News Quiz: Do you know the biggest stories for the week of March 6?
Better mortgage, Engel & Völkers and "Big Portal" all came out of the shadows this week.
In a widely anticipated move, Better sent tremors across social media and the real estate industry with another round of layoffs Tuesday, while Engel & Völkers held its first in-person company-wide conference since the coronavirus hit U.S. shores. Zillow, Redfin and Realtor.com entered the spotlight after new inquiries surfaced over whether the real estate search portals lead to addictive behavior.
It's the end of the week and we're here to determine what was worth remembering during a seven-day period in March.
Variable reinforcement, the principle by which a chosen behavior is reinforced through a variety of random responses, is a strategy that psychologist Raffaello Antonino believes these companies may be using to draw in more customers.
Search portals. The principle of variable reinforcement may be at play with search portals, Dr. Antonino told Inman. It’s rare that a real estate search portal user can find a home that checks off all the boxes of their search requirements, but they’ll continue to find some that check off more boxes than others — and as they’re rewarded by those that do check off more boxes, they’ll be motivated to continue searching. Read the story here.
Real estate agents
Search portals
Mortgage lenders
None of the above
On Tuesday Inman Deputy Editor Andrea Brambila told the story of an agent who did this by mistake, an action captured on Ring camera footage that went viral on TikTok.
Showed the wrong house. A TikTok of an unidentified agent showing the wrong home has gone viral, garnering more than 16 million views. Read the story here.
Showed the wrong house
Ate his client’s last slice of pizza
Dropped a cremation urn
Removed a “For Sale” sign from a neighboring home
According to a study released earlier this week from LendingTree, this state has the highest vacancy rate, at 22.86.
Vermont. Read the story here.
Nebraska
Vermont
Hawaii
California
Lenders approved this much in cash-out refinancings — the highest level since 2005, according to a survey this week from data aggregator Black Knight.
$1.2 trillion. Rising home prices and bargain interest rates gave homeowners an opening to tap $275 billion in home equity last year, as lenders approved $1.2 trillion in cash-out refinancings. Read the story here.
$47.6 billion
$1.2 trillion
$78 billion
$965 million
At least some employees at Better were taken by surprise Tuesday when they learned about the online mortgage lender’s latest wave of layoffs this way.
All of the above. Read the story here.
Severance checks showed up early in the company’s payroll app
Work computers shut off without notice
Word of mouth
All of the above
Lawmakers in this state are working to draft legislation that would make this state the second to limit real estate love letters after Oregon.
Washington. A proposed law that would require real estate agents in Washington state to reject love letters containing discriminatory information appears set to fail, but supporters say they intend to try again. Read the story here.
California
Arkansas
Rhode Island
Washington
Sven Odia, CEO of Engel & Völkers, surprised attendees at Engel & Völkers’ EVX Unlocked conference when he announced the launch of a new line of what on Monday?
Ski equipment. Odia surprised the audience by announcing the brand’s launch of a line of ski equipment, some of which will be donated to the Special Olympics. Read the story here.
Plum dumplings
Boat shoes
Ski equipment
German cutlery
On Tuesday, global luxury brokerage The Agency announced its 31st franchise office in Muskoka. Where is Muskoka?
Ontario. Global luxury brokerage The Agency has announced its 31st franchise office in Muskoka, Ontario, the company told Inman exclusively on Tuesday. Read the story here.
Hawaii
Ontario
Wisconsin
New Zealand
LoanDepot on Thursday announced the launch of a new operating unit that will oversee its customer contact center and a performance marketing engine, which, together, are in contact with 1 million customers a day and distribute more than 10 million leads a
Mello. Read the story here.
DepotToGo
Mello
Contactly
Rhino
According to a story published Thursday on Inman.com, it’s estimated that some 15 million people deal with glossophobia. What is glossophobia?
The fear of public speaking. Read the story here.
The fear of open houses
The fear of real estate
The fear of signing documents
The fear of public speaking
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