Investor home purchases exceed pre-pandemic levels, hit record high

Investors purchased 67,943 US homes during the second quarter, for a total value of $48.5B, the highest figure on record, according to Redfin. Institutional investors have been making a comeback in 2021. During the second quarter, investors purchased 67,943 U.S. homes, the highest figure on record (since at least 2000), according to new data released … Read more

Home office eclipses short commute as a buyer must-have, agents say

Nearly 60 percent of agents surveyed by Homelight said they expect a home office to be a top priority for buyers in a post-vaccine landscape. Well over half of agents in a recent survey expect homebuyers to highly prioritize a home office in a post-vaccine landscape. The desire for home-office space reflects a dramatic shift … Read more

It’s a jungle out there: 4 tips for mentally preparing buyers

From coaching buyers on how to best present an offer to instilling trust in the process, mentally preparing buyers on what to expect is one of the most crucial jobs an agent will have throughout a client’s journey. New to the industry? Get started with everything you need to know about the early decisions that’ll … Read more

Bidding wars begin to cool as more home inventory comes online

Agents from a major brokerage reported the bidding environment in June was less competitive as home inventory saw a modest bounce back. Seattle-based Redfin said 65 percent of its agents’ home offers faced competition last month, down from 72 percent the month before. Bidding wars remained more prevalent than they were in June of last … Read more

Price cuts, while rare in this market, often lead to greater profit: Zillow

The number of sellers who choose to cut their listing price has dropped by a third over the last year, but a Zillow report found that if the price is dropped at the right time, sellers can net $15,000 over ask. Fewer homes are cutting their prices in this year’s seller-dominated market, but those that … Read more

How an Oregon agent helped her client win a 20-offer bidding war

Bidding wars have become a common occurrence in markets across the country, fueled by low supply and high demand.  Redfin reported that 70.4 percent of home offers written by their agents faced bidding wars in May. That’s seven out of 10 buyers.  So how can agents better position their buyers to win? Broker Sarah Renard, … Read more

Summer market will be hot, but not scorching, economists say at Inman Connect

Day 2 of Inman Connect is underway with an all-star lineup, including Opendoor’s Eric Wu, Keller Williams’ Wendy Papasan, and many more. Register now to watch the rest of the day today and tomorrow live, and catch up on what you missed on-demand. This year’s real estate market has been roaring so far, which has many industry … Read more

How to take advantage of the backup offer on both sides of the transaction

Properties are flying off the shelves fast in today’s fiery hot market, which can sometimes lead to deals made in haste on both the buyer and seller side. In these scenarios, having a backup offer in place can help the seller while allowing the backup buyer to maintain some kind of momentum in their home … Read more

Want to rake in listings? FSBOs hold the key

Jay Thompson is a former brokerage owner who spent over six years working for Zillow Group. He retired in August 2018 but can’t seem to leave the real estate industry behind. His weekly Inman column publishes every Wednesday. “That is a terrible idea. What’s the point?” That was my broker’s response when I ran an … Read more

51% of homes sold above listing price in May: Redfin

Continued inventory shortages and heightened buyer demand led to a red-hot May where nearly 60 percent of homes went under contract in two weeks. Even in the face of record-low inventory and skyrocketing median home prices, homebuyers aren’t giving up on their homeownership dreams, as evidenced by Redfin’s latest market report released on Friday. A … Read more

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