Real Estate Professionals React To NAR’s $418 Million Settlement

By NICOLE MURRAY People who make their living helping homebuyers and sellers have spent the last two weeks figuring out what the $418 million settlement deal announced by the National Association of Realtors means for them and their clients. If approved by a judge, under the settlement buyers will be expected to enter into written compensation agreements with their real estate agents starting in mid-July. Sellers may pay a buyer’s agent commission as part of the negotiation process. They can also opt to pay just their agent. This represents a departure from the current model, where sellers typically pay for their agent, as well as the buyer’s agent, through cooperative compensation. The Mortgage Note spoke with real estate industry professionals…

Avoid The Doom And Gloom: How To Survive To 2025

By NICOLE MURRAY A number of real estate industry professionals experienced a painfully slow 2023 and it is predicted this trend will continue in 2024. With high interest rates and low inventory expected, people are encouraged to use this year to prepare for an explosive 2025. The Mortgage Note spoke with industry professionals to see what they expect and what tactics they plan on utilizing to be successful until the inevitable market boom everyone eagerly awaits. “2024 is going to be another stubborn year for originators,” says Jason Perkins, president of CRM company Bonzo. “We might get some relief with rates, but tight inventory and rising home prices will continue to be a burden for potential homebuyers for quite some…

Holiday Listings Are More Common Than You Think – Here’s How To Stand Out

By NICOLE MURRAY The holiday season can be a tricky time of year in the real estate industry. For many agents, business slows down because people generally don’t want to sell, buy, or move during peak celebrations.    But whether it be a new job or a life update, buying and selling during the holiday season happens more than one would think.    The Mortgage Note spoke with real estate industry professionals across the country to discuss the pros and cons of listing during the holiday season and what to know if you do.    To start, there is less inventory on the market and therefore less competition for those who decide to sell. Shant Banosian, EVP of sales at Guaranteed Rate, said…

A Gift Doesn’t Cut It Anymore: Holiday Marketing Tactics For A Successful Season

By NICOLE MURRAY The goal with any holiday marketing plan is to create connections and remain top of mind with the hopes of gaining future business, but how can professionals do that during one of the most chaotic times of the year? Industry leaders say it’s important to start by realizing that one of the most predictable marketing tactics seen amongst real estate agents and loan officers is to send gifts to previous and current clients. While Rob Jensen, broker/owner of the Rob Jensen Company, has seen many successful agents utilize this tactic, he warns that the time and money spent may go unnoticed and offer no return on investment. “Gifting during the holidays is the least memorable time for…

How To Prevent Buyer’s Remorse

By NICOLE MURRAY The joy and satisfaction of buying a home has been diminished because of remorse for many Americans. Experts say it doesn’t have to be this way. Due to bidding wars, rising interest rates, and a scarcity of options, in recent years homebuyers put themselves under pressure to make quick decisions about the places they now call home. So it’s not surprising that a recent survey by Clever Real Estate showed that a high percentage of people had regrets about buying in 2022 and 2023. First-time buyers were particularly affected. 51% said the seller of their home took advantage of them and 67% said they felt pressured to submit an offer. More than half of all the buyers…

California Leads Luxury Market But That Could Change

By NICOLE MURRAY California continues to dominate the luxury homes market, but that could change as communities fight for the country’s wealthiest individuals. In a recent Point2Homes.com study, analysts looked at which cities in the United States have the highest share of luxury homes worth at least $1 million for sale. Results were categorized by large, mid-sized, and small cities. They found that listings above $1 million make up around 64% of the for-sale market in Los Angeles. LA also led the ultra-luxury sector, with almost 12% of its homes priced above $5 million. Glendale (66%), Huntington Beach (63%), and Oxnard (43%) in California were found to be the three most luxurious mid-sized markets with high percentages of the homes…

Luxury Markets: What Do The Wealthy Really Want In Their Homes?

By KIMBERLEY HAAS Large saltwater pools, massage rooms, and places to store extensive wine collections are popular, but there may be more important things to prospective mansion buyers. During the National Association of Real Estate Editors conference in Las Vegas this month, a panel discussion was held to flush out current demands in the luxury market. Speaking during “Mansions 2024” was Mike Leipart, managing partner of The Agency Development Group; Rob Jensen, president of the Rob Jensen Company; Architect Michael Gardner of Luxus Design Build; and Architect Johnny Cruz of Robert A.M. Stern Architects. Here are five key takeaways: Wellness technology is popular with the rich. Leipart said he was in a home recently where the owner had a sauna,…