The legal woes continue for the National Association of Realtors (NAR). On Wednesday, Maurice Muhammad — the broker of Progressive Realty — filed a complaint in U.S. District Court in Pennsylvania claiming that NAR, the Pennsylvania Association of Realtors (PAR) and the Greater Lehigh Valley MLS (GLVMLS) have violated federal civil rights statutes, engaged in unlawful discriminatory practices, breached their contracts, created a monopolistic system and broken federal antitrust laws.“These practices disproportionately affect minority professionals and have resulted in inequitable enforcement of rules and exclusion from fair competition in the real estate industry,” the complaint states.Muhammad claims that the three defendants have “engaged in a pattern of discriminatory practices against minority real estate professionals.” These practices have allegedly included “selective enforcement of professional rules, inequitable application of disciplinary measures, and the exclusion of minority professionals from leadership positions.”The complaint cites a report by the Community Legal Services of Lehigh Valley, which found that minority members of NAR have been subjected to unequal enforcement of ethical standards. Additionally, the report said that the leadership structures of the three organizations are “overwhelmingly non-diverse, leading to policies and decisions that fail to protect minority members or address their specific needs within the profession.” It adds that the plaintiff has been personally subjected to discriminatory treatment by the defendants.Additionally, the suit claims that NAR’s membership structure — which requires agents to join NAR in order to gain access to a Realtor-affiliated MLS — violate federal antitrust laws.“The forced membership requirement imposed by NAR, PAR, and GLVMLS creates a coercive environment that disproportionately affects minority professionals who lack the financial resources to afford mandatory membership fees,” the complaint states. “Defendants have used their monopoly over MLS services to prevent the creation of alternative trade organizations, thereby stifling competition and reinforcing their control over the real estate profession.”This is not the first suit to take aim at the relationships between Realtor associations and MLSs. The Hardy suit, filed in August by a group of brokers in Michigan, alleges that the requirement for all Realtors and brokers in Michigan to be members of NAR, their state Realtor association and a local board of Realtors represents an antitrust violation.Muhammad also claims that the lack of diversity in leadership positions at Realtor associations has resulted “in policies and rules that do not address the unique challenges faced by minority professionals.”“Despite repeated attempts by Plaintiff and other minority members to raise concerns about these issues, their grievances have been consistently ignored by Defendants, perpetuating a system of exclusion and discrimination,” the complaint states.The defendants did not return HousingWire‘s requests for comment.

An effort seeking a partial summary judgment in a case brought by Texas Capital Bank (TCB) against Ginnie Mae over reverse mortgage-related collateral has been denied by presiding Judge Matthew Kacsmaryk, according to a court filing reviewed by HousingWire’s Reverse Mortgage Daily (RMD).TCB sought summary judgment in a court filing this past summer, which would have allowed the presiding judge to decide part of the case prior to a trial. TCB sought this outcome in the first count of its original court complaint, which alleges that Ginnie Mae violated the Administrative Procedures Act (APA) by extinguishing its first-priority liens over certain reverse mortgage collateral.Kacsmaryk found the argument unconvincing, according to a court filing that denied TCB’s request.In its initial complaint, TCB alleged that Ginnie Mae had “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.”This occurred when Ginnie Mae eliminated bankrupt lender Reverse Mortgage Funding (RMF) from its HECM-backed Securities (HMBS) program and assumed control of the former lender’s servicing portfolio in December 2022.Ginnie Mae “was within its rights to extinguish and terminate RMF and take absolute ownership of [the] mortgage portfolio,” Kacsmaryk said in the filing. Instead, Ginnie Mae chose to seek an alternative resolution that would not require assumption of the distressed lender’s portfolio, but RMF was unable to find another lender to assume the portfolio. Ginnie then Mae extinguished the interest of TCB in reverse mortgage “tails,” or extra amounts that can be added to a HECM loan after its initial securitization when it acted to assume control of the portfolio itself.“GNMA and TCB signed no contract explicitly acknowledging GNMA’s rights in the tails,” the judge wrote, later adding that “a contract providing for the power to extinguish did exist. The contract that satisfies the statute is the Guaranty Agreement between RMF and GNMA. GNMA never claims to have directly extinguished TCB’s rights. Instead, GNMA extinguished RMF’s rights — some of which RMF granted to TCB. TCB’s interests in the tails derive only from RMF.”He added that TCB “fully understood” that Ginnie Mae could extinguish its interest in the tails, which he added fulfills the requirements of the APA as laid out by Congress.“TCB retains its other claims for relief,” the judge said. “But summary judgment is not appropriate on its APA claim against GNMA because TCB has not demonstrated it is entitled to judgment as a matter of law.”A timeline of 2025 has been narrowed down in recent weeks, with a magistrate judge recently ruling that the parties should be ready for a trial by September 2025.

The controversial Clear Cooperation Policy from the National Association of Realtors continues to spark debate — for several reasons — among real estate professionals. (Image generated by AI in Midjourney)With the Aug. 17 implementation deadline for the business practice changes outlined in National Association of Realtors’ commission lawsuit settlement agreement in the rearview mirror, the real estate industry has turned its focus to a new point of contention — NAR’s Clear Cooperation Policy (CCP).As part of NAR’s mandatory MLS policies, Clear Cooperation requires brokers to list properties on an MLS within one day of publicly marketing the listing. But while the debate surrounding CCP has only begun to boil over in the past six weeks, the policy in its current form dates back to 2020 — and the intention at the heart of it goes back even further.Saul Klein, the CEO of San Diego MLS, began his career in the real estate industry in the 1970s.“I started selling real estate in 1975 and we had a rule called ‘Mandatory Submission,’ and it required us to submit listings to the MLS,” Klein said. “This rule isn’t new; it has been around for over half a century.”Prior to the implementation of the current CCP in May 2020, listing brokers had two business days from the signing of the listing contract to either enter the listing into the MLS as “active” or submit a listing exclusion form, which had to be authorized by the seller, to the MLS. Under CCP, listing brokers have two days from the signing of the listing contract to input the listing in the MLS as “registered,” “coming soon” or “active.” Additionally, within one business day of marketing the property, the listing broker must ensure that the listing’s status in the MLS is either “coming soon” or “active.” But if the property is not marketed publicly, it does not need to be listed as “coming soon” or “active.” This is known as the policy’s Office Exclusive exception.Despite the rule’s long history, real estate executives have been taking strong stances on the policy in recent weeks. On one side are brokerage leaders like The Agency founder Mauricio Umansky, who are firmly against CCP.“I think that it’s anti-competitive and anti-freedom of choice, which is what our entire country is built on,” Umansky said. “I believe that a homeowner should have the choice, with full disclosure and full understanding of what they’re doing, of how they choose to market and sell their home. That should not be dictated by an association. It’s not a one size fits all.”’Fooling themselves’While some in the real estate industry find the argument of increased seller choice compelling, others are not buying it.“When listing a house, you have two main goals. One is to maximize price and two is to minimize the time a home spends on the market,” Zillow President Susan Daimler said. “The data shows us that maximum exposure achieves those two goals. The more homebuyers and agents that are exposed to your listing, the faster it sells and the higher price you get.“Klein’s take is even more blunt.“What seller in their right mind would not want maximum exposure of their listing?” he asked. “There are of course certain people who might want their listing withheld from the MLS, but that is rare.”Supporting these assertions is a 2023 study from Bright MLS and Drexel University. It found that sellers who withhold their listings from the MLS can potentially lose up to $50,000, with homes listed on the MLS selling for an average of 17.5% more than their off-MLS counterparts.“Any brokerage firms today that say they want to give the seller more choice, they are fooling themselves that they have their own agenda. Because if the sellers really are informed, understand the circumstance, understand the consequences of not listing on the MLS, then I think most wouldn’t choose to not list on the MLS,” Klein said.James Dwiggins, the CEO of NextHome, also doesn’t buy the narrative of seller choice. He agrees with Klein that brokerage motivations for ending CCP are self-serving. And brokerages, he said, will be at “massive disdvantage” if the policy goes away as larger firms will “hoard listings internally,” he wrote wrote in a LinkedIn post.While Leo Pareja, the CEO of eXp Realty, doesn’t feel the rule is perfect, he does like the fairness and transparency it creates. This is something he has gained even more appreciation for while helming a brokerage that operates in 20-plus countries.“In other countries, our consumers and agents have to go to eight or 10 sites to get a clear picture of what the inventory is,” Pareja said. “As I understand it, some of the folks on the other side of the argument want to be able to post some of their properties to their private website and if they don’t sell then, they’d put them on the MLS, but that isn’t how cooperation works. “MLSs are data cooperatives and if you want to taketh then you must giveth. So, with that as our national framework, that sets the rules of engagement, which to me are paramount to the cohesiveness and totality of the dataset. If you participate, you have to participate — you can’t optionally participate.”Pandora’s boxMany proponents of CCP also believe that repealing the rule would create more opportunities for potential fair housing violations. As Dwiggins sees it, in a world without CCP, buyers would need to search many brokerage websites to find every for-sale listing, “and may still not have access to or know about them.”“Statistically, if any one group of people control something unique, by definition it is going to exclude another group,” Pareja added. “So, it could first-time homebuyers not getting access to affordable housing options that is being gobbled up by investors through a brokerage’s private network or something else.”In a 2017 research paper published by Sage Journals, a peer-reviewed academic journal, the authors found that buyers most likely to lose access to pocket listings are people of color, which would be bad news in the world of fair housing.More recently, Lisa Rice, the president of the National Fair Housing Alliance, told USA Today that “fair housing groups have been fighting pocket listings for decades and decades.”“Discrimination is not logical. We need a fully transparent system for all houses on the market, that all real estate agents can see what’s available and what’s on the market,” Rice added.But fair housing concerns aren’t the only worries for industry leaders when it comes to the potential repeal of CCP.“If 5% or 10% of the data isn’t on the MLS, where is an appraiser supposed to go to get that information? And what about the banks that underwrite and finance — how are they supposed to get comfortable around the value of a property?” Pareja postulated.Daimler wonders how a move to a market solely populated by private listing networks would impact new brokerages that want to gain entrance. In her view, if all listings are held by only a handful of firms, it would make it very difficult for a new agent or brokerage to find a property for a buyer, or to earn the business of a seller due to their lack of an internal network for advertising.“It really disadvantages new entrants to the market — different brokerage models and different agent models, which we want to see more of,” Daimler said. “We want to see more innovation, and to me, that was the whole point of the commissions lawsuits and the settlements.”Reform, not repealAs the industry looks to move past this debate, some leaders believe a reform of CCP is the best option to move forward. Anywhere, which is publicly opposed to CCP, spoke out during a recent forum to clarify its position.“We have written and presented to NAR to call for a reform of the rule rather than repeal,” said Caitlin McCrory, Anywhere’s vice president of industry relations. She added that the firm’s stance on the rule is based on the principals of consumer choice and equitable access to listings.“We want to advocate for a policy that accommodates various seller directives, and we also believe in a policy that supports the agent-consumer relationship rather than potentially interfering with it,” she said. “We’ve contemplated alternatives, like relaxing the restrictive one-day rule for marketing a property on the MLS, affording exceptions for certain properties or scenarios, or offering additional ways to preserve seller privacy in the process. We think the industry should be having thoughtful discussions on these alternatives.”HomeServices of America, which also has a national footprint, is taking a measured approach to its stance on CCP. Executive vice president Chris Kelly wrote in an email that the recent upheaval in the real estate industry has made it an “opportune time” to evaluate CCP and “assess whether it has effectively advanced the goal of increasing transparency for consumers, while also respecting a seller’s ability to make personal choices regarding the marketing of their property.” But HomeServices also believes that a “thorough examination of the data” is needed before any decisions are made.It is unclear which path NAR will take, as the trade group has stayed silent on the issue. In the meantime, the debate marches on.

