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Zillow Group acquires VRX Media to create national photographer network, elevate listing media through ShowingTime+ brand
VRX's real estate media services provide convenient, fast delivery to customers SEATTLE, Dec. 8, 2022 -- Zillow Group today announced it has closed on the acquisition of VRX Media. This real estate media marketing and services leader is known for its aerial drone photography, virtual staging, 3D tours, high-definition photography and fast-media delivery to clients, which is made possible through the company's national professional photographer network. Zillow Group will continue to offer VRX Media's services through the ShowingTime+ software suite. This acquisition will help fulfill ShowingTime+'s vision of offering elevated listing products and experiences to help agents differentiate their listings and provide better shopping and selling experiences to their clients. Through ShowingTime+ products, Zillow's aim is to set a higher standard in the industry by bringing new kinds of rich interactive media to more listings. "Listing media is a crucial part of selling a home, and we are focused on creating an immersive customer experience that makes listings stand out," said Jun Choo, senior vice president of ShowingTime+. "With VRX Media, ShowingTime+ will give agents elevated listing products unlike anything available today and will transform the way they prepare and market their for-sale listings." Seventy percent of sellers say they are more likely to hire an agent who includes virtual tours and/or interactive floor plans in their services, and 70% of sellers who included a virtual tour were more likely to receive an all-cash offer1. VRX's media services and capabilities will enable ShowingTime+ to provide two new products, Listing Media Services and Listing Showcase, which will be released in 2023. Listing Media Services and Listing Showcase are premium marketing products for listing agents that bring together photography services with high-quality listing media to create beautiful, interactive listings. About Zillow Group Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting, or financing with transparency and ease. Zillow Group's affiliates and subsidiaries include Zillow®; Zillow Premier Agent®; Zillow Home Loans™; Zillow Closing Services™; Trulia®; Out East®; StreetEasy®; HotPads®; and ShowingTime+™, which houses ShowingTime®, Bridge Interactive®, and dotloop® and interactive floor plans. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). About ShowingTime+ ShowingTime+™ is modernizing real estate for the benefit of all agents, brokers and multiple listing services (MLSs). A brand of Zillow Group, Inc., ShowingTime+ provides products and services to help real estate professionals streamline their businesses and deliver elevated experiences to their customers. The ShowingTime+ technology suite includes ShowingTime®, dotloop®, Bridge Interactive®, and 3D Home tours and interactive floor plans. ShowingTime+ products are used by hundreds of MLSs representing more than 1 million real estate professionals across the U.S. and Canada. For more information about ShowingTime+, visit https://showingtimeplus.com. About VRX Media VRX Media is a real estate marketing company and media services provider offering aerial drone photography, high-definition photography, virtual staging and 3D tours nationwide. Founded in 2015 by three real estate professionals with more than 30 years of combined industry experience, VRX Media provides media materials that help sell homes. In 2020, VRX Media was named one of America's Fastest Growing Companies by Inc.
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MoveEasy Raises $7 Million in Series A Funding to Accelerate Momentum for Its Home Management Platform
MoveEasy announced $7 million in Series A funding, led by Moderne Ventures with a strategic investment by The Travelers Companies, Inc. Today more than a million homeowners and 130,000 real estate agents have access to MoveEasy, the country's first fully integrated platform for all things home COLUMBUS, OHIO (DECEMBER 07, 2022) -- MoveEasy, the country's leading home management platform and concierge service, today announced $7 million in Series A funding, led by Moderne Ventures with a strategic investment by The Travelers Companies, Inc. MoveEasy previously raised $3.5M in seed funding from investors including Breaktrail Ventures, New Valley Ventures, Loud Capital and Pete Kight. The new capital will be used to accelerate product development, talent and expansion of its platform into new categories. MoveEasy is the nation's first fully integrated white labeled home management platform, empowering real estate brokerages, agents and mortgage partners to deliver unmatched value to clients. MoveEasy's platform and app provide clients with a holistic view of every decision that they make as homeowners – whether they are buying, selling, moving or managing their existing home. "While there are a number of personal finance apps that help homeowners manage subscriptions and save money, until now there hasn't been a way for people to manage their most valuable asset," said MoveEasy CEO Venkatesh Ganapathy. "That's what we've created with MoveEasy, an all-in-one platform simplifying every aspect of homeownership. With this new capital, we're investing deeply in innovation and people that extend our leadership position in the real estate industry, while also empowering partners across mortgage, insurance, and other sectors to deliver more value to clients." Why MoveEasy With new client acquisition costs at an all-time high, client loyalty efforts have never been more important for real estate agents and brokers. And yet, the real estate industry continues to have a loyalty gap — with just 12% of homeowners choosing to work with the same agent again. MoveEasy solves these challenges, allowing real estate partners to personalize their client experience by anticipating every homeowner decision. Agents can automate communications, share timely reminders on home-related tasks, and surface insights and exclusive discounts for top service providers across categories. Using MoveEasy's 360 dashboard and app, homeowners can compare hundreds of service providers including home insurance, internet and cable, home protection, energy, utilities, solar, and home improvement. MoveEasy's savings monitoring tool also automatically searches for the best prices, driving enhanced savings. Clients can also apply for new loans or refinance through their brokerage's mortgage partners, instantly check their home value, budget for home-related expenses, and see how every home update they make improves their home value and equity over time. All this builds on what is perhaps MoveEasy's most unique feature: every client is provided with a dedicated human concierge – available via phone, text or email to help with any moving or home management request while fully white labeled for the brand across all platforms. "In today's shifting market, real estate firms have an imperative to embrace innovation and adopt new ways to deliver value to clients across their entire journey as homeowners," said Constance Freedman, Founder and Managing Partner at Moderne Ventures. "MoveEasy is at the forefront of this change, delivering a best-in-class solution for home management that empowers brokerages and agents like never before. We are thrilled to lead this investment round and partner with MoveEasy as they continue to reshape the industry and provide homeowners with the tools they need to manage all things home." MoveEasy continues to build momentum with homeowners and partners across industries Since the beginning of 2020, MoveEasy has rapidly grown its customer base with more than 130,000 real estate agents and 1M homeowners now having access to its platform – leading to a 400% increase in revenue. Berkshire Hathaway HomeServices, Century 21, Howard Hanna, Douglas Elliman and RE/MAX are just some of major real estate partners nationwide that have adopted MoveEasy to deliver stellar service to clients. "Improving client engagement and loyalty starts with delivering value across every step in the homeowner journey" said Ganapathy. "MoveEasy empowers partners to create a stronger loyalty connection for their brand, while providing clients with an intuitive UI offering the broadcast spectrum of home related services on one platform." Cutting costs in the current economic environment has become increasingly difficult for companies and consumers alike. In addition to saving each homeowner an average of $420 a year, MoveEasy helps partners achieve an 18-20% lift to their core ancillary services as well as revenue for ancillary services directly integrated through the platform while providing significant improvements in client engagement, loyalty and referrals. About MoveEasy MoveEasy is the industry's first comprehensive home management and concierge platform designed to help the 139M homeowners in the US with all their moving and home management needs. MoveEasy's 360° dashboard provides access to service providers across multiple categories, a built-in savings calculator, a concierge service, and more. For real estate partners, MoveEasy is a fully white labeled turnkey concierge solution that helps partners customize and brand the platform to offer a true end to end lifetime concierge service for their clients. Today MoveEasy works with several national and regional clients in the real estate, insurance, mortgage, moving and corporate relocation sectors. For more information, visit http://www.moveeasy.com About Moderne Ventures Moderne Ventures is a strategic venture capital firm approaching $450 AUM. Moderne invests in technology companies in and around the multi-trillion-dollar industries of real estate, finance, insurance, ESG, and home services. It has both a Fund and an Industry Immersion Program, the Moderne Passport, designed to foster innovation, partnership and growth between industry partners and new emerging technology companies. Moderne has built an extraordinary network of over 700 executives and corporations within its core industries and evaluates over 4,500 emerging tech companies each year. Moderne most often looks outside its industries to find technologies that can be applicable within them, and it has invested in over 135 companies across its funds. Moderne has built a stellar track record investing in companies like DocuSign, Porch, Hippo, Homesnap, Caribou, Xeal and ICON. For more information, visit http://www.moderneventures.com.
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Second Century Ventures Opens Applications for 2023 REACH U.S. Programs, Appoints New Executive Director
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HomeZada Selected as the Winner in Wells Fargo Innovation Challenge
Consumer Fintech Application Empowering People to Manage Their Home SACRAMENTO, CALIFORNIA, UNITED STATES, November 29, 2022 -- HomeZada was selected as the winner in the Wells Fargo Innovation Challenge among seven finalists that presented at a recent Wells Fargo Innovation Summit. HomeZada's digital home management platform empowers consumers to manage, maintain, protect, and improve their largest financial asset. HomeZada addresses three of Wells Fargo's Multi X Innovation focused categories that include Assets, Commerce and Care. A home is most consumers' largest financial asset and consumers spend approximately 35% of their income on a myriad of home expenses such as home maintenance and improvement products and services. In addition, residential property is a large wealth generator and approximately $68 trillion in generational wealth transfer is expected over the next 10 to 20 years. HomeZada makes it easy for homeowners to view all the financial aspects of their home in one platform. "We are very appreciative for being selected the winner in the Wells Fargo Innovation Challenge," stated John Bodrozic, co-founder of HomeZada. "HomeZada is applicable for every generation of homeowner from Millennials and GenZ who expect innovative apps to help them manage their home to Boomers and GenX who are looking at aging in place, estate planning, and wealth management regarding their homes." "Wells Fargo is looking for solutions that delight consumers and can reimagine a new financial services relationship," said Madhu Narasimhan, EVP and Head of Innovation, Wells Fargo. "HomeZada presented their platform that enables deeper relationships with consumers throughout their continuous journey of homeownership while connecting our lending, payments and wealth management businesses in engaging ways." Over multiple weeks leading up to the finale of the innovation challenge, HomeZada and Wells Fargo mutually shared their visions for an interconnected financial world. This led to a great proof of concept that was presented to the judges. HomeZada looks forward to taking its platform to the next level. About HomeZada HomeZada is a Digital Home Management platform that empowers consumers to manage their largest financial asset, their home. The online and mobile solution combines apps, content, and data to help homeowner's mange a home inventory, a home maintenance schedule, home improvement projects and home finances. A Professional version helps companies in insurance, mortgage, real estate, home building, and home services the ability to create digital home information for their clients to increase renewals and referrals.
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RESAAS Expands Relationship with RE/MAX Across United States
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US Mortgage Delinquencies Remain Near Historic Low in September
The overall delinquency rate dropped for the 18th straight month on an annual basis IRVINE, Calif., November 23, 2022—CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for September 2022. For the month of September, 2.8% of all mortgages in the U.S. (approximately 1.4 million loans) were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 1.1 percentage point decrease compared to 3.9% in September 2021. To gain a complete view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency. In September 2022, the U.S. delinquency and transition rates, and their year-over-year changes, were as follows: Early-Stage Delinquencies (30 to 59 days past due): 1.2%, up from 1.1% in September 2021. Adverse Delinquency (60 to 89 days past due): 0.4%, up from 0.3% September 2021. Serious Delinquency (90 days or more past due, including loans in foreclosure): 1.2%, down from 2.4% in September 2021 and a high of 4.3% in August 2020. Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.3%, up from 0.2% in September 2021. Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.6%, unchanged from September 2021. Overall U.S. mortgage delinquencies again hovered near record lows in September, with every state and all but one metro in Illinois posting at least slight annual declines. However, with a potential recession and projected increase in the national unemployment rate looming, some uptick in delinquency rates could be expected in 2023. That said, 99% of homeowners with a mortgage have locked in rates below 6%. As a result, even if delinquency activity posts a minor increase, it is unlikely to cause the type of housing downturn seen during the Great Recession, when questionable underwriting practices allowed buyers to take out mortgages that exceeded their budgets. "All stages of delinquency remained low in September," said Molly Boesel, principal economist at CoreLogic. "Early-stage, overall and serious delinquencies were either at or below their pre-pandemic rates. Low unemployment, which has also returned to the level seen before the COVID-19 outbreak, is contributing to strong mortgage performance. However, if the U.S. enters a recession, increases in delinquency rates can be expected." State and Metro Takeaways: In September, all states posted annual declines in overall delinquency rates. The states with the largest declines were Louisiana (down 2.9 percentage points); as well as Hawaii, Nevada and New Jersey (all 1.8 percentage points). The remaining states, including the District of Columbia, registered annual delinquency rate drops between 1.7 percentage points and 0.3 percentage points. All but one U.S. metro area posted at least a small annual decrease in overall delinquency rates, with only the Decatur, Illinois metro registering a 0.2 percentage point gain since September 2021. All U.S. metro areas posted at least a small annual decrease in serious delinquency rates, with Odessa, Texas (down 4.1 percentage points), Laredo, Texas (down 3.2 percentage points) and Midland, Texas (down 2.9 percentage points) posting the largest decreases. The next CoreLogic Loan Performance Insights Report will be released on December 29, 2022, featuring data for October 2022. For ongoing housing trends and data, visit the CoreLogic Intelligence Blog. About CoreLogic CoreLogic is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
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Inside Real Estate's Fall '22 Release Helps Customers Thrive in Ever Changing Industry Landscapes
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LeadingRE Adds HomeStack to Solutions Group Program
HomeStack offers a custom branded mobile app tailored to real estate teams of all sizes. CHICAGO – (November 1, 2022) – Leading Real Estate Companies of the World® has added HomeStack to its Solutions Group program of preferred business resources for its global network of 550 market-leading real estate firms. HomeStack codes, develops, distributes and maintains white-labeled mobile applications for real estate teams and brokerages. HomeStack's tailored app can be utilized by brokers, agents and buyers. Brokers can use the application for recruiting, retention and tracking agent productivity. Agents can utilize the app to improve communication and collaboration with clients. HomeStack provides consumers with easy-to-use mobile application for a personalized home search experience. "In our mobile world, having a powerful app is essential. HomeStack makes it easy for brokerages to build their own user-friendly app with powerful tools for brokers, agents and clients. HomeStack helps drive productivity and leads for brokers and agents, while simplifying the home search process for consumers," said LeadingRE Vice President, Sales/Partnerships Jeff Kennedy. Operating in over 30 states with exclusive listings feature that allows users to input inventory, HomeStack is well-positioned to serve LeadingRE's membership. "Since inception, HomeStack has cultivated strong relationships with the best independent real estate companies in the world. When we reflect on these relationships, there are a few traits that separate them from the rest. These brokerages all have tremendous leadership and disciplined agents, and they are a part of LeadingRE. We value our relationship with LeadingRE and the real estate community that is a part of it. As Henry Ford puts it, 'Coming together is a beginning, staying together is progress, and working together is success,'" explained Will Grewal, CEO of HomeStack. Learn more about HomeStack at www.homestack.com. Learn more about Leading Real Estate Companies of the World® at www.LeadingRE.com. About HomeStack HomeStack is the leading mobile application development company in the real estate tech space. We provide a comprehensive branded app tailored to brokerages and teams of all sizes. HomeStack's white labeled mobile apps empower millions of people – from buyers and sellers to individual real estate agents, teams, and brokerages. HomeStack provides clients with the most impactful, stylish and easy to use mobile application for a personalized home search experience. About Leading Real Estate Companies of the World® Chicago-based Leading Real Estate Companies of the World® (LeadingRE.com) is a global network of top independent real estate firms, with 550 companies and 136,000 sales associates in over 70 countries. LeadingRE supports its members with powerful connections to other market leaders and access to innovative, performance-driven programs. LeadingRE is also active in commercial real estate, with over 200 firms in 20 countries specializing in the commercial arena.
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Transactly Now Affiliated with eXp Realty
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Inside Real Estate Acquires AmpStats, offering brokerages access to new data-driven recruiting, retention and talent development technology to expand market share
Inside Real Estate’s acquisition of AmpStats represents their ongoing commitment to innovation leadership for their 400k customer base MURRAY, UTAH - OCTOBER 24, 2022 -- Inside Real Estate, one of the fastest-growing independently owned real estate software companies and a trusted technology partner to over 400,000 agents, teams, brokerages and top franchise brands, announced the acquisition of AmpStats, a modern technology focused on harnessing data to drive intelligent decisions for brokerages around recruiting, retaining and talent development. AmpStats enables real estate brokerages to simplify agent recruiting, retention and talent growth across multiple markets and offices. AmpStats delivers unprecedented visibility into key performance metrics, helping brokerage leaders stay one step ahead to ensure maximum productivity and loyalty amongst their existing agent base. When it comes to recruiting new talent, brokers can quickly identify the right candidates with search features that show production data, a transaction heat map, and agent movement to pinpoint the best recruiting targets. Once the conversation is started, brokers can easily demonstrate their impact and value to prospective recruits through a compelling, visual net income comparison that breaks down agent earnings like never before. “AmpStats arms brokerages and their leadership with the actionable intelligence they need to increase productivity and strategically expand market share,” says Joe Skousen, CEO at Inside Real Estate. “We are thrilled to welcome AmpStats to the Inside Real Estate family. Jay has done a fantastic job building a product that at its core addresses one of the most important growth components for brokers which is managing overall talent. We look forward to integrating AmpStats into our ecosystem, creating a truly seamless, data-driven recruiting & retention solution to help our clients maximize business growth.” “With real-time access to data, brokers have business and competitive intelligence at their fingertips like never before,” says Jay Teresi, Founder & CEO at AmpStats. “I’m thrilled to join such a great organization, where, together, we can expand the reach of AmpStats tremendously, helping even more real estate brokers achieve higher profitability.” The acquisition represents Inside Real Estate’s ongoing commitment to providing the most innovative, high-value solutions to help their 400k+ agents, teams and brokerages succeed. Just recently, the company announced the industry’s first-ever lifetime homeownership technology, CORE Home, giving Inside Real Estate customers a simplified solution to maintaining customers for life. Jay Teresi will join the Inside Real Estate family as a member of the leadership team supporting back-office initiatives. AmpStats will continue to be available as a standalone product offering for brokerages in select markets. In the coming months, AmpStats will also be integrated into the kvCORE Platform and available to purchase by new and existing brokerage customers. About Inside Real Estate Inside Real Estate is a fast-growing, independently-owned real estate software firm that serves as a trusted technology partner to over 400,000 top brokerages, agents, and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable, and flexible architecture, kvCORE enables every brokerage to create its own unique technology ecosystem through custom branding, robust integrations, and high-quality add-on solutions. With an accomplished leadership team and its talented staff of 250 employees, Inside Real Estate brings the resources, scale, and vision to deliver ongoing innovation and success to their growing customer base.
