A mission to humanize real estate by using robots (AI) sounds like an oxymoron. But a broker uploaded client data and relies on AI to maintain client relationships. NEW YORK – New York City-based Elegran/Forbes Global Properties has evolved from a real estate brokerage representing overseas buyers into a company “more balanced between buyers and … Read more
When the pandemic hit, vacation sales soared until mortgage rates rose and fewer owners listed their homes. The result: Second-home mortgage-rate locks are down 52%. SEATTLE – Due in part to higher mortgage rates, it’s a difficult time to buy a second home. In March, rate locks for second homes were down 52% compared to … Read more
RE usually sees cycles between buyer’s and seller’s markets, but this time it’s a bit different. Supply vs. demand hasn’t changed because both sides pulled back. SEATTLE – New listings fell 21.8% year-to-year during the four weeks ending April 2, one of the biggest drops since the start of the pandemic, according to a Redfin … Read more
Dear Shannon: A listing broker allowed a buyer to tour a vacant property they listed for the seller who was out of town. It’s a common practice, everybody does it, and the potential buyer did no harm. Why is this a violation? ORLANDO, Fla. – Dear Shannon: I’m a listing broker who took a … Read more
U.S. Attorney’s Office: A Pensacola man created a fake insurance company, sold policies, kept premiums, and led homeowners to falsely believe they had coverage. PENSACOLA, Fla. – An insurance company is permanently shut down after dozens of clients paid over $4.8 million for policies that were fake, federal officials said. Instead of buying insurance for … Read more
As a business social media site, LinkedIn encourages online networking. To push that effort, it’s adding AI-written content that incites conversations. NEW YORK – The worldwide artificial intelligence (AI) market, valued at $136 billion, is impacting various sectors, including real estate. LinkedIn intends to merge AI technologies into its platform to better serve users. The … Read more
70 types of service businesses, including real estate agents, can more easily target ads to consumers whose search terms seem to match a Realtor’s services. NEW YORK – Google expanded its Local Services Ads by introducing a wider and more versatile toolset. This service now allows agents to incorporate advertising products and services whenever someone … Read more
ChatGPT fake writing can now be used with software that imitates voices. That means a seemingly personal call from a client, title agent or friend could be a scam. NEW YORK – You have just returned home after a long day at work and are about to sit down for dinner when suddenly your phone … Read more
A Newsday report on Long Island, N.Y., housing discrimination led the state’s attorney general to investigate. This week she announced a settlement with Coldwell Banker. NEW YORK – Attorney General Letitia James announced on Wednesday a settlement with Coldwell Banker, putting an end to the real estate brokerage’s alleged discriminatory practices against Black, Hispanic, and … Read more
Nationally, it’s 45.5%, though slightly less in the two Fla. metros noted: 41.7% in Miami (up from 31.8%) and 41.3% in Orlando (up from 33.3%). SEATTLE – Home sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin agents during the three months ending Feb. 28, 2023, in a year-to-year comparison, according … Read more
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