Despite the Florida hurricanes, and in the face of recently rising mortgage rates, unsold inventory of homes on the market climbed this week by about 1%. We’ve been expecting inventory to climb, and to tick up again next week before seasonal inventory declines start in November. The seasonal changes in the housing market are very different from what they used to be with inventory peaking two or three months later in the year.If you’ve been paying attention, you know that the housing supply isn’t just the unsold inventory, it’s also a factor of new listings volume each week. Supply is how many homeowners want to sell, not just how many homes are available to buy. The signal that we watch for in the new listings count is whether there are too many sellers. All the bearish scenarios for home prices require more sellers each week. So far, in the post-pandemic years, we haven’t had a lot of sellers. Homeowners are staying put. That’s true nationally, but here’s what we wanted to learn this week: Are there any local markets where sellers are rushing to the exits? We know that inventory is up in Phoenix and Dallas, but can we measure the investors who are panic selling or the homebuilders dumping inventory to get out? Let’s take a look at the data here in the middle of October 2024.Inventory expandedAvailable inventory of unsold homes on the market expanded across the country this week by about 1%, or 7,000 single-family homes. That’s a healthy increase. Last year, inventory rose by 1.5% in the same mid-October week, now the pace is 1% gains. There are 33% more homes on the market than a year ago. But, because inventory was rising so quickly in the fourth quarter last year, that gap is down from 40% increases in September. That’s why we’ve been tracking this change each week. Last year in the fourth quarter, buyers were running for the exits. It’s a very different market now. Every time mortgage rates rise, homebuyers have shown they’re willing to wait for conditions to return to their favor. Interestingly, inventory is now only 21% fewer than in 2019. We use 2019 as a bit of an arbitrary baseline, because that was the last pre-pandemic year. In the fourth quarter of 2019, inventory was falling quickly. Mortgage rates had peaked and homebuying conditions were improving. New listings upThere were just over 60,000 new listings unsold this week. That’s just 6% more than a year ago.There were another 10,000 new listings with immediate sales, so overall that was 70,000 sellers this week, which is just 4% more sellers than a year ago. There are more sellers nationally, but just a little bit more. There are no signs in the national numbers of homeowners running for the exits. Last year, there were fewer sellers each week but demand was also weaker, so the unsold inventory was piling up faster. The important thing to watch for with the new listings is when we transition from this era of very few sellers to one with a more historically normal level of sellers. There are 60,000 to 70,000 new listings each week now, when in the pre-pandemic times there would have been 80,000 sellers per week. There is no evidence of seller supply increasing significantly. The trend has been slow incremental growth all year. There’s no sign of that trend changing. New listings per metroBut I was curious. Are there any local markets where we can see homeowners, or investors, or builders running for the exits? Austin has more inventory sitting on the market now than any time in the past decade. Is that inventory surging from sellers flooding the market? In fact, no. It turns out that Austin has 3% fewer new listings each week now than in 2019. A big shift in homebuyer demand drove Austin’s inventory up over the last two years, but because there still aren’t that many sellers, Austin’s inventory does not appear poised to grow much from here. What about Tampa or Sarasota? Are sellers unloading after the hurricanes? It turns out, no, the opposite is happening. There are fewer sellers than normal, which makes sense given the devastation, but it is worth checking the data to verify. Maybe next year is the time for more sellers in Florida, but not yet. Of the 100 biggest inventory metros around the country, 76% have fewer new listings each week now than they did in 2019. There are only a couple markets that stand out with a lot more sellers each week now — Spartanburg, South Carolina; McAllen, Texas, and maybe Huntsville, Alabama. Spartanburg has 53% more sellers now than in 2019. McAllen has 44% more, and Huntsville 29% more. All three of these are investor- and builder-heavy markets. They’re all small towns. Maybe there’s a nexus of builders, investors and slowed migration patterns in 2024 that led to that buildup?The takeaway on the local new listings data is that most of the country is poised to have inventory decline if mortgage rates fall and stimulate demand. There are almost none with any signs of seller-led supply.Pending home sales upThere were 60,000 single-family homes which took offers and went into contract this week across the country. That’s 9% more than last year and in fact 11% more sales contracts started than the same week in October 2022. Overall, there are 358,000 single-family homes in contract. That’s 10% more than last year and 2% more than the same week in October 2022. This is the first time in two years that there are more homes in contract. Again, this is not really about growth in home sales, just a tiny bit of growth. Rather, because the fourth quarters of 2022 and 2023 were so weak, the comparison is easy. We’re just very slowly adjusting to this new normal of higher mortgage rates. The current pending sales got a boost from lower mortgage rates last month, but those mortgage gains are gone now. This progress is just good enough to show some year-over-year gains and it may be fleeting. Though I expect in the fourth quarter you’ll see some headlines that say home sales are up over last year. The traditional data will start to pick up this transition.These gains could be fleeting. Homebuyers are not afraid to walk away when money gets more expensive. Also, a lot of the big Florida markets are at a standstill and those are big enough to move the national numbers. While the recent trends are a little positive, the last few weeks have reversed any home sales momentum that might have been started.Home prices unchangedHome prices are largely unchanged this week. The median price of single-family homes going into contract was $389,000 again this week. Prices continue to hold up better than I expected early in the year and are about 5% greater than last year at this time. The median price of all the homes in the U.S. right now is $439,900. That’s also unchanged from last week and is just 1% more than a year ago. Asking prices are 1% higher than a year ago, the contract prices are 5% above that same period. You can see the range for the year’s home price gains 1-5%, depending on how you measure home prices.It’s wild how quickly the sentiment can change in a week. We thought we were at a transition point to get some home sales growth, and suddenly we had big mortgage rate spikes. We know that buyers can put the brakes on very quickly. As some point we may see sellers in some local markets getting antsy. Mike Simonsen is the founder of Altos Research.

Since 2019, the state of Florida has built more than 77,000 new properties in areas with a high risk of flooding. This is the most among all states, according to an analysis by climate-modeling firm First Street Foundation on behalf of the The Wall Street Journal.The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said. According to Morningstar DBRS, the cost of recovery from hurricanes Helene and Milton — storms that battered the Southeast in recent weeks — is expected to be between $40 billion and $75 billion. Homes built in high-risk flood zones contribute significantly to the total.“Big payouts from natural disasters are driving insurers to raise rates and pull back on coverage,” the report stated. “Nationally, 290,000 new properties were built in high-risk flood areas from 2019 through 2023, almost one in five of the 1.6 million built in total in that period, the First Street analysis found.”The construction figure in Florida far exceeds the next most prominent states. These include Texas (63,000 properties built in high-risk flood areas since 2019), California (21,000) and North Carolina (11,000).Robert Gordon, a senior vice president at the American Property Casualty Insurance Association, told the Journal that mortgage lenders need to be more involved in these processes.“The lenders […] are really in the best position to make sure there’s the right consideration of the long-term risk,” Gordon said. “A lot of times that’s not happening right now.”Climate change is having a pronounced impact on the housing market, particularly when it comes to the accelerating risks of extreme weather events in areas that were already vulnerable to impact. Developers continue to build in these areas with few obvious signs of slowing, the story said. “La Linda Estates is made up of 13 homes on Siesta Key near Sarasota, located steps from the Gulf of Mexico,” the report said. “They sell for just under $3 million. Listings say they are at high risk of flooding and wind damage, as well as high heat. The area was still cleaning up from Helene when Milton hit.”A real estate agent overseeing the listings told the Journal that the properties suffered no major damage from recent storms, while the property developer told the outlet that “the homes have a concrete structure and conform to Florida’s design code.”A report in August from Redfin showed that 2023 migration patterns weren’t interrupted by climate change. Instead, relocation trends appear to be driven by other factors unrelated to extreme weather risk.But the dynamics are evolving, and the fallout from storms like Helene and Milton are playing havoc with the intersection between mortgage and insurance.The challenges that higher costs place on carriers, regulators, lenders and consumers has been well documented this year. The acceleration of extreme weather events has only made things worse.

The remaining defendants in Homie Technologies’ antitrust suit are seeking to have the case dismissed. On Friday, the National Association of Realtors (NAR), Anywhere Real Estate, Keller Williams Realty, HomeServices of America and RE/MAX filed motions to dismiss the suit, which was originally filed in mid-August in U.S. District Court in Utah.In the suit, Homie claims it was harmed by the anticompetitive practices of NAR and the brokerage defendants. It said it filed the suit to “recover the damages … suffered as an excluded competitor foreclosed by the Defendants’ conduct from effective competition in the relevant market.”As a flat-fee brokerage, Homie charged sellers a flat fee to list their property on the MLS. While Homie sellers typically offered buyer agent compensation, the firm said these amounts were usually lower compared to offers by sellers working with traditional brokers. Due to this, Homie alleges that local brokers and agents boycotted Homie and its listings, contributing to some of its financial distress.All five of the remaining defendants made similar claims in their motions. These include that the jurisdiction for the suit is incorrect, since none of them are based in or have employees in Utah, and that the claims made in the complaint are not new.In its motion, Keller Williams claimed that Homie is trying to “piggyback on antitrust lawsuits previously brought against Keller Williams by home sellers and buyers.”Similarly, in a joint motion, RE/MAX and Anywhere wrote that Homie is seeking to “ride the coattails of other antitrust cases brought by consumers of real estate brokerage services.” But the defendants note that unlike the consumer-driven suits, Homie did not purchase brokerage services from any of the defendants.“If Homie’s allegations in its Complaint are credited, and the NAR Rules did increase the price of brokerage services, then home sellers (the consumers of brokerage services) might be harmed but real estate brokerages (the providers of the services) would be helped because the brokerages would either make more money or take market share by charging less. And Homie is a broker! As a seller of brokerage services, not a consumer of them, it would be helped by higher prices,” the motion states.RE/MAX and Anywhere claim that in becoming the fifth-largest brokerage in Utah, Homie was in fact helped by NAR rules and not hurt by them, as the firm alleges in its complaint.According to NAR’s filing, in Homie’s factual allegations, instead of showing that Homie was injured, the firm showed that it “stood to benefit from the higher prices caused by the alleged conspiracy; overcame any barriers to entry caused by the alleged conspiracy; or was harmed by something other than Defendants’ actions.”The defendants also addressed the allegations of a boycott. According to RE/MAX and Anywhere, Homie’s claim of a boycott should fail because “the existence of the alleged conspiracy is implausible.” They also say the complaint lacks any allegations of how the firms “organized, joined, directed, or participated in a boycott of Homie.”“The only non-conclusory allegations addressing Anywhere or [RE/MAX] are that independent real estate agents associated with their respective brands participated in NAR and MLS-related boards involved in rulemaking,” the motion states. “But the alleged group boycott is separate from the NAR Rules — there isn’t a Rule saying ‘boycott Homie.’ Although Homie alleges the NAR Rules ‘facilitated’ the boycott, this conclusory allegation is contentless and does not support a claim.”In its motion, Keller Williams called out social media posts and text messages that Homie cites as evidence of a boycott. According to Keller Williams, the posts and messages included in the complaint are “plainly insufficient to plead that Keller Williams joined a boycott.”“Those social media posts and messages are not even alleged to have been made by Keller Williams or its affiliates. Instead, Homie alleges they were made by unidentified real estate agents working at ‘[l]ocal NAR members’ in Utah,” the filing states.Keller Williams claims that the messages and posts are not indicative of a conspiracy. It noted U.S. Supreme Court precedent that boycotts cannot be defined as “concerted refusal[s] to engage in particular transactions until the terms of those transactions are agreeable.”The defendants also claim that the allegations are “stale,” as HomeServices of America put it, as the NAR rules at the center of the suit were enacted more than four years before Homie filed its complaint.“To the extent those rules caused Plaintiff any harm, that harm was necessarily suffered as soon as Plaintiff entered the market in 2015,” HomeServices’ filing states. “Thus, the statutes of limitations have run, and Plaintiff’s claims must be dismissed.”Last week, Homie notified the court that it had voluntarily dismissed Wasatch Front Regional MLS, which does business as UtahRealEstate.com, from the suit. But the MLS defendant was dismissed without prejudice, which means Homie could refile the case.

