NAR’s $418 Million Settlement: Where Are We Now?

By NICOLE MURRAY The National Association of Realtors agreed to a settlement in March that is expected to permanently shift the real estate industry. Buyers will be expected to enter into written compensation agreements with their real estate agents and it will be optional for sellers to pay for the buyer’s agent commission. In addition, those commissions will no longer be marketed on the Multiple Listing Service. Preliminary approval of the agreement has been granted by a judge with a final approval hearing set for November, and industry experts are expecting these changes to roll out this summer. It’s hard to predict how long it will take for the market to adjust. Real estate agents and lenders who recently spoke…

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 Capitol Hill Chaos Affects The Mortgage Market

Turmoil in Congress is making headlines, but will it impact the economy – and the mortgage industry – more broadly? The House this week voted 216 to 210 to remove Kevin McCarthy (R-CA) from his position as speaker. He was the first speaker to be ousted through a vote in the middle of a congressional term. No new speaker has been appointed, though several Republicans have put themselves in the running. “It’s uncharted territory because we’ve never done that in the history of the United States,” Matthew Green, a politics professor at Catholic University, told CBS News. The short-term impact of this week’s turmoil has been felt immediately in the mortgage market. Redfin Economic Research Lead Chen Zhao said that…

Morning Roundup (11/30/2021)– Your Company’s Favorite Charity Could Receive $1,000!

Good Morning! Today is Tuesday, November 30. The W.H.O called the Omicron variant a “very high” risk to global health. Jack Dorsey stepped down as Twitter’s chief executive. Barbados swore in its first president, officially becoming a republic and cutting ties with England. And in mortgage and housing news… Your Company’s Favorite Charity Could Receive $1,000: Across the country this December, mortgage professionals will be stepping up to help people in need, support community charities, and generally help make the season a little brighter. The Mortgage Note wants to celebrate those efforts by highlighting them in an upcoming edition of this newsletter. One office’s favorite charity will receive a $1,000 donation from The Morgage Note! Details here. SFRhub Teams Up With…