Price negotiation tricks every home buyer should know

Brushing up on your negotiation techniques with the insider knowledge of a real estate agent can have a big impact on how much you pay for a home.

Buying a house can be an overwhelming experience, particularly if you have your heart set on a place you’ve seen recently.

With inflation uncertainty the volatility in the economy to consider, every dollar you can save on the purchase price can reduce your loan repayments. 

By brushing up on your negotiation techniques, you could potentially save tens of thousands on the asking price of a home.

Mortgage Choice has asked some real estate agents to share some of the best negotiation techniques they’ve seen over their years in the industry, which are outlined below.

1. Be prepared 

Before you even start negotiating, make sure you know exactly what you’re in the market for and what you can afford in repayments.

Being prepared also means seeking pre-approval and knowing your financial limits, which can give you the confidence to make an offer and walk away. Sitting down with a mortgage broker ahead of your home hunt can make all the difference when it comes to fully understanding your situation.

When making an offer, make sure that the offer is the price you want to pay, not necessarily what the asking price is. If the property needs work, make sure you take this into account when preparing to make an offer.

2. Be transparent 

Now isn’t the time to hold your cards close to your chest. Successful negotiation isn’t about certain techniques as much as it is about knowing local agents and building trusted relationships with them, BresicWhitney chief executive (CEO) and director Thomas McGlynn says.

“Be clear and communicate your position and what you’re looking to achieve, along with honest feedback of properties you might have recently seen,” he adds.

“This not only helps the agent you’re dealing with, but by extension it helps the seller understand local feedback and where the market is truly at.”

Tash Oakley yacht party
BresicWhitney chief executive and director Thomas McGlynn hosting a Sydney auction. Picture: Brendan Read

3. Back your decisions 

While being transparent and communicative is important, Mr McGlynn says you should be firm and back your decisions at the same time.

“If you’re steadfast on either price, area or requirements of a home, these are likely very important to you. Don’t feel pressured to compromise,” he says.

“Focus on educating yourself too – be present and active in your local market, attend open homes and auctions and research local sales so that you’re informed.”

4. Avoid analysis paralysis 

It’s vital not to get too focused on trying to time the market, or you could get stuck in analysis paralysis.

McGlynn reminds buyers that time in the market will yield far better results that trying to time the market.

“Buying when it suits you financially and in line with your requirements or goals is what’s important. There’s opportunity in almost all market conditions, and the majority of well-located, quality properties, particularly those around the key lifestyle markets of Sydney, will perform well over time.”

A great agent who you trust will be able to help you uncover these opportunities and make sense of the market, he says. 

5. Understand the demand 

All over the country, certain neighbourhoods and suburbs are in greater demand than others, which will impact your ability to negotiate.

Do your research by looking up recent sales in the area to understand what similar properties have sold for. This will give you a benchmark on what homes have been selling for recently, which can help you work out how low you could go without offending the vendor in the process.

6. Consider the economy 

A lot can change in a few short months when it comes to property prices, and therefore your ability to negotiate.

There’s a lot of uncertainty out there right now. While one more cash rate cut for 2025 was looking very likely, the release of September quarter inflation figures has all but quashed any chances. 

These factors can all impact the market, which could be favouring buyers or sellers at the moment. Check sales history of properties online, and keep an eye on market insights and economic reports to understand what’s happening to the market in the area you want to purchase in.

7. Temper your emotions 

Don’t forget that the vendor is selling the property and the buyer is there to purchase, and the agent is there to facilitate the process and manage the communication between the two parties, says Jellis Craig CEO Andrew McCann.

It is important a prospective buyer builds the right sort of rapport with the vendor. Picture: Getty

Even if the agent has just walked you through the home of your dreams, remind yourself that good negotiators temper their emotions and enthusiasm and walk away calmly to gather their thoughts and work out their next move. 

“Buyers that handle the negotiations poorly sometimes come across too aggressively and get the vendor offside,” he warns. “Once the vendor has emotionally decided that they don’t like the buyer for one reason or another and decide don’t want to sell to them because perhaps the buyer is playing too hard, negotiations can stall pretty quickly.”

8. Put an offer in writing 

Buyers should be transparent about their level of interest. This means negotiating in good faith and putting their offer in writing.

