4 ways the sustainability niche can transform your business | 'Teamerage' model could solve small brokers' growing pains | Get the generations talking to boost business success
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Best Practices in Sales & Marketing
'Teamerage' model could solve small brokers' growing pains Combining the best assets of the brokerage and real estate team concepts can help provide agents what they need while taking pressure off the broker. Here's how one broker rejiggered her company to work better for her. Full Story: REALTOR® Magazine (11/16)
Get the generations talking to boost business success Reverse mentoring can help companies increase engagement, diversity and the skills of the workforce, but to succeed, everyone—especially C-suite executives—must see the value in such programs, experts say. "It takes two to tango; the programs that we saw that weren't successful, the number one reason was that senior executives just didn't take it seriously," says Jennifer Jordan, a professor at the Institute for Management Development in Switzerland. Full Story: BBC (11/14)
Using social listening to boost online results Social listening tools are digital solutions that track brand mentions, customer engagement and other metrics in real-time, writes entrepreneur Aleh Barysevich. The tools can help a business test the effectiveness of its marketing, improve social media strategies and better target its audience, Barysevich writes. Full Story: Entrepreneur (11/14)
TikTok has grown into a "digital advertising juggernaut" and eclipsed rivals by boosting time spent among its average user to 96 minutes daily, offering ad formats that resemble its other content, cultivating brand/creator relationships and promoting #TikTokMadeMeBuyIt. While brands are gravitating to the platform and report strong returns, some are still concerned about content quality, bot traffic and data security. Full Story: The New York Times (11/14)
Real Estate Trends
Exorbitant prices for luxury homes get reality check The slowdown in home-buyer interest has reached the luxury side of the housing market, agents say, with some sellers cutting prices drastically as properties linger without offers. Brown Harris Stevens CEO Bess Freedman describes the price run-up in recent years as "this huge party with champagne and caviar and everyone was thinking it was never going to end," adding: "Now, it's like the lights have been turned on. It's a different environment." Full Story: The Wall Street Journal (11/17)
Mortgage application volume rises amid drop in rates Data from the Mortgage Bankers Association shows that mortgage application volume was up 2.7% last week from the prior period. Mortgage rates fell after the release of government data suggesting that inflation could be moderating. Full Story: CNBC (11/16)
City's reparations initiatives focus on housing City Council members in Evanston, Ill., have earmarked an additional $1 million a year to bolster municipal reparations programs that offer funds to help pay for home purchases or improvements, including mortgage assistance. Funding via the city's cannabis tax only generated enough to pay 16 of the 122 eligible recipients in the first round of reparations payments. Full Story: The Daily Northwestern (Evanston, Ill.) (11/15)
Legislation & Regulation
JPMorgan: US to experience mild recession next year JPMorgan Chase economists predict that the economy will slip into a mild recession in 2023 as a result of the Federal Reserve's monetary tightening. "We also expect slowing aggregate demand eventually leading to labor market weakness that builds on itself, and we anticipate that we could lose over a million jobs by the middle of '24," the economists wrote in a report. Full Story: Bloomberg (11/16)
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The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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