Mutual of Omaha Mortgage has been given more time to respond to allegations against it in a case that accuses the lender of operating manipulative websites that skew reverse mortgage reviews in its favor.The suit, brought by reverse mortgage competitor Longbridge Financial, alleges that Mutual of Omaha operates a series of websites that are both deceptive and purportedly in violation of the Real Estate Settlement Procedures Act (RESPA) as well as guidance from the Federal Trade Commission (FTC). This is according to court filings reviewed by HousingWire’s Reverse Mortgage Daily (RMD).Attorneys for Mutual of Omaha told the court that they require additional time to thoroughly respond to the allegations laid out in the original complaint. The companies’ legal teams communicated with each other prior to the requested delay and Longbridge did not object, according to a court filing.“There is good cause to grant this motion,” Mutual of Omaha’s legal team said in the initial filing. “Counsel needs additional time to investigate [Longbridge]’s allegations with [Mutual of Omaha]. [Longbridge]’s complaint — which is almost forty pages long — contains complex factual allegations and asserts claims against entities operating within a highly regulated industry.”The case is also “in its infancy” with minimal scheduling obligations, the attorneys noted. The chief judge of the court, Dana M. Sabraw, found that good cause was shown to grant the request and extended the deadline to Dec. 17.The suit was filed in the U.S. District Court for the Southern District of California. Longbridge is seeking a jury trial and an injunction that would require Mutual of Omaha to take down the allegedly deceptive websites. It also seeks restitutionary, compensatory and punitive damages that would be determined in court.Alongside Mutual of Omaha, Longbridge is filing suit against two other companies —California-based Review Counsel LLC and Delaware-based Advisory Institute LLC. Both entities are either owned or controlled by Mutual of Omaha, but their respective websites feature ratings of reverse mortgage lenders that Longbridge says suggests independence to readers.But this independence is not actually present, Longbridge alleges. Instead, the websites present skewed information that favors the portrayal of Mutual of Omaha. One of the websites is also operated under the former name of its reverse lending arm, Retirement Funding Solutions (RFS).During the reporting of the original complaint, Longbridge and Mutual of Omaha declined to comment on the matter to RMD.

In a housing market shaped by uncertainty, military veterans and service members are emerging as some of the most confident and prepared homebuyers, outpacing their civilian counterparts.That’s according to a recent index released by Veterans United Home Loans to measure the financial health and optimism of veterans, active-duty service members and civilians in terms of home purchase timelines and motivating factors, personal finance and their outlook for the U.S. economy. In the third quarter, a survey of about 900 prospective buyers produced an index reading of 67, the highest score since the release of the index in early 2023. This was driven by optimism about the housing market and economy. Veterans led the way as 74% of these respondents plan to buy a home in the next year, compared to 69% of civilians. This marks a shift from last year when civilians were more bullish. Chris Birk, vice president of mortgage insight for Veterans United, attributed this confidence to stabilized levels of inflation.“This growing confidence in the economy is translating directly into the housing market in communities across the country,” Birk said in a statement. ”With inflation showing signs of easing and more consumers believing mortgage rates will stabilize or even decrease, we’re seeing a significant boost in home buying readiness.”The inflation rate reduction that Birk mentions led to the Federal Reserve’s recent move to cut benchmark interest rates by 50 basis points, the first cut since March 2020. Birk also noted that the boost in optimism could spur more demand in the coming months, especially among veterans.  But even with lower mortgage rates, some potential buyers are hesitant to shift their timelines. Veterans and service members who are actively preparing for homeownership — meaning they plan to buy in the next three years — scored higher on the index at 69 points on the index, while civilians trailed behind at 55 points. This growing optimism among veterans is not just reflected in their homebuying plans. It also shows up in their personal finances. Despite higher interest rates and rising home prices, 48% of veterans and service members expressed comfort about their finances — slightly higher than the 47% of civilian respondents.All respondents in the third quarter were somewhat optimistic about the future of the economy, with particular optimism on mortgage rates. But with mortgage rates climbing back above 6.5% following a slow and steady decline, only time will tell if their confidence rings true. 

We have had three weeks of positive year-over-year growth in both purchase application data and weekly pending contract data, with last week showing a noticeable jump from last year. Now the dose of reality: last year at this time mortgage rates were heading toward 8%, and even though 2023 showed record low sales levels, it got worse with 8% rates. So, context is critical with housing data, especially in October. Let’s look at this week’s numbers.Weekly pending salesBelow is the Altos Research weekly pending contract data to show real-time demand. This data line is very seasonal, as we can see in the chart below, and we remember how high mortgage rates were at this time last year. We are now showing growth versus 2023 and 2022 data in this data line, but context is key. 2022 sales had the fastest crash ever and 2023 home sales were at record low levels, so take the growth in context with those two truths. This is the weekly pending sales for last week over the previous few years: 2024: 357,6752023: 324,6752022: 343,942Purchase application dataThe winning streak of purchase application data just ended as mortgage rates shot up higher. Before rates rose, we had six straight weeks of positive data and then one flat week. Last week, purchase apps were down 7% week to week, still showing year-over-year growth, but we can see the impact of higher rates in this week’s data.When mortgage rates were running higher earlier in the year (between 6.75%-7.50%), this is what the purchase application data looked like:14 negative prints2 flat prints2 positive printsHere’s purchase app data since mortgage rates started fallling in mid-June: 12 positive prints 6 negative prints1 flat3 straight positive year-over-year growth printsWe will track this data to see the damage done by rates moving higher recently. History has shown us that when rates move higher, it shuts down the demand data growth.10-year yield and mortgage ratesMy 2024 forecast included:A range for mortgage rates between 7.25%-5.75%A range for the 10-year yield between 4.25%-3.21%I forecast channel ranges with mortgage rates and the 10-year yield because we can all follow the economic data that matters together and look for crucial inflection points with rates. This is the slow dance between the 10-year yield and 30-year mortgage rates I often discuss. I have a crucial line in the sand for the 10-year yield around 3.80%. We need weaker economic data to go below this or even lower. We got that when the jobs week data showed a softer labor market, but a lot of recent data lines have beaten expectations. I explained this in detail in this HousingWire Daily podcast.With the recent economic data such as retail sales and jobless claims being positive, we ended last week with the 10-year yield at 4.08%.Mortgage spreadsThe mortgage spread story has been positive in 2024, whereas it was negative in 2023. We have seen a big move already this year; mortgage rates would have been much higher today without the spreads improving. Unfortunately, with the recent spike in mortgage rates, the spreads have gotten slightly worse. Still, if I took the worse spreads from last year, mortgage rates would be 0.72% higher today. If mortgage spreads were back to normal levels, you would see mortgage rates lower by 0.71% – 0.81%.Weekly housing inventory dataFive weeks ago, we had the best week of inventory growth in 2024 as we hit my model range even without higher mortgage rates. Two weeks ago, inventory growth went slightly negative, with some impact due to the hurricanes on the East Coast. Last week, we had some inventory growth of 7,024 homes. While this isn’t in my inventory growth model of 11,000-17,000 with higher rates, it was a good week for active inventory growth. Weekly inventory change (Oct 11-Oct. 18): Inventory rose from 732,410 to 739,434The same week last year (Oct. 12-Oct. 19): Inventory rose from 546,450 to 554,350The all-time inventory bottom was in 2022 at 240,497The yearly inventory peak for 2024 is 739,434For some context, active listings for this week in 2015 were 1,171,775New listings dataNew listings data has been another positive story in 2024, as we needed more sellers! I didn’t hit my minimum target of 80,000 during the seasonal peak months — I was off by 5,000 — but I see it as a win because even though 2024 was the second-lowest new listings data year ever, it did bounce from 2023, which was the lowest level ever. 2024: 60,3612023: 56,7722022: 57,762Price-cut percentageIn an average year, one-third of all homes take a price cut — this is standard housing activity. Rising mortgage rates last year and this year have created a growing number of price cuts, especially with inventory rising. When mortgage rates fell recently, the price-cut percentage cooled down. A few months ago, on the HousingWire Daily podcast, I said price-growth data would cool down in the year’s second half. The price-cut percentage data is below 2022 levels and risks an earlier seasonal curve lower than 2022 and 2023. We need to see if higher mortgage rates change this data line before we see the seasonal downtrend in inventory. I have to say I am a bit surprised at how well pricing has held up in our weekly data recently. Here are the price-cut percentages for last week over the previous few years:2024: 39.5%2023: 38%2022: 43%The week ahead: Fed speeches and home sales data This week, we will have more speeches by Fed presidents, plus existing home and new home sales data. Remember that the recent housing starts data and this week’s existing and new home sales reports won’t account for recent higher mortgage rates. This is why we focus on our weekly housing data, which shows that higher mortgage rates already zapped the purchase application data. I discussed this on CNBC on Friday, saying that we don’t need 3% or 4% mortgage rates to grow sales from these depressed levels, but we do need rates to get to 6% and stay there. 

