‘We Are One Family’: Real Estate Community Bands Together for Harvey Relief

By Susanne Dwyer

With Hurricane Harvey rescue efforts underway in Southeast Texas, REALTORS® from all corners of the country are stepping up to provide relief.

The National Association of REALTORS® (NAR) is encouraging its members to donate to the REALTORS® Relief Foundation (RRF), which provides housing assistance for disaster victims.

“There will be many families in the Greater Houston area who need our help,” said NAR President Bill Brown in a statement. “It will take time to know the full impact of Hurricane Harvey, but we know the devastation will be widespread and that our support will be necessary.”

“This may require our REALTOR® family’s largest effort since Hurricane Katrina—or even 9/11,” wrote Martin Edwards, president of the RRF, in an internal memo to NAR directors and staff. “Hopefully, REALTORS® across America will heed the call to donate without precedent, as the on-the-ground membership in Texas will be stretched beyond belief.”

Indeed real estate brokerages directly in and surrounding the path of the storm as well as from around the country are extending support. Local brokerages including Coldwell Banker D’Ann Harper, REALTORS®, ERA Colonial Real Estate and Latter & Blum, Inc. REALTORS® shared some of their experiences.

Many affiliates of D’Ann Harper steered their boats toward Houston to help rescue stranded residents, says President Leesa Harper Rispoli, and the company is working to transport much-needed supplies, as well.

“Our company is working with the Red Cross and pet/animal shelters for donations,” Harper Rispoli says. “We have had several agents team together and take their boats to Houston to assist in the water rescue. We also have had many offices and agents come together to take supplies to the Port Aransas and Rockport area.

“This catastrophic event has affected not only our agents and families, but several of our sister companies along the coast,” says Harper Rispoli. “Our great franchisor of Coldwell Banker has pledged to match donated funds for our sister companies to rebuild. It is great to be surrounded by support and giving hearts. We believe we are one family…together!”

ERA Colonial launched a fundraiser for the Houston Food Bank, with the goal of raising $7,700—a cause, and sum, near and dear to CEO Tom DeWine’s heart.

“The Houston Food Bank is such a local and longstanding group, and I wanted to make sure we focused on something that was very local,” DeWine says. “We set a relatively modest goal—I picked a zip code that I had lived in when I was in Houston in the late ’90s, and when I knew that a lot of flooding was occurring [there], I set the first four numbers of that zip code, 7700, as the goal.”

ERA Colonial has achieved approximately 38 percent of its goal (at press time), and will match up to 50 percent of donations, with net proceeds going to the Houston Food Bank. The fundraiser is open now through the next two weeks on YouCaring.

The company is also lending a hand through an upcoming philanthropic event, its 19th Annual Fish Fry and 5K Fun Run Walk, …read more

From:: Real Estate News

Instagram confirms hack that could be behind Bieber nude photos

At least one hacker stole personal information, including phone numbers and email addresses, from high-profile user accounts, Facebook Inc.’s Instagram said late Wednesday. The hacker or hackers exploited a bug in the system that has since been fixed, Instagram said. No account passwords were exposed and Instagram is “running a thorough investigation,” the spokesperson added. The company believes the hack targeted the high-profile users and “out of an abundance of caution” is notifying verified account holders. Earlier this week, the account of celebrity singer and actress Selena Gomez was hacked, and several nude photos of fellow celebrity Justin Bieber were posted on her account.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Expedia names CFO Mark Okerstrom its next CEO

Expedia Inc. said late Wednesday its board of directors has approved the appointment of Mark Okerstrom, currently chief financial officer and executive vice president of operations, to succeed Dara Khosrowshahi as president and CEO of Expedia. Okerstrom will also join Expedia’s board. Khosrowshahi was named Uber Technologies Inc.’s CEO earlier this week. He will continue to be a member of Expedia’s board, the company said. “Prior to Dara leaving, Mark Okerstrom was his principal partner in operating the company — and therefore this transition is as natural as water flowing down a snow-packed mountain. There was no other candidate that the Board considered,” chairman Barry Diller said in a statement. Shares of Expedia rose 0.2% in the late session after ending the regular trading day down 0.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Direct homebuyer Opendoor getting into mortgage business

Late last year, Opendoor, an online marketplace that buys homes directly from homeowners, announced that it raised $210 million to fund the company’s expansion beyond the two markets where it initially launched. The company currently operates in Phoenix and Dallas-Fort Worth, but back said that it planned to expand to 10 new markets this year. As it turns out, that’s not the only way that Opendoor plans to expand; the company is also getting into the mortgage business. …read more

From:: Real Estate Wire

The Verdict Is In: Agent Loyalty Is Out – Now What?

