Imagine you’re a brand-new real estate agent. You’ve passed your test, you’ve found your brokerage and you’re ready to get down to the business of selling houses. Now answer this question: Should you spend the bulk of your time cultivating relationships with people already in your network, or should you try to cast as wide […]
We’ll add more market news briefs throughout the day. Check back to read the latest. Most recent market news Wednesday, May 24 Black Knight’s First Look at April 2017 Mortgage Data First-lien mortgage delinquencies rose by 13 percent, the largest monthly increase since November 2008 Month-over-month, the number of borrowers past due on mortgage payments […]
A real estate agent based in Reno told me today that she has clients who are so traumatized by the severity of the last crash that they will not buy now out of fear Reno is in another housing bubble. She asked for help putting together information that will help people see there is little risk of […]
In 2009, Netflix gave $1 million to BellKor’s Pragmatic Chaos technology team for building a better movie rating prediction algorithm (to the tune of 10.06 percent) than the one Netflix had been using. It appears that 2017 is the year Zillow follows in the media platform’s footsteps; the company just announced Zillow Prize, which will […]
A family of homebuilders is suing Zillow Group over the Zestimate. The suit, which is seeking class-action status, alleges that Zestimates are illegal appraisals and violate consumer protection laws by pressuring sellers seeking clarity on their home’s value to hire brokers, among other reasons. The attorney representing the family, Barbara Andersen, had sued Zillow Group over her […]
The March 2017 existing-home sales numbers from the National Association of Realtors (NAR) contained some hope that maybe (maybe!) inventory was about to normalize, with sales reaching their fastest seasonally adjusted annualized growth pace since February 2007. That hope was dashed with the release of NAR’s April numbers. Sales fell 2.3 percent from March’s rate, […]
Zillow Group is testing a new service that looks a lot like Opendoor. Sellers can use “Zillow Instant Offers” (Instant Offers) to get a bid on their property within 24 hours, and if they choose to accept it, close in as little as a week. But don’t confuse Instant Offers for an Opendoor clone. Here are […]
Today, Zillow launched a pilot program in two cities — Las Vegas and Orlando, Florida — called “Zillow Instant Offers,” with the promise that a home sale transaction can be completed in as little as a week. The new Zillow product allows prospective homesellers to receive all-cash offers from a hand-selected group of 15 large […]
Today portal giant Zillow launched its Instant Offers program in two test markets. The announcement will undoubtedly rattle the industry. To help you cut through the noise, here are 11 burning questions with our best take on answers. Add your own your ideas about the new program in the comments. How does it work? Zillow’s […]
Brian Boero’s company, 1000watt, represents large and small brokerages and tech companies that could be adversely affected by Zillow Instant Offers. Brian Boero Zillow’s launch of a homeselling service is a big deal. Here’s my initial reaction. A red line has been crossed “We sell ads, not houses.” Everyone in the real estate industry has […]
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