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Redfin Reports Sellers' Time on Market Doubles from Spring as Buyers Wait for Prices and/or Rates to Come Down
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CFPB Launches Effort to Spur New Opportunities for Homeowners in the Mortgage Market
Agency seeks information on refinances, mortgage products to promote competition and support household financial stability Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances. The agency also seeks public input on ways to support automatic short-term and long-term loss mitigation assistance for homeowners who experience financial disruptions. The CFPB will use this information as it considers steps to support household financial stability and address refinance market gaps. Today's initiative is part of a broader CFPB effort to promote competition and innovation in consumer finance markets. "The mortgage market has not provided products that allow all households to save money by refinancing at a lower interest rate," said CFPB Director Rohit Chopra. "We are eager for input on ways that borrowers taking out loans today can refinance to lower rates in the future." Mortgage payments are often a household's single largest expenditure, so the terms of a mortgage greatly impact a household's financial stability. When interest rates decline, many borrowers benefit from the lower rates by refinancing their loans. For example, researchers at the Federal Reserve Bank of Boston found that total consumer savings from mortgage refinancing from January 2020 to October 2020, during the refinancing boom, was $5.3 billion annually. The typical consumer saved nearly $300 a month ($279) from refinancing during that period. The savings from refinancing a mortgage at a lower rate can translate into increased wealth and equity for borrowers. However, mortgage refinancing can be harder to access for borrowers with smaller loan balances. Black and Hispanic borrowers, who on average have smaller loans, have not participated in recent refinance booms at the same rate as white borrowers. Refinancing volume has dropped dramatically, down almost 70% from last year, as interest rates have risen. New streamlined and automatic refinancing mortgage products could make sure that those buying a home now, or refinancing to cover other needs, are able to benefit from the next interest rate drop. Periods of economic turmoil can pose significant challenges for mortgage borrowers. At the height of the COVID-19 pandemic, for example, millions of borrowers lost jobs and income and were at risk of losing their homes. Forbearance protections, passed by Congress via the CARES Act, allowed millions of homeowners with federally-backed mortgages to temporarily stop their monthly mortgage payments. Many servicers of mortgages that did not qualify for CARES Act protections followed the government's lead and offered similar protections. Over the course of the pandemic, 8.2 million borrowers entered a forbearance program, and as of July 2022, 93% have exited. Of those who have exited forbearance, only 5% are delinquent or in active foreclosure. The CFPB is interested in the features of these pandemic-related forbearance programs that should be made more generally available to borrowers, and in particular, if there are ways to automate and streamline the offering of long-term loss mitigation assistance. Specifically, the CFPB is requesting information about: Targeted and streamlined refinance programs: Targeted and streamlined refinance programs have been used to improve refinancing, typically with lower transaction costs than traditional refinances. Refinance programs can lead to lower monthly payments and interest rates for homeowners who previously would have been unlikely or unable to refinance. Innovative refinancing products, such as automatic refinancing: Such products might automatically trigger an offer to refinance or automatically reduce a loan's interest rate in certain circumstances. This could help homeowners who currently face barriers to refinancing, including those with lower-balance mortgages, access beneficial refinancing. Automatic forbearance and long-term loss mitigation assistance: Mortgage products with automatic forbearance features may help ensure that homeowners whose incomes or financial situations are affected by events, such as natural disasters, are able to receive timely payment relief that could help them avoid foreclosure and provide increased household financial stability. Additionally, such automatic forbearance features could provide benefits for mortgage servicers and holders as well. Competitive mortgage markets promote opportunities for wealth creation and promote broader household financial stability. Today's request for information seeks innovative and timely ideas to address persistent market failures and to help borrowers access beneficial refinancing along with short- and long-term loss mitigation assistance. Public input will help inform future policy initiatives, rulemaking, and other mortgage competition and innovation initiatives. The request for information announced today is an example of the CFPB's new approach to promoting competition and new products. As announced in May, rather than providing special regulatory treatment of individual firms, the CFPB will seek to identify stumbling blocks for those seeking to challenge the status quo with new products or services. The Paperwork Reduction Act authorization for the CFPB's Compliance Assistance Sandbox and No Action Letter Policies expires on September 30, 2022, so the CFPB will no longer be accepting or processing applications submitted through those Policies after that date. Read the Request for Information Regarding Mortgage Refinances and Forbearances. The deadline for submitting comments is 60 days after publication in the Federal Register. Read Director Chopra's prepared remarks at the Exchequer Club, discussing today's announcement. Read the Statement on Competition and Innovation. Learn more about refinancing and loss mitigation. Learn more about CFPB's Office of Competition and Innovation. Consumers having an issue with a consumer financial product or service can submit a complaint with the CFPB online or by calling (855) 411-CFPB (2372). About The Consumer Financial Protection Bureau The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit www.consumerfinance.gov.
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LeadingRE Selects Virtuance and Diakrit for Solutions Group Program
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Redfin Reports Lurching Mortgage Rates Spook Homebuyers
Homebuyers have lost 29% of their purchasing power since rates bottomed out in early 2021. Home prices remain elevated due to low supply, but early demand signals weakened sharply last week. SEATTLE -- Early indicators of homebuying demand show an accelerated pullback last week as mortgage rates shot up to a 15-year high, according to a new report from Redfin, the technology-powered real estate brokerage. This chart was made by analyzing Freddie Mac's Primary Mortgage Market Survey. The chart assumes a 20% down payment, annual property tax of 1.25% of the purchase prices and annual insurance of 0.5% of the purchase price. (Graphic: Redfin Analysis) Home tours fell 7% and mortgage purchase applications declined 13%. Redfin’s Homebuyer Demand Index, a measure of requests for home tours and other home-buying services, fell 6% last week to its lowest level since mid-June, when mortgage rates first jumped toward 6%. Homebuyers have lost 29% of their purchasing power as the average 30-year-fixed mortgage rate climbed from 2.65% at the start of 2021 to 6.66% today. "Mortgage rates well over 6% are spooking homebuyers,” said Redfin Deputy Chief Economist Taylor Marr. “Sellers are pulling back in this market, but buyers are pulling back even more. Home prices are holding steady for now. It will take a few months before the prices of closed sales start to reflect this shock to the market. However, there is evidence of sizable price declines in parts of the market that aren't accounted for by MLS data, such as home builders offloading homes in bulk at a 20% discount." Leading indicators of homebuying activity: For the week ending October 6, 30-year mortgage rates declined slightly to 6.66%. Fewer people searched for “homes for sale” on Google. Searches during the week ending October 1 were down 33% from a year earlier. The seasonally adjusted Redfin Homebuyer Demand Index declined 10% in the past three weeks to its lowest point since the week ending June 19. The index was down 26% year over year, and fell below the level at the same time in 2020. Touring activity as of October 2 was down 26% from the start of the year, compared to an 8% increase at the same time last year, according to home tour technology company ShowingTime. Mortgage purchase applications during the week ending September 30 were down 13% week over week, seasonally adjusted, to the lowest level since October 2015. Purchase applications were down 37% from a year earlier. Key housing market takeaways for 400+ U.S. metro areas: Unless otherwise noted, this data covers the four-week period ending October 2. Redfin’s weekly housing market data goes back through 2015. The median home sale price was $367,652, up 7% year over year. Home sale prices in San Francisco fell 1.4% year over year. Neighboring Oakland, CA, where prices fell 3.4% and New Orleans (-9%) were the only other metro areas that saw year-over-year median-sale-price declines. The median asking price of newly listed homes increased 9% year over year to $383,000. The monthly mortgage payment on the median-asking-price home climbed to a record $2,528 at the current 6.66% mortgage rate, up 49% from $1,701 a year earlier, when mortgage rates were 2.99% and up from a recent low of $2,209 during the four-week period ending August 14. Pending home sales were down 25% year over year, the largest decline since May 2020. New listings of homes for sale were down 18% from a year earlier. Active listings (the number of homes listed for sale at any point during the period) fell 1% from the prior four-week period. On a year-over-year basis, they rose 3%. Months of supply—a measure of the balance between supply and demand, calculated by dividing the number of active listings by closed sales—increased to 3.0 months, the highest level since July 2020. 35% of homes that went under contract had an accepted offer within the first two weeks on the market, little changed from the prior four-week period but down from 40% a year earlier. 24% of homes that went under contract had an accepted offer within one week of hitting the market, little changed from the prior four-week period but down from 28% a year earlier. Homes that sold were on the market for a median of 32 days, up a full week from 25 days a year earlier and the record low of 17 days set in May and early June. 31% of homes sold above list price, down from 45% a year earlier and the lowest level since February 2021.On average, 7.7% of homes for sale each week had a price drop, a record high, and up from 3.9% a year earlier. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, fell to 99.1% from 100.7% a year earlier. This was the lowest level since August 2020. View the full report, including charts, here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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New SkySlope Feature Enables Transaction Coordinators to Complete Forms for Agents
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Chime Acquires Rentancy to Extend Application of Award-Winning Platform to Property Management Market
Addition of property management software and services enhances back-office capabilities to support end-to-end real estate process Phoenix, AZ - September 28, 2022 -- Chime Technologies, an award-winning real estate technology innovator, today announced it has acquired Rentancy, a provider of innovative property management software and services. With a shared mission to streamline and automate the time consuming, manual tasks typically associated with the real estate process and an unwavering commitment to innovative technology development, Chime and Rentancy will deliver a more comprehensive platform to address the entire real estate process from end to end. To learn more about Chime's platform, visit HERE. Designed to improve property rent collection, accounting, and cash flow management for both residential and commercial properties, Rentancy's unique software and services help real estate professionals stay focused on delivering stellar client service and growing their business. Rentancy's flexible business model has proven to help boost profits, unleash cash flow, and simplify operations for customers across the UK. The addition of Rentancy to the robust Chime platform will enhance and streamline back-office capabilities and tenant sourcing operations to support the entire real estate lifecycle. Through this integration, Chime is well poised to deliver the technology solutions agents need to be successful in property management, a global market projected to grow to nearly $20 billion in 2022. This news comes on the heels of several new Chime products unveiled this year including the Enterprise Platform, Active Recruiting, and Social Studio, to support the unique needs of Chime's nearly 40,000 active users. The acquisition provides opportunity for geographic expansion across EMEA and underscores a commitment to delivering an end-to-end real estate business platform, purpose-built to help strategic real estate professionals succeed in an increasingly competitive market. "Our mission is to provide the best technology tools and collaboration platform to help EVERY real estate professional globally thrive and prosper in today's highly competitive, technology-enhanced world," said Joe Chen, CEO, Chime. "With Rentancy, we are at the beginning of a long-term product and business development journey expanding into European markets and global property management SaaS space." "The natural synergy between Rentancy and Chime was clear from the start and we are delighted to be part of the team," said Kurt Lyall, Founder & CEO Rentancy. "By combining our property management software and services with Chime's award-winning sales acceleration platform, we can offer a complete real estate business solution that streamlines operations and empowers our clients to focus on building their business." To learn more about Chime, visit HERE. About Chime Technologies Chime is an award-winning real estate technology innovator headquartered in Phoenix, Arizona. Our AI-powered platform empowers real estate professionals, teams, and brokerages with the tools they need to automate lead generation operations, drive conversions, and grow their business. For more information, visit www.chime.me.
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Redfin Reports Rising Prices Amid Falling Demand and Supply Reflect a 'New Weird'
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MoxiWorks continues to grow open platform through their partner program with new partners and deeper integrations
In an effort to build a faster and easier real estate experience, MoxiWorks continues to grow and evolve their MoxiCloud offering to help brokerages and their agents thrive Seattle, WA (September 22, 2022) -- MoxiWorks, the leading real estate technology platform, announced recent updates to their open platform, also known as the MoxiCloud, by welcoming a deeper integration with Union Street Media and MoveEasy and ushering in a new face to the partner network with Honely. The MoxiCloud is the industry's first and only truly open platform allowing brokerages to build the tech stack that is right for them. With more than 150 partners MoxiWorks is continuously working to bring more integrations and new partners to give brokerages choice when building their tech stack. "We believe every brokerage should have the power to plug and play the solutions they want, to build the tech stack that will meet their needs and the needs of their agents," said MoxiWorks COO, Jim Crisera. "We are thrilled to be deepening our integration with Union Street Media and MoveEasy, two long-time MoxiCloud partners, and we're excited to welcome Honely into the fold. The more high-quality integrations and partners we can add to the mix, the better for the industry as a whole." Union Street Media provides full-service digital marketing and website solutions for real estate brokerages, teams and agents. They have been part of the MoxiCloud for more than 4 years and have worked to deepen their integration to offer MoxiWorks brokerages customized solutions that allow them to compete in an ever-changing market. "We've found that brokerages and teams simply want more," said Ted Adler, Founder & President. "Union Street Media and MoxiWorks's reimagined partnership combines custom digital marketing solutions and award-winning websites with best-in-class tools for a true lead to close solution. When a brokerage really wants to stand out and be more profitable Union Street Media and MoxiWorks are a perfect match." MoveEasy's mission is to take all the overwhelming and stressful moments of being a homeowner and make them easy through technology and the support of a personal assistant. "As a long-standing partner, MoveEasy has a shared focus and vision with MoxiWorks around empowering real estate agents to build lifelong client relationships," said MoveEasy CEO Venkatesh Ganapathy. "Now we're thrilled to further expand on our partnership with one of the deepest integrations with MoxiEngage in the industry. Brokers who use MoxiWorks to nurture sales leads can now access MoveEasy's industry-leading moving and home management platform. Agents can engage with their entire sphere of influence and deliver unprecedented value to current and past clients as well as prospects, creating stronger engagement, loyalty, and referrals." Honely harnesses the transformative power of predictive analytics to deliver real estate data analysis instantaneously to investors and home buyers alike. "Honely is excited to partner with MoxiWorks and begin assisting their impressive network of agents. Honely offers a unique, effective, and low-cost tool for capturing buyer and seller leads organically rather than overpaying." To learn more about how the MoxiCloud can help your brokerage visit moxiworks.com/how-it-works. Interested in becoming part of the open network? Check out moxiworks.com. About MoxiWorks MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 800 brokerages and 400,000 agents nationwide, accounting for more than 20% of the transactions in the U.S. MoxiWorks' customer retention over the past seven years stands proudly at 97%. Their integrated tools are centered on sphere methodology that increases agents' repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 100 partners that integrate to create unique brokerage solutions.
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Collabra Technology Hires Former Zillow, eXp Realty, Radian Executives to Lead Marketing and Product Development
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RentSpree Partners with Form Simplicity to Boost Rental Tech Tool Offerings
LOS ANGELES (Sept. 13, 2022) -- RentSpree, the industry's premier end-to-end rental management software provider, officially announced its partnership with Form Simplicity, a digital real estate transaction management platform owned and operated by Florida Realtors®. Integrating RentSpree's online standard rental application and screening platform with Form Simplicity will further enhance each companies' ability to help expedite the still often fragmented leasing process. Form Simplicity gives real estate agents and brokers the tools to create, manage, share, sign and store transactions digitally in the cloud. Users can also create and edit transactions on their mobile devices such as creating time-saving templates, and grouping and populating frequently used forms with pre-populated data. "The integration of RentSpree into Form Simplicity helps boost the power of the digital transaction," said Florida Realtors CEO Margy Grant. "Renters are the largest group of future homeowners, and with RentSpree, agents can seamlessly assist and connect the various steps within the rental process to help clients find their way home." RentSpree offers an all-in-one suite of tools, including background and credit checks, rent estimates, renters' insurance and rent payment. Its Agent Tools feature supports holistic rental management for agents, from advertising and nurturing leads to seamlessly diversifying their client portfolio, as well as supporting their rental clients' transition to homeownership in due time. "Our continued mission is to simplify the often discombobulated and outdated rental process," said RentSpree CEO and Co-Founder MIchael Lucarelli. "Partnering with Form Simplicity helps us to provide additional services to agents' and brokers' repertoire of tools that help them cut down on the time wasted on inefficient processes and paperwork." He added, "In order to provide the highest services to agents, owners and renters alike, we are continuously looking to identify partnerships not just in the MLS & association space but also with proptech innovators, such as Form Simplicity." About Form Simplicity Form Simplicity's cloud-based digital transaction management platform is a cost-effective solution available to Realtor Associations, MLS systems, and brokerage firms nationwide. Tech Helpline, the real estate industry's number one tech support service, supports Form Simplicity. Form Simplicity and Tech Helpline are wholly owned and operated by Florida Realtors based in Orlando, Fla. Learn more at formsimplicity.com. Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to more than 225,000 members in 51 boards/associations. Florida Realtors® Newsroom website is available at floridarealtors.org/newsroom. About RentSpree Los Angeles-based RentSpree is a provider of award-winning rental software that helps seamlessly connect real estate agents, owners, and renters to simplify and automate the entire rental process, from listing to lease. The all-in-one platform is known across all 50 states for its easy and secure interface and suite of rental tools, including tenant screening, rent payments, marketing and renter management. To date, RentSpree has partnered with more than 250 of the most influential MLSs, real estate associations and brokerages to serve over one million users in the U.S. RentSpree is ranked 625th on Inc. 5000's fastest-growing private companies in 2022. Visit www.rentspree.com for more information.
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Constellation1 Partners with Local Logic to Provide Deeper Local Intelligence Insights for Residential Real Estate Listings
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Matterport Reinvents the Digital Twin with the Revolutionary Pro3 Camera and New Cloud Platform
Breakthrough innovations in 3D capture technology and AI-powered digital twin software create new ways for enterprises to market and manage properties digitally SUNNYVALE, CA -- Matterport, Inc. today introduced the all-new Matterport Pro3 Camera along with major updates to its industry-leading digital twin cloud platform. The Pro3 is a breakthrough in 3D capture technology, ready to digitize every aspect of the physical world, indoors and outdoors. Matterport's next-generation digital twin platform builds on the company's groundbreaking immersive virtual experiences to enable advanced workgroup collaboration and productivity, delivering cost savings and revenue growth for organizations of all sizes, from small businesses to global enterprises. These new offerings arrive as global demand for digital twins – visually immersive, interactive 3D models of buildings and spaces – continues to rise. Forrester Research reports 55% of global software technology decision makers are already adopting digital twins. As an industry leader, Matterport saw 52% growth in total subscribers in the second quarter compared to the year ago period, and already serves 23% of the Fortune 1000 with its digital twin platform. "Today marks a pivotal breakthrough in 3D technology with the introduction of the most powerful products Matterport has ever created," said RJ Pittman, Chairman and Chief Executive Officer, Matterport. "Our new Pro3 camera and cloud platform create some of the world's most accurate, immersive, and stunning digital twins. The opportunity has never been greater for companies to embrace the power of Matterport digital twins to transform their business." Matterport for Enterprise Digital twins empower business leaders to confidently navigate an uncertain economic environment while accelerating the productivity of a mobile and remote-first workforce; 79% of business leaders cite cost savings and 71% point to operational efficiencies as the key drivers of their digital twin investments. It's why the new Pro3 camera and cloud platform were built for the demands of enterprises with scalability, reliability, and security at the core, making Matterport's digital twin platform one of the most trusted in the industry. The new Pro3 camera and cloud platform advancements make it easier than ever for customers to create immersive digital twins. Customers across sectors – factories, retailers, hotels and airlines – report digital twins have reduced project times by 30% and cut travel expenses by up to 50% through greater remote collaboration. One commercial real estate customer reported closing sales up to 85% faster. Hospitality customers find bookings and occupancy rates increase 14% for properties with a digital twin. The benefits aren't just for large enterprises – real estate agents using digital twins win up to 74% more listings and 71% of residential buyers say they would buy a home sight unseen if it had a 3D digital tour. The Matterport Digital Twin Platform Matterport has reimagined the cloud software platform that creates, publishes, and manages digital twins of buildings and spaces of any size or shape, indoors or outdoors. All of these new capabilities integrate seamlessly so customers can securely create immersive environments for their employees, customers and partners to collaborate and explore. Maximize productivity from a single digital twin with a new workgroup collaboration framework called Views, to enable groups and large organizations to create separate, permissions-based workflows to manage different tasks with different teams such as: virtual inspections, remote training, space planning, personalized virtual tours, and so much more. Views create separate, permissions-based workflows from a single digital twin Increase customer engagement, productivity and sales conversions with all-new Guided Tours and Tags to elevate the visitor experience. Now marketing and sales teams can create directed virtual tours of any commercial or residential space tailored to the interests of their visitors, and operations teams can create guided virtual training courses for remote workers. Go further with Matterport Capture Services, now supercharged with the new Pro3 camera to get the highest quality professional digital twin from an on-demand capture technician in major cities around the world. Capture Services for Enterprise can now digitize a single space to a portfolio of thousands of buildings, indoors and out. From retail chains to hotel property groups and corporate campuses – it has never been easier to get a dimensionally accurate, photorealistic Matterport digital twin to manage properties online. Matterport Capture Services brings your property to life, available on-demand globally Take the entire Matterport platform wherever you go with a fully enabled mobile solution that brings together capture, customization, view, edit, publish and restore capabilities to digital twins with the new Matterport App for iOS and Android devices. Immersive collaboration available anywhere with the Matterport App The Matterport Pro3 Camera The Matterport Pro3 Camera provides the highest accuracy digital twins of indoor and outdoor spaces The Matterport Pro3 Camera is the most advanced Matterport 3D capture device with a powerful combination of sensors working in harmony to create stunning images, both indoors and outdoors. No other camera combines the incredible power of this device at this price point, making 3D capture more widely accessible. With a custom 20 megapixel sensor and 12-element lens covering an ultra-wide angle, the Pro3 camera produces accurate, detailed digital twins in brilliant, life-like color. Breakthroughs in the high-precision LiDAR sensor enable the capture of millions of measurements in various conditions, from dim light to direct sunlight, up to a range of 100 meters at less than 20 seconds per sweep. The custom 20MP Pro3 lens covers an ultra-wide angle for life-like digital twins in any environment The Pro3 camera revolutionizes 3D capture, setting new standards for speed, fidelity, versatility and accuracy. Where interactive mesh previously had a 50k polygon limit, it is now unlimited and the mesh for large spaces can easily exceed one million polygons. New digital twins are now streamed on demand as the user moves through a space, available on mobile and web platforms for all users for faster load times, quicker frame rates, and much more detail without compromising performance. Matterport's Cortex AI engine is upgraded to capture 5x higher range, enabling customers to transform their interior and exterior spaces, even when encountering difficult foliage, lighting and reflective surfaces. The combined power of the new Matterport Digital Twin platform, Pro3 and upgraded Cortex AI result in some of the most accurate, immersive and stunning digital twins ever created. "The Pro3 camera reflects years of advanced R&D and listening closely to our customers. The result is a breakthrough in 3D capture technology," said Lou Marzano, Vice President of R&D and Manufacturing. "The demands of the digital-first industry push our product standards to new levels, making precision, range, and mobility critical to our customers' success. We put all of this together into a portable device that achieves a new threshold for price-to-performance of commercial LiDAR capture. Some of our largest enterprise customers have already put Pro3 to the test – capturing large outdoor venues from stadiums to campuses with speed and accuracy never before seen. Like the Pro1 and Pro2 that came before it, the Pro3 camera is in a class by itself and I am so proud of the team behind yet another industry first." The Pro3 camera is Matterport's lightest and most compact camera, designed for maximum portability With a striking new design that's uniquely Matterport, Pro3 is packed with groundbreaking features including: Custom built 20 megapixel sensor and 12-element lens for ultra-wide capture of large spaces Captures 100k points per second at depths ranging from 0.5m to 100m High-precision LiDAR sensor for unparalleled precision in various light conditions Camera boot time of less than 40 seconds Removable battery packs for continuous scanning, batteries fully recharge in 3.5 hours Weighing under five pounds, Pro3 is 30% smaller and 35% lighter than the Pro2 camera New tripod mount engineered for Pro3 and new cases for maximum portability and protection Pricing and Availability The Matterport Pro3 Camera is available for purchase at matterport.com/pro3 or through one of Matterport's partners, including: Amazon, B&H Photo and Video, and Adorama. Matterport Pro3 Camera is priced at $5,999 USD and includes: Pro3 Camera in Carry Case One Tripod Mount One Battery and Charging Kit One Year Warranty The Matterport Pro3 Acceleration Kit offers the best value at $7,995 USD. This bundle includes everything needed for a full day of capture: Pro3 Camera in Carry Case 10 Matterport E57 high density point cloud files to complete large projects quickly ($890 USD value) 10 MatterPaks to extract floor plans, point cloud files, and OBJ files from digital twins ($500 USD value) One Tripod Mount Two Batteries with One Charging Kit One Tripod, Wheeled Dolly, Two Door Stops, One Hard Case, and One Backpack 3-year Warranty on Pro3 Camera and Tripod Mount ($2,000 USD value) Accessories available separately in the US, UK and European Union through Amazon. For pricing information, visit Matterport's website. Pro3 camera availability varies by region. Customers in North America may place orders today with estimated shipments in early September 2022. Customers in the UK & EU region can place orders with estimated shipments in early October 2022. Customers in the APAC region can place orders online with estimated shipment of early October 2022. For more information about the Pro3 camera and Matterport's new digital twin platform, visit matterport.com. About Matterport Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at Matterport.com and visit our Discover page to browse a collection of digital twins captured by our customers.
