While the rate at which home prices are continuing to grow is slowing down in markets across the country, they're still registering at record-high levels in many areas throughout the U.S. The last time home prices faced such pressing affordability numbers was right before the Great Recession, from 2007 ...read more
North Carolina Regional MLS (NCRMLS) has announced its expansion into Georgia with the strategic additions of Savannah MLS, Athens Area Association of REALTORS® & CLASSIC MLS and the REALTORS® of Greater Augusta. This strategic move marks a significant milestone for the real estate industry in the Southeast, solidifying NCRMLS's ...read more
Chicago-based Leading Real Estate Companies of the World® (LeadingRE) has announced that Tripti Kasal has joined its leadership team as senior vice president, member engagement. In this newly created role, Kasal will head LeadingRE's U.S. membership services team, focusing on increasing member engagement across...
As the commission lawsuits play out in court, the time to start revamping your firm's approach to buyer agency is yesterday. From buyer contracts and presentations to educational and marketing materials, real estate leaders will be sharing hands-on strategies for preparing your buyer agents...
Divorce is a challenging time and selling a home adds complexity. My guide offers a step-by-step approach to preparing your house for sale during a divorce, addressing legal, financial and emotional considerations. I have put considerable effort into educating you on the following topics:...
As a real estate agent, you know the potential of pre foreclosure leads, divorcees, failed listings, etc. But what if there are untapped niches with less competition and the same worthwhile returns? In a crowded market, discovering under-served niches can set you apart and help boost your odds of ...read more
Real Estate Webmasters has announced the launch of their latest CRM. The company stated that this new release propels them to the forefront of the integrated website, lead generation and CRM market, firmly establishing them as the number one choice for real estate professionals....
The 30-year fixed-rate mortgage (FRM) continued to decrease this week, from last week's average of 6.89% to an average of 6.77% this week, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac released Thursday. This week's numbers: The 30-year FRM averaged...
United Country Real Estate has announced a partnership with Virtual Properties Realty (VPR), one of the largest real estate companies in Georgia in agent count and sales volume, to create United Country Premier Properties. According to a release, this new venture combines the expertise and innovation of United Country ...read more
The Conference Board Leading Economic Index (LEI) for the U.S., which provides an early indication of significant turning points in the business cycle and where the economy is heading in the near term, declined by 0.2% in June, following a decline of 0.4% (upwardly...
Citing recent media interviews given by CoStar executives, Move, Inc.—the parent company of Realtor.com®—filed for a preliminary injunction in a California U.S. District Court on Aug. 14, asking a federal judge to “(restrain and enjoin) Defendants CoStar Group, Inc. and (former Realtor.com employee) James...
The National Association of REALTORS® has announced the 12 companies participating in the Innovation, Opportunity & Investment (iOi) Summit's Pitch Battle competition from August 28–29 in Chicago. NAR's stated that their venture capital arm, Second Century Ventures, is set to present the live event,...
Above: Marki Lemons-Ryhal, Elias Astuto and Christa Ross. With the National Association of REALTORS®' (NAR) post-settlement practice changes taking effect next month, real estate professionals are faced with the reality of having to alter the way they do business. The weight is also being...
In the latest RISMedia webinar—“Buyer Agency Essentials: Strategies for Success and Compliance in the New Normal”—John Featherston, founder and CEO of RISMedia, welcomed co-moderator Joe Rand, chief creative officer for Howard Hannd | Rand Realty, and panelists Gretchen Pearson, owner and president of Berkshire...
How many tomes have been written on this subject? Probably millions. Depending which stats one reviews, seems that of all the bestsellers ever written about 15-20% are on leadership. Ranked by sales, authors such as Simon Sinek and Patrick Lencioni are sure to be...
Above, Matt Desmond Matt Desmond President and Qualifying Broker Santa Fe Properties – a member of Leading Real Estate Companies of the World® Santa Fe, New Mexico https://www.santafeproperties.com Region served: Santa Fe Years in real estate: 19 Number of offices: 2 Number of agents:...
Motto Mortgage—RE/MAX's mortgage franchise—has opened a new office in Nashua, New Hampshire, serving all markets throughout the state. Motto Mortgage Sail Home is now open, marking the first ever franchise office location in the state for the Motto Mortgage brand. The company stated that the new office will provide ...read more
Single-family housing starts dropped in June as a result of raised interest rates for mortgages and construction and development loans, despite overall housing starts jumping 3% to a seasonally adjusted rate of 1.35 million units, according to new data provided by the U.S. Department...
As the real estate industry braces for new rules that remove all offers of agent compensation from for-sale listings, mortgage lenders are weighing their options on how to best help cash-strapped buyers who will ultimately be responsible for paying their agent's commission. Beginning Aug....
Mortgage applications rose this week as mortgage rates saw a decrease, increasing 3.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Applications Survey for the week ending July 12, 2024. This week's data: The Market Composite Index, a...
Foreign buyers purchased $42 billion worth of U.S. existing homes from April 2023 through March 2024, retreating 21.2% from the prior 12-month period, according to a new report from the National Association of REALTORS® (NAR). International buyers purchased 54,300 properties, down 36% from the...
The MOB gathered in Dallas recently at Coldwell Banker Apex for one of their twice-yearly meetings. One of the unique hallmarks of the residential real estate business is its widespread commitment to collaboration for the greater good, from the listings shared among brokerage firms to the strategies exchanged ...read more
While the homebuying journey may have ended happily for you and a new client, your work is not over. Keeping in touch with past clients for future endeavors is a crucial way agents maintain contacts that lead to new sales and referrals. One of...
High housing costs are one of the greatest burdens facing Americans today—and President Joe Biden and his administration have announced a new plan to deal with rising costs that are keeping prospective buyers from achieving the American Dream of homeownership. The proposal, first reported...
Editor's Note: Superstars in sports and celebrities in real estate is a new series highlighting either high-profile professionals who have made a career transition into real estate, or those agents who represent such high-level individuals in the sale or purchase of their luxury homes....
The National Association of REALTORS® has announced RentRedi as a new partner with NAR REALTOR Benefits®. RentRedi offers an award-winning, comprehensive property management platform that simplifies the renting process for landlords and renters by automating and streamlining processes. As part of the agreement, NAR...
Mortgage rates hovering near 7% and elevated rates for construction and development loans continued to put pressure on builder confidence in July, according to the latest National Association of Home Builders (NAHB) data. Experts feel, however, that this downward trend may soon reverse course...
In a surprising statement made during a speaking engagement at the Economic Club of Washington D.C. on July 15, Federal Reserve Chair Jerome Powell said that inflation would not necessarily have to hit 2% before interest rates are cut. This statement constitutes a major shift from previous public comments ...read more
United® | Virtual Properties Realty (VPR) has announced a significant milestone—reaching 5,000 agents, posting an all-time record sales performance and a four-year agent growth rate of 35% since merging with United Real Estate in 2020. Celebrating its 25th anniversary this year, United | VPR stated it has joined ...read more
Above: Rick Haase, President, United Real Estate United Real Estate yesterday became the latest company to settle seller lawsuits, according to a filing in federal court, while several other companies simultaneously chose to push forward and continue fighting seller commission cases, potentially indicating there...
In a July 12 ruling, the U.S. Court of Appeals for the District of Columbia Circuit in Washington, D.C., denied the National Association of REALTORS®' (NAR) request for a rehearing in its dispute with the Department of Justice (DOJ). NAR and DOJ had originally...
Century 21 Real Estate has announced its third annual fundraising effort in support of local communities served by the brand's global network of independent agents and brokers. Century 21 stated that in 2022 it reimagined its brand anniversary date as the first-ever International Day of Giving dedicated to showcasing ...read more
Selling a condo for the first time can sometimes be challenging. My guide will simplify the process and help you achieve a successful sale. I will provide you with the following helpful information to help you come out on top with your first condominium...
Woodbury, New York—Two heads are almost always better than one when facing uncertainty. When facing a lot of uncertainty—for instance, when a parade of class-action lawsuits upend century-old precedent in how your industry operates—it might be better to get as many experienced minds together...
Last year proved to be a difficult one for REALTORS®, a direct result of a recovering, post-COVID market that lacked inventory and housing affordability—causing existing-home sales to fall to the lowest figure since 1995. Almost a quarter (26%) of REALTORS® named these the most...
As the broker in charge at Berkshire Hathaway HomeServices Hilton Head Bluffton Realty, Christina Galbreath-Gonzalez is grateful for the resources and support the firm's affiliation with the parent company brings—not only at a global level, but also in nurturing the growth of agents. “Our...
Editor's note: The COURT REPORT is RISMedia's weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Here in the liminal space between when the National Association of REALTORS® (NAR) agreed to a settlement, and when that agreement will...