“The agent has a duty to take all offers to the vendor, and when the offer is in writing, it shows a willingness and intent and builds trust into the process that the buyer is genuine,” Mr McCann explains.

9. Consider the extras 

You do have other bargaining tools at your disposal. The conditions of the sale can save you a lot of money, so think through what other elements of the sale could work in your favour.

For example, you may want a 30 day settlement so that you don’t have to find somewhere else to live when your lease runs out. Or, you may want to negotiate that the fridge, piano and garden furniture stays.

These items might be small in the grand scheme of things, but they can add up pretty quickly if you don’t have to cart your fridge to the new house.

With all this in mind, your next purchase could be yours before you know it. 

This article first appeared on Mortgage Choice and has been republished with permission.

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Affordability for first-time homebuyers: Beyond rates and prices

We’ve all heard the refrain: it’s never been harder to buy your first home. The narrative almost always circles back to two usual suspects – mortgage rates and home prices. While rates and prices are undeniably visible and powerful levers, they are not the whole story.

For industry insiders, the challenge (and the opportunity) lies in understanding the layered, less visible forces shaping affordability for today’s first-time homebuyers. The truth is that affordability isn’t shaped only by where rates land or how quickly prices climb; it’s increasingly a function of a borrower’s balance sheet, monthly cash flow and income, which all factor into debt-to-income ratios (DTI) and ultimately getting approved for a loan.
Let’s go beyond the boilerplate and unpack the modern affordability equation, by looking at both macro and micro-level factors.

Rising cost of homeownership

Homeowners’ insurance is emerging as one of the most potent affordability headwinds. Premiums have surged nationwide amid escalating climate risk, catastrophe losses, and carrier pullback, with Florida and California as the most visible flashpoints.

According to Realtor.com (July 8, 2025), average 2025 annual premiums are projected to rise $509 in Florida, $1,320 in California, and an astonishing $2,974 in Louisiana. Those jumps translate to hundreds of dollars added to monthly PITI calculations, enough to push many first-time buyers’ DTI ratios past qualifying limits. In a market where margins are already thin, that can be the deal breaker.

Automated underwriting (AUS) tightening

There is chatter among loan officers that automated underwriting systems have grown restrictive, and seemingly arbitrary. Borrowers who once passed DU or LP are increasingly being pushed into FHA loans, saddling borrowers with steeper mortgage insurance and higher long-term costs. It’s a quiet tightening that reshapes affordability, even for creditworthy applicants.

Today’s borrower profile has shifted

Experian data shows that total consumer debt climbed 2.4% year-over-year, rising from $17.15 trillion in Q3 2023 to $17.57 trillion in Q3 2024. But the real story emerges when you break it down by generation. Gen Z saw their debt balances surge 30.9%, and Millennials increased 5.3%, and these two groups that make up the bulk of today’s first-time homebuyers. For many in these cohorts, carrying $500 to $700 a month in non-mortgage debt is commonplace, leaving less room in the budget for housing costs. 

In practical terms, these rising debt loads erode purchasing power and can push DTI ratios past qualifying thresholds, even when income levels appear sufficient on paper.

Further, wage growth has failed to keep pace with home prices, an imbalance now deeply embedded in the housing market. According to USAFacts, home prices have climbed roughly 74% since 2010, while wages have increased only 54% over the same period.

The gap has only widened in recent years: since 2019, median wages are up about 20%, but home prices in many metros have surged 40-60%. The result is a steady erosion of buying power, that even as incomes rise, borrowers simply can’t buy as much house as they once could, leaving many to fall back into the rental cycle.

The devil in the details: DTI as the pressure valve

At the end of the day, affordability is adjudicated through DTI. Lenders and AUS don’t care if the pressure point is insurance premiums, student loans, or credit card balances – it all collapses into a ratio that determines whether a deal gets approved.

Consider this illustrative example:

  • Household income: $100,000 (~$8,333/month).
  • Starter home: $350,000 with 3.5% down (FHA).

At a 5.25% rate, P&I runs about $1,898/month. Layer in 20% of income already committed to consumer debts ($1,667), and total monthly obligations hit $3,565 – roughly a 43% DTI.

