You are viewing our site as an Agent, Switch Your View:

Agent | Broker     Reset Filters to Default
Realtor.com Weekly Housing Report: Nearly 400,000 Fewer Homes Have Been Listed Since the Start of the Pandemic
Overall market strength shows slight improvement over last week due to the containment of natural disasters SANTA CLARA, Calif., Sept. 24, 2020 -- Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory, according to realtor.com's Weekly Housing Report for the week ending Sept. 19. As a result, home prices are accelerating at double last year's pace while homes sell 12 days faster than last year, on average. "Sellers are more reluctant to list their home given the uncertainty over the economy and the pandemic environment. Buyers on the other hand, especially hungry first timers, remain largely unfazed by the challenges, and are motivated by low mortgage rates and the fear of missing out on the right home," said Javier Vivas, director of economic research for realtor.com®. "The majority of sellers are also buyers, so even as new listings hit the market, another buyer is also added. Adding to the inventory issues, thousands of previously vacant homes, such as second homes and rentals, have been reoccupied by their owners during the pandemic, effectively taking them off the market." Number of homes on the market remains woefully behind last year Since mid-March (the beginning of the COVID pandemic), a total of 2.91 million unique properties have been put on the market for sale. This is approximately 390,000 fewer homes than the 3.30 million listed during the same period last year. As of this week, the number of homes on the market is down 39% compared to last year. With the typical seasonal slowdown approaching, relief in terms of more available homes for sale is unlikely. The number of new listings hitting the market this week was down 15% compared to last year, a slight improvement over last week's decline of 17%. The slight uptick was likely a result of having a full work week compared to the short holiday week (Labor Day), as well as better containment of wildfires on the West Coast. Home prices continued to see record breaking growth Median listing prices continued to grow at last week's record breaking pace of 11.1% year-over-year. This is more than double January 2020's price acceleration and the 19th week in a row of price acceleration. Homes are selling even faster than last week Homes are selling in 53 days, which is 12 days faster on average than this time last year, and one day faster than last week. The rapid turnover is fueling home sales, and keeping the market from stalling. With buyer demand showing no signs of cooling, homes are expected to continue flying off the market, despite a depleted supply. Housing market strengthens after last week's disasters Realtor.com® tracks the overall strength of the housing market through its proprietary Housing Market Recovery Index, which compares real-time key indicators including trends in number of searches on realtor.com®, median listing prices, the number of newly listed homes, and the time it takes to sell to January 2020, prior to the pandemic. This week, the index was 107.2 points, 1.0 point stronger than last week and 7.2 points stronger than it was pre-COVID. The slight improvement over last week can be attributed to the containment of fire and hurricane damage, which had weakened levels of supply.   About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
MORE >
Rental Beast September Market Report: Conversation with Brian Horrigan, Chief Economist at Loomis Sayles
September 23, 2020 -- In conjunction with our regular monthly Market Report, Rental Beast interviewed Brian Horrigan, Chief Economist at Loomis Sayles, a Boston-based investment management firm with more than $310 billion in assets under management, to discuss economic trends and COVID-driven real estate developments. Rental Beast spoke with Horrigan on the 19th anniversary of the September 11th attacks, and Horrigan draws enlightening parallels between the economic conditions following 9/11, and today's COVID pandemic. Horrigan explains that 9/11 permanently changed the way airport security is handled. Similarly, he expects the pandemic to have long-term effects on where we work and where we live. Although COVID-19 restrictions will eventually ease, Horrigan expects many companies will adopt a permanent hybrid work from home model. "Extended lockdowns forced millions of employees to experience working from home for the first time, and many workers found that a work from home model resulted in both more productive working hours, and the ability to spend more time with family and pursuing other interests," says Horrigan. "Even after restrictions are eased, many employees may not want to return to pre-pandemic routines and will make future real estate decisions without considering proximity to the office." Since mid-March, Rental Beast's Rental Inquiry data has shown renters moving away from urban centers to the suburbs. Horrigan emphasizes that, for millennials in their prime family formation years, the pandemic has highlighted the risks of urban living. Horrigan comments on the rise in millennial-driven suburban living, saying, "Even before the onset of the COVID-19 pandemic, many millennials left cities in search of suburban affordability and space. And, with the spike in urban violence, fear of COVID-19 contagion, and concern of future outbreaks, the number of millennials interested in non-urban living options will continue to rise." However, Horrigan is careful to point out, "This is not all bad news for urban centers. Cities will need to re-define themselves, and we may see more commercial projects pivot towards residential activity in order to address major pre-pandemic issues, including poor housing availability and affordability." But, as developers look ahead to new projects, a lack of available land near city centers will push development further away from major metro areas. If Horrigan's theory plays out, a combination of more work from home opportunities and millennial-driven suburban development may result in more affordable housing options in urban centers. While much of the resale and rental market is, in Horrigan's words, "Go, go, go," homeownership and rentals in city cores have been compromised. He emphasizes that it took most cities decades to develop the levels of safety and vibrancy needed to attract and keep residents. "COVID is dramatically changing these dynamics. Major cities will need years to repair the damage done." Rental Beast's August 2020 data reflects slowing interest in the urban rental market. In this report, we evaluate exclusive data from five major U.S. cities: Atlanta, Boston, Chicago, Miami, and Philadelphia. We track year-over-year (YOY) changes in Rental Inquiries and Rental Concessions in each city to gain a picture of market conditions. Rental Inquiries Rental Inquiry Volume Continues to Fall in Most Markets Rental Inquiries are prospective tenants actively seeking to rent an available property in our database. Rental Inquiry volume typically follows a predictable seasonal pattern—Rental Beast data from previous years show a high volume of Rental Inquiries during the summer months, as renters hoping to move in the fall begin their apartment search. Departures from such patterns serve as powerful, quantifiable early indicators of a shift in the rental marketplace and are more powerful predictors of future transactional activity than traditional rental information, such as average rent. Rental Beast monitors all inquiries to available listings on the Rental Beast website and listings syndicated to our partner sites including Facebook Marketplace and Realtor.com. August was yet another month of high anxiety for renters. Americans continued to process powerful economic and social factors, including the expiration of the CARES Act, ongoing confusion about school re-opening plans, numerous social reform protests, amped up messaging ahead of the U.S. presidential election, and, of course, the continued effects of COVID-19. In August, Rental Inquiries were down YOY in three out of five markets surveyed. Boston, Miami and Atlanta all recorded significant YOY declines, while Chicago and Philadelphia registered YOY increases: Chicago and Philadelphia registered positive YOY Rental Inquiry results, with gains of 144% and 32%, respectively. Despite health, economic, and social challenges, August represented the 4th consecutive month of positive YOY Rental Inquiry results in Chicago. Rental Beast had the opportunity to discuss the state of the Chicagoland rental market with Chicago real estate leader and CEO of Exit Strategy Realty, Nick Libert. Libert, who has a successful track record of working with both homebuyers and renters, explains that due to historically low interest rates more Chicagoans are considering homeownership, many for the 1st time. This desire for homeownership has driven his 2020 business to record levels. However, a key factor in the growth of the for-sale market is job security. Conversely, some clients must adjust their housing plans due to layoffs. Libert shares that some clients who were in the market to buy a home decided to rent due to recent furloughs. Other potential homebuyers choose to continue renting in pursuit of better deals on home prices—Libert adds that many of his clients who may be financially positioned to purchase a home are choosing to rent, waiting for lower home prices while the economic fallout from COVID-19 persists. For three of the past four months, Philadelphia recorded positive YOY Rental Inquiries as the city of Brotherly Love continues to benefit from renters moving out of NYC in pursuit of more space and lower costs. August represents the eighth consecutive month that both Boston and Miami reported negative YOY Rental Inquiry rates—down 65% and 62%, respectively. Atlanta also reported a 53% decline, continuing the city's nearly year-long trend of negative YOY Rental Inquiries. Like most major metros, many of Boston's large office complexes sit empty as companies re-think their real estate needs. While the shift to virtual models by Boston's universities and large corporate employers has dampened rental demand, Horrigan is optimistic that Boston will recover more quickly. "Unlike many other cities across the US, Boston crime-rates have remained relatively low, suggesting a smoother road to recovery." Like Boston, Miami recorded negative YOY Rental Inquiry rates, as tourism continues to suffer under COVID-19 restrictions. Rental Concessions Rental Concessions Settle in Some Markets While Remaining Prevalent in Others Rental Concessions are compromises landlords make to original rent terms in the hope of filling a vacancy more quickly. Rental Concessions can include monetary compensation, a discount, or various goods and services. For August, Rental Concessions dropped in Philadelphia, Chicago, and Atlanta, while Boston and Miami registered YOY increases: Throughout August, anxious landlords and tenants hoped for guidance from Congress about new rent relief measures. Absent further guidance, landlords continued to slow the pace of Rental Concessions with the following YOY declines: Philadelphia (-99%), Chicago (-54%), and Atlanta (-14%). "Lawmakers in Congress and the Administration need to come back to the table and work together on comprehensive legislation that protects and supports tens of millions of American renters by extending unemployment benefits and providing desperately needed rental assistance," said Doug Bibby, National Multifamily Housing Council President. Boston & Miami landlords continue to offer Rental Concessions to prospective tenants. Boston Rental Concessions were up 99% YOY for August, while Miami posted a 82% YOY increase. Pre-COVID, Boston landlords rarely offered Rental Concessions. However, landlords have quickly adjusted to reduced demand by offering high concessions. Ishay Grinberg, Rental Beast's founder and CEO, comments, "As a landlord, I want to make sound financial decisions while still attracting the best residents. I don't want to lower rents, because it will be very difficult to raise them to market value later. Offering Rental Concessions strikes the right balance—they help landlords fill vacancies, and tenants benefit from some financial relief." About Rental Beast Rental Beast is a SaaS platform that simplifies the leasing process with an end-to-end platform and maintains a highly accurate database of over eight million off-MLS rental properties. With active listings in 19 markets across the United States, and 5 additional markets opening within the next 30 days, Rental Beast's Data Services Group tracks various rental trends in its markets across the nation.
MORE >
MoveEasy Launches Mobile App
MORE >
Why Homesnap Pro+ Has Been Dubbed the Amazon Prime of Real Estate
Comparing Amazon Prime to Homesnap Pro+ may seem pretty lofty. But allow us to explain why it's an apt analogy: Amazon Prime offers a collection of benefits that, together, satisfy every need or want a member could have. Subscribers can order groceries for delivery in under two hours. Cook dinner with the kitchen utensils they bought at a discount on Prime Day. Settle in after their meal and watch original programming on Amazon Prime's streaming service. And then, before bed, read a New York Times' bestseller on their Kindle Paperwhite. Virtually everything and anything members could ever need on a day-to-day basis is readily accessible at little more than a click of a button. Homesnap Pro+ is built upon that same principle of ease-of-use, consistency and convenience. For one annual subscription fee, agents get access to a bundle of products and services that aid them in taking a holistic approach to their digital marketing. They'll be empowered to build a consistent, wide-reaching, and credible presence across the web—from social media to search engines, home-search portals and business websites—on one platform. What's included in Homesnap Pro+ and how each feature works to improve your digital marketing Google Business Profile Verification, Optimization and Management As an established Google Premier Partner, Homesnap Pro+ can instantly verify, manage, and optimize your Google Business Profile for you. We'll take all the guesswork, technical know-how, and general head-scratchers out of managing a Google Profile. We'll help you claim your profile and load it with your photos, listings, contact information and regularly optimize your profile's performance, so you can boost your appearance search results—by as much as 5,000%. Then, we'll send you regular performance reports so you track your progress toward becoming a top, sought-after agent in your area every step of the way. Why does this matter? Today's consumers don't search for specific agents, but for more broad terms like "best real estate agent" or "top-rated agents near me." Because of this, Google has to decide what results to display—it has to determine which businesses most accurately reflect the users' search parameters and are therefore most likely to satisfy the query. The more information Google has about a business, the more likely it is to recommend it (i.e., rank it higher in search results) to its users. In years past, this could have been accomplished by SEO (content on blogs, websites, social media, etc.). Now, though, Google has changed the game. Google wants businesses to provide the information it needs to make a decision directly to Google. Put simply: Google wants you to use a Google product (the Google business profile) to rank high on Google search. Homesnap recently ran a study that traced the growth of our customers using Homesnap Pro+ to verify, manage, and optimize their Google business profiles and found the following results: After three months, customers increased their appearance in searches 380% After six months, customers increased their appearance in searches 1,037% After one year, customers increased their appearance in searches 3,087% After a year and a half, customers increased their appearance in searches 5,037% Real Estate Websites Homesnap Pro+ Real Estate Websites are professionally developed, personally branded, and powered by Homesnap Search. They enable you to establish a credible, lead-generating online presence in minutes, not weeks—and are ready to go live with little more than a click of a button—at a fraction of the cost of traditional website builds. These professionally designed websites include: A simplified, elegant layout that prominently features your preferred web address name and brand across all pages A built-in search portal powered by Homesnap, featuring the most accurate, real-time data in the industry Powerful, lead-generating real estate tools built-right in that consumers love. A built-in search portal powered by Homesnap, featuring the most accurate, real-time data in the industry Why does this matter? Real estate agent websites are important for obvious reasons, but Homesnap Pro+ Real Estate Websites offer agents a modern, fully customizable solution. You'll never have to worry about upkeep, maintenance, or outages because Homesnap will handle all of the backend management for you. And because a Homesnap Pro+ Real Estate Website comes as part of your membership, you'll save hundreds of dollars each year on third-party hosting and management fees—meaning your Homesnap Pro+ subscription practically pays for itself. We'll even migrate your existing website and domain name at no additional cost. One-Click Review Tool The One-Click Review Tool is designed to make it easier than ever for agents to invite clients, colleagues, and personal connections to leave reviews on Google. No more calling or texting asking for a positive review on Google. No more awkward conversations. Simply add the person's email address or click on a Homesnap contact, and we'll instantly send an email on your behalf asking them to leave a positive review. With the One-Click Review Tool, agents receive a positive review for every 2.6 review requests they send, which is 3X more often than the industry average. And agents who've used the One-Click Review Tool regularly (five or more times) had an average lifetime review rating of 4.95. Those who didn't? Their rating averaged out to just 1.5. Why does this matter? You know reviews are important for your reputation, but clients aren't particularly motivated to leave positive reviews without a nudge. Not only does the One-Click Review Tool help you get those positive reviews you need to win more business, but it will also boost your overall search rankings. According to our data scientists: Agents with an average review rating of 4.0 or better on Google appear in 350% more Google searches than agents with an average review rating of 0-3. Agents with a 4.0 average review rating on Google received 300% more actions (calls, texts, website views, and direction requests) than those with a review rating of 0-3. The more reviews an agent has, the better they perform in search, views, and actions. The only problem? The impact of positive reviews tends to diminish over time: Without at least one review every 90 days, the above benefits decrease by about 50%. So, you need to make sure your reviews are constantly up to date. Advanced Off-Market Search Filters Are you familiar with our heatmaps and off-market search filters, like Likelihood to List, that are available to agents right now as part of their Homesnap Pro membership (which is included as part of your MLS subscription)? Homesnap Pro+ unlocks additional advanced features, so you can dig even deeper on the status of off-market properties. These include: Distressed Information, Ownership Type, Home Equity, Loan Balance, and Consumer Demographics (which includes age, gender, marital status, income, and number of children, as well as social media information.) Why does this matter? As prospecting gets harder and harder and in-person canvassing takes a backseat in a pandemic world, being able to zero in on properties likely to hit the market before they do can be a huge boon for agents. In short, if you're looking for a more strategic way to discover listings before your competition, Homesnap's Off-Market Search Filters are some of the best tools available to do it. Enhanced Agent Profiles With a Homesnap Pro+ membership, you'll have an enhanced version of our agent profile page. We'll populate new sections to your profile such as your Google reviews, content posts, business details, and more. We'll include a blue checkmark badge on your profile photo that highlights you're a verified, credible agent. Why does this matter? Trust, as you know, is integral to agent-client relationships. An enhanced agent profile lets the 1,000,000+ users of the Homesnap Search Portal know you're a credible, professional, and recommended agent. Who's Viewed My Listings & Profile Homesnap Pro+ includes Who's Viewed My Listings & Profile. Who's Viewed allows you to see how many consumers have viewed your listings in the last 90 days, as well as which how many agents have viewed your profile and listings in the last 90 days. Why does this matter? By using the Who's Viewed feature, you can connect with interested buyers, report back to sellers how many agents and clients have viewed their listing, and monitor your growing business and understand how your digital presence is changing over time. Custom Lead Pages With Homesnap Pro+'s Custom Lead Pages, you'll get instant access to an optimized lead-gen tool. When you have a listing, we'll generate a custom lead page that you can use for all your marketing needs, from listing pages to social media and other marketing materials. Why does this matter? Not only will these professionally designed pages impress your sellers, they'll also help you save time while ensuring you're optimizing lead generation. They're branded to you and purpose-built to encourage prospects to provide personal information you can use to get in touch. NEW Sell Speed Like Amazon Prime, we're constantly adding new features, and Sell Speed is the latest edition to the Homesnap Pro+ bundle. Currently in beta, Sell Speed is a proprietary artificial intelligence algorithm, composed of hundreds of up-to-the-minute real estate market data points, that predicts how quickly a home will sell at various price points. Homesnap Pro agents can use Sell Speed on their listings or any off-market property, and Homesnap Pro+ agents can also add Sell Speed to any available active listing*. Why does this matter? Sell Speed takes the guesswork out of determining an asking price or making an offer for a property on behalf of a client. Use Sell Speed to help clients set realistic goals and expectations or arm yourself in buyer negotiations and get a fair market offer for your clients. Bottom Line Homesnap Pro+, like Prime, provides members access to a collection of benefits that seamlessly work together to make agents' lives easier. No more piecemeal tactics. No more disparate platforms or lack of a cohesive strategy. Just everything an agent could ever need to bolster awareness, enhance credibility, and generate more leads—all in one place. Is Homesnap Pro+ Right For You? Learn More. To view the original post, visit the Homesnap blog.
