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Rental Beast November 2020 Market Report: Rental Concessions Gone Wild!
Data Indicates City Living Loses Some Appeal November 24, 2020 -- A combination of surging Coronavirus cases, new lockdowns, expiring government stimulus, and colder weather has set off a Rental Concessions bonanza in U.S. markets, as property managers, owners, agents, and tenants struggle to navigate continued volatility when securing housing plans before year's end. While we have seen Rental Concessions gain momentum as the pandemic continues, the velocity, size, and scope of some of Rental Concessions being offered in some markets have set off desperation alarm bells. Additionally, Rental Inquiries in most cities featured in this report show continued year-over-year (YOY) declines, as renters seek out alternatives away from urban centers, including rentals with more space, to combat the prolonged impact of the pandemic. Atlanta, Boston, Dallas, and Miami continued their months' long trend of lower YOY Rental Inquiry rates, while Chicago and Philadelphia remain volatile but managed to report higher numbers. In our seventh edition of the Rental Beast Market Report, we are pleased to include data and insights on the Dallas/Fort Worth metropolitan area, the fourth-largest urban center in the United States. Rental Concessions Rental Concessions are compromises landlords make to original rent terms in the hope of filling a vacancy more quickly. Rental Concessions can include monetary compensation, a discount, or various goods and services. Rental Beast aggregates single family and multifamily Rental Concessions information from our 22 active markets. Our findings are summarized below. Atlanta For the majority of 2020, Rental Concessions in Atlanta have been significantly higher than last year, and October was no exception, with the city registering a 50% YOY increase. We spoke with a local rental marketing specialist who described Atlanta's Rental Concession environment as "desperate." Having a hard time filling units, her firm is trying anything and everything as the pandemic and its impact on peoples' health and jobs drive both higher vacancy rates and depreciated demand. Rental Concessions from large, multifamily operators like hers have become more aggressive, including bundling multiple concession offers to attract tenants. In many cases tenants claim as many as three concessions packaged into a single, special offer. These 3-for-1 specials can include one month's worth of free rent, a $500 gift card, and a 50% reduction in pet deposits and fees. In November, the same company offered a Veteran's Day special, waiving all application and rental fees, or charging a flat $11 administrative fee for servicemembers. Need an air fryer? The same company is giving them away to tenants signing a lease within 48 hours of viewing a property, along with a month's worth of free rent. Given these observations and the increase in concessions seen in the greater market, the Atlanta market has clearly taken a negative turn over the past 60 days. Our marketing executive interviewee expects heavy concessions to continue for at least the next six months. Boston October represented the 10th consecutive month Boston logged negative Rental Inquiry rates and higher YOY Rental Concession numbers. In October, Boston's Rental Inquiry levels dropped 44% YOY, while Rental Concessions increased by 95%. Savanna Rivas from Princeton Properties describes the Boston rental market as "desperate." "With so many Bostonians working from home, why would anyone pay a premium to live in the city, especially if you can't take advantage of all that a Boston has to offer?" says Rivas. Prior to the pandemic's onset, Princeton Properties did not offer short-term leases. Continued market volatility and decreased demand has forced the firm to reevaluate business practices and become more flexible. They now entertain five-month leases, rather than a typical, minimum twelve-month term. Additionally, Savanna indicated that while it has become common to offer one-two months' worth of free rent, the firm is wary of creating difficult situations where aggressive concessions at the start of a lease lead to challenges for tenants when rates are normalized upon renewal when tenants are forced to move because they can no longer afford their unit. In addition to offering a free month's worth of rent, some tenants are securing a full year of free internet access. Savanna describes this as unprecedented. "I've fielded many calls from current residents who are looking to re-negotiate their leases, hoping to get in on the discount frenzy—but a lease is a lease and terms must be honored." Chicago Like so many U.S. cities, COVID-19 has wreaked havoc on the Windy City. Racial protests, political unrest, and the end of the rental season brought on by cooler weather has created an environment ripe for peak Rental Concessions. For October, Rental Concessions were up 98% YOY, as landlords and property managers work to secure tenant leases before the holidays and start of winter. In October, Chicagoans remained concerned about their long-term living options while struggling to maintain employment. Rental Inquiries for Chicago were up a whopping 214% YOY in the month. We spoke with Alex Fenton, Property Administrator at Tandem, who describes the Rental Concessions environment in Chicago as being "huge". "People are aggressively shopping for concessions, which typically include two or even three months' worth of free rent, and waived administrative fees." Fenton indicated that in exchange for aggressive concessions his firm is pushing for 18-24 month leases, in hopes of securing longer-term occupancy rates. Even current tenants are looking to get in on the concession rage. "Under certain circumstances we'll re-negotiate leases and offer specials to current tenants, but again try for longer lease terms, as well as try to have the leases end during the summer months, when it is usually easier to rent." For those signing two-year leases on penthouse units, Tandem will provide creative "move-in gifts," such as furniture items, including trendy standing desks. Alex indicated they've also introduced an incentive that includes a $750 rent credit for referrals who ultimately sign leases. Dallas/Fort Worth We are thrilled to include the Dallas/Fort Worth market in this edition of the Rental Beast Market Report. Similar to the trends seen in other urban centers, Rental Inquiries for Dallas declined 40% YOY, while Rental Concessions jumped 128%. Brandi Sakayam, District Manager at BH Management in Dallas, oversees a portfolio of primarily Class A properties; and she tells us Rental Concessions are on the rise across the entire Dallas Fort-Worth area. She indicated that one month's worth of free rent is standard for Dallas, but in some cases, landlords are waiving some or all application and administrative fees. With continued new construction in the DFW area, lease-ups will often offer four to eight weeks' worth of free rent. Sakayam said she sees a continuation of new tenants relocating from other parts of Texas, but is also seeing an increased number of families moving from California and the Northeast. While her firm is hopeful that they can pull back on Rental Concessions in 2021, they don't expect to return to anything close to normal until the second or third quarter of next year, as their occupancy rates have dipped from 95% to 93%. Olivia Taylor, General Manager of The National Residences, described Dallas as a "concessions driven market." While it's typical for properties to offer one month's worth of free rent, she's observed movement to six-eight weeks' free rent. "There is so much new construction in Dallas you can see construction cranes everywhere. Buildings are competing for tenants. I'm aware of look-and-lease deals where tenants can secure a $1,000 Visa gift card for committing to a one-year lease within 48 hours of viewing a unit." Like Brandi, Olivia is also seeing families moving to Dallas from California and Chicago, as companies like Uber, McKesson Corp., and Charles Schwab open large local offices. While Olivia is currently seeing slower traffic at her properties, she attributes that both to increasing Coronavirus cases and the onset of typical holiday-related seasonality. Los Angeles Rental Beast recently entered the Los Angeles market, and, as part of the ramping up process, we spoke with Danny Levin, Co-Founder of TDI Properties. While many urban rental markets across the country are struggling to find qualified renters, Danny said that L.A. has long suffered from a significant residential rental supply shortage. "If you have a unit that is clean and well-priced it will get rented," said Levin. While the Los Angeles rental market typically slows in November and December, Levin indicates that seasonality isn't impacting the market, and he's not seeing a barrage of Rental Concessions observed in other cities. Instead, he said that class A & B properties continue to offer one month's worth of free rent to entice tenants. Says Levin, "The pandemic has slowed the pace in which Class A & B properties in LA are rented, but they are getting rented." Miami Like Boston, Miami registered ten consecutive months of lower YOY Rental Inquiries, and during the same time period Rental Concessions have consistently overpowered 2019 rates. For October, Rental Inquiries in Miami were down 30% YOY, while Rental Concessions jumped 115%. According to the Federal Reserve Bank of St. Louis, Miami started the fourth quarter of 2020 with a 13% unemployment rate, with COVID-19 continuing to impact the service, travel, hotel and tourism industries. While many people in Miami are experiencing Covid-19 fatigue, the dramatic increase in the number of Coronavirus infections and deaths has driven South Floridians to continue to explore living options outside of Miami, as they yearn for more space to accommodate work from home situations and remote school learning. Philadelphia As we have seen for most of the year, Rental Inquiries for Philadelphia remain strong. The city logged a 86% YOY increase, while Rental Concessions declined 71%. New York City has more than 16,000 vacant apartments, and many New Yorkers leaving the Big Apple are contemplating calling Philadelphia home. While anecdotal indications paint Philly's Rental Concessions environment similarly to Atlanta and Boston, our rental data indicates a 71% YOY decline. We will continue to monitor this change to determine if this is a temporary movement or a prolonged trend. Rental Beast recently spoke with a Marketing Manager from a prominent, Philadelphia-based property management firm. This Manager described the current Rental Concessions environment as "vicious," as she believes Philadelphia has hit a peak in Rental Concession issuance. She notes two to three months' worth of free rent being consistently offered, as landlords continue to cope with the fallout from the pandemic. The same contact indicates that in a normal year "meds and eds" (medical and undergraduate and graduate students) drive high occupancy rates in Philadelphia, but this year is far from normal. She explains, "Students are studying virtually at home, and many international students are not allowed to travel and therefore do not require rental housing. While most buildings would be well leased up at this point in the year, property managers and owners are starting to panic as we head into the 'dead season' a.k.a winter months." In addition to offering two to three months' worth of free rent, our contact indicates that her firm is also offering waived amenity fees, application fees, and are offering gift card incentives to potential tenants. Waived or reduced security deposits are also available in some cases. Rental Inquiries Rental Inquiries are prospective tenants actively seeking to rent an available property in our database. Rental Inquiry volume typically follows a predictable seasonal pattern—Rental Beast data from previous years show a high volume of Rental Inquiries during the summer months, as renters hoping to move in the fall begin their apartment search. Departures from such patterns serve as powerful, quantifiable early indicators of a shift in the rental marketplace, and are more powerful predictors of future transactional activity than traditional rental information, such as average rent. Rental Beast monitors all inquiries to available listings on the Rental Beast website and listings syndicated to our partner sites including Facebook Marketplace and Realtor.com. About Rental Beast Rental Beast is a SaaS platform that simplifies the leasing process with an end-to-end platform and maintains a highly accurate database of nearly nine million off-MLS rental properties. With active listings in 22 markets across the United States, Rental Beast's Data Services Group tracks various rental trends in its markets across the nation.
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NAR Launches 'First-Time Buyer' Streaming Video Series on ROKU
Eight-part series will showcase Realtor value, also stream on YouTube and Facebook. CHICAGO (November 20, 2020) -- The National Association of Realtors® this week launched its new digital video series to over 40 million households on Roku, the No. 1 streaming TV platform in the U.S. In contrast with most real estate-themed programs, First-Time Buyer by the National Association of REALTORS® focuses on the relationship between Realtor® and homebuyer to provide viewers with a more genuine portrayal of the home buying process. "First-Time Buyer provides an up-close look at real-life home buyers, telling stories about the critical role Realtors® play in every transaction from beginning to end," said NAR President Charlie Oppler, a Realtor® from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby's International Realty. "I'm proud of the creativity and ingenuity our team showed in the creation of this program, and I'm excited about the tremendous benefits it will deliver to our 1.4 million members." First-Time Buyer's eight episodes were filmed across the Atlanta, Nashville and Phoenix metro areas. NAR partnered with Happy Street Entertainment on production, which began in February and, after delays on account of COVID-19, was completed in October with safety precautions in place. "We're showing the Realtor® value in the homebuying experience," said Alicia Bailey, NAR's director of marketing strategy and head of production, who worked alongside Happy Street Entertainment in the program's development process. "It means something to have an individual who is guided by a code of ethics taking you through one of the most complex and important processes of your life, and that's especially critical to any first-time buyer." In addition to streaming on Roku, each 15-minute episode is also available on YouTube, Facebook, and FirstTimeBuyer.realtor, which offers behind-the-scenes content and added resources about the homebuying process. By focusing on many of the hiccups that occur while buying a home, this series underscores how Realtors® support their clients through any hurdle they may – and will – face throughout the process. "It's never as smooth as it appears on other shows," said Susan Welter, NAR's vice president of creative and content strategy. First-Time Buyer is an extension of NAR's consumer advertising campaign, which has worked to highlight Realtors®' commitment to the association's Code of Ethics and the distinction it draws between Realtors® and other real estate agents. Third-party market research conducted earlier in 2020 showed that roughly 80% of viewers were more likely to use a Realtor® as a result of NAR's "That's Who We R" campaign. The National Association of Realtors® is America's largest trade association, representing 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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CoStar Group Agrees to Acquire Homesnap, a Digital Residential Real Estate Solutions Provider Used by 300,000 Agents Responsible for More Than Half of All US Residential Real Estate Sales
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15% of U.S. Consumers Experienced Housing Discrimination: Homes.com Survey
All Ethnicities and Income Levels Report Encountering Bias in Rental or Purchase Efforts NORFOLK, VA - (November 17, 2020) -- More than 15% of U.S. consumers have personally experienced housing discrimination as they attempted to rent or purchase a property, according to a new Homes.com survey of 2,000 adults. The poll comes at a time when a federal rule establishing stricter requirements to bring discrimination claims under the Fair Housing Act is being challenged by civil rights groups. Survey respondents reported encountering bias in one or more scenarios including rental applications (7%), home financing (4%), home searching with an agent (3%), home appraisals (3%) and/or other residential purchase services (3%). Of those who disclosed their racial identities, 56% of Black or African American respondents expressed that they have faced housing bias (56%), followed by biracial or multiracial respondents (45%), those of Latino or Hispanic heritage (45%), American Indians or Alaskan Natives (31%) and non-Hispanic whites (12%). The problem also spanned every income level from less than $100,000 to more than $500,000. The survey also revealed that: Two-thirds of respondents believe housing discrimination exists in their community in varying degrees, with just 33% saying it is "not common at all." The "not common" response was highest in the Northeast with 40% expressing that opinion. 60% do not know how to report Fair Housing law violations or concerns, despite the fact that one-fifth of that group indicated they had experienced housing discrimination. 30% are unfamiliar with any of six key federal housing programs including Federal Housing Administration loans, Section 8 housing vouchers, private mortgage insurance, the Truth in Lending Act, the Making Home Affordable program and the Quality Housing and Work Responsibility Act. More than half of the respondents unfamiliar with any of these programs have annual household incomes of less than $100,000 a year. 37% cited down payment assistance programs as the most useful strategy to help low-income families buy homes, followed by mortgage assistance programs (34%), home repair grants (23%), tax credits for buying homes in certain areas (21%) and housing voucher programs (17%). 31% believe the #1 hurdle to home ownership for low-income families is insufficient affordable housing, with 38% of those respondents residing in the West. Other obstacles cited included down payment costs (30%), lack of access to stable employment (16%), mortgage payment costs (15%) and not enough housing inventory (9%). 62% believe that federal housing policies should actively encourage diverse communities, highlighting the nation's growing social desire to challenge existing remnants of community segregation in favor of inclusivity and equality. "Homes.com is passionate about, and committed to, providing education and resources that champion equal access to housing for all," stated Dave Mele, President of Homes.com. "These survey insights highlight how the real estate industry can help consumers achieve their housing needs, which is why Homes.com is launching a platform to provide those resources." Earlier this year, Homes.com formed a Fair Housing work group, dedicated to understanding the history of fair housing, the current status of fair housing progress, and providing those educational resources to consumers. In the coming weeks, Homes.com will launch a dedicated resource page to provide consumers with the latest news in Fair Housing, guidance on how to submit Fair Housing concerns, information on existing programs to assist renters and buyers, and more. This is one of the first projects to reinforce Homes.com's commitment to equipping consumers in a readily accessed way. About Homes.com Homes.com offers today's demanding homebuyers, renters, and those somewhere in between a simply smarter home search with a more personalized and conversational way to find their next home. Since its launch over 25 years ago, Homes.com offers real estate professionals brand and property advertising, search engine marketing, and instant response lead generation to help them succeed online. For more information, visit Homes.com.
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NAR Announces Innovative Simulation Training to Tackle Discrimination in Real Estate
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BoomTown Announces Give Back Awards, Nominations Open
Company will award $1k to real estate professionals who are serving others and their communities in 2020, and donate $5 for each nomination to the Homes for Heroes Foundation CHARLESTON, S.C., November 18, 2020 -- BoomTown, the leading sales and marketing platform for real estate professionals, is excited to announce the inaugural BoomTown Give Back Awards, and is accepting nominations through December 11th. The awards will highlight members of the real estate community who have gone above and beyond to serve others in 2020. Three winners will receive a $1,000 prize, and BoomTown will donate five dollars to the Homes for Heroes Foundation for each nomination. "We are thrilled about the opportunity to formally show our appreciation and gratitude to real estate professionals who are going above and beyond to make a positive impact in their business and community, especially during a year that's seen so much fear and unrest," said Grier Allen, CEO & President of BoomTown. "In the spirit of giving and thanks, we are equally excited to support the wonderful work of the Homes for Heroes Foundation with every nomination we receive. The BoomTown Give Back awards celebrate the agents who are stewards within their community, put service over self, and make an impact by paying it forward." The BoomTown Give Back Awards include three categories, The Helping Hand Award for those jumping in to aid friends, family, employees, another business or the community, The Walk-The-Talk Award for those making charitable giving a part of their business, and The Creative Changemaker Award for those using their creativity to put an innovative spin on giving back. Nominations close on December 11th at 11:59pm EST, and three winners will be selected by a panel of judges from BoomTownLOVE, the company's service and outreach organization. Nominees and winners will be featured on BoomTown's social media, and receive a $1,000 prize with the option to donate the prize to an organization of each winner's choice. To learn more and submit a nomination, visit go.boomtownroi.com/boomtown-give-back-awards About BoomTown BoomTown exists to make real estate agents successful. 40k+ of the industry's top professionals trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. Capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, and a mobile app for agents on the go. BoomTown's service offerings extend far beyond technology with coaching services from peers who have catapulted their growth with the system, lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth. Founded in 2006 and headquartered in Charleston, SC, BoomTown has additional offices in Atlanta, GA, and San Francisco, CA. For more about BoomTown visit boomtownroi.com.
