U.S. Mortgage Rates Hit Historic 50-Year Record Low in Early March

WORLD PROPERTY JOURNAL | March 06, 2020

According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage in the U.S. averaged the lowest rate in our survey's history which dates back to 1971. The average 30-year fixed-rate mortgage hit a record 3.29 percent this week, the lowest level in its nearly 50-year history. Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down," said Sam Khater, Freddie Mac's Chief Economist. "Given these strong indicators in rates and sales, as well as recent increases in new construction, it's clear the housing market continues to be a positive force for the broader economy.

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REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING

8Twelve Signs Mortgage Solution Agreement with Your Home Sold Guaranteed Realty

8Twelve Mortgage and Your Home Sold Guaranteed Realty | January 31, 2023

On January 30, 2023, 8Twelve Financial Technologies Inc. informed that it has agreed to supply mortgage solutions to Your Home Sold Guaranteed Realty (YHSGR), as well as to the company's agents and clients. The patented INFIN8 platform developed by 8Twelve uses real-time analytics, artificial intelligence, and workflow automation to select the optimal mortgage from the largest marketplace in Canada for bank, alternative, and private mortgage products. Todd Walters, CEO and Co-Founder, said, "At Your Home Sold Guaranteed Realty, we invest in our agents more than any brokerage you will find." He added, "Partnering with 8Twelve fits our model perfectly because we consistently equip our agents with differentiating tools that help them to build their business and dominate in the industry. This partnership ensures that YHSRG realtors have the best tool to secure financing for their deals." (Source – GlobeNewswire) When it comes to real estate, YHSGR is the only company in the United States and Canada licensed by the top real estate coach in the two countries, Craig Proctor. That's because only YHSGR agents have access to Craig Proctor's secret business strategies, which have helped more of them become millionaires than any other real estate trainer or coach. Akber Abbas, President and Chief Information Officer of 8Twelve, remarked, "With rising interest rates and tighter lending requirements, Canadians now more than ever need to know all their home financing options." "This agreement highlights the strength of our service offering in enabling large-scale enterprises to deliver the best financing solutions to their clients," he concluded. (Source – GlobeNewswire) About 8Twelve 8Twelve Mortgage Corp., based in Toronto, helps people all over Canada get the money they need for various financial projects, such as refinancing, renewal, debt consolidation, and more. The mission of 8Twelve is to make house ownership a reality for happy Canadians. The organization also provides clients with clear and extensive explanations, regular updates on their loan progress, and the chance to submit feedback throughout the mortgage loan process. About YHSGR Your Home Sold Guaranteed Realty (YHSGR) was established to become the best place in the real estate industry to work, buy, and sell a property. The company takes great pride in being one of the real estate companies in the country experiencing the most rapid growth. YHSGR assists with every aspect of the real estate transaction, whether one wants to buy or sell a home.

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BROKERAGE, REAL ESTATE TECHNOLOGY

United Real Estate Franchises Partner to Offer New Brokerage Model in Charleston

United Real Estate | February 20, 2023

In Charleston, a unique real estate residential model is being introduced by two United Real Estate franchise owners who have partnered. The new model is unlike traditional brokerages, their office provides training, award-winning technology, and brokerage support without charges as a commission split from the agents. For Winston Velpula and Brenda Daly, the co-owners, Charleston was an obvious choice with tremendous opportunities in the city. With a flourishing economy propelled by the presence of Fortune 500s and prominent employers, Charleston boasts numerous well-compensated employment opportunities. Additionally, the city's income per capita exceeds the national average by 4%. Furthermore, the city's metropolitan population of 800,000 contributes to a robust real estate market, which some consider nearly impervious to economic downturns. Daly and Velpula know how to develop informed professionals with skills to achieve clients' goals. United | Charleston offers thorough agent training, focus, skill, and service development. Real estate agents are taught to do their research to make sure the property and its surrounding area are a good fit for a client. Marketing plans are modified to reach more buyers and develop more valuations based on competitive research. The office is in Mount Pleasant, off state highway 17, at 735 Johnnie Dodds Blvd., Suite 100. About United Real Estate United Real Estate is a division of United Real Estate Group, established in 2011, and aims to solve the challenges agents and brokers face in maintaining profitability in a competitive marketplace. With its agent-centric model, brokers can provide their agents with scalable technology solutions that reduce delivery costs as their businesses expand without having to split commissions. In addition, the company offers updated training, marketing, and technology tools to brokers and agents under a transaction-based agent commission model. United Real Estate, based in Dallas (Texas), operates in 32 states with 148 offices and around 18,000 agents. The company's sales volume for 2021 was more than$21.5 billion.

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MARKET OUTLOOK, REAL ESTATE TECHNOLOGY

Addressable’s New SmartCopy Automates Real Estate Marketing by Using GPT-3

Addressable | March 15, 2023

On March 14, 2023, an end-to-end marketing solution provider Addressable, announced SmartCopy, that helps generate copy as a part of the company's card-writing platform. The new tool, SmartCopy, is powered by Open AI's GPT-3 to generate real estate marketing copy. SmartCopy is designed to assist real estate agents in attaining listings through outreach with personalized handwritten mail by creating AI-generated letter copy. The feature generates highly customized and compelling marketing messages using Addressable's real estate performance data and GPT-3's powerful natural language processing capabilities. SmartCopy offers benefits and features, including the ability to generate personalized messages at scale, highly customized content for real estate marketing and improved efficiency and effectiveness in acquiring listing appointments. The tool is now available for new and existing customers on the company's website. Co-Founder and CEO at Addressable, Christopher Tosswill, said, "Addressable has always been committed to providing innovative solutions to help our customers grow their businesses. SmartCopy is a perfect example of this commitment." He added, "This feature will enable real estate agents to generate highly personalized marketing messages at scale, helping them acquire more listing appointments and grow their businesses." (Source – Business Wire) About Addressable Addressable is a cutting-edge technology company offering a unique real estate marketing solution. Established in 2019, the Los Angeles, California-based company has provided innovative tools to assist real estate agents in their sales efforts. The company's patented robotic technology generates personalized handwritten letters, enhancing the customer experience and driving engagement. Its management team comprises experienced professionals, including former product manager at Facebook Christopher Tosswill and former Task Rabbit and SnowFlake Director of Engineer Mark Weaver, who bring a wealth of expertise. In addition, its innovative platform has proved to be a game-changer in the real estate industry, assisting agents in 44 states in generating over $1.5 billion in home sales since 2020.

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