AI-Powered Real Estate Marketing Is Here to Stay. Are You Ready?
Any tools that help real estate agents free up time to focus on client relationships is usually a win-win. Enter Artificial Intelligence, or AI, into the chat. With AI-powered tools like ChatGPT, agents can automate their email marketing, quickly write property listing descriptions, create housing market forecasts and much more. Although AI has long been…
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Growing Deficit of Middle-Income Homes Unbalances Market
There just aren’t enough homes—and the homes that are available are becoming increasingly unaffordable. That has been the refrain from consumers, advocates and real estate professionals at least since the pandemic, and in many regions, going back years earlier. Now, though, a joint analysis between the National Association of REALTORS® (NAR) and Realtor®.com is attempting…
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Mortgage Rates Decline After a Three-Week Ascent
After three weeks of hikes, mortgage rates did an about-face this week. According to the latest Primary Mortgage Market Survey (PMMS) from Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 6.71% this week, down from 6.79% the previous week. This week’s numbers: 30-year fixed-rate mortgage averaged 6.71% as of June 8, 2023, down from last…
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First-Time Homebuyers Still View Homeownership as Important
Despite the fluctuating housing market this past year, confidence levels remain high with 44% of potential homebuyers, up 12% from the previous year, indicating they are confident they’ll be financially ready to purchase in the coming year, according to a new report from Chase. Chase’s First-Time Homebuyer Study is based on the responses of 1,900…
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Broker Public Portal Appoints New Chairman
The Broker Public Portal (BPP), a collaborative home search portal between brokerages and MLSs, has announced a leadership recruitment drive. Dana Strandmo, the chief administrative officer of HomeServices of America, will now serve as the BPP’s chairman. “I am honored to accept the position as the new Chairman of the Broker Public Portal and work…
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Independent Research Shows United Real Estate Pays More Than Any Other National Brokerage
New research by industry tech strategist Mike DelPrete released this week reported that United Real Estate (United) pays its agents 96% of total gross commission earned—more than any other national residential brokerage. According to the company, the residential brokerage is able to do so while also delivering a full complement of agent productivity tools, lead-generation,…
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New Luxury Market Report Examines Affluent-Priority Shifts, Hot Markets
The Institute’s Luxury Market Report is your guide to analysis on the trends and comparative data in the top residential markets across Canada and the United States. May’s report examines the current statistics of the luxury market in North America on a month-to-month basis, along with the 13-month trend. This month, we explore new mindsets…
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Attracting Top Producers With a Growth Mindset
Above: Sonny Downey, left, and Raymond Rivera Raymond Rivera CEO Sonny Downey President United Real Estate | Gallery Jacksonville, Florida https://www.UnitedRealEstateGallery.com Region served: Greater Jacksonville and Northeast Florida Years in real estate: Ray: 18; Sonny: 20 Number of offices: 8 Number of agents: 400 Why did you choose United Real Estate’s national network? Raymond Rivera:…
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Affordability Struggles Persist, With New Challenges Emerging
Tightening credit availability is adding to affordability struggles as rates remain elevated, inventory shortages worsen and home prices strengthen, according to a new report from Black Knight. Black Knight’s monthly Mortgage Monitor report uses the company’s mortgage, real estate and public records data sets to observe industry trends. April’s report looked at the intersection of…
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Home Envy ‘Rampant’ Among Younger Generations
A survey, conducted by tech services company Mphasis Digital Risk, found that “home envy” is stronger among generations Z and Y. The survey shows responses from 1,386 Americans aged 46 or younger across the spectrum from lower to upper middle income. 74% percent of respondents indicated they currently own a home; the same percentage agreed…
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