By Susanne Dwyer

Your top producers are your prized commodity but is loyalty the end game? Are your retention efforts working and worth the investment? Some of the most powerful and successful real estate leaders will present their strategies at RISMedia’s 2017 Real Estate CEO Exchange, “Growing Your Business in Unpredictable Times,” taking place Sept. 12-13 in New York City, in a special session, “The Verdict Is In: Agent Loyalty Is Out – Now What?”

The session will cover recruitment and retention, with a focus on how brokers are maximizing their agent forces today to ensure profitability for all, with insight from moderator Joe Rand, chief creative officer, Better Homes and Gardens Real Estate Rand Realty; Neil Cresswell, co-founder/president, Sellstate Realty Systems; Michael Mahon, president, First Team Real Estate; Penny Nathan, co-founder/president/CEO, Ascent Real Estate; Richard “Dicky” Mopper, broker/owner, Engel & Völkers Savannah; and Felicia Hengle, president of Ohio Operations, Coldwell Banker Schmidt Family of Companies.

RISMedia’s 2017 Real Estate CEO Exchange is an exclusive, day-and-a-half-long event at the prestigious Harvard Club of New York City that will share strategies for increasing business and operating a profitable company despite headwinds such as changing regulations, low inventory and student loan debt.

RISMedia will be hosting a new networking opportunity for attendees at this year’s event: the CEO Exchange Welcome Dinner, a three-and-a-half-hour sunset tour around Lower Manhattan aboard the elite, private yacht Atlantica. Don’t miss this unforgettable experience with unparalleled views of New York City!

Visit the CEO Exchange event page to view the full agenda and speakers.

RISMedia’s Real Estate CEO Exchange is by exclusive invitation only. For more information, please contact Randi Vannucchi, randiv@rismedia.com or (203) 523-3754.

RISMedia’s 2017 Real Estate CEO Exchange is sponsored by:

Platinum Level
Homes.com
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Master Level
American Home Shield
Berkshire Hathaway HomeServices
Better Homes and Gardens Real Estate
CENTURY 21® Real Estate
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Quicken Loans®
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Host Level
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For the latest real estate news and trends, bookmark RISMedia.com.

The post The Verdict Is In: Agent Loyalty Is Out – Now What? appeared first on RISMedia.

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From:: Real Estate News

Jump in Default Risk on New Mortgage Originations

The risk of default on new quarterly mortgage originations turned significantly higher as production plunged, though seasonal factors played a role.

On the $323 billion in single-family loan originations during the first-three months of this year, the weighted-average probability of default was 1.11 percent.

That was according to the Default Risk Index, which was 95.8. The index is a measure of relative changes in risk level and benchmarked against the third quarter of 2013.


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From:: Financing

Collaborating for Success in Southern Luxury

By Susanne Dwyer

Morar_Spears

In the following interview, Destin, Fla.-based Scenic Sotheby’s International Realty Founder/Co-Owner/Broker Blake Morar and Top 250 Agent for Sotheby’s U.S. Jonathan Spears discuss marketing luxury, including through social media and video, and more.

Number of Offices: 3
Number of Agents: 42
Region Served: Destin, Fla.

How did you first get into real estate, and what led you to Scenic Sotheby’s Intl. Realty?
Blake Morar:
I graduated from college in 1996 and explored various sales positions in pharmaceuticals, but I always loved real estate. My first closing was in 1997. I bought the company in 1999—the owners were looking to get out of the business, but I believed in it and continued to grow the company. Sotheby’s approached us in 2010, and we were curious to learn more. As our market became more sophisticated, and developed, the Sotheby’s brand became relevant. We became part of the Sotheby’s brand in January 2014.

