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DataDigest: Will Work For Housing

A secondary school teacher in Colorado makes on average just under $63,000, according to the Bureau of Labor Statistics. If a Colorado teacher making the average salary had $20,000 to put towards a down payment and were willing to spend 30% of their pre-tax salary on their mortgage payment, she

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Reffkin Trades In Compass Stock For $7M Cash Bonus

The new year is bringing some major changes to Compass CEO Robert Reffkin’s compensation plan. According to a document filed last week with the Securities and Exchange Commission, Reffkin is relinquishing $25 million in performance-based restricted stock unit awards in exchange for a $7 million cash bonus. In addition, his

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Mortgage Demand Slumps Over The Holidays

Mortgage demand fell over the holidays despite declining mortgage rates. Mortgage applications decreased 9.4% for the week ending Dec. 29 compared to two weeks earlier, according to data from the Mortgage Bankers Association (MBA). The 30-year fixed mortgage rate closed 2023 at 6.76%, more than one percentage point lower than

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5 Listing Appointment Mistakes To Avoid

What should you avoid saying or doing on a listing presentation? Whether you’re presenting to a good friend, a referral client or a colder lead, there are some universal mistakes you must avoid if you want to take the listing. The good news is that all of these things are

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Here’s How Brokerage Valuation Works

Valuation in the residential brokerage industry has some characteristics that are unique when compared to other industries and businesses. First, the business of residential brokerage is highly dependent on the recruiting, retention and production of independent contractor sales agents. Brokerage firms are not producing goods on a factory line —

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