Now bump the rate to 5.75%: the mortgage payment rises by ~$106, and DTI inches to 44%. 

While this is still technically approvable under FHA guidelines, the margin of safety is razor thin. If property taxes, insurance, or MIP are even modestly higher than assumed, the file can tip into denial territory.

This illustrates the real enemy of affordability: not simply rates or prices, but the cumulative drag on DTI from every corner of a borrower’s financial life.

Practical Implications

For originators and lenders, the takeaways are clear:

  • Build borrower education around the full profile: Homebuyer counseling and education must extend beyond “timing the dip” on rates or home prices (which may in fact promote a costly sidelining of the borrower) to helping borrowers understand the implications of how consumer debt, insurance costs, and MI can shape their buying power.
  • Highlight the importance of pre-approval: In a market where affordability is fragile, being fully pre-approved gives borrowers the ability to act decisively when conditions align. But in today’s market, the most critical factor to align is inventory; and that’s a story worth its own analysis.
  • Position as trusted advisors: The LO who can demystify the affordability equation for borrowers will nurture stronger, longer-lasting client relationships.

And perhaps most importantly: don’t overstate the mortgage rate or home price narrative. While these factors are highly visible, they are not the biggest enemy of affordability. The silent factors – insurance, debt loads, and other qualification issues – are what is truly eroding first-time buyers’ access to homeownership.

Hector Amendola is the president of Panorama Mortgage Group.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

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The 5 home must-haves reshaping how Australia rents 

More Australians are renting for longer – and rethinking what “home” means in the process. 

Build-to-rent communities are redefining the experience, making renting simpler, more secure, and genuinely lifestyle-led.

Renting isn’t what it used to be (and that’s a good thing) 

In Australia, the proportion of long-term private renters has doubled over the past decade. For many, renting is now a lifestyle choice rather than a stepping stone to buying. 

Unlike traditional private tenancies, build-to-rent developments offer secure leases, service-driven management, and access to lifestyle amenities that rival — and often surpass — owner-occupied homes. 

Local: Residential, Australia’s largest professional renting platform founded in Melbourne, is leading the charge. Each development is designed for modern renters, combining sustainability, connection, and ease. 

“Purpose-built, professionally managed renting is already the norm in the US and UK,” says Megan Hondromatidis, General Manager of Marketing and Communications at Local: Residential.  

“It removes much of the angst and hassle that often comes with traditional rentals.”

With more people renting long-term, renters are looking for apartments purpose-built for their lifestyle.

Melbourne’s response: Putting renters first 

Local: Residential’s buildings in Kensington and Box Hill are setting the tone for a new era of renting. 

Every apartment includes whitegoods — from fridges to washing machines and dryers — and fully furnished options are available for those who prefer to move in with less. 

The Kensington precinct features sustainably designed studios through to three-bedroom homes, starting from $590 per week, with built-in storage and abundant natural light. 

Shared amenities include a full-sized gym, wellness studio, cinema room, creative space, outdoor barbecue areas, a heated lap pool, and private dining room. 

“Apartment living doesn’t mean compromising on lifestyle,” says Hondromatidis. “Our shared spaces are used daily by residents — they’ve become an extension of people’s homes.”

She adds that the flexible lease terms attract everyone from students and young professionals to families.  

“Some choose shorter six- or nine-month leases, while others love the security of knowing they can stay for years without the hassle of moving.”

Box Hill will add another 425 sustainably designed apartments when it opens in January 2026.  

Amenities will include a wellness zone, indoor lap pool, sauna and steam room, private dining areas, outdoor terraces, a mahjong room, work-from-home studios, and a podcast room. 

“We’re showing renters that apartment living can align with their values and evolving needs,”  Hondromatidis says.  

“If you want a sustainable home that’s efficient and cost-conscious, we’ve designed for that.” 

Flexible lease terms, pet-friendly apartments, low $1,000 bonds, and streamlined move-ins make Local: Residential developments a far cry from traditional renting.

The homes at Local: Kensington range from sleek studios all the way to family-sized three bedroom apartments.

The 5 renter must-haves defining the new era of renting 

1. Stability and ease 

Build-to-rent developments prioritise convenience and predictability. Tenants can choose their move-in date, avoiding the stress of paying double rent. 