Jonathan, when did you join the firm?
Jonathan Spears:
I got into real estate right after the BP oil spill, so I was knee-deep in the recession here focusing on the foreclosure side. I wanted to get more focused on luxury real estate and have the opportunity to help customers in a way that I hadn’t seen before. I really wanted to tap into a firm and a market that could help me grow my business and my customer base. I joined the firm in January 2015.

What sets your firm apart in the marketplace?
JS:
One way we set ourselves apart is our investment in videography. We tap into our local producers and parlay it through the brand exposure that Sotheby’s provides. Through our YouTube page alone, we’ve got videos with 200,000 views. Our ability to take a property and tell a story is so important, and having that channel to leverage is everything.
BM: When we met with Sotheby’s, we could tell they had that marathon mindset versus a sprint mindset. The power of their marketing exposure and how that translates to qualified leads and happy sellers exceeded our expectations.
JS: We have a pretty incredible buyer database. I’ll bring a property to a sales meeting pre-market and find a buyer for it.

What’s your unique value proposition for agents?
BM:
We support our agents’ marketing efforts and treat our agents like clients. We’re arming them with the ability to handle their own clients, and part of that involves our collaborative culture. We provide a very engaging, very interactive environment, and our agents and their peers help advance that scenario.

What are the particular needs of your clientele?
JS:
My customers require 24-hour service and constant availability. A lot of them become like family because of the constant communication. Meeting their demands and being available is so important.
BM: When dealing with the upper end of the market, we’re the boots on the ground for them. Ultimately, they’re looking for results, and we need to make sure our marketing machine is in shape, along with our systems and processes.

How do you creatively market the firm and its listings?
BM:
We’re always looking for …read more

From:: Real Estate News

Workday share gain fizzles after earnings beat

Gains for Workday Inc. shares fizzled late Wednesday after the finance and human resources software company reported fiscal 2018 second-quarter earnings well above Wall Street expectations and raised its 2018 outlook. Workday said it lost $82,532 in the quarter, or 40 cents a share, compared with $107,813, or 55 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 24 cents a share in the quarter, versus a loss of 4 cents a share a year ago. Total revenues rose 41% to $525.3 million, from $373.7 million in the second quarter of fiscal 2017. Subscription revenue rose 42% to $434.5 million. Analysts polled by FactSet had expected adjusted earnings of 15 cents a share on sales of $507 million. Workday also raised its fiscal 2018 outlook, saying it expects subscription revenue of $1.750 to $1.757 billion, or 36% growth. For the third quarter, the company called for subscription revenue between $450 million and $452 million, or growth of 33% to 34%. The analysts surveyed by FactSet expect subscription sales around $435 for the quarter. Shares were down 0.2% after a rise of more than 2% immediately after the earnings report.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

H&R Block shares slide 8%; management declines to offer update of plans on earnings call

Shares of H&R Block Inc. slid 8% Wednesday to lead S&P 500 decliners, after the tax preparer failed to offer a full update of strategy or plans for the 2018 tax season on its earnings conference call. The company late Tuesday posted a slightly wider-than-expected loss for its fiscal first quarter. H&R Block said it lost 63 cents a share, against a 62 cents-a-share consensus. Revenue rose 10% to $138 million, primarily on increased U.S. assisted tax preparation fees and revenues from the company’s Peace of Mind service plan. Analysts polled by FactSet had expected sales of $129 million. The first quarter typically represents less than 5% of annual revenues and less than 15% of annual expenses. Interim CEO Thomas Gerke welcomed new CEO Jeff Jones, who was appointed last week to take the helm in October. But he said the company’s strategy remains unchanged, and declined to offer detailed guidance for the next tax season. Analyst Jeffrey Silber at BMO Capital Markets said the numbers were in line in a seasonally light quarter. “We would not read too much into these results,” he said in a note late Tuesday. Shares have gained about 17% in 2017, while the S&P 500 has gained about 10%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News