MORE >
W+R Studios Co-founder Greg Robertson Releases Debut Title, 'The Art of the CMA'
MORE >
Homebuyers on a $2,500 Monthly Budget Can Afford $33,000 More with Low Mortgage Rates, But Higher Home Prices Cancel Out Increase
Historically low rates are motivating homebuyers even though prices were up 8.2% year over year in July, effectively cancelling out the 6.9% increase in purchasing power SEATTLE, Sept. 3, 2020 -- A homebuyer with a $2,500 monthly housing budget can afford a home priced $33,250 higher than a year ago, thanks to historically low mortgage rates, according to a new report from Redfin, the technology-powered real estate brokerage. At a 3% mortgage interest rate—roughly the average 30-year fixed rate for July and August 2020—a homebuyer can afford a $516,500 home on $2,500 per month, up from the $483,250 they could afford on the same budget when the average was 3.77% in July 2019. The $33,250 rise in purchasing power from last year (from $483,250 to $516,500) is a 6.9% increase. The 8.2% year-over-year home-price increase in July, the largest rise in more than two years, was higher. Historically low mortgage rates are responsible for both: They push up homebuyer demand, which leads to an uptick in home prices. Those are the intended results, as the Fed is using low interest rates to stimulate the economy during the pandemic-driven recession. "Low mortgage rates are motivating many people to purchase a home, particularly those who want more space to work from home," said Redfin chief economist Daryl Fairweather. "But because there hasn't been an increase in the number of homes for sale since rates started dropping with the onset of the pandemic, many buyers end up competing for the same homes, driving up prices. Those competing forces make the current market a wash for many buyers looking for single-family homes in competitive areas. Buyers searching for condos can find a better deal, both on overall price and mortgage payments, because most condos are less competitive than single-family homes as people move out of densely populated urban areas." The continuing housing supply shortage means there are fewer affordable homes for sale for someone with a $2,500 monthly budget than last year. In July 2020, 70.6% of homes nationwide were affordable on that budget, down slightly from 71.9% in July 2019. Despite bigger budgets, buyers have fewer options in many metros There were fewer homes for sale on a $2,500 monthly budget than last year in the majority of metros Redfin analyzed. Salt Lake City (-5.2 percentage points), Kansas City (-3.7), Austin (-3.2) and Boston (-3) saw the biggest declines in the share of affordable homes for sale. Miami (+2.1), Jacksonville (+2), Columbus (+2) and Milwaukee (+2) experienced the biggest increases. In Providence, Rhode Island, where the share of affordable homes has declined 1.5 percentage points since last year, Redfin agent Lisa Bernardeau says low rates are the primary motivation for buyers right now. "Back in June, homebuyers thought they could take advantage of low rates and get a good deal because of the pandemic. Now they're seeing that's not the case because inventory is so tight and there's so much competition, but most buyers are still powering through. Regardless of high prices, a lot of buyers have been watching the market and they don't want to miss out on historically low rates or risk prices going even higher. Low interest rates are the number one driver right now." To view the full report, including charts and methodology, please click here. About Redfin Redfin is a technology-powered residential real estate company, redefining real estate in the consumer's favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country's #1 real estate brokerage search site, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we've helped them buy or sell more than 235,000 homes worth more than $115 billion.
MORE >
NAR Announces New International Language Assets Available on NAR+Photofy App
MORE >
Real estate agent survey reveals how home builders can increase sales
Dallas area agents want the same access to new homes they have for existing homes DALLAS, TX - September 2, 2020 -- A new study shows real estate agents would sell more new homes if they were as easy to show as other homes listed for sale. HomesUSA.com, America's number one brokerage for new home sales, polled more than 4,000 agents who sold both new and resale homes in the Dallas-Ft. Worth area. A vast majority (86 percent) of agents responding said they would sell more new homes if they could show them outside of regular builder hours. The survey also found that two digital real estate tools widely used to expedite showings by agents of existing homes are needed to increase agent sales of new homes. Three-in-four agents (74 percent) said if builders provided electronic key boxes and an online scheduling service, they would sell more new homes. HomesUSA.com CEO Ben Caballero is a current Guinness World Record title holder who set a new record for home sales in Dallas-Ft. Worth last year. He says builders are missing a massive opportunity by not offering agents easier access. "Real estate agents are nearly unanimous in what builder can do to help them sell new more homes. Agents need more flexibility scheduling and showing new homes," said Caballero. Agents pay additional fees to use these digital products, as these showing technologies enable them to be more productive. However, builders do not use these digital services with their new home offerings. This puts an unnecessary obstacle that discourages agents from showing new homes, the survey found. "The first rule of selling is to make buying easy," Caballero, who has sold more new homes than any other real estate agent in history, said. "Every impediment an agent encounters in showing a home reduces the foot traffic in that home. Unfortunately, some builders tell me that they would rather lose a sale than lose control of access to their homes." Caballero notes that it wasn't too long ago when as buyer's agent had to call the listing agent to schedule showings and then pick up a key from them. Today, these outdated practices have been replaced by technology that is used universally in real estate, except for home builders. Online showing services can allow agents to schedule showings before or after builder hours and at times builders typically make homes available to buyers. HomesUSA.com's Caballero, says that based on his experience working with 60+ builder clients throughout Texas, most builders choose the wrong agent incentives. "Builders spend a tremendous amount of money on bonuses, trips, and other perks to encourage agents to sell their homes," Caballero said. "Most overlook a simple, easy, and inexpensive way to motivate agents to sell their homes. Builders can save a lot of money by allowing agents the same flexibility they have when selling existing homes." The survey found that 91 percent of agents agreed that "a scheduling service is the best way to schedule showings." Nearly nine out of ten (89 percent) agreed that "electronic boxes are the most convenient way to access homes." "It's common for builders to offer a financial incentive – a bonus – to a real estate agent for selling a new home. But the survey shows that access to a new home is far more important to an agent than a bonus," Caballero added. Over half of agents surveyed say they are not strongly influenced by a bonus to show a home. "Bonuses are expensive. It's much less expensive for a builder to allow agent to use keyboxes and online scheduling services that agents are accustomed to using," he added. About Ben Caballero and HomesUSA.com® Ben Caballero, founder and CEO of HomesUSA.com, holds the current Guinness World Record title for "Most annual home sale transactions through MLS by an individual sell side real estate agent." Ranked by REAL Trends as America's top real estate agent for home sales since 2013, Ben is the most productive real estate agent in U.S. history. He is the only agent to exceed $1 billion in residential sales transactions in a single year, a feat first achieved in 2015 and repeated each year through 2018 when he achieved more than $2 billion. An award-winning innovator and technology pioneer, Ben works with more than 60 home builders in Dallas-Fort Worth, Houston, Austin, and San Antonio. His podcast series is available on iTunes and Google Play. An infographic illustrating Ben's sales production is here. Learn more at HomesUSA.com |Twitter: @bcaballero - @HomesUSA | Facebook: /HomesUSAdotcom.
MORE >
Historic Jump in Showing Activity Seen Nationwide as July Home Buyer Traffic Surges 60.7 Percent
MORE >
Realtor.com Helps Home Shoppers Understand a Property's Flood Risk
For-sale and off-market properties across the contiguous U.S. now include Flood Factor from First Street Foundation and FEMA flood data SANTA CLARA, Calif., Aug. 26, 2020 -- To help consumers better understand flood risk and take necessary precautions, realtor.com now includes flood risk information on for-sale and off-market properties. Properties now display a Flood Factor from First Street Foundation, a nonprofit research and technology group, which is a score between one and 10 that represents its cumulative risk of flooding over a 30-year mortgage. Properties also display their FEMA Flood Zone, providing realtor.com users with a comprehensive understanding of their flood risk. This first-of-its-kind data integration on realtor.com® will give home shoppers and homeowners easy access to previously hard-to-find information about flood risk. Users can also drill down for additional details on past, present and future risk, and explore the interactive flood map. "Historically, determining a property's flood risk was an onerous process -- in some cases, potential buyers would have no idea a property was in a flood zone until it was flagged by the mortgage company prior to closing, or in some cases not at all," said Leslie Jordan, senior vice president of product, realtor.com® . "By surfacing this information upfront, consumers can avoid surprises and have all the information they need to make informed decisions and feel confident about the home buying process." First Street Foundation has developed the industry's most comprehensive, climate adjusted flood risk model, assessing flood risk at the individual property level today and in the future throughout the continental U.S. The model incorporates local adaptation, includes areas not currently mapped by FEMA, and assesses risk from four types of flooding events, including riverine, rainfall, storm surge, and tidal sources. The model addresses the reality that these sources have been, and continue to be, impacted in different ways by a changing environment. The First Street Foundation Flood Model was produced in partnership with more than 80 of the world's leading hydrologists, researchers and data scientists and has been reviewed by some of the world's leading research institutions. FEMA Flood Maps are the official public source for flood hazard information produced in support of the National Flood Insurance Program. A property that is in a Special Flood Hazard Area is identified as having flood, mudflow or flood-related erosion hazards and requires mandatory purchase of flood insurance. In order to make the most informed decisions, home shoppers should consider multiple sources of data and have a discussion with their real estate agent. "Integrating Flood Factor on realtor.com® provides millions of current and future homeowners with a comprehensive, accessible understanding of a property's flood risk due to a changing environment over the life of a 30-year mortgage," said Matthew Eby, executive director of First Street Foundation. "By democratizing access to this information, First Street Foundation is helping homeowners protect what is likely their largest, most valuable asset: their home." Realtor.com® aims to provide consumers with as much information as possible so they can feel confident in their real estate decisions. By better understanding a property's risk of flood, homeowners can protect their home with flood insurance and other precautionary measures. Realtor.com®'s new flood data can help reduce flood-related surprises at the closing table. Agents and brokers can use this valuable information to provide additional context, guidance and insights to the buyers and sellers they work with. Professionals can use both the FEMA and Flood Factor™ data on realtor.com® to help reduce the number of clients who buy high-risk properties by surprise or list properties before mitigating the risk by helping their buyer and seller clients perform due diligence and increase confidence in real estate markets, particularly where FEMA does not currently map. Flood risk data is now available on realtor.com® web, mobile web, iOS and Android apps. For more information on Flood Factor and a free online flood data visualization, visit floodfactor.com. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
MORE >
West Coast, Best Coast, No More?
MORE >
Real Estate Agents, Teams Get Access to Delta Media's Best CRM Platform for the First Time
CANTON, Ohio, Aug. 19, 2020 -- Delta Media Group Inc., one of America's most established and largest broker technology solutions providers, announces its most advanced website and digital marketing platform with built-in CRM - DeltaNET 6 - will be available directly to individual real estate agents and teams, as well as small brokerages for the first time. Until now, the DeltaNET platform has been aimed at larger real estate brokerages and franchises. Beginning Aug. 24, the entire DeltaNET 6 CRM platform with all features unlocked will be available to agents and teams as a 30-day no commitment trial offer. A free webinar that details the new program is set for Tuesday, August 25, at 3:00 pm Eastern Time, with details here. "The best CRM is the one an agent will use," says Michael Minard, CEO, and owner of Delta Media. "Delta Media is offering agents and teams a CRM solution that's instantly adopted because it's fully integrated into the automated tools they'll use every day both for their websites and all their digital and traditional marketing." Minard explains individual agents and teams can leverage an array of automation using DeltaNET 6, from set-and-forget drip prospecting campaigns and My Customer for Life auto email engagement offerings to Facebook and LinkedIn connectors, and its unparalleled eCards and flyers platform. "One system to capture, cultivate, and connect to clients," says Minard. In addition to the built-in CRM, one of Delta's platform's most significant advantages is website and digital marketing customization, ensuring differentiation between brands that compete in any market. "Agents and teams thrive on differentiation," he adds. Minard notes artificial intelligence improvements will enrich its DeltaNET 6 CRM capabilities. New AI features will power agent and team websites by offering consumer suggestions and automated marketing engagements - all tracked automatically inside its built-in CRM. Consumer search, for example, will monitor consumer behavior to anticipate the next steps. For agents and teams, artificial intelligence will help them review their sales funnel and make suggestions on which customers need to be contacted. At the end of the 30-day trial, real estate professionals can keep the full-featured DeltaNET 6 platform for $99 a month, select from a starter program at $25 a month, or pay $49 a month for a more advanced program. Full details on these new program options will be available in September. About Delta Media Group Delta Media Group, located in Canton, Ohio, is a leading and trusted technology partner for many of real estate's top brands. Creator of the DeltaNET 6, real estate's most advanced all-in-one digital marketing, back office, and website platform, Delta Media Group is the largest family-owned and operated technology innovator with no outside investors or VC funding. Delta Media Group is renowned for saving clients money while reducing the frustration of managing multiple online technologies. Established in 1994, Delta Media Group remains a top real estate technology innovator. Discover more at deltamediagroup.com.
MORE >
Urban Rental Markets Show Signs of Cooling
MORE >
People Are Searching in the Suburbs More Than Ever Before
Remote work, desire for more space is driving home shoppers to less dense, relatively nearby metros SANTA CLARA, Calif., Aug. 10, 2020 -- America is looking to move again, and the COVID-19 pandemic is influencing the U.S. housing market both in terms of where people are searching and what they are searching for, according to realtor.com®'s quarterly Cross Market Demand Report, which measures search data to provide insight into where shoppers are looking for their next home. After an initial shift in search habits at the onset of the coronavirus in the U.S., home shoppers looking outside their current metro area for homes have surpassed pre-COVID levels, and more are increasingly setting their sights on the suburbs. During the second quarter of 2020, 51% of views from urban residents of the U.S.' 100 largest metros went to suburban properties in their metros, an all-time high since realtor.com® began tracking metro level search data in 2017. "We see lingering effects of the coronavirus on shopping behavior and preferences. In the Northeast, especially, people are now as likely as before the pandemic to be looking for a home in a market that's not where they currently live. However, those looking elsewhere are much more likely to be looking in smaller, nearby markets," said realtor.com® Chief Economist Danielle Hale. "With remote work more common and accepted, it seems that people are looking to locate further from the office either to enjoy more space at a better price, or get closer to nature in the mountains or at the beach. At this point, they are not venturing too far away." The search data analysis reinforces the findings of a recent realtor.com® Harris X consumer survey of 2,000 active home shoppers, which indicated that home purchase decisions are being influenced by consumers' ability to work remotely, desire for more space and their willingness to commute longer to get what they want in a home. Northeastern markets heat up as search activity is shifting to smaller, less dense areas Following a decline in searchers looking outside their local market during the second quarter, Northeastern markets saw an uptick in interest in July. This activity was primarily driven by residents of the region's larger metros looking in smaller, nearby bedroom communities or vacation home markets such as East Stroudsburg, Penn, Bridgeport-Stamford-Norwalk, Conn. and Atlantic City and Ocean City, N.J. The same trend was evident in the New York metro area, where demand grew in outer-lying counties, such as Nassau and Suffolk County, N.Y., and Monmouth and Ocean County, N.J., but decreased slightly in Manhattan and the Bronx. Remote work policies could influence the West With many tech companies extending their work from home policies and employees anticipating that their employers will afford more flexibility for remote working, the potential exists for home shoppers to search farther from home as the year progresses. During the second quarter, people looking for homes in Seattle, Portland, Los Angeles and San Diego from outside markets cooled, while Riverside-San Bernardino, San Francisco, and Sacramento saw an improvement in out-of-market home-buying interest. Demand in Riverside was heavily driven by Los Angeles residents, while the market also saw demand from San Diego searchers. Sacramento homes were primarily viewed by home shoppers from San Francisco, San Jose and Los Angeles, which could be prompted by remote workers seeking affordability and more space. San Francisco's out-of-market demand, however, counters these broader trends. Interest in San Francisco was primarily driven by San Jose, perhaps as nearby shoppers see an opportunity to get into the pricey, exclusive market. South and Midwest cool as COVID cases heat up While the Southeast, especially South Florida and the states of Texas, Mississippi, Alabama, Georgia and South Carolina saw an increased interest from searchers in other markets during the second quarter, out of market searches slowed in July as the region battled a spike in COVID-19 cases. At the same time, some of the region's largest metros, including Atlanta, Dallas, Houston, Miami and Tampa, saw inbound searches decrease in July compared to the second quarter. The Midwest saw increasing out of market shopping interest before the pandemic hit, but has failed to recapture that strength since. Midwestern metropolitan areas saw the rate at which home shoppers searched outside their home metros almost consistently decrease since February, other than a small improvement in May. This signals that Midwestern metros are likely still struggling to return to normal, and is consistent with concern for emerging COVID hot-spots in the region and pre-pandemic job market weakness. For more information, read the full report here. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
MORE >
ActivePipe Unveils Real Estate Content
MORE >
AerialSphere Launches Next-Gen Mapping Technology to Change How Consumers Experience Real Estate
XP360 Enables Real Estate Brokerages and Agents to Enhance Their Property Searches and Improve Engagement PHOENIX, Ariz. - August 11, 2020 -- AerialSphere, the industry leader in delivering immersive aerial experiences, today announced the launch of XP360 web application and API, which creates an online home search experience that is transforming the residential real estate market -- enabling agents to better attract and engage clients with the latest in mapping technology. XP360 features a simple, user-friendly interface that empowers brokers and agents to add a new level of interactivity in home searches that goes way beyond traditional aerial views of homes. XP360 gives prospective home buyers the ability to see homes, neighborhoods, schools and other points of interest in a new and engaging way from perspectives never seen before. According to AerialSphere Co-Founder and Chief Innovation Officer DJ Vegh, "AerialSphere powered maps, unlike Google Maps, provide an immersive experience that allows consumers to see maps with dimension, giving them a better perspective of the world we live in, which in turn, helps them make more informed purchase decisions." AerialSphere 360-degree immersive and interactive maps have quickly become a crucial sales tool for over 200 agents in the Phoenix metro area. Agents have leveraged this technology throughout their interactions with clients and potential clients with much success, generating close to a half-million map views in the last year. "Real estate companies, mapmakers, travel and tourism firms can all use XP360 to enhance their applications," said WAV Group Founding Partner Marilyn Wilson. "This is something new," she said, admitting she got "a chill" when she first saw it. "It was like when I saw the first iPhone, I knew it was going to change everything," she added. Vegh also added AerialSphere's mapping technology appeals not just to residential real estate. "It has significant applications for commercial real estate, travel, Insurance, universities, and local government agencies, all who can leverage the amazing benefits of interactive mapping and Immersive Reality from AerialSphere," he says. AerialSphere has seen significant growth over the last year. Leasing real estate firms including CBRE, Cushman & Wakefield and Colliers International have chosen AerialSphere to provide immersive mapping experiences to attract and engage their clients. About AerialSphere AerialSphere is re-inventing the way people interact with maps through its unprecedented 360-degree immersive experience to help companies engage, drive revenue, inform and entertain. AerialSphere's patented platform and open API integrates with virtually any application environment and device to deliver experiences that are more exciting, engaging and effective than traditional digital mapping solutions. AerialSphere is used by organizations in Real Estate, Retail, Travel, Insurance, Government, Entertainment/Events, Education and Technology. Share more than maps. Share experiences. Discover more about AerialSphere at: aerialsphere.com
MORE >
Rental Beast and Liberty Mutual Insurance Partner to Increase Access to Affordable Renter's Insurance
MORE >
iGUIDE Partners with Floorplanner to Make Virtual Space Planning Easier and More Efficient
Kitchener, Canada, August 07, 2020 -- Planitar Inc., makers of the iGUIDE camera and software platform for capturing and delivering immersive 3D virtual tours and extensive property data, today announced their partnership with Floorplanner -- a fully browser-based 2D and 3D space planning tool. With this new partnership in the growing virtual real estate space, iGUIDE users will now be able to export floor plans directly to Floorplanner, to make use of the company's space planning tools without having to input the floor plan manually. "iGUIDE is known for quickly creating detailed and accurate floor plans that are used for planning or marketing a property. This newly added Floorplanner integration takes the utility of iGUIDE to the next level and opens up even more possibilities," said Alexander Likholyot, CEO of Planitar Inc. "We are very excited about offering this value-add to our customers and partners, who will now be able to use their iGUIDE to leap from present into the future by planning and customizing their space and visualizing the results as 3D renders before any physical changes are made." Residential Real estate needs are changing due to social distancing, and understanding or planning a space remotely through virtual tools will now be made possible by iGUIDE's enhanced solution, using Floorplanner. This means home buyers can virtually plan their new home before they move in. Commercial and business property owners with an iGUIDE can also benefit by replanning existing spaces to accommodate the "new norm" more easily. This includes updated seating plans and office furniture layouts to achieve proper physical distancing. Gert-Jan van der Wel, co-founder of Floorplanner.com mentioned, "Floorplanner was created to offer easy 2D and 3D space planning without the hassle of using complex 3D CAD software, to render interactive floor plans that could be virtually staged. With partners like iGUIDE joining our mission, the opportunities it presents are limitless." He further added, "Floorplanner will allow iGUIDE users to plan the placement of furniture, decorations, cabinets, and appliances, as well as, experiment with area rugs, flooring, and wall colors. Easy virtual staging with a wide variety of 3D customizations to present a dream space, would now only be a few clicks away." The new feature has already been tested and is now available for use by all iGUIDE service providers to offer to Real Estate Professionals and will bring more value to the home buying process. About iGUIDE Founded in 2013, in Kitchener, Ontario, Canada, Planitar Inc. is the maker of iGUIDE, a proprietary camera and software platform for connecting people with essential property information. iGUIDE is the most efficient system for mapping interior spaces that features immersive 3D tours, accurate floor plans, room dimensions, and reliable property square footage calculations. By integrating floor plans and visual data, iGUIDE provides an intuitive and practical way to digitally navigate and explore built environments. About Floorplanner Floorplanner was founded in 2007 by 3 architects and a civil engineer who strongly felt that 3D CAD software could be simpler, lighter and more accessible. So, with a small team we created our first version. Floorplanner was the first fully browser-based 2D & 3D planner, and since then over 20 million users worldwide have joined the floorplanner community for work, school, or personal portfolios. Floorplanner is based in Rotterdam (The Netherlands) where we work with a talented team of around 25 people. We are self-funded, profitable, and our revenue has been growing for the last 10 consecutive years. This allows us to continue making deep investments in our platform according to our long-term vision, improving the experience for every Floorplanner user.