“There’s security in the lease tenure,”  Hondromatidis says. “People can lock in for up to five years and not face the constant pressure of house-hunting or the uncertainty of private landlords.” 

Residents can also upsize, downsize, or relocate within the same building — flexibility rarely offered in the traditional market.

2. Built-in security and on-site support 

Safety and service are top priorities for long-term renters. Each building features secure Bluetooth access, CCTV throughout common areas, and an on-site resident and maintenance team six days a week. 

“We’re seeing more women in their 20s and 30s choosing to live solo, valuing both the security and the community aspect,” says Hondromatidis. 

Maintenance requests are handled quickly — no more waiting weeks for a private landlord to respond — and renters can enjoy amenities like the gym, co-working studios, and outdoor spaces without leaving home. 

3. Lifestyle on your doorstep 

From gyms and pools to creative and co-working spaces, build-to-rent living blends home comforts with hotel-style convenience.

“It’s about lifestyle — being able to walk out of your apartment and go straight to the gym or workspace,” Hondromatidis explains. 

Regular resident events such as yoga, trivia nights, creative workshops, and social mixers build genuine community connection.

Community and connection is at the heart of the Local: Kensington lifestyle.

4. Pet- and people-friendly living 

With more Australians owning pets, Local: Residential takes a forward-thinking approach. 

“Everyone loves the people-focused design, but we’ve also got plenty of cats and dogs calling Local home,”  Hondromatidis says. 

Pet-friendly zones include an outdoor Bark Park and Pet Wash, while designated pet-free areas cater to residents without animals — ensuring harmony for all.

5. A landlord who works with you 

Flexibility and collaboration underpin the build-to-rent ethos. 

“We want people to enjoy living with us and stay for as long as it suits their needs,” says Hondromatidis.

“Being able to treat an apartment like it’s your own — to paint, hang art, and make it feel personal — makes a real difference.” 

Because Local: Residential owns and manages its buildings, it can adapt to residents’ needs over time, ensuring the spaces created remain the ones people truly value.

Residents at Local: Kensington have more flexibility when it comes to personalising their space.

The new benchmark for Australian renting 

For today’s long-term renters, build-to-rent represents more than a home — it’s a lifestyle built around stability, security, and connection.

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Real estate industry chiefs say housing fix starts with mortgage financing reform

A completely new status quo for mortgage financing — especially one more favorable toward first-time homebuyers — was cited by real estate leaders as a vital step in improving housing affordability. 

For NextHome co-CEO Keith Robinson, affordability can’t be solved without addressing the mortgage system itself — one he says hasn’t fundamentally changed since the Great Depression.

“We’re using a 30-year fixed financial structure, and that was first installed in 1933 as part of the New Deal,” he told HousingWire.

Robsinson noted that home prices have skyrocketed while wages and financing options remain stuck in another era.

“The average home sales price in 1933 was $5,700. The average home sales price of 2025 was around $400,000,” Robinson said. “Property values have gone up massively in value, but our financial structures are the same. [It’s] not shocking at all that affordability is an issue.”

He said innovation in mortgage terms could help balance that equation.

“Maybe let’s try pushing out term and see if we can use that,” he said. “Just do it for first-time homebuyers. I’m fine if you eliminate the boomers and me and everybody else, but we have to come up with a financing structure that helps the first-time homebuyer.”

Century 21 President and CEO Mike Miedler said affordability challenges demand more than rate relief — and agreed with Robinson regarding drastic changes in financing.

“Brokerages have a real opportunity to lead by embracing innovation; educating clients on alternative housing options like (accessory dwelling units), modular homes or even commercial spaces that have been transformed into affordable residential options,” he said. They can also partner with lenders and local stakeholders to explore new financing models.

“That can be longer term mortgages, tax relief for older generations selling to first-time buyers, or creating opportunities that allow buyers to assume mortgages where qualified. This helps loosen supply and ease the affordability on the demand side.” 

A ‘New New Deal’ for housing?

Pressed on how he’d address today’s bottlenecks — from credit to construction to affordability — Robinson didn’t hesitate.

“If you were to make me the housing czar for a day, I would try to fix it by (changing) what the government would tell Wall Street they’ll back,” he said.