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Buffini & Company, NAR Announce Partnership on New '100 Days to Greatness' Educational Course
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Rent Declines Accelerate in Tech Hubs as Remote Work Prompts the Desire for More Space
Rents continue their downward spiral throughout the San Francisco Bay Area along with Manhattan, Boston, Seattle and Washington, D.C. SANTA CLARA, Calif., Nov. 13, 2020 -- Rents in the nation's tech hubs continued their descent in October, falling by one-third for a studio apartment in San Francisco year-over-year, according to the realtor.com monthly rental report released today. The report also showed that while the declines have begun to slow down nationally, renters are seeking both affordability and more space the longer they work from home. Nationally, rental growth rates are still far below where they were pre-COVID, but declines are starting to lessen. The median studio unit rent in October was $1,316, down 0.8% year-over-year. The median one-bedroom rent in October was $1,495, up 1.1% year-over-year. The median two-bedroom rent continued to increase in October. At $1,869, it was up 2.6% year-over-year, approaching its pre-COVID annual growth rate of 3.5%. "The combination of tech companies extending their work from home policies through mid-2021 or even indefinitely, and the desire for more space, especially with the weather cooling, is putting pressure on rents in the most expensive urban metros and tech hubs," said realtor.com® Chief Economist Danielle Hale®. "Just as we saw with buyers, many renters appear to be looking to escape their urban life altogether, while others are looking for more space. Nationwide, rents for two-bedroom units have begun to bounce back and if the trend continues, price growth could return to pre-COVID levels early next year." San Francisco led the nation in declines with monthly rents falling 33.3%, 26.3% and 23.4% for studio, one-bedroom and two-bedrooms units year-over-year, respectively. Rents for studios and one-bedrooms in nearby Santa Clara and San Mateo counties also saw double-digit decreases in October. Outside of the Bay Area, Manhattan, Boston, Seattle, and Washington, D.C. were among the metros seeing the largest year-over-year declines. These markets also represent some of the most expensive cities in the country, giving rents the most room to fall. In October, the median studio rent in Manhattan was $2,395, down 20.0% year-over-year, accelerating from 15.4% a month earlier. One-bedroom rents in Manhattan were $3,250, down 16.7% compared to last year, and accelerating from a decrease of 11.7% in September. Two-bedroom rents in Manhattan were $5,333 in October, down 11.1% compared to last year, accelerating from a 4.1% decline a month earlier. Top 10 markets with largest one-bedroom rent decreases in October Top 10 markets with largest two-bedroom rent decreases in October Methodology: Rental units include apartment communities as well as private rentals (condos, townhomes, single-family homes). National rents were calculated by averaging the medians of the 100 largest counties, except for studios, which were based on 94 of those counties with at least 20 studio listings. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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U.S. Properties with Foreclosure Filings on the Rise as Pandemic Remains a Threat to Economy
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The Residential Real Estate Council Launches New Education Subscription Option for Residential Real Estate Agents
CHICAGO, Nov. 4, 2020 -- The Residential Real Estate Council announced the launch of a new education subscription program that allows more residential real estate agents to benefit from the Council's premiere education. The COVID-19 pandemic is changing the way the real estate industry operates. The program is a response to varying needs of agents in receiving education that is easily consumed and readily accessible, while not lacking in value. Education is the key to success and the Council's aim is to empower ethical and efficient real estate agents at all stage so of their career. The education subscription was designed with those agents that are new to the industry in mind. The education subscription is priced at only $19.99/month. Each month residential real estate agents will enjoy: A New Live Webinar on timely topics focused on business growth Unlimited access to our award-winning magazine, The Residential Specialist Magazine, that focuses on real estate trends, best business practices, and insights for the future Access to the Council's Marketing Toolkit with tools and social assets to keep your clients and future customers informed and generate awareness To become a subscriptions member and take advantage of valuable education and resources please visit crs.com/learn/edsub. For information on membership at the Residential Real Estate Council or the CRS Designation please visit crs.com. About RRC and CRS Designation The Residential Real Estate Council is the largest not-for-profit affiliate of the National Association of REALTORS® comprised of more than 28,000 members. The Council supports its members with advanced education, business and networking support. It also awards the CRS Designation to experienced agents who have completed advanced professional training and demonstrated outstanding professional achievement in residential real estate.
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Buffini & Company Launches Second Installment of their Industry-Changing Real Estate Agent Training Program, The Pathway to Mastery--Advanced
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High Demand and Low Inventory Continue Streak of High Residential Showing Traffic in Cities and Metropolitan Areas of U.S.
Data from ShowingTime lists Seattle, Denver, Washington, D.C., Salt Lake City, Cleveland, Boston and Baltimore among the areas recording a high number of home showings in September CHICAGO - October 30, 2020 - ShowingTime, the residential real estate industry's leading showing management and market stats technology provider, found that showing traffic remained strong in large metropolitan areas, with Seattle, Denver, Washington, D.C., Salt Lake City, Boston and Baltimore recording high numbers of home showings during the month of September according to the company's Showing Index®. With low inventory and sustained buyer demand, traffic jumped 64.1 percent year-over-year nationwide. "All but one of the top 20 markets with the heaviest buyer traffic recorded double-digit showings per listing in September, well above the current U.S. average of six showings per listing," said Michael Lane, President of ShowingTime. "That number more than doubled in several markets from the same time last year, despite the pandemic." Meanwhile, some communities along the beleaguered Gulf Coast – hit hard by Hurricane Laura at the end of August and Hurricane Delta in early October – experienced year-over-year declines in showings. Nevertheless, Louisiana is tracking ahead of 2019 figures for showing activity in what has proven to be a resilient real estate market. "In September, we saw a normal seasonal slowdown of about 8 percent from August," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "Due to much lower levels of available inventory, however, showing activity is still significantly above last year's values, a situation that is likely to persist through next May." The Northeast Region saw a year-over-year increase in buyer traffic of 68.4 percent in September, marking the fourth consecutive month the region recorded the largest jump in showing activity. The West's 65.3 percent uptick followed, with the Midwest's 61.6 percent rise and the South's climb of 60.8 percent both close behind. "The showing traffic data suggests that buyers and sellers alike are undeterred from completing their real estate transactions," added Lane. "It's clear that real estate professionals have made adjustments and increased their efforts to make the most of this market." The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. The Showing Index tracks the average number of appointments received on active listings during the month. To view the full report, visit showingtime.com/showingtime-showing-index/. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.7 million active listings subscribed to its services. Its products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. Contact us at [email protected]
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Realtors Prepare to "Reset, Refocus, and Get Reinvigorated" During First-Ever Virtual Realtors Conference & Expo
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W+R Studios Announces Longest Free Trial Program in Company's History
Free access to Cloud CMA (including Homebeat and Cloud CMA Live), Cloud Streams, Cloud MLX, and Cloud Attract until February 2021. Huntington Beach, CA (October 26, 2020) - Privately held software company, W+R Studios, announced today a nationwide campaign offering their popular Cloud Agent Suite free to all real estate agents up to February 2021. Beginning October 26th, agents can get up to 3 months of free service on real estate's most popular tools. The Cloud Agent Suite includes Cloud CMA (plus Homebeat and Cloud CMA Live), Cloud Streams, Cloud MLX, and Cloud Attract. Cloud CMA helps agents generate awesome reports designed to win more listings. Homebeat allows agents to automate their Cloud CMA reports to stay top-of-mind with past clients and homeowners. Cloud CMA Live gives agents the freedom and flexibility to do their listing presentations in person or remotely and modify comps on the fly. Cloud Streams is an auto-prospecting/text listing alert tool that sends alerts faster than any other portal. Award-winning Cloud MLX is an easy search tool that allows agents to search the MLS similar to how you search Google. And last but not least, Cloud Attract creates lead generating landing pages in seconds that agents can share with their sphere of influence to generate leads. "2020 has been a challenging year and we could all use a little more love and positivity in our lives," stated W+R Studios' co-founder Greg Robertson. "So we wanted to finish it off with something big and spread some positivity by offering all our products free until February 2021" continued Mr. Robertson. "Many of our customers already get access to Cloud CMA as part of their MLS membership, but we wanted to make it easy for them to try all other products - including Homebeat and Cloud CMA Live - and see how well they all work together as part of the full Cloud Agent Suite. It's the longest free trial program we ever offered and I think in the entire real estate software industry." Cloud CMA Live is this year's free enhancement to Cloud CMA and empowers agents to win more listings with a digital and interactive listing presentation experience. Agents can add or remove comps on the fly or instantly launch a virtual meeting with built in meeting tool integrations like Zoom and Skype. "An interactive CMA has been a requested feature of Cloud CMA for many years and we were very excited to launch Cloud CMA Live this year and fill the need that agents have of hosting virtual listing presentations and adapting their CMA to the conversation in the moment." concluded Mr. Robertson. To find out more, visit cloudagentsuite.com. Product availability depends on MLS participation. The cost of the Cloud Agent Suite will be $449 annually or $99 per month after the free trial promotion ends. There are no contracts and agents can cancel or change their level of service at any time. About W+R Studios Founded in 2008, W+R Studios is a privately held web software company located in Huntington Beach, California. The company focuses on creating the next generation of web-based software solutions for the real estate industry. By providing a "less is more" approach to software design, elegant user interfaces, and using the latest in agile programming, W+R Studios' software applications are at the same time powerful, yet accessible to everyone. Co-founders Dan Woolley and Greg Robertson have over 26 years of experience each developing and marketing real estate software solutions.
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Realtor.com Survey Finds Ghosts and Goblins Don't Have Homeowners Hanging a For Sale Sign
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NAR Launches 'NAR en Espanol' Website
WASHINGTON (October 13, 2020) -- The National Association of Realtors today launched NAR en Español, a fully-Spanish sub site to the association's main webpage, nar.realtor. As its Spanish-speaking membership continues to rise at a historic pace, the group's NAR en Español initiative has since 2018 helped local and global members leverage their Realtor affiliation while facilitating various networking and educational resources for Spanish-speaking Realtors®. Most recently, a component of NAR's "Right Tools, Right Now" program has focused on ensuring local and global Spanish-speaking Realtors® and bilateral partners are aware of and have access to the resources NAR provided its members in response to the COVID-19 pandemic. "I am proud of how NAR and its affiliates have collaborated on and supported this program from the very beginning," said Alejandro Escudero, NAR's manager of global alliances and business development. "Adding content and resources in Spanish will help us increase NAR brand recognition and support amongst Realtor® members and consumers both domestically and around the world. And by ensuring many of the great resources NAR produces for its members are also available in Spanish, the NAR en Español platform will help us to continue engaging and educating our Spanish speaking stakeholders." NAR en Español maintains a significant focus on member education initiatives, last summer hosting over 300 students from 15 countries for two fully virtual Accredited Buyer Representative and Seller Representative Specialist courses, held in Spanish. "NAR is committed to elevating our members' levels of professionalism, and we know that increasing and enhancing educational opportunities is one of the best ways to get there," said NAR Vice President of Association Affairs Mabél Guzmán. "These courses are not only critical toward understanding the latest trends and changes within our industry, but also a fantastic way to build relationships and grow our Realtor® networks. In addition, much of this content will help provide a positive real estate experience for Hispanic buyers and sellers, a rapidly growing segment of our industry." Visit www.nar.realtor/nar-en-espanol to access NAR's new Spanish language webpage. "The vision that NAR's Engagement team has shown throughout the development of NAR en Español has been transformative for both our association and our industry," said Katie Johnson, general counsel and chief member experience officer at NAR. "Evolving from a simple NAR en Español Facebook page into the comprehensive collection of resources we offer to our members today, I'm so proud to see this association enhance the support we provide to this important and ever-growing segment of real estate professionals." The National Association of Realtors® is America's largest trade association, representing 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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Northeastern Housing Markets Remain Most at Risk of Economic Impact from Coronavirus Pandemic
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Chime Partners with Ylopo to Enhance Lead Generation Capabilities and Drive Better Conversion through Data Driven Technology
Best of breed solutions delivered on one powerful platform built for real estate industry PHOENIX, Oct. 06, 2020 -- Chime Technologies, an award-winning operating system for the real estate industry, today announced a strategic partnership with Ylopo, a leading provider of digital marketing technology solutions for real estate agents, teams and brokerages. The ecosystem supported by this relationship will allow real estate professionals to gain access to Ylopo's best of breed marketing and lead generation tools and Chime's complementary award-winning lead conversion tools to more effectively convert prospects into clients. Through a thoughtful and strategic integration, Chime and Ylopo are helping arm today's agents with the most comprehensive platform, built on data driven insights, to drive the bottom line. To learn more, visit HERE. Historically, the real estate industry has suffered at the hands of technology companies trying to be all things to all people. In order to be successful, agents need access to both intuitive lead generation tools and powerful CRM capabilities to identify, manage and nurture leads. Recognizing the industry gap, Chime and Ylopo have integrated their best of breed solutions to support both lead generation and lead conversion. Through this partnership, Ylopo will manage lead generation and remarketing and feed all lead intelligence (property types, neighborhoods, amenities, price, etc.) directly into the Chime CRM. Now clients will be armed with actionable intelligence they can use to better serve the buyers and sellers in their CRM and grow their business. See how it works HERE. "We are thrilled to partner with Ylopo and extend the value of our powerful platform. By combining our best in class data driven solutions, we are helping customers stay ahead of their competition, better serve their clients and grow their business," said Mike McGowan, Vice President, Sales, Chime. "We keenly understand the real estate industry and what agents and teams need to be successful" said Howard Tager, Co-Founder & CEO, Ylopo. "Partnering with Chime is a strategic opportunity to combine our innovative digital marketing technology with Chime's market leading CRM platform to give customers the best of both worlds and ensure long term success." "As the CEO of Lab Coat Agents, I often get the opportunity to test new products and when I uncover powerful technology combinations, I am eager to share for the betterment of this industry," said Tristan Ahumada, CEO, Lab Coat Agents. "One of the best CRM and marketing integrations I've seen is the Chime-Ylopo partnership. The combined platform includes a number of essential tools needed to effectively run a real estate business today including AI, DARE Ads, PPC2.0, Facebook lead ads, A Dialer, Automation, Agent App, and more." To learn more visit, HERE. About Chime Technologies Chime is an all-in-one Sales Acceleration Platform for the real estate industry headquartered in Phoenix, Arizona. Its award-winning productivity suite offers a robust set of features that help real estate professionals and teams of all sizes run and grow their business. Chime Technologies operates as a US subsidiary of Renren, Inc. (RENN). For more information, contact [email protected] or 888-682-4463, or visit www.chime.me. About Ylopo Founded in 2016, Ylopo is in business to make property marketing and agent branding fast, affordable, and easy to manage. Co-founded by Howard Tager and Juefeng Ge, the privately funded company has grown by more than 300% since launch and is responsible for an array of innovations in real estate marketing, namely the proliferation of automated, budget-conscious online advertising campaigns for Facebook. For more information, contact [email protected] or visit www.ylopo.com.
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Realtor.com Red Versus Blue Report: Blue State Americans Are Searching For Homes In Swing States; What Does That Mean For The Presidential Election?
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ShowingTime's Data Finds Home Showings Continue at a Torrid Pace, Jumping Nationwide for Fourth Consecutive Month
Residential Showings Increased 73.7 Percent Year-Over-Year in the Northeast Region, the Biggest Gain in the U.S. Chicago, IL (September 30, 2020) -- ShowingTime, the residential real estate industry's leading showing management and market stats technology provider found summer housing market ended much as it began, as buyers again turned out in droves in August, according to data from the ShowingTime Showing Index®. The 61.9 percent year-over-year increase in nationwide showing activity is the largest recorded during the current four-month surge in demand. Coupled with a lack of inventory and growing buyer demand, there was a marked increase in the average number of showings per listing. The sustained surge has reached historic heights, aided by continued adoption of virtual showings. The Northeast Region's 73.7 percent increase was the largest of the four regions tracked by the ShowingTime Showing Index®, while August showing traffic increased 61.9 percent year over year nationwide, the largest jump during the current four-month surge in activity. "The trends we've been observing the past few months have continued, with buyers competing for fewer listings," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "Normally, real estate activity begins to slow down in the late summer, but this year it peaked in July, August and into September. Only in late September did we begin seeing signs of a seasonal decline." The Northeast Region saw the largest gain for the third consecutive month, with a 73.7 percent increase in traffic. The West's 55.1 percent year-over-year increase came next, followed by the Midwest's 54.9 percent increase and the South's 51.9 percent climb. "If there was any question about the vitality of the market, August's numbers provide a definitive answer," said ShowingTime President Michael Lane. "It's gratifying to know agents, teams and offices using our services have been able to manage this historic demand." The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. The Showing Index tracks the average number of appointments received on active listings during the month. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.7 million active listings subscribed to its services. Its products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. Contact us at [email protected]
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RateMyAgent Launches an Industry-Wide Agent of the Year Awards Program
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Realtor.com Weekly Housing Report: Nearly 400,000 Fewer Homes Have Been Listed Since the Start of the Pandemic
Overall market strength shows slight improvement over last week due to the containment of natural disasters SANTA CLARA, Calif., Sept. 24, 2020 -- Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory, according to realtor.com's Weekly Housing Report for the week ending Sept. 19. As a result, home prices are accelerating at double last year's pace while homes sell 12 days faster than last year, on average. "Sellers are more reluctant to list their home given the uncertainty over the economy and the pandemic environment. Buyers on the other hand, especially hungry first timers, remain largely unfazed by the challenges, and are motivated by low mortgage rates and the fear of missing out on the right home," said Javier Vivas, director of economic research for realtor.com®. "The majority of sellers are also buyers, so even as new listings hit the market, another buyer is also added. Adding to the inventory issues, thousands of previously vacant homes, such as second homes and rentals, have been reoccupied by their owners during the pandemic, effectively taking them off the market." Number of homes on the market remains woefully behind last year Since mid-March (the beginning of the COVID pandemic), a total of 2.91 million unique properties have been put on the market for sale. This is approximately 390,000 fewer homes than the 3.30 million listed during the same period last year. As of this week, the number of homes on the market is down 39% compared to last year. With the typical seasonal slowdown approaching, relief in terms of more available homes for sale is unlikely. The number of new listings hitting the market this week was down 15% compared to last year, a slight improvement over last week's decline of 17%. The slight uptick was likely a result of having a full work week compared to the short holiday week (Labor Day), as well as better containment of wildfires on the West Coast. Home prices continued to see record breaking growth Median listing prices continued to grow at last week's record breaking pace of 11.1% year-over-year. This is more than double January 2020's price acceleration and the 19th week in a row of price acceleration. Homes are selling even faster than last week Homes are selling in 53 days, which is 12 days faster on average than this time last year, and one day faster than last week. The rapid turnover is fueling home sales, and keeping the market from stalling. With buyer demand showing no signs of cooling, homes are expected to continue flying off the market, despite a depleted supply. Housing market strengthens after last week's disasters Realtor.com® tracks the overall strength of the housing market through its proprietary Housing Market Recovery Index, which compares real-time key indicators including trends in number of searches on realtor.com®, median listing prices, the number of newly listed homes, and the time it takes to sell to January 2020, prior to the pandemic. This week, the index was 107.2 points, 1.0 point stronger than last week and 7.2 points stronger than it was pre-COVID. The slight improvement over last week can be attributed to the containment of fire and hurricane damage, which had weakened levels of supply.   About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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MoveEasy Launches Mobile App
Yes, you read that correctly. Moving just got even easier here at MoveEasy. You can now manage all of your home management tasks in one easy to navigate dashboard, making your move a breeze. For Agents Our branded experience with a white label feel puts us above the rest for all of your clients needs. Our state of the art moving concierge service is now at the touch of a button, complete with vendor and utility recommendations to make that home set up process easier than ever. We stand apart by allowing agents to create a personalized recommendation based on their location and network v. attempting to build our own. After all, who knows the area better than you, the agent. "We're not trying to build our own network of providers, we're giving agents a delivery vehicle for their network," says Venkatesh Ganapathy (CEO). We're here to help make moving feel personal during these impersonal times for you, and your client. For Movers Our main goal for you? Spending as little time prepping for your home as possible, so you can go back to doing the things you love. Homeownership is lifetime decision, and we're to help you every step of the way. No need to have a to do list handy, the MoveEasy app features reminders to keep you on track every time with the help of your designated agent. We like to keep things personal, and allow your agent to help guide your moving experience from start to finish, from finding that perfect cable company, to getting your utilities up and running. With the MoveEasy app there are no phone calls required, as you can send messages and photos directly through the app. We know what you're thinking "can this get any easier?", and the answer is yes! Utilize your Alexa at home to connect with the MoveEasy app and you won't even need to touch your phone. What are you waiting for? Download the MoveEasy app now and get started! Currently available in the App Store. To view the original post, visit the MoveEasy blog.
