lutz filed a class-action antitrust lawsuit in a U.S. district court in Florida, accusing HomeServices and its subsidiaries, BHH Affiliates and HSF Affiliates , of conspiring to artificially inflate real estate agent commissions.

Sellers 433

Sellers Realtors Real Estate Agent Real Estate 433

Appraisal Buzz

MAY 1, 2024

In this week’s episode, host Hal Humphreys talks with Kevin Hecht, Appraisal Training and Development Manager and Real Estate Economist for McKissock. It seems like the market is starting to pick up for the spring across the nation, but we haven’t seen any significant interest rate changes. What can appraisers expect from the market in the near future?

Real Estate 351

Real Estate Marketing Training Valuation 351

Housing Wire

MAY 1, 2024

In light of the jury verdict in the Sitzer/Burnett suit and the terms of the National Association of Realtor’s nationwide settlement agreement of the commission lawsuits , several prominent industry analysts believe Zillow will struggle with its financial performance. On Wednesday evening, during the firm’s Q1 2024 earnings call with investor and analysts, CEO Rich Barton took a contrary view: Zillow is just beginning to unlock its revenue generating potential.

Agents 431

Agents Real Estate Contracts Real Estate Agent 431

George Dell

MAY 1, 2024

Will there be a need for traditional “appraisal” in 5 years? We think not. Some 25 years ago, I was education chair for my Appraisal Institute Chapter. Our ‘custom’ seminar considered the topic of technology replacing appraisers. The conclusion was, especially for residential appraisal, that AVMs would take a great market share. Worse yet, because […] The post No Need for Appraisers?

Appraisal 221

Appraisal Technology Marketing 221

Housing Wire

MAY 1, 2024

As more housing and mortgage authorities seek to expand the scope of homeownership to those who have never purchased a home before, the government-sponsored enterprises (GSEs) and the Federal Housing Finance Agency (FHFA) are taking a step to more narrowly define the term “first-generation homebuyer mortgage,” according to a bulletin released on Wednesday by Freddie Mac.

Mortgage 424

Mortgage Finance Government Development 424

Appraisal Buzz

MAY 1, 2024

Mortgage application volume decreased 2.3% during the week ended April 26, as the average rate for a 30-year, fixed-rate mortgage increased to 7.29%, up from 7.24% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 3% compared with the previous week and were down 1% compared with the same week one year ago.

Mortgage 195

Mortgage Appraisal Marketing 195

Appraisal Buzz

MAY 1, 2024

Truv , a provider of automated employment and income verification technology for mortgage lenders, banks, and credit unions, is now an authorized report supplier for Fannie Mae’s Desktop Underwriter (DU) validation service. Fannie Mae’s DU validation service uses third-party data vendors to independently validate borrower income, employment, and asset data, providing lenders with Day 1 Certainty on validated loan components.

Technology 195

Technology Mortgage Appraisal 195

Housing Wire

MAY 1, 2024

Corcoran expanded its talent pool this week and welcomed three new faces — two in Nashville and one in New Jersey. Former National Football League stars Andy Levitre and Marc Mariani have joined Corcoran Reverie , an affiliate of The Corcoran Group, in Nashville. The duo will be part of the Your Nashville Agent team under the leadership of Aaron Joyce.

Real Estate 414

Real Estate Brokerage Agents Clients 414

Appraisal Buzz

MAY 1, 2024

A survey conducted for FirstClose reveals that homeowners lack awareness regarding how home equity can be used to pay down higher interest credit card debt. In March, FirstClose commissioned a third-party online survey of 1,000 homeowners who have lived in their homes for at least two years and who have at least two credit cards with outstanding balances.

Renovations 195

Renovations Home Improvement Finance Appraisal 195

Housing Wire

MAY 1, 2024

Longtime reverse mortgage industry professional, advocate and leader Scott Norman has been appointed as the new CEO of the Texas Mortgage Bankers Association (TMBA). Norman is currently serving his fifth consecutive term as co-chair of the National Reverse Mortgage Lenders Association (NRMLA). He also works as vice president of field retail and director of government relations at Finance of America Reverse (FAR).

Mortgage 414

Mortgage Finance Loan Officers Retail 414

Appraisal Buzz

MAY 1, 2024

In the ever-evolving landscape of mortgage finance, the year 2024 presents both challenges and opportunities that demand astute navigation. Following a period of rising interest rates in 2023, the Federal Reserve’s recent signals hint at a potential shift towards a more accommodative monetary policy later in 2024. This could translate to lower interest rates, impacting borrower affordability and overall loan demand.

Mortgage 195

Mortgage Housing Market Buyers Finance 195

Housing Wire

MAY 1, 2024

When HomeServices of America reached a nationwide settlement agreement last week in the commission lawsuits filed by home sellers, it became the final defendant in the two original commission cases, Sitzer/Burnett and Moehrl, to do so. Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of Realtors (NAR) liable for colluding to artificially inflate real estate agent commissions , the industry’s path forward was very murky.

Realtors 413

Realtors Real Estate Agent Real Estate Brokerage 413

Real Estate News

MAY 1, 2024

The filing comes just days after the company settled similar cases brought by sellers. The firm maintains its practices were “lawful and procompetitive.

Law 247

Law Sellers 247

Inman

MAY 1, 2024

The class of 45 honorees represents the real estate industry's brightest achievers under the age of 40. Future Leaders is the latest addition to Inman’s growing industry-leading awards program.

