Housing Wire

MARCH 22, 2024

There is no doubt that the cooperative compensation structure changes outlined in the National Association of Realtors’ commission lawsuits settlement agreement will generate massive changes in the real estate industry, but those are not the only changes mandated by the terms of the agreement. Based on NAR’s settlement, agents working with buyers will need a signed buyer representation agreement starting in mid-July, pending final court approval of the settlement.

Buyers 476

Buyers Contracts Real Estate Agents 476

Appraisal Buzz

MARCH 21, 2024

Existing-home sales were at a seasonally adjusted annual rate of 4.38 million in February, an increase of 9.5% compared with January but down 3.3% compared with February 2023, according to the National Association of Realtors (NAR). It was the largest monthly increase since February 2023. Helping to boost existing-home sales in February was that inventory increased 1.07 million by the end of the month – up 5.9% compared with January and up 10.3% compared with February 2023.

Inventory 394

Inventory Realtors Investors Buyers 394

Sacramento Appraisal Blog

MARCH 20, 2024

Everyone is talking about the National Association of Realtors (NAR) lawsuit settlement, and I have a few thoughts too. It’s important to cultivate objectivity and keep some things in mind about buyers, sellers, and concessions. UPCOMING SPEAKING GIGS: 3/21/24 2024 Market Update for Brent Gove Team (big event free) 3/26/24 Orangevale MLS meeting 9am 4/11/24 […] The post Some things on my mind about the NAR lawsuit first appeared on Sacramento Appraisal Blog.

Realtors 344

Realtors Sellers Buyers Appraisal 344

Real Estate News

MARCH 18, 2024

The last defendant in the Sitzer/Burnett commissions case said it anticipated the motion and will respond with its own court filings in April.

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Housing Wire

MARCH 20, 2024

Those too young to remember the wild west of real estate believe that real estate commissions have always been evenly split between seller’s and buyer’s agents, with each receiving a portion of the sale price. This misconception obscures the reality that, historically, buyers lacked formal representation. Initially, the entire commission percentage was pocketed by the listing agent, who solely represented the seller’s interests.

Real Estate 479

Real Estate Buyers Agents Sellers 479

Appraisal Buzz

MARCH 22, 2024

The U.S. mortgage delinquency rate fell to 3.34% in February, a decrease of 1.29% compared with January and down 3.24% compared with February 2023, according to ICE Mortgage Technology’s First Look report. While the number of borrowers one payment behind rose modestly by 10,000, those 60 days late as well as those 90 or more days past due both fell to their lowest levels in three months.

Mortgage 370

Mortgage Inventory Appraisal 370

Real Estate News

MARCH 19, 2024

NAR’s proposed settlement in the commissions cases has quickly led to a flurry of headlines — many of them wrong. Here’s what agents need to do.

Agents 326

Agents 326

Housing Wire

MARCH 22, 2024

In real estate brokerage, growth is the name of the game and for 2024 (based on 2023 data), The Real Brokerage and The Agency are winning that game. Berkshire Hathaway HomeServices RW Towne Realty also had a strong showing. The 2023 housing market was a period of uncertainty with low inventory and industry challenges. For all of 2023, the Relitix Agent Movement Index , showed a marked decrease in agent movement.

Brokerage 450

Brokerage Real Estate Agents Realty 450

Appraisal Buzz

MARCH 21, 2024

Multistate mortgage lender Click n’ Close is now a preferred partner with The Mortgage Collaborative (TMC), a consortium dedicated to providing mortgage lenders with access to technology and mortgage banking resources. As a result, TMC’s members will have access to SmartBuy, a proprietary suite of down payment assistance (DPA) loan programs offered by Click n’ Close designed to give homebuyers an advantage in today’s heightened mortgage interest rate environment.

