Despite the still-challenging rate environment, some homeowners might opt to bite the bullet and give up their low rate to move, according to a Redfin study.   

Nationwide, the share of homeowners with relatively low rates has fallen modestly from a record high of 92.8% in mid-2022. In the third quarter of 2023, 88.5% of U.S. homeowners with mortgages had an interest rate below 6%.

To conduct this study, Redfin analyzed data from the Federal Housing Finance Agency’s National Mortgage Database as of the third quarter of 2023. 

Many homeowners choose to sell because of major life events, such as a marriage, a new child, a new job, or a divorce. Others simply want to move to a different house or city. Another reason explaining why the share of homeowners with relatively low rates has dipped is that some homeowners have a rate above 6%. For repeat buyers and first-time buyers who entered the market in 2022, the average mortgage rate was above 6%. As rates are currently declining, it makes sense for them to get a new mortgage.

The lock-in effect is still real but listings are starting to tick up

Declining mortgage rates appear to have helped the inventory situation somewhat. The 30-year fixed-rate mortgage averaged 6.66% as of Jan. 11, down from a peak of roughly 8% in October. 

“Sellers have started coming out of the woodwork because that’s typical for January and because mortgage rates have dropped,” David Palmer, a Redfin Premier real estate agent in Seattle, said in a statement. “They’re also coming to terms with the fact that rates aren’t going back down to 3% any time soon, which makes it easier to pull the trigger on selling. But a lot of sellers are worried about finding their next house because even though listings are rising, there’s still a housing shortage. That’s part of the reason so many sellers remain on the sidelines.”

Of course, there’s a group of homeowners who are sitting on enough equity to justify selling their home and taking a higher mortgage. As prices soared during the pandemic, many homeowners made a big profit on their purchase. Taking a new mortgage now can make even more sense if the homeowners wish to downsize or move to a more affordable area. As of the third quarter of 2023, 88.5% of mortgaged U.S. homeowners have a rate below 6%, 78.7% below 5%, 59.4% below 4%, and 22.6% below 3%.

Affordability remains an issue even if mortgage rates started to trend down

For the four weeks ending January 7, 2023, the monthly payment on a median-priced U.S. home with an average mortgage rate of 6.62% cost $2,399. While that figure is down $325 from the all-time high in 2022, it’s still up 7.4% from a year ago. Overall, both mortgage rates and home prices are higher than they were last year.



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What’s the secret to nurturing leads and turning them into loyal clients? It’s a high-functioning customer relationship management (CRM) tool with robust features, integrations and automation. As your real estate business expands, nurturing your growing client base inevitably leads to a need for improved communication. The best real estate CRM solution is the one that will manage your client interactions, increase the number of touchpoints with each client, and convert leads seamlessly into buyers and sellers.

Below, we take a deep dive into the best real estate CRM solutions for solo agents, teams and brokerages. We tailored the list to suit every need — from the most feature-rich platforms to cost-effective options for those just starting out. We looked for features like task automation, pipeline management and integration with other commonly used tools.

Whether you’re a newly licensed agent or leading a large-scale operation, these CRMs can help turn everyday challenges into opportunities for growth and success.

11 best real estate CRMs for 2024

Best for lead gen & nurturing

Market Leader

Jump to Details ↓

Visit Market Leader

Best for mid-level agents

Top Producer

Jump to Details ↓

Visit Top Producer

Best for maximizing productivity

RealGeeks

Jump to Details ↓

Visit RealGeeks

Best for AI Lead Generation

LionDesk

Jump to Details ↓

Visit LionDesk

Best for scoring new leads

Propertybase

Jump to Details ↓

Visit PropertyBase

Best for custom integrations

Follow Up Boss

Jump to Details ↓

Visit Follow Up Boss

Best for tracking ROI

Sierra Interactive

Jump to Details ↓

Visit Sierra Interactive

Best for nurturing relationships

IXACT Contact

Jump to Details ↓

Visit IXACT Contact

Best budget-friendly option

Realvolve

Jump to Details ↓

Visit Realvolve

Best for solo agents & small teams

Wise Agent

Jump to Details ↓

Visit Wise Agent

Best for brokerages

CINC

Jump to Details ↓

Visit CINC

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11 best real estate CRMs for 2024


BEST FOR MANAGING LEADS

Market Leader

Jump to Details ↓

Visit Website


BEST FOR MID-LEVEL AGENTS

Top Producer

Jump to Details ↓

Visit Website


BEST FOR MAXIMIZING PRODUCTIVITY

RealGeeks

Jump to Details ↓

Visit Website


BEST FOR AI LEAD GENERATION

LionDesk

Jump to Details ↓

Visit Website


BEST FOR SCORING LEADS

Propertybase

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Visit Website


BEST FOR CUSTOMIZED INTEGRATIONS

Follow Up Boss

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Visit Website


BEST FOR TRACKING ROI

Sierra Interactive

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Visit Website


BEST FOR NURTURING RELATIONSHIPS

IXACT Contact

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Visit Website


BEST FOR A SOLID BUDGET-FRIENDLY OPTION

Realvolve

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Visit Website


BEST FOR INDIVIDUAL AGENTS AND SMALL TEAMS

Wise Agent

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Visit Website


BEST FOR BROKERAGES

CINC

Jump to Details ↓

Visit Website


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Market Leader logo; a real estate CRM or customer relationship management software

Market Leader

Best for lead generation & nurturing
Starting Price: $189 per month, with additional costs for leads (about $25 each) and extra seats at $89 per month

Visit Market Leader

Who it’s for

Established agents and brokerages needing both a robust CRM and a steady flow of leads.

Why we picked it

Market Leader integrates powerful lead generation with a high-functioning CRM, making it a standout choice for agents focused on expanding their lead pipeline and nurturing leads effectively.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Mobile-friendly design
    • Delivers a guaranteed volume of leads monthly
    • Fully functional CRM with excellent automation options
    • Scalable for teams and brokerages

    Cons:

    • Lacks advanced analytic features
    • Included website can feel a little clunky

  • Notable features

    • Network Boost service for targeted leads
    • Automated nurturing via text alerts and drip campaigns
    • Integration with various real estate lead sources
    • Website activity tracking to monitor which properties contacts view or save
    • Lead conversion action plans

Top Producer logo; a real estate CRM or customer relationship management software

Top Producer

Best for mid-level agents
Starting Price: $109 per month for one user

Visit Top Producer

Who it’s for

Best suited for mid-level agents, teams, and brokerages looking to upscale their business and boost Gross Commission Income (GCI).

Why we picked it

Top Producer stands out for its extensive lead generation options and its ability to simplify and automate workflows, making it a great choice for those ready to scale their businesses.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Customizable, attractive dashboard for easy navigation
    • Market Snapshot tool provides up-to-date market intel to clients
    • Wide range of lead generation options to cater to different needs
    • Reported to have good customer service

    Cons:

    • Limited integration with the provided agent website
    • Automation options could be better

  • Notable features

    • Social Connect service for automated social media ad creation and lead generation
    • Smart Targeting using AI predictive analytics to identify potential sellers
    • FiveStreet automatic lead follow-up tool for quick response to generated leads
    • Comprehensive transaction management tools with a visual timeline for each transaction
    • Social Connect feature automates social media ad creation, streamlining lead generation

Logo-Real-Geeks

RealGeeks

Best for maximizing productivity
Starting Price: $299 per month

Visit RealGeeks

Who it’s for

Suitable for single agents, teams, and brokerages looking for a comprehensive marketing and website solution to scale their business effectively

Why we picked it

RealGeeks offers a dynamic CRM as part of an affordable, all-inclusive platform that includes lead gen, IDX-enabled websites. Its CRM offers real-time client activity monitoring, advanced search filtering, immediate notifications, and social profile integration — all designed to enhance agent productivity. The RealGeeks CRM was developed using industry research and customer feedback. Along with its full array of real estate agent tools (IDX websites, property valuation tool and more), RealGeeks truly are the “real” ones helping you optimize your real estate workflows.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Live feed feature allows agents to monitor real-time activity, identifying active leads for timely contact
    • Advanced search filtering based on various criteria, including user behavior and geographic areas, for targeted follow-ups
    • Immediate email and SMS notifications when leads enter the system, enabling quick response
    • Automatic discovery of leads’ social profiles, aiding in more personalized engagement

    Cons:

    • No free trial

  • Notable features

    • Customizable to optimize real estate workflows
    • Real-time activity monitoring for immediate lead engagement
    • Comprehensive lead filtering options
    • Integrated notifications for prompt follow-ups
    • Social media integration for enhanced lead understanding and engagement
LionDesk logo; a real estate CRM or customer relationship management software

LionDesk

Best for AI Lead Generation
Starting Price: $25 per month, billed annually

Visit LionDesk

Who it’s for

Real estate professionals and brokerages seeking a user-friendly, feature-rich CRM with unique add-ons.

