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Even amid the growing popularity of TikTok videos and Instagram reels, real estate openhouses are still one of the best ways to get new clients in the door (quite literally!). The right openhouse strategies will generate leads and establish your brand presence in high-demand neighborhoods among your most desired clientele.
Fintech software and hardware provider Mortgage Automation Technologies is launching The BIG Agent , a transaction management platform for real estate brokers and agents.
Mortgage Coach , a mortgage platform that enables lenders to educate borrowers with home loan presentations, announced that its platform will be integrated with Insellerate, a customer relationship management (CRM) platform. The post Mortgage Coach integrates with Insellerate appeared first on HousingWire.
Entering the mortgage industry as a loan officer can be both exciting and overwhelming. A key focus of your partnership should be to work openhouses on affordable homes for first-time homebuyers. It applies to leads, openhouse visitors, even people you see at the grocery store.
For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. With competition and, by extension, housing prices being extraordinarily high, prospective homebuyers can counterbalance this by locking in a low rate. Push for tech.
Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule.
Of the surveyed pool, 42% have sold since late 2022 as rising mortgage rates cooled the post-pandemic market. However, 60% of sellers are open to trading some traditional real estate agent services for cost savings. About 76% would consider a traditional real estate agent for their next sale, compared to just 25% for a discount agent.
After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The spread between the 30-year fixed-rate mortgage and the 10-year Treasury yield has narrowed after sitting at over 300 basis points, compared to the historic norm of 150 bps.
Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. The message was clear: if you weren’t already invested in new digital mortgage experience, then your competition already beat you to the sale.
For the mortgage industry, more often it’s about making the very hard choices these days – exiting a channel, deciding which star performer to let go, etc. One consequence of mortgage lenders – and LOs, for that matter – being on the ropes is the lack of investment back into their business.
As the mortgage industry continues to reduce capacity amid shrinking volumes, mortgage professionals are reluctant to spend on tech, services or solutions. Other responses included cutting down excessive incentives, business trips, openhouses and sponsorships. Of the 166 completed surveys, 31.9% were from the Northwest.
“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S.
This service allows homebuyers who work with a Howard Hanna agent and get their mortgage through Howard Hanna Mortgage Services to receive a credit of up to $10,000 (or 0.5% It also utilized technology tools and worked toward creating innovative solutions such as Buy & Borrow Bundle.
With the mortgage industry still rightsizing, mortgage professionals are worried about regulation of the industry and inflation that thins already tiny margins. of the surveyed mortgage professionals said loans falling through was the biggest challenge, ranking as the second most challenging factor. About 19.4% Of the total, 36.1%
million to more than 5,300 home mortgage consultants to resolve a pair of class-action legal claims that allege wage-and-hour violations in California, according to the settlement agreement in federal court. Wells Fargo, the largest depository mortgage lender in America, has been plagued by scandals in recent years.
Market data about the area, an invitation to an upcoming openhouse, or info about a coming soon listing nearby are all great items of value. Host openhouses for other agents When you have your own listings, absolutely do your own openhouses. We have 10 other ways you can find listings. Who’s it for?
On the flip side, interest generated from traditional openhouses declined from 2018, according to the National Association of Realtors ’ 2021 Profile of Real Estate Firms. In 2018, 1% of surveyed brokerages said their business came from openhouses.
House-hacking is a great way to build wealth and pay down your mortgage. You can order preview postcards, letters and a more broad openhouse invitation postcard to send to your sphere of influence at Wise Pelican. I will be hosting an openhouse at (address) this upcoming (day and time).
The PowerVP app will create new loans; invite customers to complete a digital mortgage; send a one-click conditional approval letter; lock in rates ; obtain real-time pricing and run a credit report, the company said in a release. It’s now entirely possible for us to qualify buyers for their dream home by the time they leave the openhouse.
Summary Real estate marketing apps Lead generation and nurturing apps Openhouse apps Social media apps Property search app s Team communication & workflow apps Commercial real estate apps Safety apps Methodology The full picture FAQs Real estate marketing apps Pivo Real Estate Monthly price: free with $399.99
The Consumer Financial Protection Bureau (CFPB) is tightening the screws on mortgage servicers and originators that violate consumer protection laws. In the lender’s direct marketing and openhouse materials, the models were white. The CFPB also identified “widespread errors” in lenders’ data disclosures.
Since COVID-19 has enforced more restrictions on openhouses, Redfin allows buyers to unlock the door of most RedfinNow listings via the Redfin app and self-tour seven days a week from 8 a.m. ” How the mortgage industry is working together to make housing more affordable. with no appointment needed.