Reliance has expanded its website services for real estate customers under its RELIANCEai marketing engine, at the center of which is the new social advertising tool called MediaBoosterAI. This new digital advertising integration allows Reliance clients to activate ad campaigns promoting their active property listings to behaviorally targeted lists ...read more
Despite recent scrutiny, the California Association of REALTORS® (CAR) has shown a willingness to take feedback and adapt ahead of fast-approaching policy changes slated to hit the industry. CAR officials announced Wednesday that 30 new and revised forms were released as part of a...
The year was 1994. Netscape Navigator came to market, Tom Hanks portrayed Forrest Gump and we couldn't get “The Lion King's” “Hakuna Matata” out of our heads. It was also the year two pioneering tech companies were born: Amazon and Delta Media Group. Both tech startups would share a ...read more
RE/MAX has announced the affiliation of Utah's Stratus Real Estate Solutions to the brand.. Now operating as RE/MAX Stratus, the 60 agents with the office will continue to serve buyers and sellers throughout the Wasatch Front. Of the transition, Ernad Mehinovic, principal broker and...
Harry Norman, REALTORS® has announced the launch of its Luxury Marketing Services Team, a new division dedicated to providing exceptional service to clients buying and selling premier properties in the Atlanta region and beyond. Led by Vice President of Luxury and Culture Emily Norris,...
Editor's Note: The Mortgage Mix is RISMedia's weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. As of July 11, 2024, the average 30-year mortgage rate is 6.89% (down from 6.95% the previous week). The 15-year rate is 6.17% (down...
The mortgage market has been going through a gradual change as it adjusts to higher-for-longer interest rates. With this shift, a rising tide of higher mortgage rates has reshaped the landscape and, notably, is creating a shrinking pool of homeowners with mortgage rates below...
In today's complex and competitive real estate market, ongoing training and coaching is crucial for professionals aiming to succeed and stand out. In addition to equipping real estate professionals with the necessary tools to refine their skills, improve service delivery and enhance their negotiation...
During the first half of 2024, 177,431 properties in the U.S. had foreclosure filings, according to the Mid-Year 2024 U.S. Foreclosure Market Report from ATTOM Data. This figure represents one in every 794 housing units in the United States. These rates are down 4.4% from where foreclosures were in ...read more
With the coming changes no longer allowing offers of compensation on MLS platforms, the cooperative compensation rule lies at the center of the commission lawsuits, putting MLSs squarely in the middle of the conversation. Two of the nation's largest MLSs recently made headlines in RISMedia news when they announced ...read more
While some markets may be starting to see a slight easing in home prices, housing affordability remains a consistent challenge for many markets nationwide. To address the challenge, state and local governments have adopted policies and programs to help alleviate pressure on potential middle-income...
Twenty years ago, Claudia Stallings' parents decided to make the move to Knoxville, Tennessee, and she found herself helping them with their search and discovering a passion for real estate. Stallings became an agent in 2004, was a principal broker for a large branch...
Estate planning is arranging for the management and disposal of a person's estate during their life and after death. It ensures your assets are distributed according to your wishes and provides financial security for your family. I will provide the following information to educate...
Following the first dip in consumer prices in four years and home prices in some markets declining, the average 30-year fixed rate mortgage followed suit, dropping from 6.95% last week to 6.89% this week, according to the latest Primary Mortgage Market Survey® (PMMS®), released...
Mortgage rates may finally start to begin a steady lower trajectory nationally following encouraging news on inflation. The Consumer Price Index (CPI), an inflation gauge measuring goods and services costs across the U.S. economy, declined 0.1% in June on a seasonally adjusted basis, after...
CENTURY 21® AllPoints Realty and Realty Quest, Inc. have announced a strategic merger that marks additional Florida expansion for the brokerage. “We've had the opportunity to work alongside Phil DeFronzo and Patti White through a very successful mortgage joint venture in AllPoints Mortgage. Their business insights and professionalism are ...read more
The information overload can be overwhelming when meeting with first-time homebuyers. There may have been a phone convo or two, plus some texting and emails, but you won't know everything concerning what they already know about the home-buying process, or how much research they've...
Steve Capezza is the first and current president of brokerage platform Side, which offers member agents/brokers a suite of technology services they can use to grow their companies. He believes that Side's collaborative nature is one of the many things that makes it stand...
Just yesterday, I sat down to craft this blog, filled with thoughts stirred by the upcoming July Fourth celebrations—a time of year that always sweeps me back to my childhood joys. To better connect with my team, I've introduced an “Innerview” consisting of 18...
The excitement of becoming a real estate agent: Helping families find the perfect forever home while sharing knowledge about the neighborhood and its history—it all sounds so simple at first. But, it takes some time to get comfortable and establish yourself in the local...
Brian Buffini, real estate training icon and chairman and founder of Buffini & Company, will share his industry insights during “Brian Buffini's Bold Predictions: Mid-Year Update,” an upcoming live broadcast airing on Monday, July 22 at 10 a.m. PT/1 p.m. ET, the company has...
Coldwell Banker Warburg has announced that agent David Harris and broker Bill Kowalczuk have returned to CBW after brief stints at other brokerages, and that the company is also welcoming broker Sean Adu-Gyamfi and agent Guy Hobson. “Having Bill Kowalczuk and David Harris rejoin...
Although key defendants in the wide-ranging buyer-side commission lawsuit known as Batton recently sought to have their cases dismissed by arguing a lack of personal jurisdiction, plaintiffs have drawn these real estate firms back into the fray by filing new claims in new states....
JPAR has announced the addition of its newest franchise office, Shipmate Real Estate +JPAR in Chesapeake, Virginia. The office serves the vibrant Hampton Roads market, including Williamsburg, Suffolk, Hampton, Newport News, Chesapeake, Virginia Beach, and Norfolk. Under the leadership of broker/owner Keisha Rorie, Shipmate...
As the 30-year average mortgage rates teased 7% this past week, mortgage application activity saw a second-straight week of decreases, down 0.2% from last week's 2.6% dip, according to the latest Weekly Applications Survey from the Mortgage Bankers Association's (MBA) for the week ending...
The recent unmasking of REcolorado's buyer—Joseph E. Burks, president of Equity Title of Colorado, who owns a company called Mazl LLC that will take control of the MLS—has brought up much conversation on what impact it will have on the MLS industry. While RISMedia's...
It would be an understatement to say there's no love lost in the escalating real estate portal feud being waged by Homes.com and Realtor.com., as the two companies have major differences of opinion regarding the veracity of allegations in the continuing lawsuit saga. The...
It's rather common that professional athletes choose to pursue other avenues of employment in their post-playing days, and presently, real estate seems to be one path that's catching the attention of many who are looking to continue utilizing their competitive edge—especially retired players who...
Editor's Note: Social Skills is a bi-monthly feature in RISMedia's Daily News focused on social media and digital marketing tips, trends and solutions for agents and brokers. In the modern age of social media forms and the storytelling that comes with them, blogging feels...
Housing inventory saw a big increase in June, as the number of homes actively for sale grew for an eighth straight month and increased 36.7% year-over-year, according to new data from Realtor.com®. Realtor.com's Monthly Housing Trends Report for June found that new listings increased 6.3%, but were down 24.4% ...read more
CoStar has agreed to change some key advertising claims regarding its Homes.com residential portal amid a contentious back and forth with bitter rival Realtor®.com, following a recommendation from the Better Business Bureau (BBB) as both companies continue to battle viciously over metrics, measurements and...
Federal Reserve Chair Jerome Powell testified before the Senate Committee on Banking, Housing and Urban Affairs, mostly dodging questions about rate cuts while being pressed by lawmakers on housing affordability, inventory and a wobbly commercial real estate market. Powell struck a measured tone; he...
Last year, the National League of Cities and the American Planning Association embarked on an effort to discover and advance locally driven solutions to our country's housing supply and affordability crisis. The goal? To unite the public and private sectors to help local governments...
Purchasing a condo is a significant investment. Like any other real estate purchase, it pays to understand what you're buying. A thorough condo inspection is essential to make a well-informed decision and avoid pitfalls. I will provide you with the following information so you...
Editor's note: The COURT REPORT is RISMedia's weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Realtor.com® parent Move, Inc. files lawsuit against CoStar Realtor.com parent company Move, Inc. filed a lawsuit in the U.S. District Court in...
Consumers warmed a little to the housing market this month as Fannie Mae's Home Purchase Sentiment Index saw an increase back to the plateau it was set at earlier this year. Fannie Mae's HPSI increased 3.2 points in June to 72.6, rebounding from the...
At their June meeting, Federal Reserve members acknowledged there's been notable progress in lowering inflation, but it's not going as quickly as they'd like to consider cutting key interest rates, according to meeting minutes released Wednesday. While the central bank conceded that the economy...