Why we picked it

LionDesk excels in providing fundamental CRM features along with innovative additions like video messaging and AI assistant Gabby. Its commitment to continuous product upgrades and responsive customer service also sets it apart.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Easy-to-use interface
    • Stellar mass communication tools, including bulk text messaging
    • Customizable lead profiles and AI-driven lead follow-up
    • Integrated dialer for easy calling

    Cons:

    • Robust options might be overwhelming to some
    • Basic transaction management features
    • Not ideal for scaling teams or large brokerages

  • Notable features

    • Video messaging
    • AI assistant Gabby for automated follow-ups
    • Customizable lead management
    • Overall attractive and functional user interface despite a full suite of options

PropertyBase logo; a real estate CRM or customer relationship management software

Propertybase

Best for generating new leads
Starting Price: $79 per user per month

Visit Propertybase

Who it’s for

Ideally suited for brokerages due to a minimum requirement of 10 users.

Why we picked it

PropertyBase stands out with its integration of IDX and a Salesforce-based CRM, providing real estate agents with up-to-date MLS listings and efficient lead management. Its strong SEO capabilities and lead capture tools make it a comprehensive marketing solution.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Customizable CRM pipelines tailored to client needs
    • Built-in hyperlocal SEO features to enhance online visibility
    • Lead scoring tool for prioritizing clients
    • BoldLeads feature for flexible management of paid leads

    Cons:

    • IDX integration incurs an additional fee
    • Customer service reviews are somewhat inconsistent

  • Notable features

    • IDX integration with Salesforce-based CRM
    • Hyperlocal SEO
    • Built-in lead capture tools like contact forms and gated pop-ups
    • Lead scoring for better client prioritization

Follow Up Boss logo; a real estate CRM or customer relationship management software

Follow Up Boss

Best for custom integrations
Starting Price: $69 per user

Visit Follow Up Boss

Who it’s for

Agents at varying levels of their experience, growing teams, and solo agents.

Why we picked it

Follow Up Boss stands out as a standalone CRM, focusing solely on CRM functionalities without other marketing features common in other platforms. However, where it lacks in robust-ness it makes up for in integrations: Over 250 SaaS applications can sync with Follow Up Boss, making it perfect for those who want a highly customizable and adaptable tool (and don’t mind signing in to a bunch of different accounts).


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Regarded as one of the best CRMs on the market with 250+ integrations
    • Attractive, user-friendly interface
    • Fully functional mobile app
    • Free trial and flexible price tiers

    Cons:

    • Not an all-in-one platform
    • Lacks native lead generation or website capabilities.

  • Notable features

    • Exceptional integration capabilities with different platforms like WordPress for websites and Zillow or SmartZip for lead generation
    • Top-notch flexibility, giving agents the freedom to choose their preferred tool integrations
Sierra-Interactive logo; a real estate CRM or customer relationship management software

Sierra Interactive

Best for tracking ROI
Starting Price: $250 set-up fee + $399 per month subscription

Visit Sierra Interactive

Who it’s for

Best suited for real estate brokerages and agents focused on obsessively tracking data and calculating ROI for ongoing marketing strategy.

Why we picked it

Sierra Interactive stands out for its comprehensive approach to lead management, offering a CRM that’s not just about storing data but actively engaging and nurturing leads. Its focus on automation, efficiency, and ROI tracking makes it a powerful tool for modern real estate agents.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Central Hub for organic and PPC lead integration, including third-party sources like Zillow and Realtor.com
    • Intelligent lead routing to distribute leads effectively among team members
    • Advanced reporting tools to track ROI and monitor agent performance
    • Comprehensive lead follow-up and nurturing system with automated action plans and workflows
    • Mobile app for managing leads and tasks on the go, with bulk actions and smart filters

    Cons:

    • Limited marketing automation and additional fees for certain features
    • May not be the most economical option for solo agents
    • Some customization may require third-party assistance

  • Notable features

    • Fully integrated dialer and texting with Sierra AI for quick response times
    • Customizable action plans for automated sequences of emails, texts, and voicemails
    • Extensive activity tracking and tagging system for detailed lead management
    • Search activity monitoring to understand lead preferences
    • E-Alerts and market updates for keeping leads informed and engaged

IXACT Contact logo; a real estate CRM or customer relationship management software

IXACT Contact

Best for nurturing relationships
Starting Price: $38 per month, billed annually

Visit IXACT Contact

Who it’s for

Real estate agents and teams who want a comprehensive, affordable and user-friendly CRM to manage contacts and enhance business productivity.

Why we picked it

IXACT Contact positions itself as a smart assistant, focusing on simplifying contact management and automating key tasks. Its blend of intuitive design, automated reminders and powerful sync capabilities make it a go-to choice for real estate agents aiming to streamline their workflows and improve client engagement.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Attractive and intuitive user interface for ease of use
    • Customizable home page dashboard for personalized experience
    • Automated task and appointment reminders to stay on schedule
    • Keep in Touch Dashboard helps you set up birthday reminders, move-in anniversaries and done-for-you ghostwritten monthly e-newsletters
    • Comprehensive email marketing and direct mail marketing tools

    Cons:

    • The provided website is relatively basic and lacks some advanced features
    • Add-ons can increase the overall cost, making it less affordable

  • Notable features

    • Innovative “Keep in Touch” customizable dashboard
    • Rich contact profiles add personalized touches to client management
    • Real-time synchronization with Google, Outlook and more
    • Automated email marketing & lead nurturing tools; suggest marketing plans and writes newsletters for you
    • Mobile app available on iPhone and Android for on-the-go access
    • Social Stream add-on for automated social media posting
    • Concierge support services for personalized setup and ongoing assistance

Realvolve logo; a real estate CRM or customer relationship management software

Realvolve

Best budget-friendly option

Starting Price: As low as $94 per user per month (paid annually for their Basic plan); Accelerate plan at $99 per month

Visit Realvolve

Who it’s for

Ideal for buyer and seller agents, and specifically for teams who want automated relationship management.

Why we picked it

Realvolve shines in its singular dedication to optimizing and automating real estate client relationships. It provides a blend of simplicity and functionality without overwhelming the user with unnecessary extras.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Customizable CRM pipelines for efficient management
    • Offers complex custom automation for diverse real estate processes
    • Workflow library with pre-written content designed by industry experts
    • User-friendly dashboard that’s customizable to personal preferences
    • Robust notes and correspondence section for comprehensive communication tracking

    Cons:

    • Some complex custom automations are less intuitive, requiring a learning curve
    • Limited native integrations, especially for Gmail calendar

  • Notable features

    • ‘Workflows’ feature for advanced automation
    • Extensive library of pre-designed workflows for various real estate scenarios
    • Template creation for emails and social media
    • Integrated calendar and activities management

Wise Agent logo; a real estate CRM or customer relationship management software

Wise Agent

Best for solo agents & small teams
Starting Price: $27 per month, billed annually

Visit Wise Agent

Who it’s for

Ideal for real estate agents and small teams looking for an affordable, feature-rich CRM with excellent customer support.