Through this API integration, users can populate MLS and non-MLS rate flyers in a short period of time using “real-time, scenario-specific mortgage offers” delivered through Polly’s cloud-native Product and Pricing Engine (PPE), according to a prepared statement.
Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. According to the Mortgage Bankers Association ’s yearly forecast, purchase mortgage originations are expected to grow by 9% to $1.73
Baby boomers and millennials have dominated the home-buying conversation in recent decades, but a new generation of homeowners is browsing online listings, heading to openhouses and planning their home-buying budget. In addition to high interest rates, low housing stock means homes are still expensive.
Nationwide, Redfin reported that 16% of Black Americans who apply for mortgages are rejected, compared with 7% of white Americans. The CFPB found that lenders engaged in deceptive business practices, including violations of the Truth in Lending Act and the Equal Credit Opportunity Act, and provided inaccurate data on mortgage loans.
As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground. An originator since 1999, Read got his real estate license in 2014 and opened up his real estate brokerage in 2019.
Particularly in the 2023 economy, with interest rates on mortgage rates stubbornly perched around 7.5% Share community news, events, yard sales and, of course, any OpenHouses hosted by you, your team or brokerage. When executed correctly, openhouses can lead to a revolving door of new clients and leads.
million to create a loan subsidy fund for residents of predominantly Black and Hispanic neighborhoods in the Houston area, $750,000 for development of community partnerships to provide services that increase access to residential mortgage credit in those neighborhoods. Specifically, Cadence will provide $4.17 Redlining was among the issues.
Whether you’re a real estate agent needing to spruce up the yard for an openhouse or a DIY landlord who needs ongoing yard care for your rental properties, you can manage it all from the TaskEasy app. “Imagine if you could add yard maintenance to your mortgage and amortize it over 30 years.” Propertybase.
You may have heard the good news: In recent weeks, several mortgage and real estate brokerage execs have exclaimed that we may have already reached the bottom of the market. For prospective home buyers and sellers, that could mean a gradual decline in mortgage rates , which would unlock inventory and—dare I say—sales activity.
The mortgage process involves many moving pieces and relationships with a variety of stakeholders. Both the mortgage and real estate industries rely on relationships, whether that’s between you and the borrower, the real estate agent and the borrower or you and the agent.
That can include being a housing market expert and advising clients on the best times to list or buy a home; having referrals handy for inspections, repairs, staging and photography; understanding the mortgage origination process; and more.
Tips: Record a 15-second video of you doing something (for example, walking into an openhouse, sitting at your desk typing out emails, walking your dog, pretending to talk on the phone) and add audio or voiceover over the video discussing a topic.
Advertise openhouses Post about openhouses to both your grid and stories multiple times leading up to the event, as this ensures that it will reach the most people. It’s also important to include the details of the openhouse in the photo in addition to your caption.
They can give you talking points to use when meeting buyers, doing prospecting calls, or at an openhouse. Then you are prepared to say, “Here’s what’s happening in the mortgage market. Ask what’s happening in the market ? Here’s a new cool program that you need to know about.
The current mortgage market starkly contrasts with the booming years of 2020 and 2021. Attend openhouses, connect with local realtors, and engage with potential clients. Today, we see agents and business partners more open to conversations than ever before because people aren’t connecting like they used to.
Its the best place to find average mortgage rates. Or omit the MLS link and tease out the listing with stats and photos in your newsletter, and invite your audience to contact you directly for more information. This massive database goes back multiple decades and is consistently updated with each new census.
With falling mortgage rates of the past year or so, many in the real estate community thought: "oh my goodness, refi's and housing sales are going to boom with these low rates, and any Fed rate cuts will offset the damage of a plunging stock market and the economic damage of a pandemic.". With the first cut of 0.5%
HousingWire ’s lead analyst Logan Mohtashami added: “For almost 10 years now inventory has slowly been falling lower and lower because people get a house with a fixed rate mortgage and over time their income typically increases, but their shelter cost remains the same, so it becomes a really good deal for them.
All across the country, real estate agents are posting positive signs of change from the trenches and revealing they're suddenly dealing with packed openhouses and intensifying bidding wars.
Offer helpful tools like mortgage calculators on your website, first-time buyer guides, or tips on prepping a home for sale. Bring listings to life with virtual tours: Virtual tours and openhouses arent just trendytheyre practical. Thats where you come in.
Not when you have to compete with Zillow, Realtor.com and other agents who — maybe like you — are wondering where their next mortgage payment is coming from. Property search is intuitive and easy to use, and listing pages are attractive and come with bonus features, including a mortgage calculator. Everyone has listings.
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