His prescription; a new government-backed financing structure through FHA, focused exclusively on first-time buyers.

“Give them some new mortgage structure that we haven’t seen before that helps with affordability in the same way in 1933 we had to come out with a new economic structure that we’ve never seen before to unlock housing for the country,” Robinson said.

The NIMBY wall, mortgage markets

Beyond changes to commonly used mortgage financing models, Robinson and Miedler touched on another aspect of affordability and inventory that’s become popular among legislators; zoning. 

Robinson said federal programs often can’t overcome the deep-seated “not in my backyard” resistance, often dubbed NIMBY, in many communities.

“I’m not super optimistic that local zoning will, at scale, be the solution because the nimbyism is just so rampant,” he said. “People want to get reelected, and you don’t get reelected if you ignore your constituents. Those two things are at odds.”

While also acknowledging that homeowners have valid concerns about neighborhood changes, Robinson said the lack of new housing risks leaving an entire generation behind.

Miedler said municipal zoning preferences must be balanced with overarching inventory goals.

“Local zoning and permitting should reflect the needs of the community but also the reality of the challenges we’re facing with supply,” he said. “Overly restrictive zoning limits choice for buyers and sellers and state and local elected officials should update these often outdated policies to help support and grow their communities.”

Asked about FHFA reforms and potential shifts at Fannie Mae and Freddie Mac, Robinson sees reason for cautious optimism.

“It’s directionally correct,” he said. “Trying to make it easier to borrow money is not a bad thing, so long as we don’t repeat 2008 all over again. We’re very, very far away from that today.

“At least they’re trying something. From a macro standpoint, trying to make it easier to borrow money is not a bad thing.”

Whether it’s new ideas at Fannie and Freddie, major changes to local zoning or rewriting what’s considered to be “normal” in mortgage financing, Robinson and Miedler emphasized that drastic times call for drastic measures — and that a generation of homeownership lies in the balance.

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Upper North Shore suburb record at Wahroonga

An Upper North Shore suburb’s record has been smashed with a $18.5m sale surpassing the previous record by $4m.

David Walker director of Ray White Upper North Shore broke the Wahroonga record with the sale of 58-60 Carrington Road.

The previous suburb record stood at $14.5m from the 2022 transaction of 33 Water Street.

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58-60 Carrington Road, Wahroonga

Stepping inside the Wahroonga home there is a myriad of luxury features

The record-breaking home sold to local buyers, with the residence’s vendors understood to be downsizing to the Lower North Shore.

Mr Walker ran an intense two week campaign that saw 47 groups through the five-bedroom, five-bathroom home.

Sitting on a 4047 sqm property has a 1271 sqm internal floor area.

The residence boasts a media room, gymnasium, home theatre, cellar as well as an imported British greenhouse.

MORE: Burnt unit block without roof to become ‘cash cow’

Inside the Wahroonga home

The theatre inside the home

The kitchen includes commercial grade appointments and Valcucine cabinetry while a lift provides access to each of its three levels.

Hydronic under floor heating is included across all of the tiled areas as well as a filtered air and heat exchange system in the residence.

While internal access is afforded to a large four car garage featuring two EV chargers.

The imported British greenhouse

The home also boasts a tennis court

The outdoor pool

Mr Walker said the Upper North Shore engine is starting to fire.

This comes after the recent sale of the one-time Turramurra home of pioneering aviator the late Nancy Bird Walton sold for close to $10m to a Sydney family after the historic Upper North Shore home was renovated by Telstra senior executive David Burns and Edwina Burns after purchasing the home in 2021 for $7.875m.

According to recent PropTrack data, the Wahroonga suburb median house price in October sits at $2.875m with the median unit price of $1.125m.

The data also revealed an average of 51 median days on market for houses and 64 median days on market for units.

MORE: ‘Kick everybody out’: billionaire pub tycoon reveals all

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Real Brokerage reports strong Q3 results, previews major tech innovation

The Real Brokerage reported a 53% year-over-year revenue increase in the third quarter of 2025 — reaching $568.5 million — as the company continues to grow its agent base and expand transaction volume despite broader housing market headwinds.

Amid strong results, Real Chairman and CEO Tamir Poleg said the company is preparing to unveil a major technology initiative.