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RentSpree Raises $17.3 Million in Series B, Propelling Continued Growth in the Booming Rental Market
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Keller Williams Launches New Global Brand Tagline
"Where Entrepreneurs Thrive" symbolizes KW's commitment to real estate agent business success AUSTIN, TEXAS AUGUST 24, 2022 -- Keller Williams (KW), the world's largest real estate franchise by agent count, announced today the launch of a new brand tagline, "Where Entrepreneurs Thrive," at Mega Camp, a KW-powered annual real estate training conference. "We went on a mission to define our decades-long purpose," said John Keller, head of transformation at KW. "And, we ended up right where we began." "We will continue to build the place where entrepreneurs thrive," said Keller. "It's what we're built to do, what we love to do, and what the industry needs us to do." Via a video presentation, Keller unveiled the new tagline to more than 11,300 Mega Camp attendees: "At Keller Williams, we want to continue to earn the right to be the home of the dreamers, the doers, the entrepreneurs – the hundreds of thousands of you who have dreamed and built your own business and, in the process, built ours," said Keller. "We are reigniting a culture of supporting entrepreneurial visionaries," said Keller. Along with reinforcing KW's position within the real estate industry, the new tagline is part of the company's ongoing transformation and enduring commitment to fuel unlimited growth for real estate entrepreneurs via training, coaching, and solutions. "You're living in a home built for entrepreneurs to thrive," said Keller. "And true entrepreneurs don't have to wait for doors to open for them. After all, we have our own lockboxes." As part of a business-to-business marketing campaign, KW will roll out the new tagline in 2022. About Keller Williams Austin, Texas-based Keller Williams (KW), the world's largest real estate franchise by agent count, has more than 1,100 offices and 200,000 associates. The franchise is also No. 1 in units and sales volume in the United States. Since 1983, the company has cultivated an agent-centric, technology-driven, and education-based culture that rewards agents as stakeholders. For more information, visit kwx.kw.com.
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Texas home builders see 'market shift' as total sales drop
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CoreLogic's Multi-year Alliance with Google Cloud Enables New Product Launch
Discovery Platform, a property analytics ecosystem and data exchange, combines Google Cloud's secure technology with CoreLogic's industry-leading property data to power faster and more comprehensive solutions across multiple sectors IRVINE, Calif., August 22, 2022 -- CoreLogic, a leading global property data and analytics-driven solutions provider, has announced an extended relationship with Google Cloud to support the launch of its new CoreLogic Discovery Platform™. Fully built on Google Cloud's secure and sustainable infrastructure, Discovery Platform provides a comprehensive property analytics environment and cloud-based data exchange for businesses across multiple sectors. Discovery Platform allows businesses — including CoreLogic's core markets of property and real estate technology, mortgage lenders, marketers and insurance firms — to discover, integrate, analyze and model property insights to make critical business decisions faster. The multi-year relationship between CoreLogic and Google Cloud enables the development of a scalable platform built with several Google Cloud services including Dataproc, BigQuery, Anthos and Cloud Run to manage the data science workloads for predictive and prescriptive analytics. BigQuery is the petabyte-scale backend for the platform, enabling comprehensive property data views built from a wide array of CoreLogic and third-party data sets. Dataproc powers Discovery Platform facilitating advanced analytics and data science at scale. Typically, companies with data engineers and scientists spend weeks and even months on data wrangling before reaching the insights needed to drive business growth or mitigate risks. Through the collaboration with Google Cloud, CoreLogic's Discovery Platform provides a fully secure and compliant environment with relevant data, tools, security, and governance. Using CoreLogic data models and insights allows companies to deploy secure and compliant data analytics workflows within minutes, thereby speeding up the delivery of mission-critical insights. "CoreLogic and Google Cloud solved a significant challenge in the lag-time required to spin up data analytics workbenches that could be preloaded with nationwide data assets, models, libraries and software and self-service training," said John Rogers, chief innovation officer of CoreLogic. "Together, we were able to look at every part of the process—from onboarding to ingestion of data, modeling and exposure of that insight to the businesses' operational platform—and cut the lag-time down by more than 50% to give clients access to the insights they need to move the needle on their business faster and easier than ever before." "I'm excited to see our alliance with Google Cloud flourishing," said Patrick Dodd, president and CEO of CoreLogic. "We're providing a state-of-the-art analytical platform for our client's mission-critical processes. Discovery Platform is born from a growing alliance of two major industry innovators. I see the future horizons our research and development product teams are working on, and I am excited to see what's next." "We value working with companies like CoreLogic to develop innovative technology solutions and services that enhance customer experience and deliver insights faster," said Zac Maufe, global head of Financial Services Solutions at Google Cloud."Our collaboration will support CoreLogic's clients' needs and enable the delivery of more comprehensive and efficient solutions for businesses in the real estate finance market." About CoreLogic CoreLogic is a leading global property information, analytics, and data-enabled solutions provider. The company's combined data from public, contributory, and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance, and mitigate risk. Headquartered in Irvine, CA, CoreLogic operates in North America, Western Europe, and Asia Pacific. For more information, please visit www.corelogic.com.
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ATTOM Acquires Estated, Further Strengthening Its Impact in the Enterprise Data Licensing Marketplace
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Homebuyer Competition Falls to Lowest Level Since Early Months of Pandemic
Higher mortgage rates and home prices are pushing some house hunters out of the market, leaving those who remain with more options and negotiating power SEATTLE -- Nationwide, 44.3% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in July, compared with a revised rate of 50.9% one month earlier and 63.8% one year earlier, according to a new report from Redfin, the technology-powered real estate brokerage. That's the sixth-straight monthly decline and the lowest share on record with the exception of April 2020, when the onset of the coronavirus brought the housing market to a near standstill. The typical home in a bidding war received 3.5 offers in July, compared with 4.1 one month earlier and 5.3 one year earlier, according to data submitted by Redfin agents nationwide. Redfin's bidding-war data goes back through April 2020. Homebuyer competition is cooling as more Americans are priced out of the housing market due to higher mortgage rates and inflation. Properties are lingering on the market longer and the housing shortage is easing up, giving buyers more options to choose from and room to negotiate. Some sellers are slashing their asking prices as a result. Roughly 8% of listings on the market each week experience a price cut, the highest share on record. "The market is wildly different than it was a few months ago. Buyers are competing with one to two other offers instead of four to eight. Some aren't facing competition at all," said Alexis Malin, a Redfin real estate agent representing buyers in Jacksonville, FL. "There's not the same sense of urgency. House hunters are scheduling tours four days in advance instead of one, and they're becoming much more selective. If a home doesn't check all of their boxes, they're waiting until they find one that does. Six months ago, buyers were taking any house they could get." Malin continued: "Buyers have also started writing offers for less than sellers' list prices—a reversal from the height of the pandemic, when homes were going for tens of thousands of dollars over asking. I haven't written an over-asking offer in a month." With the scales of the housing market tipping increasingly in buyers' favor, Spokane, WA Redfin agent Brynn Rea has a few tips for sellers: "Sellers should make sure their home is move-in ready and not overpriced," Rea said. "They should do everything possible to make their property pristine for the masses—invest in updates and make it feel fresh. Doing little things like replacing faulty faucets or painting walls will help sell a home more quickly." Phoenix, Austin and Nashville Have Among the Lowest Rates of Homebuyer Competition In Phoenix, just over one quarter (26.6%) of home offers written by Redfin agents encountered competition in July—the lowest share among the 36 U.S. metropolitan areas Redfin analyzed. Rounding out the bottom five were Riverside, CA (31%), Seattle (31.5%), Austin, TX (31.7%) and Nashville, TN (33.3%). Many of these areas attracted scores of out-of-town homebuyers during the pandemic, pushing up prices and rendering them prohibitively expensive for some house hunters—one reason they now have relatively low bidding-war rates. The average out-of-towner moving to Nashville last year had $736,900 to spend on a home, 28.5% higher than average budget for local buyers—the largest gap among U.S. cities recently analyzed by Redfin. To be included in this analysis, metros must have had a monthly average of at least 50 offers submitted by Redfin agents from March 2021 to March 2022. Scroll down to the bottom of this report to see a table with data on all 36 metros. Raleigh, NC had the highest bidding-war rate, at 63.8%. Next came Honolulu (63%), Providence, RI (60.5%), Philadelphia (60.4%) and Worcester, MA (54.8%). Housing-Market Competition Declined Most in Orlando, Nashville and Sacramento In Orlando, FL, 37.4% of home offers written by Redfin agents faced competition in July, roughly half of the 81.4% rate seen a year earlier. That 44-percentage-point decline was the largest among the 36 metros in this analysis. It was followed by Nashville (33.3% vs. 73.1%; -39.7 ppts), Sacramento, CA (34.3% vs. 73.3%; -39 ppts), Charlotte, NC (34.6% vs. 71%; -36.4 ppts) and Colorado Springs, CO (36.8% vs. 71.2%; -34.3 ppts). There were no metros in which the bidding-war rate increased on a year-over-year basis. Townhouses Are Most Likely to Encounter Competition Townhouses were more likely than any other property type to face bidding wars, with 43.5% of Redfin offers encountering competition in July. Next came single-family homes (42.9%), condos/co-ops (39.7%) and multi-family properties (38.9%). Some homebuyers have sought out townhouses, which are typically smaller and more affordable, because they're priced out of the market for single-family homes. The typical home that went under contract in March was 1,720 square feet, down 1.8% from 1,751 square feet a year earlier, a recent Redfin analysis found. Bidding-War Rates by Metro Area The table below is sorted by lowest to highest bidding-war rate in July 2022. To read the full report, click here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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Kentwood Advantage gives new home buyers and sellers help in a shifting market
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Winners of HGTV Ultimate House Hunt 2022 Named
Over 1.1 million votes cast in annual online search for the most incredible real estate listings. CHICAGO - August 8, 2022 -- The winners of the HGTV Ultimate House Hunt 2022 have been named, based on over 1.1 million votes cast. The annual promotion held on HGTV.com features extraordinary real estate listings, with all 77 finalists represented by Leading Real Estate Companies of the World® and Luxury Portfolio International®members. The overall winner is an elegant Florida estate on the Atlantic Ocean represented by William Raveis Real Estate, Mortgage & Insurance, which also earned top honors in the Beachfront Homes category. The artfully crafted Bermuda-style home stands 17 feet above sea level and features stunning panoramic ocean views; a modern swimming pool with a stone deck; and a stunning interior with vaulted ceilings, oversized windows, and a contemporary open plan. Category winners include Brown Harris Stevens – NYC, Curb Appeal; Chase International, Countryside Retreats; Dave Perry-Miller Real Estate, Amazing Kitchens; Harry Norman, Realtors, Downtown Dwellings; Hawaii Life Real Estate Brokers, Outdoor Escapes and Waterside Homes; and john greene Realtor, Homes With a History. In addition to these categories, a special Global Homes gallery featured exceptional homes from nine countries or territories around the world. "This is our eleventh year collaborating with HGTV.com on the Ultimate House Hunt, and we are always delighted to see the enthusiastic response to our members' listings. This year's winners include a truly impressive collection of homes, representing a wide range of architectural styles. We congratulate the winners and look forward to our continued work with HGTV.com to showcase some of the most stunning real estate listings in the world," said LeadingRE President/CEO Paul Boomsma. To view the Ultimate House Hunt winners, visit hgtv.com/ultimatehousehuntwinners.
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Zillow, Opendoor announce multi-year partnership
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BoomTown Launches Full Suite of Back Office and Transaction Management Capabilities to Manage Entire Client Lifecycle
A deeply integrated front office and back office provides real estate professionals a best in class end-to-end solution. Business owners get a birds-eye view of the entire business process, agents have the tools they need to generate leads and close deals, and back-office employees enjoy efficiency gains to move quickly and accurately through transactions CHARLESTON, S.C., August 3, 2022 -- BoomTown, the leading cloud-based sales and marketing automation platform for real estate professionals, announced the launch of back office capabilities through an expanded integration with Brokermint, real estate's leading cloud-based back office and transaction management software, which was acquired by BoomTown. Fragmented customer relationship management and back office solutions cause duplication of effort and business inefficiencies, a problem that has plagued the real estate industry for years. Unlike other integrations, this unification of the data layer is the critical component that powers the deep integration and allows agents to seamlessly align the BoomTown and Brokermint platforms, answering the need for an end-to-end solution for real estate businesses. While agents, team leaders, and brokers utilize BoomTown's lead generation and customer relationship management solutions, administrative teams can now work in the back-office solution, which handles everything from commissions, offers, and e-Signatures, to accounting, transaction management and reporting, and all information is seamlessly synced. It provides visibility into the entire business transaction, and ensures information is accurate, and all relevant parties enjoy a streamlined and efficient process from lead-to-close. "This enhanced integration is closing the loop on the real estate transaction process, and fostering ‘clients-for-life' for our customers by enabling offices to manage their client relationships from first click to close, and deliver more value at every step," said Grier Allen, CEO of BoomTown. "It eliminates inter-office inefficiencies, helps business owners identify opportunities, and creates a solid foundation for continued innovation between front office and back office." "The deep integration between the front-end BoomTown solution and back-end Brokermint solution, and the efficiency gains and holistic company view that it delivers, are changing the game," said Chad Priest, Broker in Charge of The Flowertown Group. "Unlike other integrations that still require manual updates and maintenance, this includes all of our data from transactions and commissions to contact data and user information, so we can confidently manage every front-office and back-office task in one place." About BoomTown BoomTown exists to make real estate agents successful. Nearly 100,000 of the industry's top professionals, and 40% of the Real Trends Top 250 teams, trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. BoomTown's full suite of capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, a mobile app for agents on the go, transaction management, commissions, and accounting. BoomTown's service offerings extend far beyond technology with lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth to coaching services from peers who have catapulted their growth with the system. Founded in 2006 and headquartered in Charleston, SC, BoomTown has additional offices in Atlanta, GA and San Francisco, CA. BoomTown's brands include some of the most trusted solutions in real estate like Brokermint, real estate's leading back-office and transaction management software, and MyAgentFinder. For more about BoomTown visit boomtownroi.com.
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ATTOM Sells RealtyTrac to Nations Info
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Transactly Acquires TC Solutions, LLC Further Expanding National Network of TCs
ST. CHARLES, MO. -- Transactly, a rapidly growing real estate transaction platform, has announced the acquisition of TC Solutions, LLC based in King County, Washington. With this acquisition, Transactly further expands their national network of tech-enabled Transaction Coordinators — already the largest in North America — to include TC Solutions' large team of coordinators in the Pacific Northwest. "We are happy to welcome Genny Lee Harmon and TC Solutions onto the team here at Transactly," says Transactly founder and CEO Bryan Bowles. "Genny has built a great team of talented coordinators at TC Solutions. This acquisition significantly increases our ability to serve agents, teams, and brokerages in the larger market of Washington state." Genny launched TC Solutions, LLC because she loves helping people achieve their goals. She developed a strong team that is dedicated to providing real estate professionals with the Real Estate Transaction Coordinating Solutions they need to work at their best so they can focus on what matters most. Now with the acquisition by Transactly, Genny's team will see this mission come to fruition at an even larger scale. Transactly is enrolling all transaction coordinators and clients into their technology platform to ensure an ever-improving digital client experience — something that is otherwise lacking in the real estate industry. The St. Charles-based real estate technology startup has been on a rapid growth clip, tripling its annual revenue and expanding the scope of its businesses. Transactly provides real estate agents and brokerages with tech-enabled transaction coordinators and services to assist in processing and closing real estate transactions. It used its acquisitions to create a new business segment called Connect, which focuses on providing homebuyers with a streamlined way to set up home utilities and services. About Transactly Transactly is headquartered in St. Louis, Missouri, and was founded in 2017 by Bryan Bowles. Transactly's mission is to be the platform of choice for the people and companies involved in real estate transactions. Transactly's platform provides the largest team of tech-enabled transaction coordinators in North America.
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Redfin Reports Homes Are Taking Longer to Sell
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Elm Street Technologies Appoints Byron McDuffee as Chief Executive Officer
Technology industry executive has proven track record and will lead company in next stage of its growth NEW YORK, NY - July 18, 2022 -- Elm Street Technology, LLC ("Elm Street" or the "Company"), a leading provider of residential real estate technology and marketing solutions, today announced that Byron McDuffee has joined the Company as Chief Executive Officer, effective July 14th. Elm Street is backed by Aquiline Capital Partners LLC ("Aquiline"), a private investment firm based in New York and London with $8.7 billion in assets under management that invests in businesses globally across financial services and technology. Mr. McDuffee is a long-time technology industry veteran with a strong track record of leading vertical-focused software companies. Mr. McDuffee most recently served as the COO of DealerSocket, Inc., a global software as a service (SaaS) company operating in over 100 countries that offers solutions for franchise and independent auto dealers including customer relationship management, dealership management solution, inventory management, websites and digital retailing. Previously, he served as a Senior Vice President at Equifax where his core focus areas included transformational process re-engineering and adjacent market expansion. "I am excited to be joining Elm Street to lead the Company as it builds on its strong reputation as a technology leader in the real estate industry," said Mr. McDuffee. "I look forward to positioning the Company for continued and accelerated growth while achieving the highest levels of customer satisfaction as we work towards solidifying and expanding our market position." "Byron is a seasoned executive with the experience and knowledge to drive strong operational and financial outcomes in competitive markets while building a positive company culture," said Jeff Greenberg, Chairman and CEO of Aquiline. "We are confident that Byron will make an immediate impact at Elm Street and help the Company continue on its growth trajectory." About Elm Street Technology, LLC Elm Street Technology offers a growing portfolio of real estate technology and marketing services with the goal of providing one vendor and one point of contact, fully fused into one singular platform – Elevate - to capture and nurture more leads into closed business. Elevate allows busy real estate professionals the ability to streamline and automate their marketing and day-to-day business objectives by offering high-end IDX websites, lead generation tools, a powerful CRM, email, social, text and blog marketing automation, recruiting and retention tools, and more. For more information, please visit tryelevate.com. About Aquiline Capital Partners LLC Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in companies across financial services and technology, healthcare, and business services. The firm had $8.7 billion in assets under management as of March 31, 2022. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit www.aquiline.com.