MORE >
Urban Land Institute Launches New Online Offering to Make Real Estate Careers More Accessible
MORE >
ReferralExchange Selected to Join NAR's REALTOR Benefits Program
1.4M NAR members can now access special benefits on the ReferralExchange LIVE lead concierge program SAN FRANCISCO -- ReferralExchange, the real estate industry's leading referral network, has been selected as the newest partner in the REALTOR Benefits Program, the official partnership program of the National Association of Realtors (NAR), America's largest trade association. The REALTOR Benefits Program connects members with savings and unique offers from more than 30 strategic partners, recognized as leaders in their respective industries. Participation in the Program provides an unmatched opportunity for NAR's strategic partners to connect with the $5 billion REALTOR® brand and deliver value to 1.4 million REALTORS nationwide. "Today, real estate agents obtain leads from more places than ever before, but market inefficiencies too often lead our members in the wrong direction – costing valuable time and resources," said NAR CEO Bob Goldberg. "We are excited to announce a partnership with ReferralExchange, which will allow agents to focus more time serving clients and building the relationships necessary to drive their businesses while ensuring they are maximizing lead verification investments." LIVE by ReferralExchange consists of three simple steps that allow agents to turn leads into actionable transactions. Lead verification: ReferralExchange uses proprietary technology to quickly figure out which of an agent's raw leads are real and which are not. Lead readiness: ReferralExchange's licensed customer service team calls the agent's leads and uses a proven system that verifies data and determines the potential client's readiness to transact. A live transfer sends the lead directly back to the agent via phone. Lead transaction: Once a lead has been verified as real and ready to transact, the agent may decide whether or not to complete the deal themselves "From the time our company was founded in 2006, we've valued the role that NAR has played in making our industry better for both real estate agents and consumers," said Scott Olsen, CEO of ReferralExchange. "Since the majority of the 140,000 real estate agents in our broader agent network are already REALTORS®, we're excited to officially offer our LIVE service through NAR's REALTOR Benefits® Program." More specifically, LIVE is currently in use by over 16,000 real estate agents across the country for referral and lead concierge services. "ReferralExchange scrubs the leads and makes sure the person is ready to talk, which is huge," said Kathie Fitzpatrick, a broker with Keller Williams Yakima Valley in Yakima, Washington. "The LIVE service also makes me look more professional in the eyes of the consumer due to the simple fact that someone is calling prior to me reaching out in order to qualify them and determine their readiness to transact." About ReferralExchange ReferralExchange, the nation's top agent-to-agent real estate referral company, is dedicated to creating great real estate experiences between real estate professionals and customers. Founded in 2005, ReferralExchange has built an invite-only, nationwide network of over 140,000 top-performing real estate agents in the US and Canada. In 2018, the network helped generate over $4 billion in sales. Building on the success of its referral network, the LIVE product was introduced to help real estate agents provide the best possible service to their clients. To learn more, visit www.referralexchange.com. About NAR The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries. The Realtor Benefits® Program is the association's official member benefits program, connecting members with savings and unique offers on products and services just for Realtors® from more than 30 companies recognized as leaders in their respective industries. www.nar.realtor
MORE >
COVID-19 Impacts Homebuyer Preferences But Not Budgets: Homes.com Survey
MORE >
Remote Work to Drive Home Purchase Decisions in the Next Six Months
More than half of those currently working from home are doing so because of COVID SANTA CLARA, Calif., July 29, 2020 -- Many families quickly adjusted their current living space to accommodate working from home, but those who expect the change to be permanent are likely to pull the trigger on a new home purchase in the next six months, according to a realtor.com® HarrisX survey of active home shoppers released today. Of the 2,000 home shoppers surveyed in June who plan to purchase a home in the next year, 63 percent of those currently working from home indicated their decision to buy a new house was a result of their ability to work remotely. Nearly 40 percent of those who said remote work was fueling their search expected to purchase a home within four to six months, and 13 percent said changes related to COVID prompted their desire to purchase a new home. Having a home office is very important for people who work remotely, but not at the exclusion of more conventional features. Over 20 percent of respondents who are buying because of remote work say that having a home office is important to them and a home office was the most chosen new home feature. Similar to overall home buyers, the five next most popular features were a garage, a quiet location, an updated kitchen, a large backyard, and an open floor plan. "The ability to work remotely is expanding home shoppers' geographic options and driving their motivation to buy, even if it means a longer commute, at least in the short term," said realtor.com® Senior Economist George Ratiu. "Although it's too early to tell what long-term impact the COVID-era of remote work will have on housing, it's clear that the pandemic is shaping how people live and work under the same roof." Today's remote work snapshot According to the data, nearly 40 percent of currently employed respondents are currently working from home as a result of COVID. Thirty-five percent of respondents were remote employees before COVID happened and 28 percent are still going into their place of employment. When given the choice of working remotely or in an office setting 52 percent of remote workers indicated they prefer to work from home. Interestingly, 39 percent prefer to work in an office setting and 9 percent said it makes no difference to them. Accommodating remote work at home With entire families at home, finding a quiet place for work or school has been challenging for many. Fifty percent of respondents do the majority of their work in a home office. Fifteen percent work in their bedroom, 13 percent in the living room, 12 percent at the kitchen table and 7 percent move from room to room depending on where their family is. In order to accommodate work from home, 45 percent of respondents converted a room in their home to an office. Thirty-six percent created a home office space and 28 percent updated their existing office space with a new monitor, chair, etc. Only 7 percent have not made any accommodations or already had a good office set up at home. Majority of respondents anticipate some aspect of remote work in the future With many companies and schools pushing back return dates, especially as new COVID outbreaks continue to increase across certain regions of the country, 53 percent anticipated that they will be working in an office full-time. Approximately one in five, 22 percent, of those surveyed expect a mix of in-office and remote work, while 14 percent responded they don't anticipate ever returning to the office. Flexibility also seemed an option among survey respondents, with 63 percent indicating that their employer will be open to remote work in some capacity. Of these respondents, 40 percent stated that their employer permitted a mix of office and remote work and 16 percent said their employer permitted remote work entirely. Only 37 percent indicated they are required to be in the office full time. Of those stating that they will resume going into the office either full or part time, 40 percent anticipated it would be within the next three months, while 46 percent thought it would be within the next three to six months. Thirteen percent thought they would return in 2021 and 2 percent said never. For more information about realtor.com's remote work survey, please click here. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
MORE >
W+R Studios announces results of inaugural '2020 Survey of Best Practices for CMAs and Listing Presentations'
MORE >
Nationwide Surge in June Home Buyer Activity Continues Historic Turnaround, with Agents Seeing a 50 Percent Increase in Showings per Listing
Buyer Demand Jumps in all Regions for the Second Consecutive Month July 27, 2020 - Home buyers were out in droves nationwide in June resulting in the second consecutive month of surging home showing activity, with agents seeing 50 percent more showings per listing according to data from the ShowingTime Showing Index. June's 50.1 percent year-over-year jump in nationwide buyer traffic resembled that typically seen in the spring, as agents and buyers made up for pandemic-induced lost time by continuing to leverage historically low mortgage rates and newly available virtual showing technology. Since May, ShowingTime has facilitated more than 52,000 home showings hosted virtually, a number expected to grow throughout the summer. "In June, we saw the full effect of the rebound in the intensity of buyer traffic in the US," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “The Showing Index tracks the average number of showings per listing, and while the absolute number of showings increased between 13 percent and 15 percent, a substantial increase, the number of showable listings decreased by 23 percent. Thus, the average listing is receiving 50 percent more appointments, concentrated in the first two weeks of the listing's market time. This unprecedented surge is amplified by the increasing shift of soft interactions between market participants to technology tools, leading to greater efficiency, shorter turnaround times and a larger number of appointments scheduled." The Northeast saw the largest jump in year over year showing activity, with a 66.9 percent increase in June. The West Region's 48 percent boost came next, followed by an increase in the Midwest of 40.2 percent and in the South of 39.6 percent. In June, ShowingTime LIVE Video, which enables agents and their buyers to use the ShowingTime mobile app to take part in live, interactive video showings, continued to expand into markets across North America. Since it was first made available in select markets in May, ShowingTime LIVE Video has become a popular option for agents to conduct virtual showings for buyers, who participate from the comfort of their own homes. "We're pleased to continue helping agents meet pent-up client demand with innovations designed to keep showings going, safely and efficiently," said ShowingTime President Michael Lane. "The feedback we've received so far for ShowingTime LIVE Video has been very positive. We're looking forward to expanding its availability in markets throughout North America in the weeks and months to come." The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, providing a benchmark to track buyer demand. ShowingTime facilitates more than five million showings each month. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Local MLS indices are also available for select markets and are distributed to MLS and association leadership. To view the full report, visit showingtime.com/showingtime-showing-index/. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers, agents and other real estate companies, as well as a recruiting tool for brokers. ShowingTime products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
MORE >
Realtor.com Now Gives You Options to Sell Your Home, Your Way
MORE >
Homebuying 2020: Buyers Intent on Finding a Three-Bedroom, Two-Bath House with a Garage and Remodeled Kitchen
Post COVID they are willing to pay more and commute longer distances to get it, survey finds SANTA CLARA, Calif., July 22, 2020 -- At a time when things seem to be changing more rapidly than ever before, a realtor.com® HarrisX survey of active home shoppers released today shows that homebuyers are largely looking for the same characteristics in a new home, before and after COVID. However, after months of quarantine and economic uncertainty, many are shifting the ways they approach the buying process. To identify what's changed and what hasn't, realtor.com® compared the results of its most recent survey conducted in June to a similar survey of prospective buyers in March. Both surveys polled 2,000 people looking to purchase a home within the next 12 months. "The COVID pandemic has disrupted nearly every aspect of American life. How we live and work has changed dramatically, unemployment went from record lows to historic highs in weeks and the U.S. economy is in a recession following the longest expansion in history," said realtor.com® Senior Economist, George Ratiu. "While the health and economic impact has been significant, the U.S. housing market has remained surprisingly resilient, and consumers continue to view home ownership as the foundation of the American Dream. Home buyers remain steadfast in the main attributes they seek--three bedrooms, two bathrooms and a garage. However, the quarantine has made people rethink where and why they want a new home." Post-COVID Findings The global pandemic has sent shockwaves through the U.S. economy, but housing has shown resilience and that can be seen in the survey results. According to the data, over one-third of homebuyers are more optimistic about buying a home after COVID. Additionally, despite record high unemployment levels COVID has offered a few silver linings for homebuyers -- nearly two-thirds believe shelter-in-place orders have helped them save money. Additionally, as the Federal Reserve continues to move with caution on historically low interest rates, and bond investors remain concerned about the recovery outlook, many home buyers are seeing lower mortgage rates. Among them, three-quarters say it is impacting their home search, most often helping them look for larger homes, in nicer neighborhoods. Equal shares are using lower mortgage rates to stretch their budget to get into a more expensive home, or pocket the savings by decreasing their monthly mortgage budget. In addition, home shoppers are willing to live farther away from their workplaces to find the right house, with 9 percent of respondents to the summer survey indicating they would be willing to commute over an hour, compared with the 3 percent who chose the same response in the spring. Spring vs. summer -- three bedrooms, two baths, up-to-date kitchen and garage reign supreme Price range, number of bedrooms and bathrooms, as well as most desirable home features haven't changed in buyers' minds. In fact, both surveys found that the vast majority of buyers -- 65 percent -- are shopping for homes priced under $350,000. The national median priced home in the U.S. was $342,000 in June. Additionally, garages continued to reign supreme as the most important feature for buyers in both the early spring and summer surveys. A renovated kitchen and large backyard space ranked in the top five features people want in both surveys. Interestingly, despite the stay at home orders, a large backyard ranked fairly consistent in both surveys, only gaining a 1 percent increase from 20 percent in the spring survey to 21 percent in the summer survey. Post-COVID shoppers are willing to pay more, commute longer and want move-in ready But the buying process has been impacted by the pandemic, especially buyer timelines, desired condition of the property, as well as how far buyers are willing to go financially. According to the June 2020 survey, 41 percent of buyers said they are looking to buy sooner because of COVID, 44 percent said it had no impact, and 15 percent said they have slowed their purchase timeline. Additionally, 84 percent of summer buyers are looking for a move-in-ready home, up 10 percent from 74 percent in March. At the same time, the current economic uncertainty is translating into a lower intention to compete financially among home buyers compared to this spring. After COVID, 6 percent fewer home shoppers report planning to put down a larger earnest money deposit, 6 percent fewer plan to offer above asking price, 6 percent fewer plan to offer all cash, 7 percent fewer will forgo a financing contingency, and 3 percent fewer home shoppers plan to put down more than a 20 percent down payment Additionally, while 38 percent of shoppers have increased their target price range since starting their home search, 25 percent of shoppers are looking for a lower priced home because they want to have more savings just in case (47 percent), are worried about financial security (37 percent), are concerned over general economic conditions (37 percent) or their income has decreased (26 percent). For more information about the realtor.com® home buying surveys, please visit here. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com. About HarrisX HarrisX is a leading opinion research company that specializes in online polling, mixed-mode polling, and data analytics. The company has a thirteen-year history assessing public opinion and behavior in the telecom, media, and technology industries through syndicated and custom research services. HarrisX runs the Mobile Insights and Total Communication Surveys, the largest syndicated consumer insights trackers in the United States for the TMT space, which include over 60,000 monthly respondents; the Telephia (beta) metering application, which captures behavioral data; and HarrisX Overnight Poll, which delivers results of general population and voter surveys within 24 hours, looking at Americans' opinions on society, politics, technology, and the economy. For more information, visit: www.harrisx.com.
