Housing Wire

OCTOBER 3, 2024

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 444

Sellers Agents Training Clients 444

Housing Wire

OCTOBER 22, 2024

Data from Altos Research shows that higher mortgage rates aren’t necessarily keeping sellers from listing their homes. The 15-year conforming rate has increased even more sharply since the Fed’s decision, rising from 5.7% 18 to 6.15% on Tuesday. For-sale inventory of single-family homes is up 33% from a year ago.

Sellers 467

Sellers Mortgage Marketing Construction 467

Housing Wire

NOVEMBER 4, 2024

As real estate practitioners adjust to the practice changes that took effect in August, and the industry waits for final approval of the NAR settlement from the court in November, questions continue about seller offers of compensation. Lowering commissions will not cause sellers to reduce their prices.

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Buyers Sellers Agents Real Estate 319

Appraisal Buzz

OCTOBER 16, 2024

The post Buyers and Sellers Embrace Market in Wake of Mortgage Rate Dip first appeared on The MortgagePoint. The post Buyers and Sellers Embrace Market in Wake of Mortgage Rate Dip appeared first on Appraisal Buzz. With a growth rate of 21.4% during the previous five years, these larger units had the highest growth rate.

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Sellers Buyers Marketing Mortgage 418

Housing Wire

OCTOBER 17, 2024

economy appears to be on firmer footing than previously thought, mortgage rates are forecast to end 2024 at 6% and home-price growth is also on the move. These are conclusions drawn by economists at Fannie Mae ‘s Economic and Strategic Research (ESR) Group. They’re now projecting gross domestic product (GDP) growth to fall from 3.2%

Sellers 511

Sellers Mortgage Buyers Business 511

Housing Wire

OCTOBER 28, 2024

While Monestier, who reportedly sold her Rhode Island home in 2022 and is part of the affected class, believes sellers were paying “inflated commissions,” she feels that prior to the settlement changes going into effect, the rules governing the industry were “clear and confusion did not reign supreme.”

Business 468

Business Sellers Realtors Buyers 468

Housing Wire

NOVEMBER 20, 2024

Nearly three quarters of recent American home sellers said in a Clever survey that using a traditional real estate agent is the best way to sell. Not only is this method popular, but it’s also well-regarded; 76% of sellers who worked with an agent felt their services were worth the cost.

Real Estate Agent 476

Real Estate Agent Real Estate Agents Sellers 476

Appraisal Buzz

NOVEMBER 13, 2024

More than half of home buyers (52%) negotiated with the seller, with 94% of those who did achieving success. About 34% of buyers paid below the asking price in 2024—up from 27% in 2022, when the market was more favorable to sellers. home ($501,500) adding $75,255, the upfront cost totals a staggering $107,230.

Real Estate 417

Real Estate Sellers Buyers Renovations 417

Housing Wire

DECEMBER 9, 2024

Supply growth could also come from more sellers, such as investors or distressed borrowers unloading. However, in most of the country, we have no growth from the seller side. In Florida and Texas, we see the rising costs of insurance , taxes and climate risk driving some sellers. more sellers than the same week a year ago.

Housing Market 418

Housing Market Marketing Inventory Sellers 418

Housing Wire

OCTOBER 9, 2024

Across the country, the topic is causing quite a stir as real estate professionals are sorting out how to incorporate buyer requests and seller offers of buyer agent compensation into a purchase and sales agreement. Seller might even withdraw their offer of a concession if they receive lower-than-expected offers.

Buyers 468

Buyers Sellers Agents Contracts 468

Housing Wire

OCTOBER 29, 2024

And it is a little bit early, but some of the preliminary data I have looked at show that sellers are continuing to pay buyer agent compensation.” I think ultimately, though, sellers should be looking at their net (profit).

Marketing 448

Marketing Real Estate Sellers Buyers 448

Housing Wire

SEPTEMBER 9, 2024

Like with the amount of earnest money deposit or including an inspection contingency, the amount the buyer is asking the seller to pay her agent is a term that impacts the strength of the offer,” Redfin chief economist Daryl Fairweather said in a statement. That will likely drive fees down over time.”

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Agents Marketing Sellers Buyers 475

Housing Wire

AUGUST 26, 2024

This probably reflects seller discouragement in a low-demand market, pulling their listings to wait until next year. Seller volume is on the way down Looking at the new seller volume this week we see only 65,000 new listings unsold plus another 12,000 immediate sales. That’s still roughly 9% more sellers than last year.