Real estate teams are favored for their ability to drive business volume, provide specialized knowledge and deliver greater customer service outcomes. They can reward in many ways, from improving client relationships to creating greater efficiencies in processes. But not all teams are created equal and, as the research suggests, ...read more
In an exclusive interview with RISMedia on July 5, CoStar CEO Andy Florance lambasted the new lawsuit filed by Realtor.com parent Move, Inc. that claimed a former Move employee, now working for Homes.com parent CoStar, stole proprietary information from his former employer, labeling it...
Mere weeks after the Realtor.com and Homes.com CEOs hurled hurled insults and accusations at each other as the residential real estate portal giants fight for second place behind Zillow, the battle was ratcheted up further on July 2 when Realtor.com parent Move, Inc. filed...
The complicated process of ensuring that the real estate industry complies with incoming policy changes is underway, as concerns about loopholes surrounding commission-sharing have already started a discourse among regulators and innovators—potentially, an amicable one. The ongoing dialogue was highlighted by a recent meeting...
For a year straight, Atlanta sat atop the list of the most overvalued housing markets, according to researchers at Florida Atlantic University (FAU) and Florida International University (FIU). Now, Detroit steals that spot, but by just a smidge. May data analyzed by researchers at...
As the market hopes to rebound, new opportunities for growth through mergers and acquisitions are emerging for savvy brokers. Real estate leaders in the M&A space will discuss how to shift your strategies toward company expansion to grow your footprint and meet the new...
Home prices continue to grow across the U.S., although the monthly growth has slowed down, according to CoreLogic's Home Price Index for May 2024. CoreLogic data found that home price gains came in at 4.9% year-over-year in May, the 148th consecutive month of annual...
A new report from ATTOM, released July 3, shows that median-priced single-family homes and condos remained less affordable in the second quarter of 2024 compared to historical averages in 99% of counties around the nation with enough data to analyze. The latest trend continued...
Weichert Real Estate Affiliates has announced the company has been named to the Franchise Business Review's “Culture100” list for the fifth-straight year, an honor that recognizes the top 100 franchise brands nationwide with the best cultures. According to a release, Weichert was among more...
As real estate agents, you face countless challenges and obstacles in your journey to success. It's easy to get discouraged when things don't go as planned, but here's something every agent should consider, regardless of how long you've been an agent: Every failure is...
Buying an as-is property can be a risky but rewarding investment. You must inspect thoroughly and prepare to make informed decisions. I will provide an education on the following: Key areas to inspect in an as-is home. Specific advice on conducting and preparing for...
Migration has always been a cornerstone of the housing market. Moving, whether it be across state lines or immigrating to the U.S. from another country, is what gives REALTORS® a significant amount of their business. Evaluating migration trends can keep agents ahead of the...
ERA Prime Real Estate Group—with offices in Farmington and Grand Blanc—has acquired Compass Realty Pro in Southgate. The move creates a larger service area in markets serving the Greater Detroit Metro region, increasing ERA Prime Real Estate Group's service area and market share further...
The sale of REcolorado, the 16th-largest MLS nationwide with 25,000 members, has become mired in controversy, as evidence suggesting conflicts of interest and self-dealing upend a transaction already wrapped in secrecy, with RISMedia confirming the previously undisclosed identity of the alleged buyer. As previously...
The sale of REcolorado, the 16th-largest MLS nationwide with 25,000 members, has become mired in controversy, as evidence suggesting conflicts of interest and self-dealing upend a transaction already wrapped in secrecy, with RISMedia confirming the previously undisclosed identity of the alleged buyer. As previously...
The one constant in real estate is change: markets fluctuate, busy periods are followed by slower ones, and consumer needs and trends constantly evolve. To thrive in this dynamic landscape, it's critical for agents to remain adaptable, stay informed and continually develop their skills...
The Keyes Company announces the significant addition of a high-performing team of more than 300 real estate agents previously affiliated with Coral Shores Realty. The team will be based in the Keyes Plantation office. Ron and Alex Cika head up the new arrivals, bringing...
Property Highlights: Location: Bimini, Bahamas Listing Price: $3.5 million Features: Private residences offering private docks, nearby beach access and expansive indoor/outdoor living spaces. Added Appeal: World-class amenities such as spa and wellness facilities, a deepwater marina, private golf course and members-only clubhouse. Imagine a painter blending the most exquisite ...read more
Real estate business owners appear to be putting an increased emphasis on agents who are willing to grind, honing in on so-called “business-minded” entrepreneurs while relying on company culture as a recruitment tool in the wake of changes created by the National Association of...
Above, Massoud Atallah Massachusetts-based Lamacchia Realty has announced long-time industry vet and mergers and acquisitions expert Massoud Atallah has joined the firm as senior vice president of business development. The announcement, made June 17, stated in his new role as part of the company's...
Bright MLS, the Mid-Atlantic multiple listing service and SentriLock smart lockbox provider have announced a strategic collaboration that will offer innovative showing service technology to Bright subscribers. According to a release, the integration of SentriLock's SentriKey Showing Service® will provide choice for Bright's brokers...
Several mortgage companies were beset by cyberattacks in 2023, and as real estate companies carry valuable customer information, this makes them valuable targets. If you're on a team, you share the risk with your teammates. There's a plethora of good options out there to...
Above, Chad Griffith, left, and Dustin Griffith Born and bred in Colorado, Dustin Griffith played five seasons of professional baseball before trading in his glove for a real estate license in 2007. As part of an established team almost from the outset of his...
This week, I also came across an inspiring article shared by my friend and esteemed colleague, Rishi Bakshi, Broker & General Manager at Intero Real Estate Services, East Bay. Authored by Matthew Ferrara, the piece explores the elegant Japanese concept of omotenashi, which represents...
The January issue of RISMedia's Real Estate magazine is now available, and not to be missed are several exclusive features, including an in-depth look at how agents can avoid ‘steering' their clients and discussing commissions in a post-NAR settlement world. In addition, we look...
Selling a condo “as is” can be a strategic choice but comes with benefits and challenges. When you sell a property as is, you agree to sell it in its current condition without making any repairs or improvements. I have put significant effort into...
Inventory is a consistent hurdle to the housing market, and a hurdle to increasing inventory is a lower-than-needed amount of new construction. In June 2024, new housing starts were reported as being at a four-year low. The University of California Berkeley's Terner Center for...
To celebrate Pride Month in June, Realtor®.com recently released its findings of the top seven cities in the U.S. with a strong mix of housing affordability and inclusivity for LGBTQ+ people. However, some of the findings might be a head-scratcher, because a few metros...
Judge Stephen R. Bough, who oversaw the Burnett case, has set a trial date for the central national copycat lawsuit which has sought to include every major brokerage that did not receive immunity from the National Association of REALTORS®' (NAR) settlement—though a jury isn't...
EXIT Realty is facing some complications in Gibson vs. NAR, as the plaintiffs do not agree with their opt-in to the NAR settlement and subsequent request for a stay. A filing in the Gibson case—the largest class-action lawsuit filed by sellers—from Friday, June 28...
The 2024 U.S. Presidential election—currently about four months away—kicked into a higher gear on June 27 with the first debate between the all-but-official major nominees, President Joe Biden and former President Donald Trump. Housing policy was not a central focus of the debate, as subjects like immigration, foreign wars, ...read more
Consumer sentiment continued to waiver in June, as economic signs gave little hope for inflation relief in the near future. Consumer sentiment fell 1.3% in June, from 69.1 in May to 68.2, according to the University of Michigan's latest report. This is the fourth...
Before the continuous wave of litigation and investigations that has engulfed the residential real estate industry this past year, the Burnett vs. NAR case and its historic $1.8 billion settlement award handed down to the plaintiffs on October 31, 2023 set the precedent. Regular...
Before the continuous wave of litigation and investigations that has engulfed the residential real estate industry this past year, the Burnett vs. NAR case and its historic 1.8 billion settlement award handed down to the plaintiffs on Oct. 31 set the precedent. Regular readers...
Finally, inflation numbers open up the door for the Federal Reserve to potentially cut rates this September. The personal consumption expenditures (PCE) price index—the Fed's preferred measure of inflation—rose 2.6% year-over-year in May, with a change of 0% between May and April. Ultimately, this...
eXp Realty has announced that Chief Marketing Officer Wendy Forsythe has joined the eXp eXtend a Hand program as a trustee. eXtend a Hand has been a cornerstone of the company's commitment to community and service since its inception in 2017, eXp stated. As...
Editor's Note: The Mortgage Mix is RISMedia's weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. –United Wholesale Mortgage's (UWM) 0% down payment product has faced some recent backlash from the industry, as reported by National Mortgage News. The program...
