This Week's Industry Headlines with Kevin Kauffman & Fred Weaver

Homelight Cash Close

 

Today we announced the launch of HomeLight Cash Close, the first program on the market — designed for you, the agent — enabling your clients to maximize their home sale while removing many of the painful contingencies they experience today. Cash Close includes two sister products aimed at dramatically simplifying the real estate transaction, HomeLight Trade-In and HomeLight Cash Offer.

 

HomeLight Trade-In

You know better than anyone: Buying and selling a house at the same time is a logistical nightmare. HomeLight solves this for its agent partners by purchasing their client's home at a guaranteed price and providing immediate liquidity to put toward their next house.

 

Agent partners who have access to this invitation-only product can earn commission on both the purchase of the client's new home and on the sale of their old one. And the client receives 100% of the upside from the sale of their property. Unlike other iBuying and trade-in solutions, this enables the homeowner to fully maximize their home's value.

HomeLight Cash Offer

 

HomeLight uses its own cash to purchase homes on behalf of your qualified clients and transfers ownership once their mortgage closes. This product has already helped multiple home buyers and agents win negotiations at competitive prices due to the strength of the cash-backed offer.

 

Interested in learning more? Check out Inman's coverage of our announcement and visit HomeLight Cash Close for all the details. We can't wait for you to be part of our vision of a world where every real estate transaction is simple, certain, and satisfying.

 

 

 

Mortgage rates fall to the second-lowest level in three years

This week, the average U.S. fixed rate for a 30-year mortgage averaged 3.51%, dropping to the second-lowest level in three years.

 

The pace is now 95 basis points below the 4.46% rate of the same week last year, according to the Freddie Mac Primary Mortgage Market Survey.

 

 

 

Compass shuffles support staff, anticipates dozens of layoffs

A Compass source told Inman the company still has no current plans for an IPO, although it's not off the table.

The reshuffling will likely result in the loss of several dozen jobs at the growing company, according to a Compass source who indicated that the brokerage is currently advertising approximately 300 job openings — after hiring more than 80 new employees in January alone — and plans to increase its total headcount each month.

 

According to the survey, the 15-year FRM averaged 3% this week, sliding from last week’s rate of 3.04%. During the same time period in 2019, the 15-year FRM came in at 3.89%