Mortgage 195

Mortgage Design Insurance Finance 195

The Appraiser Coach

MARCH 19, 2024

As a real estate investor, I have the opportunity to rub shoulders with all kinds of people, even other appraisers on occasion. With a recent house purchase in another state, I got a call from the appraiser of this property as he was planning a visit out there. We talked about what was still needed and how to go about the property moving forward. I never mentioned that I was in his same line of work, but it was a breath of fresh air when I got off the phone and I was reminded of a principle I te

Appraisal 195

Appraisal Clients Real Estate Business 195

Real Estate News

MARCH 16, 2024

Buckle up: The proposed NAR settlement will unleash a fast-moving wave of change – and opportunity, especially for buyer agents who can articulate their value.

Agents 284

Agents Buyers 284

Housing Wire

MARCH 20, 2024

The Federal Reserve ’s Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% for a fifth straight meeting on Wednesday. “The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%,” according to the FOMC statement. “In addition, the Committee will continue reducing its holdings of Treasury securities and agency de

Investors 453

Investors Mortgage Marketing Finance 453

Appraisal Buzz

MARCH 21, 2024

Jason Cave, former chief fintech officer and deputy director for the FHFA, has joined the board of advisors at Argyle , a provider of automated income and employment verifications for mortgage lenders. The 30-year government veteran is an internationally recognized leader in bank supervision and an outspoken advocate for housing finance innovation, Argyle says in a release.

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Government Finance Technology Modernization 195

Inman

MARCH 22, 2024

The news comes one week after NAR's whopping $418 million settlement was announced. Compass also agreed to make some minor changes to its business practices as part of the settlement.

Business 201

Business Realtors Brokerage 201

Real Estate News

MARCH 22, 2024

NAR’s settlement — and the emotions surrounding it — could lead more agents to consider trading in their membership for something new.

Agents 302

Agents 302

Housing Wire

MARCH 16, 2024

It’s spring 2024 and we have a Federal Reserve meeting this week. The 10-year yield is at the same critical point as last year before the Fed went hawkish and sent mortgage rates to 8% and the 10-year yield to 5%. Could this happen again? This is the week the balls are all in the Federal Reserve ’s court. I believe it is in the Fed’s interest to keep existing home sales depressed.

Housing Market 461

Housing Market Inventory New Listings Marketing 461

Appraisal Buzz

MARCH 21, 2024

Join us for today’s episode of the Appraisal Buzzcast, as host Hal Humphreys interviews Malinda Griffin, incoming President of the NAA. Malinda talks about her experience with the NAA, what’s to come in the future, and why she believes appraiser conferences and networking are so crucial for both appraisers and trainees. The ACTS conference is only a month away!

Appraisal 195

Appraisal Valuation 195

Inman

MARCH 19, 2024

The recent surge in mortgage rates could take some air out of a projected rebound in 2024 home sales, with deals driven mostly by households who can no longer put off their moves due to life events.

Mortgage 201

Mortgage Marketing 201

Real Estate News

MARCH 18, 2024

During a livestream with nearly 50,000 viewers, eXp leaders discussed NAR’s proposed settlement while agents flooded the chat with reactions.

Agents 291

Agents 291

Housing Wire

MARCH 20, 2024

Like with most things in life, real estate brokerages come in a variety of shapes and size, from white-glove service firms to discount brokerages to flat-fee firms that offer al a carte services. While all types of brokerage models see different levels of success in the current real estate environment, industry experts believe this may change due to the terms of the recently negotiated settlement agreement by the National Association of Realtors (NAR) in the commission lawsuits.

Brokerage 439

Brokerage Agents Realtors Real Estate 439

Appraisal Buzz

MARCH 21, 2024

After decreasing the previous two weeks, mortgage rates went back on the rise this week, with the average rate for a 30-year, fixed-rate mortgage increasing to 6.87%, up from 6.74% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.42%. “After decreasing for a couple of weeks, mortgage rates are once again on the upswing,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 195

Mortgage Construction Inventory Housing Market 195

Eyes on Housing

MARCH 20, 2024

Continuing NAHB’s commitment to be at the forefront of research on home buyer preferences, the 2024 edition of What Home Buyers Really Want was recently released at the International Builders’ Show. The primary objective of the study is to provide builders, manufacturers, architects, and the general residential construction industry with a thorough analysis of what.