“I think that we are approaching a point where we have a critical mass of features and incentives and alignment with our agents in order to drive massive adoption to our ancillary services,” Poleg said during a Q3 earnings call. “Next week, we have our annual RISE conference, where we will be announcing what I believe is the biggest tech innovation that we have announced since starting the company.

“That innovation will have massive impact on our ability to attach title, mortgage, Wallet and insurance later on. I think that we’re very close to seeing a meaningful change in the adoption of our ancillary services.”

Real closed 53,512 transactions in the third quarter — up from 35,832 a year earlier — with total transaction value rising 49% to $21.4 billion.

As of late October, the company reported more than 30,700 agents on its platform.

“There’s volatility in the agent trend,” Poleg said. “Having said that, I do think that the platform delivers more and more value as we continue to progress. I think that the lower (agent churn) numbers reflect the value and the fact that the platform just becomes more and more sticky.

“I also think that if agents think about some alternatives out there, I don’t think that there’s any better alternatives in terms of a brokerage. And that’s probably what those numbers signal.”

Automation and AI

Chief Operating Officer Jenna Rozenblat highlighted the company’s increasing reliance on automation and artificial intelligence (AI) to improve operations.

“In September, we launched Real’s dedicated AI automation team focused on using AI and workflow automation to reduce manual or low-value processes across the organization,” Rozenblat said. “In just the first few weeks, the team delivered more than a dozen live automations collectively saving the business more than 10,000 hours annually, equivalent to multiple full-time roles.”

Rozenblat said these automation initiatives have also improved agent satisfaction and retention.

“Importantly, these improvements are translating into stronger agent retention, evidenced by our revenue churn, which declined to 1.4% in the third quarter — the lowest level in more than two years,” she said.

Title and mortgage operations

One Real Title generated $1.3 million in revenue, down slightly from $1.4 million a year earlier.

Leaders attributed the decline to the wind-down of several joint ventures (JV) as it transitions to state-based partnerships.

“We’re putting a lot of emphasis and focus on ancillary services — and title primarily, I would say,” Poleg said. “At the beginning of the year, our attach rates were in the range of 2.4% to 3% overall. Then we transitioned from the team-based JV to state-based JVs, and that transition created headwinds, about minus 50% for us as a business.

“In September, we had attach rates of 3.7%, so I think that we’re making some progress in terms of attach rates. The attach rates on the new JVs are at around 35%, and I think that we can get much higher, but we’re seeing great momentum in some states.”

One Real Mortgage revenue rose 47% year-over-year to $1.8 million. The division now includes roughly 100 loan officers — with more than 60 participating in the Real Originate program.

Fintech expansion through Real Wallet

As of October, more than 4,600 agents were using Real Wallet business checking accounts, holding about $20 million in total deposits, Poleg said.

Real Wallet Capital — a new lending product that gives the company’s U.S. real estate agents access to working capital directly through its digital platform — was launched earlier this month.

The program operates within Real’s proprietary software platform reZEN and uses agent performance data to determine credit eligibility and loan amounts.

“($20 million) is up from approximately $14 million at the time of our last earnings call,”he said. “With Real Wallet Capital, we can extend credit based on an agent’s production history and projected income, offering financing that many banks could not. We believe Real is the only major brokerage offering agents this kind of embedded access to capital and doing so often same day.”

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Newrez posts best monthly mortgage volume since 2022, seals Wells Fargo deal

Multichannel mortgage lender Newrez continued to contribute positively to parent company Rithm Capital’s earnings in the third quarter of 2025, during which the company closed an agreement with Wells Fargo in the private-label securities (PLS) space.

In the third quarter, Newrez posted pretax income of $295 million — excluding a net hedge mortgage servicing rights (MSR) mark-to-market loss of $61 million. That was up from $275 million in the second quarter, according to filings with the Securities and Exchange Commission (SEC). Newrez generated a 20% pretax return on $6.2 billion in equity.

“With the recent drop in rates, our origination business finished the quarter with our biggest month in lock volume since early 2022,” Newrez President Baron Silverstein said during an earnings call on Thursday morning. “While market competition continues to drive margin pressures, our disciplined focus remains on profitable growth with an eye for market opportunities.” 