Important Note* Check your local forms for options around discussing buyer agency with visiting prospects. Follow your local MLS and broker rules and regulations and master how to speak to the prospects about their options.Open houses are still a fundamental pillar of the business. NAR reports that 53% of home buyers visit open houses. So more than half of the buyers out there shopping, at some point in their search, will be visiting open houses.Here are some reasons open houses are valuable:It gives you a chance to meet neighbors and to turn each listing into another great listing. I would suggest that you door knock at least 50 doors around the open house, dropping off an open house invitation. If you prefer, you can circle, prospect, call and invite the neighbors. If you have a little runway of time before the launch, you could certainly mail an invitation. A good portion of the neighbors won’t come unless they’re invited. It feels awkward that they’re going into their neighbor’s home when they’re not actually looking to buy. Make it easy, invite them.Potentially sell the house to a buyer who visits.Pick up prospects who are not committed to an agent. Open houses are an opportunity to not just meet a great buyer, but to hopefully find another great seller.Your goal should be to leave the open house with as many quality names and as much contact information as possible. You are there to, to meet, to greet, to gather that information, and then to follow up post open house. Your open house objective is to set 1-2 appointments with the hottest prospects during the open house.You may wonder, can weekdays be a good time to hold an open house? The answer is yes, weekdays can be good too. You want to be strategic about your hours. The traffic is not always going to be great, however there are no prospects at your desk. You can take your work along. It’s like your mobile office and you never know when you’ll meet a prospect. Moderate open house traffic can allow you more time to engage with each prospect.Your open house warm up: As you are getting ready for open house, warm up by previewing homes in the area. Study recent sold data. Learn any important details about the schools or community. Study and practice your scripts and your questions. Remember, with all our new rules around real estate, you can only give the information that’s appropriate based on the relationship with that prospect.Pre marketing game plan: Below are some ways to market before the open house.Digital platforms: Facebook, Instagram, etc.Marketing via door knocking, direct mail, or calling the neighbors to invite a minimum of 100 people. Set a minimum standard of at least 25.Contacting leads and sphere who might have an interest in visiting .Direct mail to business owners within 1 mile, if appropriate.There is a saying in business, a predictable process creates a predictable result. Use the list below to create your open house go-kit. Open house go-kitSigns and signage strategy Sign-in sheet/electronic processBrochures/electronic brochure to offer to send themLocal market information and other promotional items on displayWater/snacks, if desiredBootiesMeasuring tapeScratch padsBasic cleaning suppliesNow it is go-time. Dress a little more professional than your prospects. Remember, they are going to judge you in those first few seconds of the open house.  Show up with energy and always arrive early because the seller is anxious. Make sure valuables are put away. Turn on the lights and straighten up in needed. Get your materials and sign-in area set up. Stay in work-mode even when you are not engaging with prospects. Eliminate distractions—you have one chance to make a great impression.You will want to decide where you will stand as you greet and engage with each prospect. Treat every guest with courtesy and as if they could be a potential buyer. Be mindful of what you say and do, there may be cameras, or they may be a friend of the seller. Be friendly and engaging and give them a little space. Not everyone wants to shake your hand, so let them lead. Tell them to, “Make yourselves at home.” Ask them to sign in and explain why it’s necessary. You should have your menu of questions to practice to engage the customer. Menu of questions:“I’m curious, how did you find the open house today?”“Have you seen many homes in the area?”“I find that most visitors are coming to the open house because they live in the area and want to check the value of their own home, or they are looking to purchase. May I ask which one applies to you?”If they say they have an agent and don’t register on the sign-in sheet, ask them if they have a signed agreement and who their agent is. “I’m curious, how long have you been looking for a home?”“Have you seen anything exciting or made offers on anything so far?”“What is your ideal time frame to be moving into your next home?”“What’s important about that time frame?”“Where do you live now?”“Will you need to sell that home to purchase?”“Can you describe what your ideal home would look like? Maybe I know of something off-market I can share.”Start with gentle probing. As you build rapport, you can ask more pointed questions. If you have multiple people in the home, you can determine who will receive a bit more of your attention based on their answers.Engage, retreat as they are ready to exit, thank them for attending. If you have not yet captured their information, this is your last chance to do so! Ask them if they have any interest in making an offer on this home.The hook: “You know, I prospect daily and find sellers who are not ready to list on the open market. Occasionally, I come across a seller who is in default or anxious to sell. If something red hot comes up, would you like me to text you the address and information?”“Excellent, what is the best number to text you at?”“By the way, so that I only send the best matches to you, may I ask just a few more questions about your requirements?”Important: The priority is to be sure you have all of their information. Then, you can spend more time chatting. You never know when you will get interrupted!“I have an idea, what if we get together this week and I show you a few examples to help educate you on what is available. And then, I can learn more about what you are looking for?”“This information will help me hunt for some great options for you. How would Tuesday at 4:00 p.m. be?”“In order to show you homes at that time, we do need to sign an agreement to allow me to represent you and advise you on those homes. We can sign a simple agreement just for Tuesday. This will allow you to test drive my services, and if we want to see more properties together in the future, we can talk about next steps on Tuesday.”Shutting Down Your Open House. As you prepare to leave make sure to lock all windows and doors. Wipe down any surfaces and pick up trash.  Gather your materials and open house signs. Then you can call/text the seller or listing agent with results and feedback.A lot of agents will hold a great open house and then never follow up on their prospects. Don’t do that. You should have an open house follow-up plan for those on your list. Call them that evening to let them know you will be working hard to find new off- market opportunities for your visitors from the open house and ask if they would like to set an appointment. Consider making a video thanking them for visiting and send it to them the evening after the open house. Let them know you can hunt off-market opportunities for them. It’s a nice personal touch! At a minimum, text/email them, and call them first thing the following morning! Be sure to enter all conversation notes into your CRM and add them to auto-nurture campaigns. Even those who are not interested in doing anything soon should be added to your nurture campaigns. An MIT Study on leads showed that 50% of leads are never followed-up on. Most salespeople make 1-2 attempts and give up and that most leads convert between 6-12 attempts.Be relentless in your follow-up throughout the week: call, email, text, and repeat.Debbie De Grote is the CEO and Founder of Forward Coaching.This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.To contact the editor responsible for this piece: zeb@hwmedia.comDisclaimer: The information provided in this article does not, and is not intended to, constitute legal advice; instead, all information, content, and training are for general informational purposes only, and should not be considered a substitute for professional advice from a licensed real estate agent, broker, or attorney. Real estate laws and regulations vary by state and jurisdiction, and it’s essential to consult with qualified professionals familiar with your area’s specific rules and regulations. We make no representations or warranties regarding the information’s accuracy, completeness, or suitability. We also disclaim liability for any losses or damages from using this information. Moreover, negotiating real estate commissions and fees is a complex process, and the outcomes can vary depending on several factors, including market conditions, property type, and the individual negotiating skills of the parties involved. We do not guarantee specific results from our educational materials. Readers should contact their attorney to obtain advice with respect to any particular legal/regulatory matter.  No reader of this article should act or refrain from acting on the basis of information in this article without first seeking legal advice from counsel in the relevant jurisdiction.  Only your individual attorney can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. By viewing the content of this article, you acknowledge and agree to this disclaimer.

California-based Provident Funding Associates LLC is getting out of the Florida condo lending business, it told broker partners on Friday. In an email sent Friday morning, Provident said that it would “no longer be accepting new applications for condominiums” effective that day. Provident told broker partners that all loans in the pipeline must be locked by 11:59 p.m. PST on Oct. 31 or they’ll be declined. Additionally, all loans currently locked must be funded by the lock expiration date.“We look forward to continuing to bring our partners our aggressive price and fast turn times for all other products we offer,” the company said in the email, which was reviewed by HousingWire. Messages left with Provident were not immediately returned on Friday.Provident, run by the Pica family, is known in the industry for its conservative approach and sports a better-than-average delinquency rate in its servicing portfolio, so it’s perhaps not a huge surprise it would exit such a choppy space. “I’m not surprised. Condos are hard. Condos in Florida have to be next level,” said one retail lending executive. “We have an investor who won’t do any deals in Florida or near major bodies of water.”A combination of soaring insurance rates and new regulations on condo association reserves and building maintenance work has created a surge in condo inventory in Florida. In particular it’s created a glut of 30-plus-year-old units on the market, with few takers. According to Altos Research, the median list price for a condo in Miami-Dade County last week was $505,000, down from the peak of $620,000 on July 1, 2022. Inventory has also been surging — it was up to nearly 10,000 units last week, a sharp rise from about 6,300 a year ago.Following the Surfside condo collapse in 2021 that killed 98 people, Florida lawmakers passed the Condo Safety Act, requiring condo associations to modernize buildings that had pushed off critical work for years. The law also requires buildings to complete a structural integrity reserve study that will assess how much work needs to be done. Associates will then need to levy a special assessment on owners, which can run as high as six figures per owner at some buildings. Some owners of older condo units have had to list at prices far below what they bought the units for because special assessments are so high (and are difficult to finance). Relatedly, Fannie Mae and Freddie Mac have blacklisted a number of condo buildings in South Florida that it won’t back loans for. One Florida mortgage broker said the Provident exit gave him “a feeling that we will see other major lenders exiting the condominium market in Florida. This could result in the local community banks and credit unions providing the financing, likely with maximum loan-to-value ratios of 80% or less.”Some agents believe the condo market choppiness in Florida isn’t all bad news. “The condos that may have been more financially responsible or proactive with repairs, those are the ones people really feel comfortable purchasing at a time when many feel like the risk might not be worth it,” Cyndee Haydon, a Seminole-based agent for Future Home Realty, told HousingWire in July. “I am anticipating that the biggest challenges in the future are going to lie with the older condo stock as many people already only want to look at newer complexes.”

When older homeowners wish to access a portion of their equity, there are multiple options.Of course, selling the home is generally not desirable. A cash-out refinance is also not a prudent pathway for retirees. A refinance not only saddles the homeowner with a required monthly payment but will also typically result in a higher interest rate for those that refinanced in the last decade.The Home Equity Conversion Mortgage (HECM) and the Home Equity Line of Credit (HELOC) remain as the primary options left for older homeowners who want to use their home equity to create more liquidity during retirement. Let’s define and compare them.HOME EQUITY CONVERSION MORTGAGE (HECM): The HECM allows homeowners age 62+ the ability to leverage a portion of their home’s value without a required monthly principal and interest mortgage payment.* Many HECM borrowers will leave a portion of their available funds in an open line of credit.HOME EQUITY LINE OF CREDIT (HELOC): The HELOC has no age requirement and is offered through lenders and local banks. It also allows the homeowner to draw a portion of the home’s value, but only for a defined period. Monthly principal and interest mortgage payments are also required.Key differencesBoth products give homeowners the ability to borrow a portion of the home’s value while continuing to own and live in their home. Both will also charge interest on the amount borrowed, but that is where the similarities end.The HECM has higher upfront fees, although almost all of them are rolled into the loan. From there, the HECM will have the benefits of a traditional HELOC, plus some significant advantages listed here:The HECM is currently offering lower interest ratesThe HECM requires no monthly principal and interest mortgage payment*The HECM maturity date is age 150, so long as all loan terms are metThe HECM line of credit cannot be frozen, reduced, or eliminated if home values declineThe HECM line of credit grows at the same rate as the loan balance, increasing borrowing powerWith its flexible repayment structure, the HECM is the option that generally makes sense in retirement. It gives retirees the control, independence, and security they require. Furthermore, establishing the reverse mortgage line of credit early in retirement allows the unused funds to experience growth that will become more important as the borrower ages.October 2024 updateSince my last rate update in September, the 10-year CMT weekly average, which calculates HECM expected rates, has increased by 29 basis points. We add the new weekly average (4.06%) to the lender margin, resulting in an effective expected rate for new HECM applications from Oct. 16 to Oct. 21, 2024.The weekly average 1-year CMT is added to the lender margin and is used to calculate interest accruals. You’ll notice the 1-year CMT is precisely where it was last month. Consequently, the spread between the 10-year and the 1-year has narrowed. It appears the rate inversion we’ve had since July of 2022 may soon end.*Borrower must continue to pay all property charges including property taxes, homeowner insurance, HOA dues, and more.Graphics by Dan Hultquist. This column does not necessarily reflect the opinion of HousingWire‘s Reverse Mortgage Daily and its owners.To contact the author of this story: Dan Hultquist at dan@understandingreverse.comTo contact the editor responsible for this story: Chris Clow at chris@hwmedia.com