MORE >
Cherre and Rental Beast Announce Partnership to Integrate National Rental Listings into Real Estate Data Platform
MORE >
NAR, NAHB Partner to Educate Consumers, Members on Home Performance, Sustainability
CHICAGO (July 14, 2020) -- The National Association of Realtors and the National Association of Home Builders launched a new joint initiative, Home Performance Counts, designed to help consumers better understand the rapidly growing high-performance home marketplace – homes that prioritize comfort, durability, wellness and affordability. Demand for such housing has expanded over recent years, with the number of homes certified to the National Green Building Standard increasing by more than 57% since 2017. "With today's homebuyers looking for healthier, more efficient homes, America's 1.4 million Realtors® are proud to join forces with the National Association of Home Builders to build rapport and highlight the benefits of home performance to U.S. consumers," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. "Clients come to our members looking for the very best homes they can afford, and with green building practices often leading to homes that are more durable and require less maintenance, NAR is excited to strengthen our partnership with NAHB to help more Americans find the high performing, efficient home of their dreams." Through their joint Home Performance Counts initiative, NAR and NAHB have come together to offer a comprehensive resource that educates consumers on the qualities and benefits of high-performance homes and facilitates communication on home performance between buyers, builders and real estate agents. As these practices continue to evolve, NAR and NAHB will provide regular updates and new resources that examine the most recent market trends and sustainability research. "Home Performance Counts provides a common ground for our two organizations to work together to raise awareness of the benefits of green homes and the key role home builders and real estate agents can play in the home-buying process to ensure buyers get the high performance home of their dreams," said NAHB Chairman Chuck Fowke, a custom home builder from Tampa, Fla. "Builders and Realtors® will also benefit from using a common language and having access to the latest trend data and information." Home Performance Counts is an educational initiative developed jointly by NAR and NAHB to position their respective members for success in the expanding marketplace for high performance homes. For more information, visit HomePerformanceCounts.info. The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 700 state and local home builders associations around the country. NAHB's builder members will construct about 80% of the new housing units projected for this year. The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
MORE >
DocuSign Continues Agreement Cloud Expansion with Liveoak Technologies Acquisition
MORE >
Planitar Adds Free Feature to Help Agents Conduct Virtual Showings
Kitchener, Canada, July 8, 2020 -- Planitar, the Canadian real estate tech company behind the iGUIDE, announced today that it released a free feature to help those buying and selling homes stay safe in light of the COVID-19 pandemic. The company's iGUIDE technology already creates 3D tours of homes that buyers can tour virtually, without the risk of spreading germs. This new update will allow agents to guide home buyers through the tour together as if they were conducting an in-person tour. This screen-sharing technology showcases the virtual tour smoothly, so there's no interruptions or confusion over which feature participants are discussing. Home buyers will no longer have to choose between having the expert guidance of their agent and following safety protocols. Planitar's VP of Sales and Marketing, Michael Vervena, says that, "For a Realtor, showing a property means communicating the best and most relevant information about that property to prospective buyers. iGUIDE Virtual Showing empowers Realtors to do that online. It connects people with the information they are looking for while maintaining the role and value of the Realtor to give guidance and advice." Real estate agents can host the tour and invite their clients through text, email, or social media. They can then guide the tour and talk to their client through a compatible voice client such as Zoom, Facebook, Gotomeeting or Google Meet. Planitar says that while the technology has obvious application for the COVID-19 pandemic, it has other uses as well. With this guided virtual tour, those who can't easily visit the homes they intend to purchase in-person can experience the home as if they are in it, with their real estate agent, before they make their final decision. About Planitar Founded in 2013, in Kitchener, Ontario, Canada, Planitar Inc. is the maker of iGUIDE, a proprietary camera and software platform for capturing and delivering immersive 3D virtual tours and extensive property data. iGUIDE is the most efficient system to map interior spaces and features accurate floor plans, measurements, and reliable property square footage. By integrating floor plans and visual data, iGUIDE provides an intuitive and practical way to navigate and explore built environments digitally.
MORE >
Realtor.com Weekly Recovery Report: Record Breaking Traffic Signals Summer Buying Season is Here
MORE >
ATTOM Data Solutions Acquires Home Junction, Continuing the Company's Data and Application Expansion
Acquired Data Elements Include Proprietary School Attendance Area Boundaries, Neighborhood Boundaries and Additional Datasets; Acquisition Further Solidifies ATTOM's Position as The One-Stop Shop for Comprehensive Property Data IRVINE, Calif. - July 8, 2020 -- ATTOM Data Solutions, curator of the nation's premier property database, today announced it has acquired Home Junction Inc., a real estate data technology company that specializes in building high quality geographic boundary datasets for neighborhoods, school attendance zones, subdivisions and more. "ATTOM's mission is to increase real estate transparency in America, and expanding our geospatial capabilities and datasets is core to that mission," said Rob Barber, CEO at ATTOM Data Solutions. "This acquisition extends ATTOM's data footprint and will enhance our value proposition for our customers, while integrating a talented team from Home Junction to an already talented team at ATTOM. While data elements are important, people elements are even more important. This is an important acquisition because it is an investment in both data and people." The strategic acquisition of Home Junction will expand ATTOM's already robust data warehouse by adding proprietary school and neighborhood boundary data, crime, points of interest and demographics. ATTOM will continue Home Junction's commitment of servicing real estate agents, teams and brokers with a suite of products that include custom websites and data widgets. Click here to view ATTOM's Table of Data Elements "Our focus at Home Junction has always been creating and unifying geospatial property datasets," said John Perkins, CEO and Founder of Home Junction. "By joining forces and having common goals, we are confident that ATTOM will continue to increase efficiencies in the marketplace and continue to be a custom solutions provider for businesses ranging from startup to seasoned enterprise." Founded over 10 years ago, Home Junction's goal is to provide brokers, agents, teams, lenders, insurers and others with the ability to integrate vast amounts of property data into their internal and external web applications. The synergy of the two companies will strengthen ATTOM's competitive positioning in the enterprise data licensing marketplace and the consumer & investor real estate search market. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS). About Home Junction Inc. Based in San Diego, CA, Home Junction is a data technology company that specializes in real estate data and boundary licensing, custom websites created with WordPress real estate themes, WordPress real estate plugins and additional services. The company provides an extensive number of data layers on home sales, neighborhoods, schools, school attendance zones, demographics, home value estimates, geospatial boundaries, and other information. The founders have more than 50 years' experience combined in data aggregation and real estate website development.
MORE >
Chime Technologies and Dippidi Partner to Help Real Estate Teams Attract and Convert Leads
MORE >
Delta Media Group Launches SMS Texting in DeltaNET 6
CANTON, Ohio -- Michael Minard, CEO and Owner of Delta Media Group, announced today his company's recent launch of SMS Texting in DeltaNET 6. "We're thrilled to introduce SMS texting found in DeltaNET 6 to the forefront of the real estate industry," says Minard. "Our Tech Team outdid itself with the deep integration of texting capabilities throughout the entire DeltaNET 6 platform." DeltaNET 6 allows real estate professionals to use direct text messaging SMS blast messaging, and SMS message with email campaigns to share their expertise with clients and build long-lasting relationships. Franklin Stoffer, Senior Key Accounts Consultant and Sales Manager for Delta Media Group, comments, "Research has shown that emails have a 6% open rate on average. Text messages, on the other hand, have a reported 98% open rate. The data shows that more than 90% of all text messages are read within three minutes of receiving the message." Stoffer continues, "Our clients will now have a reliable and direct channel to communicate to their clients with relevant content, new listing information, and more. Picture this scenario, you are running a virtual open house through Facebook on a Saturday afternoon. You go to your CRM and create a bulk text message to send to all of your active buyers with a link directly to your virtual open house. Within minutes you could have dozens of active clients watching you tour a house through Facebook. There are so many unique ways to take advantage of these tools." To find out more about incorporating SMS texting into your marketing plans, contact Franklin Stoffer. About Delta Media Group Delta Media Group, located in Canton, Ohio, is the creator of DeltaNET 6, the real estate industry's most advanced all-in-one technology platform. Delta Media Group is 100% family-owned and operated with no outside investors and no VC funding. As a leading technology provider to the top U.S. real estate companies, Delta provides clients with both form and function in DeltaNET 6, saving them money and reducing the frustration of managing multiple online relationships. When you work with Delta Media Group, you're getting a technology partner that you can trust rather than merely a tech vendor.
MORE >
IXACT Contact Announces New Set of Leading-Edge Agent Website Designs
MORE >
Amidst Health, Safety Concerns, NAR's 2020 REALTORS Conference and Expo Goes Virtual
Online format dramatically expands member participation opportunities for November conference CHICAGO (June 24, 2020) -- The National Association of Realtors announced Wednesday that the 2020 REALTORS® Conference & Expo, previously scheduled from November 13-16 in New Orleans, will be transitioned to a fully virtual format in light of ongoing health and safety concerns stemming from the COVID-19 pandemic. NAR completed the first-ever virtual iteration of its Legislative Meetings from May 12-14, where 28,000 participating Realtors® nearly tripled the annual conference's average attendance. "Uncertainty has in many ways defined 2020. While positive indicators begin to show our economy is rebounding and treatment options for COVID-19 are proving more effective, so much remains unknown about this virus and the circumstances we will face as a nation come this fall," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. "In order to prioritize the health and safety of our members, staff and sponsors, NAR looks forward to hosting a fully virtual REALTORS® Conference & Expo this November. "Coming off the success and record-breaking participation of our Legislative Meetings, we're confident that this format will ensure the widest reach possible, providing more accessible and affordable participation opportunities for all of our 1.4 million Realtor® members." Late last month NAR's research group conducted multiple surveys to gauge member and association staff's willingness to attend an in-person conference this November. More than two thirds, or 67%, of members emerged as "net detractors" when asked about their willingness to travel to New Orleans. In the survey, which was sent via email to 55,223 NAR members and generated 4,135 unique responses, these detractors noted lingering safety concerns when traveling, their expectation to still be avoiding crowds in November, and the unlikelihood of a vaccine being available by that time. "While maintaining our primary focus on the safety and wellbeing of our members, NAR has used the circumstances surrounding this pandemic to consider how we can evolve and better prepare for the markets of the future," said NAR CEO Bob Goldberg. "Decades of investments in technology and a commitment to organizational growth allowed NAR to execute an overwhelmingly effective and fully virtual legislative conference in May, and we're excited to build on that experience to provide an even more productive and engaging virtual Conference & Expo this November." NAR will announce more details, including registration information, in the coming weeks. The virtual format will allow NAR's full organizational governance processes to proceed as normal during the conference, which will also include relevant speakers, energizing live-streamed content, networking opportunities and an industry expo. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
MORE >
Homesnap Launches Access, a New Payment Service Powered by eCommission
MORE >
High Volume Render Editor Disrupting the Property Development Market
MAROOCHYDORE, QLD, Australia (June 22, 2020) -- Australian-based proptech company BoxBrownie.com are turning their globally successful real estate photo editing business model to the property development industry, in an attempt to turn the traditional render industry on its head. They believe the provision of renders with a high volume, low cost, high quality, and quick turnaround combination has been missing in the market. "When 3D renders first appeared on the developer scene, they were applauded as the ultimate way to showcase a property and sell off the plan," explained BoxBrownie.com cofounder Mel Myers. "For a long time, they've been lauded as a specialist output. Each render costs a lot of money, with long production times, but they do look like works of art." BoxBrownie.com has revolutionised residential and commercial real estate marketing with over 75,000 customers in 82 countries, offering photo editing services from $1.60 and Virtual Staging and Virtual Renovations from $24. The company uses a global team of editing experts, dedicated quality control teams, and 24/7 customer service to ensure 100% satisfaction on images. The no subscription pay-as-you-go format has also been popular with customers. "We have made photo editing accessible, affordable, easy and quick for real estate professionals. We've beaten the triple constraint and we are about to do the same for property development," stated Myers. "We thought why can't the render industry too have the iron triangle of Good, Cheap, and Fast. "After working closely with our international team of 3D experts, we can produce A-grade internal and external renders from US$280, slashing costs of the existing average $400-$1000 price for this product. The quality will impress any development marketing executive, or more importantly, the most fastidious of potential buyers. And of course, the company's accountant is going to be very happy." As recent times have indicated, buyers being able to view a property from home, or anywhere, has become incredibly important. 360° Render Virtual Tours are an interactive property marketing tool to showcase development to buyers prior to construction. BoxBrownie.com have realised this and have a strong focus on 360° Virtual Tour production within the company's offering for both existing residential properties and rendered displays. They can produce 360° renders for US$400 and offer free 360° Virtual Tour creation and link hosting. Examples of BoxBrownie.com renders and 360° Virtual Tours can be found on their website.
MORE >
Kristi Kennelly Joins RateMyAgent
MORE >
Live Open Houses Are Now Available on Homesnap for iOS and Android
Agents can now promote live virtual open houses on the Homesnap platform on iOS and Android. Why is this important? Even as states rescind stay-at-home guidelines and the real estate market eases back to normalcy, plenty of would-be homebuyers are still reluctant to visit a property in person. Open houses have yet to see the same level of attendance they have in years past, and, by most industry expert predictions, won't for some time. Agents who neglect to cater to these prospective buyers risk missing out on potential clients and revenue. How Homesnap Live Open Houses work Using the Homesnap platform, you can create video tours of a property and schedule and host open houses virtually, much in the same way you would an in-person one. The only difference? You'll enter a URL in the "Open House Live Stream URL" field within the Open House menu of your listing. Once complete, scheduled virtual open houses will appear as a purple-colored pin within Homesnap's map view, and property card banners, as shown on the right side of the below photo, will display the date and time of the virtual open house (again, in purple). When a virtual open house goes live, the purple pin will animate and the property card banner will display a "Live Now" message, inviting prospective homebuyers currently searching the Homesnap platform to join your presentation. Pretty easy, right? A final note Virtual open houses and in-person open houses should not be viewed as mutually exclusive. Many prospective homebuyers are ready to visit a property in-person. Others are not. So, to attract the widest possible prospect pool, you should strive to host both versions. Fortunately, with Homesnap, that's easier than ever. To view the original post, visit the Homesnap blog.
MORE >
Live Video Showings: The Next Best Thing to Being There
MORE >
Realtor.com Launches Weekly Housing Recovery Index
Data shows housing recovery remains strong despite social unrest SANTA CLARA, Calif., June 11, 2020 -- COVID-19 and economic headwinds have led to unprecedented disruptions in the U.S. real estate market. In order to track the impact of these events, realtor.com today announced the launch of its Housing Recovery Index, which shows that despite continued COVID cases and the large scale protests that took place the week ending June 6 -- the U.S. housing market continues to recover even in cities experiencing civil unrest. The proprietary index leverages a weighted average of realtor.com® search traffic, median list prices, new listings, and median time on market and compares it to the January 2020 market trend, as a baseline for pre-COVID market growth. The overall index is set to 100 in this baseline period. The higher a market's index value, the higher its recovery and vice versa. For the week ending June 6, the realtor.com® Housing Market Recovery Index was 88.8 nationwide, 11.2 points below the January baseline and up 1.0 point over the prior week. The slight increase in this week's overall index represents a 5.7 point increase over the 83.1 low point in the index, which occurred during week ending May 2. "By combining online search activity along with price and supply dynamics, the index functions as a robust leading indicator of housing activity, and a symptom gauge as we move toward healthier market conditions," Javier Vivas, director of economic research for realtor.com®. This week's index reading also reveals the recovery trend was not impacted in the 11 markets that saw the largest number of protests the week ending June 6. On average, these markets saw their recovery index increase 0.7 points over the prior week, ending May 30. When compared to other similar sized markets with reportedly less civil unrest, there was no evidence that the protests had an impact on housing recovery. Of the 11 markets, 6 areas saw slight increases in their weekly recovery index: Atlanta (+1.5 points) Chicago (+4.7 points) Cleveland (+3.3 points) Los Angeles (+0.2 points) Minneapolis (+0.3 points) New York (+4.9 points) Five saw a slight decrease in their weekly recovery index: Dallas (-2.0 points) Louisville, Ky (-2.1 points) Raleigh (-0.7 points) St. Louis (-0.9 points) Washington, D.C. (-1.1 points). Key Housing Metrics for the Week Ending June 6:   "The general sentiment from consumer surveys is that now is not a good time to sell a home because of COVID, economic uncertainty, and social unrest, but the data is saying the opposite," said Danielle Hale, chief economist for realtor.com. "Home prices are back to their pre-COVID pace and we're seeing listings spend slightly less time on the market than last week. But the housing market still needs more sellers in order to meet the surge in demand. Looking forward, if we don't get the inventory we need, we'll see prices rise even more and homes sell faster later this summer." New listings: Nationwide, the size of declines held mostly steady this week, dropping 21 percent over last year, which is a slight improvement over last week and a significant improvement when compared to early May's 30 percent declines year-over-year. This week's index shows new listings are 12.7 points below their January recovery baseline. Sellers have started June on the right foot, and the following weeks will indicate whether there will be enough supply to boost home sales this summer, nationwide and in all large markets. The continued declines in newly listed properties mean the full wave of spring sellers has yet to return to the market. However, recovery could be on the horizon as more than half (56 of 99) of large metros continue to see smaller declines this week, including New York, Boston and San Francisco. Asking prices: Price gains fully caught up to pre-COVID pace increasing 4.3 percent in the week ending June 6, compared to 4.4 percent the first two weeks of March. This week's index shows home prices are 0.7 points above the January recovery baseline. The mix of homes for-sale has reverted back toward pricier properties, and demand for entry-level properties has been reignited. Price gains have accelerated rapidly in recent weeks with inventory on the decline and buyer interest on the rise. Locally, 89 of 100 metros saw asking prices increase over last year. Total Active Listings: Sellers are still playing catch up during what's normally the busiest part of the season, and the availability of homes for sale remains well below seasonal levels. Total active listings declined 25 percent compared to a year ago as the lack of sellers is currently outweighing the extra time homes spend on the market. Signs, such as improved home purchase sentiment over last month, are pointing to rising home buyer interest and seller confidence, setting up a pick-up in sales activity in the summer months. Time on market: While homes are still sitting more than two weeks longer on the market than this time last year, this week's data shows the trend may be reverting back toward recovery. The week ending June 6 saw the first weekly decline in time on market since mid-March, with days on market one day faster than last week. It could still take a few more weeks for time on market to reach pre-COVID levels, since the pace of sales component of the recovery index remains 30.1 points below the January recovery baseline, but this week's data shows the first, important step toward recovery. For more information about the index report, please visit: https://www.realtor.com/research/housing-market-recovery-index/ For the latest weekly housing trends and index data, please visit: Index Housing trends About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
MORE >
Homesnap Launches Homesnap Concierge
MORE >
Homes.com Launches New Agent Profile Page
Homes.com is excited to announce the launch of a new Agent Profile page that will help improve the user experience and provide agents with the opportunity to share additional information about themselves and their business. Agent profile pages are available through the "Find an Agent" search or from any agent link. The contact form on the new profile is a sticky contact form, ensuring it is always in view, which should increase agent lead conversions. Below are some key updates that have been made. Agent Skills Section The expanded skills section on your Homes.com profile is your place to stand out from the competition and highlight the talents you bring to the table. Are you bilingual? Have you earned a prestigious award? Or maybe you are really great at negotiations. Whatever the talent or accomplishment, the agent skills section is the place to showcase your value proposition to buyers and sellers in your area. Endorsements Client testimonials are the very essence of your online reputation. The endorsement tool allows you to invite past clients to leave a review and keeps you in control of the process by requiring your approval before it displays on Homes.com. Improved Lead Capture Form Once a buyer decides to contact an agent, it is vital that a lead capture form and call to action are readily available. Your profile's contact form is always on screen and has an updated call to action to make it easy for buyers and sellers to get in touch with you. We have also added or moved additional information: Agent "Headline" Sticky Contact Form Agent Bio Prominent Social Media links Endorsements Endorsements will import our former "Testimonials" and the newer "Endorsements" and consolidate them into one field. Endorsements will continue to be submitted through Homes.com Connect, and future enhancements may allow Homes.com portal submissions. Now, more than ever, it is important for agents to build their online brand presence and increase their exposure on Homes.com. With these Agent Profile enhancements, agents will be able to really sell themselves and tell the 82% of buyers on Homes.com who are not working with a real estate professional, why they should work with them. These changes are just the beginning. Now is your chance to be one of the early adopters and benefit from the increased traffic and engagement with an agent profile on Homes.com. Contact [email protected] if you are interested in setting up a training webinar to help your membership learn about these new features, as well as tips on how to utilize the new virtual tour and virtual open house options which you can add to your listings on Homes.com for free. To view the original post, visit the Homes.com blog.
