A new opportunity to provide value to buyers | Are written buyer agreements required when MLS participants perform ministerial acts? | Exec: Leaders need to be great sellers
A new opportunity to provide value to buyers The forthcoming rule mandating the use of written representation agreements and other practice changes that are part of NAR's proposed settlement agreement allows you to emphasize and communicate your value to clients. Listen to "Drive With NAR" as two practitioners discuss how to maximize these opportunities with buyers.
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Yes. The obligation is triggered once the MLS participant is working with that buyer and has taken them to tour a home, regardless of what other acts the MLS participant performs. But an MLS participant performing only ministerial acts—without the expectation of being paid for those acts and who has not taken the buyer to tour a home—is not working for the buyer. Get more facts about NAR's proposed settlement agreement at facts.realtor.
Best Practices in Sales & Marketing
Exec: Leaders need to be great sellers Simon Frewer, president of home services at Keller Williams Capital Properties and The Menkiti Group, says starting as a salesperson gave him a unique vantage point. "Great leaders need to be great sellers," Frewer says. "One can't lead unless one can sell!" Full Story: Partners in Excellence Blog (5/13)
Brands want numbers for influencer marketing Competitive analysis and predictive modeling for influencer marketing have gained ground as social commerce grows. While experts agree that gathering data and monitoring trends is valuable, Billion Dollar Boy's Piet Southey cautioned against too much number crunching, noting that "it can sometimes cloud the brand's long-term vision if they're constantly assessing performance on a short-term basis." Full Story: Digiday (tiered subscription model) (5/14)
Single-family rental development proceeds at rapid pace Last year, a record 93,000 new single-family homes for rent were finished, according to John Burns Research and Consulting. The activity comes at a time when elevated mortgage rates are encouraging some Americans to continue renting rather than transitioning to homeownership. Scott Eisen of Invitation Homes recently noted that the company's presence in the market can encourage activity. Builders "might only start a 200-home community, but with us as their partner, they might start a 300-home community," Eisen said. Full Story: The Wall Street Journal (5/14)
Major investors to increase exposure to real estate debt Some major investors are planning to increase their lending to commercial real estate as they try to tap into opportunity in the sector. "Historically through real estate cycles, you would find that generally loans made at the bottom of the cycle ... tend to have the lowest delinquency rates and the highest spreads," said Jack Gay of Nuveen. Full Story: Reuters (5/14)
Technology & Innovations
Understanding workflows key to document digitization Before implementing document digitization services, it's crucial to assess your current workflow to identify areas for improvement. Evaluate your paper-based documentation processes to determine where digitization can enhance efficiency and security. Full Story: BOSS Magazine (5/14)
Fair & Equitable Housing
Housing preservation needed as construction continues Jolie Milstein, president and CEO of the New York State Association for Affordable Housing, calls attention to a lack of funding to preserve affordable housing in the state. "By failing to preserve the affordable housing we currently have, investment in new construction will be for naught—we will be running in place in our efforts to solve the supply crisis," Milstein writes. Full Story: Commercial Observer (5/15)
Legislation & Regulation
Modest interest-rate cuts this year, or a longer wait? Some analysts think inflation is easing and at least small interest-rate cuts are forthcoming this year. Other analysts point to the strength of the labor market, meaning that it may take longer for the Federal Reserve to reduce rates. Full Story: The New York Times (5/14)
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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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