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Why Homesnap Pro+ Has Been Dubbed the Amazon Prime of Real Estate
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W+R Studios Co-founder Greg Robertson Releases Debut Title, 'The Art of the CMA'
New book helps real estate agents and brokers let go of fear and compete in a new world of proptech. September 10, 2020 (HUNTINGTON BEACH, CA) - Software entrepreneur, blogger and podcaster, Greg Robertson has released his first book, The Art of the CMA. A 28-year veteran of the real estate technology industry, Greg is sharing his experience of helping create real estate's most popular Comparative Market Analysis (CMA) tools including the recent Cloud CMA Live. Throughout his career, Greg has had thousands of conversations with agents and brokers nationwide on how they can leverage real estate's most versatile tool, the CMA. The CMA is powerful in that it highlights their unique knowledge to compete both offline and online in a new world dominated by ever-changing business models and huge real estate portals. "Artificial intelligence is just that, artificial, it's not real," stated author Greg Robertson. "All real estate is local, and when it comes to something as crucial as pricing a home, nothing beats the eyes, ears, and nose attached to the brain of a good real estate agent. There is far too much time and energy spent in the industry hating on real estate portals, iBuyers and new business models who are "trying to destroy us." It is only when agents let go of fear that they can clearly see what a huge opportunity this new era in real estate brings." The new book includes a forward by industry thought leader Sharran Srivatsaa and bonus content of the results of the W+R Studios' 2020 Survey of Best Practices for CMAs and Listing Presentations. For more information and to purchase the book, please visit theartofthecma.com. Bulk discounts for teams and brokers are available. About the Author Greg Robertson has been in the real estate technology industry for over 28 years. He is the co-founder of W+R Studios, a privately held software company. Greg is on the "Power 200," a list of the most influential people in real estate. He has served as a director on the Council of MLS (CMLS), an organization dedicated to improving the Multiple Listing Service industry. He publishes the popular real estate technology blog, Vendor Alley. He also hosts two podcasts, Listing Bits and Industry Relations. Greg lives in Huntington Beach, California with his wife Jennifer, their three kids, and dog Molly. About W+R Studios Founded in 2008, W+R Studios is a privately held web software company located in Huntington Beach, California. The company focuses on creating the next generation of web-based software solutions for the real estate industry. Their flagship product, Cloud CMA, part of the popular Cloud Agent Suite, is licensed to over 500,000 real estate professionals all over North America.By providing a "less is more" approach to software design, elegant user interfaces, and using the latest in agile programming, W+R Studios' software applications are at the same time powerful, yet accessible to everyone. Co-founders Dan Woolley and Greg Robertson have over 28 years of experience each developing and marketing real estate software solutions.
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Homebuyers on a $2,500 Monthly Budget Can Afford $33,000 More with Low Mortgage Rates, But Higher Home Prices Cancel Out Increase
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NAR Announces New International Language Assets Available on NAR+Photofy App
CHICAGO (September 3, 2020) -- The National Association of Realtors announced today that it is expanding the global capabilities of its collaboration with Photofy, which has allowed Realtors to personalize and share content and key messages from NAR's consumer ad campaign across the world. While NAR members have had the ability to deliver promotional social media graphics in English and Spanish, today's announcement will immediately allow Realtors to share customizable content in French, Japanese, Romanian and Portuguese. "NAR is fortunate to have the scale, resources and member support to back a national advertising campaign that exemplifies who Realtors® are and the value they bring to a transaction," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. "And as we work to ensure our members can maximize the campaign to make their businesses more successful, we're excited that Realtors® will be able to utilize this new international language feature to share messages with countless potential clients in America and across the globe." NAR members will now be able to share over 100 customizable and static assets in dozens of additional countries, many of which represent the locations where the highest number of Realtors® do business. With more than 100 partner associations currently operating in 85 countries, NAR's Global team has focused on developing initiatives that strengthen international partnerships and generate additional visibility for members around the world. "The NAR Global team's tireless work building connections and communicating with partner associations across the globe ensures we are providing every possible resource to our International Realtor® Members," said Katie Johnson, general counsel and chief member experience officer at NAR. "New assets like these create engagement with members in dozens of nations and who speak these languages, allowing them to reach across international borders, discover new clients and generate new business opportunities." Realtors® are encouraged to personalize and share these and other "That's Who We R" campaign assets on their social media accounts. More information can be found on NAR's international language assets page or by visiting signup.photofy.com/nar to create a Photofy account and gain access to campaign assets. Today's announcement comes as the "NAR en Español" initiative is growing to extend services to Spanish-speaking members, both domestically and abroad. NAR expects to make new announcements surrounding this program in the coming months. The National Association of Realtors® is America's largest trade association, representing 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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Real estate agent survey reveals how home builders can increase sales
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Historic Jump in Showing Activity Seen Nationwide as July Home Buyer Traffic Surges 60.7 Percent
Buyer Demand Continues to Outstrip Supply Following Third Consecutive Month of Increasing Showing Traffic August 26, 2020 - Home buyer traffic jumped again in July, recording a 60.7 percent year-over-year increase in nationwide showing activity according to data from the ShowingTime Showing Index®. It marked the third consecutive month of growing foot traffic in all four U.S. regions, a sign of the continued resilience of the U.S. residential real estate market and sustained buyer demand. The latest data from ShowingTime also reveal continued adoption of virtual showings, as the number of listings set up to allow both in-person and virtual appointments increased 28 percent in July. "Multiple existing trends continued and were amplified in July as buyers competed for a dwindling supply of homes, pushing the level of competition and prices higher across all major regions of the U.S.," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "Part of the imbalance can be attributed to the fact that potential sellers are not yet seeing the latest negotiated selling prices, which usually come out with a one-to-two-month delay. "In previous years, July would be the month when real estate activity begins to slow down," Cherkasskiy said. "In 2020, July became the peak month of the delayed busy season. A glimpse at August trends also suggests that demand is staying at this high level and may continue to do so through at least September." For the second consecutive month, the Northeast saw the most significant boost in year over year activity, with a 76.6 percent increase. The West followed, with a 56.7 percent jump, while the Midwest recorded a 52.1 percent increase and the South saw a 46.7 percent uptick. "All indications point to sustained growth in buyer demand, and we're committed to helping agents meet it," said ShowingTime President Michael Lane. "The rate of agent adoption of ShowingTime LIVE Video continues to increase, which demonstrates its utility as a valuable tool to keep showings going when in-person showings aren't possible." The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services, providing a benchmark to track buyer demand. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Localized MLS indices are also generated for select markets and are distributed to MLS and association leadership. To view the full report, visit showingtime.com/showingtime-showing-index/. About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.7 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers, agents and other real estate companies, as well as a recruiting tool for brokers. ShowingTime products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
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West Coast, Best Coast, No More?
Millennials trade glitz and glam of downtown for affordability and more space to raise a family; West Coast is absent from annual Hottest ZIPs ranking SANTA CLARA, Calif., Aug. 18, 2020 -- East Coast markets flexed their dominance while West Coast markets failed to make the cut in realtor.com's 2020 Hottest ZIP Codes released today. In its sixth annual report, millennials continue to migrate away from the nation's urban centers in search of affordable housing and space to raise a family. The 2020 hottest ZIP codes in America, in rank order, are: 80911 Colorado Springs, Colo.; 43068 Reynoldsburg, Ohio; 14617 Rochester, N.Y.; 02176 Melrose, Mass.; 04106 South Portland, Maine; 66614 Topeka, Kan.; 03051 Hudson, N.H.; 01602 Worcester, Mass.; 22152 Springfield, Va.; and 27604 Raleigh, N.C. Among this year's top 10 hottest markets in America, a few consistent factors are driving their popularity, including: easy access to both downtown amenities and outdoor space, relative affordability with a strong local economy, and a large number of millennial homebuyers. Homes in this year's hottest ZIPs sell in an average of 18 days, 51 days faster than the rest of the country and 27 days faster than their respective metros, on average. Realtor.com® users view homes in these markets 4.3 times more often than homes in the rest of the country and 2.2 times more often than in their respective metro areas, on average. These housing markets are also 29% less dense (households per sq. mile) than the nation's top 50 largest metros. "This year's hottest ZIP codes lean noticeably toward the East Coast. Nothing west of the Rocky Mountains made the list," according to realtor.com® Chief Economist Danielle Hale. "But when you view the list through the lens of affordability, the picture becomes more clear. As the largest generation in U.S. history continues to advance toward life milestones -- settling down, marriage, parenthood -- the need for space and affordable housing outshines the bright lights in expensive urban areas like New York or Los Angeles. While we've seen millennials moving in this direction for a few years now, all the extra time at home spent trying to work, learn, and play in response to the pandemic has heightened these preferences, and put the trend toward extra space and affordability on fast-forward." East Coast dominates hottest ZIPs Half of this year's hottest ZIPs reside in the Northeast, including Rochester, Melrose, South Portland, Hudson, and Worcester. Demand for these markets was driven by a lack of affordability in nearby larger urban cores such as New York and Boston where prices have sky-rocketed and increased space is a luxury many can't afford. Further south, but still along the East Coast, are Springfield and Raleigh. Although many of these markets were hit by the COVID-19 pandemic first, they were also some of the first to recover, which allowed buyers to come out in force to make up for lost time during the typical spring home buying season. Pent up demand has helped catapult these markets to the top of the list where homes are flying off the market 3.4 times faster than the average home. Millennials attracted by affordability As millennials continue to seek more bang for their buck, demand is sparking up in smaller, less dense markets where housing is more affordable and being a millennial homeowner is more than just a pipe dream. In fact, the average millennial homeownership rate in this year's hottest ZIPs is 53%, compared to 43% for the rest of the country. In part, this is because millennials are thriving in these areas. The average household income for millennials in the hottest ZIPs is $82,011, 27% greater than the national median of $64,670. Millennials in these markets aren't only doing well compared to millennials in other areas, they are doing well compared to other generations as well, including Baby Boomers. In each of the 10 hottest ZIPs, millennials make up the greatest share of mortgage originations. The average share of originations for millennials is 38% in the hottest ZIPs, compared to 27% for 35 to 44 year olds. 2020 Hottest ZIP Codes in America 1) 80911, Colorado Springs, Colo. -- ZIP 80911 is located on the southern edge of Colorado Springs and about 1.5 hours from Denver. The area is known for its great weather with over 300 days of sunshine a year, easy access to the outdoors such as Garden of the Gods Park, and vibrant downtown including a robust art scene. The area is also home to the brand new United States Olympic & Paralympic Museum, which just opened in July. This area offers residents a great quality of life including affordable homes, especially compared to nearby Denver, and strong schools such as Martin Luther King Jr Elementary School (GreatSchools rating 8/10). Last year, ZIP 80916, also located in Colorado Springs, was ranked No. 10 overall. Housing Stats: Homes in ZIP 80911 spend an average of 13 days on market, 20 days less than the Colorado Springs metro on a whole and 58 days less than the national median. The median listing price is $287,000, up 6.5% year-over-year, but 39% lower than the metro and 13% lower than the national median. Seventy-seven percent of residents in ZIP 80911 are homeowners and millennial homeownership is 62%. 2) 43068, Reynoldsburg, Ohio -- ZIP 43068 is located less than a 30-minute drive to the east of Columbus, Ohio. The area attracts young and growing families with its quiet suburban feel while still having easy access to downtown Columbus and all it has to offer. The area boasts a strong school system including Reynoldsburg High School, which is rated a 9/10 by GreatSchools. Additionally, with its close proximity to The Ohio State University, the area keeps a youthful vibe with lots to do, all within a short drive. For those not wanting to head into Columbus, Reynoldsburg offers residents plenty of dining and shopping choices in its revitalized downtown. Seventy percent of residents live within one mile of downtown Main Street. Housing Stats: Homes in ZIP 43068 spend an average of 17 days on market, 28 days less than the Columbus metro and 52 days less than U.S. The median priced home is $204,000, 37% less than the metro and 38% less than the national median. Fifty-six percent of residents in this ZIP are homeowners and millennial homeownership is 38%. 3) 14617 Rochester, N.Y. -- ZIP 14617 is located along the Genesee River and southern shore of Lake Ontario. The area's massive revitalization, especially along the riverfront, has boosted its popularity with young millennials who want to take advantage of downtown's amenities including boutique shopping and great restaurants. Rochester is New York's third largest metro area and includes a blend of history and innovation. The area is also drawing young families with its strong school system including Iroquois Middle School (GreatSchools rating 8/10). Rochester is no stranger to realtor.com®'s Hottest ZIPs list, last year ZIP 1460 ranked No. 5. Housing stats: Homes in ZIP 14617 sell in an average of 18 days, 26 days faster than the Rochester metro as a whole and 51 days faster than the national median. The median listing price is $162,000, up 16.6% year-over-year, but 35% lower than the metro and 51% lower than the national median. Eighty percent of residents in this ZIP are homeowners and millennial homeownership is 82%. 4) 02176 Melrose, Mass. -- ZIP 02176 is located just 10 miles north of Boston. The area boasts a historic downtown, desirable school system which includes Horace Mann Elementary School (GreatSchools rating 9/10) and easy access to public transportation. The town attracts many young families who are looking for more space but still want to enjoy a quick commute to Boston. Locals enjoy boating and stand-up paddle boarding on nearby Spot Pond, the downtown with its boutique shops and restaurants and easy access to green space including the Fells Reservation with great hiking trails. Melrose is a veteran on the Hottest ZIPs list, it ranked No. 7 in 2019. Housing stats: Homes in Melrose sell in an average of 19 days, 26 days faster than the metro and 50 days faster than the national median. The median listing price is $644,000, 2% higher than the metro and 95% higher than the national median. Sixty-three percent of residents in this ZIP are homeowners and millennial homeownership is 46%. 5) 04106 South Portland, Maine -- ZIP 04106 is located on scenic Casco Bay and is part of South Portland. It offers a slightly more affordable option compared to the city of Portland, while still being close to downtown and its world-class restaurants. South Portland is a short drive from Portland Head, Maine's oldest and the country's most-photographed lighthouse. They don't call it "vacationland" for nothing -- South Portland also boasts beautiful beaches, miles of rocky coastline, friendly atmosphere and the ability to walk almost anywhere. The community attracts a lot of families and people looking to escape bigger cities like Boston and New York. Housing stats: Homes in ZIP 04106 spend an average of 21 days on the market, seven days more than last year, but 38 days less than the Portland metro overall. The median list price is $377,000 up 4.2% year-over-year. Asking prices are 9% lower than the metro overall, but 14% higher than the U.S. median. Fifty seven percent of residents in this ZIP are homeowners and millennial homeownership rate is 36%. 6) 66614 Topeka, Kan. -- ZIP 66614 is located on the western side of Topeka, the state capital of Kansas. The area is known for the landmark U.S. Supreme Court case Brown v. Board of Education that declared segregation in public schools to be unconstitutional. While government, healthcare and education are some of the ZIP's largest employers, Topeka is home to a number of manufacturing and distribution centers, including Target, Frito-Lay Inc, Mars Chocolate and Goodyear Tire. In particular, ZIP 66614 is attracting both move up and first-time home buyers with its affordability and close proximity to the area's new shopping and entertainment as well as easy access to Kansas City that is within an hour's drive. Housing stats: Homes in ZIP 66614 sell in 19 days on average, 19 days faster than the metro and 50 days faster than the national median. The median listing price is $184,000, 14% more than the metro, but 44% lower than the national median. Sixty-two percent of residents in the ZIP are homeowners and millennial homeownership is 45%. 7) 03051 Hudson, N.H. -- ZIP 03051 is located in Hudson, N.H., less than an hour north of Boston. Many families looking to escape the busy Boston area head just over the border to the quiet area. Known as "tax-free" New Hampshire, locals enjoy a lower cost of living with no state income or sales tax. Nestled along the Merrimack River, Hudson offers lots of space with easy access to major freeways that lead to the lakes region, skiing or the seacoast. Visitors and locals with a taste for adrenaline enjoy checking out the local indoor skydiving and surfing facility, as well as outdoor activities like hiking, biking and snowmobiling. Housing stats: Homes in ZIP 03051 sell in 22 days on average, 22 days faster than the metro and 46 days faster than the national median. The median listing price is $350,000, 12% lower than metro as a whole. Seventy-eight percent of residents in this ZIP are homeowners and millennial homeownership is 33%. 8) 01602 Worcester, Mass. -- ZIP code 01602 is located on the western side of Worcester, just an hour outside of Boston. It's known for its historic homes, culturally diverse population and highly rated schools, such as Midland Street and West Tatnuck, both rated 8/10 by GreatSchools. Worcester State University is located in the heart of the ZIP and is one of the largest employers in the area, along with Becker College and Worcester Polytechnic Institute. Worcester is a hot spot for families and retirees looking for three or four bedroom homes, but increasing home prices have pushed it out of reach for many first time home buyers. Housing stats: Homes in Worcester spend an average 21 days on market, 31 days less than the metro as a whole and 48 days less than the national median. The median listing price is $318,000, 14% lower than metro as a whole and 4% lower than the national median. Sixty-three percent of residents in this ZIP are homeowners and millennial homeownership is 50%. 9) 22152 Springfield, Va. -- ZIP 22152 is located just inland of the Potomac River, while offering easy access for those working in and around Fort Belvoir, Pentagon City, Arlington, Alexandria, Va., D.C., and National Landing, the home of the new Amazon headquarters. This ZIP offers a mix of townhomes and single-family homes that provide options for both first-time and move-up buyers as well as considerable green space with Pohick Creek Stream Valley Park to the east and Lake Accotink Park to the north. The highly rated West Springfield High School (GreatSchools rating of 8/10), recently redeveloped Springfield Town Center and close proximity to Burke Town Center and Kingstowne are big draws for buyers to the area. Housing stats: Homes in ZIP 22152 sell in an average of seven days, 32 days faster than the metro area and 62 days faster than the national median. The median listing price is $553,000, 8% higher than the rest of the metro and 68% higher than the national median. Eighty percent of residents in this ZIP are homeowners and millennial homeownership is 66%. 10) 27604 Raleigh, N.C. -- ZIP 27604 is located on the north side of Raleigh and reaches all the way into downtown. The area boasts a high quality of living due to its affordability, and that helps draw many buyers from more expensive cities. Raleigh offers its residents all the amenities that come with a large city, but with a small town vibe and plenty of Southern hospitality. Buyers looking to move to the area will have to pledge their allegiance to one of the many incredible local basketball programs that include Duke University, North Carolina State University, and the University of North Carolina at Chapel Hill. Housing stats: Homes in this ZIP sell in an average of 25 days, 32 days faster than the metro as a whole and 44 days faster than the national median. The median listing price is $273,000, 27% lower than the metro and 17% lower than the national median. Fifty-four percent of residents in this ZIP are homeowners and millennial homeownership is 42%. Methodology Realtor.com® analyzed 20,000 ZIP codes based on the time it takes properties to sell and how frequently homes are viewed in each ZIP code from April-June 20, 2020. Eligible ZIP codes had at least 13 active listings each month to calculate a Hotness ranking. Limited to one ZIP code per metropolitan area. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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Real Estate Agents, Teams Get Access to Delta Media's Best CRM Platform for the First Time
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Urban Rental Markets Show Signs of Cooling
Rental Inquiries drop dramatically in most surveyed markets August 18, 2020 -- Rental Beast is a SaaS platform that simplifies the leasing process with an end-to-end platform and maintains a highly-accurate updated database of over eight million off-MLS rental properties. With active listings in 17 markets across the United States, and 10 additional markets opening within the next 60 days, Rental Beast's Data Services Group tracks various rental trends in its markets across the nation. Renters typically intensify apartment searches during summer months, and landlords expect an increase in showings and price hikes as demand soars. However, as the COVID-19 pandemic continues, Rental Beast's July 2020 data reflects a cooling in the rental market. In this report, we evaluate exclusive data from five major U.S. cities: Atlanta, Boston, Chicago, Miami, and Philadelphia. We track year-over-year (YOY) changes in Rental Inquiries and Rental Concessions in each city to gain a picture of market conditions. Rental Inquiries Rental Inquiries are prospective tenants actively seeking to rent an available property in our database. Rental Inquiry volume typically follows a predictable seasonal pattern—Rental Beast data from previous years show a high volume of Rental Inquiries during the summer months, as renters hoping to move in the fall begin their apartment search. Departures from such patterns serve as powerful, quantifiable early indicators of a shift in the rental marketplace, and are more powerful predictors of future transactional activity than traditional rental information, such as average rent. Rental Beast monitors all inquiries to available listings on the Rental Beast website and listings syndicated to our partner sites including Facebook Marketplace and Realtor.com. In July, Rental Inquiries were down YOY in four out of five markets surveyed. Boston, Miami, Atlanta, and Philadelphia all recorded significant YOY declines, and Chicago registered the only YOY increase: July represents the seventh consecutive month that Boston and Miami reported negative YOY Rental Inquiry rates—down 74% and 72%, respectively. As COVID-19 continues to force more people to work from home and reconsider their professional and personal priorities, city-center living becomes increasingly unappealing to renters. In July, Atlanta reported a 50% decline, continuing the city's nearly year-long trend of negative YOY Rental Inquiries. Industry leader, JP & Associates REALTORS® recently opened a string of fast-growing brokerages in the Atlanta area. Owner and Managing Partner of JP & Associates REALTORS® Metro Atlanta, Christopher Schlitz—a real estate veteran, having launched his career in Atlanta in 1991—commented on recent Rental Inquiry trends. Schlitz suggests that a recent spike in interest for large suburban homes from Atlanta-based apartment renters likely drove the year-to-date decrease in Rental Inquiries for Atlanta. Philadelphia registered a YOY drop of 5.7% in July. This decline marks the end of Philadelphia's upward trending Rental Inquiries. For a third consecutive month, Chicago registered positive YOY Rental Inquiries—a 5.6% YOY gain for July. In reaction to Chicago's July Rental Inquiry data, Kenneth Hawkins, Rental Beast's General Manager for the firm's Chicago Office, explains, "So many people expected the pandemic to be over with by now. Chicagoans are anxious to get back to some sort of normalcy and contemplating new living arrangements is part of that process." Hawkins continues, "While some renters plan to relocate out of the city, others are pursuing different living options within city limits." Rental Concessions Rental Concessions are compromises landlords make to original rent terms in the hope of filling a vacancy more quickly. Rental Concessions can include monetary compensation, a discount, or various goods and services. For July, Rental Concessions dropped in Chicago, Philadelphia, Miami, and Atlanta. Only Boston registered a YOY increase: Despite continued uncertainty surrounding rent moratoriums and the efficacy of supplemental unemployment benefits, landlords slowed the pace of Rental Concessions. July saw the following YOY declines: Chicago (-90%), Philadelphia (-86%), Miami (-83%), and Atlanta (-44%). In the months directly following increased lockdown orders—March, April, and May—many cities recorded double and triple-digit YOY increases in Rental Concessions. July's declines may reflect a temporary reprieve rather than a permanent reversal of this trend. Rental Beast's Hawkins suggests, "Many of the landlords who have consistently offered Rental Concessions since the pandemic's onset have now reached a point where they can no longer afford to do so without putting their property investments in jeopardy." Schlitz suggests that Atlanta's decline in Rental Concessions may be attributed to the pressure on families to finalize their living arrangements in advance of Atlanta schools' August 12th opening date. Due to this urgency to secure a new home, property owners are less incentivized to offer Rental Concessions. JP & Associates continues to monitor trends as the group expands rapidly in the Georgia and Florida area. For the fifth month in a row, Boston landlords utilized Rental Concessions to minimize vacancies. In July, Boston reported a 28% YOY increase in Rental Concessions, down from a 105% YOY increase in June. Throughout the month of July, many Boston landlords have been preparing properties for student move-ins under strict and expensive cleaning protocols and adjusting amenities to a new reality for student housing. During the summer months, many Boston-based colleges and universities announced plans to hold exclusively, or majority, online classes. While Boston can anticipate fewer students relocating to attend school, it is likely that a decrease in overall rental demand will be partially offset as on campus dorms de-densify. In response to these developments, Ishay Grinberg, Rental Beast's founder and CEO, says, "COVID-19 is a healthcare crisis that impacts every aspect of people's lives. As uncertainty continues, landlords are forced to make difficult choices with potentially long-term financial consequences. By continuing to offer Rental Concessions, property owners are clearly opting for a short-term but prudent loss in order to protect their property assets." About Rental Beast Rental Beast is a SaaS platform dedicated to simplifying every part of the leasing processes for real estate agents, landlords, and tenants. Rental Beast offers its users exclusive access to the nation's most comprehensive and accurate rental database, powerful communication and marketing tools to acquire and retain clients, and a secure and fast online application engine. We tackle the notoriously challenging leasing market and help landlords and agents build lasting relationships with many American renters.