Buyers 195

Buyers Construction 195

Real Estate News

MARCH 18, 2024

From buyer agreements to non-MLS places where cooperative compensation can appear, here’s what Keller Williams is telling leaders and agents about the deal.

Agents 271

Agents Buyers 271

Housing Wire

MARCH 22, 2024

Compass has joined the National Association of Realtors , Anywhere , Keller Williams and RE/MAX in settling the commission lawsuits. In a document filed with the Securities and Exchange Commission on Friday morning, the Robert Reffkin-helmed firm announced that it had reached a nationwide settlement in relation to the Umpa and Gibson suits on Thursday.

Brokerage 432

Brokerage Realtors Agents Clients 432

Inman

MARCH 21, 2024

They asked the court for more time to analyze the impact on their proposed settlement of NAR's proposed rule change banning the MLS display of commissions offered to buyer brokers.

Buyers 187

Buyers Realtors Brokerage Agents 187

Eyes on Housing

MARCH 20, 2024

The Federal Reserve’s monetary policy committee held the federal funds rate constant at a top target of 5.5% at the conclusion of its March meeting. The Fed will continue to reduce its balance sheet holdings of Treasuries and mortgage-backed securities as part of quantitative tightening and balance sheet normalization. Marking a fifth consecutive meeting holding.

Mortgage 167

Mortgage 167

Real Estate News

MARCH 19, 2024

In a call with media, NAR reps sought to dispel confusion and misinformation coming out of the March 15 settlement announcement.

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Housing Wire

MARCH 21, 2024

HousingWire Editor in Chief Sarah Wheeler sat down with Shayan Hamidi, CEO of Rechat , to talk about how he picks the right problems to solve, the incredible pace of AI innovation, and finding the joy in work. Sarah Wheeler: Let’s talk about your background, because you have both technology and real estate experience. Shayan Hamidi: I studied computer science, economics and math and my background is technology.

Real Estate 434

Real Estate Technology Agents Brokerage 434

Inman

MARCH 22, 2024

Agent rivalries, a transitioning market, family drama and a new mansion tax are just some of the key challenges that cast members will face on the reality TV show in its new season.

Agents 186

Agents Marketing Brokerage 186

Eyes on Housing

MARCH 20, 2024

As we reported earlier, immigrants make one in four construction workers. The share is significantly higher (31%) among construction tradesmen. In some states, reliance on foreign-born labor is particularly evident, with immigrants comprising 40% of the construction workforce in California and Texas.

Construction 167

Construction 167

Real Estate News

MARCH 22, 2024

The first of 90-plus brokerages not included in the NAR settlement reaches a deal that includes changes to its business practices as well as a monetary payout.

Brokerage 235

Brokerage Business 235

Housing Wire

MARCH 21, 2024

Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration ( FHA ) and Federal Housing Finance Agency ( FHFA ) should potentially do something about it, an influential mortgage trade group argued this week. In a letter submitted to FHA commissioner Julia Gordon and FHFA director Sandra Thompson on Thursday, the Community Home Lenders of America ( CHLA ) expressed concern that the cost of employment verifications charged by Equifax is “excessive” as

Insurance 431

Insurance Legal Finance Mortgage 431

Inman

MARCH 18, 2024

If homebuyers are no longer willing to pay full commissions, what happens to lender programs that incentivize consumers to work with partner real estate agents?

Agents 195

Agents Real Estate Agent Real Estate Mortgage 195

Eyes on Housing

MARCH 21, 2024

Despite the rising mortgage rates witnessed in February, existing home sales continued to improve and climbed to a 12-month high, according to the National Association of Realtors (NAR). However, low resale inventory and strong demand continued to drive up existing home prices, marking the eighth consecutive month of year-over-year median sales price increases.

Realtors 158

Realtors Inventory Mortgage 158