Opinion
Uncle Sam Offers a Boost to Fixer-Uppers
By Lew Sichelman | January 24, 2024 | Reprints | Unlock LinkThe Federal Housing Administration is poised to update the 203(k) program, which allows borrowers to purchase a house and include the cost of repairs or rehabilitation in a single mortgage.
You Rarely Know All Your Agent Does
By Lew Sichelman | January 19, 2024 | Reprints | Unlock LinkGood real estate agents go to great lengths to bring a deal to fruition. And much of what they do is behind the scenes, so you’ll never see it. And you think they don’t earn their commissions?
Too Many Agents, Too Little Training
By Lew Sichelman | January 11, 2024 | Reprints | Unlock LinkMost brokerages tend to hire anyone who can fog a mirror, turning them loose with hardly any training other than what they learned to pass their licensing tests. And as a result, the business is overrun with too many agents chasing too few deals.
Home Listings Now an Endangered Species
By Lew Sichelman | December 28, 2023 | Reprints | Unlock LinkIt’s time to place the for-sale existing house on the endangered species list, right alongside the African forest elephant, the Yangtze finless porpoise and other critically threatened varieties.
White House Acts to Boost Housing
By Lew Sichelman | December 7, 2023 | Reprints | Unlock LinkThe Biden administration is taking steps to help create more affordable houses and apartments, including accessory dwelling units, which could help fill the inventory gap that plagues the housing sector.
Homebuilders Ride a Bifurcated Housing Market
By Lew Sichelman | December 1, 2023 | Reprints | Unlock LinkThe existing home market has been stymied – by mortgage rates in the 8 percent range and ultra-low inventory – and it’s created an opening for builders to take credit for double their normal share of sales.
Don’t Put Your Earnest Money at Risk
By Lew Sichelman | November 16, 2023 | Reprints | Unlock LinkAttaching a check to the offer on a house you hope to purchase is thae right way to signal your intentions to the seller. But that means you need to keep your side of the bargain, too.
Buyers’ Agents’ Fate Is Sealed – If They Don’t Prove Their Value
By Bernice Ross | Special To Commercial Record | November 2, 2023 | Reprints | Unlock LinkThis past week’s ruling in one of the two “bombshell” commission lawsuits and Anywhere Real Estate’s and RE/MAX’s earlier settlements in both cases together form a watershed moment that will ultimately force buyer agents to negotiate their commissions directly with the seller and/or their buyer.
Don’t Put Your Earnest Money at Risk
By Lew Sichelman | November 2, 2023 | Reprints | Unlock LinkAttaching a check to the offer on a house you hope to purchase is the right way to signal your intentions to the seller. But that means you need to keep your side of the bargain, too.
How to Buy a House in Other Countries
By Lew Sichelman | October 20, 2023 | Reprints | Unlock LinkIt happens every election cycle: “If that guy wins,” one side or the other vows, “we’re moving to Canada.” It turns out that’s a lot harder than you might think in practice.
Ease of Entry, Big Money Draws Newbies to Real Estate
By Lew Sichelman | October 13, 2023 | Reprints | Unlock LinkAccording to a new report from the Consumer Federation of America, the ease with which people can become licensed in the realty field is shocking.
A Mechanic’s Lien Could Stop a Future Sale
By Lew Sichelman | October 4, 2023 | Reprints | Unlock LinkEvery homeowner who is considering hiring a contractor to do some work in or around their house should become familiar with the mechanic’s lien laws in their home state.
Ways Agents Can Stop Paying for Leads
By Bernice Ross | Special To Commercial Record | September 21, 2023 | Reprints | Unlock LinkBefore forking over 40 percent of your commission, try working with a few of these ideas to obtain high-quality leads at a fraction of the price you’re currently paying for leads.
Real Estate Still Proves Fertile for Fraud
By Lew Sichelman | May 4, 2023 | Reprints | Unlock LinkI hate to keep beating a dead horse – but then, real estate fraud is far from a dead horse. In fact, people are being taken in by crooks more than ever.
Common Real Estate Questions that ChatGPT Gets Very Wrong
By Bernice Ross | Special To Commercial Record | May 4, 2023 | Reprints | Unlock LinkSome in the real estate industry are arguing that AI answers to lead-qualifying and simple questions from buyers and sellers are a far more accurate, dependable and inexpensive than dedicated phone staff. Nothing could be further from the truth.
Money Does Grow on Trees, After All
By Lew Sichelman | April 27, 2023 | Reprints | Unlock LinkEvery parent, myself included, who has uttered the immortal words “money doesn’t grow on trees” was dead wrong, at least when it comes to residential real estate.
Tenants Face Numerous ‘Junk Fees’
By Lew Sichelman | April 20, 2023 | Reprints | Unlock LinkWhen it comes to junk fees, nobody can hold a candle to landlords. Not even mortgage lenders. Now, the Biden administration is pushing landlords to cut back these charges.
Home Prices Rose Little, But Made Big Contribution to Inflation
By Lew Sichelman | April 13, 2023 | Reprints | Unlock LinkIn February, overall house prices registered their smallest year-over-year gain since September 2021. Even so, housing’s share of the Consumer Price Index rose at an accelerated pace.
Home Warranties Called ‘Lousy Deals’
By Lew Sichelman | April 6, 2023 | Reprints | Unlock LinkIn a recent – and unusually puffy – puff piece in a pay-to-play real estate publication, two agents sang the praises of home warranties. But in truth, home warranties are not warranties at all. They’re service contracts.
Fraud, Fraud, Everywhere Fraud
By Lew Sichelman | March 30, 2023 | Reprints | Unlock LinkWhile late-night TV scams and robocall schemes are coming under increased scrutiny by state and federal officials, new real estate-related swindles continue to come to light.
