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Online brokerage Homie lays off nearly a third of its employees: A company spokesperson confirmed that 119 of Homie’s 414 employees were laid off on Friday due to a ‘changing real estate market’. Read more
How mortgage rates hit 4% ahead of schedule, flummoxing forecasters: Bond market investors, not Fed policymakers, exert the strongest immediate pull on markets that drive mortgage rate trends. Read more
Zillow’s ‘audacious’ plan? Double Premier Agent business by 2025: After shuttering Zillow Offers, the company is going back to its agent lead gen roots, according to Mike DelPrete. It’s looking for an additional $1.5B to be paid by real estate agents. Read more
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Farming: A marketing technique used by many successful real estate agents to develop business in a specific area or market demographic. They “farm” the area for leads and contacts, as the name suggests.
Sphere: Refers to Sphere of Influence. The key to your success and potential in the real estate industry. It’s quite simply the set of all of the people you know. This includes the people you’ve known all your life, but also your loose connections and acquaintances.
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Music by: Gloria Tells from Epidemic Sound