MORE >
Key Housing Indicators Begin to Turn Around in May
MORE >
Homes.com Traffic Trends Point to Emerging Recovery
A mere five months after the world was introduced to COVID-19, the impact has already left a permanent mark on each of us. Historical viewpoints describing this unusual period will be formed based on the stories currently being recorded and archived for future generations. While the historical impact will be measured over years, the economic impact is being felt in real time. Unprecedented business shutdowns and historic job losses have interrupted economic activity across nearly every industry. Some will recover more quickly than others. Fortunately we are already seeing signs of housing demand being unleashed and an early recovery emerging. The three traffic metrics we monitor most closely at Homes.com are site visits, engagement, and requests for information. The first variable, site visits, is the equivalent of customers walking through our door, while engagement measures their activity on the site, including page views. Strong metrics in these first two categories typically result in increased requests for information, driving business to our broker and agent advertising partners. During the peak of stay-at-home orders, weekly visits to Homes.com declined by as much as 35%, measured against the weeks leading up to the outbreak. This is a significant decline, especially during the time of year when housing demand typically picks up for the spring and summer. Thankfully, the bounce back seems to have occurred as quickly as the decline. Accurately measuring pent up demand is an inexact science, but it appears to be accelerating an emerging recovery. The following analysis shows the decline and recovery of Homes.com traffic measured against the "Pre-Pandemic Phase" from February 3rd through March 8th, the 5-week period leading up to widespread stay-at-home orders. Interestingly, while the number of customers walking through our doors at Homes.com declined by nearly a quarter during the Outbreak Phase, site engagement remained fairly high, dropping by only 4%, as requests for information, a measure of intent to buy in the near term, fell by 13%. This early trend of steady site engagement proved to be a strong indicator of pent up demand. As traffic returned during the Recovery Phase, and is now flat with the Pre-Pandemic level, engagement has soared by 15%, and intent to buy in the near term is back to slightly above Pre-Pandemic levels. Also encouraging, first time mortgage applications are up 9% year over year, after being down 35% just six weeks ago. During conventional economic cycles, pent up demand builds during a recession alongside high savings rates. Once confidence returns and a recovery starts, pent up demand is released and consumers spend more. While this is certainly not a conventional cycle, these Homes.com metrics are a strong indication that pent up demand is driving a recovery of housing activity: a positive sign we are heading towards a promising summer season for the real estate industry. To view the original post, visit the Homes.com blog.
MORE >
SentriLock to Provide Showing Service for REALTORS
MORE >
Sixty-Five Percent of Those Who Attended an Open House Within the Last Year Would Do So Now Without Hesitation
WASHINGTON (June 1, 2020) -- A majority of people -- 65% -- who attended an open house within the last year would do so now without hesitation, according to survey data released by the National Association of Realtors®. The series of surveys, which explored how home buyers and sellers want to safely handle home sales transactions during the coronavirus pandemic, were conducted by the research firm Engagious for NAR as the association kicks off National Homeownership Month. "The real estate industry – and our country – has endured some very challenging times for several months, but we're seeing signs of progress and we are earnestly hoping the worst is behind us," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. "While we celebrate Homeownership month, we embrace today's version of homeownership and the unique paths homeowners take to realize their dream. For prospective buyers, the desire to own a home remains strong and the guidance, expertise and professionalism Realtors® provide is more important now than ever." The series of biweekly national surveys collected information on consumer attitudes about working with real estate professionals during the coronavirus pandemic. Several survey highlights include: Approximately half of buyers (47%) and sellers (53%) said that during the current pandemic, relying upon a real estate professional when searching for or selling a home is much more important than before. A majority of buyers (54%) and sellers (62%) said that particularly during the pandemic, a real estate agent's guidance is especially valued. Almost 6 in 10 buyers and sellers – 59% and 58%, respectively – believed that buying and selling real estate is an essential service. About half of buyers – 51% – said an agent can help buyers glean more valuable information from online listings than buyers could uncover on their own. More than half of buyers – 56% – believed an agent can save a buyer the time and stress of weeding through online listings. View the survey report here. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
MORE >
Homesnap Launches Real Estate Websites for Homesnap Pro+ Users
MORE >
New Virtual Tours on Homes.com
Real estate has always been a very face-to-face industry. However, right now the necessity of physical distancing makes taking a "business as usual" approach with your clients impractical and perhaps even unsafe. That's not to say you should let months or years of hard work building business momentum go to waste. Now is the time to shift and find new ways to move your business forward and connect with clients from afar. To help make this shift easier, Homes.com has added more "virtual" options and opportunities for buyers and sellers to connect with local real estate agents. Homes.com currently hosts over 600,000 listings with virtual tours, and now we've made finding these homes even easier by adding a toggle that allows home searchers to sort listings that have virtual tours first. Virtual tours are also more visible in their new location as the first image on each listing. Adding Virtual Tours If one of our 600+ MLS partners, national franchise networks, or top virtual tour providers is not sending your virtual tours to Homes.com, you can now add a virtual tour through your Homes.com Connect dashboard. To learn more about adding virtual tours, click here. Adding a virtual tour can be as easy as selecting a video hosted on YouTube, Google Drive, or a link from a virtual tour company. Request a Video Tour We've also added a new "Request a Video Tour" button to all listings to help consumers connect with agents to safely view homes they're interested in. Buyers are loving this new call-to-action option, which has resulted in a 500% increase in engagement. Video tours don't have to be complicated. It can be as simple as a one-on-one Facetime video (iOS) where you walk a buyer through a property and pause to answer questions, or even a pre-recorded video tour that walks viewers through your listing. Other one-to-one video apps you could use are Skype, Google Duo, or WhatsApp. Virtual Open Houses Supplement your open house strategy safely with virtual open houses. In partnership with over 100 MLSs, "Virtual Open Houses" now auto feed directly to Homes.com or you can manually add them to your listings via the Homes.com dashboard. To learn more about adding virtual open houses, click here. When creating a virtual open house, keep in mind that they must have a scheduled start and end time. Make sure to open at least 1 minute before the posted time and start outside of the house with the door open. Include your phone number to make it easy for interested buyers to reach you before the open house. Some programs you can use to host a virtual open house include Zoom and Google Meet. To learn how to get the most out of all the new virtual features and how you can leverage your Homes.com profile, sign up for the next educational webinar here. To view the original post, visit the Homes.com blog.
MORE >
Unprecedented Turnaround in Home Showing Activity Seen in April and May as Agents, Buyers and Sellers Adjust to Virtual Showings
MORE >
HomeActions Rolls Out PowerAgent360 Program to Recognize Best-of-the-Best
GREEN COVE SPRINGS, Fla., May 19, 2020 -- HomeActions, an e-prospecting company providing digital newsletters for real estate agents, has announced its PowerAgent360 program -- the latest innovation in the HomeActions toolbox. This client rewards program has been created with the goal of helping HomeActions' clients position their new real estate listings front and center. Agents in the program can now give their newsletter recipients -- those in their spheres of influence -- the confidence of knowing that their agent is leveraging digital marketing technology to expand their reach. The program includes a badge icon, flyer and email marketing tools that HomeActions clients can use to promote their ability to reach a wide range of prospects and referral sources. HomeActions also provides its clients with training tools and resources to ascend to higher levels of the program. "This program means that the agents take an integrated approach to email marketing, using imagery and videos, to position their new listings in front of the many contacts in their spheres of influence on a regular basis, increasing the likelihood that the listed properties will be seen," said Barry Friedman, CEO and founder of HomeActions. Agents with 250 to 999 database members receive a Gold Badge and a gold-level print flyer. Agents with 1,000 or more database members receive a Platinum Badge and a platinum-level print flyer. All agents of them receive guidance on how to use their badges and a white paper that outlines list-building tips. About HomeActions HomeActions LLC is a digital marketing and lead-generation solution with compelling content and interactive widgets for real estate agents. The HomeActions platform provides automated prospecting and marketing delivered biweekly via email to a professional's sphere of influence. HomeActions' professionally written articles portray agents as trusted advisors looking out for readers' interests by helping them care for the biggest investment in their lives. With instant lead access, customer relationship management capabilities and robust predictive metrics, the system has the capability to generate real-time leads and top-of-mind awareness while nurturing relationships that lead to long-term success and more referrals. HomeActions is a privately held virtual company that employs more than 50 people and is headquartered in Green Cove Springs, Florida. www.homeactions.net
MORE >
Hopeful Home Shoppers Rev Their Engines at the Starting Line
MORE >
Second Century Ventures Announces 2020 REACH and REACH Commercial Companies
CHICAGO (May 18, 2020) -- Second Century Ventures, the strategic investment arm of the National Association of Realtors, announced Monday the selection of its 2020 REACH and REACH Commercial programs. Second Century Ventures is the most active global venture fund in real estate technology with more than 100 portfolio companies worldwide. Second Century Ventures operates the global REACH accelerator with operations in five major markets. The award-winning REACH program helps launch and accelerate high growth potential companies in the real estate, financial services, banking, home services and insurance industries. "NAR has spent decades exploring and investing in the technological innovations we believe will define the future of America's real estate market – investments that appear even more critical in the face of the COVID-19 pandemic," said Bob Goldberg, CEO of the National Association of Realtors® and President of Second Century Ventures. "While we look at this crisis as an opportunity to grow and adapt to the markets of the future, we know it is also a time when NAR's commitment to equipping Realtors® with the technology they need to survive in a rapidly-evolving market is more important than ever," Goldberg continued. "The REACH program allows NAR to deliver radical and actionable innovation in all aspects of real estate, and we are thrilled to welcome 16 new companies representing a dynamic group of entrepreneurs who will work hand in hand with the Realtor® family to transform our industry." Companies selected for the 2020 REACH and REACH Commercial classes offer innovation in transaction management, insurance, home and small business security, digital marketing, multifamily housing amenity services, clean energy and more. Collectively, these two classes have raised over $50 million in capital, employ more than 340 people and represent a market capitalization of more than $400 million. "The companies selected for the 2020 REACH program rose to the top of a tremendously impressive list of applicants," said Dave Garland, Managing Partner of Second Century Ventures. "With the support and guidance of our vast global community of real estate industry professionals, strategic partners, investors and mentors, we are confident the 2020 class participants will be among the most instrumental companies to deliver positive and enduring transformation for real estate." The eight companies selected for the REACH Class of 2020 include: Earnnest: secure, electronic escrow fund transfer platform Kangaroo: affordable, DIY smart home and small business security solutions RealX: America's first online property rights exchange Ylopo: end-to-end, cross platform, digital marketing PunchList: all-in-one closing repair solution Transactly: simple, streamlined platform for real estate professionals and transaction coordinators CartoFront: software-as-service (Saas) based flood insurance tool for Realtors® Modus: secure, modernized title and escrow platform The eight companies selected for the REACH Commercial Class of 2020 include: Obie: insurance and portfolio management for small-to-medium CRE investors and owners EPR2: clean energy solutions for commercial property owners Pear Chef: private chef and culinary services for the multi-family housing market Dealius: integrated, web-based CRE brokerage management platform Dealius Capital: working capital funding specializing in lease commission receivables Leasera: on-demand services platform for the multi-family rental housing market Real Time Risk Solutions: mobile risk management platform with advanced analytics Occupier: Deal management, lease accounting and lease portfolio management solution "The rave success of the inaugural commercial program in 2019 more than illustrated the need for innovation that supports practitioners, owners, managers and investors alike," said Tyler Thompson, Managing Partner, Second Century Ventures. "We are excited to debut the REACH Commercial Class of 2020, a remarkable lineup of solutions across the commercial real estate eco-system, and we're eager to accelerate their growth through unrivaled access and exposure to the industry." REACH will offer its 2020 classes a robust curriculum including education, mentorship, a curated insight panel, exclusive networking opportunities and significant exposure to the global real estate marketplace. Learn more about the 2020 REACH and REACH Commercial classes and how you can get involved at narreach.com. About REACH REACH is a unique real estate technology program created by Second Century Ventures, the most active venture fund in the global real estate technology space. Backed by the National Association of Realtors®, SCV and REACH leverage the association's more than 1.4 million members and an unparalleled network of executives within real estate and adjacent industries. The REACH program helps technology companies launch into the real estate vertical and its adjacent markets. The program provides education, mentorship and market exposure to one of the world's largest industries. For more on REACH, visit www.narreach.com. About the National Association of REALTORS® The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
MORE >
Free Lead Generation Bootcamp: Flex Your Real Estate Muscles
MORE >
Realtor.com Forecasts a Year of Ups and Downs for Housing Market
Home sales to fall 15 percent in 2020 as prices flatten and mortgage rates end the year under 3 percent SANTA CLARA, Calif., May 13, 2020 -- Driven by pent up buyer demand and low interest rates, home sales in the U.S. will rebound in late summer and early fall as fears of the coronavirus begin to wane before experiencing a downturn again later in the year, according to a revised 2020 housing forecast released today by realtor.com®. The updated forecast finds that despite an uptick in transactions during the third quarter largely driven by millennials, home sales will be down 15 percent year-over-year. The forecast also expects home prices to flatten nationally as demand shifts to the secondary markets, which offer buyers more affordability and space. According to realtor.com® Chief Economist Danielle Hale, the path forward for home sales will resemble a W shape with homes sales rebounding in July, August, and September as fears of the coronavirus taper off and buyers return to the market to make up for the lost spring homebuying season before dipping again in the final months of the year as virus infections spike again and the lingering impact of the high unemployment rates are felt. "The U.S. housing market started 2020 with substantial momentum. With some of the best home sales and housing starts in more than a decade, our biggest challenge going into the spring home-buying season was a lack of for sale homes. The coronavirus pandemic has kept both buyers and sellers on the sidelines, preserving market balance, for now," Hale said. "As cities and states begin the slow process of reopening, we're going to see a see-saw recovery with ups and downs that will favor the nation's secondary markets in the short-term." Hale added, "The pandemic is leaving an imprint on the fabric of American life, culture, and preferences which we could see for years to come. After experiencing life under quarantine, many buyers are searching for affordability and greater space, which is driving demand out of the nation's largest metros and into surrounding smaller towns." The updated forecast projects mortgage rates to drop to new lows below 3 percent by the end of the year, primarily driven by an accommodating Fed and tepid economic outlook. Although rates will be favorable, the qualifying criteria will be tougher than normal as lenders seek to mitigate their own risks amid the unfolding economic uncertainty globally. The stricter qualifying criteria will require buyers to have higher credit scores in addition to more cash for down payments. Shopping around for the best rates and terms will be particularly important over the next year. Home prices are projected to flatten, increasing just 1.1 percent for the calendar year and possibly registering small declines by the end of 2020. With many sellers remaining on the sideline and a decline in housing starts, inventory will remain constricted. Under normal market conditions, prices would be expected to skyrocket as inventory evaporates, but buyer demand is expected to see-saw throughout the year as secondary waves of coronavirus infections continue to spread throughout the U.S. During these periods, sales are forecasted to take a hit as sellers de-list properties and buyer demand abates. Buyers will have difficulty finding available homes for sale Although qualifying for a loan will be more stringent, finding a home for sale will still remain the largest hurdle this year. The number of new homes for sale was down 45 percent year-over-year in April. However, with home prices expected to remain relatively stable, potential home buyers should have less competition from all cash investment buyers unlike the 2008 recession where they dominated the market. Buyers should expect periods of very low inventory turnover, especially if subsequent COVID-19 flare-ups occur, creating a 'what you see is what you get' environment. In some areas, buyers may find sellers leaning heavily on digital technology, such as virtual tours, instead of hosting traditional open houses. Determined buyers may need to be prepared to pull the trigger on a home sight unseen. Sellers will take a step back from the market Sellers are expected to face their own array of challenges in 2020. A well priced home would normally generate multiple offers, however, that may not be the case this year. Many sellers, who will also be subsequent buyers, will find the slower pace of sales and longer time on market have made timing a sale and a corresponding home purchase increasingly difficult compared to prior years. A lack of new homes for sale this spring -- traditionally the busiest time of year for real estate -- has signaled that sellers have adopted a certain level of patience in listing their homes. Market Drivers Baby Boomers - Many Baby Boomers, who have already held onto properties longer than expected, may decide to postpone their home sale another year until things begin to normalize. This will further constrict the number of homes for sale. The Baby Boomer generation may see their share of home purchases dwindle in 2020 as members of the generation step back from the marketplace. Millennials - Millennials will continue to be a dominant buying force in the market. Because millennials are making home purchases from a less discretionary perspective, they will continue to grow their share of home purchases. Millennials are projected to make up 50 percent of home purchases in 2020, but this number could grow if older generations decide to step back from the market. Secondary Markets - Secondary markets throughout the U.S. with resilient jobs markets could see greater than normal demand as buyers continue to search for affordability and additional space. As these markets heat up, we also expect to see a change to the mix of homes available for sale nationwide. As the mix of homes for sales shifts, we could see the national listing price decline to reflect the change towards more affordable homes. Election - The 2020 presidential election will continue to be a wild card this year. Historically, economic strength is a good predictor of how people will vote. Global Economy - The global economy will be key to watch this year. The U.S. is heavily dependent on imports and exports, so if the global economy is struggling, the U.S. will feel that impact. As the U.S. and the rest of the world continue to fight the COVID-19 pandemic, economic health here and abroad will be extremely important. EDITOR'S NOTE: The realtor.com economics team is continually tracking the impact of the coronavirus pandemic on the U.S. economy and housing market. The team's reports and analysis are available here. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
MORE >
Top-ranked US real estate agent Ben Caballero tops $2 billion volume - again
MORE >
Back At You Launches Instagram Integration