As National Housing Month comes to a close, REALTORS® reflect on what matters most in their business: their clients. In a relationship business like real estate, creating memorable experiences with clients is the cornerstone of what agents do. Buying a home is one of the most important investments a ...read more
Above, Chad Ruggles Chad Ruggles spent his first 20 years out of college working in the consumer finance business for CitiFinancial before making a move in 2014 to the mortgage industry for Carrington, where he was asked to take over the company's real estate...
Embracing artificial intelligence (AI) is more than staying ahead of technology. It's also about enhancing our ability to make better-informed decisions driven by data, enabling personalized customer experiences at scale, and exploiting extraordinary productivity gains both for MLS staff as well as brokers and...
Selling a townhouse? A thorough home inspection can ensure a smooth transaction. Knowing what inspectors look for helps you address issues beforehand. I will provide the following information to help navigate the townhouse inspection process: The importance of a pre-sale inspection Detailed checklists for...
An expensive market has long been a pressing issue at the forefront of potential home purchases for young homebuyers, and new data from Bright MLS indicates that affordability will be the greatest housing market challenge for the rest of this year. In an update...
In the current uncertain environment, it is more important than ever that we as an industry communicate the critical role housing plays in the U.S. economy. I am probably biased, since I am a researcher, but I believe there needs to be more data-backed,...
The averaged 30-year-fixed-mortgage rate stepped down for the fourth-straight week, dipping to 6.68% from 6.87% last week and marking its lowest point in the last three months, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac released Thursday. This week's numbers:...
My real estate career spans over 30+ years, currently as the Senior Leadership Instructor for Better Homes and Gardens Real Estate. During my multiple decades in this business, I've been a top producer in the Hall of Fame for selling and have coached and...
RISMedia garnered several special recognitions recently from The National Association of Real Estate Editors' (NAREE) 2024 Journalism Competition held during its annual conference, this year in Austin, Texas June 18-20. This prestigious competition, now in its 74th year, recognizes excellence in reporting, writing and...
A judge in the Southern District of New York paused two key commission cases on June 26 after an extensive back and forth between plaintiffs, defendants and the judge, in a decision that could resonate around the country as Burnett copycats play out in...
Editor's Note: The Buyer-Agent Playbook is a new iteration of RISMedia's biweekly Playbook segment, specifically centering on buyer agency and how agents are navigating the changes and trends in a post-NAR settlement environment. The series will provide brokers and agents with insights and information...
Pending home sales in May slipped 2.1%, according to the National Association of REALTORS® (NAR). The Midwest and South posted monthly losses in transactions, while the Northeast and West recorded gains. Year-over-year, all U.S. regions registered reductions. This month follows the trend of last,...
No one said change would be easy. Many real estate organizations find that to be truer than ever about buyer representation agreements, as some REALTOR® organizations have come under fire for their attempts to abide by incoming policy changes. That has been the case for the California Association of ...read more
The real estate world has undergone a significant transformation. The NAR settlement has disrupted the industry, forcing everyone to adapt. As the landscape shifts, REALTORS face new challenges such as: Eroding value: Increased transparency may lead clients to question their agents' worth. Tighter margins:...
The real estate industry faces a triad of challenges in today's marketplace: continued low inventory, delivering fewer sales, stubbornly elevated mortgage interest rates and the potential impact of the commission lawsuits that have already begun to reshape the landscape. As a result, leading industry...
After going through the time and effort of getting an accepted offer for your seller's home, the absolute last thing you want (or need) is a problem with the appraisal that follows. Assuming a mortgage will be taken by the buyer, lenders will want...
As mortgage rates remained elevated, tipping over the 7% mark last month, sales of new homes fell significantly in May, down 11.3% below the revised April rate of 698,000 and 16.5% below the same activity a year ago, according to the latest data released...
The REALTOR® Association owners of REcolorado®, made up of the Denver Metro Association of REALTORS® (DMAR) and the South Metro Denver REALTORS® Association (SMDRA), have determined through a letter of agreement to sell the greater Denver MLS to a private entity outside of the...
Even in a seller's market there are always “hard-to-sell” properties. At the height of the frenzied market during the pandemic years there were still properties that remained unsellable. There will always be properties that simply do not meet affluent buyer expectations, whether it's due to location, price, size, or ...read more
A key challenge that real estate agents face is retaining clients and building long-term relationships. It's not uncommon for clients to switch agents for their next transaction. However, ensuring client retention is crucial, as it guarantees that clients remember you and refer you to...
RE/MAX has announced that broker/owners Steven Smith, Wes Watson, Dan Porlier and Brad Howard of Davenport Realty have officially opened RE/MAX Icon Realty, bringing nearly 130 agents to the brand across two offices in London and Waterloo, Ontario. The four broker/owners previously established Davenport...
Mortgage applications rose for the third straight week as mortgage rates continue to drop, increasing 0.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Applications Survey for the week ending June 21, 2024. This week's results include an...
Better Homes and Gardens Real Estate has announced the affiliation of BHGRE Fruit & Wine, located in Palisade, Colorado. Celebrating its 20th anniversary this year, the boutique family brokerage works with clients on farm, luxury, residential, commercial and land transactions throughout the Grand Valley...
Gathering more than 400 of real estate's top brokerage leaders and industry experts, RISMedia's 36th Annual CEO & Leadership Exchange, taking place September 4 – 6 in Washington, D.C., will feature not only a comprehensive educational agenda, but unparalleled networking opportunities, such as Mix,...
As consumers continue to see little relief from inflation—with the Consumer Price Index registering no change in May and the Fed again holding the line with no rate changes—confidence reversed course and fell slightly in June. Consumer confidence decreased from 101.3 in May to...
Editor's Note: Social Skills is a bi-monthly feature in RISMedia's Daily News focused on social media and digital marketing tips, trends and solutions for agents and brokers. Summer is in full swing, and with a new season comes new strategies for success. With home...
The S&P CoreLogic Case-Shiller Index, a key measure of U.S. home prices, reached a new high in April. The rate of price increases has tempered, however, compared to previous months, which could result in a market stabilization as mortgage rates continue to remain generally...
Above, Troy Reierson Troy Reierson, CEO of Berkshire Hathaway HomeServices Arizona, California and Nevada Properties, has been in and around real estate for more than two decades—jumping feet first into the mortgage industry before moving into the technology space and ultimately getting involved with HomeServices of America via their ...read more
Pricing a condo correctly is essential for a successful sale. I will guide you through detailed, actionable steps to ensure your condo is priced right. You will learn the following information which will help you price your condominium appropriately based on the current real...
In the bustling realm of social media, it's essential to recognize that success isn't solely achieved through content creation. While crafting compelling content is undoubtedly valuable, it's just one segment of a multifaceted strategy needed to thrive online. In the digital landscape, where attention...
From left, Scotta Larsen, Wendy Bowen and Jill Weisswasser The Denver Trio Team began almost 10 years ago with three women who share the same passion for real estate. Hailing from Iowa, Michigan and Minnesota, they possess what they like to call “that Midwest...
Real estate has always been a social business. Before the internet and social media, a REALTOR'S® marketing has always heavily relied on word of mouth and in person connections. Reviews and referrals are a huge part of this, and cannot be overlooked. Client reviews...
Editor's note: The COURT REPORT is RISMedia's weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. While the National Association of REALTORS®' (NAR) settlement in class-action lawsuits has yet to be officially approved, the consequences of that settlement...
Despite offering a cautiously positive assessment of the settlement struck by the National Association of REALTORS® (NAR) late last month, Department of Justice (DOJ) antitrust regulators are signaling they will push for more changes to real estate rules outside the significant shifts already looming...
In a move likely to inspire deja vu, United Real Estate Group (UREG) is looking to join the list of former defendants in a massive homebuyer commission lawsuit that continues to wage on. The real estate holdings company filed a motion in the U.S. District Court in Northern Illinois ...read more
Real estate agents aren't only the ones who help sell properties, they're often the ones who own and invest in them. In recent years, though, small investors are facing competition from Wall Street firms that buy single-family homes with speedy cash offers and remake...
Fathom Realty has announced the appointment of five new District Directors, each bringing experience, passion and dedication to their new roles. From Central Wisconsin to Montgomery, Alabama, Fathom stated that these leaders embody excellence and integrity, enriching company culture and guiding their teams toward...
Above, Anita Blue I love working in real estate! I love the people in it! And, as we celebrate Pride Month, even after the recent attacks on the LGBTQ+ community on NAR's Facebook and Instagram posts, I can honestly say your outpouring of support...