Why we picked it

Wise Agent is celebrated for its user-friendly interface, comprehensive features, and exceptional customer support, making it a top choice for real estate professionals. It offers a balanced mix of essential CRM functionalities and advanced marketing tools at a competitive price, addressing the specific needs of real estate agents.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Intuitive and user-friendly interface
    • One-on-one onboarding and 24/7 support for seamless user experience
    • Comprehensive drip campaigns and customizable landing pages
    • Extensive contact automation and an AI writing assistant
    • Robust transaction management features

    Cons:

    • Lacks a dedicated mobile app (relies on a web app accessed through the browser)
    • No text messaging and dialer features
    • Occasional updates without prior warning can be inconvenient
    • Not an all-in-one solution, lacking integrated website and paid lead generation

  • Notable features

    • Easy contact management with enhanced lead profiles
    • Transaction tracking tools for efficient deal management
    • Customizable dashboard for tailored user experience
    • Extensive integrations for a more versatile and customizable platform

CINC logo; a real estate CRM or customer relationship management software

CINC

Best for brokerages

Starting Price: $900 for solo plans to $1,500 for up to 49 users; brokerages of 50+ users inquire for custom pricing

Visit CINC

Who it’s for

High-performing brokerages and agents looking for targeted lead generation and comprehensive CRM solutions.

Why we picked it

CINC stands out for its advanced demographic targeting, leveraging Google and Meta (Facebook and Instagram) for precision lead generation. Its focus on hyperlocal marketing and behavior-driven follow-ups make it a top choice for real estate professionals.


Buying Options

See Details



  • Pros + Cons

    Pros:

    • Comprehensive CRM system for detailed client management
    • Advanced demographic targeting for precise lead generation
    • No contract required, providing flexibility
    • Guaranteed ROI in the first year, appealing to ambitious real estate professionals

    Cons:

    • Not the best fit for solo agents
    • Slightly pricier compared to other CRM options

  • Notable features

    • Hyperlocal marketing strategies for in-depth understanding of client preferences
    • Seamless integration of targeted leads with DX websites and CRM
    • Marketing automation with behavior-driven follow-ups
    • Smart suggestions for optimizing communication and conversion strategies

Our methodology

HousingWire is the destination for industry leaders and decision makers to stay informed and stay ahead of what’s going on in the constantly evolving U.S. housing industry.

To determine which real estate lead CRMs are best for industry professionals, HousingWire analyzed dozens of products and platforms, viewed demos and spoke with agents on our team, weighing the pros and cons of each product alongside both quantitative and qualitative data like price, notable features, ease of use, return on investment, client support and customer reviews.

We crawled the web so you don’t have to, analyzing a wide sampling of reviews across social media, the Better Business Bureau (BBB) and online discussion forums.

Frequently asked questions


  • What is the best CRM for real estate agents?

    When it comes to identifying the best CRM for real estate agents, the answer hinges on various factors including the size of your team, agency, or the specific needs of the agent, and the complexity of your operations. Industry leaders like LionDesk, CINC and Wise Agent consistently rank high due to their comprehensive features, ease of use and integration capabilities. For those seeking a balance of functionality and user-friendliness, LionDesk is often lauded for the many all-in-one capabilities that come with a $39 price tag, making it a popular and budget-friendly choice among real estate professionals.


  • Do real estate agents use CRMs?

    In today’s real estate world, CRMs are more than just prevalent; they’re essential. Think about it: they’re the go-to database for managing client details, keeping tabs on interactions and communicating with leads and customers. With the real estate industry leaning heavily into digital tools, CRMs have become a must-have. They’re key for agents who want to stay ahead of the game and keep their edge in a competitive market.


  • What should I look for in a real estate CRM?

    Selecting the best CRM for real estate agents requires careful consideration of several key factors:

    • Compatibility and integration with your existing tools and platforms: Your CRM should play nice with your whole suite of technology (often called a tech stack). If you already rely on plugins, apps, softwares and APIs, your CRM should have integrations built in that allow you to transfer data seamlessly.
    • User-friendly interface: An easy-to-use interface should be non-negotiable. You want something that’s intuitive, so you can hit the ground running without a tech headache.
    • Lead management: This is where the magic happens. Your CRM needs top-notch lead tracking and nurturing tools to turn those maybes into definites.
    • Customizability: Every business is unique. Your CRM should let you tailor it to your specific needs.
    • Mobile access: Real estate never sleeps, and neither should your CRM. Mobile-friendly is the way to go for agents always on the move between showings, open houses, listing presentations and networking events.
    • Scalability: The CRM should grow with the business, accommodating expanding client lists and changing market dynamics, such as novel marketing techniques, up-to-date lead funnels and AI-driven automation tools.
    • Support and training: Make sure your CRM provides adequate customer support and training resources that meet you where you’re at and teach you how to leverage the CRM’s full potential.

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Mortgage businesses at Wells Fargo, JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). 

The downsized volume reflects two equally important factors: a housing market characterized by limited inventory, high mortgage rates and reduced demand, but also the banks taking themselves off the board for some residential mortgages.

On Friday, the big banks opened the 2023 earnings season for mortgage lenders, giving analysts something to chew on before nonbanks – including Rocket Mortgage, United Wholesale Mortgage, Pennymac, Rithm Capital and Mr. Cooper – report their earnings in the coming weeks. 

Wells Fargo, for example, shrunk its mortgage business dramatically in 2023, per filings with the Securities and Exchange Commission (SEC). The data shows that the bank produced $25.3 billion in home loans, representing only 23% of the $108 billion volume in the previous year, when it was still the kingfish in correspondent lending. 

In January 2023, Wells Fargo announced the decision to exit the correspondent business, and originations through the channel declined to $1.1 billion for the year from $44 billion in 2022. But the retail channel also declined – to $24 billion in 2023 from $64 billion the previous year – due in large part to higher rates. 

Wells Fargo’s CEO Charlie Scharf said in a statement that the company started last year to see improvements in parts of the business that executives believe will drive higher returns over time, for example, credit card products, corporate banking, and investment banking. 

Regarding the mortgage business, Scharf added that “continued execution of our more focused home lending strategy should also produce higher returns and earnings over the next several years.” 

But not yet. Earnings in the mortgage business are declining year over year at Wells Fargo. The noninterest income with mortgages came in at $829 billion in 2023, compared to $1.3 billion in 2022, a 40% decline. Home lending revenues declined to $3.3 billion from $4.2 billion in the same period.

Amid the contraction at Wells Fargo, JPMorgan became bigger than its rival in the mortgage space. One push was made by acquiring the jumbo leader First Republic Bank after federal regulators seized it. 

JPMorgan’s total production was $35 billion in 2023 – 38% higher than Wells Fargo’s origination volume. But JPMorgan Chase declined 46% from $65 billion in 2022. Originations through the correspondent channel fell 53% year over year at JPMorgan to $12.7 billion in 2023. Meanwhile, volumes declined 42% year over year in the retail branches to $22.4 billion. 

In 2023, the bank’s net revenues with home lending came in at $4.1 billion, up 13% compared to the previous year. 

Meanwhile, smaller competitor BofA delivered a $19.4 billion production in residential mortgages in 2023, compared to $44.7 billion the previous year, a 56% decline. The business grew to $9.8 billion in the home equity space from $9.6 billion in the same period. 

Bank of America’s total mortgage-backed securities reached a $51.2 billion fair value as of Dec. 30, compared to $29.3 billion as of Sept. 30, 2023.  

How was the last quarter of the year?

At Wells Fargo, mortgage originations reached $4.5 billion from October to December, down 30% quarter over quarter and 70% year over year. 

As the bank completed its exit from the correspondent channel in Q3, all the volume in the fourth quarter came from its branches, mainly focused on purchase loans. Ultimately, refinancing comprised 24% of the volume in Q4, compared to 16% in the previous quarter. 

In financial terms, the revenue related to the home lending business remained flat compared to the previous quarter at about $840 million in Q4. Compared to the same quarter in 2022, when revenue was $786 million, it increased 7%. However, mortgage banking noninterest income at Wells came in at $202 million in Q4 2023, a decrease from $193 million in the previous quarter and a substantial increase from $79 million in the same period of 2022.

Meanwhile, at JPMorgan, origination volume totaled $7.2 billion in Q4, including $410 million from First Republic Bank, which was focused almost entirely on jumbo loans. 

Including First Republic Bank’s production, JPMorgan’s mortgage volume declined by 35% compared to Q3 2023. Still, it increased by 7% compared to the same period the previous year (when First Republic was not part of JP’s operations).  

