IndustryZillow rolls out 1% down home loan programThe company said the new program, initially launching in Phoenix, will help ease one of the biggest barriers to entry for buying a home.AJ LaTraceAugust 24, 2023
By the NumbersMortgage rates surge to new heightsFor the fifth straight week, 30-year mortgage rates went up, hitting 7.23% — the highest level since 2001.Dave GallagherAugust 24, 2023
By the NumbersNew home sales still hot, but will fall bring a chill?New construction got another boost in July, with sales up 31.5% year-over-year. Rising mortgage rates may reverse that trend. Dave GallagherAugust 23, 2023
AgentsMaui broker: Hanging up on vultures, holding on to hopeChris Speicher feels "numb" in the wake of devastating wildfires but is committed to helping the community rebuild — in the right way.Nicole BrodeurAugust 23, 2023
MLS/AssnMLSs are coming back online after 2 weeks in the darkRapattoni is gradually restoring service following a cyberattack that shut down the MLS service provider on Aug. 9.Dave GallagherAugust 22, 2023
BrokeragesKW to slash profit sharing for former agentsStarting next July, former KW agents who compete against the company will see their profit share distribution reduced from 100% to 5%. Dave GallagherAugust 22, 2023
By the NumbersExisting home sales fall again — except in the WestNAR reported a 2.2% national decline in sales in July, but the West bucked the trend, and more first-time buyers entered the market.AJ LaTraceAugust 22, 2023
By the NumbersA wave of housing forecast updates point the same way: upResearchers from Zillow, Freddie Mac, and Goldman Sachs all issued revised, rising 2023 home value and price forecasts in the past week.AJ LaTraceAugust 22, 2023
BrokeragesRE/MAX to reduce workforce by 7%In an SEC filing, the company said the layoffs are part of a reorganization that will “yield cost savings in the long term.”Dave GallagherAugust 21, 2023
By the NumbersNew homes shrink as costs of buying growThe median square footage for a home under construction — now 2,191 — has hit its lowest point since 2010.Dave GallagherAugust 21, 2023
IndustryWhy brokerages should care about the FTC Safeguards RuleAn update to FTC rules could impact a broad range of real estate professionals — with stiff fines for noncompliance.Robert SicilianoAugust 21, 2023
BrokeragesBrokers in Focus: 'We want fewer agents who do more business'Red Oak Realty CEO Vanessa Bergmark has clear goals for growth — and for finding and keeping great agents, no matter the market. Melissa KandelAugust 20, 2023
MLS/AssneXp agents facing 'catastrophic' Rapattoni outage get Northstar fixMore than 4,000 eXp Realty agents in 12 markets will be helped by NorthstarMLS, which has offered to assist other major companies as well.Dave GallagherAugust 19, 2023
BrokeragesBrokerage Beat: News from C21, Realty ONE, Pinnacle, Christie'sCentury 21 gains Arkansas firm, names new CEO in Chicagoland; Realty ONE enters Belize; Texas mega-team joins Pinnacle; Ansley Christie's nabs top E&V agent.Real Estate News StaffAugust 19, 2023
IndustryMortgage company, brokerage fined nearly $2 million for 'kickbacks'The Consumer Financial Protection Bureau fined Freedom Mortgage $1.75 million and Realty Connect $200,000 for providing illegal incentives for loan referrals.Dave GallagherAugust 18, 2023
TechFormer Zillow CEO unveils AI-powered lead-gen assistantSerial entrepreneur Spencer Rascoff predicts real estate agents will be “one of the biggest verticals” that will use HeyLibby to turn contacts into customers. AJ LaTraceAugust 18, 2023
IndustryJudge rebuffs Chinese homebuyers’ push against Florida lawThe law, which took effect July 1, prohibits “foreign principals” from a number of countries from buying real estate in Florida.AJ LaTraceAugust 18, 2023
IndustryPeople on the Move: NWMLS CEO reveals retirement plansTom Hurdelbrink will step down in December, with NWMLS general counsel Justin Haag moving into the top spot.Real Estate News StaffAugust 17, 2023
By the NumbersMortgage interest rates hit highest level in more than 20 yearsAfter a fourth week of increases, average rates reached 7.09% this week, passing last fall's peak.Dave GallagherAugust 17, 2023
IndustryZillow scores victory in REX case ahead of trialA judge has ruled an antitrust claim was without merit, a key component in a federal case involving how portals display non-MLS real estate listings.Dave GallagherAugust 16, 2023