“I don't have to offer commission to a buyer agent—why should I?” This simple seller question—one that is likely to become more common every day—is a potential minefield. In the aftermath of the National Association of REALTORS®' (NAR) settlement agreement, which will mandate the removal of compensation from MLSs ...read more
Existing-home sales slightly declined in May as the median sales price climbed to a record high, according to the National Association of REALTORS®. The median existing-home price for all housing types in May was $419,300, the highest price ever recorded and an increase of...
Editor's Note: The Mortgage Mix is RISMedia's weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. -Guaranteed Rate is pushing back strongly against an expose published in the Chicago Tribune that claims the company cultivated a toxic workplace culture rife...
The National Association of REALTORS® (NAR) is once again facing accusations of sexual harassment, retaliation and workplace discrimination, with a lawsuit filed in federal court this week by a former employee alleging the organization fired her for reporting the incidents, and then failing to...
Above, Amy Lessinger Amy Lessinger, the pioneering president of RE/MAX, is hailed as a visionary within the real estate sphere. Lessinger's journey began over two decades ago when she entered RE/MAX at 26—rapidly progressing from agent to broker/owner of a flourishing brokerage boasting 135...
The Consumer Financial Protection Bureau (CFPB) has issued a proposed $3.95 million fine against Florida-based mortgage lender Freedom Mortgage. The CFPB previously sued Freedom Mortgage in October 2023 after the company was found to have submitted inaccurate mortgage data to federal regulators during 2020....
The Conference Board Leading Economic Index (LEI) for the U.S., which provides an early indication of significant turning points in the business cycle and where the economy is heading in the near term, decreased by 0.5% in May to 101.2, following a 0.6% decline...
Engel & Völkers has become the latest brokerage to settle class-action commission lawsuits by sellers, according to filings in federal court today, as the international luxury brand entered into a preliminary agreement with plaintiffs to end litigation claiming the company participated in a conspiracy...
Maintaining a condo involves regular care and timely repairs. This ensures a comfortable, safe living environment and preserves property value. I will provide the following guidance: Practical tips for regular condo maintenance Solutions for common condo maintenance issues A seasonal checklist to keep your...
The National Association of REALTORS® (NAR) and the CCIM Institute are co-hosting C5 + CCIM Global Summit–the nation's premier commercial real estate and economic development event–at the Seminole Hard Rock Hotel & Casino in Hollywood, Florida from September 17–19, 2024. Practitioners from virtually every segment of the commercial ecosystem–from ...read more
Listing properties is often seen as a real estate agent's most glamorous work, but buyers also need expert agents. If helping buyers find their perfect home is your specialty, use localized demographic data as your secret weapon to enhance your business. Let's explore four ways to utilize it. What ...read more
The 30-year fixed-rate mortgage dipped again for the third-straight week, averaging 6.87%, down from last week's average of 6.95%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday. This week's numbers: The 30-year FRM averaged 6.87% as of June 20, 2024, down from last ...read more
Construction of new U.S. homes fell 5.5% in May, dropping to the lowest level since 2020, according to data released June 20 by the Census Bureau and the Department of Housing and Urban Development (HUD). The pace of construction worsened as builders are dealing...
Above from left, Leo Pareja, Kendall Bonner and Holly Mabery “You need to proactively explain where the value you deliver is, because if someone thinks all you do is unlock a door, it's going to be a much, much harder conversation to have going...
Modern real estate requires modern innovation, specifically influencing. REALTORS® need to influence the market through content creation and strong client relationships. Jack Greenberg—a broker and salesperson with huntington & ellis and an RISMedia Newsmaker—has success influencing the market through both forming a successful team...
Inside Real Estate, an independent real estate software company and technology partner to leading real estate brands and approximately 500,000 real estate professionals, has announced a new product rebrand titled ‘BoldTrail,' an all-encompassing brand portfolio that unites its expansive collection of capabilities into one...
Inside Real Estate, an independent real estate software company and technology partner to leading real estate brands and approximately 500,000 real estate professionals, has announced a new product rebrand titled ‘BoldTrail,' an all-encompassing brand portfolio that unites its expansive collection of capabilities into one...
Accessing affluent buyers in the luxury real estate market requires a strategic approach that takes into account their preferences, behaviors and expectations. By implementing a combination of the strategies outlined below you can effectively access this desirable market segment in the luxury real estate...
With mortgage rates remaining high, little change in inflation and the Fed still not making any decisions when it comes to a rate cut, homebuilder confidence remains troubled as it hit its lowest reading since December 2023, according to the latest National Association of...
In a potentially precedent-setting move, a federal judge recently dismissed an MLS that is not affiliated with the National Association of REALTORS® (NAR) from a class-action commission lawsuit, finding that certain rules involving offers of compensation are not as “unilateral” as alleged by plaintiffs....
The words from CoStar CEO Andy Florance were delivered almost as an afterthought that day in February 2023 at the end of an upbeat but otherwise boilerplate quarterly earnings report. “While we typically do not comment on potential acquisition opportunities, we are confirming here...
REsides MLS has announced it chose not to opt in to the NAR settlement. Instead, the MLS has stated it will implement its own changes, beginning in late August. This decision is part of REsides' ongoing commitment to being a strategic partner for brokers...
A woman suing mega-brokerage eXp and several high-profile recruiters just added a cascade of new accusations and allegations to her lawsuit, claiming that the company and its founder, Glenn Sanford, ignored extensive reporting on sexual assaults committed by two eXp agents—Michael Bjorkman and David...
Mortgage applications continued their upward trend and increased 0.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Applications Survey for the week ending June 14, 2024. This week's data: The Market Composite Index, a measure of mortgage loan...
After weathering more than a year of turmoil and controversy at the National Association of REALTORS® (NAR), Katie Johnson is set to address an elite group of residential real estate thought leaders during RISMedia's 36th Annual CEO & Leadership Exchange in Washington, D.C., this...
The U.S. Department of Justice (DOJ) argued to an appeals court yesterday that last month's petition by the National Association of REALTORS® (NAR) for a rehearing of the agency's bid to reopen its investigation into the association is “not warranted.” Filed on May 20...
This week, as I settled into the familiar comforts of my home office, I began Monday with my usual WIG calls. In anticipation of the week ahead, I spent Sunday afternoon clearing my email inbox, which naturally led me to reflect and write in...
Above, Gary Ashton This year marks an important milestone for Real Estate Webmasters (REW) and Gary Ashton, CEO and owner of the Ashton Real Estate Group at Nashville's RE/MAX Advantage. The collaboration extends over two decades, showcasing a legacy of innovation and excellence in...
The Hudson Gateway Association of REALTORS® (HGAR)—along with six other REALTOR® Associations—recently held their third annual Diversity, Equity & Inclusion (DEI) Summit at the Newark Liberty International Airport Marriott in Newark, New Jersey. HGAR stated that they teamed up with the National Association of...
Century 21 Real Estate LLC is expanding its presence in Western Montana with its latest affiliation of female-owned Peak Property Advisors based in Missoula. The full-service boutique brokerage is owned and operated by Julie Anton, a 12-year real estate veteran who founded the firm in 2021, according to a ...read more
Depending on one's perspective on heat, political preference and classic Southern hospitality, the Sun Belt states can be dream destinations, although they hold some of the highest housing premiums in the entire country. Looking at the most overvalued measured markets, 17 out of 20...
SmartMLS, Connecticut's statewide Multiple Listing Service for residential real estate, announced on June 18 that it has filed paperwork opting in to the terms of the national settlement in the Burnett vs. the National Association of REALTORS® (NAR) lawsuit. NAR had days earlier reminded brokerages with a residential ...read more
Editor's note: This story is the first part of a two-part RISMedia report on the effects of institutional homebuyers on markets and housing. Look for part two in the coming days. For many, real estate isn't just a home, it's an investment—especially when that buyer is a large financial ...read more
The buyer commission field is here to stay for areas in the Northwest under the purview of the NWMLS (Northwest Multiple Listing Service). A non-affiliate of the National Association of REALTORS® (NAR), NWMLS does business independently, owned instead by its member real estate firms, and is therefore able ...read more
Above, from left, Lee Owen, Demelza Lisowski and Lehanna Amos Agents Demelza Lisowski, Lee Owen, and Lehanna Amos were friends, co-workers, and sociable rivals at Corcoran Reverie Real Estate, in the strip of beach towns known locally as 30-A, when they decided last fall...
Selling a home involves more than just listing it on the market. Strategic repairs and improvements can significantly increase your home's value and appeal to potential buyers. It's all part of preparing to sell. I will provide detailed guidance on minor cosmetic fixes, major...
PropStream has added demographics, a new localized insights dataset made available through its partnership with Local Logic. All real estate pros using the PropStream platform can determine location value drivers quickly and accurately, aiding in property comparisons, valuations and investment potential. The company stated...
Zillow and two MLSs appear to have reached a settlement agreement in an antitrust lawsuit over its ShowingTime software, in which the portal giant alleged a the MLSs conspired to use “monopoly power” to undermine its product in favor of a new service they...