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Anywhere Announces Rebranded Business Units
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Redfin Reports Balance Is Returning to the Housing Market as Competition Eases
Homebuyers are getting some relief as sellers slash their prices at a record rate and mortgage rates drop following months of increases SEATTLE -- After months of tipping heavily in sellers' favor, the scales of the housing market are finally balancing out, according to a new report from Redfin, the technology-powered real estate brokerage. Soaring housing costs caused many house hunters to drop out in recent months, which is now providing some relief for buyers who remain. Today's buyers are seeing the housing shortage ease, price growth slow, competition decline and mortgage rates drop from their 2022 high. The share of sellers slashing their asking prices hit a record high during the four weeks ending July 3, and the portion of homes going for above list price fell for the first time since June 2020 as sellers responded to waning homebuyer demand. "Conditions for homebuyers are improving. Housing remains expensive, but mortgage rates just posted their biggest weekly drop since 2008, which makes buying a home a bit more affordable," said Redfin chief economist Daryl Fairweather. "One way buyers can take advantage of the shift in the market is seeking concessions from sellers. That could include asking the seller to buy down your mortgage rate, pay for repairs or cover some of your closing costs." "The market slowdown is giving buyers more opportunities to negotiate, especially with sellers whose homes have been on the market for a while," said Columbia, SC Redfin real estate agent Jessica Nelson. "I tell my sellers that they need to price their homes realistically from the get-go. If they don't, their home may end up sitting on the market and they may have to drop their price—possibly more than once—to attract buyers." Leading indicators of homebuying activity: For the week ending July 7, 30-year mortgage rates fell to 5.3%—the largest 1-week drop since 2008. This was down from a 2022 high of 5.81% but up from 3.11% at the start of the year. Fewer people searched for "homes for sale" on Google—searches during the week ending July 2 were down 2% from a year earlier. The seasonally-adjusted Redfin Homebuyer Demand Index—a measure of requests for home tours and other home-buying services from Redfin agents—was down 15% year over year during the week ending July 3. Touring activity as of July 3 was down 14% from the start of the year, compared to a 7% increase at the same time last year, according to home tour technology company ShowingTime. Mortgage purchase applications were down 17% from a year earlier during the week ending July 1, while the seasonally-adjusted index was down 4% week over week. Key housing market takeaways for 400+ U.S. metro areas: Unless otherwise noted, this data covers the four-week period ending July 3. Redfin's weekly housing market data goes back through 2015. The median home sale price was up 13% year over year to $396,000. This growth rate is down from the March peak of 16%. The median asking price of newly listed homes increased 15% year over year to $399,973, but was down 2.1% from the all-time high set during the four-week period ending June 5. The monthly mortgage payment on the median asking price home hit $2,342 at the current 5.3% mortgage rate, up 40% from $1,668 a year earlier, when mortgage rates were 2.9%. That's down slightly from the peak of $2,487 reached during the four weeks ending June 12. Pending home sales were down 13% year over year, the largest decline since May 2020. New listings of homes for sale were down 1.4% from a year earlier. Active listings (the number of homes listed for sale at any point during the period) fell 2% year over year—the smallest decline since October 2019. 45% of homes that went under contract had an accepted offer within the first two weeks on the market, down from 49% a year earlier. 32% of homes that went under contract had an accepted offer within one week of hitting the market, down from 35% a year earlier. Homes that sold were on the market for a median of 18 days, flat from a year earlier and up slightly from the record low of 15 days set in May and early June. 52% of homes sold above list price, down from 53% a year earlier. This measure peaked in mid-May and has declined 3.8 points since then. On average, 7% of homes for sale each week had a price drop, a record high as far back as the data goes, through the beginning of 2015. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, declined to 101.9%. In other words, the average home sold for 1.9% above its asking price. This was down from 102.2% a year earlier. To view the full report, including charts and methodology, please click here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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eWebinar Partners with NAR REACH to Help Real Estate Tech Startups Scale Agent Onboarding and Training
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CoreLogic Launches Property Analytics Ecosystem and Data Exchange, Discovery Platform
New solution simplifies data science challenges to help enterprises accelerate innovation, mitigate risk and identify new revenue streams IRVINE, Calif., June 29, 2022 -- CoreLogic, a leading global property data and analytics-driven solutions provider, has announced the launch of Discovery Platform, a cloud-based data exchange and property analytics ecosystem. Powered by the industry's first integrated property identifier, CoreLogic's CLIP ID, and built on more than 50 years of data spanning 99.9% of U.S. properties, Discovery Platform provides a comprehensive property analytics solution. The platform enables businesses—including property and real estate technology (PropTech/ReTech), mortgage lenders, marketers and insurance firms—to discover, integrate, analyze and model property insights to make critical business decisions faster. Enterprises have been investing heavily in data science to solve problems and predict outcomes across every aspect of their business, from revenue forecasts to lead generation and everything in between. They often spend significant time and resources managing this data and little time translating it to inform and improve business outcomes. CoreLogic's Discovery Platform simplifies this challenge through: Seamless data integration: Users can easily integrate their own business objectives and data with CoreLogic's data assets. While most data exchanges rely on generalized data sets, CoreLogic's CLIP® ID provides more granular information at the property level to help businesses derive more accurate business insights based on the most current market landscape. A complete suite of analytics and modeling tools: Organizations have access to a suite of leading analytics and resources such as data modeling and visualization tools, all available within a secure digital workspace that can be used to extract and categorize insights. Connected workflows: Data can be easily exported and integrated into external operational platforms to streamline workflows between data analytics teams and business decision makers to improve efficiencies and drive business outcomes faster. "As the industry is increasingly leveraging data science and analytics to understand, improve and grow their businesses, it has never been more important to get the data strategy right," explains Patrick Dodd, President and CEO of CoreLogic. "By combining best-in-class data, enhanced analytics, and cross-functional collaboration capabilities into a unified solution, the CoreLogic Discovery Platform allows enterprise leaders to gain insights and integrate into their business activities faster than ever before." With CoreLogic's Discovery Platform, businesses can solve use cases such as: Lead Prospecting and Qualification: Identify and screen potential customers based on property or loan characteristics, real estate or loan transaction events, estimated equity or CoreLogic propensity models. Market Share and Competitive Analysis: Analyze lending market share by geography or portfolio type and conduct competitive analysis on key competitors. Risk Analysis: Assess risk of properties, including default risk, home price risk, hazard risk (e.g., flood, wildfire) and reconstruction cost risk. Retention Modeling: Use CoreLogic's propensity models to identity at-risk customers and understand where lost customers went. Customer Profiling & Predictive Analytics: Build customer profiles based on key property-related characteristics. Predict behavior based on trends and forecasts of the underlying property attributes (e.g., home price appreciation, new construction, etc.). To learn more about CoreLogic's Discovery Platform and additional use cases it can help solve, visit: www.corelogic.com/discovery-platform. About CoreLogic CoreLogic is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
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HGTV, LeadingRE and Luxury Portfolio Collaborate on HGTV Ultimate House Hunt 2022
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Chime Unveils Active Recruiting to Help Large Brokerages Build and Sustain High Performing Teams
New module fully integrated in Enterprise platform to simplify and streamline candidate management COLORADO SPRING, Colo., June 27, 2022 -- Chime Technologies, an award-winning real estate technology innovator, today unveiled a new Active Recruiting module to identify, manage, and nurture candidates through the hiring process as many large brokerages look to expand. While strategic real estate professionals understand the need to consistently nurture the candidate pipeline, faced with unprecedented industry competition and evolving market conditions, most lack the time and resources to do so effectively. Purpose-built to streamline and automate the arduous recruitment process and support essential business growth, Chime Active Recruiting is fully integrated into the Chime Enterprise platform, making it easier for brokerage owners to successfully manage a healthy pipeline of qualified candidates. Chime executives will be onsite this week at the Gathering of Eagles event to provide a demo of Active Recruiting and discuss the essential role of technology in helping brokerages face current market challenges. To meet with the team, please email [email protected] Learn more about Chime Enterprise HERE. Consistent Recruitment to Build and Sustain a High Performing Team Strategic brokerage owners know that to build and sustain a productive and invested team of high performers, recruitment efforts must be nurtured. Chime’s Active Recruiting module was designed to continuously identify and manage a pipeline of qualified candidates from initial outreach to signed offers. Featuring seamless integration with local MLS databases, users can drill down and gain a granular view of potential candidates based on key areas of interest such as year over year transaction information or social media activity, among others, to effectively identify the agents best suited for their firm. Candidates can then be easily added to a dedicated Watchlist for ongoing nurturing. Chime Active Recruiting makes it easy to add notes and update candidate profiles as they move through the process. Armed with these data-driven insights, brokerage owners save considerable time by focusing only on those qualified candidates who will help drive profitable growth for the business. Later this year, Chime expects to add dedicated Smart Plans to automate recruiting campaigns and candidate pipeline communications and will look to integrate with top recruiting tools to further extend the module’s capabilities. This continued investment underscores the company's commitment to helping brokerages proactively and efficiently mine the talent pool for top producing agents. "Faced with increased competition and volatile market conditions, brokerage owners are under tremendous pressure to effectively recruit and retain top producers to grow the business," said Stuart Sim, Head of Industry Development, Chime. "Our product team keenly understands these challenges and continues to deliver the tools modern agents need to be successful. Powered by innovative automations, Active Recruiting makes it easy to consistently manage the candidate pipeline and seamlessly integrate recruitment into daily operations, helping our valued customers work smarter, not harder." To learn more about Chime, visit HERE. About Chime Technologies Chime is an award-winning real estate technology innovator headquartered in Phoenix, Arizona. Our AI-powered platform empowers real estate professionals, teams, and brokerages with the tools they need to automate lead generation operations, drive conversions, and grow their business. For more information, visit www.chime.me.
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CoreLogic Names Patrick Dodd CEO
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eXp World Holdings to Acquire Zoocasa Realty Inc.
Proptech Acquisition Strengthens eXp Realty's Online Lead Generation, Home Search and Listings Portal Solutions in Canada BELLINGHAM, Wash. - June 20, 2022 -- eXp World Holdings, Inc., the holding company for eXp Realty, Virbela and SUCCESS Enterprises, today announced the pending acquisition of Zoocasa Realty Inc. and its key property, Zoocasa.com, to bolster eXp Realty's online lead generation, home search and listings portal opportunities for our agents and brokers. The transaction is subject to customary closing conditions and approvals and is expected to close in July 2022. Zoocasa is an award-winning consumer real estate search portal and brokerage based in Toronto, Canada. Zoocasa offers an all-in-one intelligent, scalable listings platform that provides a seamless home search experience, deep market insights and a connection to local real estate experts. "Online home search and lead generation portals are critical tools in residential real estate – both for customers looking to buy and sell homes, and our agents building their businesses," said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. "We're excited about bringing Zoocasa into the eXp World Holdings family of companies. Their experienced leadership team, technology and well-known Canadian brand will position us to create a unique portal experience, with a goal of taking home search and lead generation to the next level across North America. This acquisition is a testament to our continued investment in growth to differentiate, be a destination brokerage and give our agents a proprietary option for nurtured and inside sales qualified leads." Zoocasa is owned by its CEO Lauren Haw and a group of investors, who purchased Zoocasa.com from Rogers Communications in 2015. Today, the platform has close to 12 million annual visits and 150 in-house real estate agents. "Joining eXp Realty and eXp World Holdings is an exciting next step for the expansion of Zoocasa's impact as we continue to redefine our portal and lead generation technology to create excellent experiences for customers and agents," said Lauren Haw, CEO and Broker of Record of Zoocasa. "eXp's cloud-based model is a perfect fit for our team and we look forward to growing our business with eXp's leadership team and network of agents." For more information about eXp World Holdings and its subsidiaries, go to expworldholdings.com. For more information about Zoocasa Realty Inc., please go to Zoocasa About Us. About eXp World Holdings, Inc. eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises. eXp Realty is the fastest-growing real estate company in the world with more than 82,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece and New Zealand and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication. For more information, visit expworldholdings.com
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Keller Williams and 72SOLD Form Strategic Partnership
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Luxury-Home Sales Sink 18%, the Biggest Decline Since the Start of the Pandemic
Redfin analysis finds the luxury-housing market is cooling down amid a slumping stock market, rising mortgage rates and economic uncertainty SEATTLE -- Sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent shockwaves through the housing market. By comparison, sales of non luxury homes fell 5.4%. That's according to an analysis of luxury real estate trends from Redfin, the technology-powered real estate brokerage. The analysis divides all U.S. residential properties into price tiers based on Redfin Estimates of homes' market values and defines luxury homes as the most expensive 5% of homes in each metro area. The luxury market is cooling as soaring interest rates, a tepid stock market, inflation and economic certainty put a damper on demand. For a luxury buyer, a higher mortgage rate can mean a monthly housing bill that's thousands of dollars more expensive. The year-over-year cooldown is also a reflection of the market for high-end homes coming back to earth following a nearly 80% surge in sales a year ago. Luxury-sales growth began to slow in the spring and summer of 2021 amid an extreme shortage of high-end properties for sale, which restricted how many homes could be sold. Although the inventory crunch has started to ease, the shortage of luxury homes on the market is still likely contributing to the drop in luxury sales. "The pool of people qualified to purchase luxury properties is shrinking because the stock market is falling and mortgage rates are rising," said Elena Fleck, a Redfin real estate agent in West Palm Beach, FL. "The good news for buyers is the market is becoming more balanced and competition is easing up. Of course, that doesn't help the scores of Americans who have been priced out altogether." Rising interest rates have triggered a slowdown in the housing market as a whole in recent weeks. The average 30-year fixed mortgage rate was 5.23% during the week ending June 9, down slightly from a 2022 peak of 5.3% but still significantly higher than 3.11% at the end of last year. Mortgage rates for jumbo loans, the type most luxury borrowers use, have also been surging. The rate on a 30-year jumbo loan was 5.06% as of June 8, up from 3.23% at the end of 2021. "I had one seller in Delray who went under contract on their home for over $2 million in March, right in the middle of an interest-rate hike," said Fleck. "The buyers backed out because they realized their mortgage payment would rise by more than $3,000 per month with the higher interest rate. They could no longer afford the house comfortably." Luxury-Home Prices Are Still Surging, But Not as Quickly as a Year Ago The median sale price of luxury homes rose 19.8% year over year to $1.15 million during the three months ending April 30—roughly the same growth rate as non luxury homes. While that's still above pre-pandemic levels of less than 10%, it's down from a peak of 27.5% in the spring of 2021. The High-End Inventory Crunch Is Easing as Luxury Listings Rise for First Time This Year The inventory crunch in the high-end housing market is easing as the drop in sales leaves more homes available for purchase. The supply of luxury homes for sale fell 12.4% year over year during the three months ending April 30. That compares with a record decline of 24.6% during the summer of 2021, when there was still intense demand for high-end homes. The supply of non luxury homes fell 8.4% during the three months ending April 30. An increase in new luxury listings is one reason overall luxury supply isn't falling as sharply as it was last year. New listings of luxury homes rose 1.1% year over year during the three months ending April 30, the first increase since summer 2021. Metro-Level Highlights: Luxury Homes Sales Fall Sharply on Long Island, Increase in New York City Home sales: Luxury home sales fell in all but one of the top 50 metros. The biggest decline was in Nassau County, NY (-45.3% YoY), followed by Oakland, CA (-35.1%), Dallas (-33.8%), Austin, TX (-33%) and West Palm Beach, FL (-32.8%). The only increase was in New York (+30%). Prices: The median sale price of luxury homes rose in all of the top 50 metros. It was up the most in Tampa, FL (+33% YoY), followed by San Diego (+31.4%), Jacksonville, FL (+31.2%), Nashville (+30.3%) and Fort Worth, TX (+29.4%). New listings: New listings of luxury homes increased in 16 of the top 50 metros. The biggest gain was in Warren, MI (+32.2% YoY), followed by New York (+31.1%), San Antonio (+22.8%), Detroit (+22.3%) and Nashville (+18.4%). The biggest declines were in Oakland (-28.4%), Los Angeles (-27.6%), Anaheim, CA (-25.2%), San Francisco (-24.9%) and San Jose, CA (-23.6%). Supply: Active listings of luxury homes dropped in all but five of the top 50 metros. The biggest declines were in Anaheim (-38.7% YoY), Los Angeles (-36.1%), Miami (-33.7%), San Jose (-32%) and Oakland (-31.3%). The metros that saw increases were San Antonio (+22.4%), Warren (+15.1%), Columbus, OH (+7.3%), Detroit (+4.7%) and Nashville (+0.1%). The full report, complete with charts and data for the 50 largest metro areas, is available here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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Redfin Reports Homes with High Fire Risk Sell for Nearly $120,000 More than Low-Risk Homes as Americans Flock to Fire-Prone Suburbia
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Black Knight Announces Strategic Alliance with Percy to Provide an Advanced Client Engagement Solution for Real Estate Professionals and Mortgage Lenders
Black Knight will be integrating Percy into several of its mortgage and real estate offerings to provide a seamless, integrated experience for users across the continuum JACKSONVILLE, Fla. - May 31, 2022 -- Today, Black Knight, Inc., an award-winning software, data and analytics company that drives innovation across the real estate and mortgage continuum, announced a strategic alliance with Nashville-based Percy – formerly known as Buyside – a data analytics and marketing company that collects and analyzes real estate consumer behavior using machine learning and artificial intelligence. The alliance will allow Black Knight to offer clients a new, advanced consumer engagement solution fueled by billions of behavioral datapoints that helps real estate professionals and lenders cultivate deeper customer relationships. Using proprietary machine learning to monitor homeowner behavior "signals" through custom landing pages with engaging content (e.g., property valuations, local buyer demand and market activity, monthly email reports, listing activity on client websites, etc.), Percy helps identify the precise timing that a homeowner is likely to transact. "Percy's predecessor was launched to help brokerages match buyers to listings, but in the time since, it's evolved into an ecosystem that spans mortgages as well as real estate, across both the buy and sell sides of the real estate equation," said Charles Williams, Percy founder and chief executive officer. "Today, Percy analyzes billions of pre-buying as well as pre-selling signals in real estate consumers' behavior to empower loan officers, real estate agents and brokers with actionable intelligence." The application creates an engaging experience for home buyers and potential sellers through a personalized digest of insights related to their homes. Providing multiple valuation estimates to increase accuracy, timely and current home equity statements, refinance opportunities and more helps build trust and cultivate deeper, richer customer relationships. "Today's housing market is categorized by record-low inventory and record-high home prices, which – together with sharply rising rates – continue to put downward pressure on purchase lending," said Black Knight Data & Analytics President Ben Graboske. "As everyone in our industry is aware, generating inventory is key to lessening affordability pressures as well as keeping lender and real estate agent pipelines full. This strategic alliance with Percy will allow our clients across real estate and mortgage to use an AI-powered, big-data-fueled approach to intelligently engage with those customers, to build business while also generating inventory." About Black Knight Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively. Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com. About Percy Percy.ai is a data analytics and marketing company delivering more revenue opportunities to real estate brokers and mortgage companies by collecting and analyzing real estate consumer behavior. We use proprietary machine learning and Artificial Intelligence to better understand consumer intent and help companies target the right person at the right time. Learn more at percy.ai or email [email protected]
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YourHomeHub Powered by MooveGuru Sells Out 26 States and 28 Regional Territories
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Home Sellers in Migration Hotspots Increasingly Turn to Price Drops
The sudden surge in mortgage rates has reduced homebuyers' budgets in many markets, forcing sellers to reset their price expectations SEATTLE -- Price drops are becoming increasingly common, particularly in hot migration destinations, according to a new report from Redfin, the technology-powered real estate brokerage. In Boise, ID, where home prices are up 62% in the past two years, 41% of home-sellers dropped their price in April, the largest share among the 108 metropolitan divisions included in Redfin's analysis. That's up from 10% a year ago. Cape Coral, FL (33%), New Orleans (32%), Baton Rouge, LA (31%) and Sacramento (30%) rounded out the five markets that are driving the national rate of price drops to its highest level since October 2019. "Many places like Boise or Sacramento that saw a surge in migration and a sharp increase in home prices over the past two years have now seen an abrupt drop-off in demand, leading sellers to drop their prices with increasing frequency," said Redfin Chief Economist Daryl Fairweather. "When mortgage rates were at or below 3%, both local and out-of-town homebuyers were more willing and able to tolerate high prices, but at 5%, many are now priced out. A home's price is driven by the balance of supply and demand, and when demand drops off and supply increases like it is now, rapid price increases evaporate quickly." More than 20% of home sellers dropped their price in April in seven of the 10 most popular April migration destinations (Cape Coral, FL; Sacramento; North Port, FL; Tampa, FL; Atlanta, GA; San Antonio, TX and Phoenix). For home sellers in these markets, the sharp increase in mortgage rates has knocked some of the wind out of a housing market that had been super-charged by surging migration. "Conversations with prospective sellers are longer and more emotional now than they were just a few months ago," said Boise Redfin real estate agent Shauna Pendleton. "If your home has been listed for several days with little or no interest from buyers, it's time to consider dropping the price. If you do have to drop the price, you are far better off doing one large price drop instead of a series of smaller price drops. A larger number of drops is often interpreted as desperation and encourages buyers to wait even longer or make a lower offer." In six metro areas, the share of homes with a price drop decreased significantly (5 percentage points or more) from a year ago. All six had a median sale price in April below the national median of $424,400. The share of homes with price drops fell 18 points in Fresno, CA, 12 points in McAllen, TX, 10 points in Bakersfield, CA and 9 points in Elgin, IL, Lake County, IL and Chicago. To view the full report, including a table with metro-level data for 108 metros, please click here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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Data Intelligence Firm Buyside Renames to Percy, Expands into Mortgage, and Adds $10 Million in Funding
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Redfin Reports Historic Housing Shortage Shows Signs of Letting Up as Sales Decline