On the origination side, Newrez delivered $80.4 million in pretax income in Q3 2025, down from $86.6 million in Q2. Funded production volume came in at $16.4 billion, an increase of 3% year over year, mainly driven by its correspondent channel. Silverstein said margins fell to 114 basis points, down from 122 bps in the prior quarter, due to the channel mix and an increase in government streamline refinances.

Newrez’s servicing business saw pretax income rise to $660.3 million in Q3, compared to $233.6 million in the second quarter. Its servicing portfolio reached $878 billion in unpaid principal balance (UPB), up 7% year over year. This includes $282 billion of third-party servicing, an increase of 21% from the previous year.

“Our special servicing platform is the best in the business, and we continue to gain market share as shown by increases in our third-party UPB,” Silverstein said. “We’re also excited about a new partnership with Wells Fargo, which validates our nonagency servicing leadership in the industry.”

Newrez entered into an agreement with Wells Fargo to purchase a legacy PLS portfolio, with expectations to begin the transfer next year.

BTIG analysts estimate Newrez can recapture 40% to 50% of its servicing portfolio if mortgage rates fall another 25 bps, versus their estimate for total originations next year of about $75 billion.

“The alignment we see between servicing and origination has improved considerably relative to the company’s position leading up to the pandemic,” the analysts added.

Assets under management

Company executives reiterated that they are not planning to take Newrez public anytime soon. Michael Nierenberg, Rithm’s president and CEO, told analysts during the earnings call that the company first needs to grow its asset management business.

Rithm manages more than $100 billion in investable assets across its owner-operator model. In the fourth quarter, it expects to close its first evergreen asset-backed finance fund through its wealth management platform, targeting upward of $500 million.

In line with that strategy, Rithm announced in the third quarter the acquisition of Crestline Management, a move that adds $17 billion in assets under management and expands the firm’s direct lending and insurance offerings. It also paid $1.6 billion to acquire Paramount Group and establish a presence in the office property market.

Nierenberg said these acquisitions help Rithm expand its platform and product offerings. He added the company will not raise equity to fund these deals. They will be funded using the company’s balance sheet and third-party capital. 

Overall, Rithm reported Q3 2025 net income of $228 million, down from $318 million in Q2. GAAP net income came in at $193 million. The company expects to have $1.3 billion in cash and cash equivalents after closing the Crestline and Paramount transactions.

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Chris Planto returns to Rate as VP of mortgage lending

Top-producing mortgage originator Chris Planto has rejoined Rate as vice president of mortgage lending in the Houston market. Planto returns to Rate from CrossCountry Mortgage, where he most recently served as a senior loan officer.

“We are absolutely thrilled to welcome back Chris Planto to our Rate family,” said Todd Heaton, an executive vice president and Western divisional manager at Rate. “Chris is not only one of the best originators in the country, he’s also genuinely kind and a great person to be around. We’re proud to have him back where he belongs.”

Planto served at Rate between 2019 and 2022, during which time he earned Chairman’s Circle honors and built a reputation for exceptional client service, mentorship and results.

“There’s nothing like the culture at Rate,” Planto said in a statment. “It’s a place where top producers share ideas, learn from each other, and have the technology and support to deliver the best possible experience for clients.

“I’ve also seen the incredible talent that’s joined Rate recently and the growth happening in the Houston market — it’s an exciting time to be back and part of this team. It feels like coming home.”

According to Modex data, Planto’s year-to-date production is $28.25 million, with an average loan size of $448,467. In 2024, his production totaled $49.89 million across 138 funded loans.

“We’re building something truly special here in Houston, and Chris’s return is a reflection of that momentum,” said Chris Kelso, senior vice president and Houston regional manager at Rate.

“He brings deep market knowledge, a relentless drive to help clients succeed, and the kind of leadership that inspires everyone around him. Having someone of his caliber back on our team is a huge win for the Houston market and for Rate as a whole.”

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Award-winning Limestone Coast estate for sale after century in one family

It’s been owned by one family for a century, but that could all be about to change for this prominent Limestone Coast estate with award-winning gardens.

The historic Kongorong property at 213 School Rd, which is known as Aberfoyle and has won awards in the Open Home Garden scheme, has hit the market for the first time.

