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CRMLS removes seller concession fields from platform

Housing Wire

California Regional MLS (CRMLS) has decided to remove fields listing seller concessions from its platform. Additionally, CAR’s updated RLA form does not include any references to seller concessions. One such change outlined in the settlement is the banning of offers of buyer broker compensation from the MLS.

Sellers 459
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9 savvy strategies to get more real estate referrals

Housing Wire

A referral estate referral occurs when a licensed agent or broker passes along a prospective buyer or seller to another licensed agent to handle a transaction. 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.

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Housing inventory is up, but so are unsold listings. Are renters to blame?

Housing Wire

Redfin refers to these listings as “stale inventory.” “I explain to sellers that their house will sit on the market if its not fairly priced. There is some hope for potential buyers and sellers if mortgage rates decline. ” According to the report, 54.5%

Inventory 488
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JPAR’s Jessica Conrad on seller consultations and how agents can demonstrate value

Housing Wire

Conrad discusses best practices for transparent conversations between listing agents and sellers, the value of educating sellers on the new buyer agent compensation agreements , and ways to show your value as a professional agent. Velt chimes in and shares how important it is to be transparent with sellers.

Sellers 448
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Report suggests capital gains tax is discouraging older homeowners from downsizing

Housing Wire

The capital gains tax is a federal tax that is applied when the sale of a particular asset including a home, personal items, or stocks and bonds held as investments is sold for more than [a sellers] adjusted basis, referring to the initial cost of the item being sold, according to the IRS. That’s up from 1.3%

Sellers 397
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Who Is the Typical U.S. Homebuyer?

Appraisal Buzz

Some 80% homebuyers said they would refer their agency to others or use them again. The highest documented average age of home sellers was 63 years old. Only 6% of sales were for-sale-by-owner, an all-time low, while 90% of sellers sold with the help of a real estate agent, up from 89% the previous year.

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Market Correction or Seller Panic?

Appraisal Buzz

This might manifest itself with lower offers that are acceptable to the seller, but price isn’t the only aspect of a transaction. Anecdotally, sellers are worried that the threat of increasing interest rates with continue to erode buying power which will have a negative effect on their sale price now and especially in the future.

Sellers 435