Through its correspondent channel, origination volume reached $2.5 billion in Q4, a decline of 40% quarter over quarter. Retail volume reached $4.7 billion, down 31% in the same period. 

JPMorgan’s home lending net revenue reached $1.16 billion in Q4, down 7% from the prior quarter and up 99% year over year – excluding the acquisition of First Republic, the increase year over year is 39%.  

According to the bank, the performance was “driven by higher servicing revenue, largely due to the absence of a net MSR loss in the current quarter compared with the prior year, as well as higher net interest income.” 

BofA’s mortgage originations totaled $3.9 billion during the fourth quarter of 2023, a 30% decline from $5.6 billion posted in the third quarter and a 25% drop from the $5.2 billion originated in the fourth quarter of 2022. 

BofA also originated $2.25 billion in home equity loans in the fourth quarter, which was lower than the $2.42 billion volume in the previous quarter and $2.6 billion in the same period last year. 

The servicing side of the business 

On the servicing side, Wells Fargo’s mortgage servicing rights – carrying value (period-end)­ – declined by 12%, to $7.5 billion in Q4 from $8.5 billion in Q3. Compared to Q4 2022, servicing UPB decreased by 20%. 

The bank’s net servicing income came in at $113 million from October to December, compared to $41 million in the previous quarter and $94 million in the same period of 2022. In 2023, however, it declined 18% to $300 million. 

JPMorgan’s mortgage servicing rights increased to $8.5 billion in Q4 2023, down from $9.1 billion in Q3 2023 but up from $7.9 billion in Q4 2022. 

Mortgage servicing revenues at JPMorgan declined to $179 million in Q4 2023 from $255 million in Q3 2023. In Q4 2022, such revenues came in at $47 million. In 2023, net mortgage servicing revenues totaled $754 million, up 2% year over year. 

What to expect in the coming quarters

Overall, Wells Fargo delivered a $3.4 billion profit in Q4 2023, compared to $3.1 billion in the same quarter of 2022. Overall revenues came in at $20.5 billion from October to December, up from $20 billion in the same period last year. 

Regarding the macroeconomic landscape, Scharf said in a statement that the bank is “closely monitoring credit, and while we see modest deterioration, it remains consistent with our expectations.” 

“Our capital position remains strong, and returning excess capital to shareholders remains a priority,” Scharf said. 

At JPMorgan, net income came in at $9.3 billion in the fourth quarter (including First Republic operations), lower than the $13 billion in the previous quarter and the $11 billion in the same quarter of 2022. The bank said that excluding the FDIC special assessment and discretionary securities losses, net income would be $12.1 billion. 

Jamie Dimon, the bank’s chairman and CEO, said 2023 was a “good example” of the power of the bank’s investment philosophy and fortress principles. But there are challenges ahead. 

According to Dimon, despite a resilient U.S. economy and an expected soft landing by the markets, increasing government spending – due to past stimulus, the need to invest in the green economy and higher military spending, among others – may lead inflation to be stickier and rates to be higher than markets expect.   

On the regulatory front, specifically Basel III endgame, Dimon believes it “could cause serious harm to consumers, businesses, and markets” and hopes “regulators will make the necessary adjustments.” 

At Bank of America, net income came in at $3.1 billion in Q4, compared to $7.8 billion in Q3 and $7.1 billion in Q4 2022. 

Chair and CEO Brian Moynihan said it was a “solid” performance. “All our businesses achieved strong organic growth, with record client activity and digital engagement,” Moynihan said in a statement. 



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Although what lies ahead in the world of real estate and mortgage services in 2024 remains a bit uncertain, it’s now crystal clear that, beyond the already-tired suggestion that we “survive until ’25,” quite a few businesses will be seeking to find additional sources of revenue.

One potential stream that quickly comes to mind is the potential of capturing title and closing business. Accordingly, we’ve already seen any number of builders, mortgage lenders and real estate firms building new affiliated business arrangements (ABAs) or entering into partnerships that put them into the game for settlement services revenue.

That activity will only increase as we move through the year. Here’s why.

The full impact of the Burnett verdict has yet to be seen

The final disposition of the Burnett vs. NAR decision likely won’t be seen for years as the result works its way through the courts. For the most part, many brokerages and real estate agents on the buyer’s side of the transaction have continued on with a “business as usual” approach until we have certainty as to the true impact. And yet, in combination with what remains an uncertain market, more and more teams and brokerages will likely have the incentive to increase revenue and remove the uncertainty from the buying side well before they have to.

It’s entirely possible we’ll see the continuation of the trend towards team selling in the wake of Burnett. It’s not hard to imagine an approach where the listing agents take the lead on the front end of a transaction while a team of buyer agents works with them in the background. Such an approach would likely tend toward a transactional, brokerage-focused revenue model.

In these cases, it would be logical for teams and brokerages not only to seek out additional revenue, but to retain greater control over a transaction from start to finish, which affiliated title operations can bring. In building such arrangements, the real estate firm would have greater control over the experience, hopefully speeding the process from start to finish and delivering a smoother overall customer experience. It won’t be the first time this industry loudly extols the virtues of one-stop shopping.

Here’s who will be seeking to build and grow ABAs…and who shouldn’t

Naturally, until we see a significant upturn in overall origination volume, it won’t just be brokerages and teams seeking to build ABAs or enter into title partnerships. Lenders and builders have also shown a heightened interest at a time when construction materials remain costly, labor costs and pay rates are elevated and interest rates remain high.

At the same time, a more controlled closing experience could help address closing delays arising from the lender’s side or the construction process. While it’s easy for a third-party closing firm to point fingers and shift the blame in such instances, an affiliated operation is “part of the team.” No one will be thrown under the bus in such situations. Accordingly, there are multiple compelling reasons for lenders and builders to consider an affiliated title operation.

Far too often, however, a non-title business will focus on the potential for new revenue without fully considering the cost and the burden that comes with building any new business.

To slightly oversimplify it, a true affiliated arrangement likely won’t pass regulatory scrutiny if the arrangement isn’t being run like a viable business, with any and all partners not fully engaged. Businesses hoping to simply refer their customers to an affiliated arrangement in exchange for a cut of the settlement fees have learned this the hard way.

So when should a builder, real estate firm or lender consider other alternatives to an ABA, such as partnering with an existing title agency? For starters, if there’s no long term strategy (IPO, build to sell in five years) in place, the arrangement is off to a bad start. “Let’s see how we do” is not a strategy for starting most businesses and it won’t work for an ABA, either.

Other offshoots of this philosophy (or lack thereof) include the parent business not having some way of actively being involved in the day-to-day operation of the ABA. Or perhaps the venture is woefully undercapitalized because of mistakes in building out a pro forma and business strategy.

Do you have a plan for how the affiliated operation will capture new business — and not just from your own operation? For many reasons, this can get overlooked as well, and it’s seen often in affiliated arrangements that fail quickly.

Finally, geography — often the impetus for building an ABA or entering a partnership with a title agency — is a major factor in planning an affiliated title operation. Where will the business come from? State by state and sometimes, even county by county, the new operation will have to undergo the same licensing (and compliance processes) any other new title business would. This takes time, expertise and funding. You might even be required to have a brick-and-mortar operation in that state or county.

If you’re not planning to invest sufficiently in such requirements, chances are that some other form of true partnership with a  title or escrow firm might be a better alternative.

When is an affiliated arrangement the best option for real estate firms, lenders and builders?

For those considering the process of building an ABA, the answer should be “yes” to each of the following questions if an ABA is truly right for you.

  • Are you planning and willing to treat the ABA like a new business with a long term strategy and exit plan?
  • Are you truly aware, either from your own experience or with the help of an experienced, successful title professional who has actually built a successful title operation in the real world, of all of the expenses that come with a start-up title operation?
  • Do you have a viable sales model, beyond expecting all new business from the parent company of the ABA?
  • Have you arranged for sufficient capitalization?
  • Finally, do you have qualified people and effective, sustainable systems in place?

