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Articles by Teresa Howe
Opinion: Beware of the hidden losses of real estate mergers and acquisitions
As someone who worked for a large, nationally branded brokerage for 30+ years, I had a front-row seat to many mergers and acquisitions. I would love to say they all went well, but they didn’t. Back before iron-clad earn outs and claw-back clauses, I witnessed a time when two days after an acquisition announcement, the entire agent population walked out with the managers. That was fun. We learned not to assume anything.
Will ChatGPT and AI Impact the Mobility Industry?
ChatGPT is a new artificial intelligence tool that may change the way we manage and engage with consumers and, ultimately, relocation referrals forever. You may have recently heard some buzz around ChatGPT-3 (Generative Pre-trained Transformer). This is not some fly-by-night tech. It is already becoming an integral part of marketing and lead management. As an example, it is being used to write MLS property descriptions for real estate agents.
Moinhos portugueses
Embora muitos moinhos de vento localizados em Portugal estejam hoje em dia demolidos ou abandonados, vamos encontrar vários recuperados como resultado da iniciativa da população e câmaras municipais. Este tipo de edificação de forma circular com uma cúpula cónica e com velas de pano em varas girantes caraterizam-se ainda por ter uma porta de entrada e uma pequela janela num piso superior. O movimento das varas e velas faziam movimentar mós de pedra bem pesadas, localizadas no interior do moinho.
Julia Gordon discusses affordable housing at NAR Legislative Meeting
Federal Housing Administration (FHA) commissioner Julia Gordon discussed regulator policy concerns in the real estate industry with agents attending the National Association of Realtors' (NAR) Legislative Meeting Monday afternoon in Washington, D.C. During her keynote address, Gordon discussed the FHA's latest actions, including the 30-basis point reduction to annual mortgage insurance premiums charged to buyers who use an FHA-insured mortgage, the 203(k) program and accessory dwelling units.
REW works to build a global MLS with the help of AI
Real estate industry technology provider Real Estate Webmasters (REW) is looking to make property listing data available worldwide with the help of its ChatGPT-powered artificial intelligence robot REWPert. The concept of a global multiple listing service was first brought to REW by Michale Polzler, the CEO of RE/MAX Europe, and Paul Boomsma, the CEO of LeadingRE.
Home prices inching up despite difficult affordability
Available inventory of homes on the market actually fell this week as American home buyers continue to defy expectations. Even as difficult affordability curtails some demand, new supply remains incredibly restricted. And, home prices - which are flat to down year over year - are inching up each week. This data is creating a surprising supply and demand equation. Inventory Available inventory of single-family homes for sale actually dipped this week to 419,000.
NAR proposes indexing membership dues with inflation
The National Association of Realtors (NAR) is considering a proposal to align increases in membership dues to changes in the Consumer Price Index. Greg Hrabcak, the treasurer of the trade organization, announced the proposal from the NAR Finance Committee on Sunday evening during NAR's annual Legislative Meeting. "NAR ended 2022 with a strong financial position with record high membership," Hrabcak told attendees.
CRMLS partners with real estate video platform WellcomeMat
California Regional Multiple Listing Service (CRMLS) announced on Monday that it has entered into an agreement with WellcomeMat, the creators of a video platform for real estate companies and professionals. The deal will bring hosted video support and video analytics to all brokerages and users of CRMLS data. The WellcomeMat integration offers a brand-new video toolset for CRMLS users within each of the listing Add/Edit suites they use.
David Lykken gives an inside look at the wisdom he's bringing to Gathering of Eagles Original
Your network of peers across the industry is never more important than during a tight market. Brokers, agents and real estate leaders must all lean on their colleagues on the mortgage and title side to win business. One such mortgage colleague is David Lykken. Lykken is the president, founder and chief transformational officer at Transformational Mortgage Solutions (TMS).