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People Are Searching in the Suburbs More Than Ever Before
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ActivePipe Unveils Real Estate Content
New feature bridges gap between property marketing and content marketing Austin, TX - ActivePipe, the nation's leading email marketing solution for real estate companies and teams, announced today the rollout of Real Estate Content, a new feature that allows users to automate genuine content experiences within their email marketing campaigns. This feature is available now to current users following an extensive Q1-Q2 beta testing trial of rookie and veteran agents. "The Launch of Real Estate Content couldn't be timed better to coincide with Smart Match," says ActivePipe CRO Mike Feller. "With Real Estate Content, ActivePipe users can now take advantage of content marketing inside of their emails. We know that not everyone in agents' networks are looking to buy or sell their home, but with this feature, you can remain top-of-mind with current news, home design and renovation tips that are helpful, engaging and informative, so when they are ready to buy or sell, they know you're the one to call." Real Estate Content launches on the heels of ActivePipe's acquisition of HomePrezzo, the Australia-based presentation and content creation software that will help power Real Estate Content. HomePrezzo's tools, among many others, offer the ability to produce dynamic landing pages for agents, also. For agents choosing to utilize Real Estate Content, an option to be redirected to a personalized landing page is included. Real Estate Content reimagines content marketing by persona, ensuring each contact receives content matched to their personal interest no matter where they are in the property buying or selling process. Real Estate Content's blogs even help infer buying or selling intentions. This passive marketing technique gives you more information about your prospects making your personal outreach even more effective. Pre-built Customer Journeys are enhanced with clickable, agent-branded content, precisely catered to provide the right information to help move prospects closer to their goals while keeping you front of mind as the expert they need to complete a smooth transaction. ActivePipe's Real Estate Content library will deliver new pieces of data-driven content for agents. At launch, the library currently holds 100 original content marketing pieces for agents to choose from. Users can have content automatically inserted into their emails based on tags and categories assigned to their contacts. Through ActivePipe's proprietary AI system, user profiles are generated based on several categories and tags (i.e.: upsizer, downsizer, empty-nester, etc.) Agents and brokers are able to leverage ActivePipe to effectively lead their networks down a path of intention that results in more home sales. "ActivePipe developers are constantly looking for ways to save real estate agents time and money," Feller says. "However, the places we see opportunity to grow in the email marketing space are the same places agents are experiencing frustration. Our focus is to mitigate that frustration by listening to our users, many of whom were tired of sharing the same content to their networks. Real Estate Content saves time and brings more value to your email campaigns." About ActivePipe ActivePipe helps real estate agents to know which prospects to call next, based on their behaviour with your content. Cut through the noise and make easier calls by focusing on the topics your prospects are engaging with. It allows you to get your marketing done in minutes with a smooth, drag and drop email builder and pre-built customer journeys to set your business up for optimal conversions. Help your team get back to basics and never miss an opportunity.
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AerialSphere Launches Next-Gen Mapping Technology to Change How Consumers Experience Real Estate
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Rental Beast and Liberty Mutual Insurance Partner to Increase Access to Affordable Renter's Insurance
Rental Beast's renters and landlords now enjoy easy access to free rental insurance quotes and discounted rental insurance rates. SOMERVILLE, MA, AUGUST 6, 2020 -- Rental Beast, the only fully integrated SaaS platform for rentals with a comprehensive database of over eight million rental listings nationwide, announced a new partnership with leading insurance provider Liberty Mutual Insurance. Liberty Mutual will offer Rental Beast's renters free, no–obligation rental insurance quotes. Through this partnership, renters could have Renter's Insurance for as low as $5 a month*. Together, the two companies will increase the awareness of rental insurance and its accessibility. As landlords upload listings onto the Rental Beast search portal, they may now select rental insurance as a requirement for applicants. As renters use Rental Beast's online application engine, they can access free Liberty Mutual renter's insurance quotes that will remain valid for thirty days. "We've chosen Liberty Mutual Insurance as our preferred renter's insurance provider because Liberty Mutual is relentlessly dedicated to its customers," said Ishay Grinberg, founder and CEO of Rental Beast. "This partnership means renters can now achieve a full and accurate understanding of their living expenses, and landlords can take one more step to safeguard their investment. We're pleased to make affordable renter's insurance more accessible while giving Liberty Mutual access to eager renters early in the decision-making process." The partnership advances Rental Beast's goal of simplifying the rental market and offering landlords—in particular, small landlords—the tools they need to have a successful rental investment. Rental Beast adds this offering to its suite of free tools for landlords, including rental listing services, a tenant screening service, and online rent collection. About Rental Beast Rental Beast is an end-to-end SaaS platform empowering real estate professionals with powerful productivity tools and the nation's most comprehensive database of over eight million off-MLS rental properties. Sourced directly from property owners, updated in real time, and offering a fulfillment-grade rental dataset, the Rental Beast database provides real estate professionals with an unparalleled view of all properties and owner types. For more information, visit rentalbeast.com. *Coverage provided and underwritten by Liberty Mutual Insurance Company or its subsidiaries or affiliates. Discounts and savings are available where state laws and regulations allow and may vary by state. Certain discounts apply to specific coverages only. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify.
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iGUIDE Partners with Floorplanner to Make Virtual Space Planning Easier and More Efficient
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Urban Land Institute Launches New Online Offering to Make Real Estate Careers More Accessible
New Foundations in Real Estate Curriculum Aims to Broaden and Diversify the Real Estate Industry WASHINGTON (August 6, 2020) -- The Urban Land Institute today announced the launch of its new online learning curriculum, Foundations of Real Estate (FoRE), a key part of the Institute's efforts to identify, diversify, and broaden the pool of young people interested in a real estate career. ULI is a global, multidisciplinary real estate organization whose work is driven by more than 45,000 members dedicated to responsible land use and building thriving communities. FoRE, which debuted at Colgate University during the 2019–2020 academic year, is designed to provide students not pursuing business studies with real estate fundamentals in an easily digestible format that is accessible, convenient, and that can be completed on an individually determined basis. The curriculum consists of five modules: Foundations of the Development Process; Foundations of Pro Forma Modeling; Foundations of Commercial Real Estate (with a specific focus on multifamily and office sector valuation); Foundations of Real Estate Finance and Investment; and Introduction to the Foundations of Real Estate. Upon completion of all the modules, participants receive a FoRE certificate confirming that they have finished the course successfully and have a basic understanding of the industry. The online curriculum can be accompanied by in-person training from real estate executives who are alumni of FoRE's higher education institution partners and are supplementing the program with their own content, knowledge, and industry experiences, which exemplifies the Institute's longstanding tradition of knowledge sharing "The goal of assembling this curriculum was to place interested and committed students in a position to learn enough so that when they enter the marketplace they can be competitive for an entry-level position, as opposed to starting from scratch. This benefits both the students and companies that hire them," said ULI global chief executive officer W. Edward Walter. "So often, the way people get into real estate is because one of their parents or relatives was in the business. FoRE gives us the opportunity to broaden the number and the diversity of people who might be interested in real estate and show them that it involves much more than merely selling properties, that they could pursue investment, development, or other aspects of the industry." FoRE was made possible with a generous gift to the ULI Foundation from Foundation Chairman Doug Abbey, who is also chairman of Swift Real Estate Partners in San Francisco. "The opportunity to create communities that are more diverse, equitable, and inclusive, through a real estate career, is a timely message and mission that can be delivered through FoRE," said Abbey. "ULI is committed to maximizing the role of philanthropy in affecting deep and meaningful change at a time in the Institute's and the country's history when issues like equitability and inclusiveness have emerged as necessary and game-changing concerns and considerations." The program is being expanded to additional colleges and universities in the United States during the 2020–2021 academic year; ULI hopes to have the FoRE curriculum available at 100 institutions within five years. An emphasis will be placed on offering the program at historically Black colleges and universities (HBCUs), including four in 2020–2021. This is one part of ULI's efforts to attract more people of color to the industry and the Institute. Read more about ULI's work on Diversity, Equity and Inclusion. The Urban Land Institute is a nonprofit education and research institute supported by its members. Its mission is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Established in 1936, the institute has more than 46,000 members worldwide representing all aspects of land use and development disciplines.
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ReferralExchange Selected to Join NAR's REALTOR Benefits Program
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COVID-19 Impacts Homebuyer Preferences But Not Budgets: Homes.com Survey
Over 40% Seek Different Features, 80% Have Same or Increased Price Range Norfolk, VA (July 29, 2020) -- The COVID-19 pandemic has changed many of the features desired by U.S. homebuyers and increased the dependence on virtual tours; however, it has had little impact on homebuying budgets, according to a Homes.com survey of over 1,000 consumers who have purchased a home during the coronavirus outbreak or plan to purchase before the end of the year. Fully 80% of survey respondents reported that their homebuying budgets had either remained the same or increased since the start of the pandemic, indicating that consumers remain committed to investing in homeownership despite possible anxiety over the challenging economic conditions caused by the pandemic. Overall, 35- to 44-year-olds were the most likely to report a decrease in their budgets, but the impact varied by geography. Most of the respondents who did lower their price targets in the Western states were Generation Z (18-24) buyers, while those in the Northeast were in the Millennial and Generation X age range (24-44). The survey also found that: Over 40% of respondents have changed the features they want in a home because of COVID-19, including adding a home office (30%), larger square footage (27%), enclosed backyard (27%) and/or closed floor plan (15%) to their wish list. These shifts may reflect the realities of today's work-from-home and e-learning needs. Over half of respondents planning to purchase a home before the end of the year have used virtual tours in their search, with roughly one-third having viewed 1-3 homes and one-fourth viewing 11+ homes through virtual tools. One-third of those who have purchased in the last four months utilized these live video tours or virtual open houses. More people indicated they were moving because they wanted a less populated area (16%) than moving for a job (14%), retirement (11%), or wanting a better school system for their children (8%). The most common reason for moving was the need to upsize for a growing family (25%). 37% of respondents have purchased in the last four months and 44% plan to purchase before the end of the year, demonstrating that homeownership remains a strong imperative even during the pandemic. 33% of those who have purchased or plan to purchase a home are aged 18-34, supporting earlier Homes.com surveys indicating that Gen Z is highly committed to early homeownership. Overall, the largest number of buyers or potential buyers (40%) are located in the South, with the rest split between the Midwest (25%), West (22%) and Northeast (13%). 51% are looking for existing single-family detached homes, followed by new construction single-family detached (20%), condominium (14%) and townhouse (11%). "The pandemic has changed what 'home' means for many families and how they search for them," said Homes.com president David Mele. "Even in the midst of those changes, our survey confirms that consumer commitment to homeownership remains the same." More information about the Homes.com 2020 Consumer Homebuyer survey can be found at https://go.homes/COVID19Buyers About Homes.com Homes.com offers today's demanding homebuyers, renters, and those somewhere in between a simply smarter home search with a more personalized and conversational way to find their next home. Since its launch over 25 years ago, Homes.com offers real estate professionals brand and property advertising, search engine marketing, and instant response lead generation to help them succeed online. For more information, visit Homes.com.
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Remote Work to Drive Home Purchase Decisions in the Next Six Months
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W+R Studios announces results of inaugural '2020 Survey of Best Practices for CMAs and Listing Presentations'
With over 3,300 respondents, the survey touches fundamental questions on Comparative Market Analysis (CMA) creation, and the future of listing presentations in a post COVID-19 era. July 28, 2020 (HUNTINGTON BEACH, CA) - W+R Studios, a leading real estate software company, and creators of Cloud CMA, announced today the completion of a nationwide survey of real estate agents and brokers. Survey participants spanned 46 states and included 3,325 agents and brokers. The company plans to run the survey annually going forward. "Any agent creating a comparative market analysis wonders whether they are 'doing it right' or is curious about what other agents include or don't include in their CMA. This survey gives agents an inside peek at the best practices of what goes into creating a winning CMA," stated Frances Wiseman, Director of Marketing for W+R Studios. The survey ran during the current global pandemic from May 18th to May 31st. Agents were also asked about the virtualization of listing presentations and the relevance of CMAs in the future. "The goal of this survey was to dig deep and get answers to many questions a working agent may be curious about, such as how many comps are too many for a CMA? But it also seeks to bring light to the best practices of agents when doing a listing presentation," stated W+R Studios co-founder Greg Robertson. "At W+R Studios, our goal with Cloud CMA is to make agents look awesome in front of their clients. We hope to help move the entire industry forward with these survey results. We would like to thank the thousands of agents who participated in this survey and helped make that happen," concluded Mr. Robertson. You can find more information and a link to the survey by visiting: cloudagentsuite.com/blog About W+R Studios Founded in 2008, W+R Studios is a privately held web software company located in Huntington Beach, California. The company focuses on creating the next generation of web-based software solutions for the real estate industry. By providing a "less is more" approach to software design, elegant user interfaces, and using the latest in agile programming, W+R Studios' software applications are at the same time powerful, yet accessible to everyone. Co-founders Dan Woolley and Greg Robertson have over 27 years of experience each developing and marketing real estate software solutions.