You asked, and we answered! Back At You officially announces a complete integration with Instagram, providing our clients with scheduling, auto-posting and publishing of content on Instagram through Back At You's Social Media Center. With this integration, Back At You becomes the only real estate technology company to schedule and post content to Instagram. Many companies who claim to publish directly to Instagram simply send a push notification to remind users to post, but users have to manually publish their scheduled content to their feed. This integration makes Back At You the only company in the real estate space to have the auto-publish functionality. Our system creates, schedules, and auto-posts relevant real estate related content to client's pages without the user having to do any work or heavy lifting. In addition to that, Back At You automatically can publish a client's new listing to their Instagram business profile. "The ability to publish Instagram content, including homes for sale, has been our top request this past year," said Michael Glazer, CEO and Co-founder of Back At You. "As huge as Instagram is, it's still at its early stages of use for real estate brokerages and agents. Our new, complete integration with Instagram will significantly help our clients raise their online profiles, accelerate their branding, and reach new audiences." Founded in 2011, Back At You is the only social media company that is an official partner of both the National Association of REALTORS®' REALTOR Benefits® Program and a Facebook & Instagram Marketing Partner with Ad Technology and FBX specialties. In addition to Back At You's award winning social media platform, the company provides all-in-one technology solutions including front and back end systems to help brokerages consolidate technology, save money and increase agent adoption. Back At You offers best-in-kind technologies to the real estate industry. About Back At You Back At You provides automated social media marketing, and an all-in-one solution designed to make companies more efficient, improve office communications, streamline operations, and reduce operating costs. The company offers best-in-class technology for both enterprise clients and individual agents and brokers. The company's dedication to real estate and technology has earned it awards from the National Association of REALTORS® as one of the top real estate technologies in the world, Red Herring as a Top 100 technology company in North America and from Facebook as an Official Facebook Marketing Partner. For more information on Back At You, visit www.backatyou.com or email at [email protected]
MORE >
Chime Unveils New Three-Line Dialer to Expedite Calling Efficiency and Increase Agent Productivity
MORE >
New Listings Fall Nearly 45 Percent in April as Coronavirus Keeps Sellers on the Sidelines
April data shows asking prices flatten as homes linger on the market longer SANTA CLARA, Calif., May 5, 2020 -- Newly listed homes dropped 44.1 percent in April -- historically one of the busiest months for residential real estate -- an indication sellers decided to wait and see how market conditions play out over the coming months, according to realtor.com's April Monthly Housing Trends Report, released today. The report offers the first full month of data showing the impact the COVID-19 pandemic is having on residential real estate throughout the U.S. The significant decrease in new listings adds a new dimension to the nation's inventory-starved housing market. The Northeast -- the region hit hardest by the COVID-19 pandemic -- saw the greatest decline in new listings at 59.4 percent. It was followed by declines of 49.5 percent in the Midwest, 44.1 percent in the West, and 31.4 percent in the South. "The good momentum we saw at the start of the year has helped to somewhat insulate the housing market from the coronavirus' negative impact on buyer and seller confidence across the U.S. Although we saw sharp drops in new listings, an increase in the time it takes to sell a home and a flattening of prices in April, May is likely to see some of these metrics worsen," said realtor.com® Chief Economist Danielle Hale. She added, "Just how significantly the housing market is impacted by the pandemic will depend on how effective the country is at containing the virus and how the economy responds. If all goes well, we could see buyers returning to the market aggressively this summer to make up for the spring they lost." The combination of a decline in new listings and many sellers opting to delist their properties pushed the total number of homes for sale across the U.S. down 15.3 percent year-over-year. April's drop in inventory amounted to a loss of 189,000 listings compared to this time last year. Within the nation's 50 largest metros, inventory declined by 16 percent overall, and none of the 50 metros saw an increase in inventory over last year. The metros with the biggest declines in inventory were Milwaukee-Waukesha-West Allis, Wis. (-46.1 percent); Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. (-38.7 percent); and Providence-Warwick, R.I.-Mass. (-29.3 percent). Days on market increased in April Homes sold in 62 days on average nationally in April, four days slower than April 2019. This is likely an indication that buyers also have decided to step back to see if economic conditions will improve over the coming months. Weekly data suggests May could see homes sitting even longer. During the week ending on April 25, homes spent an average of nine days more on the market than the same week last year. Additionally, social distancing measures and stricter mortgage lending criteria have made viewing a home and qualifying for a mortgage more difficult, which could continue to extend the amount of time a property sits on the market. Metros with the greatest increase in days on market were led by Buffalo-Cheektowaga-Niagara Falls, N.Y. (+24 days); Detroit-Warren-Dearborn, Mich. (+22 days); and Pittsburgh, Pa, (+15 days). Typical home asking prices flatten Nationally, the median listing price grew 0.6 percent year-over-year to $320,000. However, this was notably slower than March's price growth rate of 3.8 percent. This trend is driven by diminished seller expectations and by a shift in the mix of homes for sale. All of the nation's most expensive large metros have seen newly listed homes drop by 40 percent or more. Some lower-priced large metros have seen large declines in newly listed homes, but others have seen much more moderate reductions. Of the nation's 50 largest metros, 47 saw prices decelerate compared to March. The steepest price declines were seen in Dallas-Fort Worth-Arlington, Texas (-5.7 percent); Seattle-Tacoma-Bellevue, Wash. (-4.5 percent); and Chicago-Naperville-Elgin, Ill.-Ind.-Wis. (-4.4 percent). *Some data points for Los Angeles have been excluded due to data unavailability. EDITOR'S NOTE: The realtor.com economics team is continually tracking the impact of the coronavirus pandemic on the U.S. economy and housing market. The team's reports and analysis are available here. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
MORE >
Matterport Brings 3D Capture to the iPhone
MORE >
ProspectsPLUS! Launches New Web-to-Print Direct Marketing System for Real Estate Agents
ProspectsPLUS! 10X allows REALTORS to customize 100s of real estate marketing templates, build targeted mailing lists, and ship to verified residents next business day with full tracking. TAMPA, Fla., April 29, 2020 -- ProspectsPLUS! recently announced the launch of a new web-to-print marketing system for REALTORS. The on-demand system was designed based on feedback from over 20 years of serving real estate agents nationwide. It offers customizable real estate marketing templates and allows agents to build and organize mailing lists or upload and edit their own. After registering for a free account, agents can update their profile with a photo, logo, and contact information which automatically populates across all real estate marketing templates. The platform currently offers marketing template options for: Postcards Door Hangers Brochures Flyers Newsletters Presentation Folders Note Cards Business Cards The website also features new upgrades and enhancements geared toward making marketing easier for real estate agents. Here are a few: Personalized Marketing Dashboard Brokers and agents are now able to track orders, manage mailing lists, and edit information all in one location. In addition, each time they log into their account, the dashboard updates with dynamic mailing lists and real estate postcard templates for empty nesters who are likely to downsize, homeowners who have owned for 7+ years, renters who earn $70,000/year, and prospects with a net worth of $2,000,000 or more. HTML5 Template Editor The enhanced HTML5 editor now pre-populates with all the information in the user's profile. There are new fonts, additional colors, and a completely new image gallery that comes pre-loaded with real estate logos and a QR code builder. Mailing List Management Real estate mailing lists can be created or uploaded before, after, and during the design process. Agents can also build new lists based on geographic and demographic data, as well as lifestyle interests. Real estate professionals will eventually have the ability to automatically schedule campaigns that target homeowners throughout the year, this feature is still in development. About ProspectsPLUS! ProspectsPLUS! is a direct marketing company specializing in design, print, and publishing for real estate agents nationwide. With a customizable web-to-print platform agents can create a promotional piece, choose a target market, and ship with 100% tracking.
MORE >
BoomTown Expedites Virtual Tools to Help Bolster Real Estate Businesses
MORE >
Homesnap Introduces 'Coming Soon' Ads for Listings
Agents can now use Homesnap Pro Ads to put advertising dollars behind listings in "coming soon" status in their MLS*. Homesnap Pro Ads for Coming Soon Listings are available on Google, Facebook, Instagram, and Waze. Why does this matter? As the real estate market has slowed in the wake of COVID-19 and social distancing has made open houses and in-person visits difficult, many would-be buyers and sellers have postponed—but not canceled—their plans to enter the market. Coming Soon Ads are an effective way to give your soon-to-hit-the-market listings broader exposure and generate increased interest among these on-hold buyers. When the market eases back to normalcy, and you're ready to make your listing active, you'll have a waiting list of interested parties already eager to transact. Additionally, Coming Soon Ads are a useful tool in gauging current market demand. Many sellers, worried about a lack of interest, maybe hesitant to market their homes. Agents can use Coming Soon Ads' campaign results to gain deeper insights into market activity levels to advise clients on when is the right time to list and for what price. The perfect time to advertise Because of social distancing and stay-at-home orders, consumers are using social networks, particularly Facebook and Instagram, to stay connected. However, many businesses, instinctually pulling back spending, are not marketing to them. This combination of skyrocketing traffic and a dramatic drop in advertising spend has resulted in advertising costs on Facebook and Instagram falling considerably. We published a whitepaper on the subject, but the main takeaway is: Agents who are able to invest one these networks can expect a higher ROI and many more leads, to the tune of up to 40% more clicks for every dollar. With Coming Soon Ads, you can market your "coming soon" listing to these large social audiences at a price far less expensive than ever before. Or, in other words, you'll generate increased demand—at a fraction of the price. Ready to get started? Learn more about Homesnap Pro Ads *Coming Soon ads are available in select MLS markets To view the original post, visit the Homesnap blog.
MORE >
Realtor.com Connects Homeowners with Options to Sell Now, Move Later
MORE >
Nearly 3 in 4 Realtors This Week Report Sellers Haven't Lowered Listing Prices to Attract Buyers, Suggesting Calmness and No Panic Selling by Homeowners
WASHINGTON (April 23, 2020) -- Nearly 3 in 4 Realtors currently working with sellers this week -- 74% -- reported their clients haven't reduced listing prices to attract buyers, according to a new survey from the National Association of Realtors. This suggests interested home sellers are remaining calm and avoiding panic selling during the uncertain economic environment brought about by the coronavirus pandemic. "Consumers are mostly abiding by stay-in-shelter directives, and it appears the current decline in buyer and seller activity is only temporary, with a majority ready to hit the market in a couple of months," said NAR Chief Economist Lawrence Yun. "The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy." NAR's latest Economic Pulse Flash Survey – conducted April 19-20, 2020 – asked members how the coronavirus outbreak has impacted the residential and commercial real estate markets. Several highlights include: More than a quarter of Realtors® – 27% – said they were able to complete nearly all aspects of transactions while respecting social distancing. The most common technology tools used to communicate with clients are e-signatures, social media, messaging apps and virtual tours. Residential tenants are facing rent payment issues, but many delayed payment requests are being accommodated. Forty-seven percent of property managers reported being able to accommodate tenants who cannot pay rent, a 6% increase from a week ago. Nearly a quarter of individual landlords – 24% – said the same, unchanged from last week. NAR also today released its 2020 Animal House: Pets in the Home Buying and Selling Process report, which analyzes Realtor® recommendations and actions taken by home buyers and sellers to best accommodate their pets and present their homes in the best light. Several highlights include: More than 4 in 10 U.S. households – 43% – would be willing to move to better accommodate their pets, demonstrating that this is a priority among consumers. Almost 1 in 5 recent home buyers – 18% – said it was very important that their new neighborhood is convenient to a vet or near outdoor space for their pets. A majority of Realtors®' clients – 68% – said a community's animal policy influenced their decision to rent or buy. "As households in the U.S. pursue comfort, companionship, and home entertainment, animal shelters were cleared out in many cities," said Jessica Lautz, NAR vice president of demographics and behavioral insights. "These pet adoptions could lead to future home sales as families seek to accommodate the best living spaces for their four-legged family members." View NAR's 2020 Animal House: Pets in the Home Buying and Selling Process report. View NAR's Economic Pulse Flash Survey full report. View NAR's Weekly Housing Market Monitor here. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
MORE >
Attend an Open House without Leaving Your Couch
MORE >
Agents turn to CRS Data's property data, mapping tools as Coronavirus restrictions tighten
New webinar, increased support helps agents create better virtual experiences Knoxville, Tenn. -- April 16, 2020 -- CRS Data, a leading provider of property tax data in the U.S., is sharing webinars and customer support tools to help real estate agents adjust to increased restrictions due to coronavirus. While CRS Data's MLS Tax Suite has always been a go-to resource for agents across the U.S., their property data tools have become more vital than ever before as agents look to create a better, smarter virtual shopping experience for buyers. In addition to CRS Data's trusted Help Desk, the team is offering a free webinar for real estate agents: Optimizing Your Realty Business in the Age of Coronavirus. As the provider of one of the most highly used data tools available to real estate agents, the webinar shares ways agents can navigate the near-term downturn and prepare to optimize sales as the virus continues to impact the economy. The CRS Data team is calling for ongoing questions to inform new tools and webinars as they help agents adjust to new restrictions that prevent or limit in-person experiences to sell and buy property. "We have been humbled and saddened by the impacts of the coronavirus across our country and to our real estate industry," said Matt Casey, CEO of CRS Data. "Our MLS Tax Suite product is uniquely positioned to help agents prepare for ongoing impacts to the market and economy, and ultimately weather this storm as successfully as possible using the property data and mapping capabilities they have at their fingertips. We're committed to doing what we can right now to support them during this downturn." Agents are looking for ways to bring the buying experience to life, according to CRS Data's Help Desk team, which is fielding calls from agents who are looking for new ways to help their clients. The right tools and features can make an impact. For instance, mapping tools help agents show the distance between a home and a local pool house or community center. Various map views can give buyers a better sense of their community and neighborhood. CRS Data's first webinar focuses on helping agents create a virtual experience. Topics include improving and optimizing prospecting and creative ways to customize and brand reports. The team will introduce new webinars that focus on mapping capabilities and layers tools, calculating the value of home additions and exploring ways to leverage neighborhood data and area statistics. "This is an uncertain time that has brought changes to the real estate market that are uncharted, so it's more important than ever to step up to the plate with solutions that offer real direction and purpose right now," said Casey. "We are calling for questions from real estate agents, which our team will directly use to design ongoing webinars and support tools." CRS Data is committed to creating long-term partnerships with their customers, offering custom solutions, a variety of training opportunities and providing personable customer support for their members. Agents can share questions by emailing [email protected] Across the U.S., the team now services its MLS Tax Suite to more than 100 MLSs. About CRS Data Headquartered in Knoxville, Tenn., CRS Data is a leading provider of public record information servicing bankers, MLSs, appraisers, investors, and other specialty financial customers across the U.S. CRS Data is focused on providing accurate and timely property data, quality products and unparalleled customer satisfaction. Visit www.crsdata.com to learn more.
MORE >
A Quarter of Realtors This Week Report Homes Coming Under Contract Without Buyers First Visiting the Property
MORE >
ProspectsPLUS! 10X is Officially Here
We listened to your feedback and created the best customer experience you could ever imagine: ProspectsPLUS! 10X. IT'S 10X FASTER, 10X EASIER AND 10X MORE INTUITIVE! Check out these cool features: A Personal Dashboard Get targeted opportunities in your specific area. Review past orders. Manage mailing lists. Edit your information. Grab new promo codes. Read insightful, informative real estate articles. The World's Best Editor Highly intuitive, easy editor. Works on any browser. More color options, fonts, and editing tools available. Auto-populated templates. Mailing Lists You Can Build and Buy Fast Build a list in minutes from geographic, demographic, or lifestyle interest data. Organize and manage lists, prospects, and your Sphere. Coming Soon: Automatically schedule targeted campaigns all year long! Auto-Populated Marketing Save time uploading images and adding contact info. Get 100s of marketing pieces with your agent photo, logo, and information already populated! It's Time to Experience the All-New ProspectsPLUS! 10X! GO NOW! Call our support team if you need any assistance at 866-405-3638. We're here to support you, always! To view the original post, visit the ProspectsPLUS! blog.
MORE >
U.S. Housing Markets Vulnerable to Coronavirus Impact Clustered in Northeast and Florida
MORE >
RPR Doubles Its Mailing Labels Capability
Good news! In an effort to deliver tools that help REALTORS right now, RPR worked with Black Knight (our public records provider) to increase the number of labels or mail address exports you can create each month. Effective immediately you can create up to 4,000 labels monthly. The normal amount is 2,000. Yep, we doubled it! This increase extends through June 30th. Looking to start using this feature? Use the links below to learn as much as you can about direct mail campaigns, exporting lists and farming for leads. Read more about our mailing labels feature: RPR Announces Mailing Labels Learn more about prospect farming: RPR's Ultimate Guide to Geographic Farming Download our eBook on setting up a direct mail campaign: RPR's REALTORS'® Guide to Mastering Direct Mail To view the original post, visit the RPR blog.
MORE >
CINC Dynamically Shifts Development, Product, and Service Focus to Address COVID-19 Crisis
MORE >
LionDesk Chooses Constellation1 to Provide IDX Data Services
Constellation1's robust data services provide faster market penetration and streamlined processes MILWAUKEE (APRIL 06, 2020) -- Constellation1, a leading provider of technology for real estate brokerages, franchises and MLSs across North America, is pleased to announce a new data services relationship with LionDesk, the CRM platform of choice for over 165,000 real estate and mortgage professionals. "We're excited to have chosen Constellation1 as our data services provider," said David Anderson, Founder and CEO of LionDesk. "There were a number of options in the market but the level of service available through Constellation1 and their industry reputation for robust data and reliability solidified our decision." This new partnership will enable LionDesk to simplify their data aggregation process through Constellation1's data services offering, which includes IDX feeds from more than 500 MLSs across the country. The result is faster market penetration, access to the Constellation1 data compliance experts, streamlined approval processes, and significant cost and time savings with full access to data services professionals under Constellation1. "LionDesk's needs align seamlessly with the value of our data services offering," says Andrew Binkley, President of Constellation1. "Our APIs, extensive data sets, and applied data mapping will simplify the workflow for LionDesk, enabling improved operations and increased market opportunities. We value being a part of this growth for LionDesk." The data services offering from Constellation1 integrates with its front office and back office solutions, which includes front office sales and marketing tools with lead generation and relocation management, back office software such as accounting, eSignature, and transaction management. Constellation1 provides a full suite of technology solutions that meet the needs of leading real estate brokerages, franchises and MLSs. Its comprehensive data services products additionally serve technology providers, both in and outside the real estate industry. About Constellation1 Constellation1 provides front office, back office and data services to real estate brokerages, franchises and MLSs across North America. Constellation1 is your source for real estate technology.Constellation1 is part of Constellation Real Estate Group. For more information, visit constellation-1.com About LionDesk LionDesk is the CRM platform of choice for over 165,000 real estate, mortgage and small business professionals. Known for ease of use, affordability and customization, LionDesk leads the way in innovation with features such as video emailing, texting and an AI lead follow up system. To learn more, visit LionDesk.com or follow on social at @LionDeskCRM.