The number of homes for sale shrank at its slowest pace in April since the start of the pandemic SEATTLE -- The housing market turned a corner in April as the inventory crunch showed signs of easing, according to a new report from Redfin, the technology-powered real estate brokerage. The 9% year-over-year decline in homes for sale was the smallest since March 2020 and the first single-digit drop since the start of the pandemic. While inventory remained at a record low, it fell at a relatively slow pace because soaring mortgage rates tempered homebuyer demand. Home sales slid 8%, the biggest drop since June 2020, which allowed white-hot home-price growth to cool slightly. The median home-sale price rose 16% to $424,000, a slowdown from March's 17% gain. "When market conditions are changing it becomes more difficult for homebuyers and sellers to see eye-to-eye on pricing," said Redfin deputy chief economist Taylor Marr. "Many sellers are still seeking sky-high prices for their homes even though rising mortgage rates have limited homebuyer budgets. As a result, buyers are backing off, which is causing home sales to fall and the housing shortage to ease. As demand continues to soften, more sellers will likely be forced to drop their prices in order to get offers. The good news is that this should finally bring more balance to the market." Median sale prices increased from a year earlier in all of the 88 largest metro areas Redfin tracks. The largest price increases were in Las Vegas (+29%), West Palm Beach, FL (+29%) and Fort Worth, TX (+28%). Home sales fell from the prior year in 87 of the 88 largest metro areas Redfin tracks. The biggest declines were in West Palm Beach, FL (-30%), Anaheim, CA (-26%) and Bridgeport, CT (-25%). The only metro where sales increased was Allentown, PA (+1%). 78 of the 88 largest metros tracked by Redfin posted year-over-year decreases in the number of seasonally adjusted active listings of homes for sale. The biggest declines were in Allentown, PA (-50%), Greensboro, NC (-40%) and Bridgeport, CT (-35%). The metro areas with the largest increases were Elgin, IL (+33%), Chicago (+15%) and Detroit (+10%). New listings fell from a year ago in 78 of the 88 largest metro areas. The largest declines were in Allentown, PA (-58%), Greensboro, NC (-45%) and Lake County, IL (-29%). New listings rose the most in McAllen, TX (+13%), Oklahoma City (+6%) and Detroit (+4%). Home sales that closed in April (which mostly went under contract in March) spent less time on the market and sold for further above list price than a year ago. The typical home that sold in April went under contract in 18 days—six days faster than a year earlier—and the shortest time on market ever for April. Fifty-nine percent of homes sold above list price, up 10 percentage points from a year earlier, and the highest level on record in Redfin's data, which goes back through 2013. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, rose to a record 103.2% in April, up from 101.5% a year earlier. In other words, the average home sold for 3.2% above its asking price. Other April Highlights Competition Denver and Indianapolis were the fastest markets, with half of all homes pending sale in just four days. Next came Omaha, Oklahoma City and Portland, OR each with five days on market. The most competitive market in April was San Jose, CA where 88.5% of homes sold above list price, followed by 87.7% in Oakland, CA, 78.7% in Denver, 77.8% in San Francisco, and 75.6% in Oxnard, CA. Prices Las Vegas had the nation's highest price growth, rising 29% since last year to $445,000. West Palm Beach, FL had the second highest growth at 28.6% year-over-year price growth, followed by Fort Worth, TX (28.3%), Tampa, FL (27.6%), and Nashville, TN (26.9%). No metros saw price declines in April. Sales Allentown, PA led the nation in year-over-year sales growth, up 1.2%, followed by Greensboro, NC, up -0.2%. Omaha, NE rounded out the top three with sales up -0.5% from a year ago. West Palm Beach, FL saw the largest decline in sales since last year, falling 29.8%. Home sales in Anaheim, CA and Bridgeport, CT declined by 25.7% and 24.9%, respectively. Inventory Elgin, IL had the highest increase in the number of homes for sale, up 32.6% year over year, followed by Chicago (15.3%) and Detroit (9.9%). Allentown, PA had the largest decrease in overall active listings, falling 49.9% since last April. Greensboro, NC (-39.9%), Bridgeport, CT (-35.2%), and Fort Lauderdale, FL (-32.4%) also saw far fewer homes available on the market than a year ago. Redfin Estimate Miami (39.3%) had the largest share of homes predicted to sell for below list price, according to Redfin Estimate data, followed by Baton Rouge, LA (32.5%) and Tulsa, OK (29.7%). Oakland, CA (94.8%) had the largest share of homes predicted to sell at or above list price, followed by Seattle (94.4%) and San Jose, CA (93.5%). To view the full report, including charts and methodology, please click here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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IDX Broker Expands Client Services to Incorporate IXACT CRM
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Inside Real Estate's New CORE Home Solution Proves Early Results of 30x More Engagement from Clients
Inside Real Estate sees powerful early results from CORE Home beta customers and announces additional partnerships to enhance the homeownership experiences. MURRAY, UTAH - MAY 10, 2022 -- Inside Real Estate, one of the fastest-growing independently owned real estate software companies and a trusted technology partner to over 250,000 agents, teams, top brokerages and brands has continued its rapid technology advances for its new lifetime homeownership technology, CORE Home. The new homeownership technology is available exclusively to Inside Real Estate's kvCORE customers. CORE Home is the first of its kind lifetime homeownership technology, branded completely to the brokerage and agent, providing value to consumers all along their homeownership journey - from living in their current home, to searching for their next home, to buying and selling a home, to helping them through their move, and then back to living in their current home again. CORE Home has now been rolled out to several thousand agents across two major brokerages in the beta launch, and they are seeing powerful early results. "We've rolled out to 3,500 agents as part of our initial beta and the lift in customer engagements was jaw dropping," said Nick Macey, President of Inside Real Estate. "kvCORE already produces a 5-10x lift in consumer engagements over industry norms, but with the added layer of CORE Home, consumers are another 30x more likely to initiate a conversation with their agent. From browsing listings, to saving searches and favoriting a property, these early results are showing the high consumer demand for a modern, seamless and personalized homeownership app experience." Additionally, Inside Real Estate recently partnered with Updater, to help power the "Move" experience within CORE Home. The tight integration will help to deliver a seamlessly connected experience throughout the homeownership lifecycle utilizing Updater's robust moving technology. Inside Real Estate will provide Updater's time-saving products and services directly within their own experience. The latest integration will ensure that brokers and agents can offer their consumers easy access to everything they need during a move, from changing their address, to connecting a new cable provider, to finding a moving company, all from the central hub of their branded, mobile-app, web and desktop experience. Brokerages and agents build lasting client relationships with the all-encompassing, tech-driven app that gives homeowners instant and trusted access to everything they need to manage their move now, and their home forever. "We are excited to partner with Updater and incorporate their advanced and trusted technology to help our brokerages and agents build lasting client relationships, said Nick Macey, President of Inside Real Estate. "This seamless connection will help homeowners have instant access to everything they need to make their move simple and painless, as yet another way to provide value and stay top of mind during every stage of the home buying journey." "This partnership introduces world-class moving technology to Inside Real Estate's already expansive, all-in-one solution for brokers," said David Greenberg, Founder and CEO at Updater. "By incorporating tools for buyers and sellers to move into their home easily, CORE Home is adding to its foundational investment in helping homeowners with their lifelong homeownership journey." CORE Home will continue the beta roll out across the kvCORE customer base throughout the spring of 2022, with full rollout expected later this year. "These innovations are what keep our customers leading the industry, and we are proud to help power their long-term growth," said Macey. About Inside Real Estate Inside Real Estate is a fast-growing, independently-owned real estate software firm that serves as a trusted technology partner to over 250,000 top brokerages, agents, and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable, and flexible architecture, kvCORE enables every brokerage to create its own unique technology ecosystem through custom branding, robust integrations, and high-quality add-on solutions. With an accomplished leadership team and its talented staff of 250 employees, Inside Real Estate brings the resources, scale, and vision to deliver ongoing innovation and success to their growing customer base. Learn more at insiderealestate.com. About Updater Inc. Updater Inc. is the go-to destination to conquer your move. We started in 2010 with a vision to transform the painful and complex process of moving into a frictionless and delightful online experience. Today, Updater is the industry leader in relocation technology, facilitates more than 25% of annual household moves in the U.S., and offers a trusted and easy-to-use platform that transforms the way people move from one home to the next. Updater provides both consumer and business-facing solutions to drive value for all parties in the relocation ecosystem. Our portfolio of relocation brands includes Updater, Dolly, and MoveHQ. Updater is headquartered in New York City. For more information: www.updater.com.
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Dickson Realty unveils 'smart tech' powered by Delta Media
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ATTOM Unveils New Data Product for Reliable Rental Market Data
ATTOM's new Rental AVM (Automated Valuation Model) delivers automated rental estimates, arming real estate professionals with reliable values to make better decisions IRVINE, CA - May 3, 2022 -- ATTOM, a leading curator of real estate data nationwide for land and property data, is pleased to announce it has added yet another new data product to the ever-expanding ATTOM Table of Data Elements – the ATTOM Rental AVM (Automated Valuation Model). This new solution, built from the foundation of the company's nationwide property database, provides rent estimates for over 72 million single-family residences nationwide. ATTOM's new Rental AVM solution delivers automated rental estimates on a monthly basis, arming real estate professionals with reliable values to help them make better decisions for their business and their clients. The ATTOM Rental AVM leverages the company's nationwide property database and best-in-class geospatial layers to group and localize the value of similar properties within the same neighborhood. ATTOM tests its rental estimates using proven statistical techniques and by comparing to over one million nationwide active rental listings. "Whether you're a real estate investor looking to evaluate potential profits and returns on investment, understand the viability of a new investment property, operate a real estate platform in need of enhanced content and SEO, or a mortgage professional tasked with the verification process for investment loans, our Rental AVM solution provides an accurate estimate to help analyze and identify trends in specific geographic areas and markets," said Todd Teta, chief product and technology officer at ATTOM. "This new data product further delivers on our core mission to provide real estate stakeholders with information that increases real estate transparency and improves decision making." For a free trial or to learn more about the ATTOM Rental AVM to improve your business or investment portfolio, get in touch with an ATTOM representative today. About ATTOM ATTOM 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 real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB 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, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.
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Inside Real Estate Announces kvCORE Spring 2022 Release Continuing Their Innovation Leadership
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Redfin Reports Nearly One-Third of Homeowners Have a Mortgage Rate Far Below Today's Level, Prompting Some to Stay Put
With mortgage rates surging, some homeowners who would otherwise be selling are staying put, as moving could mean losing their ultra-low rate and getting stuck with a heftier housing bill SEATTLE -- About half (51%) of U.S. homeowners with mortgages have a mortgage rate under 4%—substantially below today's level of 5%, according to a new report from Redfin, the technology-powered real estate brokerage. About one-third (32%) of all homeowners—including those without mortgages—have a mortgage rate under 4%. With rates now at their highest level in over a decade, many of these homeowners may be incentivized to stay put because selling their home and buying another could mean giving up their ultra-low mortgage rate and increasing their monthly housing bill. This may be contributing to a decline in home listings. Mortgage rates have surged as the government seeks to combat inflation. The average 30-year fixed mortgage rate hit 5% for the first time since 2011 during the week ending April 14, up from a record low of 2.65% in January 2021. That has helped push the typical homebuyer's monthly mortgage payment to a record high of $2,288, up 35% from about a year ago. Redfin economists are watching closely to see whether the rise in mortgage rates has a measurable impact on housing supply, which is already at historically low levels. New listings fell 7% year over year during the four weeks ending April 10. By comparison, they were only down 1% at the end of February, before mortgage rates skyrocketed. "Higher mortgage rates may already be putting a damper on home listings, but they're also curbing the insatiable homebuyer demand for those listings," Redfin Deputy Chief Economist Taylor Marr said. "That slowdown in demand may cause homes to stay on the market longer, in effect giving buyers more options to choose from. Overall, that could mean housing inventory actually gets better, not worse." There are already early signs that demand is starting to back off. Home sellers are increasingly cutting their list prices to find buyers, and Redfin has seen a drop in buyers requesting service from its agents in pricey coastal markets. Mortgage purchase applications fell 6% year over year during the week ending April 8, and home-touring activity is below last year's levels. Utah, Colorado Have Highest Share of Homeowners With Mortgage Rates Significantly Below Today's Level In Utah, 46% of homeowners had a mortgage rate below 4% as of the fourth quarter of 2021—a higher share than any other state. Next came Colorado (43%), Washington, D.C. (42%), California (40%) and Washington (40%). The list is slightly different when looking only at homeowners with outstanding mortgages. The top spot is still held by Utah, where 65% of mortgage holders had a rate below 4%, but next came South Dakota, Colorado, North Dakota, Washington and Idaho—all at roughly 60%. Meanwhile, just 18% of total homeowners in West Virginia had a mortgage rate below 4%—the lowest share in the country. It was followed by Mississippi (22%), Louisiana (23%), New Mexico (24%) and Oklahoma (24%). West Virginia also had the lowest share of mortgage holders (39%) with rates below 4%. Next came New York, Florida, Mississippi, Louisiana and Oklahoma, all at about 44%. Redfin agents say the rise in mortgage rates is having varying impacts on homeowners, causing some to stay put, but others to list their homes more quickly. In Salt Lake City, the rise in mortgage rates is exacerbating a phenomenon that was already prompting many homeowners to stay put, according to Ryan Aycock, Redfin's market manager in the Utah capitol. "Many homeowners haven't been selling because housing prices have surged so much, they're worried they won't be able to find a replacement home," he said. "The rise in prices has helped homeowners build equity, but often not enough to afford the house they want next, and higher mortgage rates are now making that next home even more unaffordable." To view the full report, including charts and methodology, please click here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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Lone Wolf connects digital marketing and CRM to real estate's leading transaction management solution
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Latter & Blum debuts zavvie-powered program for sellers, buyers and renters
New Latter & Blum Select delivers iBuyer offers, buy-before-you-sell and new help for renters New Orleans - April 14, 2022 -- As the number of new homes for sale hit an all-time low, local homeowners ready to sell — and home shoppers prepared to buy — are looking to new ways to maximize their opportunities in today's highly competitive real estate market. Multiple innovative options are available to sellers, buyers, and renters, according to Latter & Blum, the largest independent real estate company in Louisiana and the Gulf South. "Sellers, buyers and renters have more options than ever," said Lacey Merrick Conway, Chief Executive Officer of Latter & Blum, which has more than 3,000 agents in Louisiana, Mississippi and Texas. To help these consumers better understand their options, Latter & Blum is launching Latter & Blum Select powered by zavvie. Latter & Blum Select is now available to homeowners, renters and buyers throughout its markets, including Greater New Orleans, Greater Baton Rouge, Lafayette, Alexandria, DeRidder, Houma, Thibodaux South Lafourche Parish, Lake Charles, Southern Mississippi, and Houston, Texas. Latter & Blum Select allows renters, buyers and sellers to see "all their choices," Conway added. Home sellers can now compare and choose from: An instant all-cash offer from an iBuyer. A buy-before-you-sell modern bridge solution. Pre-listing financing options to make home improvements to maximize the sales price and proceeds. Listing their home on the open market for maximum profit. Home buyers can now compare and choose from: Traditional purchase mortgage financing options. A Homeownership Accelerator program that turns renters into homeowners. "Today, homeowners and buyers who use Latter & Blum Select have the most choices," Conway explained. "But with these new programs comes new information that can be overwhelming for a seller or buyer. Our 3,000-plus agents are ready to provide their expert advice and guidance to help sellers and buyers determine their best option." Powered by zavvie, this new technology helps connect Latter & Blum agents and their clients with the widest range of options available to them at any given time. "More people today seek the assistance of a trusted agent than ever before," Conway noted, as 90 percent of all sellers and 87 percent of all buyers use a real estate agent, according to the National Association of Realtors research. "Homeowners want to see what an iBuyer would offer for their home. Or they may want to buy a new home before they put their current home on the market. Other sellers could benefit from a pre-listing renovation to raise their sales price and profit. However, most homeowners want to list their homes on the open market to maximize their return. Latter & Blum agents can help them make the right choice," Conway said. Conway also explained that Latter & Blum Select features a new program for renters that helps them become homeowners faster. "No one ever dreamed of renting a 'forever' home," Conway said. "Most renters want to own a home someday, and now we can help them with a new, quicker path to homeownership." For zavvie CEO and founder Lane Hornung, "Latter & Blum continues to be a market leader by embracing innovation," he said. "While selling on the open market will continue to be the most popular choice for homeowners, Latter & Blum understands that a 'one-size-fits-all' approach in real estate no longer works. "Sellers and buyers want choices — they deserve to see every option available today — and Latter & Blum is leading the way," Hornung added. More information about Latter & Blum Select is available at latterblumselect.com. About Latter & Blum Since its founding over a century ago, Latter & Blum has forged an unparalleled reputation as the most successful and largest independent real estate company in Louisiana and the Gulf South and operates in the markets of Greater New Orleans, Greater Baton Rouge, Lafayette, Alexandria, DeRidder, Houma, Thibodaux, South Lafourche Parish, Lake Charles, Southern Mississippi, and Houston, Texas. Learn more at www.latter-blum.com. About zavvie zavvie is a software technology company that provides real estate brokerages with a marketplace for buying and selling solutions via their own white-labeled platform that keeps agents at the center of the transaction. Over 65,000 real estate agents in 47 states leverage zavvie's software technology to serve their clients better. Discover more at zavvie.com.
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Realogy Competition Calls for Tech Superstars to Shape Real Estate's Future
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CORE BackOffice Launches eCommission Payment Gateway Giving Agents Instant Access to Commissions
Inside Real Estate brings the industry's first real-time commission transfer service to their CORE BackOffice customers MURRAY, UTAH (APRIL 07, 2022) -- Inside Real Estate, one of the fastest-growing independently owned real estate software companies and a trusted technology partner to over 250,000 top agents, teams, and brokerages, has announced the launch of eCommission Payment Gateway to CORE BackOffice (formerly Brokersumo), a leading real estate brokerage commission management and accounting solution. The new eCommission integration will enable real-time transfers of commissions to agents. CORE BackOffice provides brokers the most modern and streamlined solution to manage agent onboarding and billing, commission tracking and disbursements, as well as reporting and accounting and runs seamlessly with Inside Real Estate's flagship platform, kvCORE. eCommission Payment Gateway enhances the ACH transfer capabilities by giving agents a choice for receiving their money either same-day, next day or two business days from closed transactions. "When it comes to brokers paying out commissions to their agents, speed matters," says Nick Macey, President of Inside Real Estate, the parent company of CORE BackOffice. "eCommission Payment Gateway gives our brokerage clients the ability to deposit agent commissions nearly instantaneously if desired. This keeps their agents happy in a way that is critical to today's brokerage staying on top of a competitive industry." The new Payment Gateway feature is seamlessly integrated within each CORE BackOffice account. Brokers connect their bank accounts and select a desired transfer speed for their company. If agents wish to upgrade, they have the option within their default settings to expedite commission payments on every closing or occasionally when faster delivery speeds are desired. eCommission has been the industry leader in commission processing for over 20 years. "Whether we are advancing commissions to agents on pending sales or integrating our Payment Gateway technology into accounting platforms to fund commissions on closed sales, we give agents total control of their cashflow throughout the lifecycle of a transaction," says James Ciccarello, eCommission President. "We are proud to partner with Inside Real Estate. They are bringing the most advanced solutions to the industry and we are excited to be part of that journey." In addition to Payment Gateway, eCommission has fully integrated its commission advance service within CORE BackOffice offering agents "one-click" access to advances on pending sales and active listings. About Inside Real Estate Inside Real Estate is a fast-growing, independently-owned real estate software firm that serves as a trusted technology partner to over 250,000 top brokerages, agents, and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable, and flexible architecture, kvCORE enables every brokerage to create its own unique technology ecosystem through custom branding, robust integrations, and high-quality add-on solutions. With an accomplished leadership team and its talented staff of 250 employees, Inside Real Estate brings the resources, scale, and vision to deliver ongoing innovation and success to their growing customer base. Visit insiderealestate.com to learn more. About eCommission eCommission is the leading provider of working capital and commission processing services to the real estate industry, funding over $2 billion to satisfied customers since 1999. Their payment technology has been uniquely developed for handling large-volume commission transfers quickly and securely. eCommission is a nationally endorsed alliance partner to the industry's largest real estate brands, independent brokerages, and technology companies. More information about eCommission can be found at www.eCommission.com or [email protected]
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Chime Launches Enterprise Platform to Accelerate Profitable Growth for Brokerages
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New ShowingTime feature brings real-time tour availability to brokerage sites
Available to any agent or broker website, the feature will speed up and simplify scheduling, which is essential, especially in fast-moving markets CHICAGO, April 4, 2022 -- ShowingTime is unveiling a new feature that displays home tour availability in real time, significantly speeding up the process of booking a home tour and reducing hassles for buyers, sellers and agents alike. "Back-and-forth conversations about tour availability and scheduling hassles are time consuming and a potential deal killer in today's fast-paced market," said Michael Lane, vice president and general manager of ShowingTime. "This new feature's functionality has long been sought in the industry because it helps everyone involved in a transaction — buyers, sellers and agents — by making it crystal clear when a home is available to tour, more quickly and easily getting buyers into the homes they want to see." The feature is live in Dallas, Houston, Denver and Atlanta, and will roll out nationally later this year. It will be available soon for easy inclusion on broker and agent websites everywhere via the application programming interface (API) of ShowingTime, a residential real estate industry leading technology provider of showing management and market stats. Real-time availability is designed to reduce the burden on agents, particularly due to the complicated nature of scheduling in today's highly competitive market. By using the feature, agents know for certain when a home is available to book and can schedule those tours with their buyers faster — a key component to quickly narrowing down the best options in a market where the typical listing lasts just 11 days before a seller accepts an offer. This will also greatly reduce the burden on listing agents to manage showing requests that conflict with unavailable times. Interest in 3D and virtual tours rose during the pandemic, but demand for in-person tours is heating up as well. The number of markets averaging double-digit showings per listing jumped 45% year over year, from 75 to 109 in February, according to ShowingTime's latest Showing Index® report. Typical buyers surveyed by Zillow in both 2020 and 2021 went on three private tours, one more than the typical buyer in 2018 and 2019. And in 2021, 95% of buyers took a private tour. Sellers benefit, too. A simpler, more efficient tour scheduling process means sellers can showcase their homes to more buyers who are ready to transact a sale. Sellers still living in the home they're showing will also have greater insight and control into potential tour windows and know exactly when buyers will arrive. About Zillow Group Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and ease. Zillow Group's affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes, Inc., Trulia®, Out East®, ShowingTime®, Bridge Interactive®, dotloop®, StreetEasy® and HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). About ShowingTime ShowingTime is an industry leader in home touring technology and a proud affiliate of Zillow Group, Inc. ShowingTime's technology and services simplify the tour scheduling process for buyers, sellers, and agents across the industry. ShowingTime products are used in hundreds of MLSs representing more than one million real estate professionals across the U.S. and Canada.