Three generations of the Lightbody family have lovingly maintained the sprawling property, which is about 20 minutes south west of Mount Gambier, since it was established as a soldier-settler dairy farm.

Dean Lightbody and his siblings Janene and David are selling it on behalf of their parents, who have moved into aged care.

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The Kongorong estate at 213 School Rd has hit the market for the first time in 100 years.

The sprawling estate spans three titles.

The home has been modernised inside.

Mr Lightbody said its transformation from a dairy farm in the 1920s to one of the region’s most admired open gardens makes it a unique offering.

“When dairy operations ceased in 1988, the property transitioned to beef cattle and prime lamb,” said Mr Lightbody, who lives in Melbourne.

It was his parents’ creativity that made the original farmstead a welcoming country home and the surrounding paddocks picturesque gardens, he said.

“It was originally a small garden and when it was my brother’s 21st birthday she (my mother) moved the fence and it never went back – the gardens kept expanding from there,” Mr Lightbody said.

“Mum was a green thumb and got involved in the Open Home Garden scheme and won awards for her creativity.”

The estate is spread over three titles and has a four-bedroom home, guest quarters that were formerly the dairy, and gardens that have hosted many events over the decades.

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Three generations of the same family have maintained it over the years.

It’s an emotional sale for the family.

The property has won several awards for its picturesque gardens.

“It’s an emotional sale,” Mr Lightbody said.

“The original cow shed has been converted into an Airbnb and the shearing shed can be converted into a function centre – there’s so much potential.

“We would have loved to keep it in the family, but we know it’s time for someone else to create their own memories here.”

This property gave us an incredible childhood – the freedom to explore, create, and grow.”

Ray White Mount Gambier’s Tahlia Gabrielli and Leearna Roberts are selling the property, with expressions of interest closing at noon on November 13.

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Custom rebuild rises from ashes at Winchelsea country estate

3240 Princes Highway, Winchelsea, goes to auction on November 15 with $1.875m to $2m price hopes.

A Winchelsea home meticulously rebuilt after a devastating fire claimed its heritage predecessor is the centrepiece of country estate that’s hit the market with income-generating potential.

The vendors have recently put the finishing touches on the custom three-bedroom residence set among cottage gardens at 3240 Princes Highway.

The 5.46ha lifestyle property also includes three self-contained guest cottages with a proven track record as boutique holiday accommodation.

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Tasmanian oak floors feature throughout the main house.

The main living room has an open fireplace and direct deck access.

An outdoor bath clad in corrugated tin is among rustic country touches, though the resident goat and peacock are not included in the sale.

Jellis Craig, Geelong agent Elise Carey expects the property to fetch $1.875m to $2m when it goes to auction on November 15.

She said it had loads of potential for buyers looking for a lifestyle change or to upscale the existing short-stay accommodation business.

“It’s a beautiful property and it’s such a short drive to the main town so I think that’s going to be a huge selling factor,” Ms Carey said.

“It has got three self-contained cottages on the property. The vendors were using them as Airbnb but it wasn’t a full time job and they were generating around $30,000 a year.

“They did express that there is obviously more money to be made there and more potential.”

Cottage gardens surround the three guest cottages, two of which have outdoor baths.

Outdoor entertaining centres around the swimming pool and a large covered deck.

The bedrooms have a classic feel.

The original weatherboard house at the property was badly damaged when a fire broke in 2022.

While its replacement could be mistaken for a period home, with it’s return veranda, 3.3m ceiling and high skirting boards, the vendors switched the exterior from white to black as a point of difference.

The new open-plan kitchen, living and dining area is the centrepiece and links to a swimming pool set in landscaped gardens.

“The original home sadly burnt down and this is a brand new custom designed and built home,” Ms Casey said.

“It’s got Tasmanian oak flooring, 11-foot ceilings and it just feels really beautiful when you walk inside.”

This pint-sized resident is not included in the sale.

This guest cottage has a rustic feel.

She said the vendors were antique dealers who had put their own creative stamp on the individually styled cottages, which have kitchens, bathrooms and courtyards.

The grounds includes fire pits, picnic lawns, mature trees, winding gravel paths and a 15.3m by 25.7m machinery shed.

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