Building an affiliated title operation can be a fantastic means of capturing new revenue, which is why ABA activity generally spikes during slower market conditions. But it’s critical to understand that it’s anything but simply agreeing to send the new operation most or all of your clientele in return for a percentage of the fees. You don’t have to be an attorney to know that’s the biggest no-no RESPA provides.

Building a truly successful ABA requires strategy, experience, planning and above all, commitment. While many real estate brokerages and professionals will very likely look to ABAs in the uncertain aftermath of the Burnett decision, it’s important they realize that there’s much more to it than that.

Aaron Davis is the CEO of AMD Enterprises, a conglomerate of eClosing, technology, settlement services and consulting services which includes Florida Agency Network, Closingsuite.com, Premier Data Services and Network Transaction Solutions.



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Organic social media traffic. Community events. SEO. Between leveraging your personal network, filming YouTube videos and even the unpleasant task of cold prospecting, real estate professionals today wear all the hats. In one moment, you may be a content creator, and in the next, a customer service agent, administrative assistant, marketing strategist, copywriter and editor — all in one.

Yet, in a competitive real estate market, agents don’t always have the luxury of investing months into long-term brand-building. Success depends on how well (and how quickly) you can combine your own marketing skills with the right tools and support systems out there to help you convert leads into clients.

While there’s no one-size-fits-all solution, plenty of customizable real estate lead generation tools exist to make your life easier. In this article, we explore nine exceptional real estate lead generation companies that can supercharge your lead generation efforts, each with its unique strengths and limitations.

At-a-glance: 8 top real estate lead generation companies for 2024

Best for full-service marketing suite + exclusive leads

Market Leader

From $139

Jump to Details ↓

Visit Market Leader

Best for seller leads

SmartZip

From $500

Jump to Details ↓

Visit SmartZip

Best for automated lead nurturing

Zurple

From $309

Jump to Details ↓

Visit Zurple

Best for exclusive inherited-property seller leads

Catalyze AI

From $360

Jump to Details ↓

Visit Catalyze AI

Best for buyer leads based on location

Zillow Premier Agent

From $20

Jump to Details ↓

Visit Zillow Premier Agent

Best for most affordable all-in-one marketing solution and website design

RealGeeks

From $299

Jump to Details ↓

Visit RealGeeks

Best for customer service

zBuyer

From $400

Jump to Details ↓

Visit zBuyer

Best for custom real estate websites

Placester

From $79

Jump to Details ↓

Visit Placester

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At-a-glance: 8 real estate lead generation companies for 2024


Best for full-service marketing suite + exclusive leads

Market Leader

From $139

Jump to Details ↓

Visit Market Leader


Best for seller leads

SmartZip

From $500

Jump to Details ↓

Visit SmartZip


Best for automated lead nurturing

Zurple

From $309

Jump to Details ↓

Visit Zurple


Best for exclusive inherited-property seller leads

Catalyze AI

From $360

Jump to Details ↓

Visit Catalyze AI


Best for buyer leads based on location

Zillow Premier Agent

From $20

Jump to Details ↓

Visit Zillow Premier Agent


Best for most affordable all-in-one marketing solution and website design

RealGeeks

From $299

Jump to Details ↓

Visit RealGeeks


Best for customer service

zBuyer

From $400

Jump to Details ↓

Visit zBuyer


Best for custom real estate websites

Placester

From $79

Jump to Details ↓

Visit Placester


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Logo-Market-Leader

Market Leader

Best for: Full-service marketing suite + exclusive leads

Visit Market Leader

Like its name suggests, Market Leader is known for offering a full marketing suite with features like email and SMS marketing services, lead capture forms and a built-in lead management CRM. The company provides in-house advertising experts who send leads exclusively to you and streamlines lead management and marketing efforts.

Market Leader is a strong option for real estate professionals looking for lead generation and marketing solutions. Its full marketing suite and leads exclusivity set it apart, although it would stand out even more if it offered concierge service and a free trial option. Users have praised its efficient CRM capabilities but noted challenges with lead responsiveness in some cases. If a trial period is essential, consider alternatives like Placester, which offers a 30-day free trial.


Buying Options

See Details



  • Pricing

    • Professional for Agents: $139 per month
    • Professional for Teams: $139 per month plus additional per-user charges
    • Business Suite for Brokers: $139 per month plus additional per-user charges
    • Network Boost: Around 40+ leads for as little as $350 per month

  • Pros + Cons

    Pros:

    • Email and SMS marketing services, built-in lead management CRM, lead capture forms, lead exclusivity, full marketing suite

    Cons:

    • Lead list generation comes with a fee, does not offer a concierge service, limited analytics, no free trial period

  • Features

    • Automated workflow
    • Social media integration
    • Customizable reports
    • Network Boost helps generate leads through social media ad campaigns
    • HouseValues helps you get leads from a desired ZIP code
    • Leads Direct helps run pay-per-click advertising campaigns

    Exclusivity: Yes
    Trial period: No
    Contract requirements: Six-month minimum


Logo-Smartzip

SmartZip

Best for: Seller leads

Visit SmartZip

SmartZip uses predictive analytics to predict likely sellers 6 to 12 months in advance, offering a first-mover advantage in tight inventory markets. The company provides robust marketing and nurturing tools, including a CRM with lead data, home valuation landing pages, direct mail campaigns, a comparative market analysis tool and more.

SmartZip primarily benefits experienced listing agents, yet any agent willing to nurture seller leads can thrive with this platform. To generate real estate leads, SmartZip employs predictive analytics that sifts through consumer data from sources like credit card companies, market data from MLS and other demographic data. Real estate agents using SmartZip gain immediate access to its CRM populated with the data. In this dashboard will be a list of property owners in the agent’s target area based on their likelihood to sell within the next 18 months. Armed with this data, agents can streamline their outreach efforts and focus on sellers who are ready for their services.


Buying Options

See Details



  • Pricing

    Starting at $500 per month, with an average monthly spend of $1,000


  • Pros + Cons

    Pros:

    • Predictive analytics, comprehensive marketing and nurturing tools, design quality of marketing materials

    Cons:

    • Leads are not exclusive and are generally top of the funnel, not recommended for new agents, relatively pricey

  • Features

    • Predictive analytics
    • Smart CRM
    • Direct mail campaigns
    • Home valuation landing pages
    • CMA tool
    • CheckIn app
    • Local trend reports

    Exclusivity: No
    Trial period: No
    Contract requirements: Annual contract is required


Logo-Zurple

Zurple

Best for: Automated lead nurturing

Visit Zurple

Zurple generates leads within your target market (up to 10 areas) with branded landing pages that pull in MLS listings for your area. Once a lead is input into its CRM, Zurple sparks conversations via text or email with your leads from all sources, and alerts them to new listings in their area of interest. Automated conversations will nurture your prospects until they become “hot leads” — allowing you to jump in with a human touch to bring sales across the finish line.


Buying Options

See Details



  • Pricing

    Starting at $309 per month, you can also purchase search engine marketing (SEM) services from Zurple, additional sites at $100 per month, per site, and upgrade to include their Pipeline Boost feature.


  • Pros + Cons

    Pros:

    • Provides immediate replies to inquiries, emails and texts
      Takes the pressure off of agents to be available 24/7
      Automated lead nurturing and pipeline management

    Cons:

    • Landing pages are basic + not integrated into your website

  • Features

    • Provides personalized and timely engagement with leads from Zurple and other sources
    • Offers branded landing pages with an MLS listings feed for your target market (up to 10 
    • Tracks lead behaviors online and in the real world to understand where they are in the purchasing process
    • Uses behavioral-based communications to build a rapport with leads at key points in their journey
    • Video and social media marketing tools

    Exclusivity: Yes
    Trial period:
    Contract requirements: Six-month minimum


Logo-Catalyze-AI

Catalyze AI

Best for: Exclusive inherited-property seller leads

Visit Catalyze AI

Catalyze AI utilizes real-time data to identify inherited properties in your local area with a high prediction rate, representing an estimated $69 billion in annual property sales.

​​Catalyze AI, the top choice for exclusive inherited property leads in real estate, employs predictive computer analytics and AI technology to identify highly motivated inheritance leads before they end up in probate court. While the company doesn’t provide marketing tools, its predictive analytics technology puts you considerably ahead of competitors. These leads are often eager to sell, making them highly valuable — especially for such an affordable product. However, leads may take time to close, and the service isn’t available in all markets. This company is best suited for experienced listing agents familiar with the probate process.