With a little more than two weeks remaining until Election Day, the policy positions of the major political parties’ nominees for president — Democrat Kamala Harris and Republican Donald Trump — have been under the microscope.Each of their potential policies toward the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program have already been documented by HousingWire’s Reverse Mortgage Daily (RMD). But another set of positions on the overarching issues related to elder care could also impact the reverse mortgage industry next year and beyond.ElderLawAnswers, an online informational resource designed to clarify some of the legal issues and realities of laws pertaining to older Americans, recently compiled a profile of both candidates’ perspectives on elder care. It found — unsurprisingly — major differences in the approach each would take to the issues if elected.The outlet identified four key differences between their approaches, with the first being centered on the role the government should play in elder care issues.“The most significant difference between the two candidates is their vision for the role of government in caregiving,” the outlet said. “Harris envisions an expanded federal role, with significant government investment in caregiving infrastructure, financial support for families and direct service provisions. In contrast, Trump’s approach relies more on market-based solutions and state-level governance, aiming to reduce federal involvement and regulation.”There is also a difference in how the candidates focus on the source of care: direct workers or family caregivers.“Harris places a stronger emphasis on improving conditions for paid caregivers, including home health aides and nursing staff,” the article explained. “Her proposals include raising wages and providing better training for these workers. Trump’s platform, though supportive of family caregivers through tax incentives, does not offer the same focus on the professional caregiving workforce.”The outlet also compared the policies each candidate has outlined for paid family leave, a cornerstone of Harris’ labor-focused campaign plans. While the first Trump administration offered a limited parental leave plan for federal workers, this isn’t a fixture of the 2024 campaign platform, according to the outlet. It characterizes Harris’ approach as “broader, encompassing not only parental leave but also leave to care for aging family members.”The final key difference centers on care affordability. Harris’ platform emphasizes making these caregiving services more cost-effective for a wider variety of families and individuals. Trump’s plan is more focused on providing different economic tools to make such care more attainable for people through the use of tax credits, access to private insurance coverage for some of these costs and offering the ability for the management of care services on an individual basis.Harris recently spoke about her plan in an appearance on “The View,” a daytime TV talk show, where she said that she would aim to allow Medicare to cover more in-home care expenses.Trump’s public-facing comments on such plans have been limited, though his campaign is more focused on private solutions and reducing regulatory barriers that the campaign says could interfere with personal management of such care.

Since mortgage rates have headed higher again, I was anticipating that today’s housing starts report would be the last decent print before the effects of higher mortgage rates hit the builders, but even this report was disappointing. We had a good few months of positive builder confidence data for the new home sector and positive purchase application data for existing home sales. However, mortgage rates shot up again after the Federal Reserve cut rates on Sept. 18. Simply put, Fed policy is still too restrictive for housing growth, and rising rates over the last few weeks won’t help. This has been so confusing for the American consumer that CNBC asked me to talk about this topic today. With homebuilders completing more homes in their backlog and 5-unit permits basically at recessionary levels, we are at the stage where policy is going to impact the future supply of shelter. Let’s take a look at the report.From Census: Building permits: “Privately-owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,428,000. This is 2.9 percent below the revised August rate of 1,470,000 and is 5.7 percent below the September 2023 rate of 1,515,000.”We are at recessionary levels for housing permits for 5-unit housing. Anyone who thinks we are on the verge of a housing construction boom is kidding themselves, with the policy still this restrictive. Now, over time, the falling Fed funds rate can create better demand for apartment construction, but that’s not today, my friends. I am just hoping that we are closer to the bottom of housing permits for 5-unit construction, so eventually, when Fed policy is less restrictive, we can build more apartments.“Single-family authorizations in September were at a rate of 970,000; this is 0.3 percent above the revised August figure of 967,000. Authorizations of units in buildings with five units or more were at a rate of 398,000 in September.”This was the most disappointing aspect of the report; I had anticipated better growth in single-family permits because the recent uptick in mortgage rates shouldn’t have been fully felt here yet. However, we know that mortgage rates above 6.75% have made the builders less enthusiastic about issuing many single-family permits. We also have to remember that smaller homebuilders don’t have the luxury of the more prominent homebuilders who are paying down mortgage rates to sell more homes. Again, it isn’t a positive for America that rates just shot up again.Housing completions: “Privately-owned housing completions in September were at a seasonally adjusted annual rate of 1,680,000. This is 5.7 percent (±19.9 percent)* below the revised August estimate of 1,781,000, but is 14.6 percent (±11.9 percent) above the September 2023 rate of 1,466,000.“This is the one positive story in the report: the backlog and long run times to build and complete homes have finally turned into a noticeably better data line. The only issue with this is that once these units are finished, the lack of housing permit growth, especially in the 5-unit construction area, means we may not ramp up production fast enough to avoid hitting a gap with a lack of production. This also means that if construction workers can’t find AI data centers to work on, we will most likely lose some construction workers. When mortgage rates were over 6.75% earlier in the year, we had no growth in residential construction workers, and single-family permits were falling all year. Historically speaking, when residential workers lose their jobs, the U.S. recession isn’t far away.Overall, this was a disappointing report, and this should throw cold water on anyone who believes we are on the verge of a construction boom because, as I have often noted, the builders aren’t the March of Dimes. They will build once they see demand for their product at a profit. When mortgage rates were getting toward 6%, the builders felt better about their future growth prospects, but that changed in the last few weeks. As I noted on CNBC today, we can grow existing home sales and increase housing production, but we need mortgage rates to stay around 6% for some time. Hopefully this will happen sooner rather than later.

Indiana-based lender Ruoff Mortgage is making a move designed to help more homeowners get into new homes with ease. Ruoff Mortgage is teaming up with fintech company Calque to offer two “buy before you sell“ programs to customers. The Trade-In Mortgage and the Contingency Buster will be available to Ruoff Mortgage borrowers via the company’s online platform and mobile app.The Trade-In Mortgage — Calque’s most popular program — functions similar to a vehicle trade-in. Sellers can tap into their current home equity in a bid to buy another property without coming up with cash for a down payment. Buyers are not required to prepare their current home for sale until after they move into the new property. Calque also offers buyers a guaranteed offer on their current home to reduce risk. “It is quite common that our customers are faced with challenges around selling their current home before they can purchase a new home,” Ruoff Mortgage CEO Clint Morgan said in a statement. “We have partnered with Calque to provide better options to those customers, including the ability to close immediately on a new home before putting their current home on the market.”Calque launched the Contingency Buster in August. The product uses a purchase price guarantee (PPG) to eliminate the need for a sales contingency — a real estate purchase agreement that makes the sale of a property contingent on the buyer’s ability to sell their current home. In other words, if a buyer can sell their home in a specific timeline, the contingency is pulled and the buyer can purchase the property. But the PPG serves as a backup contract that requires Calque to purchase the home at an agreed-upon price if they can’t sell it within 150 days. The process only takes 48 hours, after the buyer completes a virtual appraisal with Calque. “Ruoff Mortgage has been a trusted name in the industry for decades, and their dedication to client success aligns perfectly with our vision at Calque,” Calque CEO Michael Bremer said in a statement. “Together, we’re changing the way people think about home financing by offering solutions that work for real people in real markets.”Calque launched in 2021 to provide lenders with solutions that simplify the home purchasing process for prospective homeowners. It is one of several companies — including Flyhomes, HomeLight and Knock — to offer buy-before-you-sell solutions as mortgage rates and home prices soar. Ruoff Mortgage is a regional lender with more than 650 employees and 60-plus offices across Florida, Indiana, Kentucky, Michigan and Ohio.

The Council of Federal Home Loan Banks (FHLBanks) lauded this week’s release of a report from the Federal Housing Finance Agency (FHFA), which highlighted the banks’ growth in support of affordable housing and community development efforts in 2023.The report detailed FHLBanks’ activity across several programs that include the Affordable Housing Program (AHP), the Community Investment Program (CIP), the Community Investment Cash Advance Program (CICA) and other “voluntary targeted mission-activity programs,” according to the report.The report showed that the FHLBanks delivered $446.9 million in AHP funds, including $35.2 million in voluntary AHP spending. It also indicated that the banks gave $134.6 million in additional voluntary grant funding — good for a total of more than $581 million in funding for affordable housing and community development projects last year.Ryan Donovan, president and CEO of the Council of FHLBanks, expressed appreciation for the FHFA report and said it demonstrates the banks’ commitment to expanding the availability of affordable housing.“Over the last two years the FHLBanks have taken tremendous steps to help address the housing supply and affordability issues plaguing the country,” Donovan said. “This report clearly shows the positive impact and responsiveness of the 11 FHLBanks to the needs of their members and the communities they serve.”Donovan added that the council is “grateful to FHFA for publishing the report,” and looks forward to “continuing to work with the agency, financial regulators, and other stakeholders to develop innovative and workable solutions to the nation’s housing finance needs.”The overall recovery of FHLBank earnings corresponded with “increased support for affordable housing and community development initiatives,” FHFA said in the report. FHLBanks are required to commit 10% of their net income from the prior year to the AHP in response to prior FHFA feedback.“[T]he FHLBanks voluntarily agreed in early 2023 to contribute 15% of the prior year’s net earnings to affordable housing and community development, a 50% increase from the statutorily required 10%,” the council noted in the response letter. “Based on 2022 net earnings, the FHLBank System was assessed $355.2 million for AHP in 2023, as noted in FHFA’s report. The $581 million in AHP and voluntary contributions in 2023 represent a total of more than 16 percent, or more than 60% above the statutory minimum.”But affordable housing issues remain a prominent fixture plaguing much of the country. The presidents and board chairs of the 11 FHLBanks — which have been under pressure to allocate more money to affordable housing — sent letters to the U.S. Department of Treasury in August, arguing that raising their contribution thresholds will not fully address the complexities of the current situation.

A coalition of 34 Democratic senators and representatives submitted a letter this week to President Joe Biden, urging him to direct the U.S. Department of Justice (DOJ) to investigate the pricing practices of Fair Isaac Corp. (FICO)’s credit reports.The letter also encourages the president to direct the Federal Housing Finance Agency (FHFA) to more aggressively investigate hikes on prices for rental housing; to direct the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) to build upon previously established work against so-called “junk fees”; and to promote the development of more housing on federal property.The letter was amplified by the Community Home Lenders of America (CHLA) on its official communications channels. And the Mortgage Bankers Association (MBA) chimed in by explaining the impact that higher credit reporting prices could have on consumers.“The [DOJ] and CFPB should address anti-competitive behavior in the credit scoring market that jacks up prices for consumers,” the letter reads. “The DOJ should investigate whether FICO and others are engaging in behavior that violates federal antitrust law. And the CFPB should explore potential remedies to exploding credit reporting costs, including a cap on fees that credit reporting agencies can charge and interoperability requirements that would allow consumers to move their credit scores without new fees.”The FHFA has already “taken action to promote competition among the credit bureaus and increase accuracy in credit scoring by transitioning to a ‘bi-merge’ system that requires two, instead of three, credit reports from the nationwide credit reporting agencies,” the letter added. “But the administration can and should do more to lower credit reporting costs for everyday Americans.”Some of the letter’s signatories include Sen. Bernie Sanders (I-Vt.) who caucuses in the upper chamber with Democrats; Rep. Alexandria Ocasio-Cortez (D-N.Y.); Sen. Elizabeth Warren (D-Mass.); Rep. Katie Porter (D-Calif.); and Sen. Cory Booker (D-N.J.). There are no Republican who signed the letter.MBA released a statement on Friday saying that as a private company, FICO is free to set prices however they wish. But it added an important caveat.“Over the past two years, MBA has voiced our frustration with the lack of transparency behind the ongoing price hikes for tri-merge credit reports and other credit reporting products,” said Bob Broeksmit, MBA’s president and CEO.“While FICO and the credit reporting agencies are private companies free to set their prices as they wish, raising prices once again would hurt consumers at a time of continued affordability challenges,” he continued. “Lenders are required to obtain FICO scores and three credit reports to make most loans to prospective homebuyers and homeowners looking to refinance. Charging more every year for a long-established product underlines the lack of competition in this space.”Wall Street investors and analysts this week forecast that FICO credit reporting costs could rise in 2025 on the backs of lower interest rates, which could spur mortgage application activity. When reached by HousingWire, the company declined to comment.But the letter shows that the discussion around the cost of credit scores is grabbing the attention of some lawmakers, who for months have seen housing issues become a prominent — though not dominant — fixture of the 2024 election cycle. Majorities in both congressional chambers are up for grabs, as is the presidency.

