Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Real EstateBrokerage

Are U.S. real estate commissions illegal?

The Justice Department and private lawyers are zeroing in on real estate commission rates. But industry leaders are unfazed.

HW+ Jack Ryan, CEO of residential brokerage REX
Jack Ryan, CEO of residential brokerage REX

This is Part Two of Three in HousingWire’s dive into all matters residential real estate commissions. Part one looks at how we got here. Part three looks at what’s next. 

Wearing a rolled up checkered-shirt, gesticulating wildly with one arm, 61-year-old Jack Ryan is an unlikely torchbearer to storm the gates of the residential real estate establishment, and its 5% average real commission on home sales. 

Ryan – who is not to be confused with the fictional Ryanverse created by Tom Clancy – gained fleeting national attention in 2004 when he secured the Republican nomination for a vacant U.S. Senate in Illinois.

He had made millions of dollars as a banker at Goldman Sachs, quit that firm to become a Chicago school teacher, and was set to take on Democratic nominee Barack Obama. But court records from Ryan’s divorce were unsealed in which Ryan’s ex-wife, the actress Geri Ryan, accused him of pressuring her to visit sex clubs. The fallout was enough for Ryan to drop out of the race.

Ryan became an entrepreneur. He started 22nd Century Media, a hyperlocal news company to serve the Chicagoland area that folded last year. But Ryan had already left 22nd Century Media in 2015 to start the Austin, Texas-headquartered residential brokerage Real Estate Exchange, or REX.

Now, the word “disruptor” is cliché in business. But if there ever was a company with a deliberately disruptive business strategy, REX is it. They file lawsuits against the industry’s biggest players – the National Association of Realtors, Zillow – and feed the U.S. Justice Department information, so they can also sue the NAR.

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