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Nationwide Surge in June Home Buyer Activity Continues Historic Turnaround, with Agents Seeing a 50 Percent Increase in Showings per Listing
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Realtor.com Now Gives You Options to Sell Your Home, Your Way
Seller's Marketplace launches with information about selling options from Opendoor, EasyKnock, HomeGo, WeBuyHouses.com and listing on the open market SANTA CLARA, Calif., July 23, 2020 -- With more home selling options available than ever before, knowing where to start can be a challenge. Realtor.com's new Seller's Marketplace empowers homeowners to sell their home their way and allows them to compare information side-by-side and choose the option that works best for their situation. At launch, consumers can determine availability and be connected with Opendoor, EasyKnock, HomeGo and WeBuyHouses.com, with more options coming soon. Realtor.com® is the only national home search site to compare different selling options and enable consumers to determine the right fit with just a few clicks. Users simply provide basic information about their home and Seller's Marketplace will present them with available options in their area. Homeowners will see side-by-side estimates for sale price, timeline and more with no upfront cost or commitment. iBuying and sale-leaseback programs provide flexible alternatives for consumers looking to move quickly, get fast access to home equity or sell a home in need of TLC without having to do updates. Realtor.com® connects consumers with companies who specialize in these areas and allows homeowners to weigh factors including estimated time-to-cash and potential profit. "Seller's Marketplace is a one-stop shop for home selling information, resources and connections," said David Masters, director of product management at realtor.com®. "Rather than become an iBuyer ourselves, realtor.com® aims to be a trusted and unbiased source that points consumers in the right direction and enables them to make the right decisions for their home and their family." Seller's Marketplace educates people on several different selling scenarios including instant offers, sale-leaseback programs and listing the home on the open market. At launch, options include: Sell Now via an instant offer with Opendoor Sell Now, Move later with EasyKnock Sell Now in Any Condition with HomeGo or WeBuyHouses.com List on the open market with an agent "Even as retail, grocery, and financial services have gone digital, the real estate transaction has remained mostly offline," said Tom Willerer, Chief Product Officer at Opendoor. "With a simple idea to give consumers the freedom to move on their own terms, we've created a digital experience that removes the hassles of buying and selling a home. And now, when a homeowner visits realtor.com to start their selling journey, they can request an offer from Opendoor, realtor.com®'s iBuyer partner as an alternative to selling their home on the open market. We're looking forward to working with realtor.com to provide a fully digital, safe and hassle-free selling experience for even more homeowners." Seller's Marketplace is now available at realtor.com/sell/sellers-marketplace. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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Homebuying 2020: Buyers Intent on Finding a Three-Bedroom, Two-Bath House with a Garage and Remodeled Kitchen
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Cherre and Rental Beast Announce Partnership to Integrate National Rental Listings into Real Estate Data Platform
NEW YORK, July 21, 2020 -- Cherre, the NYC-based real estate data and analytics platform, today announced a new data partnership with Rental Beast, the only fully integrated SaaS platform in the real estate market with a comprehensive listing database of over eight million rentals nationwide. By joining Cherre's growing Data Partner Network, mutual customers will be able to easily incorporate rental listing data into Cherre's platform for a comprehensive view of markets and properties under consideration. Rental Beast is a SaaS platform that simplifies the rental market and empowers brokerages and agents with powerful productivity tools and the nation's most comprehensive rental database. By offering real estate professionals access to more than eight million off-MLS rental properties, Rental Beast is the source of truth for rental market data. "Rental Beast seeks to bring unparalleled transparency to the rental market, and we're very excited to join forces with Cherre to provide businesses with the most accurate, comprehensive housing data available," said Ishay Grinberg, founder and CEO of Rental Beast. "Together, Rental Beast and Cherre allow businesses to get the full picture of the market—from individual homes, to mom-and-pop rentals and multifamily properties. We believe this partnership will offer tremendous value to all data consumers." Cherre, the leader in real estate data and insight, connects decision makers to accurate property and market information, helping them make faster, smarter decisions. With Cherre, customers can evaluate opportunities and trends faster and more accurately, while saving millions of dollars in manual data collection and analytics costs. "Rental listings are an important aspect of overall housing data," said L.D. Salmanson, CEO and Co-Founder of Cherre. "By partnering with Rental Beast, mutual customers will be able to easily analyze rental data alongside other key datasets to evaluate markets and properties, and to make more strategic decisions." About Rental Beast Rental Beast is an end-to-end SaaS platform empowering real estate professionals with powerful productivity tools and the nation's most comprehensive database of over eight million off-MLS rental properties. Sourced directly from property owners, updated in real time, and offering a fulfillment-grade rental dataset, the Rental Beast database provides real estate professionals with an unparalleled view of all properties and owner types. About Cherre Cherre is the leader in real estate data and insight. We connect decision makers to accurate property and market information, and help them make faster, smarter decisions. By providing a unique "single source of truth," Cherre empowers customers to evaluate opportunities and trends faster and more accurately, while saving millions of dollars in manual data collection and analytics costs. Cherre launched in 2016 and is located in New York City.
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NAR, NAHB Partner to Educate Consumers, Members on Home Performance, Sustainability
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DocuSign Continues Agreement Cloud Expansion with Liveoak Technologies Acquisition
Deal to accelerate delivery of solutions for remote online notary and other "assisted agreements" SAN FRANCISCO, July 7, 2020 -- Amid increasing demand for solutions that enable the remote completion of agreements that traditionally required in-person contact, DocuSign today announced its acquisition of Austin-based startup, Liveoak Technologies, for $38 million in an all-stock transaction. The news builds on the companies' existing partnership, where DocuSign eSignature is integrated with Liveoak's secure agreement-collaboration platform. Liveoak uses web-based videoconferencing, rich collaboration features, identity verification and other tools to help complete an auditable transaction remotely—and it counts some of the world's largest financial institutions as customers. DocuSign plans to leverage Liveoak's technology and expertise to accelerate the launch of DocuSign Notary, a new product in the Agreement Cloud suite that focuses on remote online notarization (RON)—where audio-visual technology is used to complete a notarial act when the signers and the notary public are in different places. Slated for early-access availability later this summer, DocuSign Notary will enable notarized transactions via video—something increasingly supported by U.S. states' legislatures and executive orders. DocuSign Notary will also augment the company's existing eNotary offering, which enables a notary public to act as an in-person witness to the electronic signing of documents. As part of today's news, DocuSign will continue to offer Liveoak's platform for remotely completing other "assisted agreements"—such as account openings or virtual inspections—that require in-person facilitation and an audit trail. "DocuSign is practically synonymous with the electronic completion of agreements from almost anywhere, on almost any device," said DocuSign COO, Scott Olrich. "But there is an important class of high-value agreements that require the live participation of a notary or other representative. With this acquisition, we intend to bring the DocuSign experience to those agreements too—so signers and those assisting can get business done no matter where they are." "Given the state of technology today, people often wonder why they still need to sign any document in-person—and the pandemic has only exacerbated this concern," said Liveoak CEO, Tim Ramza. "We've been working to solve this very issue for years, and we've had a strong partnership with DocuSign as a result. By joining forces and fully integrating our solutions now, we can bring the ease and simplicity of DocuSign to the execution of notarized and other complex assisted agreements." For more information, visit docusign.com or liveoak.net. About DocuSign DocuSign helps organizations connect and automate how they prepare, sign, act on, and manage agreements. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature: the world's #1 way to sign electronically on practically any device, from almost anywhere, at any time. Today, more than 500,000 customers and hundreds of millions of users in over 180 countries use DocuSign to accelerate the process of doing business and to simplify people's lives. For more information, visit www.docusign.com
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Planitar Adds Free Feature to Help Agents Conduct Virtual Showings
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Realtor.com Weekly Recovery Report: Record Breaking Traffic Signals Summer Buying Season is Here
But buyers continue to face significant headwinds of record-low inventory SANTA CLARA, Calif., July 9, 2020 -- Summer home buying season is off to a roaring start. As buyers flooded into the market, realtor.com monthly traffic hit an all-time high of 86 million unique users in June 2020, breaking May's record of 85 million unique users. Realtor.com® daily traffic also hit its highest level ever of 7 million unique users on June 25, signaling that despite the global pandemic buyers are ready to make a purchase. The realtor.com® Housing Market Recovery Index reached 97.8 nationwide for the week ending July 4, posting the largest weekly increase since the index was introduced. The week's 2.1 point increase over the prior week brings the index just 2.2 points below the pre-COVID baseline. However, supply remains the biggest factor slowing the recovery; total listings remain 31 percent lower than last year and more listings will need to enter the market for sustained improvement in home sales. "The consistent, record-level homebuyer interest we've detected on realtor.com® over the last five weeks is setting up the tightest summer homebuying season on record," said Javier Vivas, director of economic research for realtor.com®. "All-time low mortgage rates and easing job losses have boosted buyer confidence back to pre-pandemic levels. With supply at record lows , the backlog of demand portends increased competition and a seller's market in the weeks ahead. While buyers are back, growth in home sales this summer will be constrained by the slow return of sellers and the limited amount of homes hitting the market. Key Findings: Local Recovery: Regionally, the West (index 104.4) continues to lead the recovery with the overall index now visibly above the pre-COVID benchmark. The Northeast (index 102.1) also surpassed the recovery baseline last week, and continues to improve. The South (index 96.4) and Midwest (index 95.4) are still lagging but are now back on a steady recovery path. Locally, an additional two markets have crossed the recovery benchmark this week, taking the total number of markets above the January baseline to 14, the highest since the early pandemic period. The overall recovery index is showing greatest recovery in Boston, San Francisco, Denver, Philadelphia, and Los Angeles, with growth in demand and the pace of sales surpassing pre-COVID benchmarks. Total inventory was down 31 percent. The number of homes for sale dropped over last week again even though new listings are improving. More home buyers are taking advantage of low mortgage rates and putting a dent in inventory. New listings are down 4 percent. Fourth of July celebrations falling on a weekend as opposed to midweek boosted the natural pace of new listings. However, we expect the improvement to return to last week's level next week. More sellers will need to enter the market to see sustained improvement during this summer. Median listing prices continue growing at 6.2 percent over last year, faster than the pre-COVID pace. Time on market is now just three days slower than last year as the still-limited number of homes for sale forces buyers to make faster decisions than in the early pandemic period. The market is picking up speed given the surge in buyers but still limited in home sellers. Realtor.com® Recovery Index by Metro Weekly listings data Weekly Recovery index data Methodology: The Weekly Housing Index leverages a weighted average of realtor.com® search traffic, median list prices, new listings, and median time on market and compares it to the January 2020 market trend, as a baseline for pre-COVID market growth. The overall index is set to 100 in this baseline period. The higher a market's index value, the higher its recovery and vice versa. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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ATTOM Data Solutions Acquires Home Junction, Continuing the Company's Data and Application Expansion
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Chime Technologies and Dippidi Partner to Help Real Estate Teams Attract and Convert Leads
Integrated solution drives opportunities at every stage of the sales funnel from lead generation to conversion PHOENIX, June 29, 2020 -- Chime Technologies, an award-winning operating system for the real estate industry, today announced a new strategic partnership with Dippidi, a done-for-you content marketing and social media ad agency. By combining Chime's platform with Dippidi's custom marketing strategies, real estate agents, teams, and brokerages can stop spending time chasing leads and attract the business they want. To learn more visit learn.chime.me/dippidi or register for our upcoming webinar on Tuesday, July 7th HERE. As the volatility of the market continues to wreak havoc on the real estate industry, the opportunity for agents and teams to build brand awareness and establish trust among potential buyers has never been more essential. And yet, for many realtors, finding the time and the right suite of tools to do so effectively is a real struggle. "The upheaval in the market has forced many to rethink how they are approaching their business and where they need to invest and prioritize in order to survive," noted Mike McGowan of Chime. "By expanding our partner network with organizations like Dippidi that uniquely understand the demands agents and brokerages are facing today, we can offer clients a one-stop-shop with proven solutions designed to usher in immediate revenue opportunities." Dippidi serves an in-house marketing team for realtors, creating custom marketing plans curated to entice more people and sign more clients. From listing promotions to blog posts, articles to social media campaigns, Dippidi's digital services give agents the confidence to know their marketing services are being handled professionally and consistently. By aligning with Chime to push potential clients further through the sales cycle, agents, teams, and brokerages can streamline their process and drive sales ready leads toward conversion. "I rely on Dippidi to build our awareness in the market and generate great leads – and they have delivered! But our business is not built on leads alone; the ability to convert them into signed contracts is critical. The Chime relationship will allow us to do it all with the industry's top solution," noted Michael Hines of Build Collective in Cincinnati, Ohio. "Our goal is to help our clients build their brand and their business. That includes leveraging the technology and web platforms realtors already have in place to maximize existing investments," said Tyler Auerbacher, co-founder of Dippidi. "We are excited to partner with Chime to offer clients an amazing ‘1-2' punch as we provide the fuel to fill the sales funnel and Chime provides the engine to convert them into leads." To learn more visit, learn.chime.me/dippidi. About Chime Technologies Chime is an all-in-one Sales Acceleration Platform for the real estate industry headquartered in Phoenix, Arizona. Its award-winning productivity suite offers a robust set of features that help real estate professionals and teams of all sizes run and grow their business. Chime Technologies operates as a US subsidiary of Renren, Inc. (RENN). For more information, contact [email protected] or 888-682-4463, or visit www.chime.me.
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Delta Media Group Launches SMS Texting in DeltaNET 6
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IXACT Contact Announces New Set of Leading-Edge Agent Website Designs
Toronto, ON, June 26, 2020 -- IXACT Contact has rolled out the release of brand-new website designs for real estate agents. With social distancing regulations in effect, agents can focus more on virtually growing their business and focusing on their online presence, all starting with a personalized website. "During this time, we realize it can be overwhelming for real estate agents to grow their business, while following safety precautions," says Rich Gaasenbeek, CRO and Co-Founder of IXACT Contact. "Having your own branded agent website is one of the best marketing decisions you can make for your real estate business. Our release of fresh and modern website designs will help all agents, whether you are just creating your own website or you have one already, but wish to revive it." With the ever-changing trends in the industry, IXACT Contact's mobile-friendly, new website designs feature modern-style layouts, fonts and colors, carousel banner images, larger agent photos, and MLS listings with optional IDX add-on, featured more prominently right on agents' websites. This extensive list of new features also includes existing personalized aspects of IXACT Contact's agent websites, which include a 16-pages of content that consists of a customizable blog, lead-capture call-outs, and links to agents' social media accounts, for more effective lead capture and agent branding. "The nature of real estate is very competitive," states Gaasenbeek. "As an agent, you always want to make sure you stand out from the rest. What better way to do this than launch your very own agent website to help you build your personal brand? IXACT Contact's new website themes are modern and beautifully designed to sell your brand, position you as an industry leader, and display all the key aspects of what you have to offer. This is a far better alternative to the expensive 'lead-gen' website that some agents may have been paying too much for and hasn't delivered based on what the vendor has promised. Agents cannot afford to waste more money and that is why IXACT Contact is here to help." Agents looking to create their own IXACT Contact-powered website can simply create one within minutes. IXACT Contact's customer support team may also provide assistance for those looking to launch their own customizable IXACT Contact website. It is also a quick and seamless process for agents and brokers with an existing IXACT Contact website, whom are looking to upgrade to one of IXACT Contact's new website themes. Agents will be able to select a new website theme and easily integrate their existing branding, content, and data into a fresh new website. To see IXACT Contact's newest website themes, click here. About IXACT Contact IXACT Contact is a next-generation real estate CRM that gives agents all the tools they need to manage their contact information, keep in touch communications, active business, and online presence. All in a single, easy-to-use solution. Best of all, with its unique marketing automation and "set it and forget it" capabilities, IXACT Contact acts like a personal assistant, helping agents save time, be better organized, keep in touch with past clients, nurture and convert leads into listings, and generate more referrals and repeat business.
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Amidst Health, Safety Concerns, NAR's 2020 REALTORS Conference and Expo Goes Virtual
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Homesnap Launches Access, a New Payment Service Powered by eCommission
BETHESDA, Md., June 22, 2020 -- Homesnap, the market-leading national home search platform that provides a mobile productivity tool for agents and real-time MLS data to consumers, today launched a new payment option for real estate agents called Access™ powered by eCommission, the leading provider of working capital to real estate professionals. Access allows real estate agents to pay for Homesnap products using future commissions as an alternative to cash or a credit card. Real estate agents often need access to cash flow to pay for various products and services prior to a sale closing. Access creates a direct integration between eCommission and Homesnap that empowers agents to pay for Homesnap marketing products and additional offerings using one of their active listings. Access is: Flexible – Agents can access up to $500 of their commission on any property with at least 90 days remaining in the listing term. Easy – Funds are sent directly from Access to Homesnap to cover an agent's marketing investment, with the agent paying nothing upfront. Convenient – Homesnap and eCommission have integrated in order to make the process seamless. Agents can select their listing when buying products and services in Homesnap and complete the process in eCommission without having to fill out any additional fields. Affordable – Ordinarily, there is a 10% fee that is added directly onto a Homesnap order, and that fee is automatically paid when a sale closes. Recognizing the challenges agents are facing today due to COVID-19, Homesnap and eCommission have made Access free for the first 90 days, with no added fees. Homesnap makes it easy for agents to market themselves and their listings across the top social and search platforms like Facebook and Google. With Access, agents can now maintain their marketing presence with flexible payment options. "Now more than ever, it is crucial for real estate agents to maintain their digital presence," said John Mazur, Homesnap CEO. "At Homesnap, we're supporting agents by giving them the tools they need to not only stay relevant, but to also market their listings and be ready for when things return to normal. With Access, agents can leverage the power of their future earned commission today and stay ahead of their competition." To initiate this new feature, agents simply select the listing they would like to use wherever they see Access as a payment method for a Homesnap product. Agents are then redirected to eCommission to confirm transaction details and complete funding. eCommission then sends payment for the products and services purchased directly to Homesnap. If the selected property does not sell within 90 days, agents have the option to replace the transaction and repay using commission proceeds from any future sale. "We are thrilled to launch Access with Homesnap," said Sean Whaling, eCommission Founder and CEO. "We understand the stressors brought on by COVID-19, which is why Access gives agents the ultimate flexibility to pay for Homesnap marketing products and additional offerings using future commissions. It's a revolutionary service that in many ways is superior to credit cards because no debt is created, funds are transferred instantly, and repayment happens effortlessly once the property closes. Waiving the fee for 90 days should also help agents get their listings sold faster." Access will initially be available as a payment option for a selection of Homesnap's marketing products and will soon be available for all of Homesnap's offerings. Homesnap is continuing to roll out new features and tools throughout 2020 that help agents provide better client services and connect with prospects in actionable, tangible ways. For more information visit www.homesnap.com. About Homesnap With easy-to-use mobile technology fueled by unmatched, real-time data intelligence, Homesnap is changing the way real estate agents connect with consumers and serve their clients. Homesnap combines people, property and data with enterprise-grade software for real estate professionals to run and grow their business at every stage of the real estate transaction. The industry-endorsed Homesnap platform leverages AI, machine learning and big data from over 500 data sources and over 230 MLSs to provide more than one million U.S. agents with access to powerful mobile software that automates workflow and optimizes the search and sell experience for their clients. With the Homesnap mobile app, the highest rated consumer home search application; Homesnap Pro, the industry-standard mobile business platform for agents; and the Homesnap national home search portal, a joint venture with the industry-backed Broker Public Portal, the integrated Homesnap platform is transforming the real estate business. More information can be found at www.homesnap.com. About eCommission eCommission is the company that operates Access. eCommission is the leading provider of working capital to real estate professionals since 1999, with more than $1.4 billion of commissions funded to satisfied customers nationwide. eCommission is a nationally endorsed alliance partner to the industry's largest real estate brands, independent brokerages and technology companies. More information can be found at www.eCommission.com.