Real estate professionals will be looking to the recent decision in the Moratis commission lawsuit as they seek clarity on the outcomes of related cases. (Image generated by AI in Midjourney)In the nearly 12 months since a Missouri jury found the real estate industry liable for colluding to artificially inflate real estate agent commissions, much of the discussion has centered upon the settlement agreements that have followed and how the industry can move on from this verdict. But while many of the industry’s major players — including the National Association of Realtors (NAR), RE/MAX, Compass, Anywhere, HomeServices of America, Keller Williams, Redfin, and eXp have settled the commission lawsuits, family-owned firm Howard Hanna Real Estate Services decided to take a different tack.Despite other defendants trying and failing, Howard Hanna decided to file a motion to dismiss the Moratis case, formerly known as the Spring Way suit, filed late last year in Pennsylvania.Like the nearly two dozen other copycat lawsuits filed in the wake of the Sitzer/Burnett verdict, the Moratis suit accuses real estate industry players of colluding to artificially inflate agent commissions. Most of the suits cite NAR’s Participation Rule, which required listing brokers to make a blanket offer of compensation to buyer’s brokers in order to list a property on an MLS. But West Penn MLS, the multiple listing service at the center of the Moratis suit, is owned by local brokers and not a Realtor association.Despite not being Realtor-affiliated, West Penn MLS had a rule similar, but not identical, to NAR’s Participation Rule. This ultimately contributed to Howard Hanna’s successful bid at being dismissed from the suit with prejudice.David Gringer, a partner at the law firm Wilmer Hale, which is representing Howard Hanna in the commission lawsuits, noted that while all of these cases share similarities, they are not identical.While the Sitzer/Burnett suit has been used as a vehicle to facilitate nationwide settlements for its defendants — and countless other firms that have opted in via the NAR settlement —the case dealt with how real estate is transacted in four MLSs in Missouri.“The first maxim of real estate is that all real estate is local,” Gringer said. “I’m in New York and I know the real estate market here is very, very different than it is outside of Pittsburgh, or in Ohio, or in Missouri. And so, you can’t look at a few counties in Missouri and extrapolate a national practice.”“In fact, different regions do things differently,” Gringer added. “In West Penn MLS, they had a different set of rules and different practices than those at issue in Missouri. The plaintiff tried to argue that the different practices were the same as those in Missouri, but to the great credit of the court, he took the time to look at the arguments and realized that this isn’t how things are done here.”According to Gringer, while the court’s ruling only takes Howard Hanna out of the Moratis suit, the outcome is still “significant.” He is not the only one who thinks so.“There are an awful lot of the large regional realty companies who have not entered into settlements, and I think this will certainly give them a boost,” said Charles Cain, an attorney at Sterbcow Law Group and the president of Alliance Solutions.Cain takes a similar view to Gringer by noting that real estate is not transacted the same way in every county across the country.“So much of real estate is highly localized, and as these lawsuits move forward, we may see a real discrepancy about verdict or decisions by the courts,” he said. “The slightly different factual scenarios as to how the multiple listing services in question function could result in different verdicts.”For Cain, the fact that the multidistrict litigation panel refused to consolidate multiple commission lawsuits was a key indicator that they are not as similar as they are often treated.“West Penn MLS is independent of NAR and they don’t have the same rules as the MLSs at the center of the Sitzer/Burnett suit,” Cain said. “As each of these cases move forward and there are factual differences, we may see more of this.”Paul Rogers, an antitrust law professor at Southern Methodist University, said it isn’t unusual for cases with similar issues to have different outcomes.“Cases are fact driven and judges certainly try to apply the law consistently, so with different facts it is conceivable that they would reach different verdicts,” Rogers said. “On one level it is surprising, because we had the verdict and then we had everyone settling, but then West Penn MLS is an independent MLS that has its own rules that are distinct from NAR, “So, with those differing facts, if you get a really good law firm to defend you, and you decide to litigate, yeah, the outcome could very well be different.”While a differing outcome may be positive news for other defendants looking to potentially litigate these suits, Cain believes Howard Hanna’s dismissal will only cause more chaos and confusion for the industry.As he sees it, if a brokerage like Howard Hanna succeeds in having a case against them dismissed, they could potentially still publish offers of buyer broker compensation on the MLS, if the local MLS still allows it. Importantly, however, franchised brokerages like Anywhere or RE/MAX — which have agreed to end this practice as part of their settlements — that operate in the same MLS would not be able to engage in the practice, creating a patchwork of regulations.“It is just adding to the confusion. The clarity is not coming — at least not in the near future,” Cain said. “For the realty companies, any victory is a victory at this point, but it is really going to be about how things move forward from here for the next year or two as the industry sorts itself out.”