Leadership lessons learned from a 40-year real estate career
It was Friday, March 19, 1982. The day was overcast, as I recall, with a cool dampness that's common for Knoxville at that time of year. This date will live in infamy for me, as this was the date I was graduated from the University of Tennessee with a B.S. in Business Administration and a concentration in Management. That was 41 years, 1 month and 10 days ago to the day I'm writing these words. The following Monday, I began my business career at a printing company in Nashville.
Debt ceiling talk kicks off the mid-year Realtor conference
The Realtors Legislative Meetings, the National Association of Realtors' (NAR) mid-year conference, kicked off Sunday in Washington, D.C. with a discussion about the current national debt limit debate - a hot topic throughout the nation's capital.
EasyKnock acquires power buying platform Ribbon
Residential sale-leaseback platform EasyKnock has acquired struggling power buyer and cash offer platform Ribbon. The financial terms of the deal were not disclosed. "We are thrilled to bring Ribbon and EasyKnock's cutting edge financial products together under one roof to provide more options and a competitive advantage to consumers and industry partners nation-wide," Jarred Kessler, the CEO and co-founder of EasyKnock, said in a statement.
Side's Steve Capezza on driving real estate team growth
Today's RealTrending features Steve Capezza, president of Side Real Estate. Steve joined Side in January 2023 after a career with Zillow, most recently with Zillow's Premier Agent program. Tasked with national growth for Side, Capezza talks the power of a teamerage, what brokers should understand about the model, lessons learned from Zillow and the power of community and the initiatives Side is building around that concept. Here is a small preview of today's interview with Steve.
Long Beach-based brokerage Proper Real Estate moves to RE/MAX
More than 70 real estate professionals from Proper Real Estate in Long Beach, California are aligning with . According to an announcement this week, the unaffiliated brokerage is converting to RE/MAX to leverage the worldwide brand and its vast network of real estate professionals. "We wanted to grow at a rapid pace all while having the ability to provide pivotal tools that our agents need to win," Proper Real Estate CEO Paul Natividad said.
RE/MAX resilient amid housing market slowdown
Like other real estate firms, RE/MAX reported weaker financial results during the first quarter of 2023 than it did in Q1 2022, but executives' spirits were buoyed by the overall resilience of the 50-year-old company. "We remain squarely focused on growth and we believe we're positioned for improved U.S. agent count performance in the near term," Steve Joyce, the CEO of RE/MAX Holdings, told investors and analysts on the firm's first-quarter earnings call Friday morning.
What happens when a client becomes a relocating transferee?
It's the dreaded phone call. A person calls out of the blue to inform you that a client you have had for 10 years is part of a relocation program, has become a transferee, and you now owe a giant referral fee on the listing or the buy side. How can this even be? They are MY client. Or, at least they were before their company offered them a new position that provides relocation benefits.
Contract signings may have bottomed out in July
Pending home sales dropped for the second consecutive month in July, recording a 1.0% month-over-month decrease resulting in an index reading of 89.9, according to data released Wednesday by the National Association of Realtors. In May, the index rose slightly to 99.9, but it dropped 8% in June to 90.7. The Pending Home Sales Index has declined for eight out of the past nine months. Year over year, the PHSI was down 19.9%, marking the 14 th consecutive month of annual drops.
A passion for marketing drives Montana broker's success
In the past five years, Montana broker-owner Dawn Maddux has driven Engel & Völkers Western Frontier's dramatic growth in her region's luxury markets. Along with her success in leading the company, she is one of RealTrends + Tom Ferry America's Best Real Estate Professionals and ranked No. 1 in her state in 2021 sales volume. Q: What are some of the milestones in your growth over the past five years? A: I had a strong background in marketing before starting my real estate career in 2010.
Homebuilders pull back as demand cools
New home sales fell for the second consecutive month in July, according to data released Tuesday by the U.S. Department of Housing and Urban Development (HUD)and the U.S. Census Bureau. Sales of new single-family homes in June were at a seasonally adjusted annual rate of 511,000, down 12.6% from June and down 19.6% compared to a year ago. The sales pace is at its lowest level since 2015.