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High Volume Render Editor Disrupting the Property Development Market
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Kristi Kennelly Joins RateMyAgent
Shared commitment to help real estate agents leverage their hard earned reputation makes this union a perfect fit. SAN DIEGO, June 18, 2020 -- RateMyAgent, an agent review and digital marketing platform for real estate professionals to generate, aggregate, and syndicate client reviews, today announced that Kristi Kennelly has joined the company as a product ambassador. As a key member of the marketing team, Kristi will help agents become product-smart through virtual events, training and a delightful onboarding experience. "When we launched in the U.S., we made a commitment to hire the best in the industry," said Mark Armstrong, co-founder and chief executive officer of RateMyAgent. "Kristi brings showmanship, a strong work ethic and the perfect skill-set needed to ensure we deliver a delightful experience from onboarding to becoming an actively engaged, loyal customer ." A former Broadway performer (she played opposite Matthew Broderick in How to Succeed in Business without Really Trying and Rumpleteazer in CATS), Kristi combines practical real estate marketing knowledge with a dose of humility and entertainment. Instead of flying on the stage as Peter Pan, she will be teaching agents how to help their businesses take flight. She's educated agents nationwide as a professional speaker in online marketing, lead generation, lead conversion, video marketing, social media and how to harness the power of customer reviews. "RateMyAgent delivers the right product at the exact right time," said Kristi Kennelly, product ambassador for RateMyAgent. "I was looking for a team where I could harness my passion and purpose to help real estate agents build their dream businesses by amplifying their reputations. I believe I've found that with this group and am ready to help agents become undisruptable." Savvy agents understand the power of third-party validation and social proof. Therefore, client reviews are a critical component of any digital strategy. From ranking in search to establishing professional credibility, RateMyAgent simplifies the process and maximizes reach across all digital platforms such as social media, ad networks, and websites. Agents can focus their effort on delivering incredible consumer experiences and allow the automated platform to ensure transparency for future clients. RateMyAgent is endorsed by the 2019 REACH program by the National Association of Realtors®. About RateMyAgent RateMyAgent is an Australia-based review platform now expanding rapidly in the United States. In Australia, RateMyAgent is used by agents who sell 80% of property across Australia and get reviews for 1 in 3 homes sold nationally. RateMyAgent launched in the United States in 2018 and has partnerships with MLS's from Florida to California, including CRMLS, the country's largest MLS. They are the first review platform to be included in NAR's REACH Accelerator Program. RateMyAgent is listed on the Australian stock exchange. More information about RateMyAgent can be found at www.ratemyagent.com
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Live Open Houses Are Now Available on Homesnap for iOS and Android
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Live Video Showings: The Next Best Thing to Being There
ShowingTime LIVE Video is Real Estate’s First All-in-One Showing and Video Platform, Enabling Agents to Bring Buyers into Homes Virtually Using the ShowingTime Mobile App for an Authentic Showing Experience CHICAGO -- June 15, 2020 -- Real estate technology firm ShowingTime, whose systems facilitate more than five million home showings each month across North America, has launched the real estate industry’s first all-in-one live video showing platform within its mobile app to give agents an interactive solution to bring clients into homes: ShowingTime LIVE Video. Integrated with its scheduling platform and currently available to 32,000+ agents in select MLSs with nationwide availability in June, ShowingTime LIVE Video equips agents and their clients to take part in live video showings without needing to download additional apps, providing an authentic showing experience. "Having the tools to set up and host video showings from one common platform makes sense," said Triad MLS Chief Executive Officer Richard Renton. "Our members already use ShowingTime to schedule appointments, so it’s another step forward to equip them with this option. We anticipate they’ll want to take advantage of ShowingTime LIVE Video." Following the introduction of a "virtual showing" option within its showing management products in early April, ShowingTime has seen tens of thousands of showings conducted virtually. The company anticipates that those numbers will increase dramatically with ShowingTime LIVE Video. "Since it first became clear that COVID-19 would have an impact on real estate, we’ve been dedicating as many resources as possible to help agents operate effectively," said ShowingTime President Michael Lane. "Stay-at-home orders are forcing agents to seek out creative ways to show homes to buyers. We developed ShowingTime LIVE Video to make their jobs easier.” Unlike photos or 3D tours, live video showings enable two-way communication so serious buyers can ask questions and see the parts of the home they’re most interested in. Once a video showing appointment is confirmed, the agent visits the listing at the scheduled time and conducts the tour while their client participates from home. “From the same familiar system agents use to schedule showings, they simply tap the 'Join LIVE Video Showing' button in the ShowingTime mobile app to start the appointment for their clients. A live, one-on-one showing experience is as close to an in-person showing as they can get," Lane said. Video showings conducted using ShowingTime LIVE Video offer the same opportunities for engagement on the part of prospective buyers that they’d have with in-person showings, he added. "We’re excited about ShowingTime LIVE Video," said Global MLS Chief Executive Officer Laura Burns. "Making this new tool available to our members will help them continue serving clients as New York State works through the phases of operating and social distancing requirements for real estate services." ShowingTime has rapidly rolled out several product enhancements in response to the COVID-19 pandemic and subsequent shelter-in-place restrictions enacted throughout the U.S. and Canada. Along with the introduction of ShowingTime LIVE Video, the company has been providing daily updates on the impact of COVID-19 on showings – nationwide and in most states/provinces – which can be accessed at showingtime.com/impact-of-coronavirus/. Since late April, showing activity has continued an impressive turnaround after an historic spring collapse, led in part by loosening restrictions and an increasing rate of adoption of technology, with more and more agents conducting showings virtually. Twenty-nine of the 44 states and provinces tracked by ShowingTime’s COVID-19 tracker have exceeded their showing traffic numbers from pre-pandemic peaks in March. About ShowingTime ShowingTime is the residential real estate industry’s leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers and other real estate companies, as well as recruiting tools for brokers. ShowingTime products are used in more than 370 MLSs representing nearly one million real estate professionals across the U.S. and Canada.
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Realtor.com Launches Weekly Housing Recovery Index
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Homesnap Launches Homesnap Concierge
Homesnap Concierge, a brand-new product from Homesnap, is a fully managed advertising platform and lead qualification service that delivers better leads at a lower cost than Zillow Premier Agent and realtor.com. What makes Concierge different? Highly trafficked sites like Facebook, Google, and Instagram are ideal for generating large volumes of high-quality leads cost-effectively. The problem is, finding and qualifying those leads is a difficult and labor-intensive process. If you've run campaigns on these sites before, you know the frustrations all too well, and you may have turned to expensive alternatives like Zillow Premier Agent and realtor.com to save yourself time and aggravation. Homesnap set out to solve this problem. After more than a year of research and development, our digital marketing experts worked out the best combination of networks, ad types, designs, and content types to serve hyper-targeted and personalized ads to relevant buyers and sellers. The result is a product that gives agents access to more high-quality leads than Zillow and realtor.com without the hassle — or the premium price tag. With Homesnap Concierge, agents no longer have to choose between their time and their money. How does it work? Each month, our dedicated and experienced Concierge marketing team will optimize and run your advertising campaigns for an unlimited number of listings on Facebook, Google, and Instagram. We'll target the most-likely-to-transact leads on those platforms with hyper-targeted and personalized ads and qualify them for you. Then, we'll send you the qualified, hot leads right away, and continue to nurture the rest until they are ready to convert. You'll have full transparency into the process. We'll share key metrics — number of leads processed, lead contact information, qualification details, all leads acquired, and more — so you can follow us every step of the way. Just watch the leads roll in and get back to what's important: working with your clients. Why Concierge? Highly Qualified Leads Concierge collects hundreds of leads and takes care of the hardest part: separating those who are ready to buy or sell from those who need to be nurtured. We'll send you the qualified leads right away, and continue to nurture the rest. No work on your end. Better and Cheaper Results Zillow's Premier Agent runs in at an average cost of $1,200 a month for a one-year, locked-in contract — a nearly $15,000-a-year commitment. Homesnap Concierge starts at a fraction of the monthly price and requires no long-term contract. Agents can commit to Concierge for as short as one month. Promotes Your Brand First Have you advertised on Zillow or realtor.com only to feel like those companies are primarily interested in promoting their brand, not yours? At Homesnap, that will never be the case. We succeed when agents succeed, and all your advertisements will feature you — and only you. Access to a best-in-class lead qualification team, digital marketing experts and machine learning Homesnap's digital marketing experts run thousands of campaigns at any given time, and they are constantly iterating on what works and what does not. Concierge gives agents access to this experienced, best-in-class marketing team, and campaigns are managed by real humans who are experts in the digital advertising space. Additionally, our digital marketing experts are supported by our in-house machine learning algorithms, built upon thousands of real estate industry data points. Using this technology, actual artificial intelligence, we look for signals — signs that a buyer or seller is ready to transact — that a human being might miss. Fully Managed Campaigns for Unlimited Listings Concierge gives agents all the benefits of professionally tested advertising techniques, customization, and automation, so they never have to worry about tedium or timing again — all that's required is a two-minute setup. Co-Market with Lenders By co-marketing with Concierge, agents can strengthen their relationship with a preferred lender and save on advertising costs while doing it. Concierge allows you to split your monthly advertising costs with the lender of your choice. Only lenders an agent co-markets with will be advertised with the agent or listings. Ready to get better leads for less? Give Concierge a try. Or schedule a meeting with our sales team to learn more. To view the original post, visit the Homesnap blog.
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Homes.com Launches New Agent Profile Page
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Key Housing Indicators Begin to Turn Around in May
Data shows new listings and asking price trends strengthen after bottoming out in April SANTA CLARA, Calif., June 4, 2020 -- The U.S. housing market likely reached its low point during mid-April with constrained new inventory and minimal price growth. Signs of recovery emerged in late April and strengthened in May, setting the stage for continued growth over the summer, according to realtor.com®'s May Monthly Housing Trends report issued today. The data show the national median listing price hit a new all-time high of $330,000 in May, despite rising just 1.6 percent year-over-year. This price growth was an improvement over April's 0.6 percent year-over-year growth which was the slowest pace in the past three years. Additionally, the weekly progression of data showed that price growth and new inventory trends improved. The median list price began the month up 1.4 percent and strengthened throughout the month, increasing 3.1 percent during the last week of May. New listings were down 29.1 percent the week ending May 9, but recovered to down 22.9 percent by the week of May 30. While still well-below last year's levels, the rate of decline in newly listed properties has improved dramatically from a drop of 44.1 percent year-over-year in April to down 29.4 percent in May. Despite these positive trends, COVID-related challenges linger; homes were on the market 15 days longer than this time last year. "May's home price data demonstrate the underlying strength of the U.S. housing market despite the challenges brought by the COVID-19 pandemic," said realtor.com® Chief Economist Danielle Hale. "The fact that home prices are at an all-time high shows that the momentum the market had prior to the pandemic has helped to keep buyer and seller expectations stable. Ongoing inventory shortages, that continue to worsen, also push home prices higher even while homes sell more slowly." "As a sense of normalcy returns, we expect to see a shortened, but strong summer home selling season, as long as seller confidence continues to improve and more homes are listed for sale," Hale added. Listing Prices Hit New High Despite COVID-19 Thirty-five of the nation's top 50 metros saw the median listing price grow on a year-over-year basis, up from 30 metros in April. Based on this trend, listing prices could reach new highs throughout the summer home buying season when prices typically see their yearly seasonal peak. Los Angeles-Long Beach-Anaheim, Calif. (+14.9 percent), Pittsburgh, Pa. (+14.0 percent); and Cincinnati, Ohio-Ky.-Ind. (+12.1 percent); posted the highest year-over-year median list price growth in May. The steepest price declines were seen in Detroit-Warren-Dearborn, Mich. (-3.4 percent); San Antonio-New Braunfels, Texas (-3.2 percent); and Seattle-Tacoma-Bellevue, Wash. (-3.1 percent). For-Sale Homes Still in Short Supply, but New Listings Trend Improves National inventory continued to be constrained, down nearly 20 percent over last year, as seller reactions to COVID-19 exaggerated the housing market's already insufficient supply of homes. At the same time, the month of May ended with an improvement in the new listings trend--smaller declines--in 45 of the 50 largest U.S. markets compared to last month. This signals that sellers are starting to return to the marketplace, which is needed to restore inventory levels for healthy market conditions. Within the nation's 50 largest metros, inventory declined by 21.9 percent year-over-year, a greater rate than April's 16 percent decline. The metros which saw the largest declines in inventory were largely those hardest hit by COVID-19 along the East Coast, including: Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. (-38.6 percent); Providence-Warwick, R.I.-Mass. (-35.8 percent); and Baltimore-Columbia-Towson, Md. (-34.5 percent). This month, none of the largest 50 metros saw an inventory increase on a year-over-year basis and 43 out of the 50 saw greater yearly inventory declines than last month. COVID-19 Extends Days on Market Homes continue to sell more slowly than last year due to stay at home orders and modified behavior resulting from COVID-19. The typical home is now selling in 71 days, which is more than two weeks slower than last year. Within the nation's 50 largest metros, the typical home sold in 58 days, 13 days more slowly, on average, compared to last year. Among the largest metropolitan areas, homes in areas hit hardest by COVID-19 saw the greatest increase in time spent on the market, including: Buffalo-Cheektowaga-Niagara Falls, N.Y. (+34 days); Pittsburgh, Pa. (+33 days); and Detroit-Warren-Dearborn-Mich. (+32 days). Metros With Largest Decline in New Listings EDITOR'S NOTE: The realtor.com economics team is continually tracking the impact of the coronavirus pandemic on the U.S. economy and housing market. The team's reports and analysis are available here. About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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Homes.com Traffic Trends Point to Emerging Recovery
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SentriLock to Provide Showing Service for REALTORS
SentriKey Showing Service will be the most advanced integrated solution in showing service space. West Chester, Ohio. (June 2, 2020) -- SentriLock, LLC, a leading technology company and provider of property access management solutions to real estate and other industries, will introduce a comprehensive showing service to REALTORS® in late Summer 2020. The optional, premium offering, called SentriKey Showing Service, will provide a smart, effective alternative to services currently available. Real estate professionals will be able to schedule and manage showings, manage their client roster, share listings and market trends with clients, view property details and notifications, open the lockbox, and much more. All functions can be performed using the same easy-to-use mobile app from SentriLock that agents currently use to open lockboxes. "This is a natural extension of what our organization was founded to do – provide effective technology solutions and superb service to members of the National Association of REALTORS® (NAR)," said Scott Fisher, founder and CEO of SentriLock. "We have seen the choice in providers offering showing scheduling service products consolidate to the point that REALTOR® Associations and MLSs have few alternatives to provide their members with a high-quality, competitively priced showing service. SentriKey Showing Service fills that gap and offers features that make doing business easier and give agents more time in their busy schedules. Just as we did very successfully in the lockbox space 18 years ago, we will create strong competition that ensures NAR members get the best value and innovation from their technology providers, while keeping the proceeds from those business activities supporting REALTORS®." SentriLock's Chief Technology Officer, Chuck Shroder, further emphasized why the company is launching the new showing service. "For some time now, we have been asked by our customers to consider adding a showing service that integrates with our lockbox system. As we focus on enhancing REALTOR® productivity, a single, integrated system makes sense. And this direction has also expanded some capabilities of our existing lockbox service that can be leveraged by other third parties to create a great customer experience. So, even if they are not a subscriber to our SentriKey Showing Service, our interoperability allows them to take advantage of added value through the work we've done here." The SentriKey™ Showing Service will be available in late Summer 2020. For more information, visit the company's showing service page at sentrilock.com/showing-service, or contact Devin Beck, Director of Revenue, at [email protected] About SentriLock Founded in 2002, SentriLock LLC is a wholly owned subsidiary of the National Association of REALTORS® (NAR) and its Official Lockbox Solution. The company's primary mission is to provide its members with a lockbox and access management solution that is fully member-focused and driven to provide superior customer service. SentriLock has a 96 percent customer satisfaction rating and is committed to providing the same exceptional support and technology to showing service customers.
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Sixty-Five Percent of Those Who Attended an Open House Within the Last Year Would Do So Now Without Hesitation
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Homesnap Launches Real Estate Websites for Homesnap Pro+ Users
With in-person interactions slowing in the wake of COVID-19, an agent's digital presence is more important than ever. To that end, Homesnap is proud to announce the release of Real Estate Websites, exclusive to Homesnap Pro+ members. Professionally developed, personally branded, and powered by Homesnap Search, Homesnap Pro+ Real Estate Websites enable you to establish a credible, lead-generating online presence in minutes, not weeks. Included as part of your premium Homesnap Pro+ membership, Homesnap Pro+ Real Estate Websites are ready to go live with little more than a click of a button—at a fraction of the cost of traditional website builds. These professionally designed websites include: A simplified, elegant layout that prominently features your preferred web address name and brand across all pages Powerful, lead-generating real estate tools consumers love A built-in search portal powered by Homesnap, featuring the most accurate, real-time data in the industry Best of all, you'll never have to worry about upkeep, maintenance, or outages because Homesnap will handle all of the back-end management for you. Why Homesnap Pro+ Real Estate Websites? Homesnap Pro+ Real Estate Websites offer several advantages over traditional website builds. Cut costs and nothing else Professional website development and ongoing hosting, maintenance and downtime costs can often exceed several thousand dollars. Homesnap Pro+ Real Estate Websites, on the other hand, are included as part of a Homesnap Pro+ membership. You'll get an instant, personalized, and worry-free agent website and access to the Homesnap Pro+ suite of lead generation and business management tools. Homesnap Pro+ features include Google business profile verification, optimization and management; advanced off-market search filters; enhanced agent profiles, Who's Viewed My Listings & Profile; custom lead pages; and more. Powered by accurate, real-time data Homesnap Pro+ Real Estate Websites are the only personal agent websites on the market powered by Homesnap Search. Visitors to your website will be able to search for properties with the same industry-leading consumer portal they use and trust on Homesnap.com. The only difference? Every listing they view will feature you as the sole point of contact. Consumers will be able to message you directly from your website. A lead-generation machine Your Homesnap Pro+ Real Estate Website comes ready-made with powerful home search tools and lead generation forms. Consumers can sign up for newsletters, delivered to their inbox and branded to you, that keep them up to date with the latest listings, transactions, and trends in their chosen zip code(s). Consumers can also take full advantage of Homesnap's Comparative Market Analysis feature, a seller's market analysis tool, that enables them to assess the market value of their home by comparing it to similar properties that have recently listed or sold. Consumers who provide their basic information (name, email address, phone number) can get access to both. There's absolutely no legwork on your end. Just sign up for a Homesnap Pro+ Real Estate Website and watch the leads roll in. Online presence made easy Homesnap Pro+ Real Estate Websites can be linked to your Google Business Profile, also included in your Homesnap Pro+ membership, providing prospective customers a one-stop-shop for discovering your business and getting in touch. Additionally, your website pages, including the newsletter signup and the seller market analysis tool, and listing pages (a Pro+ feature, mentioned above) can be shared on social media platforms. Have an existing website? No problem Homesnap can easily migrate your existing website. You'll keep your domain name (so no need to change your marketing materials) and have a new website up in running within 24 hours. Ready to get started? Claim your website now. To view the original post, visit the Homesnap blog.