Vetted by HousingWire  |  Our editors independently review the products we recommend. When you buy through our links, we may earn a commission.According to the National Association of Realtors (NAR), 96% of homebuyers use the internet in their home search. It’s now more crucial than ever to optimize your real estate website and online presence to attract new business — whether you’re a seasoned real estate agent or a newcomer eager to establish your digital footprint. In this article, we delve into the best real estate lead generation websites to attract new clients and build your online brand in 2024.Summary7 best real estate lead generation websites: At-a-glancePlacesterZillow Premier AgentZurpleAgentFireCINCSierra InteractiveiNCOM5 must-have features for real estate lead generation websitesReal estate farming: The full picture7 Best Real Estate Lead Generation Websites for 2024: At-a-glanceDone-for-you support team & marketing servicesPlacesterJump to details ↓From $48/monthVISITMatching with buyersZillow Premier AgentJump to details ↓No minimum monthly feeVISITExclusive buyer leads + automationZurpleJump to details ↓From $149/monthVISITHyperlocal leadsAgentFireJump to details ↓From $149/monthVISITHyperlocal leads (for teams)CINCJump to details ↓From $900 for solo plans to $1,500 for up to 49 usersVISITSEO-driven leadsSierra InteractiveJump to details ↓From $400/monthVISITCost-effective IDX integrationiNCOMJump to details ↓From $49.95/month + $249.95 startup feeVISIT7 Best Real Estate Lead Generation Websites for 2024: At-a-glanceDone-for-you support team & marketing servicesPlacesterFrom $48/monthVISITJump to details ↓Matching with buyersZillow Premier AgentNo minimum monthly feeVISITJump to details ↓Exclusive buyer leads + automationZurpleFrom $149/monthVISITJump to details ↓Hyperlocal leadsAgentFireFrom $149/monthVISITJump to details ↓Hyperlocal leads (for teams)CINCFrom $900 for solo plans to $1,500 for up to 49 usersVISITJump to details ↓SEO-driven leadsSierra InteractiveFrom $400/monthVISITJump to details ↓Cost-effective IDX integrationiNCOMFrom $49.95/month + $249.95 startup feeVISITJump to details ↓Placester: Best for done-for-you support team & marketing servicesStarting at $48/monthFeaturesMarketing support team to help with daily tasksIDX integrationCRM toolsEmail auto-responder & drip campaignsPros & Cons30-day free trialUnlimited page creationContent creation services included in their top-tier packageLead capture via gated listings + automated home valuation landing pagesDo-It-For-Me services have a $500 setup fee + higher monthly subscription feeWebsite design templates lack customizabilityWhat We LovePlacester is a real estate agent’s key to exceptional lead generation. It comes with a hands-free, Do-It-For-Me (DIFM) package that helps any agent craft a custom website in just 48 hours – no matter how tech-savvy you are (or aren’t). This innovative service is great for the individual agent looking to level-up their online presence, and it also offers significant advantages for teams and brokerages.Looking at the pros and cons, Placester stands out as a fast and affordable real estate website builder, especially with its recent pricing changes. It allows code-free site editing, which provides a good number of customizations, even in the less expensive Do-It-Yourself (DIY) package.Yet, for lead generation specifically, Placester’s templates provide built-in lead-generation functionality, such as custom landing pages, hyperlocal community pages and testimonials.There’s also the seamless integration of a customer relationship management (CRM) tool, which helps you nurture your email list with features like auto-response, email drip and blast campaigns.Additionally, Placester’s DIFM + Content plan boosts organic traffic through search engine-optimized blogs and social content. All in all, Placester’s DIFM package is a compelling solution for real estate professionals looking to supercharge their lead generation efforts with a hassle-free website.Check out PlacesterZillow Premier Agent: Best for matching with buyersFree to join, but you pay per leadFeaturesPlans for individual agents, small teams & brokeragesImprove discoverability & brand recognition with Premier Agent profileAccess to Zillow and Trulia’s audience and dataLead capture via ads on Zillow’s listing + agent finder pagesPros & ConsUser-friendly dashboardEasily connects ZPA agents to buyersNo minimum monthly spendCost per lead is comparatively highLacks all-in-one marketing tools other platforms haveWhat We LoveTargeted at real estate agents and brokers, Zillow Premier Agent is particularly well-suited for those focused on representing buyers. It’s also a valuable choice for agents who don’t already have an extensive sphere of influence for referral leads.The platform provides a dashboard for tracking team performance and custom lead routing through its agent CRM. Users praise the concierge features of the Zillow platform, such as call vetting before transferring leads to agents and access to a buyer’s previous search information upon receiving the lead.That said, Zillow Premier Agent’s cost per lead can be steep, influenced by area competition and your ZIP code. Negative reviews primarily revolve around this cost, combined with poor lead quality and low conversion rates due to window shoppers.Agents who use Zillow Premier Agent should expect to consistently nurture the leads they receive, as exclusivity is not the norm. For this reason, smaller teams may face challenges, especially when competing with larger brokerages with more extensive budgets and potentially long-standing relationships.Check out Zillow Premier AgentZurple: Best for exclusive buyer leads + automationStarting at $149/monthFeaturesAdvanced CRM with personalized, automated lead nurturing Purpose-built lead generation websitesListings include school + community informationDone-for-you pay-per-click (PPC) advertising Lead capture via gated listings + automated home valuation landing pagesPros & ConsExclusive buyer leadsTracks lead’s behavior + sends personalized, automated conversion & nurturing messages Seller leads generated via automated home valuations Behavioral lead scoring identifies hot leadsVery limited website customization optionsWebsites are very basic with limited personal branding Replaces rather than augments your CRMOpaque pricing structureWhat We LoveZurple builds custom-branded lead-generation sites and advertises them on search engines and social media platforms to generate buyer leads. Unlike Zillow or other large platforms, Zurple’s leads are exclusive. As an agent, you can claim your city, zip code or favorite neighborhoods, and Zurple will send leads from those areas to you.Once your leads are captured, Zurple tracks their behavior on your Zurple website and sends personalized, automated SMS and email messages until they’re ready to speak to you. The system can track when a buyer lingers on or saves a listing, and other behaviors that signal they’re close to making an appointment.Seller leads are generated via social media ads that offer automated home valuations, the industry-standard strategy for capturing listing leads. Zurple uses the same personalized, automated messaging to nurture seller leads, though agents are encouraged to take the reins earlier than with buyers.Zurple is ideal for agents and small teams who want to generate buyer leads in bulk and keep them warm with automated messaging. You get all this automation and advertising expertise for just $149 per month, plus the cost of leads. Zurple’s cost per lead is often much lower than that of competitors like Zillow.Check out ZurpleRelated articles 8 best website builders for real estate agents, brokers and brokerages 7 tips for high-converting real estate landing pages (+ examples that work) AgentFire: Best for hyperlocal leadsStarting at $149/monthFeaturesAutomated home valuations Direct integrations with popular CRMs and StreetText for PPC adsHyperlocal area guides for zip codes, neighborhoods, and even condo buildingsSingle property websites with open house CTAsLead routing for teamsPros & ConsConcierge team of designers and marketers to set up your websiteCreative lead capture CTAs#1 rated lead generation website on Google, G2, Trustpilot and FacebookLead converter collects phone numbers and emails from property addressesLead capture via market updates, automated home valuation, single property and neighborhood guide landing pagesNo PPC advertising servicesLead management tools are basicNo integrated CRM (though some might see this as a pro)What We LoveAgentFire offers sleek, affordable done-for-you lead-generation websites ideal for agents who want an optimized site without the steep cost and learning curve. After your initial consultation, AgentFire’s designers and marketing experts will customize your website for hyperlocal lead generation in your farm area. Once your website is live, you can drive leads via PPC, SEO or social media to automated home valuation and buyer landing pages.Although AgentFire has higher ratings than any other website builder, some might be dissuaded by the lack of an integrated CRM or PPC advertising services. If you already have a CRM you love and don’t mind running your own PPC ads, we think AgentFire offers exceptional value for money.Check out AgentFireCINC: Best for hyperlocal leads (for teams)Starting at $900/monthFeaturesGoogle and Facebook ad integrationAutomated workflowsTeam trainings, masterminds and live workshops“Guaranteed Sales” programLead capture via gated listings, automated home valuation, cash offer, distressed properties and customizable landing pagesPros & ConsComprehensive CRMAdvanced demographic targetingGuaranteed return on investment in the first yearNot ideal for solo agentsMore expensive than other options, though leads are included in the priceWhat We LoveCINC is one of the top choices for real estate lead generation, with many professionals in the industry considering it a powerhouse. While other platforms cast a wide net, CINC sources leads primarily from Google and Meta (Facebook and Instagram), thereby targeting your desired demographics with more precision.Hyperlocal marketing is the name of the game when it comes to landing real estate leads. It’s more than simply knowing a future client’s desired zip code, but also their favorite delis, coffee shops and grocery stores. Such street-by-street client behaviors provide additional insights into where a lead may buy a home.CINC is an all-in-one solution that seamlessly integrates these targeted marketing strategies with an IDX website and a comprehensive CRM system. CINC’s AutoTrack feature also provides helpful marketing automation, taking lead nurturing a step further with behavior-driven follow-ups. In addition to automated email and text campaigns, CINC provides smart suggestions after each client or lead communication to optimize conversion strategies.While CINC’s subscriptions can be on the expensive side, the value it offers still makes it an attractive choice. And for those concerned about the cost, CINC’s Guaranteed Sales Program helps ease some of that worry by offering a risk-free return on investment. Unveiled in August 2023, the program ensures that participants fully recoup their investment and attain six-figure earnings within 24 months.CINC will even provide the platform for free until the minimum transaction requirement is met, if such earnings aren’t achieved within the first year. While all business investments inherently involve some risk, CINC’s guarantee offers a small safety net for those interested in taking the leap.Check out CINCSierra Interactive: Best for advanced IDX feed integrationStarting at $499/monthFeaturesStandout SEO features to improve organic trafficSpecific IDX filter tags (attract better-qualified leads)Sophisticated CRM with auto dialerLead capture via gated listings + automated home valuation and customizable landing pagesPros & ConsReports high conversion ratesUnlimited pagesAllows multiple MLS feedsNot ideal for solo agentsMore expensive than other options, though leads are included in the priceWhat We LoveThough priced slightly higher at $499 per month, Sierra Interactive stands as an all-in-one lead generation solution catering to real estate agents in higher-end luxury markets. Its top-quality websites are not only sleek, upscale and elegant, but are expertly designed for SEO, driving organic traffic and providing a competitive edge.$499/month for single agents, + lead gen costs (your ad budget) + your MLS feesThe integrated CRM suggests automated action plans for incoming leads, guaranteeing timely and strategic communication. In addition to SEO, Sierra Interactive’s lead generation power is fueled through ad tooling. Your monthly subscription grants you up to $1,000 in free Google Ads management, access for five users and the ability to use hundreds of templates for your website, whether for property pages or community pages, buyer pages, seller pages and blogs.Check out Sierra InteractiveiNCOM: Best for cost-effective IDX integrationStarting at $49.95 per month + $249.95 startup feeFeaturesNo commitmentPersonalized ad targetingLead capture via gated listings + automated home valuation, price drop, listing update and foreclosure landing pagesPros & ConsAffordable, with no commitmentGreat SEO functionalityMore features than comparably priced rivalsLimited design optionsLess-than-stellar CRMWhat We LoveAt just $49.95 per month, iNCOM presents a budget-friendly solution for real estate professionals, particularly suited for those looking to attract more real estate leads. It offers unmatched affordability with no long-term commitments, unique IDX search options like foreclosures and recently sold properties, and easy lead export to other CRMs. However, the CRM options are somewhat limited, and there are relatively few website templates.iNCOM offers a basic package for a typical single agent at $49.95 per month, along with a $250 setup fee. Additional services for paid Google or Facebook ad management are available at $100 per month, plus ad spend.It also earns a nod for stickiness: its notable ReCall Marketing feature periodically re-targets website visitors with personalized ads on other sites, helping your business stay top-of-mind during your clients’ home search.Check out iNCOMRelated articles The 9 top real estate lead generation companies for 2024 9 best places to buy real estate leads in 2024 The ultimate guide to real estate lead generation ideas for 2024 Five must-have features for real estate lead generation websitesYour real estate website is an essential part of an integrated lead generation strategy. Let’s review some of the key features your website will need to generate and capture new leads. These include: Email capture capabilitiesYou’ll need the ability to capture leads (get visitors’ email addresses, phone numbers or, better yet, detailed home search criteria) using popups that invite your website visitor to subscribe or register. For example, a landing page that offers a free home valuation is an effective way to capture seller leads. You can also offer downloadable neighborhood guides, a list of your preferred home stagers, or tips for preparing a home for sale. The goal is to stay in touch with your website visitors until they’re closer to a transaction.Buyer and seller-specific landing pagesYou’ll want a site that offers visitor-specific content pages. For example, buyers will want to browse listings while home sellers visiting your site will appreciate your free home valuations. Don’t simply direct traffic to your homepage — give prospects and leads what they’re looking for right away.CRM Integration + Automated drip campaignsA solid CRM that can leap into action and contact site visitors via text or email immediately after they’ve shared their contact information on your website, ensuring you never lose a prospect by waiting too long to make contact with them. Speed to lead matters more than ever in 2024.Excellence in brandingYour real estate website can generate leads by effectively communicating your brand and value to every site visitor. While most traffic you drive to your site through pay-per-click or PPC ads will just want what they came for, others will stick around to learn about you and the services you offer. Visitors may arrive at your site for the listings, but if your site’s branding doesn’t make you seem likable, trustworthy and competent — in that order — converting them to clients will be an uphill battle.Mobile-friendly designYou must be able to attract real estate leads where they live — on their phone, where most browsing, researching, sharing and home comparisons occur. Like many of us, homebuyers are constantly on the go. Your target client is likely a busy professional juggling personal and work responsibilities and hopping from one open house to the next on the weekends. Your real estate website needs to look and work great on mobile. If it doesn’t, they’ll find one that does.The full picture: Real estate lead generation websitesYour real estate website should be an engine that attracts leads, keeps them engaged, and captures their contact information. It should have a clean, appealing design and a highly functional user experience — and should include an MLS feed, easy-to-navigate listings, and a home valuation page for potential sellers. Email capture is essential so that you can add new site visitors to your CRM and continue to stay in contact with them until they’re ready to move. Thankfully, real estate lead generation websites have evolved significantly in recent years. Our list of top real estate lead generation websites includes options for agents at every stage of their careers, as well as for teams and brokerages. There are website providers for almost every budget to help you connect with prospective buyers and sellers online. We regularly revisit our choices to reflect changes in technology and the market, new offerings, price changes, and the latest features to ensure you’re making a good investment in a tool that will stand the test of time.Related articles 9 best places to buy real estate leads in 2024 9 innovative strategies to get more real estate seller leads in 2024 Get more real estate buyer leads in 2024 jQuery(document).ready(function($) { // Automatically open the accordion with the class 'open-on-load' var openAccordionHeader = $('.vetted-accordion-header.open-on-load'); var openAccordionContent = openAccordionHeader.next('.vetted-accordion-content.open-on-load'); // Set the specific accordion as active and expand it openAccordionContent.addClass('active').css('max-height', 'none'); // Set max-height to 'none' to show all content openAccordionHeader.addClass('open-toggle'); // Add class to header for open state // Click event for all accordion items $('.vetted-accordion-header').click(function() { var content = $(this).next('.vetted-accordion-content'); if (content.hasClass('active')) { // Collapse the section if it's already active content.removeClass('active').css('max-height', '0'); $(this).removeClass('open-toggle'); // Remove class from header } else { // Expand the clicked section content.addClass('active').css('max-height', content.prop('scrollHeight') + 'px'); $(this).addClass('open-toggle'); // Add class to header } });});