Buying Options

See Details



  • Pricing

    Starts at $360 per month for 30 leads ($12 per lead for homes under $1 million; $15 for higher-value homes)


  • Pros + Cons

    Pros:

    • Intuitive dashboard, affordable, monthly sales training calls with scripts for better conversions

    Cons:

    • Limited to inherited properties, no extra marketing bells and whistles are included

  • Features

    • ​​Predictive analytics technology (finds leads before standard competitors)
    • User dashboard to monitor new leads
    • Radius-based leads within 50 miles from you

    Exclusivity: Yes, exclusive listing leads get pushed to your platform.
    Trial period: No, but select discounts may be available (must inquire)
    Contract requirements: Can cancel at any time

Logo-Zillow-Premier-Agent-2

Zillow Premier Agent

Best for: Buyer leads based on location

Visit Zillow Premier Agent

Zillow Premier Agent (ZPA) is a well-known platform for generating buyer leads. It’s highly effective for connecting agents and brokers with local buyer leads. The platform’s high traffic volume and straightforward CRM make it a top choice for lead generation.

As a major player, Zillow is hard to overlook in the real estate industry. The company has the resources to invest heavily in SEO and therefore dominate Google search results. That’s good news for real estate agents and brokers looking to attract leads. Agents do pay for these leads, with Zillow’s “Zillow Flex” now taking a percentage of commissions from referred leads. While Zillow’s exposure is significant, some industry insiders argue the company prioritizes “Flex” over “Premier Agent” partners, making the landscape competitive. Nonetheless, if you want to cast a large net, Zillow Premier Agent can give you that exposure.


Buying Options

See Details



  • Pricing

    Depends on the ZIP code — around $20 to $60 per lead


  • Pros + Cons

    Pros:

    • Personalized agent profile, exclusive placements on your listings, streamlined CRM

    Cons:

    • Lacks robust lead follow-up tools, leads aren’t necessarily qualified or exclusive, variable costs based on your location

  • Features

    • Automatic lead placement in Zillow’s CRM
    • Priority status when claiming properties on Zillow
    • Ease of automating follow-ups for lead conversion

    Exclusivity: No
    Trial period: No
    Contract requirements: Vary

Logo-Real-Geeks

RealGeeks

Best for: Most affordable all-in-one marketing solution and website design

Visit RealGeeks

Real Geeks offers a robust solution for real estate lead generation, IDX website design and all-around marketing suitable for single agents, teams and brokerages.


Buying Options

See Details



  • Pricing

    Starts at $299 per month cultivation, designed to help agents scale their businesses effectively, SEO happy hours to help customers improve real estate lead generation


  • Pros + Cons

    Pros:

    • Comprehensive toolkit including lead generation websites, CRM and lead

    Cons:

    • Limited customization options for websites, additional fees for certain features, no free trial

  • Features

    • IDX real estate websites
    • Real Leads campaign manager and lead generator
    • Home valuation tool
    • Market reports
    • CRM with lead activity tracking, lead autoresponders and 3rd-party integrations.

    Exclusivity: No
    Trial period: None specified
    Contract requirements: None specified


Logo-Zbuyer

zBuyer

Best for: Customer service

Visit zBuyer

zBuyer offers a suite of tech-forward features, such as email and SMS marketing, an IDX website and marketing assistance, in addition to its real estate lead generation services. What sets it apart is its commitment to transparency and exceptional customer service. Nevertheless, online reviews suggest zBuyer could further enhance its service by providing exclusive leads to users seeking top-quality prospects.


Buying Options

See Details



  • Pricing

    Starts at $400 per month; can vary by zip code
    zBuyer is a top real estate lead generation company offering features like email and SMS mass marketing, an IDX website, and marketing assistance. It stands out for its transparency and customer service


  • Pros + Cons

    Pros:

    • Leads are sent directly to your CRM, social media integration, and real-time leads are provided

    Cons:

    • Fee-for-lead list generation model (relatively more expensive options), leads are shared with up to 6 agents

  • Features

    • Industry mastermind group
    • Customizable lead packages
    • Lead replacement policy
    • Connected to HousingNow.com

    Exclusivity: No
    Trial period: None specified
    Contract requirements: Flexible contract


Logo-Placester

Placester

Best for: Custom real estate websites

Visit Placester

Placester excels in providing customizable real estate websites with integrated IDX listing search and content marketing features. It offers a services marketplace for one-time or ongoing services like website setup and content creation.

Placester truly is an all-around solution for real estate agents looking to improve lead generation through website creation. Its Do-It-For-Me (DIFM) package allows agents to craft custom websites in under two days, making it suitable for both tech-savvy and less tech-savvy agents alike. There’s also code-free site editing available, which allows you to better customize your website — even with the more affordable DIY package. Last, Placester offers built-in lead-generation features, such as custom landing pages and community pages, along with a CRM tool for email list nurturing.


Buying Options

See Details



  • Pricing

    DIY packages start at $79 per month, while “Do-It-For-Me” (DIFM) packages start at $119. The next level, DIFM Content Pro, starts at $319, plus you can sign up for Broker Management Software at an additional $25 per month. Annual pricing discounts may be available.


  • Pros + Cons

    Pros:

    • Unlimited landing page creation, blog posts, fully customizable website templates, IDX listing search and built-in SEO tools.

    Cons:

    • Leads aren’t guaranteed, built-in CRM has limited functionality

  • Features

    • Customizable website designs
    • IDX listing search engine
    • Built-in SEO tools
    • Services marketplace for marketing professionals
    • The DIFM + Content plan helps you write optimized blogs and social content

    Exclusivity: Not specified
    Trial period: 30-day free trial
    Contract requirements: Monthly or annually



Our methodology: How we chose the top real estate lead generation companies for agents for 2024

HousingWire is the destination for industry leaders and decision makers to stay informed and stay ahead of what’s going on in the constantly evolving U.S. housing industry. 

To determine which real estate lead generation companies are best for industry professionals, HousingWire analyzed dozens of products and platforms, weighing the pros and cons of each alongside both quantitative and qualitative data like price, special features, ease of use, return on investment, client support, and customer reviews. 

We crawled the web so you don’t have to, analyzing a wide sampling of reviews across social media, the Better Business Bureau (BBB) and online discussion forums.

Frequently asked questions


  • 1. Are lead generation companies worth it in real estate?

    Yes, lead generation will truly be the lifeblood of your business’s success. It may seem challenging to generate real estate leads at first, but once you build up a current of strong, qualified leads, you’ll see how much less effort will be necessary to sustain sales.

    Many real estate professionals turn to lead generation companies like the ones listed above to streamline the process and access more potential clients. While some agents have achieved significant success with these services, whether they are worth it (or not) depends on your individual circumstances. Assess your budget, target market and specific goals before investing in any service. Also determine which aspects of marketing you are least comfortable attempting on your own, and start outsourcing there.


  • 2. Where do real estate agents get most of their leads?

    Real estate agents acquire leads from multiple sources. While lead generation companies are one option, agents also obtain leads through traditional avenues like referrals, open houses, community events and their personal networks. Real estate professionals use online platforms, such as social media and websites, to attract potential clients outside of their immediate local area. The choice of lead generation methods may vary, but it’s always a great idea to diversify your lead channels for the most well-rounded approach.


  • 3. How do I find the best lead generation company for real estate?

    Our team of real estate experts recommend that you choose a real estate lead generation company that custom-tailors its services to you. There’s no sense in paying for leads outside of your zip codes or from demographics that aren’t going to be interested in the properties in which you specialize.

    Begin by choosing lead generation companies on this list with a strong reputation within your particular niche. Consider online reviews, testimonials and references to gauge their credibility. Choose companies that offer transparent pricing and clearly defined lead sourcing methods, avoiding hidden fees or unclear processes. If possible, opt for a trial period to assess the company’s performance before making a long-term commitment.


  • 4. Should I pay for leads in real estate?