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ATTOM's Ever-Expanding Table of Data Elements Innovates in Real Estate Data Consumption for End-Users
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Delta Media Builds a 'Hybrid Office' for Its New 2022 Headquarters
CANTON, Ohio, March 23, 2022 -- As working remotely becomes an expected option by new hires -- especially for tech-related businesses -- Delta Media created a new "hybrid office" workspace for its new headquarters designed to accommodate its burgeoning growth in 2022 and beyond. Delta Media is one of the most established and largest real estate technology solutions providers for brokers. After tripling its workforce over the last three years, partially fueled by the real estate boom during the pandemic, all Delta employees worked remotely. The company took advantage of that time to build its new headquarters. "Our new headquarters is designed for a mobile and flexible workforce," said Michael Minard, CEO and owner of Delta Media. "We've proven at Delta that we can scale rapidly and provide uninterrupted and exceptional support, even when most employees are WFH – working from home," he added. "But as Microsoft and many large firms are demonstrating, there is tremendous value to coming together again in person. There are so many benefits that a Zoom call can never achieve," Minard notes. "We believe the key is to create a space that is designed for the modern workforce. So our new hybrid headquarters, in addition to its open design, offers more outdoor space, a café, free lunch Fridays and other premium accruements to make it more attractive to go to work than stay home," he said. Delta Media's growth continues to accelerate as it also benefitted from the "unexpected consequence" of COVID-19 and the record real estate activity generated. In 2021, its employee base was up 37%, the number of brokerages it serves grew by 20%, and the total number of agents that use Delta technology is 24% higher. Delta is known for its all-in-one, best-in-class tech stack to help real estate agents sell listings and promote their business. Its core offerings – customer relationship management software, search engine optimization, automated digital marketing programs, showings platform and instant social media campaigns – are core tools now used by nearly every active real estate agent. "The pandemic helped real estate go digital as agents and brokers embraced new technology that empowers remote work," Minard said. Minard points out that the site of its new 10,000-square-feet headquarters, at 7015 Sunset Strip Ave. NW, near the Strip in North Canton, was also vital in creating a hybrid office. "To win the war on talent today, you also must offer new hires and existing team members a location that also is attractive. We picked this area because it's close to many restaurants, shopping and services – all within walking distance," he said. More information about Delta Media group, including employment opportunities, is available at deltamediagroup.com. About Delta Media Group Delta Media Group, Inc., located in Canton, Ohio, is a leading and trusted technology partner for many top real estate brands. The creator of DeltaNET6 "all in one when you want it, best-in-class when you don't" digital marketing platform. Delta provides automated digital marketing, unmatched SEO, easiest to use CRM, on-time and on-budget website launches, and its new Local Showings app and platform. Real estate's largest family-owned and operated technology innovator since 1994. Discover more at deltamediagroup.com.
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NextHome, Inc. partners with Inside Real Estate to deliver kvCORE to their 575+ franchises
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Realty Associates debuts 'next-gen tech' with Delta Media
Brings more market exposures for home sellers, insight into buyers HOUSTON - March 16, 2022 -- Realty Associates, a Latter & Blum company and one of the largest and most effective marketers of homes and commercial real estate in the Houston area, announces the debut of new, next-generation technology from Delta Media. The new technology will deliver more market exposure for sellers and better local real estate market insight for buyers throughout America's fourth-largest city, as well as Austin, Dallas-Ft. Worth, San Antonio, and Harlingen, Texas. The new Realty Associates website is fueled by the industry's most potent all-in-one marketing technology platform for real estate brokerages, powered by Delta Media. The site uses the newest advanced technologies to deliver one of the most robust local home search experiences for consumers available in Texas. Serving Texans for more than 45 years and part of Latter & Blum, one of the nation's real estate firms comprised of more than 40 real estate companies and 3,800 agents, Realty Associates will provide its more than 1,700 agents with Delta Media software tools. The advanced technology includes a robust customer relations management (CRM) system, digital and print marketing automation, an advanced social media promotional system, and more – that will ensure its customers receive more exposure for their homes than ever. "More people today start their home search experience online than ever before," said Pete Merritt, President of Realty Associates. He notes research from the National Association of REALTORS says 97 percent of buyers and sellers today use the internet in their home search. "Fifteen years ago, that number was just 2 percent," Merritt added. "That means you must provide the most complete, accurate, and fastest-to-market local information available. Then you better be ready to deliver a trusted real estate expert to help them through the process because almost all consumers want the professional guidance of a trusted real estate agent." Realty Associates' new website from Delta Media sets a standard of excellence for local real estate information by leveraging technology that took 40,000 development hours and an investment of more than $30 million for Delta to create. The new Realty Associates website advanced technology features include: Faster loading web pages: the quickest in the real estate industry. Local valuation engine: Its Automated Valuation Model or AVM offers an instant online estimation of current local home values. Fastest property listing updates: all property details are immediately available when listed. Real-time listing alerts: delivering email notifications as soon as a property that fits a search criteria comes on the market. Rich local content: featuring current real estate market activity, local school insight, and more, are updated continuously. Industry-leading SEO: will drive significantly more traffic to Realty Associates' website. Interactive map integration: the entire site is integrated with Google Map Search to see the proximity of homes to schools, parks, shopping, and other points of interest. Integrated mortgage calculators: estimate monthly mortgage payments instantly. INRIX Drive Time search: search for homes by commute time. 100% mobile responsive design: scales to any screen size, smartphone to desktop. All the new features built into Realty Associates' new website at realtyassociatestex.com. About Realty Associates Realty Associates is one of the largest and most effective marketers of homes and commercial real estate in the greater Houston area, with additional offices in Austin, Dallas-Ft. Worth, San Antonio, and Harlingen, Texas. Realty Associates agents sell more than 5,000 homes a year, totaling over $1 billion in sales since opening its doors more than 45 years ago. Learn more at realtyassociatestex.com. About Latter & Blum Since its founding over a century ago, Latter & Blum has forged an unparalleled reputation as the most successful and largest independent real estate company in the Gulf South, ranked the 19th in the nation, and operates in Louisiana, Southern Mississippi and Greater Houston. For more information, visit latter-blum.com. About Delta Media Group Delta Media Group, Inc., located in Canton, Ohio, is a leading and trusted technology partner for many top real estate brands. Creator of the DeltaNET 6 CRM platform, Delta offers real estate's most advanced all-in-one digital marketing, back office, and website platform. Delta Media Group is real estate's only 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.
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Marilyn Wilson of WAV Group Joins the Executive Leadership Team of the National Small Business Association
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Two Years Later: How the Pandemic Has Rocked the U.S. Housing Market
Redfin reports there are 50% fewer homes to buy, and houses are 34% more expensive, with the median sale price now $369,000 SEATTLE - Mar. 9, 2022 -- This week marks the two-year anniversary of the coronavirus pandemic, which the World Health Organization officially declared a pandemic on March 11, 2020. The housing market has changed drastically since then—there are now half as many homes to choose from, and prices have surged 34%, according to a new report from Redfin, the technology-powered real estate brokerage. Unless otherwise noted, the data in this report represents the four weeks ending March 6, 2022, compared with roughly the same period two years earlier (the four weeks ending March 8, 2020). The records in this report date back to 2017 unless otherwise noted. Buyers Have Half as Many Homes to Choose From The number of homes on the market is down 49.9% from two years ago to a record low of roughly 456,000. Remote work and record-low mortgage rates prompted scores of Americans to move during the pandemic, intensifying a housing shortage that began in the wake of the 2008 financial crisis. With so few homes available to purchase, house hunters have waged fierce bidding wars, causing prices to surge. Homes Are 34% More Expensive The median home sale price is $369,125, the highest on record and up 33.6% from $276,225 two years ago. That's a significantly larger jump than the prior two-year period (2018 to 2020), during which home prices grew about 10%. The Share of Homes Selling for Above the List Price Has Doubled Homebuyers are now twice as likely to pay above the asking price as they strive to beat out the competition, which is one reason home prices have climbed so high. Nationwide, 46.3% of homes sell for more than the asking price, up from 21.8% two years ago. Some bidders are paying significant premiums to win. Nearly 6,000 homes have sold for $100,000 or more over asking price so far this year, up from 2,241 during the same period last year. Homes Are Selling Twice as Fast The typical home sells in 25 days, down from 53 days two years ago. A record 44.7% of homes sell within just one week, compared with 30.8% two years ago. A Record Share of Homebuyers Face Competition A record 70% of home offers written by Redfin agents faced bidding wars on a seasonally adjusted basis in January—the most recent month for which Redfin has data. That's up from 33.4% in April 2020, the earliest month in Redfin's records. An offer is considered part of a bidding war if a Redfin agent reported that it received at least one competing bid. Nearly One-Third of Homebuyers Are Looking to Relocate A record 32.4% of Redfin.com users nationwide looked to move to a different metro area in January—the most recent period for which data is available. That's up from the previous peak of 31.5% in the first quarter of 2021 and significantly higher than before the pandemic, when about one-quarter of homebuyers were looking to relocate. The most popular destinations in January were Miami, Phoenix, Tampa, Sacramento and Las Vegas. Relatively affordable, warm metros normally top the list, and have only become more popular during the pandemic as people have left expensive coastal markets in search of lower prices and more space in the Sun Belt. San Francisco, Los Angeles, New York, Seattle and Washington, D.C. were the top metros homebuyers looked to leave in January. Mortgage Rates Have Returned to Pre-Pandemic Levels After Plummeting to a Record Low Mortgage rates are back above pre-pandemic levels after hitting an all-time low of 2.65% in January 2021. The average 30-year fixed mortgage rate was 3.76% during the week ending March 3, 2022, according to the latest data from Freddie Mac. That's up from 3.29% two years earlier, when early signs of the pandemic had already started to put downward pressure on mortgage rates. Rates started rising sharply at the end of 2021, though they've dropped slightly in recent weeks as Russia's invasion of Ukraine has shaken global financial markets. The Second-Home Market Is Booming Homebuyer demand for second homes was up 87% from pre-pandemic levels in January—the most recent period for which data is available. That's the highest level in a year and just shy of the record 90% gain in September 2020. It's worth noting that preliminary February data suggests second-home demand slowed as mortgage rates jumped. Interest in second homes surged during the pandemic because many affluent Americans purchased vacation properties to escape crowded, boarded-up cities. Additionally, some Americans bought second homes not as vacation properties, but as full-time residences to live in while they rent out their old homes. To view the full report, including charts and methodology, please click here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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Helen Adams Realty offers new help for sellers, buyers including an iBuyer offer
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Former Amazon AI leader Venkatesh Baglodi Becomes zavvie CTO
Boulder, CO - March 3, 2022 -- After leading technology roles at UPS, AT&T, and most recently as the engineering leader at Alexa AI and AWS AI at Amazon, Venkatesh Baglodi has just joined the rapidly growing PropTech startup zavvie as its Chief Technology Officer. Lane Hornung, co-founder and CEO of zavvie, said, "Ven is a seasoned leader with deep experience in building artificially intelligent platforms. A creator of large-scale data and applied science solutions, he brings to zavvie three decades of diverse industry experience from a wide range of industries: e-commerce and banking and finance, telecommunications and logistics. This is a huge catch for zavvie; 2022 is the year when leveraging data will help us better serve our clients and rapidly expand our nationwide footprint." A software technology company that provides real estate brokerages with a marketplace for buying and selling solutions via their own white-labeled platform, zavvie offers brokerages the newest ways to buy and sell homes while keeping agents at the center of every transaction. Ven said that the ability of the zavvie marketplace to scale massively was a key reason for joining as its CTO. "There are more than 100,000 real estate brokers in the U.S. and 1.52 million Realtors. With a highly scalable business strategy, a talented team of smart, motivated people, and a collective real estate business acumen, zavvie is positioned for great success." Stefan Peterson, co-founder and COO at zavvie, adds that Baglodi will help take zavvie's technology prowess "to the next level." "Ven will boost zavvie's ability to serve brokerages even better, as he has the experience and fresh insight — and most importantly, when it comes to technology, Ven knows what's coming next." Before becoming Amazon's engineering leader for Alexa AI and AWS AI, Baglodi served as a senior technology leader at Amazon Prime. His experience also includes seven years at AT&T as principal architecture/development manager, a senior software architect, R&D for three years at McKesson Provider Technologies (now Change Healthcare), and six years at UPS as lead systems architect/technical manager. He has a Ph.D. in Computer Science from Nova Southeastern University, an M.S. degree from Southern Polytechnic State University, and a B.S. degree from The Institution of Engineers (India). Today, over 65,000 real estate agents in 47 states leverage zavvie's platform to serve their clients better. zavvie gives modern brokerages and agents all they need to thrive in today's evolving real estate landscape: easy-to-use tools, technology, training, marketing, and strategy. Learn more at zavvie.com.
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JPAR Real Estate Launches New Technology Platform Powered by kvCORE
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MoxiWorks acquires best-in-class lead nurturing platform, ActivePipe
Acquisition expands the powerhouse suite of solutions in the MoxiCloud SEATTLE, WA. (Feb 22, 2022) -- MoxiWorks, the leading real estate technology platform, announced today the acquisition of ActivePipe, a premier lead nurturing platform for real estate professionals. Founded and headquartered in Australia, ActivePipe operates in four countries supporting more than 2,500 brokerages and more than 40,000 agents. ActivePipe joins MoxiWorks' sphere-based CRM, MoxiEngage, leading CMA interactive presentation tool, MoxiPresent, as well as its recruiting system, marketing suite, websites platform, and most recently its new back-office solution, MoxiBalance. Financial terms of the deal were not disclosed. The ActivePipe lead nurturing platform uses AI to effortlessly automate the process for brokers and agents to stay in touch with all their potential clients. ActivePipe's predictive capabilities identify which clients are most likely to enter into a transaction and alerts clients to unlock opportunities in their database. "With rising interest rates, tight inventory and an uncertain economic future, dependence on paid cold leads that don't convert is a recipe for disaster," said York Baur, CEO MoxiWorks. "Workingto nurture your sphere is the gift that keeps on giving. ActivePipe will help you, the broker and agent, spend less time worrying about where your next lead is going to come from and instead use AI technology to nurture the leads that are already in your sphere." ActivePipe has been part of the MoxiCloud partner network for more than three years helping MoxiWorks clients nurture their sphere. "We have been partners for years with MoxiWorks and could not be more thrilled by the opportunity to create something really powerful by becoming part of the MoxiWorks family," said Ash Farrugia, co-founder and CEO of ActivePipe. "Partnering with MoxiWorks was the natural next step for ActivePipe given its market-leading position in the residential real estate market. This is an exciting and pivotal time to be in the Proptech space and we are confident in this next chapter with MoxiWorks." In 2021 ActivePipe was included in the HW Tech100 and named the Most Innovative Scale-Up Proptech for Sales & Marketing at the inaugural national Proptech Awards. "Between the products we produce, the partners we've assembled in our partner network, and the acquisitions we make, we're assembling the best and brightest products and people in the real estate tech world," said Baur. "We believe in the power of high-quality people and that bringing together innovative companies will truly bring our industry into the future." MoxiWorks acquired marketing automation platform, Imprev, now MoxiImpress, in November of 2019 and most recently acquired reeazily, now MoxiBalance, at the end of 2021. "We are delighted by MoxiWorks' growth and innovation since our initial investment, and we plan to continue to support the company's organic development and strategic acquisitions to further enhance the product set," said Tom Smith, Principal at Vector Capital, which invested in MoxiWorks in 2019. "ActivePipe is a premier product we have closely watched gain momentum over the past few years, and we are excited to add it to the MoxiWorks platform today." Paul Hastings and Johnson Winter & Slattery served as US and Australian legal advisors, respectively, to MoxiWorks. D.A. Davidson & Co. and K&L Gates served as financial and legal advisors to ActivePipe, respectively. To learn more about MoxiWorks and ActivePipe, visit moxiworks.com. About MoxiWorks MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 800 brokerages and 400,000 agents nationwide, accounting for more than 20% of the transactions in the U.S. Their integrated tools are centered on sphere methodology that increases agents' repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 150 partners that integrate to create unique brokerage solutions. Find more information at moxiworks.com. About ActivePipe The ActivePipe Platform uses predictive data technology to identify high value contacts in a real estate agent's database. It analyses their behaviour and interprets their needs to personalise communication and automatically nurture contacts. The company is based in Melbourne, Victoria, with offices in Austin, Texas and Washington D.C. and has been backed by premier investors including NAB Ventures, Firemark Ventures (IAG), PieLAB Ventures, Second Century Ventures, AS1 Growth Partners, and Asia Principal Capital. ActivePipe successfully entered the US market in 2018 and is now considered one of the most leading-edge marketing platforms in the market. About Vector Capital Vector Capital is a San Francisco-based leading global private equity firm focused on transformative investments in technology and technology-enabled businesses. Founded in 1997, Vector oversees approximately $4 billion of capital across its private equity and credit strategies from a variety of investors including university endowments, foundations, and financial institutions. With our disciplined approach to valuation and deep-rooted operational experience, Vector has generated competitive returns and established a successful track record spanning nearly 25 years. For more information, please visit www.vectorcapital.com.
