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Do Open Houses Sell Homes?

July 12, 2019
The conventional wisdom in real estate holds that an open house is a nearly useless marketing tool, at least when it comes to moving the property that’s being shown. But a new report from Redfin might poke holes in that long-held assumption, or at least add some regional nuance. The Seattle-based brokerage analyzed nationwide transactions…To read more — login/sign up

 

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New Discount Brokerage Model Offers Guarantee Against Low Appraisals, Surprise Repairs

June 27, 2019
When entrepreneur Luke Johnson put his home on the market a few years ago, buyer interest was strong. Within a couple of hours, Johnson had four offers in hand, all from creditworthy buyers. Then came a nasty surprise: The appraiser valued the house at $35,000 less than the offer Johnson had accepted. The property was…To read more — login/sign up

 

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July 2019

Lawsuit claims “conspiracy” keeps commissions artificially high —  A Minnesota company has filed two lawsuits accusing the real estate industry’s biggest players of illegally conspiring to maintain high fees for buyers’ agents. Read the federal complaint against the National Association of Realtors, Realogy, HomeServices of America, RE/MAX, and Keller Williams....

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Lawsuits Illustrate New Legal Risks from Marketing by Text Message

June 13, 2019
Realogy Corp. and two brokerages in Florida are defending themselves against potentially costly allegations that, in the course of marketing homes, their agents sent text messages in a manner that broke federal law. The Telephone Consumer Protection Act (TCPA) prohibits sending text messages using auto dialers without first getting consumer consent and giving the consumer…To read more — login/sign up

 

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Identifying the Traits of Top Agents

May 30, 2019
For brokers hiring salespeople, figuring out who’s going to be a productive agent is a constant challenge. Hiring is a blend of art and science that vexes even the savviest recruiters. Jess Biller, president of Paramount Consulting Group, has gained industry-wide attention recently for an intriguing bit of research that he conducted into the personalities…To read more — login/sign up

 

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June 2019

Opendoor says it will work more closely with agents —  See Opendoor Chief Executive Eric Wu describe his company’s relationship with agents below. ...

Lawsuits illustrate new legal risks from marketing by text message —  Realogy Corp. and two brokerages in Florida are defending themselves against allegations of violations of the Telephone Consumer Protection Act. The suits accuse the real estate companies of sending multiple unwanted text messages via an “automated telephone dialing system.” Read a  suit filed against a real estate broker. ...

Hispanic population growth fuels housing —  Hispanics are the driving force behind U.S. population growth and homeownership, according to the National Association of Hispanic Real Estate Professionals. Read the 2018 State of Hispanic Homeownership report....

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Millennials Become More Active Buyers

May 16, 2019
Home purchases by millennials ticked up in 2018, but tight inventories and rising prices put the brakes on their buying activity. According to NAR’s Home Buyer and Seller Generational Trends 2018 study, 36 percent of all home purchases in 2018 were by millennials, up from 34 percent in 2017. Other notable generational trends from the report include:…To read more — login/sign up

 

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Another Threat: Zero Commission Listings

May 2, 2019
For decades, traditional brokers have lamented — and adapted to — downward pressure on commissions. The 1 percent that Redfin charges sellers in high-priced cities seemed to mark a nadir, but now discounted fees are falling even lower: Two startups aim to further tighten the squeeze by charging sellers nothing. In California and Texas, Top…To read more — login/sign up

 

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Broker Pays Veteran Agents to Act as Mentors to Rookies

April 18, 2019
Like many brokers, Exit Realty franchisee Victor DeFrisco grew frustrated by the high turnover rate for new agents at his company. Even with company-offered training and mentoring, his 120-agent brokerage in Lake Worth, FL, saw new agents washing out of the business at a frustratingly high rate. To address that common problem, DeFrisco decided to…To read more — login/sign up

 

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