MORE >
NAR Offers Members TeleHealth to Realtors at No Cost in Response to COVID-19 Crisis
MORE >
March Housing Trends Provide First Glimpse of COVID-19 Impact on U.S. Housing Market
Signs of softening price growth and slower buyer activity began to emerge in last two weeks of March despite an overall decrease in inventory, higher listing prices and fewer days on market SANTA CLARA, Calif., April 2, 2020 -- The U.S. housing market began to show signs of slowing in the second half of March as the year-over-year decline in inventory softened, the number of newly listed properties declined and prices decelerated compared to earlier in the month, according to realtor.com's March Housing Trends Report released today. The monthly report provides the first data-based glimpse into the impact the COVID-19 pandemic could have on residential real estate as the market enters the spring home-buying season. Due to the strong start to the month, the total number of homes for sale in March overall declined 15.7 percent from the same time a year ago, a faster rate of decline compared to the 15.3 percent drop in February. This amounts to 191,000 fewer homes for sale year-over-year. The impact of COVID-19 materialized in the latter half of March. While the last full week of February showed inventory declining by 16.8 percent -- the largest year-over-year decrease since April 2015, the weeks ending March 21 and 28, respectively, declined at a slower pace of 15.2 percent each on a year-over-year basis. "Our inventory and listing data can provide some early insight into how housing markets may be impacted by COVID-19, but the situation and reactions to it are still rapidly evolving," said realtor.com® Chief Economist Danielle Hale. "The U.S. housing market had a good start to the year. Despite still-limited homes for sale, buyers were buying and builders were building. The pandemic and virus-fighting measures appear to be disrupting that initial momentum as both buyers and sellers adopt a more cautious posture." Although there is not enough movement in weekly data to provide insight into shifts in days on market, the progression of weekly data hints that sellers may be rethinking or postponing their plans to list their home for sale in response to COVID-19. In the weeks ending March 21 and March 28, the volume of newly listed properties decreased by 13.1 percent and 34.0 percent, respectively compared to the prior year. This is in line with recent surveys of agents and consumers that report declining interest among potential homebuyers and homesellers. While far from foreshadowing price declines, price growth decelerated during the weeks ending March 21 and March 28 as compared to earlier in the first two weeks of the month. During the last two weeks of March, the median U.S. listing price increased by 3.3 percent and 2.5 percent year-over-year respectively, the slowest pace of growth this year, and the slowest since realtor.com began tracking in 2013. March Housing Trends Inventory declines continued to impact the housing market in March. The metros which saw the largest declines in inventory were Phoenix-Mesa-Scottsdale, Ariz. (-42.2 percent); Milwaukee-Waukesha-West Allis, Wis. (-36.2 percent); and San Diego-Carlsbad, Calif. (-33.4%). Only Minneapolis-St. Paul-Bloomington, Minn.-Wis. (+3.6 percent) saw inventory increase over the year. Consistent with the first two months of 2020, March saw homes selling more quickly than last year as an early home buying season began in the U.S. The typical home sold in 60 days, four days faster than last year. Properties in Miami-Fort Lauderdale-West Palm Beach, Fla.; Pittsburgh and St. Louis, Mo.-Ill.; spent the most time on the market, selling in 86, 78 and 65 days, respectively. Meanwhile, properties in San Jose-Sunnyvale-Santa Clara, Calif.; Denver-Aurora-Lakewood, Colo.; and Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va., sold most quickly, spending 24, 26 and 29 days on the market, respectively. Listing prices grew at a slightly decelerating pace of 3.8 percent compared to February's 3.9 percent. Of the 50 largest metros, 45 continued to see year-over-year gains in median listing prices. Pittsburgh (+17.9 percent); Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. (+14.0 percent); and Memphis, Tenn.-Miss.-Ark. (+12.7 percent) posted the highest year-over-year median list price growth in March. The steepest price declines were seen in Dallas-Fort Worth-Arlington, Texas (-2.7 percent); Minneapolis-St. Paul-Bloomington, Minn.-Wis. (-1.4 percent); ; and Houston-The Woodlands-Sugarland, Texas (-1.4 percent). *Some data points for Los Angeles have been excluded due to data unavailability. EDITOR'S NOTE: The realtor.com economics team is continually tracking the impact of the coronavirus pandemic on the U.S. economy and housing market. The team's reports and analysis are available here. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
MORE >
JP & Associates Realtors Partners with Matterport to Make 3D Virtual Tours Available to 2,500 Agents
MORE >
Redfin Reports How U.S. Cities Will Fare in the Coronavirus Recession
Affordable homes and low exposure to volatile industries should help some metros weather the storm SEATTLE, March 31, 2020 -- Affordable East Coast and Midwest cities have the lowest overall economic risk in the 2020 recession that began in March, according to a new report from Redfin, the technology-powered real estate brokerage. The one-two punch of the coronavirus (COVID-19) and an oil price war between Saudi Arabia and Russia has rapidly brought to reality a possibility that seemed remote just a few months ago, but the impact in the real estate market is likely to be short-lived and much less extreme than the 2008 Great Recession. Rochester, Hartford, and Raleigh have the lowest overall economic risk in this recession, while Los Angeles, Miami, and San Diego have the highest risk, based on a late March 2020 analysis by Redfin economists. Housing is Well Positioned to Weather This Storm Because the housing market was strong going into the 2020 recession, there's currently no reason to expect a major crash in home prices. In fact, the driving factors for this 2020 recession are unrelated to real estate, which is just one of the reasons at this time Redfin believes fallout in the U.S. real estate market will be mild, and nowhere near the catastrophe of the 2008 Great Recession. "The housing market came into this turmoil in a strong position, with a very low supply of homes for sale and record levels of home equity," said Redfin lead economist Taylor Marr. "Home equity can function as a rainy day fund. Homeowners can weather a storm of falling home values without the pressure to walk away from their home. They can also better handle a loss of income if they can tap into their equity with a home equity line of credit (HELOC). This stabilizes the market, preventing an influx of supply from foreclosures, which would further cause prices to fall in a vicious cycle. Additional government support provided through the stimulus bill CARES Act and a moratorium on foreclosures can also prevent a falling out during this pandemic." To evaluate the potential impact of the 2020 recession on the local economies of the 49 largest U.S. cities, Redfin analyzed a variety of general factors, as well as some specific to this recession, such as rates of leisure and hospitality employment, debt-to-income ratios, number coronavirus cases and air transportation employment. Metros With Lowest Economic Risk in the Coronavirus 2020 Recession High Debt, High Density and Expensive Housing Make Some Cities More Susceptible While many cities are expected to weather the 2020 recession, some will be harder hit than others. Because the impacts on other, non-housing sectors of the economy, especially employment, are likely to be very large, some metro areas face a greater economic risk during the 2020 recession. Those that are hit the hardest overall are also likely to be more at risk of a real estate downturn. "Some cities have factors that make them more susceptible to losing their footing and are likely to be hard hit," continued Marr. "Amidst rapidly rising layoffs, it will be especially difficult to sell a home in these markets, and yet buyers will likely find limited options as sellers delay listing, leaving the housing market in a standstill. Federal support will help cushion the fall, but in these areas it will take significantly longer to recover." The cities most likely to face economic risk tend to be those with high home prices, high levels of personal debt, and large numbers of people employed in the hospitality industry, which applies to most of the big cities in the West. San Jose (48.4%) is the only metro area in the West with a recession risk score below 50%. The metro area with the highest risk of economic damage during this coronavirus recession is Los Angeles, with an overall score of 77.6%, followed by Miami (76.8%) and San Diego (75.2%). Chicago and Denver stand out as unusual among the 10 metros at greatest risk as, unlike most others on the list, neither is a typical "boom-bust" town. Both have relatively high population density, large employment bases in air transportation and a large rate of existing coronavirus cases, which drove up their overall risk scores. To read the full report, complete with metro rankings and methodology, please click here About Redfin Redfin is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 90 major metro areas across the U.S. and Canada. The company has helped customers buy or sell homes worth more than $115 billion.
MORE >
NAR Relaunches 'Right Tools, Right Now' to Help Realtors Face Coronavirus's Impacts
MORE >
Happy Grasshopper Announces Free Content for Every REALTOR
SAFETY HARBOR, FLA. - (March 26, 2020) -- Dan Stewart, CEO of Happy Grasshopper, today announced the creation of free messaging content for all real estate agents, teams and brokers, whether or not they are HG members. The new program is called "HG Free." "Our mission – to connect the world in conversation – has never been more important," Stewart said. "In this unprecedented time of social distancing, we must continue to hold conversations with one another through the communication media available to us. For our largest client base – real estate agents, teams, brokers, and franchises – staying in touch with leads, their sphere of influence, current and past clients and others is always important. Today, in the face of this world-wide, self-quarantining pandemic, it is crucial." Stewart noted that the free content Happy Grasshopper has created includes email and text messaging, voicemail drops, and social media messaging. "Every real estate entity will have access to this content, which they can copy, paste, edit and send to their database through Happy Grasshopper or their own system." "The real estate industry has been very good to us," Stewart added. "We value the relationships we've built in the real estate industry throughout North America. So, when times become uncertain, we want everyone to know that we are here for them, continuing to provide more and better services every day." Above: Happy Grasshopper Home Page about HG Free Content. "Many are fearful of what will happen to their businesses. Fear can be paralyzing. However, the worst course of action is inaction. We're providing an opportunity for everyone in real estate to be proactive. We will get through this, and those who continue to communicate and converse with the people in their databases are the ones who will emerge stronger than ever." A look at the Free Email Message Page for Real Estate Agents inside HG Free. Happy Grasshopper is a company that helps people initiate and foster conversations with prospects, customers, and others through a variety of media. Dan Stewart is available for media interviews, contact Brian Rayl for scheduling. Happy Grasshopper Home page: https://happygrasshopper.com/
MORE >
NAR Survey Finds Nearly Half of Realtors Say Home Buyer Interest Has Decreased Due to the Coronavirus Outbreak
MORE >
Showing Activity Down 38-45 Percent in Past Two Weeks Due to COVID-19
The Pandemic"s Daily Impact on Buyer Traffic is Being Felt on Both the National and State/Province Levels, Though "Virtual" Showings are Being Scheduled Through ShowingTime"s Systems March 24, 2020 - As the world comes to grips with the impact of COVID-19, so too has the residential real estate industry, with showings off as much as 45 percent in some North American markets vs. the pace from two weeks ago, according to data obtained by ShowingTime. Data aggregated from the five million showings scheduled through ShowingTime's systems each month reveals that buyer interest – which has been higher for the past seven months compared with 2019 – remains intact, but showings have plateaued as more states issue statements asking residents to shelter in place to slow the spread of the virus. "ShowingTime is dedicated to helping our clients and the communities they serve ease the burden brought on by the pandemic by giving them accurate, reliable data that they can use to help with their home buying and selling decisions," said ShowingTime President Michael Lane. "We are committed to working with our clients to help them do their jobs in a safe, productive manner." To monitor daily showing traffic vs. the same period in 2019, ShowingTime has posted charts on its website that shows buyer activity across North America, along with traffic in individual states, to provide insight on the pandemic's impact. The data points in the charts represent a rolling weekly average in 100 markets that each record tens of thousands of appointments each month. "If we look at the magnitude of the slowdown across different price ranges, homes in the $300K range saw 35-45 percent declines in showing traffic over the last two weeks, while homes above $500K are still being shown, but the temporary declines are in the 50-60 percent range," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. The onset of the COVID-19 pandemic follows a February that marked the seventh consecutive month of nationwide growth in buyer activity with the nation's 14.8 percent rise, according to the latest ShowingTime Showing Index® report. The West Region saw the most notable gain, with a 25.2 percent year-over-year increase in traffic, followed closely by the South's 21.4 percent increase. The Northeast's 13.4 percent increase and the Midwest's 9.9 percent uptick rounded out the regional improvement in buyer activity. "As communities continue to respond to COVID-19, we will continue seeing expected declines in showing activity in most markets, particularly in those that felt the greatest impact in the 2008 housing crash," said Cherkasskiy. "Whether or not these drops will be sustained will become clearer as additional data are made available. We will continue to monitor the situation and provide the latest data on our website." The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, providing a benchmark to track buyer demand. ShowingTime facilitates more than five million showings each month. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Local MLS indices are also available for select markets and are distributed to MLS and association leadership. To view the full report, visit showingtime.com/showingtime-showing-index/ About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers and other real estate companies, as well as a recruiting tool for brokers. ShowingTime products are used in 370 MLSs representing nearly one million real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
MORE >
NAR to Deliver Virtual Solutions for 2020 Realtors Legislative Meetings & Trade Expo
MORE >
Exclusive Podcast Interview with NAR Chief Economist on Coronavirus Impact
National Association of REALTORS ® Chief Economist, Dr. Lawrence Yun, addresses the outlook of real estate markets in a special episode of "The Brian Buffini Show" podcast CARLSBAD, Calif., March 19, 2020 -- Chief economist and senior vice president of research for the National Association of REALTORS® (NAR), Dr. Lawrence Yun, will discuss the impact of COVID-19 on real estate and the economy in an exclusive interview with real estate leader, Brian Buffini, on The Brian Buffini Show podcast. Available Thursday, March 19, the two experts will weigh in on the state of the housing market, the short/long-term outlook and how real estate agents can safely serve their clients and community. In a wide-ranging interview covering a variety of topics, Dr. Yun reveals his belief that a vibrant real estate market should emerge after the coronavirus threat subsides, "even if it takes a little longer to contain it, there are such solid fundamentals for the real estate market, things will play out very well over the long haul." Buffini advises real estate professionals to be a reliable source of market information for their clients and use the downtime to enhance their professional skills. He wants everyone to realize that "The sky is not falling. This is a difficult time, but in many ways, it could be our finest hour." Dr. Lawrence Yun is a renowned leader in real estate and economics. His extensive research fuels major reports for NAR, which serves a membership of more than 1.4 million real estate agents. During this interview, respected industry guru Brian Buffini complements Yun with his more than 30 years of real estate expertise, providing much needed clarity in the midst of an uncertain economic situation. The Brian Buffini Show podcast is now in its 4th year of providing real estate professionals and consumers with Brian's insightful observations, along with the views his well-known guests. The podcast has become recognized as one of the most influential in the industry, with over 7 million downloads. What: "This Too Shall Pass: An Interview with Dr. Lawrence Yun," The Brian Buffini Show special episode Who: Lawrence Yun, Chief Economist for the National Association of REALTORS®, and Brian Buffini, Founder and Chairman of Buffini & Company Where: https://www.thebrianbuffinishow.com/ When: Available Thursday, March 19, 2020 @ 12:01 a.m. About Buffini & Company Buffini & Company is the largest coaching and training company in North America. Founded by real estate legend and master motivator Brian Buffini, the company provides a unique and highly-effective lead generation system. Buffini & Company's comprehensive business coaching, training programs and cutting-edge content have helped more than 3 million professionals in 37 countries improve their business, increase net profit and enhance their quality of life. Buffini & Company is headquartered in Carlsbad, California. For more information, please email [email protected] About Brian Buffini Brian Buffini, chairman and founder for Buffini & Company, was born and raised in Dublin, Ireland, emigrated to San Diego, California, in 1986 where he became the classic American rags-to-riches story. Discovering real estate, Brian quickly became one of the nation's top real estate agents working a non-traditional methodology based on building long-term relationships with clients. Today, he travels the world sharing a message of encouragement about how to "live the good life." His wit, wisdom and motivational style make him a dynamic speaker and podcast host, adept at helping people tap into their full potential and achieve their dreams. He is a New York Times, Amazon and Wall Street Journal best-seller with his latest book, "The Emigrant Edge." Learn more at brianbuffini.com.
MORE >
Email marketing generated $42 for every $1 spent in 2019
MORE >
Buying, Selling or Just Curious: Realtor.com Helps You Determine What a Home is Worth
Estimated home values from three highly respected sources now available on for-sale and off-market homes SANTA CLARA, Calif., March 12, 2020 -- To help provide consumers with the information they need to make confident choices, realtor.com announced today that it now displays estimated property values from three widely respected sources on for-sale and off-market properties. Realtor.com is the only national home search site to offer a range of values from third party sources. To provide more insight into a home's value, realtor.com® is partnering with the same trusted data providers used by lenders and insurance companies to estimate a property's value. While not an appraisal, this data will empower consumers to make more informed and confident decisions when buying or selling a home. "A home is often a person's largest asset, so it's natural to wonder what it is worth. Additionally, everyone wants to make sure they're getting a fair deal when buying or selling," said Todd Callow, vice president, product management, realtor.com®. "By providing consumers with multiple estimates from the same sources that financial institutions rely on to estimate a home's value, we are able to offer a broader set of data to help our users make informed decisions about buying and selling homes." Many factors go into accurately estimating the value of a home including location, size, finishes, school districts and much more; so, property estimates can vary from one source to the next. Although no automated model is 100 percent accurate, providing data from multiple sources, each with their own unique algorithms, enables consumers to have a more complete picture of home value. While these data sources add a layer of transparency and show consumers the information often only available to financial institutions, they are not a replacement for the value gained from speaking to a local real estate professional. In addition to being included on for-sale listings, the values will also appear in the My Home portal, realtor.com®'s dashboard for homeowners to track everything about their home including value, equity and mortgage, all in one place. This will further help homeowners to understand the value of their home and make decisions about refinancing, remodeling, neighborhood changes and more. Realtor.com® is a trusted source for accurate and transparent real estate information and listings. These home value estimates add an important data point from which consumers can more easily buy and sell with confidence. Home values are now available for web and mobile web with iOS and Android coming soon. To see the new home values, visit the My Home portal or property listings on realtor.com®. To learn more visit: realtor.com/estimates. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
MORE >
ATTOM Data Solutions Launches Building Permit Data Spanning Over 200 Million Permits Nationwide
MORE >
It's Oh, So Quiet!