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New Virtual Tours on Homes.com
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Unprecedented Turnaround in Home Showing Activity Seen in April and May as Agents, Buyers and Sellers Adjust to Virtual Showings
Showing Traffic Matches Prior-Year Levels in Many Markets According to Latest ShowingTime Data; Tech-Facilitated Showings, Loosening of Stay-at-Home Restrictions Account for Improvements May 21, 2020 - Showing activity continued an impressive turnaround after an historic spring collapse, led in part by loosening restrictions and increased adoption of virtual showing technology, according to data from ShowingTime. In early April, 42 states had issued stay-at-home orders, though by mid-May, the number of states where only essential businesses were permitted to remain open had dropped to 21. The Department of Homeland Security lists real estate as an essential service, though local guidelines take precedence. "The beginning of April marked the absolute bottom of per capita real estate activity since the Great Depression as three-quarters of buyer traffic evaporated, yet that was immediately followed by an unprecedented turnaround," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "We've seen a significant rebound in May as rapidly returning buyer traffic concentrates on the subdued levels of inventory." The data also show that listings that have gone under contract since the onset of the COVID-19 pandemic have required 40 percent fewer showings. "The probability of going under contract for listings coming on the market has been remarkably stable after the first week of April," Cherkasskiy said. "This suggests that buyers who were still trying to see homes in April were, on average, more determined to complete the transaction." The upswing in showing activity correlates with an increasing rate of adoption of technology, with more and more agents conducting showings virtually. Since introducing a "virtual showing" option within its showing management products in early April, ShowingTime has seen tens of thousands of showings conducted exclusively online. ShowingTime also introduced ShowingTime LIVE, an all-in-one showing and video platform that enables agents and their buyers to use ShowingTime's mobile app for live, one-on-one interactive video showings. ShowingTime LIVE is currently available in select markets, and will be available throughout the U.S. and Canada in June. "We're continuing to see great resilience in the industry, which can be attributed to agents' willingness to expand their view of how showings can be conducted," said ShowingTime President Michael Lane. "The data we're seeing indicate an impressive rate of adoption of virtual showings. With the introduction of ShowingTime LIVE, we're able to help agents get buyers into properties in a safe manner." In Michigan, state officials updated their guidance on May 7 and declared real estate an essential business. As a result, the state's showing activity jumped dramatically, recovering to a normal springtime run-rate in just eight days. It could signal how other states will fare following similar actions and loosening of restrictions. As anticipated, Showing Index® data in April revealed flagging activity on a year-over-year basis. Nationally, showing activity dropped 42.1 percent year over year in April, with the Northeast Region's 51.2 percent fall the most significant of all four regions. The Midwest's 41.4 percent year-over-year dip came next, followed by a 36.7 percent decline in activity in the West. The South's 33.6 percent fall in activity rounded out the year-over-year decreases in buyer traffic. The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, providing a benchmark to track buyer demand. ShowingTime facilitates more than five million showings each month. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Local MLS indices are also available for select markets and are distributed to MLS and association leadership. To view the full report, visit showingtime.com/showingtime-showing-index/ About ShowingTime ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers, agents and other real estate companies, as well as a recruiting tool for brokers. ShowingTime products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]
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HomeActions Rolls Out PowerAgent360 Program to Recognize Best-of-the-Best
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Hopeful Home Shoppers Rev Their Engines at the Starting Line
Realtor.com users saving and sharing more listings; relying on virtual tours to prepare SANTA CLARA, Calif., May 18, 2020 -- Increased activity on realtor.com suggests that home shoppers are gearing up for a later than usual homebuying season. Realtor.com® listing visits, saves and shares are all up significantly since the first wave of shelter-in-place orders took effect on March 16; especially for those listings with virtual tours. Consumer survey data shows virtual tours have become an essential part of the home search process and will likely remain so even after in-person open houses resume across the country. Listing visits, saves and shares up significantly More than 70 percent of realtor.com® users surveyed registered on the site so that they could save homes as a way to track price reductions and make a shortlist of homes to tour post COVID-19. Additionally, since March 16: Listing views for single family homes and condos are up 30 percent; Saved homes are up 76 percent; Shared homes are up 95 percent; and Time spent per unique user is up 14 percent. "Data suggests that home shoppers who had paused their search are now picking it back up, and the spring homebuying season won't be lost, but merely pushed into the summer months," said Danielle Hale, Chief Economist, realtor.com®. "Tools such as virtual tours and Livestream Open Houses are enabling consumers to safely continue their home search while maintaining social distancing guidelines and have proven to be very popular with consumers." Virtual shopping technology is here to stay Since shelter-in-place orders began, the growth rate of visits to listings with virtual tours has been twice as high as those without. User visits were also 29 percent higher for listings featuring virtual tours, with those listings generating increased engagement and greater likelihood of a consumer connecting with an agent about the home. "While many consumers don't see virtual tours as a replacement for in-person viewings, they have emerged as a valuable tool to learn more about a home, see details up close and help narrow down the search. We believe virtual tours will remain an integral part of the home search, even when shoppers feel more comfortable visiting homes in-person again," said Hale. A survey of realtor.com® users found that: Two thirds (64 percent) had taken a virtual tour, and of those, 45 percent prefer listings that offer virtual tours; Sixty five percent of home buyers believe that virtual tours will continue to be a great resource in their home shopping process even after the pandemic; and An additional 8 percent think virtual tours can be a replacement for in-person tours. When asked what they like about virtual tours, top responses include: They help me eliminate homes that aren't for me (52 percent); They help me see the details of a home without having to step inside (43 percent); They help me create a shortlist of homes I want to see in person (38 percent); and They allow me to see more homes more quickly, without having to drive around to open houses (30 percent). Visit realtor.com®'s COVID-19 recovery site for information, resources and tools: https://www.realtor.com/covid-19/recovery About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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Second Century Ventures Announces 2020 REACH and REACH Commercial Companies
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Free Lead Generation Bootcamp: Flex Your Real Estate Muscles
Generating leads is one of the most important tasks real estate agents must complete to create a thriving business. Unfortunately, it is also one of the most common reasons real estate agents don't succeed. It doesn't matter how great your marketing or negotiating skills are if you don't have clients to leverage them for. If you're looking for ways to strengthen your lead funnel, this free email bootcamp is for you. In this bootcamp, you'll learn: Where to Find More Real Estate Leads There's more than one way to generate leads. This bootcamp explores a range of lead generation sources you can use to generate new leads, work your current database, and leverage your extended contacts and network to generate leads for your business. How to Generate More Real Estate Leads Knowing where to find leads is just the first step. Once you know where to look, we'll go over the best way to attract those leads so that they will want to reach out to you for help. Convert More Real Estate Leads Once you have a buyer or seller's attention, you have to close the deal. Each lead source has a list of action items so that you can start working on generating leads from that source right away. Some agents have more leads than they know what to do with. Sign up for the free Lead Generation email bootcamp here to become one of them! To view the original post, visit the Homes.com blog.
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Realtor.com Forecasts a Year of Ups and Downs for Housing Market
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Top-ranked US real estate agent Ben Caballero tops $2 billion volume - again
Nearly 4,000 new homes sales in Dallas-Ft. Worth alone last year sets new record DALLAS, TX (May 11, 2019) -- Ben Caballero, a current Guinness World Record title holder and No. 1-ranked real estate agent in the U.S., set a new record for home sales in Dallas-Ft. Worth last year. Caballero sold 3,982 new homes in the Dallas-Ft. Worth market worth more than $1.569 billion in 2019. Caballero broke the previous record, which he set in 2018, when he sold 3,496 new homes in the Dallas-Ft. Worth area worth $1.384 billion. The verified sales data come from the North Texas Real Estate Information Systems, Houston Association of REALTORS, San Antonio Board of REALTORS, and the Austin Board of REALTORS Multiple Listing Services. 2019 marked Caballero's second-biggest sales year overall ever, as he sold 5,778 new homes worth $2.249 billion in the four biggest new home construction markets in Texas. In 2018, Caballero sold a record of 5,793 new homes totaling $2.271 billion in a single year. He is the only real estate agent ever to exceed $2 billion in annual home sales, a feat he has now accomplished twice. Caballero, CEO and owner of HomesUSA.com, was the sole listing agent on every transaction and selling only new homes as he represents 60-plus builders in Houston, Dallas-Ft. Worth, Austin, and San Antonio. "Everything is bigger in Texas," said Caballero, adding "Texas is home to the world's greatest and most resilient housing market and is one of the strongest economies globally. Achieving this record volume in the Dallas-Ft. Worth area I call home gives me enormous satisfaction and pride. I also feel blessed being able to do something every day – helping builders – that I enjoy immeasurably." For nearly a decade, Caballero has been the top-ranked real estate agent by REAL Trends for both total sales and number of transactions. Between 2004 and 2019, Caballero was responsible for 36,827 new home sales totaling $13.141 billion in volume. That volume is higher than the annual Gross Domestic Product of 65 countries, according to the World Bank. To put Caballero's 2019 accomplishments in perspective, he averaged more than 100 new home sales a week or 15 new homes a day, or a pace of nearly two home sales every business hour. Caballero attributes the ability to maintain his massive volume to his HomesUSA.com platform, which he invented and uses to manage property listings on local Multiple Listing Services for his builder clients. Caballero is the only individual real estate agent to surpass the total production of highest ranked real estate teams on REAL Trends "The Thousand" list, as measured by total sales transactions (sides) and total transaction volume. Caballero's record sales in 2018 earned him his second Guinness World Record title. He is the past and current title holder for "Most annual home sales transactions through MLS by an individual sell side real estate agent." About Ben Caballero and HomesUSA.com® Ben Caballero, founder and CEO of HomesUSA.com, holds the current Guinness World Record title for "Most annual home sale transactions through MLS by an individual sell side real estate agent." Ranked by REAL Trends as America's top real estate agent for home sales since 2013, Ben is the most productive real estate agent in U.S. history. He is the only agent to exceed $2 billion in residential sales transactions in a single year, a feat first achieved in 2018 and last year. An award-winning innovator and technology pioneer, Ben only sells new homes, working with more than 60 home builders in Dallas-Fort Worth, Houston, Austin, and San Antonio. His podcast series is available on iTunes and Google Play. An infographic illustrating Ben's sales production is here. Learn more at HomesUSA.com |Twitter: @bcaballero - @HomesUSA | Facebook: /HomesUSAdotcom.
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Back At You Launches Instagram Integration
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Chime Unveils New Three-Line Dialer to Expedite Calling Efficiency and Increase Agent Productivity
PHOENIX, May 05, 2020 -- Chime Technologies, an award winning operating system for the real estate industry, today announced a new fully integrated Three Line Dialer tool to expedite calling efficiency and support increased agent productivity. An addition to Chime's existing Call Packages, the new feature allows ISAs, agents and brokerages to quickly dial up to three leads at once making it easier to identify sales ready buyers and sellers and save agents valuable time. By relying on innovative technology from Chime, forward thinking brokerages eliminate the time consuming and mundane task of wading through long lead lists with individual calls, freeing agents to instead focus on revenue-generating activities. To learn more about Chime's sales acceleration platform, please visit HERE. "Time is an agents" most valuable asset. Adding a Triple Line Dialer to Chime's already powerful CRM helps me focus on money making activities like writing contracts and conducing house tours as opposed to tedious hours spent on the phone dialing one by one," said Brett Baker, The Baker Team. "Now, instead of spending nine hours on the phone with a single line dialer, I can spend three hours, call the same amount of people, and still catch my kids little league game in the same afternoon. Priceless!" Today's agents and brokerages often have hundreds of cold or expired leads to contact, requiring several hours per week to call one-by-one with little to no return as the majority of leads don't even answer. The new Three Line Dialer was built to allow for the dialing of up to three different numbers at the same time. As a result, an agent can connect with the one that actually answers to not only work through the lead lists more quickly, but efficiently connect with high quality leads. Unlike competitors, the Three Line Dialer is fully integrated into Chime's AI-powered sales acceleration platform, ensuring call logs are immediately and directly synced to lead profiles in the platform. This results in an up to date CRM that accurately reflects all contact attempts made. In addition, by filtering out fake leads, agents are armed with reliable lead lists to reach high quality buyers and sellers in a relevant and timely manner. With unlimited call minutes and the ability to make up to 2,000 calls per day, the Three Line Dialer tool features several key options including: Questionnaire: Outlines common questions to ask leads; automatically populates lead profile in Chime platform Call Scripts: Templates can be customized to ensure messaging stays consistent and focused Callback Message: Record a personalized callback message to avoid missing the opportunity to connect, should more than one lead answer Automated text message: Customize as follow-up for each individual lead "We make it a priority to connect with agents across the country to intimately understand their day to day challenges and deliver the most valuable platform on the market today," said Mike McGowan, Vice President, Sales, Chime. "Our new Three Line Dialer reflects our commitment to streamlining time consuming processes that plague the real estate industry and empower agents with valuable tools, built on innovative technology, to increase productivity for long term success." About Chime Technologies Chime is an all-in-one Sales Acceleration Platform for the real estate industry headquartered in Phoenix, Arizona. Its award-winning productivity suite offers a robust set of features that help real estate professionals and teams of all sizes run and grow their business. Chime Technologies operates as a US subsidiary of Renren, Inc. (RENN). For more information, contact [email protected] or 888-682-4463, or visit www.chime.me.
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New Listings Fall Nearly 45 Percent in April as Coronavirus Keeps Sellers on the Sidelines
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Matterport Brings 3D Capture to the iPhone
Company's patented 3D technology enables users to capture and share 3D spaces for the first time using their iPhone SUNNYVALE, Calif., May 4, 2020 -- Matterport, the industry leader in 3D capture and spatial data, today released Matterport for iPhone, a breakthrough way to create, edit, and share high fidelity 3D digital twins of any physical space. With the Matterport Capture app, iPhone owners now have a fast and easy way to capture a 3D environment; personalize it with embedded notes, links, labels or videos; and share it with a simple click. Visitors can explore the spaces in immersive 3D that is just like being there in person. They can even digitally measure walls, doors, windows or furniture. iPads are also supported by the Matterport Capture app, available today in the Apple App Store. "With billions of square feet captured in more than 80 countries, Matterport has created the standard for 3D capture to digitize the built world. Today marks our first step to empower billions of smartphone users to try Matterport for themselves," RJ Pittman, CEO of Matterport, stated. "Matterport for iPhone introduces the world to our advanced spatial data capture and Cortex AI technologies in an easy-to-use app that enables anyone to capture and share 3D spaces with friends, family or colleagues." Once downloaded, the Matterport Capture app can be used immediately in a number of powerful ways: Real estate agents can scan a property almost as easily as taking photos with their iPhone, to create and publish an accurate 3D digital twin of a property listing Homeowners can share a digital twin of their kitchen to get a quote for a remodel or scan damage to send to their insurance company for a more accurate estimate for repair. iPhone users can freely share their digital twins with friends and colleagues, along with prospective tenants, owners, and more. Interior designers can capture a space and take it with them to make sure furnishings fit. Contractors can efficiently document stages of progression during the construction or renovation process. Property owners can create an immersive virtual tour of their spaces to improve their booking rate on rental sites. Businesses can easily capture a 3D digital twin of their office to help with recruiting, hiring, wayfinding, space planning and building company culture. And anyone can capture and share places that are important to them -- whether it's a special room in their home, a favorite spot they frequent, or an incredible space they experienced on vacation. "We have been hard at work advancing the capability of the Matterport platform to support 3D capture from a range of new digital capture devices over the past two years. Matterport for iPhone marks an important milestone in our capability to create stunning 3D digital twins of any space using the phone in your pocket," said Japjit Tulsi, CTO of Matterport. Matterport for iPhone is powered by Cortex, the company's AI platform and patented deep learning neural network. It analyzes 3D spatial data captured from Matterport's flagship Pro2 camera and a wide variety of third party devices including Lidar cameras, 360 cameras, and now smartphones. With millions of spaces captured, Cortex consistently and accurately creates the 3D digital twin and handles complex tasks -- from 2D to 3D reconstruction, advanced image processing, automatic color correction, object and room labeling, and more. Cortex can even generate professional looking photo galleries and shareable videos from within the digital twin, along with measurements and dimensions of entire spaces; and automatic face blurring for privacy. For more information about Matterport for iPhone, visit https://www.matterport.com About Matterport Matterport is the industry leader in 3D capture and spatial data with a mission to digitize and index the built world, and advance the way people interact with the places they inhabit and explore. Matterport's all-in-one 3D data platform enables anyone to turn a physical space into an immersive digital twin and share it with others to connect and collaborate in 3D. In less than a decade, customers such as Redfin, HH Angus, Sotheby's, Arup and Marriott, have captured billions of square feet of space in over 80 countries. Learn more at matterport.com, browse a gallery of digital twins, or explore a curated global collection of 3D spaces at Destination : Everywhere.
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ProspectsPLUS! Launches New Web-to-Print Direct Marketing System for Real Estate Agents
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BoomTown Expedites Virtual Tools to Help Bolster Real Estate Businesses
Company accelerates to prioritize releasing features that allow clients to provide more virtual services to consumers CHARLESTON, S.C., April 29, 2020 -- BoomTown, the leading sales and marketing platform for real estate professionals, is excited to announce new website and advertising features to help clients generate more business, virtually, and serve consumers amidst social distancing regulations. The news continues the momentum of the Marketing Central self-serve advertising portal, and recently announced Consumer-Facing Mobile App. The company has prioritized development time to expedite the release of more enhancements that allow clients to run their businesses more virtually. As virtual tours and video chatting have become critical to business normalcy in today's climate, site visitors can now search for properties with virtual tours, filter properties to view all listings with virtual tours available, request a virtual tour via video chat, and "Join a Virtual Open House." These virtual showings are scheduled by the agent, hosted through Facebook or other MLS tools, and the event link is seamlessly integrated into their listings via the MLS. Agents can also highlight their properties with virtual tours in automated e-Alerts that are tailored to their prospects' preferences. "Screen time has skyrocketed. We've seen a 15% increase in "Tour via Video Chat" requests, and from a Facebook perspective, our digital marketing teams have seen a 35% increase in impressions," said Grier Allen, CEO & President of BoomTown. "This means advertising on Facebook is imperative to reaching people where they are, and these new tools allow our clients to quickly create ads that efficiently reach the consumers who are looking for their help. These are timely new tools in their arsenal of CRM and marketing solutions that make it easy to maintain relationships and best serve clients, from anywhere." BoomTown's latest ad builder allows clients to create custom ads for social media that drive traffic to and promote any landing page or post. This means clients can promote a virtual tour of a listing, highlight and quickly share educational content from Keeping Current Matters, and even create ads that allow consumers to request a video chat for more information. About BoomTown BoomTown exists to make real estate agents successful. 40k+ of the industry's top professionals, and 40% of the Real Trends Top 250 teams, trust BoomTown to grow their real estate business with easy-to-use technology that creates opportunities and turns them into closings. Capabilities include a customizable real estate website integrated with local MLS data, client success management, a cutting-edge CRM (Customer Relationship Management) system with custom marketing automation, personalized advertising and lead generation services, and a mobile app for agents on the go. BoomTown's service offerings extend far beyond technology with coaching services from peers who have catapulted their growth with the system, lead qualification services to contact, qualify, and nurture leads, and dedicated advisors to offer personalized support at every step from onboarding and training to optimizing your business and planning for strategic growth. Founded in 2006 and headquartered in Charleston, SC, BoomTown has additional offices in Atlanta, GA, San Diego, CA, and San Francisco, CA. For more about BoomTown visit boomtownroi.com.