    Paid leads may offer quantity, but their quality can definitely vary. Decide whether you prefer a smaller number of high-quality, active leads or a larger volume with potentially more “cold” prospects. It’s also wise to diversify your lead generation methods. While paid leads can be a part of your strategy, don’t overlook organic methods like referrals, networking and your overall online presence.

The full picture: Top real estate lead generation companies for 2024

The lead generation landscape is more dynamic than ever, with a range of top companies offering lead gen services tailored for agents, teams and brokerages. Whether you opt for a widely known product like CINC, a major platform like Zillow Premier Agent, or specialized solutions like Catalyze AI, the key is to align your choice with your specific needs, budget and target market.

Remember that lead generation companies can be a valuable asset in your real estate journey, but success ultimately depends on your conversion strategy and how well you capitalize on the leads provided. We’ve thoroughly researched the top real estate lead generation companies and weighed the pros and cons to help you make an informed decision to support your business.

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Radian Group announced a strategic investment in FinLocker that will closely connect the technology between Radian’s Homegenius platform and FinLocker’s financial fitness and homeownership platform.

FinLocker – which has more than 40,000 registered consumers and is led by former Fannie Mae executive Henry Cason –  is focused on helping the consumer get to a place of financial readiness for home buying. Clients of FinLocker include loan officers, mortgage lenders, servicers, banks and credit unions.

The platform also offers mortgage and financial education, credit score monitoring, credit report access, and tools to improve credit, pay down debt, save for a down payment and track progress toward mortgage eligibility.

Homegeunius – a wholly owned subsidiary of Radian Group – personalizes home search using artificial intelligence (AI) and machine learning hoping to transform real estate transactions.

Through this strategic investment, clients of FinLocker will have the benefit of Radian’s integrated Homogeneous’ suite of technology around real estate search. Terms of the deal were not disclosed. 

Typically, consumers go through a bifurcated process of getting ready financially and then look for a home or vice versa, said Brian Vieaux, president and chief operating officer at FinLocker in an interview with HousingWire

“This strategic partnership in the way our technologies will be integrated will combine the entire process. As I’m searching for properties on the Homegenius platform, I’ll have more confidence in my ability to afford a home because inside the FinLocker platform, my financial readiness will already have been assessed by the technology.”

Radian and Homegenius “relentlessly seek to make homeownership more easily achievable and to help our business partners accomplish that goal more efficiently. FinLocker also does both of those things,” said Radian’s CEO Rick Thornberry. “As we continue to help redefine the homebuying process, we are delighted to invest in innovative companies such as FinLocker which are leading the way.”

Both companies have been in talks for more than a year and recognized pent-up demand to purchase a home from a pool of prospective first-time homebuyers, Vieaux noted.

“This pool may not be ready to use the search feature by itself just because there’s a lack of inventory (…) Even with inventory where it’s at, people are still mentally and and wanting to actually prepare for buying and our financial fitness tools that are centered around homeownership are another way to engage consumers despite the inventory problem,” said Vieaux. 

In a tough market of lack of inventory, high interest rates and elevated housing prices, it has become increasingly important that a loan officer is able to get up the funnel earlier in a consumers’ journey towards homeownership.

“A toolkit like FinLocker with the Homegenius technology is empowering individual loan officers to have the ability to reach, assist and nurture,” added Vieaux. 



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Embarking on a ground-up development project may seem like a monumental task, but the opportunity to build something entirely new makes it one of the most exhilarating ventures in real estate. But, at the heart of any successful development analysis lies a thorough understanding of zoning.

This guide will dissect the key facets, from general zoning classifications to intricate parameters such as height restrictions, setbacks, unit density, and the critical interplay of community incentives and neighborhood ordinances.

General Zoning: Decoding Designations

Zoning designations are slightly different in each city, but they share some common ground. In the code, like R3, the R means residential use—usually no offices or retail. The number 3 signals more density and height are allowed compared to, say, R2. Similarly, C means it’s for commercial, and M is for manufacturing. 

These simple designations help us understand the basic rules of land use in any city.

Zoning Parameters

Here’s a look at some specific zoning parameters. 

Height restrictions and FAR

In most cities, there are designated areas for single-family homes (SFH), typically zoned as R1 or R2, where only single- or two-story structures are permitted. Multifamily buildings and taller structures are usually allowed in areas zoned as R3 or higher. For instance, in densely populated cities like New York, residential zones can go up to R10.

Some zoning allows for unlimited stories, but in these cases, your building’s height is constrained by the floor area ratio (FAR). FAR sets the limit on the total gross building area permitted. For example, if the zoning permits a 10,000-square-foot (sf) building based on the FAR and each floor covers about 2,000 sf, you’re restricted to constructing around five stories without surpassing the FAR limit.

Setbacks

Zoning regulations use building setbacks—side, front, and rear distances—to shape urban structures. By defining these setbacks, zoning codes balance land use efficiency with preserving the surrounding environment’s character.

Side setbacks maintain space between buildings, preventing congestion. Front setbacks enhance streetscapes, creating visual buffers and allowing space for trees and bike parking. Rear setbacks ensure privacy and outdoor space separation. 

Some urbanized cities in San Francisco and New York have no building setbacks, and you can build directly against the neighbor’s property. On the other hand, Los Angeles requires at least 5 feet on the sides and 10 feet in the front and rear.

Unit Density

Unit density dictates the maximum number of residential units allowed in a given area. This restriction is a crucial aspect of urban planning, influencing the overall population density and character of a neighborhood. By setting specific limits on unit density, zoning aims to balance the need for housing with considerations such as infrastructure capacity, traffic flow, and the preservation of community aesthetics. These restrictions play a vital role in shaping the social and physical fabric of a locality, ensuring sustainable, harmonious development.

Figure A. Part of the Los Angeles zoning summary

Incentivizing Urban Development Through Affordable Housing

In transit-oriented neighborhoods, capitalizing on affordable housing initiatives strategically amplifies unit density, building height, FAR, and other zoning parameters, thereby expanding the scope of your project. If your development lies within a half-mile radius of a metro station, it’s probable that established policies facilitate augmenting zoning parameters by allocating a specific percentage of units to affordable housing. 

For instance, dedicating 10% of your units to low-income housing may translate to a 40% increase in unit counts and a 50% rise in FAR, effectively allowing your project to grow by up to 50%. Even in the absence of preexisting policies, proactive engagement with the city could result in negotiations for incentives. 

While not a by-right entitlement, such negotiations are often successful due to the general municipal inclination toward fostering affordable housing. Moreover, state-level incentives may also be accessible to bolster your project’s viability.

Neighborhood Ordinances: Harmonizing Community Values and Development Objectives

In each neighborhood, the presence or absence of a neighborhood ordinance plays a pivotal role, serving as the regulatory backbone for urban development. Understand how these ordinances strike a balance between community interests and the imperative for progress, ensuring the evolution of neighborhoods aligns with their distinct character.

Locating these ordinances isn’t always straightforward. While some are conveniently accessible online, from sources like the zoning map or the city’s website, others necessitate direct contact with the city’s planning staff. 

The content of these ordinances varies widely; some may span just a few pages, delineating specifics like building height limitations or transitional requirements from single-family home lots. In contrast, others may extend up to a hundred pages, imposing detailed criteria encompassing design colors, historical features, shapes, and materials. 

Remember: The lengthier the ordinance, the more time-consuming the approval process, necessitating careful consideration.

By-Right vs. Discretionary Review

In general, adhering to specified zoning parameters categorizes your project as by-right, alleviating the need for discretionary reviews and neighborhood hearings by the planning department. However, exceptions exist, and legal challenges may arise, stemming from concerns like environmental, traffic, or historical impacts. 

Interestingly, even if your project aligns with zoning parameters, larger developments may necessitate discretionary reviews imposed by the city. Notably, certain cities uniformly mandate discretionary reviews, even for a single-family home, a practice more prevalent in smaller cities.

Meanwhile, discretionary review allows local authorities to scrutinize projects more closely. This in-depth examination considers various factors, including community input, aesthetics, and potential impacts on the neighborhood. While this process ensures a tailored approach to each project, it also introduces complexity, as decisions may involve negotiations and public hearings. Discretionary review serves as a mechanism for municipalities to balance the need for development with the preservation of community interests and character.