Editor's note: The COURT REPORT is RISMedia's weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. As the summer heats up and real estate markets cool down, the pace and intensity of court drama affecting the industry appears...
The home-buying process is complex, but for individuals in underrepresented communities, the hurdles can be even more daunting. To help makes things simpler for many people, Realtor.com® is extending the reach of its buyer representation campaign with the launch of a new initiative promoting...
REsides has announced the launch of REsides University—a platform designed to transform how real estate professionals learn, grow and excel in their careers. This educational hub consolidates all training classes into one location, offering a comprehensive and dynamic approach to real estate education. In...
Anthony Djon Founder and CEO Anthony Djon Luxury Real Estate Troy, Michigan https://www.anthonydjon.com Region served: Birmingham and adjacent Michigan metro area Years in real estate: 24 Number of offices: 1 Number of agents: 30 Please describe how Realtor.com®'s support for buyer's agents has impacted your ability to ...read more
Downtowns from coast to coast are still recovering from unprecedented change as a result of the COVID pandemic, and home prices have varied since then as a result. Now, data provided by PropertyShark indicates that the downtowns of the Northeast's most populous cities remain notably more expensive than areas ...read more
This summer, the real estate industry is set to experience a great shift when it comes to commissions and the job of a buyer's agent, thanks to the National Association of REALTORS®' (NAR) settlement and others in the commission lawsuits across the industry. These...
Above, Bermuda's Westcoast Topsail is listed for $2,950,000 From the appeal of year-round coastal living to the desire to lead a laid-back yet upscale lifestyle, destinations in tropical locales are becoming increasingly popular for homebuyers across the globe. This month, we take a look...
Weichert, REALTORS® will host its 24th Annual Charity Outing on Thursday, Aug. 15, at Fiddler's Elbow Country Club in Bedminster, NJ to raise funds for the American Cancer Society (ACS) and breast cancer research. The event will be coordinated by Chairperson Joe McDonald, president...
Above, Darryl Davis, Andrew Flachner and Liz Hogan Keeping pace with technology can give any professional an edge, real estate agents included. Right now, the new shiny tech on everyone's mind is machine learning/generative text—colloquially, artificial intelligence (AI). But with all the focus on...
PropStream has announced a strategic partnership with Carrot, the premier website builder for real estate professionals. PropStream stated it will now offer its data services to Carrot users, enhancing lead credibility and enabling users to perform more research on leads as they come through on the Carrot website. In ...read more
Homeowners' Association (HOA) disputes are common in community living. Resolving them efficiently is crucial for maintaining harmony. I will provide advice and tips on the following: Definitions of common HOA disputes and resolution processes Step-by-step guides on internal dispute resolution procedures Information on alternative...
Above, sides rally in front of NYC City Hall Wednesday. Photo by Jack Walsh. NEW YORK CITY—Hundreds descended on City Hall in Manhattan Wednesday morning to protest or support a rental fee change currently being considered by the New York City Council that would...
Douglas Elliman is the latest big brokerage, joining Howard Hanna and HomeServices of America, in being voluntarily dismissed without prejudice from the Illinois-based Batton homebuyer commission lawsuits. Homebuyers claimed to have suffered antitrust injury due to a conspiracy between the National Association of REALTORS®...
On the heels of the Fed standing firm on keeping its benchmark rate unchanged, mortgage rates trickled down again this week, with the 30-year-fixed rate mortgage averaging 6.95%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac released Thursday. The move...
In today's unprecedented times for residential real estate, leadership matters more than ever. Real estate leaders will share new strategies for leading in turbulent times in a special session at RISMedia's CEO & Leadership Exchange being held Sept. 4-6 at the Mayflower Hotel in...
In a move designed to help military service members, veterans and eligible spouses stay competitive in the current housing market, the Department of Veterans Affairs (VA) announced Tuesday that it will temporarily allow VA borrowers to pay their own buyer agent fees in certain...
Christina Bennett loved the mortgage industry, but after undergoing multiple layoffs, she says the feeling wasn't mutual. Bennett spent years in and out of mortgage roles in various underwriting posts, rising to the management ranks in her last company, Caliber Home Loans, where she...
Mortgage applications shifted course and increased 15.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Applications Survey for the week ending June 7, 2024. This week's data: The Market Composite Index, a measure of mortgage loan application volume,...
The Consumer Price Index (CPI), an inflation gauge measuring goods and services costs across the U.S. economy, was unchanged in May on a seasonally adjusted basis, after rising 0.3% in April, the U.S. Bureau of Labor Statistics reported June 12. After hitting a 40-year high of 9.1% in June ...read more
ERA Real Estate announced today its latest affiliation with Empire Real Estate Group, a staple of residential Rhode Island real estate. Broker/owner Jimmy Ranieri first founded the firm 13 years ago. Now as part of the ERA® network, Ranieri stated that he and his full-service company's affiliated agents will ...read more
The REALTORS® Relief Foundation (RRF) has announced that an additional $1 million in disaster relief aid has been made available to Arkansas REALTORS® in response to the devastating tornadoes that impacted the state in late May. RRF stated that this grant is in addition to the $1 million already ...read more
Client loyalty is the cornerstone of a successful business, especially in the real estate industry. It's the key to retaining clients over several years between transactions, and it presents the greatest opportunity for long-term growth. Moreover, the right client loyalty solutions can even lead...
After taking home the top Rookie of the Year honors at RISMedia's annual Power Broker event last November, Stacy Cole hasn't let it go to her head. In fact, she says it's the little everyday activities that combined with hard work and proper life...
Above, John Clidy, Wendi Harrelson, Mark Willis and Jason Abrams The National Association of REALTORS® (NAR) has, as part of a settlement in class-action lawsuits centering on buyer-broker commission structures, agreed to rule changes that take effect this coming August. On Monday, June 10,...
Editor's Note: Social Skills is a bi-monthly feature in RISMedia's Daily News focused on social media and digital marketing tips, trends and solutions for agents and brokers. Across the real estate industry, notable agents, brokers and firms often have a compelling presence on social...
A majority of homebuyers aren't shopping around for a mortgage, according to new data from LendingTree. Specifically, 54% of buyers who took out a mortgage for their most recent home purchase received just one offer from one lender, 22% got two offers and 17%...
Online real estate brokerage Flyhomes has acquired assets from the real estate AI startup ZeroDown to launch Flyhomes AI, described as “the industry's first purpose-built AI home search portal.” ZeroDown is among the many firms invested in by AI guru Sam Altman, who stated...
A new working paper produced by Joseph Gyourko and Fernando Ferreira—two researchers at The Wharton School of Business at the University of Pennsylvania—shows that supply of housing from city to city is not dependent on the political party in power, at least at the...
For those who missed our previous deadline, RISMedia's third-annual 2024 Real Estate Rookie of the Year contest is open to accepting nominations for one last day! The nomination page will close tonight, June 12, at 11:59 p.m. Nominations may be submitted here. RISMedia's Rookie of the Year program, sponsored ...read more
MLS PIN, the Massachusetts-based listing service that has become a focal point of the Department of Justice's (DOJ) interest in real estate commission practices, yesterday filed its long-awaited response to antitrust regulators as it urged a federal judge to reject DOJ arguments that “fail...
As previously reported by RISMedia, fraudulent listing sites are often what third party real estate outfits choose to create when attempting to lure in vulnerable victims for profit. Sites often seem fully operational and can trick any real estate professional at first glance. However,...
Championing diversity isn't just about speaking up for equity, equality and inclusion—it's also about listening, giving a platform to transformative leaders and supporting messages that drive us toward a more inclusive future. Pride Month not only celebrates the LGBTQ+ community but also elevates awareness...
Marketing a condo with a special assessment requires strategic planning and clear communication. Special assessments can often deter potential buyers who might be concerned about the added costs. However, with the right approach, you can attract interested buyers by focusing on your property's unique...
Above, Julia Archuletta, fifth from left and Dave Archuletta, sixth from left, with their real estate team in Mission Viejo, California. For Dave and Julia Archuletta, creating a thriving real estate team while raising five children in the historic nature reserve of Rancho Mission...
Editor's note: The COURT REPORT is RISMedia's weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Settlements still play a significant role in the landscape of real estate, whether that be the impact of the National Association of...
Between the critics who have promulgated accusations of real estate price-fixing and conspiracy, and the brokers who have long championed industry ethics and practices, there has been little room for agreement. But at least one thing appears to unite these two groups, according to...
Rising closing costs are adding to homebuyers' affordability woes, putting their dream of homeownership even further out of reach. In an attempt to combat this, the Consumer Financial Protection Bureau (CFPB) is taking aim at so-called mortgage “junk fees” that are often tacked onto...
