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Reader, depleted inventory and the California DRE Licensee Profile
Week of May 15, 2023

Features

Fewer new listings as California's for-sale inventory dips
The number of new listings is down dramatically across California's major metros.

DRE Licensee Profile
Anticipate the evolving real estate licensing patterns and adjust your strategy with RPI's Licensee Profile.

Licensed vs. Unlicensed Property Management Activities
This video distinguishes between licensed and unlicensed activities.

Vote on it

Are you aware of sellers waiting to list on the belief prices will rise again later in 2023?

The liquidated damages provision and the breaching buyer's deposit when prices decline
Agents need to be aware of the maximum dollar amount the seller is entitled to receive upon a buyer's breach — especially when home prices are falling.

Form-of-the-Week: Property Management Agreement and Change of Owner or Property Manager — Forms 590 and 554

Form-of-the-Week: Property Management Agreement and Change of Owner or Property Manager
A broker uses RPI Form 590 when entering into a property management agreement and RPI Form 554 when a change of ownership occurs.

California’s for sale inventory: a symptom of seller reluctance in 2023
California's only metro with positive inventory change is Riverside, with 6% more listings than a year earlier as of March 2023. On the other hand, San Jose is down 32% from a year earlier.

Current mortgage rates
The average 30-year FRM rate remained roughly level at 6.35% in the week ending May 12, 2023. The average 15-year FRM rate also remained flat at 5.75%.

Trending: California home sales volume inches forward in March 2023
After a year of steadily decreasing sales, California home sales volume is struggling without a rebound in 2023.

Popular: New mortgage premium structure signifies a transfer of wealth
Borrowers with lower credit scores and down payments now pay less under the new structure than before.

Untapped potential: Online marketing for your real estate business

Popular: Online marketing for your real estate business
No sales effort is complete without an internet marketing plan.

JargonDrop™
Test your real estate industry jargon (and reflexes) against other licensees with JargonDrop™.

Real Estate Crossword
Flex your real estate fundamentals with this week's Crossword Puzzle: Real Estate Practice.

RPI Form Updates

— No RPI Form updates this week.

To access all updated forms, view our RPI Forms library here.
Click on Download the Full Forms Library to download our entire catalog.

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