- The recent settlement over agent compensation with trade group National Association of Realtors (NAR) has the potential to completely change the housing industry.
- Many agents may leave the industry because of this change in commissions, making it imperative that lenders build relationships with agents who will outlast a possible exodus.
- CoreLogic’s Market Intelligence solution provides critical information on agent performance, allowing lenders to build and nurture relationships with top performers.
NAR Settlement May Set Off Seismic Shift in the Industry
On March 15, NAR reached a settlement over home-seller claims that the real estate industry purposefully kept agent commissions too high. The $418 million agreement potentially makes it easier for homebuyers to forgo using agents or negotiate fees, which may depress agent commissions and prompt many professionals to leave the real estate industry.
It is imperative for mortgage lenders to refine their strategic approach in a rapidly changing and uncertain landscape that is often informed by limited insights. According to a 2023 NAR statistic, there are more than 1.5 million real estate agents across the U.S., and the difference between identifying top-performing real estate professionals and average ones is crucial for sustaining and growing origination volumes.
Leverage CoreLogic’s Market Intelligence to Navigate Housing Uncertainties
CoreLogic’s Market Intelligence solution enables clients to navigate changing housing market dynamics and uncertainties with confidence. Market Intelligence offers an unparalleled suite of analytics and insights, designed to aid mortgage lenders in identifying and building relationships with the industry’s top-performing agents.
Market Intelligence helps lenders gain a comprehensive view of evolving housing market dynamics, track emerging opportunities and pinpoint potential challenges. Market Intelligence’s dashboard offers an in-depth analysis of market position and underserved regions across the United States, while its detailed profile pages provide a granular look at the top loan officers and real estate agents who have learned to navigate market headwinds and uncertainty.
Market Intelligence’s data covers 80% of active listings and gives CoreLogic uniquely detailed insights into the challenges that lie ahead for the real estate industry. As the housing market undergoes significant shifts following the NAR settlement, CoreLogic’s data-driven insights help lenders foster strategic relationships, adapt to the changing landscape, maintain a competitive edge and ultimately drive their origination volumes upward.
To learn more about how CoreLogic’s Market Intelligence solution can help your business, visit this home page.