Inventory 467

Inventory Marketing Sellers New Listings 467

Housing Wire

SEPTEMBER 23, 2024

Seller repurchases of Freddie Mac mortgages rose by $430 million in the second quarter of 2024, a 29.1% By contrast, sellers of loans through fellow government-sponsored enterprise (GSE) Fannie Mae repurchased $268.5 We are seeing results from these efforts in fewer repurchases and greater efficiencies for both sellers and Freddie Mac.”

Sellers 514

Sellers Government Finance Mortgage 514

Housing Wire

OCTOBER 28, 2024

New listings go up This year continues to have slightly more sellers than last year but fewer than we used to get in past years. When you add it all together, there were just a 2% more new sellers hitting the market this week than a year ago. I mentioned that Florida rebounded this week with sellers that postponed for the storms.

Inventory 474

Inventory New Listings Sellers Contracts 474

Housing Wire

AUGUST 19, 2024

According to real estate professionals, the biggest adjustments they had to make this week was to get buyers to sign buyer representation agreements and to explain to sellers that while they don’t have to offer buyer broker compensation , they will most likely see most prospective buyers ask for some help in paying their agent.

Agents 476

Agents Sellers Realty Buyers 476

Housing Wire

AUGUST 14, 2024

This gave sellers the upper hand, but the market has turned in recent months. This has taken power away from sellers, who now face a shortage of potential buyers. This leaves sellers of existing homes having to compete on price with homebuilders. year over year. People still need to upsize or downsize.”

Buyers 467

Buyers Housing Market Marketing Sellers 467

Housing Wire

AUGUST 22, 2024

In a lawsuit filed Thursday, real estate startup Homie Technologies claims that home seller consumers were not the only ones harmed by the real estate industry’s allegedly anticompetitive practices. Buyers using Homie would receive some or all of any BAC offered by the seller,” the complaint states.

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Realtors Buyers Brokerage Real Estate 482

Housing Wire

SEPTEMBER 17, 2024

Like the vast majority of the country, the city’s housing market has been stymied by high mortgage rates, low inventory and mismatched expectations between buyers and sellers. Sellers think it’s a seller’s market. Altos considers a score above 30 to be indicative of a seller’s market.

Housing Market 462

Housing Market Marketing Sellers Buyers 462

Housing Wire

AUGUST 19, 2024

Several real estate groups recently criticized the Consumer Federation of America’s support for uncoupled buyer and seller agent real estate commissions, writing in HousingWire that, “CFA has seemingly lost sight of its core purpose advocating for those most in need of consumer protection.”

Real Estate 459

Real Estate Sellers Buyers Agents 459

Housing Wire

AUGUST 30, 2024

Pardon if my words convey a dash of sarcasm yet, after over four decades of helping buyers and sellers and running two of the largest brokerage companies in the world, I am compelled to read missives of the misinformed as they pop corks in celebration. This compensation may be fully or partially offset by the seller.

Real Estate 442

Real Estate Sellers Buyers Brokerage 442

Housing Wire

AUGUST 8, 2024

But the question is, if the buyer agency fees are being paid by the seller or by the buyer, how will that change the final sales price if it gets added in or taken out of the final price?” If sellers are unwilling to offer help with buyer’s agent fees, Mohtashami said they are effectively making their homes more expensive for buyers.

Housing Market 487

Housing Market Marketing Mortgage Sellers 487

Housing Wire

OCTOBER 15, 2024

“Frustration happens when one agent who is doing things the legacy way calls up the listing broker and asks what they are doing for cooperative compensation, and the listing broker tells them they aren’t, but their seller is willing to consider all offers, so ask for the compensation in the offer,” Srivatsaa said. Approaching the Aug.

Real Estate 448

Real Estate Brokerage Sellers Agents 448

Housing Wire

SEPTEMBER 30, 2024

Now, with agent commissions starting to decline, agents naturally want to convey the value of their services to buyers and sellers. We simply wanted to document the distribution of the price effect for both buyer and seller agents. The answer is, almost certainly not. “The There are a number of potential caveats to the research.

Agents 488

Agents Real Estate Agent Real Estate Sellers 488

Housing Wire

OCTOBER 24, 2024

According to Redfin , a month prior to the business practice changes going into effect, the typical American home seller paid a 2.55% commission to their buyer’s broker during the four-week period ending July 14. Additionally, 30% of agents reported that sellers were offering some level of compensation below that.

