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No one wants to fall prey to scam artists. Better guidance from real estate agents would be a big help. After all, a staggering fifth of fraudulent money transfer requests pretend to be coming from real estate professionals.
So, why aren’t clients getting stronger warnings?
Continue reading “Say the F Word: Real Estate Agents Need to Warn Us About Fraud”
Sellers could soon be spending less to sell their homes. This month, after previously vowing to fight, the National Association of REALTORS® (NAR) gave in and made a major change, in order to release itself from lawsuits.
NAR and several brokerages were claimed to have colluded to keep agent commissions high. But soon, if a new settlement agreement goes through, there’ll be no more “agent commission” box in the listings at all. NAR also agreed to pay out $418 million in the settlement signed on March 15, but not yet filed with the court. The New York Times first got a copy of the document.
Assuming the court approves the settlement agreement, how will things change for anyone involved in a home sale?
Let’s unpack this story, Q&A-style.
Continue reading “Legal Update: NAR’s Ready to Settle Its Lawsuit. Here’s What Home Sellers and Buyers Stand to Gain.”
Many of today’s buyers want condos. They’re compact and low-maintenance. Condos are cheaper, typically, than standalone homes. Still, it’s entirely possible to make a costly mistake by missing condo warning signs.
Sometimes, a real estate agent notices things the buyer won’t. A good agent becomes that extra pair of eyes, extra ears and nose…
Alert real estate agents save buyers money in the long run. Know what they look for. You’ll be better prepared to protect your best interests — long after the deed is yours.
Continue reading “Condo Shopping: Does My Agent Warn Me About HOA Red Flags?”
Real estate sites use AI to offer cutting-edge listing searches. And lenders use artificial intelligence when sizing up an applicant’s financial strength. Tech-focused online lenders employ AI to help them approve or reject loan applications right away. Additionally, AI can automate various business tasks, thereby reducing the risk of fraud.
But can AI manage a real estate deal? Not exactly. You can already use ChatGPT-enabled chatbots to review the public data on markets, specific homes and tours, and mortgage rates. But AI is a tool for real people — not a replacement for them.
Continue reading “Can We Use AI Instead of Real Estate Agents Yet?”
“A glut of mediocre Realtors is screwing over homebuyers,” says Entrepreneur.com. Is that just clickbait, or a serious remark?
And hey! If we didn’t have agents, what exactly would home buying look like?
Continue reading “Did They Really Just Say That?”
It’s a steadily growing trend in real estate: the demand for pet-friendly homes. It impacts the way we create, furnish, and market homes.
Let’s explore how this phenomenon is evolving. Then we’ll look at what matters most from the perspective of a buyer, a seller, or a real estate agent.
Continue reading “How Today’s Demand for Pet-Friendly Homes Impacts Buyers, Sellers, and Agents”