If you haven't already nominated a 2024 Rookie of the Year, you have just two days left! The nomination page will close this Wednesday, June 12 at 11:59 p.m. Nominations may be submitted here. RISMedia's third-annual Rookie of the Year program, sponsored by industry education leader, Colibri Real Estate, ...read more
Leading Real Estate Companies of the World® has announced the inclusion of RealScout to its Solutions Group program of preferred business resources for its global network of 550 market-leading real estate firms. LeadingRE stated that RealScout streamlines the process of keeping buyers and sellers informed with relevant market updates, ...read more
If you had told me four years ago that I would be teaching Probate to REALTORS®, I wouldn't have believed you. Now, the Certified Probate Specialist Certification course, created by myself and Gee Dunsten, associate broker, speaker and president of Gee Dunsten Seminars, is...
Editor's Note: The Mortgage Mix is RISMedia's weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. As reported by Freddie Mac, mortgage rates have “pulled back.” After being above 7% the final week of May, the first week of June...
Joe Ventrone, former National Association of REALTORS® Vice President of Federal Policy and Industry Relations, received the Carl A.S. Coan, Sr., Lifetime Achievement Award for Public Service at the National Housing Conference's annual Housing Visionary Awards Gala on June 5. The event honored individuals...
In CoreLogic's latest Homeowner Equity Report for the first quarter of 2024 released June 6, U.S. homeowners with mortgages (which account for roughly 62% of all properties) saw home equity increase by 9.6% year-over-year, representing a collective gain of $1.5 trillion and an average...
Above, Eric Gallus and Jillian Young When one of the industry's most successful regional brokerages joins forces with one of the biggest and most forward-thinking national real estate networks, it's the purest definition of win-win. And that is precisely what occurred with the recent...
The U.S. added 272,000 jobs to the market in May, higher than the average monthly gain of 232,000 over the prior 12 months, according to the latest data from the Bureau of Labor Statistics. The unemployment rate saw little change at 4% as well as the number of unemployed ...read more
While understanding the overall market outlook is critical for success, real estate remains a local business. Brokers representing different parts of the nation will come together to discuss how national trends and industry-wide challenges are shaking out in their respective markets, and share their...
The National Association of REALTORS® stated that its post-settlement practice changes “eliminate steering,” according to a recent update on the organization's settlement FAQ page that addresses steering concerns. Steering concerns have been present in conversation since the commission lawsuits across the industry began. The...
Are you wondering how to set an accurate price for a home in rough shape? Selling a house in poor condition presents unique challenges, primarily in setting a price that reflects its current state and potential market value. I will provide tips for effective...
Are you wondering how to set an accurate price for a home in rough shape? Selling a house in poor condition presents unique challenges, primarily in setting a price that reflects its current state and potential market value. I will provide tips for effective...
The National Association of REALTORS® (NAR) had several major wins recently in the U.S. Supreme Court, advancing and protecting property rights around the country. Legal challenges in support of property rights are an important tool in public policy and advocacy, with decisions that have...
Recently an op-ed was published entitled “How We Got Here,” and it was so one-sided I felt compelled to respond. If there is one lesson that should be learned about the real estate industry right now, it should be that we need to consider outside opinions. Now is not ...read more
Anywhere Chief People Officer Tanya Reu-Narvaez Initially launched in 2019, Anywhere Real Estate concluded its latest “Week of Understanding” late last month, an event meant to embrace inclusivity in the realm of homebuying and selling across the industry and aiming to build a healthy...
Mortgage rates pulled back again after creeping up over 7% last week, ticking down to just under, averaging 6.99% this week, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday. This week's numbers: The 30-year FRM averaged 6.99% as of June 6, 2024, ...read more
Better Homes and Gardens Real Estate Ben Bray & Associates—located in Lafayette, Tennessee—is the latest firm to join the lifestyle real estate brand. The company has served Northern Middle Tennessee and South Central Kentucky for over 25 years from its original office located in...
While reflecting on the Memorial Day holiday, a time for remembrance and reverence, I am compelled to share a story that deeply moved me. It's a tale that isn't mine but one that resonates with the themes of leadership and sacrifice. Recently, I revisited...
Of course you would like seller clients to have their homes professionally staged if you think it needs it. But sometimes homeowners will not want to spend the money or agree to make drastic changes to rooms, especially if they are living there. Creative...
Editor's Note: The Buyer-Agent Playbook is a new iteration of RISMedia's biweekly Playbook segment, specifically centering on buyer agency and how agents are navigating the changes and trends in a post-NAR-settlement environment. The series will provide brokers and agents with insights and information to...
Nationwide, 6.4% of homesellers cut their asking price during the four weeks ending May 26 on average, the highest share since November 2022, according to a new report from Redfin. The median asking price dropped roughly $3,000 to $416,623 in the last week, the...
Above, Rhonda Chambal Rhonda Chambal President Irongate Inc. REALTORS® – A member of Leading Real Estate Companies of the World® Dayton, Ohio http://www.irongaterealtors.com/ Region served: Dayton metro area Years in real estate: 15 Number of agents: 300 Number of offices: 6 Favorite part of your job: Being able to ...read more
In the wake of internal controversy, a media onslaught and ongoing litigation, the National Association of REALTORS has been steeped in turmoil, opening the door to competing organizations and demands for change. Real estate leaders will weigh in on the future of the association...
Mortgage applications continued their downward trend from last week, decreasing 5.2% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 31, 2024. This week's results include an adjustment for the Memorial...
Plaintiffs in the long-running mega-buyer commission cases are appealing the final approval of multiple settlement agreements in seller-side cases, after a judge ruled that those agreements would exclude many people who both bought and sold homes from pursuing their separate claims against big brokerages....
In May, median list prices showed an increase of 37.5% since May 2019, with inventory down 34.2% compared to typical levels between 2017 – 2019, according to a new realtor.com® housing report, with economists saying this indicates the market remains tilted toward sellers (and...
Corcoran Reverie has announced that Michael Bonaguro—a mortgage industry veteran and musician—has joined Corcoran Reverie's Nashville brokerage as a new agent. With a 20-year career in the mortgage industry as the owner of 1st Choice Mortgage Solutions in Franklin, Tennessee, Bonaguro brings experience and...
RE/MAX Chief Operating Officer and Chief of Staff Serene Smith resigned Monday, according to a company filing with federal regulators. She had been with the company since 2006, starting as senior manager of internal audit and progressing up to COO. She will continue with...
Editor's Note: Social Skills is a bi-monthly feature in RISMedia's Daily News focused on social media and digital marketing tips, trends and solutions for agents and brokers. Summer is here, and it's well known for its housing market boom that will bring everyone some...
Editor's Note: Social Skills is a bi-monthly feature in RISMedia's Daily News focused on social media and digital marketing tips, trends and solutions for agents and brokers. Summer is here, and it's well known for its housing market boom that will bring everyone some...
Above, Shawn Guzman Century 21 Real Estate LLC has announced its latest affiliation, growing its presence in Northern Alabama with a veteran-led group of real estate professionals based in Huntsville, now doing business as CENTURY 21 Home Team. According to a release, the start-up company is spearheaded by Shawn ...read more
The commercial real estate industry is in a downturn and could wind up dragging down the financial sector with it, according to a new report from Florida Atlantic University (FAU). The root of the issue is the COVID-19 pandemic. Due to the transition to...
If you almost missed the Wednesday deadline to submit a candidate for TISMedia's 2024 Rookie of the Year, don't fret! We have extended the deadline to get your nominations in! Nominations may be submitted here. Deadline extended to 11:59 p.m. on Wednesday, June 12....
United® Real Estate has announced a merger between Stryve Realty, based in Fort Worth, and United Real Estate | DFW Properties, based in Grapevine, solidifying its foothold in North Texas. The combined operations include two offices in Fort Worth and one in Grapevine under...
Hollywood is responsible for how a lot of professions are perceived by the general public. Both propagating stereotypes and creating new tropes, movies and television shows wield a tremendous amount of power in terms of how police officers, doctors, teachers, lawyers, scientists and politicians...
MoxiWorks has announced the appointment of Eric Elfman, an experienced executive with a track record of accelerating product and go-to-market strategy, as the company's new Chief Executive Officer (CEO) and member of the Board of Directors. Current CEO York Baur will remain on the Board of Directors helping to ...read more
Stellar MLS recently hosted “Elevate,” an innovative real estate event featuring tech solutions and other strategies for advancing the real estate industry. More than 150 agents, brokers and other industry professionals from Volusia, Flagler, Orange and Osceola counties, and surrounding areas attended the May...
Members of the executive team of Stellar MLS, the largest multiple listing service in Florida and Puerto Rico, will join more than 1,500 colleagues in Germany to network and share best practices for leveraging the power of the multiple listing service and using innovative...