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Real Estate Investors Are Buying a Record Share of U.S. Homes
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kwx Acquires CPros to Expand and Scale Transaction Management Capacities
AUSTIN, TEXAS February 17, 2022 -- kwx, the holding company of Keller Williams, the world's largest real estate technology franchise by agent count, announced today that it has acquired CPros (Conveyance Pros), a full-service provider of concierge transaction management services for real estate brokerages and agents. Terms of the deal were not disclosed. CPros founder and executive director Jason Conner and his full executive team will join kwx. Conner will continue to lead CPros. kwx is planning a corporate rebranding of CPros within 2022. "The benefits of CPros allows our agents a significant, inexpensive leverage point for administrative tasks related to their listings and transactions," said Sajag Patel, vice president of segments, KW. "We are excited to partner with Jason and his team as we provide this concierge service to our agents and their clients across the KW ecosystem." The acquisition of the CPros offering extends KW's existing suite of concierge services. In the second half of 2020, KW originally launched a suite of brokerage- and agent-centric concierge KW Professional Services related to lead generation, marketing, and holistic technology and onboarding support. Founded in 2019, Philadelphia, Penn.-based CPros has more than 20 employees and expects to expand staff significantly over the next 24 months to rapidly scale to meet the demand for transaction management services across the KW ecosystem. "Joining kwx will enable us to further rapidly scale our product engineering services, empower and advance our talent, and provide an immense competitive advantage for KW agents and market centers," said Conner. "KW has always prioritized the success of the individual real estate agent, which is a passion of mine, and a core philosophy to the business we have built," said Conner. "This acquisition was a no-brainer for me. We are so excited to be here and to bring innovative leverage solutions to KW agents everywhere." Currently, CPros supports eight KW market centers, representing more than 2,000 agents. CPros expects to support 60 or more market centers by the end of Q4 '22. The holistic capabilities of CPros will be fully integrated into Command, KW's smart CRM-plus solution. Also, CPros suite of services will be available as part of the KW MarketPlace, an app store on the Keller Cloud platform. "CPros provides the ‘easy button' for functional transaction management tasks for our agents," said Matt Green, head of agent growth and partner experience. "It's another important way we're ensuring our agents are focused on their highest value to clients – their fiduciary tasks." More information on CPros' robust suite of services and core staff are available. High-resolution logos and screenshots of the CPros service offering are available upon request. About kwx Austin, Texas-based kwx is the holding company of Keller Williams Realty, the world's largest real estate technology franchise by agent count. With more than 1,100 offices and 200,000 associates worldwide, Keller Williams is also No. 1 in units and sales volume in the United States. In 2020, Keller Williams initially began the formation of kwx, composed of Keller Williams, Keller Williams Worldwide, and Keller Home Financial Services, consisting of Keller Mortgage, Keller Covered, Keller Offers, and Keller Manage. Since 1983, the company has cultivated an agent-centric, technology-driven and education-based culture that rewards agents as stakeholders. For more information, visit kwx.kw.com.
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MoxiWorks rounds out end-to-end solution for enterprise brokerages with back office product, MoxiBalance
MoxiBalance joins MoxiWorks' slate of products driving brokerage profitability through increased productivity Seattle, WA (January 25, 2022) -- MoxiWorks, the leading real estate technology platform, announced today the launch of their back office system, MoxiBalance. MoxiBalance is designed for brokerage leaders seeking to streamline and facilitate record-keeping in their enterprise office. MoxiBalance evolved from back office solution, Reeazily, which MoxiWorks acquired in 2021. With the addition of MoxiBalance, MoxiWorks now offers a complete end-to-end, lead-to-close, solution for enterprise brokerages. The back office solution joins their easy-to-use suite of tools including their CMA, CRM, websites, and marketing & lead generation solutions all focused on improving and increasing productivity across the brokerage. "MoxiBalance, formerly reeazily, was built by real estate for real estate when RE/MAX Northern Illinois needed a better system for franchise membership management, billing, and reporting," said Senior Director of Product Management, Jim Smoak. "MoxiBalance is robust and intuitive, and fully equipped to handle complex back office reporting for enterprise brokerages of any size." MoxiBalance is an enterprise solution designed to be an end-to-end for brokerages. The system manages the movement of money in clear, reportable, and convenient ways to match the bustling pace of a growing membership, while providing a secure platform to manage your business. MoxiBalance provides all of the features of a robust custom records system with the flexibility of cloud-based software. This provides the best of both systems for optimal back office tech. Brokerages powered by MoxiBalance can: Set up multiple brands and offices and easily connect them to their ledgers Design templates for agent-specific commission structures Build out items for repeatable billing and fixed and variable costs and, Manage agents with the same data populating the rosters of other MoxiWorks products Additionally, MoxiBalance is designed for strong integration with transaction management systems like DocuSign, DotLoop, or SkySlope. It offers two-way QuickBooks sync and subscription-based purchase. This allows users to manage transactions, review documents, collect earnest money deposits, and even automate and export disbursement letters and funds for closing. Easy-to-use profit/loss, drilldowns, cap tracking, and forecasting reports help to protect both businesses and individual agents. "We understand how complex the accounting and back office process can be," said Smoak. "Working with a product that is not only sophisticated and easy to use, but also integrates so seamlessly with your preferred transaction management system will transform your processes and improve the overall functionality of your back office." To learn more about MoxiBalance and how it can benefit your business, visit moxiworks.com. About MoxiWorks MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 800 brokerages and 400,000 agents nationwide, accounting for more than 20% of the transactions in the U.S. MoxiWorks' customer retention over the past seven years stands proudly at 97%. Their integrated tools are centered on sphere methodology that increases agents' repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 100 partners that integrate to create unique brokerage solutions. Find more information at moxiworks.com.
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Curbio Raises $65M to Expand National Fix First, Pay-at-Closing Home Improvement Solution for Brokerages and Realtors
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Adwerx Introduces Motion Ads to Boost Engagement for Berkshire Hathaway HomeServices Network Members
New motion ads will help franchisees win more listings and retain agents with an ad format proven to increase consumer engagement over 50% January 13, 2022, Irvine, CA & Durham, NC -- Berkshire Hathaway HomeServices launched Automated Advertising powered by Adwerx to the franchise system's nationwide network of over 50,000 real estate agents in May 2019. Since the initial launch, the company and its network members experienced tremendous financial return, with both new network agents and top producers winning more listings as a direct result, according to the Berkshire Hathaway HomeServices leadership team. The program gives every network member access to a suite of digital advertising services as part of a system-wide initiative to build the Berkshire Hathaway HomeServices brand. Now, one of the world's leading franchisors of real estate brokerages has announced that it is working with Adwerx to power motion ads for every campaign it runs through the automated advertising program. This new feature allows for display advertising to be animated using HTML5 technology, an ad type proven to drive higher engagement and improved click-through rates. The company is one of Adwerx's first customers to receive access to this technology across every ad type, and the attention-grabbing display ads will equip network members with more memorable campaigns, influencing recall and recognition of their personal brands. "We've been continuously impressed with Adwerx's innovation over the last few years, their team is constantly bringing new ideas to the table," said Christy Budnick, CEO, Berkshire Hathaway HomeServices. "The ability to upgrade our automated listing and branding campaigns to a motion design creates another opportunity for our network members to enhance the marketing of the properties they are representing." In today's increasingly crowded digital environment, advertisers need to find new ways to stand apart from their competition and capture the attention of consumers. Adwerx Motion™ combines the effectiveness of precision targeting with the power of motion to create content that is seen by more prospects, increasing the visibility of each ad campaign. "Ads must stand out to get noticed," said Jed Carlson, CEO of Adwerx. "But ads also need to be 'on-brand' if they are to deliver the right kind of impact. Our new Motion Ads do both, automatically. Berkshire Hathaway HomeServices is one of the most iconic brands in the Real Estate sector, and these new Motion Ads deliver superior performance while enhancing the value of an already notable brand. It's a perfect fit." Adwerx Motion™ is now available to any current or future firm that automates advertising with Adwerx. Learn more at enterprise.adwerx.com/motionads. About Berkshire Hathaway HomeServices Berkshire Hathaway HomeServices is a global residential real estate brokerage franchise network with more than 50,000 real estate professionals and nearly 1,500 offices throughout the U.S., Canada, Mexico, Europe, the Middle East, The Bahamas and India. In 2020, the Berkshire Hathaway HomeServices global network represented more than $138 billion in real estate sales volume. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability, and longevity. About Adwerx Adwerx provides Customer Relationship Advertising™ to over 500 enterprises and more than 400,000 sales producers. The platform provides personalized advertising at scale for distributed sales teams across real estate, mortgage, wealth management, financial services, independent software vendors, or any other sales organization that could benefit from humanizing their brand and keeping their sales producers top of mind, all the time, with the right audience. Ad templates are created using a FaceForwardTM method – an approach to advertising that puts the company's local salesperson or agent on every ad and is based on the psychological principles of trust and empathy that drive human behavior. Adwerx targets these customized ads programmatically to the salesperson's specific list of prospects or clients across popular websites, Facebook and Instagram, mobile apps, and streaming TV – increasing brand visibility, boosting productivity by 15%, and reducing turnover by 42%. Learn more at adwerx.com.
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MoxiWorks unveils upgrades to digital advertising platform, MoxiPromote
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HomeSmart Approaches 25,000 Agent Mark with Acquisition of Champions Real Estate Group
HomeSmart has acquired Houston-based brokerage Champions Real Estate Group. SCOTTSDALE, ARIZ. - JANUARY 05, 2022 -- HomeSmart has acquired Houston-based brokerage Champions Real Estate Group and its more than 1800 agents. Champions has been serving the entire Houston real estate market for 20 years. This latest acquisition brings HomeSmart's nationwide network to nearly 25,000 agents and increased its footprint to over 200 office locations across over 40 states. "HomeSmart's technology enables scalability," said Matt Widdows, HomeSmart's founder and CEO. "Our model of providing agents choice in technology tools, 100% commission or revenue share, and a high level of service and support truly sets us apart from the other brokerages in the space." Ignacio Osorio, President and CEO of Champions Real Estate Group, built his brokerage on a foundation of support, providing his agents the service they require to succeed in even the most challenging markets. "I know with HomeSmart, my agents are in the best hands," said Osorio. "As Champions Real Estate Group, we have always been known for our support, but now we will be able to provide our agents with even more technology, training and resources that will allow them to better serve home buyers and sellers." Osorio will stay on as an integral part of the Houston-based team, following HomeSmart's acquisition. This brokerage will continue to bolster the brand's expanding footprint in Texas, joining the company's other corporate and franchised locations across the state. All agents will continue to have access to the current offices in Houston, Pearland, The Woodlands, San Antonio, Fort Worth and Austin. HomeSmart will be updating these locations to be equipped with state-of-the-art conference rooms, computers, and SmartReception virtual receptionist technology. Agents will also have access to HomeSmart's proprietary RealSmart Tech Suite. "Our technology is a game changer for real estate agents," added Widdows. "Our integrated platforms allow them the time to dedicate to their clients, rather than being bogged down with paperwork and transaction management tasks. Amazing customer service is HomeSmart's number one priority–our tech allows us to better serve our agents so they can better serve their clients." About HomeSmart Founded in 2000, HomeSmart is ranked in the top 7 real estate brokerages in the United States and the number one brokerage firm in the Phoenix market and in Colorado. From its international franchising headquarters based in Scottsdale, HomeSmart offers franchisees efficiency and innovation coupled with the systems and technologies necessary to succeed in today's evolving real estate industry. For more information on HomeSmart International and its franchise opportunities, visit www.homesmart.com.
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Brokers, Title Companies and Mortgage Companies Driving New Revenue Growth Through Homeownership Services
Innovative real estate tech franchise from MooveGuru has sold franchises in 20 states in first 180 days of offering. ATLANTA, Jan. 6, 2022 -- Through its automated data capture and delivery platforms, the first PropTech franchise emerges from a likely source--MooveGuru. For five years, MooveGuru has been perfecting the consumer experience during their moving process. Now, the robust platform supports consumers with services throughout the homeownership lifecycle. The prop tech firm is the first to offer franchises that allow real estate service providers in brokerage, title and mortgage to purchase franchises. The MooveGuru franchise enables these companies to deliver a home ownership portal called YourHomeHub that allows homeowners to gain access to preferred local services at a discount. The success comes from being local. YourHomeHub is the first consumer portal that is "Everything Home," meaning it allows homeowners to manage both the financial details and physical elements of their home. The consumer can monitor extensive information about their home and local market conditions, store important documents, generate accurate estimates for home repairs and find a local contractor for over 1,000 different home service categories. Each YourHomeHub is sponsored by local real estate brands, driving top of mind marketing and revenue from consumer purchases. The platform, provided by real estate professionals, gives a powerful homeowner resource to their customers—at no cost to them. Real estate professionals also receive exclusive marketing opportunities to their spheres of influence, which prevents competitors from engaging with their most coveted contacts from the dashboard. Startup costs, including the initial franchise fee for a unit franchise, are under $50,000. "We have expanded our franchise coverage area to 20 states in 180 days," said Kathleen Kuhn, President of MooveGuru. "Statewide rights have been issued in AL, CO, DE, FL, GA, KY, LA, MI, MS, MT, NC, OH, OK, PA, SC, TN. DC, VA, WV, MD, TX and NM scheduled to close on the 20th of January." Franchise owners trend towards real estate brokerages who have experience with operating affiliate companies, followed by Mortgage and Title companies. Mortgage brokers typically partner with their top real estate agents for cobranding and split the opportunity fifty-fifty for RESPA compliance. Title companies are offering the service on all their title closings. The franchise pays 10-20 percent of net subscription to franchise owners. The more subscriptions to YourHomeHub and the more leads generated for service pros, the more the franchise owner makes. "The growth plan for our business has always been focused on how we can provide a better experience for our clients and our agents, while at the same time continuing to diversify our brokerage revenue streams," said Michael Patterson, Broker & Owner of Maryland based RE/MAX IKON. "When I was introduced to YourHomeHub, Scott Oakley and the leadership team, I was immediately impressed with the level of talent that has been amassed and knew it was the next business we needed to add in our service offerings." Your Home Hub franchise is the perfect opportunity for someone who loves to network, desires flexible work hours and is looking for a recurring revenue model. It offers four different channels to generate income: Marketing Subscriptions to Real Estate Professionals Lead Generation for Service Professionals Utility Concierge Revenues Sponsorships from Lenders and Home Inspectors To learn more about a Your Home Hub Franchise and available territories, please email [email protected] or visit yourhomehub.com. About MooveGuru MooveGuru Inc. is based in Roswell, GA. In 2016 the company launched a free mover engagement program to real estate agents and brokers with the idea of connecting home buyers and sellers to convenience and savings on moving services. Using just-in-time delivery through artificial intelligence algorithms, MooveGuru Inc. ensures consumers receive agent-branded savings and convenience from national and local retailers and utility connections as they step through the relocation process. Today, more than 1500 brokerages, 300,000 agents, and millions of homeowners are connected to the MooveGuru and YourHomeHub platforms.
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Redfin Survey: Three-Quarters of Homebuyers and Sellers Report Changing Plans Due to Inflation
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eXp Realty Exceeds 70,000 Real Estate Agents Globally
Milestone Represents 69% Agent Growth Since Start of 2021 BELLINGHAM, Wash. - Dec. 13, 2021 -- eXp Realty, the fastest-growing real estate brokerage in the world and the core subsidiary of eXp World Holdings, Inc., today announced it has exceeded 70,000 agents globally, representing an increase of 69% when compared to 41,313 agents at the start of 2021. The milestone follows a record third quarter in 2021, whereby revenue increased 97% to $1.1 billion and gross profit increased 70% to $79.5 million when compared to the third quarter of 2020. "Our agent-centric focus and continuous innovation has allowed us to continue adding real estate agents to the eXp Realty platform in greater numbers every year," said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. "As the fastest-growing real estate brokerage on the planet, we will look to enhance the agent value proposition to continue our eXponential growth well into the future." In 2021, eXp Realty expanded into nine new international locations, including Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama and Germany. In addition, eXp established SUCCESS® Lending, LLC, a residential lending joint venture with Kind Lending, LLC, as well as the eXp Innovation Hub, a collaborative environment to create services and capabilities that make a difference in the day-to-day life of eXp Realty agents. eXp ended the third quarter of 2021 with a global Net Promoter Score of 69, a measure of agent satisfaction, through the company's intense focus on the agent experience. Following are some of the recent teams and agents who have joined eXp Realty in 2021: Kathy Helbig in St. LouisKathy Helbig and her 30-person team joined eXp Realty in April 2021. Her team closed on 303 transactions for $87 million in 2020. Chris Fritch in MinneapolisChris Fritch and his 12-person team joined eXp Realty in April 2021. In 2020, his team closed 234 transactions for $78 million in sales. Viet Le and the Pinnacle Team in MinneapolisViet Le and the 44-agent Pinnacle Team, which operates across Minnesota, Wisconsin and Florida, joined eXp Realty in May 2021. The Pinnacle Team closed $107 million in gross sales on 373 transactions in 2020. Jose Esparza in Northwest ArkansasJose Esparza and his 10-person team joined eXp Realty in June 2021. Esparza's team closed on 215 transactions for $40 million in gross sales in 2020. Susan Duncan and High Vistas Realty in Asheville, North Carolina Susan Duncan and her 105-agent team joined eXp Realty in July 2021. High Vistas Realty completed $102 million in sales volume on 405 transactions in 2020. Alejandro Lopez and GL Capital Team in MexicoAlejandro Lopez and the 26-person GL Capital Team joined eXp Mexico in August 2021 with operations in Chihuahua, Cancun and Tulum. Eric Gedalje and The Janecek Gedalje Group in Lake Havasu City, ArizonaEric Gedalje and his 12-agent team joined eXp Realty in October 2021. The Janecek Gedalje Group closed $136 million in sales on 346 transactions in 2020. Shashank Chauhan and Team URRBO of IndiaShashank Chauhan and his 8-agent team, URRBO, joined eXp India in November 2021. Frank Gray and Abby Realty in HoustonFrank Gray, founder of Abby Realty, a 472-person independent brokerage, joined eXp Realty in November 2021. The Abby Team completed $399 million in sales on 2,358 transactions in 2020. About eXp World Holdings, Inc. eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises. eXp Realty is the fastest-growing real estate company in the world with more than 70,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama and Germany, and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS Enterprises, anchored by SUCCESS magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication. For more information, visit expworldholdings.com.