Final Thoughts

While this article doesn’t encompass the entirety of the intricate, ever-evolving subject of zoning, we’ll discuss that in a coming article. In the meantime, I encourage you to share your questions or additional insights in the comments section.

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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.



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Enterprise Community Partners announced on Wednesday the appointment of Kari Downes to the position of president at its housing credit investments business, effective April 1.

Downes, who currently serves as Enterprise Housing Credit Investments EVP, will succeed current president Scott Hoekman who has spent the past 30 years at Enterprise.

In addition to serving as president, Downes “will also serve as a member of the leadership team of Enterprise’s Capital division, which collectively oversees a $16.6 billion affordable housing and community development investment platform,” according to an announcement from the company.

“It has been a great privilege to be a part of Enterprise over for the past 30 years, and I am making the decision to step down with the utmost confidence in our extraordinary team, all of whom are committed to creating and preserving affordable homes by providing best-in-class service to our investor and developer partners,” Hoekman said in a statement. “With Kari as Enterprise Housing Credit Investments’ next leader, I know that the organization is in the best possible hands.”

Downes will assume the leadership position at the organization as it marks a milestone of $20 billion in cumulative investments. These “have financed 2,800 developments, creating or preserving 200,000 affordable homes nationwide,” The company said. $7.1 billion of that total investment figure occurred during Hoekman’s tenure as president, which began in 2018.

Last year marked “a fifth consecutive year of record investment,” as Enterprise Housing Credit Investments deployed $1.729 billion, the company added.

Downes is looking forward to serving in the new position.

“The Low-Income Housing Tax Credit is the most powerful and impactful way to increase the supply of affordable homes. With the help of our incredible team here, we will continue to grow our impact so that everyone can have a safe and affordable place to call home,” she said.



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Nonbank mortgage lender and servicer Pennymac Financial Services scrapped its plans to hire more than 300 staff in North Carolina due to prolonged periods of elevated interest rates.

In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million into Pennymac Loan Services, its mortgage lending subsidiary, to establish a mortgage fulfillment production center in Cary, North Carolina.

“Currently, however, mortgage rates have climbed to a 20-year-high, which impacts housing, hiring and further expansion efforts. Due to the cyclical nature of the mortgage industry, we were hopeful that the duration of elevated interest rates would not be long lasting,” Janis Allen, executive vice president of corporate real estate at Pennymac, wrote in a Dec. 19 letter to the North Carolina Economic Investment Committee and the North Carolina Department of Commerce.

“Unfortunately, we do not see this change taking place within the base period or extended base period of the Community Economic Development Agreement (CEDA),” Allen noted.

Pennymac’s expansion was set to be facilitated in part by a Job Development Investment Grant (JDIG) approved by North Carolina’s Economic Investment Committee in 2021. 

The JDIG agreement authorized the potential reimbursement to Pennymac of up to $1.9 million over the course of 12 years. Over the 12-year term of the grant, the project was projected to grow North Carolina’s economy by more than $813 million.

The current project location is still operational and occupied by key information technology teams and senior leaders.

Since Pennymac opened doors in Cary, North Carolina three years ago, a total of 68 full time employees worked at the facility as of December. 

Pennymac invested more than $1.5 million in tenant improvements in North Carolina since 2021, the letter added. 

Pennymac referred to the letter sent to the North Carolina Economic Investment Committee and declined to comment.

As with many other lenders across the country, Pennymac has been feeling the full brunt of elevated interest rates.

The lender’s U.S. workforce declined to only “over 4,000” at the end of fiscal year 2022 from 6,900 employees, according to its annual report filings with the Securities and Exchange Commission (SEC).

Most recently, Pennymac issued pink slips to more than 80 employees in November in its California offices impacting loan officers, senior app developers and vice presidents of app development, talent sourcing and sales manager.

In Q3, the California-based lender delivered a $92.87 million net income, up from the second quarter’s $58.2 million but down from $135 million in Q3 2022. Pennymac’s servicing earnings propped up its latest third-quarter performance.

On the strength of its correspondent mortgage business, Pennymac ranked as the second-largest mortgage lender in the first nine months of 2023, trailing just United Wholesale Mortgage (UWM), according to data from Inside Mortgage Finance



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Most agents seldom sell homes, according to a new study published by the Consumer Federation of America last week.

The study, CFA’s third of three on this topic, suggests that a significant portion of agents in the U.S. sell at most five homes in a year. It relies on examinations of agents’ sales for five major real estate firms in each of four geographic areas; out of a sample of 2,000 agents, 100 were selected randomly from each firm in each area.

On average for all areas studied, 70% of agents sold five or fewer homes in the past year, and 49% sold only one or no homes.

The study’s findings are far below the 12 sales per year for the median agent suggested by the National Association of Realtors’ annual member survey, which the study attributes to sample bias for the survey – successful and full-time agents are more likely to respond to the survey than unsuccessful or part-time agents.

The median agent in the study’s result, by contrast, had two sales per year, leading the study’s author, CFA senior fellow Stephen Brobeck, to conclude, “the residential real estate industry is clearly a part-time industry.”

Many of the individual agents in the study had other full-time jobs as “teachers, government workers, restaurant servers, commercial employees, and a large number in associated industries – mortgage lending, real estate appraisal, commercial and residential investment, and the practice of real estate law.”

Other analysts have similarly concluded that the top 20% of agents are responsible for 80-90% of transactions.

To Brobeck, the fact that so many agents rely on residential sales for occasional, marginal or supplemental income is a problem. These “sporadic sales… drain income from those struggling agents, most of whom are women, who work full-time or nearly full-time but sell only a half-dozen to a dozen properties each year.”

Barriers to entry (or lack thereof)

In the second part of his three-part study, published last October, Brobeck argues it is too easy to become a licensed agent.

On this, NAR has previously reached the same conclusion. A 2015 NAR study noted that becoming a licensed agent takes on average 70 hours, which is 302 hours less than it takes to become a cosmetologist.

“The knowledge and competency gap from the most to the least is very large, due to the low barriers to entry, low continuing education requirements, and the lure of quickly making big dollars,” the NAR study reads. “… The delta between great real estate service and poor real estate service has simply become too large, due to the unacceptably low entry requirements to become a real estate agent.”

To become an agent, most states require an applicant be at least 18 years old, have no criminal conviction that affects ability to practice as an agent, pass an educational course, pass a state licensing exam, receive sponsorship from a broker and receive a state license, according to Brobeck’s CFA study.

He notes there is significant variance in requirements from state to state. Required course hours range from 40 in several states to 180 in Texas, while expenses range from $338 in Michigan to $1,225 in South Dakota.

Recruiting agents

Despite the abundance of agents, many companies still actively recruit new ones, according to the CFA study. Companies do this due to high turnover rates and to bring in new clients who come with new agents, the study argues.

Additionally, new agents generate fee revenue, the study notes.

Given these factors, companies often have low hiring standards and underinvest time and resources into the continuing education or professionalization of their existing workforce, Brobeck contends.

“Yet despite this agent glut, many large companies keep recruiting new agents, often regardless of agent qualifications,” he wrote. “They do so largely because of four factors – high agent turnover rate, new agent sales to friends and family members, fees paid by these agents, and limited liability for these agents since they are independent contractors.

“For these same reasons, many companies continue an association with agents even when the agents routinely sell only one or no properties a year. The surfeit of agents ensures that many will not be able to receive adequate personal training and mentorship.”

What to do about the glut of agents

Brobeck offers a few potential solutions:

  • State legislatures could mandate broker supervision of inexperienced agents (Colorado, Illinois and Montana already do)
  • State legislatures could mandate post-licensing education
  • Regulators could act on complaints of inadequate training and supervision
  • NAR could raise the standards required to earn Realtor status (although not all agents are NAR members and several brokerages no longer mandate their agents become members)
  • Companies could prioritize hiring full-time agents and brokers more than part-time ones

Although unmentioned in the CFA study, the outcomes of various lawsuits over commission structures could also dampen the appeal of entering the residential real estate space, depending on how compensation changes.



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