Realtor.com's new noise indicator enables home shoppers to understand a property's noise level before they visit SANTA CLARA, Calif., March 9, 2020 -- There are many things you can determine from a property listing – a home's size, location, aesthetics, school districts and much more. However, there are some things you simply can't see – such as how noisy or quiet a property may be. Today, realtor.com introduced a new noise indicator feature that provides reliable sound data down to the property level. Understanding the noise level surrounding a property gives consumers another piece of valuable information they need to make confident buying decisions. Consumer surveys have found that the most important aspects when considering a new home are price, schools, commute, crime and noise. Realtor.com®'s noise indicator is a first-of-its-kind feature among national real estate search sites providing home shoppers with data at the property level, where others can only do so at a neighborhood level. "Every home buyer is different. Some people are at home in a bustling city, while others prefer the peace and quiet of a country farmhouse," said Rachel Morley, senior vice president, product management, realtor.com®. "With our new noise indicator, we can provide specific information about whether the property is near a freeway, an airport or a gas station and how that impacts sound levels. This information can help narrow the search and make sure that our users find a home that's perfect for them." Noise works in two ways. First, each property will be assigned a noise rating—high, medium or low. Users will also be able to drill down into sources of noise near each property and view details on a heat map overlay that displays noise sources. The feature takes into account three sources of noise: traffic, airports and local sources like restaurants, gas stations, sports stadiums, schools and more. These sources are combined to assign each property a rating. Because the new tool can delineate noise levels down to the individual property level, homes in the same neighborhood may have different ratings based on proximity to major roads, hospitals or schools, for example. Realtor.com® empowers consumers with extensive property listings and accurate information to help home buyers and sellers make confident and informed decisions. Click here to try the noise indicator; now available for properties across the continental U.S. on iOS, Android, web and mobile web. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
MORE >
Seamless Search-to-Social with Market Reach
MORE >
Delta Media Group Adds INRIX Drive Time
Inrix Drive Time Shortens Sales Cycle for Clients CANTON, Ohio -- Michael Minard, CEO and Owner of Delta Media Group, announced today his company's recent addition of INRIX Drive Time to better serve its real estate marketing clients. "By making INRIX Drive Time available to our real estate marketing clients, the question of commute time can be determined in the number of minutes—not miles—it takes to drive to a destination. Delta's clients who incorporate INRIX Drive Time into their websites remove the frustration out of the house hunt for buyers and shortens the sales cycle for REALTORS® considerably by prioritizing suitable homes for their clients," says Minard. INRIX, founded in 2005, developed the practice of managing traffic by analyzing data not just from road sensors, but also from vehicles. With Drive Time, users analyze the extent of a drive by day of the week, time of day, and length of the journey. Franklin Stoffer, Sales Manager for Delta Media Group, comments, "Delta continues to innovate and deliver the most powerful search engine for real estate. In addition to the ability for our clients to create hyper-localized searches, search by government-defined zones, and metro-line searches, our clients now can offer drive-time (commute) searches on their websites. This feature is a powerful differentiator for our clients who can now say with confidence they provide the best search tools in their market." To find out more about incorporating INRIX Drive Time into your marketing plans, contact Franklin Stoffer for details. About Delta Media Group Delta Media Group, located in Canton, Ohio, is the creator of DeltaNET 6, the real estate industry's most advanced all-in-one technology platform. Delta Media Group is 100% family-owned and operated with no outside investors and no VC funding. As a leading technology provider to the top U.S. real estate companies, Delta provides clients with both form and function in DeltaNET 6, saving them money and reducing the frustration of managing multiple online.relationships. When you work with Delta Media Group, you're getting a technology partner that you can trust rather than merely a tech vendor.
MORE >
Homes.com Local Connect Advertising: Smarter than Ever
MORE >
Housing Shortage Leads to Intense Competition Among Homebuyers
Survey of more than 500 Redfin agents shows increase in bidding wars across U.S. markets SEATTLE, Feb. 24, 2020 -- A majority of offers submitted by Redfin agents faced competition in January, according to a survey of more than 500 agents across the nation in a new report from Redfin, the technology-powered real estate brokerage. Competition is spiking hard and early in 2020, and agents are reporting a flood of buyers as home supply sits at its lowest point in seven years, leading to a severe housing shortage in many areas. "Low mortgage rates have brought buyers back to the housing market, but a lack of listings means buyers are having to compete with one another to secure a sale and lock in a mortgage rate," said Redfin chief economist Daryl Fairweather. "This competition pushes up prices, which means that even though buyers can get a good deal on a mortgage now they are often paying a higher sticker price." The San Francisco Bay Area had the highest rate of competition, with agents estimating that more than 90% of the time there were multiple offers on homes their clients were bidding on—despite the fact that the median home price there is still well above $1 million. Of the 24 markets where Redfin received a significant volume of responses from agents, homebuyers in all but five faced competition more often than not. The area that seemed least prone to competition was Greenville, SC. In the Bay Area, the most competitive market in January, buyers are going to extreme lengths to win a home. "After missing out on one home due to a bidding war, my clients were much more aggressive on their next offer," said Redfin San Jose agent Jennifer Tollenaar. "In order to beat 24 other offers, they put 50% down, wrote a great letter to the sellers and removed all contingencies. This was on a home with a purchase price of over $1.7 million." "In Phoenix, inventory is so low right now that one of my clients has run into bidding wars with more than 10 offers for three weekends in a row," said Arizona Redfin agent Thomas Wiederstein. "Offering well above listing price isn't enough in today's market. You have to do that, plus waive contingencies just to have your offer considered by sellers." The most shocking story of competition came from Redfin Portland agent Meme Loggins, whose clients recently made an offer that was $8,000 above the home's $275,000 list price. "Ours was the second offer the sellers had received. Two days later we were competing with 30 other offers. This bidding frenzy took place on a mobile home that was pretty far out of the metro area and not even in great condition. It's getting crazy out there!" It's not just the West Coast that's seeing competition explode. In Philadelphia, even homes that have been on the market for months are suddenly attracting bidding wars. "One home I recently helped my clients win had been on the market since June and hadn't been reduced in price since November," said Redfin Philadelphia agent Brenda Beiser. "When we looked at it in mid-January the agent told me there had been six other appointments the day before. By the time our offer went in that evening they had received two other offers." A number of other Redfin agents shared similar stories of experiencing multiple offers in January on homes that had been on the market for months. This recurring theme is indicative of just how many buyers have suddenly come into the market, but without a corresponding increase in listings of homes for sale. To read the full report, please visit: https://www.redfin.com/blog/homebuyer-competition-report-january-2020. About Redfin Redfin is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 90 major metro areas across the U.S. and Canada. The company has helped customers buy or sell homes worth more than $115 billion.
MORE >
Second Century Ventures Continues Global Expansion of REACH Accelerator
MORE >
2020 Home Showing Traffic Begins Where 2019 Left Off with Sixth Consecutive Month of Nationwide Year-Over-Year Improvement
National Growth in Buyer Foot Traffic Largest in the History of the Showing Index® February 21, 2020 -- The chill of winter's first full month failed to cool home buyer activity, as January showing traffic saw significant year-over-year increases across all regions throughout the U.S., according to the latest ShowingTime Showing Index report. The 20.2 percent year-over-year jump in national showing traffic in January was the most significant recorded in the history of the Showing Index. The West again topped regional growth last month, with a 34.1 percent increase compared to January 2019. The South and Northeast reported similar gains in buyer traffic, at 21.6 percent and 20.6 percent, respectively. The Midwest's 15.7 percent year-over-year increase rounded out the regional gains in January. "We continue to see substantial increases in buyer traffic," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "While only a portion of the markets showed spikes in November - December 2019, showing traffic increased across the board for almost all markets in January. "It's important to note that January 2019 traffic was somewhat subdued due to extreme weather conditions in parts of the country at the time, reflecting an exaggerated year-over-year growth for January 2020," he added. "Even so, the number of appointments per listing have gone up to record levels based on activity we see in our systems, suggesting that the housing market will be quite competitive this spring." The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, providing a benchmark to track buyer demand. ShowingTime facilitates more than five million showings each month. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Local MLS indices are also available for select markets and are distributed to MLS and association leadership. To view the full report, visit showingtime.com/showingtime-showing-index/. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers and other real estate companies, as well as a recruiting tool for brokers. ShowingTime products are used in 370 MLSs representing nearly one million real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
MORE >
NAR Announces New Cyber Liability Insurance Program for Realtors
MORE >
Missing: For Sale Signs Across West, Midwest and Northeast Markets
For more options, buyers need to go South SANTA CLARA, Calif., Feb. 18, 2020 -- The nation's record low housing inventory is making shopping for a home in Buffalo and Rochester, N.Y., Columbus, Ohio, and Salt Lake City feel more like the tech hubs of San Francisco, Silicon Valley and Seattle, according to a new analysis issued today by realtor.com® that ranks the toughest and easiest markets to find a home. Based on the analysis, San Jose, Calif., led the list of toughest markets to buy a home with four listings per 1,000 homeowner households. San Jose is followed in rank order by San Francisco, Rochester and Buffalo, N.Y., and Seattle, which had an average of 5.2, 6.1, 7.1 and 7.2 for sale homes per 1,000 households, respectively. This compares to the national average of 16 listings per thousand owner-occupied homes. At the other end of the spectrum, the top 20 easiest markets to buy a home had an average of 22 for sale listings per 1,000 households. Fort Myers, Fla., topped the list of easiest markets to buy with nearly 38 listings per 1,000 households. It was followed by two other Florida markets -- Miami/Fort Lauderdale with 31.8 listings per 1,000 households and Deltona/Daytona Beach/Ormond at 30.9 listings per 1,000 households. Bridgeport/Stamford/Norwalk, Conn., with 29.7 listings per 1,000 households, and North Port/Sarasota/Bradenton with 25.8 listings per 1,000 households, rounded out the top five easiest markets to buy a home. "While the nation's housing supply continues to hit new lows just in time for the spring home-buying season, local market differences remain," said realtor.com® Chief Economist Danielle Hale. "Although the toughest list is sprinkled with some of the markets you expect, others may be a surprise -- they represent markets where housing is still affordable, but quality of life makes them attractive markets, especially for first-time buyers." Hale added, "We also found that 'easiest' doesn't mean that a market is struggling. Buyers searching in easier markets generally benefit from a combination of strong availability of homes for-sale and, with some exceptions, healthy, yet more moderate price growth." To determine the toughest and easiest markets to find a home, realtor.com® looked at the density of home listings in each market relative to the available stock of owned homes in the area and compared that to the number of active listings in a market per 1,000 households during the fourth quarter of 2019. Toughest Markets to Find a Home The top 20 toughest markets include a diverse geographic mix of larger established metros and up-and-comers where housing is still relatively affordable. They are concentrated in three regions of the country -- eight metros from the West, six from the Midwest and six from the Northeast. None of the markets are located in the South, which dominates the list of top 20 easiest markets to find a home. California led the national list of toughest markets, with six of the top 20 toughest markets coming from the state. Ohio followed with three markets -- Columbus, Cincinnati and Akron -- making the top 20 toughest markets list. The scarcity of homes is reflected in the market prices, and the trend in most of the toughest markets is toward even fewer homes for sale. The average median listing price for the top 20 toughest markets was $480,830 in January, 40 percent higher than the average median price of the top 100 largest markets. In addition, 17 of the top 20 toughest markets began 2020 with double-digit annual declines in available inventory, with a handful of markets seeing more than a 30 percent drop, including San Jose, San Francisco, Seattle, Salt Lake City and San Diego. Realtor.com®'s ranking of the top 20 toughest markets to find a home Easiest Markets to Find a Home The South dominates the list of easy places to find a home. Florida metros claimed four of the top five spots and seven of the top 20 easiest markets to find a home. Connecticut has three markets represented, while South Carolina and Texas each have two. The average median listing price for the top 20 easiest markets was $356,345 in January 2020, 3 percent higher than the average median price of the nation's 100 largest markets. Despite having a good supply of inventory, asking prices are growing and the number of for sale listings is dropping. For instance, the Fort Myers metro saw asking prices grow 8 percent year-over-year in January, while inventory declined 22 percent during the same period, which was in line with national market demand. Realtor.com®'s ranking of the top 20 easiest markets to find a home Methodology Households refer specifically to owner-occupied household counts sourced from Claritas estimates based on Census data. Listing per 1,000 households calculations were performed using data from Q4 2019. The latest listing price and active listings year-over-year data are from January 2020. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
MORE >
Rental Beast Partners with Homes.com to Simplify the Rental Application
MORE >
Chime Partners with Verse.io to Arm Real Estate Professionals with High Quality Leads
Bundled solution addresses lead generation surplus and effectively generates, manages and nurtures sales ready leads for improved bottom line growth PHOENIX, Ariz. , Feb. 10, 2020 -- Chime Technologies, an operating system for the real estate industry, today announced a strategic partnership with Verse.io (formerly Agentology), a leading conversational marketing platform revolutionizing lead engagement across verticals, including the real estate market. Together, Chime and Verse.io will offer an end to end sales acceleration platform purpose-built for the real estate industry to effectively generate, manage and nurture high quality leads. Powered by both highly trained humans and artificial intelligence, this unique bundled offering, which has been developed to address the biggest pain points facing realtors today, will empower modern agents with the critical tools needed to eliminate time consuming tasks, strategically focus on sales ready leads, and effectively compete in today's market. To learn more about this partnership, visit HERE. To be successful, real estate professionals need to generate high quality buyer and seller leads, but lead generation within the real estate industry has become unwieldy. Over the last five years the number of real estate leads generated online has skyrocketed, while the number of homes sold year over year in the same time period has moved less than 5%. Recognizing this growing industry gap, Chime partnered with Verse.io to effectively engage and nurture the right leads for customers, helping to fill the funnel with sales ready buyers and sellers and get to a close faster. Verse.io's revolutionary lead engagement platform is powered by both real people and adaptive technology, saving valuable time, creating a better experience for both leads and sales and most importantly, helping to close more deals. By fueling Chime's sales acceleration platform with high quality leads, Verse.io will help agents feel even more confident pursuing identified leads and allow them to focus on their efforts on revenue generating activities. By eliminating time consuming tasks – countless phone calls and text messaging with low success rate – agents are empowered to strategically focus where it matters most and improve the bottom line. "Technology is a critical enabler to addressing our industry's lead conversion challenge and can dramatically help improve the number of closed deals," said Mike McGowan, Vice President, Sales, Chime. "The team at Verse.io shares in our mission to modernize the real estate industry by empowering today's agents and teams with innovative technology and best practices for sales and marketing. Together, we offer the most comprehensive sales acceleration platform on the market today, purpose built for the real estate industry and designed to improve the bottom line." "We're thrilled to partner with Chime to help give their real estate agents and brokers the leverage they need to accelerate sales efficiency," said Steve Gottlieb, Chief Marketing Officer at Verse. "Chime cares deeply about its partners, saving them time and helping them be more successful, and we're excited to help bring forward this unified solution to the industry." "The Chime/Verse.io solution is a tool all agents must have to be successful. The 'qualified' leads have proven to be legit and my conversion rates have increased dramatically," said Chad Lummus, Realtor, Coldwell Banker The Legacy Group. "By streamlining the process of vetting and scrubbing new leads, the bundled solution ensures I don't have to worry about wasting my time with bad phone numbers or emails. I recommend the Chime/Verse.io solution to any serious agent looking to increase efficiencies and productivity, eliminate time consuming tasks and improve the bottom line." About Chime Technologies Chime is an all-in-one Sales Acceleration Platform for the real estate industry headquartered in Phoenix, Arizona. Its award-winning productivity suite offers a robust set of features that help real estate professionals and teams of all sizes run and grow their business. Chime Technologies operates as a US subsidiary of Renren, Inc. (RENN). For more information, contact [email protected] or 888-682-4463, or visit www.chime.me. About Verse.io Verse.io is the leading conversational enablement platform that helps businesses engage, qualify and nurture prospects across multiple channels to drive full-funnel lead conversion and bridge the gap between marketing and sales teams.
MORE >
CoreLogic Reports U.S. Overall Delinquency Rate Lowest for a November in at Least 20 Years
MORE >
RICOH Tours Virtual Tour Company Partners with CubiCasa for Indoor Floor Plans
CUPERTINO, CA - February 14, 2020 -- RICOH Tours, one of the real estate industry's most complete and affordable mobile-first virtual tour solutions, has announced a partnership with CubiCasa, the industry-leading real estate data and technology company specializing in indoor data mapping. The collaboration allows agents and photographers to integrate 2D floor plans generated with CubiCasa's easy-to-use app into RICOH Tours' virtual tours. Users scan a property with CubiCasa's app to generate an accurate and high-resolution floor plan image and add to the RICOH Tours virtual tours platform. With floor plan integration, users are able to quickly provide an easy-to-digest, comprehensive overview of properties. Images can be pinned and labeled for clear, smooth transition between rooms - all from a mobile device. Harri Pesola, CEO at CubiCasa, said: "We are very happy to announce our partnership with RICOH Tours. Floor plans provide an overview of the layout of a property and allow you to visualize the location of the virtual tour images. The combination of both assets enhances the experience of any home buyer and helps them quickly understand the property, making this partnership a win for everyone." Martin Shock, Lead at RICOH Tours, said: "This collaboration brings the democratization of property marketing to the next level. With more than 90% of home buyers searching online for properties, floor plans and virtual tours rank highest as the 'very useful' features, according to a National Association of REALTORS® survey. This collaboration will enable us to address our clients' needs for access to fast and accurate floor plan services." About RICOH Tours RICOH Tours, headquartered in California's Silicon Valley and a service of Ricoh Company, Ltd, brings its world-class optical technology and virtual tour platform to deliver easy-to-use marketing tools for business use. Internal innovation is complemented by Open Innovation projects with a broad range of leading universities and forward-thinking companies from around the world. Ricoh's cameras and virtual tour platform allow anyone, regardless of their technical knowledge, to quickly and easily turn spaces in the real world into immersive virtual experiences. To learn more about RICOH Tours, please visit us here at www.ricohtours.com. About CubiCasa CubiCasa is the maker of a revolutionary app that allows you to scan a property in under five minutes using a mobile device and get a professional floor plan in less than one business day. Please visit our website at cubi.casa for more information.
MORE >