Agents 448

Agents Real Estate Sellers Brokerage 448

Housing Wire

DECEMBER 16, 2024

New listings When we look at the sellers entering the market, there were 45,000 new listings last week. That is 14% more home sellers listing their properties in December than the same week a year ago. This quantity of sellers is more similar to the pre-pandemic years than weve seen in a long time. more than a year ago.

Inventory 365

Inventory Housing Market Marketing Sellers 365

Appraisal Buzz

OCTOBER 31, 2024

A History of Policy Change In mid-March of this year, NAR announced an agreement to resolve litigation over broker commission claims asserted on behalf of home sellers. Traditionally, sellers paid the buyer’s agent commission as well as their own agent’s commission. Now we’re negotiating commission more frequently.”

Real Estate Agent 386

Real Estate Agent Real Estate Agents Sellers 386

Housing Wire

NOVEMBER 7, 2024

Wacksman: That’s the Zillow app for a buyer and a seller. What does the buyer or seller want? One has to keep up with where the buyer and seller is going. Dwiggins: With this app, how do you balance between what the agents and the brokerage want with the sellers’ wants? Technology pushes the consumer forward.

Real Estate 363

Real Estate Technology Sellers Agents 363

Housing Wire

JULY 22, 2024

So that’s a total of 84,000 total new sellers for single-family homes this week. That’s only 3% more sellers total this week than last year at this time. Remember that last year was characterized by that extreme shortage of sellers all year but there’s only 3% more sellers now. In fact, sellers seem to be pulling back.

Buyers 487

Buyers Inventory New Listings Sellers 487

Housing Wire

OCTOBER 7, 2024

Sellers feel more confident they’re actually going to be compensated fairly for the transaction.” This includes ensuring growth for the acquiring company, a successful exit for the seller and team retention. Rates are starting to go down. Buyers are feeling better about the market and that they are more able to afford a deal.

Mortgage 407

Mortgage Sellers Technology Valuation 407

Housing Wire

OCTOBER 3, 2024

This rule is no longer in place due to the terms of NAR’s home seller commission lawsuit settlement , which went into effect in August. While the National Association of Realtors (NAR) was not named as a defendant in the suit, it was listed as a co-conspirator along with several Realtor-owned MLSs.

Realtors 437

Realtors Real Estate Sellers Agents 437

Housing Wire

OCTOBER 23, 2024

How to prepare for a listing appointment Have a quick call with the sellers to ask them about their motivation, timeline, and price they have in mind. You can send everything electronically if they prefer, but I always like to have hard copies on hand just in case that’s easier for the sellers. Business cards.

Agents 432

Agents Real Estate Sellers Real Estate Agent 432

Housing Wire

AUGUST 28, 2024

Additionally, we will also see from August 17th the prohibition of compensation offers, meaning that MLS participants, subscribers, and sellers will be prohibited from making any offers of compensation in the MLS to buyer brokers or other buyer representatives.

Real Estate 469

Real Estate Sellers Agents Buyers 469

Housing Wire

OCTOBER 21, 2024

As a flat-fee brokerage, Homie charged sellers a flat fee to list their property on the MLS. While Homie sellers typically offered buyer agent compensation, the firm said these amounts were usually lower compared to offers by sellers working with traditional brokers. And Homie is a broker!

Brokerage 448

Brokerage Real Estate Agent Real Estate Sellers 448

Housing Wire

NOVEMBER 21, 2024

We’re trying to say that buyers and sellers, in my opinion, are willing to pay you. To close the conversation, Morris recommends certifications for buyer and seller agents to pursue. On the seller side, we have the Seller Representative Specialist (SRS) course. The biggest question is, how do I get paid?

Real Estate 360

Real Estate Real Estate Agent Sellers Design 360

Housing Wire

AUGUST 2, 2024

home seller pays a 2.55% commission to the real estate agent hired by their buyer, down from an average of 2.62% in January, according to a Redfin analysis of MLS data. The typical U.S. ” That’s in addition to the decade-long drop in buyer’s agent commissions, which fell from 2.89% in 2013 to 2.66% in 2023, Redfin reported.

Agents 476

Agents Buyers Real Estate Agent Sellers 476

Housing Wire

OCTOBER 21, 2024

Prior to the implementation of the current CCP in May 2020, listing brokers had two business days from the signing of the listing contract to either enter the listing into the MLS as “active” or submit a listing exclusion form, which had to be authorized by the seller, to the MLS. That should not be dictated by an association.

Brokerage 448

Brokerage Real Estate Sellers Agents 448