Real Estate 194

Real Estate 194

Real Estate News

MAY 1, 2024

During an earnings call, Glenn Sanford said he wants to help agents “in the middle,” while noting that revenue was up and touching on the commissions lawsuits.

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Agents 233

Inman

MAY 1, 2024

The Atlanta-based Village Premier Collection, led by Cheri Benjamin, has joined Real under its Private Label program. The company has roughly 500 agents and closed $665 million in sales in 2023.

Brokerage 191

Brokerage Agents 191

Real Estate News

MAY 1, 2024

The company reported better-than-expected revenue of $529 million in Q1 — a 13% improvement from a year ago — and hinted at further monetizing its audience.

Mortgage 193

Mortgage 193

Inman

MAY 1, 2024

In an email, the 1.5 million member trade group specified when agents would have to have signed written agreements with buyers, but stressed NAR would not dictate the agreements' terms.

Contracts 182

Contracts Buyers Agents Realtors 182

Real Estate News

MAY 1, 2024

The Tech 200 highlights a range of products from 138 companies, with a focus on increasing productivity — and revenue — in a tight market.

Real Estate 205

Real Estate Marketing 205

Inman

MAY 1, 2024

No longer is finding the dream home the only consideration when looking for real estate. You must find a community fit for your buyers too, new Inman contributor Charles Banfield writes.

Buyers 173

Buyers Real Estate Brokerage Agents 173

Eyes on Housing

MAY 1, 2024

The Federal Reserve’s monetary policy committee held constant the federal funds rate constant at a top target of 5.5% at the conclusion of its April-May meeting. In its statement, the Federal Open Market Committee (FOMC) noted: Recent indicators suggest that economic activity has continued to expand at a solid pace.

Marketing 131

Marketing 131

Inman

MAY 1, 2024

Stronger lead generation systems and commission structures are driving more agents to consider switching their brokerage affiliations in the coming year, according to Coldwell Banker Real Estate's annual Agent Priorities Report published on Wednesday. In the survey of 1,500 agents, 39 percent said they plan to switch brokerages. That's a 56 percent increase from 2023 when 25 percent of agents said the same thing.

Brokerage 169

Brokerage Agents Real Estate Buyers 169

Eyes on Housing

MAY 1, 2024

Due to tightened monetary policy, the count of total job openings for the entire economy has trended lower over the last year. This is consistent with a somewhat cooler economy that is a positive sign for future inflation readings. However, the number of open jobs for the aggregate economy was relatively unchanged in March per.

Construction 103

Construction 103

Inman

MAY 1, 2024

Federal Reserve policymakers say they'll slow the pace of "quantitative tightening" to $40 billion a month, less than half the pace envisioned 2 years ago.

Marketing 181

Marketing Mortgage 181

Birmingham Appraisal

MAY 1, 2024

Home Renovations and Appraisal Value As an appraiser, I get asked about how much value will be added for different types of home projects or renovations. The truth of the matter is that it is difficult to give a straightforward answer. Contrary to what you see on the home improvement shows it is not always possible for an appraiser to shoot from the hip and reply back “An updated kitchen will add $50,000 to the value of your house” There are so many factors that must be taken into co

Renovations 75

Renovations Appraisal Real Estate Agent Construction 75

Inman

MAY 1, 2024

Zillow tallied growing revenue while stabilizing losses in the first quarter of the year as the reigning search portal narrowed in on its post-commission settlement strategy on Wednesday.

Mortgage 155

Mortgage Buyers Technology Agents 155

BiggerPockets

MAY 1, 2024

What’s easier to find, a unicorn or a rock star contractor? If you asked most value-add real estate investors, the answer would be obvious: “Unicorns, of course.

Real Estate 68

Real Estate Investors 68

Inman

MAY 1, 2024

The NAR settlement shook the industry, but agents overwhelmingly told the Inman Intel Index they believe their brokerage has been an effective ally. It's a big win for brokerage training efforts.

Brokerage 155

Brokerage Agents Training 155

BiggerPockets

MAY 1, 2024

Texas and Florida are seeing stagnating home prices as housing inventory booms while demand slips away. Housing is still expensive, but with more inventory, why is it staying that way?

Housing Market 62

Housing Market Inventory Marketing 62

Inman

MAY 1, 2024

The local intelligence company's latest tool automatically surfaces locations for homebuyers based on the homes they're already scrolled, offering an alternative to traditional search tactics.

Tools 154

Tools Technology Marketing 154

BiggerPockets

MAY 1, 2024

Juggling 0% interest business credit cards is like juggling torches in a hay-covered barn. Drop one, and the whole place goes up in flames.

Real Estate 64

Real Estate Business Finance 64

Inman

MAY 1, 2024

Wall Street investors believe promises made by new leadership of New York Community Bancorp, but concerns about the impact of interest rates and commercial lending on regional banks remain.

Lending 143

Lending Investors Mortgage Marketing 143

National Association of Realtors

MAY 1, 2024

The new process allows consumers to more readily obtain a second look at appraisals when they disagree with them.

Appraisal 71

Appraisal 71

Inman

MAY 1, 2024

With an A-list lineup of speakers and applicable tools to stay competitive, you won't want to miss this HOT event taking place May 21-22.

Tools 150

Tools Marketing 150