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Homesnap Introduces 'Coming Soon' Ads for Listings
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Realtor.com Connects Homeowners with Options to Sell Now, Move Later
Realtor.com users can now evaluate EasyKnock options to access their house value while remaining in their home during uncertain times SANTA CLARA, Calif., April 23, 2020 -- The COVID-19 crisis has prompted the need for 9 percent of consumers to unexpectedly move to a new home within the next six months, according to a recent consumer survey from realtor.com. In an effort to provide more flexibility to consumers impacted by the crisis, realtor.com is working with EasyKnock, a provider of "sell now, move later" options which enable consumers to access the value of their home without having to move right away. As part of this solution, realtor.com® users will be able to quickly determine their eligibility for, and likely proceeds from, two EasyKnock programs -- Sell and Stay and MoveAbility. Sell and Stay offers longer term lease options and the opportunity to buy back the home, while MoveAbility is aimed at homeowners who would like to move but haven't found their new home yet. Through the programs, EasyKnock purchases the home for the full appraised value with a combination of cash and an option, and closes on average within 21 days. Homeowners can choose to rent the home back for as long as they'd like. When the time comes, the consumer gives EasyKnock the go-ahead to sell the home on the open market and can receive any additional proceeds when the sale closes. "The COVID-19 crisis has had a profound impact on the job market which may lead some families to make extremely difficult decisions," said Todd Callow, vice president, product management, realtor.com®. "As part of our mission to provide consumers with all of the available information to help make informed decisions, realtor.com® will inform consumers about EasyKnock's options so they can determine if the programs are a good fit for their financial and housing needs." Realtor.com® has launched a dedicated site with information, resources and tools to help consumers navigate these uncertain times. Additionally, realtor.com® has made a series of product updates to help consumers get as much information and detail as possible about a property without physically visiting. This includes more 3D tours, video chats and access to Livestream Open Houses. To learn more, go to https://www.realtor.com/covid-19/ About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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Nearly 3 in 4 Realtors This Week Report Sellers Haven't Lowered Listing Prices to Attract Buyers, Suggesting Calmness and No Panic Selling by Homeowners
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Attend an Open House without Leaving Your Couch
Realtor.com is the first home search site to connect consumers with Livestream Open Houses SANTA CLARA, Calif., April 17, 2020 -- Realtor.com today announced the availability of Livestream Open Houses, enabling home shoppers to virtually attend live open houses from the comfort of their own home. As COVID-19 continues to limit social interactions and group gatherings including open houses, realtor.com is working closely with MLSs to enable listing agents to show homes safely while practicing social distancing. Just like traditional open houses, Livestream Open Houses allow listing agents to show home shoppers around the property in real time. Open house attendees will be able to drop in at any time during the open house to hear about the listing and have a look around. Unlike virtual tours, these events are scheduled in advance and broadcasted live so consumers can interact with the agent, ask questions and request to see specific home features up close. "While virtual tours are a great resource for consumers, most home shoppers still want the opportunity to walk through a home with an agent and ask questions in real time," said Ryan Green, vice president, product management, realtor.com®. "Especially during this time of social distancing, realtor.com®'s Livestream Open Houses will give agents the opportunity to showcase their properties, and will allow consumers the ability to still explore a home through a live online experience from the safety of their own homes." A recent consumer survey from realtor.com® and Toluna Insights found that with access to accurate listing data, detailed photos, virtual and live video tours, 24 percent of people (and 29 percent of 18-34 year-olds) would be willing to buy a home without seeing it in person. Further, 21 percent of people agree that COVID-19 has made them more likely to move into a home without stepping foot in it first. At launch, Livestream Open Houses will support a number of video platforms including Google Hangouts, Zoom, join.me and Zoho, with additional platforms to be added over time. Real estate agents can choose which video platform works best for their needs. Livestream Open Houses are now available on realtor.com®'s web and mobile web experiences in available geographic areas. Home shoppers can select the time that works best for their schedule and join via the Open House section of a for sale property listing or by searching for properties with upcoming open houses. Realtor.com® is dedicated to supporting the community and helping to ease the home transaction process as much as possible during COVID-19. To learn more, visit: https://www.realtor.com/covid-19/ About realtor.com® Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology, realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals, realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com.
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Agents turn to CRS Data's property data, mapping tools as Coronavirus restrictions tighten
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A Quarter of Realtors This Week Report Homes Coming Under Contract Without Buyers First Visiting the Property
WASHINGTON (April 16, 2020) -- A quarter of Realtors with clients putting contracts on homes this week had at least one do so without physically seeing the property, according to a new survey from the National Association of Realtors. For those clients, the median amount of homes toured -- either virtually or in person -- before putting a contract on a home was just three. NAR's 2019 Profile of Home Buyers and Sellers found buyers typically looked at nine homes before placing a contract on a home. "Expect second-quarter home sales activity to slow down with the broad observance of stay-at-home orders, but sales will pick up when the economy reopens as many potential home buyers and sellers indicate they're still in the market or will be in a couple of months," said NAR Chief Economist Lawrence Yun. "Home prices remain stable as deals continue to happen with the growing use of new technology tools. Remarkably, 10% of Realtors® report the same level or even more business activity now than before the economic lockdown." NAR's latest Economic Pulse Flash Survey – conducted April 12-13, 2020 – asked members about how the coronavirus outbreak has impacted the residential and commercial real estate markets. Several highlights include: A third of Realtors® – 33% – reported no closing delays. For those reporting delays, the top reasons listed included delays in financing, appraisals and home inspections. Residential tenants are facing rent payment issues, but many delayed payment requests are being accommodated. Forty-one percent of property managers reported being able to accommodate tenants who cannot pay rent and about a quarter of individual landlords – 24% – said the same. NAR also today released its 2020 Down Payment Expectations & Hurdles to Home Ownership report, which offers home buyer, consumer, and Realtor® perspectives on down payments and family involvement in the home buying process. Several highlights include: Nearly a quarter of Millennials – 24% – received down payment assistance from a parent or relative. A majority of Realtors® – 65% – said that in the last five years they've had clients receive down payment assistance from a parent or relative. View NAR's 2020 Down Payment Expectations & Hurdles to Home Ownership report here View NAR's Economic Pulse Flash Survey full report here. View NAR's Weekly Housing Market Monitor here The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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ProspectsPLUS! 10X is Officially Here
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U.S. Housing Markets Vulnerable to Coronavirus Impact Clustered in Northeast and Florida
Nearly Half of the 50 Most Vulnerable Counties in New Jersey and Florida; Midwest and West Regions Less At Risk of Housing-Market Challenges IRVINE, Calif. -- April 7, 2020 -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released a Special Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the Coronavirus pandemic. The report shows that the Northeast has the largest concentration of the most at-risk counties, with clusters in New Jersey and Florida, while the West and Midwest have the smallest. The report reveals that housing markets in 14 of New Jersey's 21 counties are among the 50 most vulnerable in the country to the economic impact of the Coronavirus. The top 50 also include four in New York, three in Connecticut and 10 from Florida, but only one in California, none in other West Coast states and only one in the Southwest. Markets are considered more or less at risk based on the percentage of housing units receiving a foreclosure notice in Q4 2019, the percent of homes underwater (LTV 100 or greater) in Q4 2019, and the percentage of local wages required to pay for major home ownership expenses. Rankings are based on a combination of those three categories in 483 counties around the United States with sufficient data to analyze. Counties were ranked in each category, from lowest to highest, with the overall conclusions based on a combination of the three rankings. See below for the full methodology. "It's too early to tell how much effect the Coronavirus fallout will have on different housing markets around the country. But the impact is likely to be significant from region to region and county to county," said Todd Teta, chief product officer with ATTOM Data Solutions. "What we've done is spotlight areas that appear to be more or less at risk based on several important factors. From that analysis, it looks like the Northeast is more at risk than other areas. As we head into the Spring home buying season, the next few months will reveal how severe the impact will be." High-level findings from the analysis: New Jersey and Florida have 24 of the 50 most vulnerable counties from among the 483 included in the report. The 14 counties in New Jersey include five in the New York City suburban area: Bergen, Essex, Passaic, Middlesex and Union counties. The 10 counties in Florida are concentrated in the northern and central sections of the state, including Flagler, Lake, Clay, Hernando and Osceola counties. New York counties among the top 50 most at risk include Rockland County, in the New York City metropolitan area; Orange County, in the Poughkeepsie metro area; Rensselaer County, in the Albany metro area; and Ulster County, west of Poughkeepsie. Other southern counties that are in the top 50 are spread across Delaware, Maryland, North Carolina, South Carolina, Louisiana and Virginia. Among the counties analyzed, only two in the West and five in the Midwest (all in Illinois) rank among the top 50 most at risk from problems connected to the Coronavirus outbreak. The two western counties are Shasta County, CA, in the Redding metropolitan statistical area and Navajo County, AZ, northeast of Phoenix. The midwestern counties are McHenry County, IL; Kane County, IL; Will County, IL and Lake County, IL, all in the Chicago metro area; and Tazewell County, IL, in the Peoria metro area. Counties in the top 50 with a population of at least 500,000 people include Bergen, Camden, Essex, Middlesex, Ocean, Passaic and Union counties in New Jersey; Lake, Will and Kane counties in Illinois; Delaware County, PA; Prince George's County, MD; and Broward County, FL. Texas has 10 of the 50 least vulnerable counties from among the 483 included in the report, followed by Wisconsin with seven and Colorado with five. The 10 counties in Texas include three in the Dallas-Fort Worth metro area (Dallas, Collin and Tarrant counties) and two in the Midland-Odessa area (Ector and Midland counties). Eighteen of the 50 least at-risk counties have a population of at least 500,000, led by Harris County (Houston), TX; Dallas County, TX; King County (Seattle), WA; Tarrant County (Fort Worth), TX; and Santa Clara County, CA, in the San Jose metro area. Counties where median prices ranging from $160,000 to $300,000 comprise 36 of the top 50 counties most vulnerable to the impact of the Coronavirus. Counties with median home prices below $160,000 or above $300,000 make up 14 of the top 50 most vulnerable to the impact of the Coronavirus. Those with median prices below $160,000 are among the most affordable in the nation to local wage earners, while those where median prices exceed $300,000 have some homes with the highest equity and smallest foreclosure rates. Report methodology The ATTOM Data Solutions Special Coronavirus Market Impact Report is based on ATTOM's fourth-quarter 2019 residential foreclosure and underwater (LTV 100 or more) property reports and first-quarter 2020 home affordability report. Counties with sufficient data to analyze were ranked based on the percentage of properties with a foreclosure filing during the fourth quarter of 2019, the percentage of properties with outstanding mortgage balances that exceeded estimated market values in the fourth quarter of 2019, and the percentage of average local wages need to afford the major expenses of owning a median-priced home in the first quarter of 2020. Ranks then were added up to develop an overall ranking across all three categories. Equal weight was given to each category. Counties with the lowest composite ranks were considered most vulnerable to housing market problems. Those with the highest composite ranks were considered least vulnerable. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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RPR Doubles Its Mailing Labels Capability
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CINC Dynamically Shifts Development, Product, and Service Focus to Address COVID-19 Crisis
MARIETTA, GA., April 6, 2020 -- CINC, the number one lead generation and conversion platform for elite agents and teams, today announced new releases in development, product, and service to address specific needs of clients affected by COVID-19, including enhancements to the full suite of CINC's offering. CINC has focused its efforts on creating tools needed to navigate the now virtual nature of home buying and selling and helping CINC clients better communicate with their consumers. "This is what CINC is all about – facing challenges with optimism," says Alvaro Erize, CEO, CINC. "We see this as an opportunity for our clients to lead the industry through this challenge." He continues, "People are starving for human connection like never before, and agents that have the means and the mindset to supply that connection will be doing a public service AND securing a lot of business through and after this situation. So, this package of features, content, and service we are releasing is meant to provide CINC clients more and better tools they need to establish deeper and more human connections, remotely." Updates Include: Immediately Request a Virtual Meeting: We've modified our "Request a Showing" feature so that a consumer can now immediately request or schedule a virtual meeting via video chat with an agent on both desktop and mobile via Etta, CINC's consumer search app. Schedule Virtual Open Houses: In the CINC properties dashboard, clients will now see a "Virtual Open House" button. Once activated, clients can schedule an open house and include either a pre-recorded video or live video stream. Message to all CINC Site Visitors: All updated CINC sites now include a message to consumers communicating safety and health updates. Updated COVID-19 Email Campaign Content: CINC's communication tools now have pre-built COVID-19 content. CINC clients can now be assured that automatic follow up scripts have been updated to timely, relevant messages addressing the new nature of home-searching and how these CINC product updates can fulfill the consumers' needs. Expanded Service Hours & Free Live Training: Service hours are extended to 8pm ET. In addition, CINC's live training team is now running virtual training sessions four days a week – free for all CINC clients to attend. "At CINC, the client always comes first," says Nate Jones , VP of Tech, CINC. "We are constantly innovating to meet their needs and the needs of the market — these updates are no different. It was important for our tech team to pivot quickly to complete these projects. A lot of late nights went into creating relevant content and updating current CINC features into something useful for the agent in today's virtual real estate environment, but that's what's most important to us, being a team our clients can rely on." CINC is committed to the health, safety, and success of its clients, partners, and employees. As public and global public health authority recommendations and specific housing market conditions and regulations evolve in this crisis, CINC will continue to adapt to the needs of its community.
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LionDesk Chooses Constellation1 to Provide IDX Data Services
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NAR Offers Members TeleHealth to Realtors at No Cost in Response to COVID-19 Crisis
CHICAGO (April 1, 2020) -- The National Association of Realtors announced Wednesday that it will be expanding access to Members TeleHealth at no cost to its members for those who register before April 15. The program comes as part of NAR's larger "Right Tools, Right Now" initiative -- relaunched on March 27 -- which is making numerous valuable resources available to the association's 1.4 million members at reduced or no cost. "While the nation continues to grapple with the COVID-19 crisis, we are doing everything we can to ensure our members and their families can stay safe, healthy and secure," said NAR CEO Bob Goldberg. "After launching 'Right Tools, Right Now' last week, we promised to closely monitor the effects of this pandemic and update the initiative as needed. I'm pleased to announce today the addition of Members TeleHealth, a long-term REALTOR Benefits® partner offering, to the RTRN toolkit." Members TeleHealth provides around-the-clock access to non-emergency healthcare from more than 2,300 board-certified U.S. physicians. Common issues addressed through telemedicine include allergies, asthma, rashes, joint aches, flu and nausea, among others. Beginning today, NAR is funding two months of services for members who currently lack access to telemedicine and enroll in this program by April 15. Recognizing that the opportunity will likely draw significant interest from its members, NAR has also negotiated a discounted rate for those who wish to retain coverage following the two-month, no-cost period. "As we continue to solicit input from our members regarding COVID-19's impact on their lives and businesses, NAR is grateful to be able to offer expanded access to potentially lifesaving telemedicine services," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. "Medical professionals are urging Americans who are sick to stay home, and telemedicine is playing a critical role protecting our communities and our health care workers. We continue to encourage members to limit their exposure and decrease the chance of spreading illnesses to others." Through RTRN, which was initially launched during the financial crisis in 2009, Realtors® can also access webinars with tips for managing finances in uncertain times; educational resources to build or hone professional skills; and a free copy of the widely-used Profile of Home Buyers and Sellers, among other business-critical resources. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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March Housing Trends Provide First Glimpse of COVID-19 Impact on U.S. Housing Market
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JP & Associates Realtors Partners with Matterport to Make 3D Virtual Tours Available to 2,500 Agents
New Partnership Enables Streamlined Scanning Solutions and Suite of Features for Showcasing Properties FRISCO, Texas / SUNNYVALE, Calif. -- March 31, 2020 -- Matterport, the market leader for spatial data capture, and JP & Associates REALTORS (JPAR), one of the top 50 real estate brokerages in the US, today announced a partnership that empowers JPAR's agents to offer a Matterport 3D virtual tour. Matterport is making it simple for them to schedule a local scan service professional to capture a property in 3D and create a striking digital twin that clients can virtually walk through. In addition, Matterport's all-in-one platform automatically generates and simultaneously delivers high-resolution photos of the property, video assets and floor plans – everything JPAR agents need to immediately market properties. "We are always looking for new ways to serve our clients and agents – even more so in times of crisis,” said JP Piccinini, founder and CEO of JPAR. "By offering Matterport 3D virtual tours, our agents are armed with the very best solution to increase engagement with listings and help clients sell their homes as quickly as possible.” Founded in 2011, JPAR was born out of a simple concept: supply real estate agents with everything they could possibly want or need in a brokerage. A top agent himself, Piccinini laid the foundation of this leading real estate brokerage based upon two critical components: productivity and service. In just eight years, the company has grown to more than 2,500 agents and has sold more than 40 franchises. "We're proud to offer JPAR agents a turnkey solution that turns every listing into a 24/7 open house, especially now during this time of social distancing,” said Richard McDonald, senior director of real estate strategy at Matterport. "Matterport is excited to connect JPAR agents with our professional network to create the most immersive 3D property walkthroughs for their clients to explore from anywhere, at any time.” Matterport digital twins have also proven to help agents win more listings, sell properties faster and earn higher commissions. An independent study commissioned by Matterport showed that properties with 3D tours closed 31% faster and sold for up to 9% higher. Over 90% of the listings used Matterport 3D tours. About JP & Associates REALTORS® JPAR is one of the top 50 real estate brokerages. A full-service transaction fee-based real estate brokerage, it has been recognized as one of the fastest growing brokerages in the country by REAL TRENDS. JPAR has been honored by Inman Real Estate News, Inman Connect and is a back-to-back INC5000 nominee. It operates multiple offices across Texas, Louisiana, South Carolina, North Carolina, Georgia, Arizona, New Mexico, and Florida and offers franchising opportunities for entrepreneurial real estate professionals. To learn more about becoming an agent or franchising with JP & Associates REALTORS®, visit www.jpar.com. About Matterport Matterport is the leading spatial data company digitizing and indexing the built world. Its unique 3D capture technology creates the spatial data layer on which the industry can interoperate, and the company's all-in-one 3D data platform makes it fast and easy to turn any physical space into an accurate and immersive digital twin. The Matterport platform helps customers realize the full potential of a space at every stage of its lifecycle including planning, construction, appraisal, marketing and operations. Learn more at matterport.com and browse our gallery of digital twins.
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Redfin Reports How U.S. Cities Will Fare in the Coronavirus Recession
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NAR Relaunches 'Right Tools, Right Now' to Help Realtors Face Coronavirus's Impacts
Program from 2009-10 being revived to offer resources and guidance to NAR members during COVID-19 crisis CHICAGO (March 27, 2020) -- The National Association of Realtors announced the return of its 'Right Tools, Right Now' program, which will make numerous business-critical resources immediately available to all of the association's 1.4 million members at reduced or no cost. Originating in response to the financial crisis, nearly one million Realtors® accessed $54 million worth of similar NAR products and services between March 2009 and December 2010. In light of the circumstances surrounding the COVID-19 pandemic, NAR is re-engaging the program in an effort to support its members through trying times. "The well-being of our members, their families and their businesses is of paramount importance to NAR's Leadership Team, myself and our staff," said NAR CEO Bob Goldberg, who also issued a corresponding video announcement to NAR members. "Effective immediately, I would like to announce that NAR is re-launching the Right Tools, Right Now program for all members – agents and brokers. This initiative, which was activated in 2009 in another time of unique need, will make new and existing NAR products and services immediately available to Realtors® at reduced or no cost. I want NAR members to know we will continue fighting so every Realtor® has the tools and information they need to emerge from this crisis stronger and more prepared for their future." Among the resources now widely available, members can access webinars with tips for managing finances in uncertain times; educational resources to build or hone professional skills; and a free copy of the widely used Profile of Home Buyers and Sellers. "Over the past two weeks, we have seen the direct and often significant impact this crisis has had on our members," said NAR President Vince Malta, broker at Malta & Co., Inc., in San Francisco, CA. "With that uncertainty hanging over all of our heads, NAR is striving to present solutions that will bring Realtors® relief and allow them to continue living their lives and conducting business with as much normalcy as possible." Visit this link to view a full collection of the programs and resources available to members through RTRN. The page will be updated regularly. In addition, NAR is offering evolving guidance to help its 1.4 million members navigate the coronavirus crisis. The National Association of Realtors® is America's largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
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