Industry Leaders Discuss AI at NAR Summit
At the 2024 REALTORS® Legislative Meetings on Tuesday, May 7, 2024, the “Emerging Business Issues and Technology Forum,” featured a panel of experts exploring how AI and augmented reality will shape the real estate industry. The panel was moderated by Julie Whitesell, chair of the Emerging Business Issues and Technology Forum and broker in charge…
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Facilitating Business in an Effective and Efficient Way
Above, Jeff Grebe Jeff Grebe Broker/Owner Weichert, REALTORS® – Advantage Plus Knoxville, Tennessee https://www.advantageplustn.com Region served: East Tennessee Years in real estate: 31 Number of offices: 2 Number of agents: 68 Favorite part of your job: Seeing agents succeed. What are some of the current trends you see in your market right now? We’re in…
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Fannie Mae Expands Income Calculator Tool
Fannie Mae has announced new enhancements to its Income Calculator tool that will help mortgage professionals serve the growing number of mortgage applicants who are self-employed and don’t have traditional sources of income. The new web interface provides an additional, free avenue to access Fannie Mae’s existing Income Calculator functionality, which the company introduced in…
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Report: The Best Time to Sell is in the First Half of the Year
While the market is still unsettled—especially in regards to the currently pending NAR settlement and the changes that will bring to the industry—home sales continue as always. However, sellers have lost a little bit of the upper hand in the market as of late when it comes to a housing market correction. For sellers looking…
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More Than 90% of Metro Areas Recorded Home Price Increases in Q1 2024
The National Association of REALTORS® (NAR) recently released data showing that nearly every metro area it tracks—93%—posted year-over-year price increases in the first quarter of 2024. The top 10 metro areas with the largest year-over-year median price increases, which can be influenced by the types of homes sold during the quarter, all registered gains of…
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President Biden Signs Law to Ban TikTok; App Parent Company Sues
On Wednesday, April 24, 2024, President Joe Biden signed a bill into law that’s been dubbed a “TikTok ban.” Specifically, the bill mandates that ByteDance, TikTok’s parent company, has nine months to sell it or the video social media app will cease operations in the United States. The bill, originally passed in the U.S. House…
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Mortgage Applications Up After Three Weeks of Downs
Mortgage applications increased 2.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 3, 2024. This week’s numbers: The Market Composite Index, a measure of mortgage loan application volume, increased 2.6% on a seasonally adjusted basis from one week earlier. On an…
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Redfin Q1 Revenue Rises, but Net Losses Up as Well From 2023; CEO Notes New Normal
One day after deciding to settle commission lawsuits with a proposed $9.25 million-dollar payout, Redfin, in a May 7 Q1 earning report, showed solid first quarter revenue of $225.5 million, an increase of 5% compared to the first quarter of 2023. Gross profit was $70.8 million, an increase of 22% year-over-year. Real estate services gross…
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Settlements Face 11th Hour Delay in Dispute Over Buyer Immunity
Plaintiffs in Batton, the largest commission-focused case filed by homebuyers, are seeking to delay approval of settlements that brokerages agreed to in cases filed by homesellers, according to a court filing today, claiming at least two companies are attempting to squeeze in immunity from buyer claims at the last minute. With the final approval hearing…
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Never Count Real Estate Agents Out
In the wake of recent headlines surrounding the National Association of REALTORS®’ lawsuit settlement and the Department of Justice’s renewed interest in investigating commission practices, skepticism regarding the value of real estate professionals has surfaced across the nation. Yet, amidst the noise, it would be foolish to overlook the enduring significance of the role you…
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