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Redfin Reports Rents Jumped 7% in a Month, Up 21% from 2020
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Redfin Reports 10 Housing Records Set in 2021
A record year for the U.S. housing market included the highest home prices and lowest supply of all time SEATTLE, Dec. 13, 2021 -- The coronavirus pandemic and the resulting surge in remote work have changed where, when, why and how people buy homes, according to a new report from Redfin, the technology-powered real estate brokerage. This past year, home-sale prices hit the highest median of all time, the number of homes for sale fell to an all-time low, and there was record demand for second homes. "The ongoing pandemic, including its seismic effect on the U.S. economy and the way Americans live and work, has made 2021's housing market anything but typical," said Redfin Chief Economist Daryl Fairweather. "Remote work, low mortgage rates, a shortage of building materials and wealth inequality that has allowed an influx of affluent Americans to buy vacation homes, to name just a few factors, have come together to create a historic year for real estate. Buyers paid more for homes, bought sooner than they planned, searched outside their hometowns or all of the above. This year's frenzied housing market has been one for the books—but it may become more balanced in 2022." Redfin created 10 charts that illustrate the records set in the 2021 housing market, available in the full report and summarized below. Record #1: The typical U.S. home sold for nearly $400,000 The national median home-sale price hit $386,000 in June, an all-time high and up 24.4% year over year. The median sale price may hit another all-time high before the end of the year. U.S. home prices have been growing by double digits all year, thanks to low inventory and high demand. Prices are much higher than they were pre-pandemic in just about every part of the country. Record #2: Home supply dropped to its lowest level in history There were just 1.38 million homes for sale in June on a seasonally adjusted basis. That's an all-time low and down 23% year over year. The U.S. is in a housing-supply shortage for a combination of reasons: A lack of new construction, surging demand from buyers, and homeowners taking advantage of low mortgage rates to refinance rather than sell, to name a few. Record #3: The typical home sold in just 15 days The typical home that sold in both June and July was on the market for just 15 days. That's the lowest median days on market in history and down from 39 days in June 2020. The speed of the market is due partly to the supply crunch, which has led buyers to pounce on homes as soon as they're listed for sale, often without even seeing them in person. Record #4: Over 60% of homes went off the market in two weeks Speaking of a fast market, 61.4% of homes that went under contract in March had an accepted offer within two weeks of hitting the market, an all-time high. Record #5: More than half of homes sold above list price Of homes that sold in June, 56.5% went for above list price. That's a record high and up 29.6 percentage points from a year earlier. The average home sold for 2.6% above list price in June, another record high. Homes selling above list price is typically due to bidding wars, which were commonplace this year: Nearly three-quarters of offers written by Redfin agents in April, for instance, encountered competition from another potential buyer. Record #6: Mortgage rates dropped to 2.65% The average 30-year fixed mortgage rate hit 2.65% the week ending January 7, 2021, the lowest of all time. Low mortgage rates are one reason for this year's homebuying frenzy, which has ultimately resulted in the supply shortage and surging prices. Record #7: Investors purchased nearly 1 in 5 of all homes bought in the U.S. Real estate investors bought 18.2% of homes that were purchased in the U.S. during the third quarter of 2021. That's a record-high share and up from 11.2% a year earlier. In dollar terms, investors bought a record $63.6 billion worth of homes over that period, up from $35.7 billion a year earlier. Many individual homebuyers have found it tough to compete with investors, just one factor that has made the housing market tough for buyers this year. Record #8: Demand for second homes nearly doubled from before the pandemic Homebuyer demand for second homes was up 91% from pre-pandemic levels in January, marking record growth. Demand for vacation homes soared as remote work took hold in mid-2020, leaving many affluent white-collar workers with the ability to work from beach houses and ski chalets. Record #9: Nearly one-third of Americans looked to move to a different metro area In another side effect of the surge in remote work, 31.5% of Redfin.com users looked to move to a different metro area in the first quarter of 2021, an all-time high and up from 26% from a year earlier. That's partly due to remote workers moving to relatively affordable areas in search of larger homes, more outdoor space and sunny weather. Record #10: The typical luxury home sold for 25% more than the year before The median sale price of U.S. luxury homes jumped 25.8% year over year to $1,025,000 in the second quarter of 2021, marking record price growth. That's compared with 16% year-over-year growth for mid-priced homes and 13.2% growth for affordable homes. Price growth for luxury homes outpaced that of more affordable homes partly due to affluent Americans reaping the benefits of the year's strong stock market, gains in home equity and remote work. To read the full report complete with charts, click here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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Keller Williams Launches New Mobile App for Command
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Redfin Reports For-Sale Home Supply Hits All-Time Low
Home prices hit a new all-time high as it became even more common for homes to find buyers within one week SEATTLE, Dec. 1, 2021 -- The number of homes for sale hit an all-time low during the week ending November 28, according to a new report from Redfin, the technology-powered real estate brokerage. During that period, sustained demand pushed the median home price to another record high, and a third of homes sold in one week or less. "The number of homes for sale typically declines another 15% in December," said Redfin Chief Economist Daryl Fairweather. "That means that by the end of the year, there will likely be 100,000 fewer homes for sale than there were in February when housing supply last hit rock bottom. I think more new listings will hit the market in the new year, but there will also be a long line of buyers who are queuing up right now." "Meanwhile, headlines and new restrictions related to the omicron variant of the coronavirus might fuel some uncertainty and volatility in the economy," Fairweather continued. "In the short term, global interest rates, including mortgage rates, could fall. In this extremely tight housing market, we would quickly see a proportional increase in competition and home prices." Key housing market takeaways for 400+ U.S. metro areas: Unless otherwise noted, this data covers the four-week period ending November 28. Redfin's housing market data goes back through 2012. The median home-sale price hit a new all-time high of $360,375, up 14% year over year. This was up 31% from the same period in 2019 and up 1.5% from a month earlier, far greater than the 0.2% increase seen during the same period last year. Asking prices of newly listed homes were up 12% from the same time a year ago and up 27% from 2019 to a median of $349,750. Pending home sales were up 8% year over year, and up 49% compared to the same period in 2019. New listings of homes for sale were down 4% from a year earlier, but up 12% from 2019. During the seven-day period ending November 28, active listings fell to a new all-time low. For the four-week period, active listings fell 23% from 2020 and 42% from 2019. 45% of homes that went under contract had an accepted offer within the first two weeks on the market, above the 39% rate of a year earlier and the 28% rate in 2019. Since the four-week period ending September 19, the share of homes under contract within two weeks is up 2.3 percentage points. During the same time in 2019, the share fell 3.1 points. 33% of homes that went under contract had an accepted offer within one week of hitting the market, up from 27% during the same period a year earlier and 18% in 2019. Since the four-week period ending September 12, the share of homes under contract within a week is up 2.9 percentage points. During the same time in 2019, the share fell 2.3 points. Homes that sold were on the market for a median of 25 days, down from 31 days a year earlier and 46 days in 2019. 43% of homes sold above list price, up from 35% a year earlier and 21% in 2019. On average, 3.8% of homes for sale each week had a price drop, up 0.7 percentage points from the same time in 2020 and up 0.2 points from this time in 2019. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, was 100.5%. In other words, the average home sold for 0.5% above its asking price. Other leading indicators of homebuying activity: Mortgage purchase applications increased 5% week over week (seasonally adjusted) during the week ending November 26. For the week ending November 24, 30-year mortgage rates were flat at 3.1%. Touring activity through November 21 fell about 1 percentage point behind 2019 relative to the first week of January according to home tour technology company ShowingTime. The Redfin Homebuyer Demand Index fell 7% during the week ending November 28 but was up 9% from a year earlier. To view the full report, including charts and methodology, click here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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zavvie releases new iBuyer and Power Buyer Report
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Redfin Reports Home Prices Hit a New All-Time High
Homebuyers face a market that is already heating back up with a third of homes selling in just one week SEATTLE, Nov. 24, 2021 -- Home prices hit a new all-time high of $359,975 in the four-week period ending November 21, according to a new report from Redfin, the technology-powered real estate brokerage. This was up 14% year over year, the largest increase since early September. Prices have risen in the past month nearly four times faster than they did at the same time last year. The unseasonable surge in home prices appears to be drawing in more sellers, as the number of homes listed for sale was down less than 3% from 2020, and up 11% from 2019. "Rising rents and rising prices on everything from gas to groceries may be motivating more people to buy homes now," said Redfin Chief Economist Daryl Fairweather. "Buying a home is a type of hedge against inflation, especially with mortgage rates still near historic lows. If high inflation persists, a large home mortgage could seem a lot less expensive in just a few years." Key housing market takeaways for 400+ U.S. metro areas: Unless otherwise noted, this data covers the four-week period ending November 21. Redfin's housing market data goes back through 2012. Asking prices of newly listed homes were up 12% from the same time a year ago and up 26% from 2019 to a median of $352,250. Pending home sales were up 8% year over year, and up 51% compared to the same period in 2019. New listings of homes for sale were down 2.7% from a year earlier, but up 12% from 2019. Since the four-week period ending October 3, new listings are down 16%, a smaller decline than over the same period in 2019 (-21%) and in 2020 (-18%). Active listings (the number of homes listed for sale at any point during the period) fell 22% from 2020 and 41% from 2019. 45% of homes that went under contract had an accepted offer within the first two weeks on the market, above the 39% rate of a year earlier and the 28% rate in 2019. Since the four-week period ending September 19, the share of homes under contract within two weeks is up 1.6 percentage points. During the same time in 2019, the share fell 2.9 points. 32% of homes that went under contract had an accepted offer within one week of hitting the market, up from 27% during the same period a year earlier and 18% in 2019. Since the four-week period ending September 12, the share of homes under contract within a week is up 2.5 percentage points. During the same time in 2019, the share fell 2.2 points. Homes that sold were on the market for a median of 24 days, down from 31 days a year earlier and 46 days in 2019. 43% of homes sold above list price, up from 35% a year earlier and 21% in 2019. On average, 4.3% of homes for sale each week had a price drop, up 0.8 percentage points from the same time in 2020 and up 0.2 points from this time in 2019. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, has declined just 0.1 points from 100.6% to 100.5% over the past month. In other words, the average home sold for 0.5% above its asking price. Other leading indicators of homebuying activity: Mortgage purchase applications increased 5% week over week (seasonally adjusted) during the week ending November 12. For the week ending November 18, 30-year mortgage rates rose back above 3% to 3.1%. Touring activity through November 21 fell about 1 percentage point behind 2019 relative to the first week of January according to home tour technology company ShowingTime. The Redfin Homebuyer Demand Index fell 7% during the week ending November 21 but was up 14% from a year earlier. To view the full report, including charts and methodology, click here. About Redfin Redfin is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country's #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 6,000 people.
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Adwerx Secures $14.5M to Support Rapid Growth of Customer Relationship Advertising Platform
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MoxiWorks Home Sales Predictor Proves Strong Accuracy for First Year
The technology company shares the accuracy of its first full year of data, looks ahead to next year Seattle, WA (November 11, 2021) -- MoxiWorks, the leading real estate technology platform, announced today the results from the first year of data for its Home Sales Predictor. The Home Sales Predictor, which launched in October of 2020, correlates agent activity inside the MoxiWorks suite of solutions to closed listings nationwide, two months in the future. Unlike traditional home sales reports which use lagging indicators such as past sales data and consumer behavior for their reporting, the Home Sales Predictor uses leading indicator data focused on the productivity of agents to deliver their two-month projections. The first year of predications resulted in an average accuracy within 6% of closed listings across the US. For example, in September MoxiWorks predicted 564k home sales, while the actual was 572k making for an only 1% difference. Throughout the year every month's prediction was within 6% or lower, with many months within 1% or less of the actual number of sales. The two exceptions they saw were in January and June, which MoxiWorks attributes to national events that interrupted the normal flow of sales during those months that threw off the predictions. "It's been such an insightful first year of our Home Sales Predictor," said MoxiWorks CEO, York Baur. "We launched this predictor during a pandemic as we noticed the productivity of our agents directly correlated with closed listings across the US. It has helped us and our clients make sense of the wild last 18 months in the real estate industry and we look forward to continuing to become more and more accurate with our predictions. And to work to add additional insights over time." With over 95% of the U.S. real estate data in the MoxiCloud, the predictions give a clear, unique picture of the future. The Home Sales Predictor leverages data from agent activity inside the MoxiWorks suite of products. MoxiWorks' data team analyzes this data and is able to correlate the activity to closed listings two months into the future. "What's unique about MoxiWorks is our ability to tie customer transaction data to product usage. It's a Data Scientist's dream," said Ali Lundberg, Lead Data Scientist, MoxiWorks. "Lots of software companies gather data on the usage of their products but they can't compare it to the work of their customers. This ability has been the key to making our products more beneficial to agents, giving our customers insights on how to better their business, and now, with the Home Sales Predictor, we are able to give our customers insights to their market. This is just the beginning of what MoxiWorks is hoping to predict." The MoxiWorks Home Sales Predictor is published for free to subscribers every month. To learn more about the predictor, or to subscribe, visit moxiworks.com. About MoxiWorks MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 800 brokerages and 400,000 agents nationwide, accounting for more than 20% of the transactions in the U.S. MoxiWorks' customer retention over the past seven years stands proudly at 97%. Their integrated tools are centered on sphere methodology that increases agents' repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 100 partners that integrate to create unique brokerage solutions. Find more information at moxiworks.com.
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Plunk Partners with Restb.ai to Power the Next Generation Home Valuation Platform
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Lone Wolf launches one-click Digital Home Warranty in Transactions
Real estate professionals can give clients peace of mind with a simpler way to order a home warranty CAMBRIDGE, ON, and DALLAS, TX - November 3, 2021 - Helping clients purchase home warranties just got easier. Today, Lone Wolf Technologies ("Lone Wolf") is thrilled to launch Digital Home Warranty, a new free feature that enables agents and brokers with one-click home warranty orders right within Lone Wolf Transactions (zipForm Edition and TransactionDesk Edition), the leading transaction management member benefits provided to over one million agents in the U.S. With Digital Home Warranty, agents select a home warranty provider and submit orders with one click through Transactions. This new feature follows recent initiatives to connect yet another critical transaction management process and ancillary service into Transactions-including title insurance, seller disclosures, tenant screening , and more-and provides agents and brokers across the country with a single solution for everything from listing to offer to close. "We're creating the ultimate unified platform for real estate, one that bridges any and all gaps in the real estate process and gives our customers everything they need to complete their clients' experience," said Jimmy Kelly, CEO of Lone Wolf Technologies. "With leading digital forms, eSignature, title insurance, and now home warranty orders built into the system, Transactions is the gateway to this complete experience and a mission-critical solution for real estate agents and brokers everywhere." Digital Home Warranty eliminates the extra steps in a process that have long felt disconnected for real estate agents and brokers. Transactions pre-loads relevant information and syncs documentation from both sides of the transaction. Digital Home Warranty was made possible in part from collaboration with leading providers, including Achosa Home Warranty, Choice Home Warranty, Cinch Home Services, First American Home Warranty, Old Republic Home Protection, Super, and more to come. "It's a testament to the spirit of collaboration in the industry right now that these leading and trusted brands have come together to simplify this crucial real estate process," said Jason Cheverton, Vice President of Strategic Channels at Lone Wolf. "Digital Home Warranty makes it so much easier for the people that matter-buyers, sellers, and the real estate professionals helping to guide them-to be on the same page and have peace of mind in a final step in the home purchase process." About Lone Wolf Technologies Lone Wolf Technologies is the North American leader in residential real estate software, serving over 1.5 million real estate professionals across Canada and the U.S. With cloud solutions for agents, brokers, franchises, MLSs and associations alike, the company provides the entire real estate industry with the tools they need to amaze clients, build their business, and improve profits-from transactions to back office, insights, and more, all in one place. Lone Wolf's head offices are located in Cambridge, ON, and Dallas, TX.
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Redfin Survey: 50% of Homeowners Who Recently Moved Cited Crime as Important Factor
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Inside Real Estate launches CORE Home, first-of-its-kind homeownership solution to put real estate brokerages at the center of the coveted lifetime consumer relationship
The breakthrough technology will be available to kvCORE users in 2022 SALT LAKE CITY, UTAH, OCTOBER 25, 2021 -- Inside Real Estate, one of the fastest-growing independently owned real estate software companies and a trusted technology partner to over 250,000 top brokerages and their teams and agents, is set to transform the real estate industry with the first product release from its new homeownership technology, CORE Home. CORE Home is a consumer destination, branded completely to the brokerage and agent. It anchors consumers in a single place, allowing brokerages to deliver a seamlessly connected experience throughout the entire homeownership lifecycle: from living in a home and understanding its value, to searching for their next home, to streamlining the complexities of a current transaction, to moving into a new home and back to living in their current home. CORE Home will be available via mobile web, allowing all kvCORE Platform customers to provide this experience to their clients, at no additional cost. Brokerages will also have options for a fully branded, custom mobile app. Inside Real Estate's investment in this groundbreaking, consumer-facing technology enhances the value that brokerages and their agents deliver to consumers, creating coveted lifetime relationships that leap-frog the generic experiences available today from large portal players. Inside Real Estate began building the homeownership solution 18 months ago as a partner product to kvCORE, its flagship Platform. CORE Home was built with the brokerage and agent front and center. The product is designed to keep them top of mind with consumers, increase repeat and referral business, and ensure they stay at the center of the real estate transaction. Future extensions to CORE Home will help brokerages increase profitability through the monetization of affiliated services. "At our heart, we are the tech partner for real estate brokerages, and we're stepping forward arm in arm with our broker partners to provide what the industry needs next," says Joe Skousen, CEO at Inside Real Estate. "It's time for consumers to be able to enjoy the most modern, tech-enabled experiences around what is the largest asset in most of our lives. On top of that, they should be able to work with the brokerage brands and agents who they trust as their local home advisor through not only a home sale, shopping, and purchase experience; but through every aspect of their homeownership lifecycle. Honestly, it's what every consumer is looking for and what every brokerage is designed to deliver." CORE Home is branded entirely to the brokerage and reinforces an exclusive agent relationship with every consumer interaction. CORE Home allows brokerages and their agents to deliver a modern, tech-enabled experience that engages consumers throughout their homeownership journey, including these four cyclical components: Current Home: Helps consumers understand and manage their greatest asset with real-time alerts around home value and detailed local market data, along with visibility into their mortgage and insurance information, trends, and opportunities to ensure they have the most competitive rates available. Brokerages and agents stay top of mind as a vital information source versus the homeowner going to Zillow or other sources every day. Next Home: Empowers Brokers and their teams and agents with a portal-grade search and discovery experience, tailored to the client's life. From exploring their next move with an advanced search experience to insights designed to engage and "delight" with personalized results that evolve based on consumer behavior. Homeowners can use tools to understand how much they can afford for their next home and get pre-qualified for a purchase. Brokerages and agents can finally provide a modern search experience that beats the large portals, and become the first to know when a consumer starts shopping for their next home. Buy & Sell: For Brokers and Agents with integrated services, active home buyers and sellers get the convenience of monitoring their entire transaction in one place, with tracking every step of the way including contingency removals, home inspection, appraisal, mortgage status, title, and more. Brokerages and agents benefit by being the provider of this modern, simplified experience that buyers and sellers have dreamed about for decades. Move: Once the transaction is complete, homebuyers and sellers can tap into the help they need with moving companies, home improvement companies, and services all within the same app they've used to manage their home and transactions. Brokerages and agents build lasting client relationships with the all-encompassing, tech-driven app that gives homeowners instant and trusted access to everything they need to manage their move now, and their home forever. A fully integrated chat feature will ensure homeowners can instantly reach out and interact with their agent at any stage in the journey, keeping the agent as the long-term homeownership advisor for the consumer. Following the launch of CORE Home, Inside Real Estate will continue the development of their homeownership technology with the launch of CORE Services Connect, an integrated workflow and connector for brokerages affiliated service partners in 2022, with options for brokerage integration into their CORE Home app., This additional set of optional integrations will provide end-to-end transaction tracking and allow agents and title representatives, loan officers, transaction coordinators and more to easily communicate with the homeowner and keep them informed throughout the process. "Until now, there hasn't been a single, personalized solution with the tools and information consumers need to create the digital experience they desire that's both accessible and effective," said Nick Macey, President of Inside Real Estate. "Our new homeownership platform is filling that void by combining innovative technology with the powerful broker and agent experience that our customers provide, to ensure a seamless process for all parties involved in the homeownership cycle."A beta version of the homeownership solution will be available to select kvCORE brokerages this fall and all kvCORE brokerages clients and their agents will get the desktop and mobile web version of CORE Home for free in 2022. A paid, custom-branded mobile app version will also be available exclusively to kvCORE customers. About Inside Real Estate: Inside Real Estate is a fast-growing, independently-owned real estate software firm that serves as a trusted technology partner to over 250,000 top brokerages, agents, and teams. Their flagship product, kvCORE Platform, is the most modern and comprehensive solution in the industry known for delivering profitable growth at every level of a brokerage organization. Built on a modern, scalable, and flexible architecture, kvCORE enables every brokerage to create its own unique technology ecosystem through custom branding, robust integrations, and high-quality add-on solutions. With an accomplished leadership team and its talented staff of 250 employees, Inside Real Estate brings the resources, scale, and vision to deliver ongoing innovation and success to their growing customer base.
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MoxiWorks adds to leading suite of technology, acquires reeazily
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RPR Hits 10,000 Broker Tools Enrollment Milestone
CHICAGO, IL (October 20, 2021) -- RPR (Realtors Property Resource) is pleased to announce that it has enrolled 10,000 real estate companies in its Broker Tools program. RPR Broker Tools are a set of features that offer broker/owners and managers an array of resources and benefits. Perhaps most visible of these is adding brand value by offering companies the ability to brand RPR reports created by a brokerage's agents. Other unique tools available are Custom Pages, Affiliated Service Modules, the AVM Widget and Deep Links. And, it's all available at no additional cost as RPR is included as part of NAR (National Association of REALTORS®) member benefits. "The RPR Broker Tools program provides tremendous value to our agents, which in turn, provides value to our brokerage," said Helen Hanna Casey, CEO of Howard Hanna Real Estate Services. "This includes business-building assets, such as Howard Hanna branded reports, which allow our agents to provide buyers and sellers with the most up to date and complete data to help them achieve their goals." RPR Broker Tools offers self service enrollment to all companies nationwide. Additionally, the Broker Services team delivers concierge level support to the top 300 brokerages in the nation by working one on one to build relationships and demonstrate value. Another important focus is partnering with franchise organizations by offering national branding, educational sessions, train-the-trainer programs as well as participating at conventions as speakers and vendors. All of these activities drive awareness and increased usage of RPR. "To get 10,000 companies in the real estate business signed up for anything is a tremendous feat, but the real key is seeing these organizations take advantage of a tool that is provided as a NAR member benefit that adds value to the company and the REALTOR®," said Ray Gronowski, RPR's Vice President of Broker & Specialty Services. Here is a brief timeline which highlights a few key facts and milestones over the last 10 years: 2011: Edina Realty from Minnesota is the first company to enroll in RPR Broker Tools 2012: Coldwell Banker franchise network is branded nationally 2013: Howard Hanna Real Estate Services engages with RPR 2015: RPR reaches enrollment with the Top 100 brokerages nationally 2017: RE/MAX network is branded nationally, as RPR Broker Tools reaches 6,600 companies 2018: eXp Realty brands join Broker Tools, representing over 53,000 agents 2020: Four national franchisors engage RPR through their Commercial divisions: Century 21, HomeSmart, NAI Commercial and Coldwell Banker Commercial 2021: 10,000th company to enroll is Vanguard Properties in San Francisco, CA Each Broker enrollment and partnership with RPR is unique and delivers a particular value proposition to all 10,000 brokerages. Visit the RPR website for more details and information on RPR's Broker Tools program. About Realtors Property Resource® RPR®, Realtors Property Resource®, LLC, a wholly-owned subsidiary of the NATIONAL ASSOCIATION OF REALTORS®, is offered exclusively to REALTORS® as a member benefit from the National Association of REALTORS®. It allows them access to the platform's data sets which range from tax and mortgage history to listings, sales, valuations, demographics, and school information. As a powerful marketing tool, RPR® also allows REALTORS® to create robust, client-friendly reports that can be printed, emailed or texted from anywhere at any time.
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