Vetted by HousingWire  |  Our editors independently review the products we recommend. When you buy through our links, we may earn a commission.As a professional marketer, your real estate landing pages are one of your most valuable lead generation assets. Get them right, and your ROI from paid leads will soar. Get them wrong, and your leads will head right back to Zillow.To help, we’re giving you seven deceptively simple tips we’ve used to convert thousands of leads on landing pages. After the tips, we break down eight high-converting landing pages to explain why they work and give you actionable takeaways to start converting more leads today.SummaryWhat are real estate landing pages?9 high-converting real estate landing pages + why they workSeller lead landing pagesHome valuation landing pagesCash offer landing pagesBuyer lead landing pages7 expert tips for high-converting real estate landing pagesWhat are real estate landing pages? Real estate landing pages are web pages that use UX and copywriting techniques to persuade someone to take a specific action. Most landing pages include a compelling offer and ask for a buyer or seller’s contact information in return. The goal is simple but not easy: convert site visitors into leads. Common landing page offers include: An instant or in-person home valuationA lead magnet (buyer or seller guides, off-market listings)A seller consultation A buyer consultation A cash offer for a home An RSVP for an open house9 high-converting real estate landing pages + why they workLet’s look at a few examples of high-converting real estate landing pages to break down why they work and how you can “borrow” their strategies to increase conversions on your own pages. These examples have been extensively tested and refined by professional marketers to maximize conversion rates. Seller lead landing pagesThe classic “sell with us” landing pages are a mainstay of every real estate website and one of the best ways to generate seller leads online. These examples use clever copy, simple graphic design, and emotionally compelling messaging to increase conversions:CorcoranWhy it’s so effective: This custom seller landing page leverages clever copy and imagery that empathizes with a common seller pain point – the stress of moving — an effective way to highlight one of the main benefits of working with a listing agent. Key takeaways: A friendly CTA: “Let’s talk” subtly reminds people that the next step is a conversion with a caring and empathetic expert who can help solve their problemUse pleasing and complementary button colors: The soft terracotta pink of this button is on-trend and doesn’t scream pushy salespersonCreate a visual hierarchy that leads to your CTA button: The headline and body copy are centered and lead directly to the CTA button. Clicking feels like the natural thing to do after readingShore LivingWhy it’s so effective: On-trend graphic design is an ideal way to show off your marketing chops to millennial homeowners (and the boomers who envy them). Soft pastel colors and an elegant serif font hint that you have a sense of style — crucial for marketing homes in the social media era. Key takeaways: Use a custom headline: “Partner with a Realtor who gets it” is far more compelling than the bog standard “sell with us” every other agent uses. Give them a way to call you: The click-to-call feature lets people call you directly. Even if they don’t use it, it shows you are making yourself available.Clear, direct CTA button copy: Make it clear what will happen after they click the button.Get this landing page from AgentFireBond Street PartnersWhy it’s so effective: More elegant than trendy, this landing page leverages a simple, direct headline “sell with us” with creative CTA button copy: “Let’s get started.” Instead of empathizing with the seller’s pain points, they include a team photo in a bite-the-back-of-your-hand beautiful listing. The message is clear — these are sophisticated professionals who sell high-end homes. Key takeaways: Add your headshot: Adding a headshot or team photo reminds sellers that there is a friendly, empathetic human behind the pageUse copy that’s creative, but not TOO creative: As a general rule of thumb, if you use creative copy for your headline, use more traditional copy in your CTA button.Highlight your smiling face, not the CTA button: The CTA button is barely noticeable. Your eye is immediately drawn to the well-dressed agents.Get this landing page from Agent ImageHudson AdvisoryWhy it’s so effective: This page uses a more general headline that keeps the door open for inquiries from developers or even high-end renters. The agent’s picture exudes a casual elegance — they’re wearing T-shirts! — that lets the jaw-dropping architecture of their listing in the background do the talking. Key takeaways: Highlight your smiling face, not the CTA button: The CTA button is the same color as the background. The focus is on the agents and the architecture. Use a creative headline: “Real estate advisor” sounds way more important (and useful) than “agent” or “broker”. Be thoughtful: The inclusion of “best time to call” radio buttons shows leads they are sensitive to the busy schedules of their clientsHome valuation landing pages Home valuation landing pages are an excellent way to connect with homeowners still in the curiosity stage of selling their homes. They provide a simple but compelling offer: an expert opinion of their home’s value that’s more accurate than a Zestimate. Once you have their contact information, an in-person home valuation is an easy upsell.These examples use simple but highly effective UX and copywriting strategies to increase conversions and generate more leads.The Caul GroupWhy it’s so effective: This elegant home valuation page from a luxury brokerage offers homeowners two options to find out how much their home is worth. They can choose between an in-person or an instant home valuation. While conversion data show instant home valuations are far more popular, allowing homeowners to book an appointment is never a bad idea. Key takeaways: Make it easy: Both the instant and in-person home valuation pages explain precisely how long the process will take in “3 simple steps.” Use on-brand design: Simple, clean and elegant design is on-brand for a luxury team.Use visual time cues: The in-person valuation page includes visual cues to show where the lead is in the process.Give them a way to call you: The click-to-call button gives leads a chance to call the agent at any timeGet this landing page from AgentFireJody Clegg TeamWhy it’s so effective: Instead of the hard sell, this page focuses on educating sellers with friendly videos that include clear calls to action. This personal approach helps her team stand out in a sea of anonymous home valuation pages. Who would you rather get your home value from? Key takeaways: Include videos: Videos are an excellent way to ease your seller’s concerns about working with a pushy agent. Make sure they’re friendly, informative and short. Address objections: The copy below the fold addresses common objections and highlights the value of an expert home valuation. Give them a way to call you: Leads can use the click-to-call button or the schedule-a-call link.Get this landing page on Sierra InteractiveAnchor Real Estate AdvisorsWhy it’s so effective: This landing page boasts clean and simple design to highlight the call-to-action and uses clever copywriting techniques to increase conversions. The benefits of signing up are displayed above the fold — giving tire kickers an easy justification for signing up. Key takeaways: Know your leads: The copy below the headline cleverly mentions that people can use their elevations to find out how much a neighbor’s home is worth. This is a common reason people use home valuations that some leads might not have thought of. Use friendly copy: “Stay in the know” provides readers with a tiny bit of FOMO or fear of missing out. Tell them exactly how long the process will take: “Gain insights in 30 seconds.” Include deal sweeteners above the fold: The inclusion of recently sold listings and market updates shows leads they will get more value than a simple home valuation.Get this landing page on CINCCash offer landing pages Cash offer landing pages are all about Benjamins. Sellers considering cash offers only want to know two things: How much you can give them for their home, and how much stress you can remove from the selling process. This page does both masterfully:  Chris LindhalWhy it’s so effective: This cash offer landing page uses ruthlessly simple and empathetic copy to convince people to sign up. The headline is clear, and the subheadline hits the pain points of selling a home in just nine words. Below, they present their solution to those pain points with just three words: Easy. Fast. Profitable. Social proof is cleverly placed right next to the lead capture form — exactly where most people will have second thoughts about giving away their contact information!Key takeaways: Include social proof: Including Zillow and Google ratings above the fold reassures skeptical homeowners that this broker is trustworthy and competent. Highlight benefits, not features: The copy focuses on the benefits — easy, fast, and profitable — that a homeowner will get with a cash offer. Emotionally resonant images: Instead of a stock photo of a home, this page features happy, smiling children. The message is: “If you work with us, your children will be happy.”Buyer lead landing pages Buyer-lead landing pages are a trickier beast. You’re not just competing with other agents; you’re competing with portals like Zillow and Realtor.com. Focus on personalized, friendly copy that emphasizes your personal brand to keep them hooked. Here’s a deceptively simple yet effective example:Shore LivingWhy it’s so effective: Combining personalization (“Buy With Julie”), elegant design and creative copy is a surefire recipe for high conversion rates. The centered copy and CTA button create a pleasing visual hierarchy that encourages leads to click on the button. The “LETS TALK” button on the top right gives leads who just want to talk to an agent an easy way to do it.Key takeaways: Use a creative headline: “Buy With Julie” and “Unlock The Door To Your Dream Home” emphasize the excitement many buyers feel about finding a new home. Use design that reflects your personal brand: The genteel script and serif fonts and the stately (but not too stately) home in the background are on-brand Keep it simple: there are only ten words on the page and every single one of them has a purpose — to convert the visitor into a lead.Get this landing page on AgentFireRelated articles 6 best real estate lead generation websites for 2024 8 best website builders for real estate agents, brokers and brokerages The 9 top real estate lead generation companies for 2024 7 expert tips for high-converting real estate landing pagesNow that you have some inspiration from high-converting landing pages, here are seven expert tips for building your own1. Write a clear + emotionally compelling headlineEffective headlines must be clear enough to reassure people they are in the right place and emotionally compelling enough to convince them to stick around. Consider these two headlines:Sell With Us ORBuy With JulieUnlock the Door to Your Dream HomeWhile both are clear, the second headline is far more emotionally compelling. Which one makes you want to keep reading? Which makes you feel more confident that the agent is likable, trustworthy and competent? The second headline has only seven more words, but the difference is everything. Who would you rather work with?2. Make a personal connection with a lifestyle headshot While the jury is still out on whether videos increase conversions, a friendly, professional lifestyle headshot can make your conversions skyrocket. People want to work with other people, not brands. They skipped the Zestimate and ended up on your home valuation page, right? Hammer home that you are a living, breathing, empathetic human on your landing page, and your conversion rate will soar.3. Empathize with pain points, then offer a solutionAs a Realtor, your main job is to help people. Before they even think about letting you help, they need to know you understand their problem. That’s why empathizing with your lead’s problems is one of the most common and effective copywriting techniques. Follow up with a solution (and the benefits of that solution), and your phone will never stop ringing.The cash offer landing page above does this masterfully:Pain points: No staging. No cleaning. No showings. No open houses. Solution + benefits: Guaranteed offer.  Easy. Fast. Profitable.Note how the solution and benefits are just five words but still pack an emotional punch. Who doesn’t want their home sale to be easy, fast, and profitable?4. Make it easy — don’t make me think!The first rule of effective UX design for landing pages is “Don’t make me think.” If your visitor has to think about what you’re trying to say or what you want them to do next, you’ve already lost. If they’ve even dreamed about buying or selling a home, they are inundated with ads, calls, and offers from other agents. Why not make it easy for them?Here are a few ways to make it easy:Add visual cues to tell them how long the process will take: Step 1, Step 2, Step 3Tell them how long the process will take: “In 3 easy steps” or “in 30 seconds.” Keep above-the-fold copy short and sweet  Make the CTA button the most prominent element on the pageKeep lead capture forms short: Name, email, phone numberFade background images to make your copy easier to read5. Personalize your CTAs After your headline, your CTA is the most important element on your landing page. If they don’t click, you don’t get a lead. It’s that simple. Want to squeeze a few more leads from your CTAs each month? Data show that personalized CTAs have 202% higher conversion rates than dull CTAs like “click here” or “send.”Here are a few examples:Start your journeyLet’s talkLet’s get startedList my homeJust don’t get TOO personal. Remember the golden rule of copywriting: clear > clever.6. Include social proof While most people who end up on your landing pages are at least somewhat interested in your offer, many more have doubts. Including social proof with testimonials and Zillow reviews will put them at ease and make them more likely to give you their (actual!) phone number. Think of it like objection handling with words and graphics instead of on the phone. 7. Include a “call now” button While most agents understand the value of a “call now” button on their website, we’re always shocked when they skip them on their landing pages. Think of how many boomers sitting on a Mount Everest of equity might want to pick up the phone and call you instead of filling out a form. Why not make it easy for them with a big fat button that lets them call you directly?Real estate landing pages: The full picture Landing pages are crucial tools for converting online traffic into qualified leads and achieving a better ROI from paid leads. Focus on clear and emotionally compelling copy, personalize your CTAs, add a dash of social proof, use clean design and watch your conversion rate soar.Related articles 9 best places to buy real estate leads in 2024 9 innovative strategies to get more real estate seller leads in 2024 Get more real estate buyer leads in 2024