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Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman.
This week, Lazine and White are talking about the Keller Williams cold-call settlement, the increase in home price cuts and the weekly media review Left, Middle, Right.
Topic No. 1: The Keller Williams $40M cold-call settlement
According to a recent Inman article, Keller Williams Realty has agreed to pay $40 million to settle a class action lawsuit alleging its agents made unsolicited, pre-recorded calls to consumers without their consent, including to those on the National Do Not Call Registry.
Lazine said that what he doesn’t want to have happen is for agents to fall into the trap of “now I can’t make my calls.” Make your calls, especially to those who have opted in to your content and your mailing list. You’ll put yourself out of business if you fail to follow up with people who are trying to connect with you.
The attorneys for the plaintiffs in this case have filed numerous lawsuits against other companies under TCPA, including Realogy. Those receiving settlements in the case are eligible for up to $20, while the attorneys will make up to $10 million. The takeaway for agents, said White, is that you need to stay professional and follow the Do Not Call list when you make your calls.
Topic No. 2: A jump in home price cuts
According to a recent study, the percentage of homes with price cuts jumped from 7.1 percent in December to 13.6 percent this year. According to Lazine and White, this means that now is the time for sellers to put their homes on the market, before the spring rush hits. As we approach the peak of home prices, sellers should sell now, while inventory is still low.
For buyers, waiting for the spring market may be a good move, especially if increased seller activity improves the inventory picture. In addition, seller concessions are making a comeback, especially for those that have been on the market in November and December. This suggests that there may be opportunities for buyers both now and later in the spring.
Left, Middle, Right
Population declines have a big impact on the economy. In the US, we need population growth, either through immigration or increasing birth rate. Projections for China long term indicate plummeting population numbers, which is bad for multiple aspects of their economy and infrastructure.