Keller Williams implements 4th round of layoffs
Keller Williams is the latest real estate firm to undergo layoffs. The brokerage confirmed that it laid off 23 employees, or 4.6% of its Austin, Texas, headquarters staff on Thursday. According to one former employee on LinkedIn, the layoffs impacted 75% of the firm's marketing team. Keller Williams's employees were notified about the layoffs via an email from Keller Williams International Realty Chief Operating Officer Sajag Patel sent Thursday afternoon.
eXp Realty promotes Michael Valdes to chief growth officer
eXp Realty has promoted Michael Valdes to Chief Growth Officer. Valdes will lead the eXp Realty and eXp Commercial global expansion efforts, which according to a press release, reinforces aligned growth strategies and leveraging the company's scale to accelerate growth. Valdes joined eXp Realty in 2020 and as President, eXp Global, led 18 global market launches, with at least two more markets expected to launch in 2022.
The market slowdown is slowing down
The housing market slowdown is, well, slowing down. As buyer demand cools, fewer sellers are listing their properties, contributing to a slower rate of price drops, according to a new Redfin report, released Thursday. In the four-week period ending Aug. 14, the number of new listings was down 14% from a year ago, the largest decline since June 2020. As a result, the overall number of active listings during the period fell 0.2% from the prior four-week period.
New agents prepare to weather the market shift
Stacy Pulliam transitioned from her career as a hair stylist and salon owner to the real estate industry at the onset of the COVID-19 pandemic. As industries shut down and the housing market ground to halt, she said there was definitely some trepidation. "It was scary at first, but I've been an entrepreneur since I was in my late 20s. If you let yourself worry too much, you won't accomplish anything, so I had to look for ways to reinvent what I had started doing in real estate," Pulliam said.
The housing market is quickly rebalancing
The market is quickly rebalancing and, after two years of unprecedented growth, home values fell slightly from June to July, according to the latest market report from Zillow. With buyers' purchasing power diminished by nearly two years of double-digit price growth and higher mortgage rates, competition for homes is dropping off. The typical U.S. home value declined by 0.1% ($366) month over month in July and now stands at $357,107, as measured by the raw Zillow Home Value Index (ZHVI).
Existing home sales continued to fall in July
Existing home sales continued to fall in July, as homebuyer demand begins to cool. The seasonally adjusted sales rate for existing homes fell 5.9% month over month in July to a rate of 4.81 million, according to a report from the National Association of Realtors (NAR) released Thursday. This is the sixth consecutive month of declines. On a yearly basis, existing home sales are down 20.2%.
Real estate leaders, be a force of clarity among the chaos
Are you enjoying the remaining summer days while trying to drown out the noise of the various high-stress external factors we're seeing in our industry and world today? It's no secret that tensions are high, a large number of professionals are burnt out - and while some might be wondering if it is ever going to end, others have concluded that this is simply the new normal, as if such could exist in an ever-changing world. It doesn't have to be all doom and gloom.
The future is real estate teams, the pulse of the industry
For years, real estate teams have been something large brokerages have benefited from and also struggled with. Along with high production, came headaches in the form of liability and a drain on resources. The explosion of teams in the last ten years has given credence to the fact that teams are not only an excellent model but produce at a higher rate per capita than an individual agent.
Teresa Howe - Ottumwa Courier: Obituaries
Visitation with family present will be from 10 a.m. until the time of the service Saturday. Memorial services will be at 11 a.m. Saturday at the Bloomfield Tabernacle Baptist Church; Pastor Tom Shipley officiating. Burial of the cremated remains will be at a later date at the IOOF Cemetery in Bloomfield. BLOOMFIELD — Teresa Joy “Terri” Howe, 57, of Bloomfield, died Feb. 8, 2016, at Iowa Methodist Hospital in Des Moines. With your existing account from...
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