Buying a home involves multiple steps, including providing an earnest money deposit. This deposit is a sign of good faith between the buyer and seller. It indicates the buyer's commitment to purchasing the property. However, losing this deposit can be a significant financial setback....
Above, Laura Roman Six years ago, I left the corporate world to join my husband in the real estate industry. With a background in human resources, operations management, commercial insurance and customer service, I brought a well-rounded perspective to better serve our clients. Our...
Above, Ryan Platzke Growing up in Michigan, Ryan Platzke took an interest in a neighbor's real estate and insurance business—so much so that he majored in Real Estate Sales and Marketing at Ferris State University. An invitation by his uncle took him to Minnesota,...
Editor's note: The COURT REPORT is RISMedia's weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Settlements from large brokerages have continued to cause ripples as copycat lawsuits of Burnett and other commission lawsuits persist. While some pending...
The deadline to submit nominations for RISMedia's 2024 Rookie of the Year is quickly approaching. Nominations may be submitted here. Deadline ends 11:59 p.m. on Wednesday, June 5. RISMedia's Rookie of the Year program, sponsored by industry education leader, Colibri Real Estate, is designed to honor real estate agents ...read more
The June issue of RISMedia's Real Estate magazine is now available, and not to be missed are several exclusive features, including an in-depth look at Jason Mitchell Group's brokerage model and how its difference from the industry standard has bred success. In addition, we...
ATTOM's latest second quarter 2024 Vacant Property and Zombie Foreclosure Report showed that there are nearly 1.3 million vacant residential properties in the U.S—the same as the first quarter of 2024. The report also indicated that 237,208 residential properties nationwide are in the process...
Above, Jason Mitchell Forget the traditional real estate agent model. The Jason Mitchell Group has built a different kind of brokerage with strategic referral partnerships at its center. In the process, JMG is scaling its growth, redefining the agent-client relationship and showing why its...
Two of the nation's fast growing REALTOR® associations announced that their members voted and approved a unification that forms the third largest local REALTOR® association in Florida, and the sixth largest association in the nation. The Pinellas REALTOR® Organization (PRO/CPRO) and Greater Tampa REALTORS®...
Editor's Note: The Mortgage Mix is RISMedia's weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. –Mortgage rates ticked back up above 7% after weeks of declines, according to the latest data from Freddie Mac. The 30-year fixed-rate mortgage (FRM)...
When two competing corporations face off aggressively and publicly, it can often make for great theater, which is what's happening in the residential real estate realm. Realtor.com® and Homes.com have taken to launching broadsides at each other as the two portal giants battle for...
The personal consumption expenditures (PCE) price index increased 0.3% in April, the Commerce Department reported on May 31, matching a similar gain in March. It's not a wholly positive sign for those hoping that the U.S. central bank will cut interest rates soon, as...
It's no question that affordability is stratified, and as such, housing markets tend to differentiate from state to state. According to a recent analysis by Clever Real Estate, the median household can only afford the typical home in four states: West Virginia, Ohio, Iowa...
While finding buyers and sellers who are ready to get off the sideline is the ultimate goal for real estate professionals who are looking to keep their pipeline full, there's no shortage of strategies that can be employed to generate new revenue and grow...
Beyond the policy changes required by the NAR settlement, Bright MLS has announced a set of system changes to ease subscriber use to help them navigate through the upcoming new normal. Similar to CRMLS' newly announced system field changes referring to Concessions in Price,...
It's hard not to sympathize with the current plight of homebuyers—particularly the younger generation attempting to break into the market. Along with broader systemic pressures like stagnating wages and crippling student loan debt, young people trying to enter the housing market are facing stiff...
After three weeks of declines and a dip below 7%, the 30-year fixed rate mortgage average ticked back up this week to 7.03%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday. This week's numbers: The 30-year FRM averaged...
According to the National Association of REALTORS®' (NAR) latest report, pending home sales fell 7.7% in April. All four U.S. regions posted month-over-month and year-over-year decreases, and pending contract transactions were also down 7.4%. “The impact of escalating interest rates throughout April dampened homebuying,...
Above, Jason Haber Late last year, when the National Association of REALTORS® (NAR) found itself having to deal with all kinds of negative leadership issues and odd occurrences, and then, of course, the Burnett trial, two prominent real estate professionals, Jason Haber and Mauricio...
In the high-stakes world of real estate—where clarity, courage and stamina are indispensable—sleep is not merely a pause from our busy schedules but a vital investment in our health and professional prowess. Vince Lombardi's words, “Fatigue makes cowards of us all,” resonate deeply here....
In Nashville's bustling real estate scene, Kayla Palmer—a REALTOR® at MW Real Estate Co.—emerges as a steadfast advocate for her clients. Originating from Mississippi, she's woven herself into Nashville's fabric over the last five years, leveraging her background in people management and process improvement....
JPAR® announced a new addition to its affiliate network: Raintown Realty, a real estate brokerage based in Bellevue, Washington. The firm brings a wealth of expertise and a strong commitment to excellence in serving clients across King, Pierce, and Snohomish counties. Under the leadership of Robert Ott, CRGO, designated ...read more
It's not a buyer's market in residential real estate right now—and many buyers are dropping out in the face of unfavorable market conditions. Bright MLS (covering the mid-Atlantic) has published its latest member survey results for May 2024. The survey surmises consumer behavior from agent/broker responses, and the results ...read more
California Regional MLS (CRMLS), the country's largest MLS—home to over 110,000 members—is launching a new set of MLS system fields referring to Concessions in Price (CiP) today. The fields promise to enhance communication between listing and buyer agents, as well as homebuyers, by providing...
eXp Founder and CEO Glenn Sanford and his company have been dropped—at least temporarily—from one of two pending lawsuits that claim the company and top executives were complicit in an alleged drugging and sexual assault committed by two top recruiters. Judge Andre Birotte, in...
Century 21 Scheetz—a top 5 company in the national Century 21 system and the brand's number one company in Indiana—welcomes Adam Bauer as the brokerage's new vice president of Marketing. With over a decade of strategic marketing expertise, Bauer brings his industry knowledge to...
Forbes Global Properties held its second annual European Regional Meeting at Portugal's exclusive Quinta do Lago Resort. Chair Matt Beall and Board Directors Quentin Epiney and José Ribes Bas welcomed broker owners and management associates from 21 countries and regions for two lively days...
Dermot Buffini, CEO of renown real estate coaching firm, Buffini & Company, will deliver a powerful opening keynote address, “Leading Above the Line to Grow Your Bottom Line,” when he kicks off RISMedia's 36th Annual CEO & Leadership Exchange, taking place Sept. 4-6 at...
With many Burnett copycat suits resolved or on a path to resolution due to a settlement agreement struck by the National Association of REALTORS® (NAR), one class-action lawsuit appears to be on a different, more contentious path. The unique New York City real estate...
As rates jumped back up above 7% last week, mortgage applications decreased 5.7%% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 24, 2024. This week's data: The Market Composite Index,...
Equity Angels—a social impact organization dedicated to fostering fair access to innovation and opportunity—has named its 2024 cohort for its first-ever accelerator program. Upfront provides innovative financial solutions for agents and brokers, The Studio Home leverages Web3 visualization for curated home furnishings, Maverick Systems...
Do you know a new agent who is achieving extraordinary results in their rookie year? RISMedia's third-annual 2024 Real Estate Rookie of the Year contest is accepting nominations, and now is your chance to recognize a real estate rookie! Nominations may be submitted here. Deadline ends 11:59 p.m. on ...read more
Longtime Homes.com President David Mele has officially parted ways with CoStar Group. Mele had previously hinted at an upcoming career move in recent conversations with RISMedia, indicating that he would be taking some time off before pursuing his next role. He reported to real...
The 22nd anniversary of my real estate license passed a few weeks ago. Ooh Rah! (Sorry. My military is showing.) While I have had a license for that many years, I have been involved in real estate since 1988. That's when I purchased my...
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 6.5% annual gain for March, the same increase as the previous month. The 10-City Composite saw an increase of 8.2%, up from an 8.1% increase in...
Editor's note: The COURT REPORT is RISMedia's weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. This week saw previously decided matters on the legal side of the real estate world revived, with the National Association of REALTORS®...
National Association of Home Builders (NAHB) and Wells Fargo have released a new quarterly Cost of Housing Index that underscores the housing affordability crisis in America. The report revealed that in Q1 2024, 38% of a typical family's income was needed to make a...
Consumers are experiencing conflicting feelings about the economy as differing reports come in from The Conference Board and University of Michigan, with a more positive assessment of the current business climate clashing with renewed worries about inflation. Consumers' confidence reversed course and saw an...