Are you able to take a break from your business? Sometimes, a pause in your business is exactly what you need to refresh and renew. Whether because of an illness, family emergency, vacation or an unplanned life event, you should set your business up so you can commit to "turning off." But you may need to combat the fear of loosening the reins and turning your clients over to someone else while you're gone. Listen to the latest episode of the "Drive With NAR" podcast to find out how. Full Story: REALTOR® Magazine/Drive With NAR (10/7)
Improve personal resilience for more productive teams Burnt-out managers negatively impact team success by passing on their stress to their teams, leading to poor decision-making and reduced productivity. By studying what energizing days entail, creating pause rituals and finding trusted confidants, leaders can manage their stressors, maintain clarity and increase resilience, according to Tarun Galagali, CEO and founder of Mandala. Full Story: Forbes (tiered subscription model) (10/4)
Mobile apps help small businesses engage customers Customer relationship and other mobile apps are helping small businesses better engage with customers and operate more efficiently. Through apps, small businesses can enable notifications and provide special incentives to loyal customers. Full Story: WebProNews (Lexington, Ky.) (10/7)
Expert: Natural catastrophes driving property valuations, deal pricing Commercial real estate investors are increasingly contending with rising insurance costs due to less reliable coverage and more destructive hurricane seasons. Joseph Sumberg of Galvanize Climate Solutions says this trend is becoming a major factor in property valuations and deal pricing. While insurance coverage is becoming harder to obtain in hurricane-prone areas, Sumberg sees investment opportunities for asset managers who track the right climate-related data. Full Story: BNN Bloomberg (Canada) (10/7)
Technology & Innovations
NYC apartments combine affordability, high-tech appeal New York apartments provided by startup Roomrs include smart-home technology as a key amenity. The units, fully furnished and equipped with Internet, feature smart lights, locks, plugs and thermostats from IOTAS, as well as smart mattresses from Eight, making them particularly appealing to young renters. Full Story: Government Technology (10/7)
Grant funds support Pennsylvania town's affordable housing project Luminest Community Development will receive approximately $260,300 in 2024 Community Development Block Grant funding to develop affordable housing for seniors in Cumberland Township, Pa. The project, known as North Ridge, will consist of a 40-unit apartment building with supportive services, addressing the region's shortage of affordable housing for individuals age 62 and above. Full Story: The Gettysburg Times (Pa.) (10/7)
Legislation & Regulation
CFPB, Fed hike threshold for TILA safeguards to $71.9K Consumer credit and leasing transactions of $71,900 or less will be subject to Truth in Lending Act requirements in 2025 under changes made by the Consumer Financial Protection Bureau and the Federal Reserve. The increase from the current $69,500 threshold marks a smaller percentage increase from last year as inflation has abated. Meanwhile, the Office of the Comptroller of the Currency will increase the appraisal-exemption level for mortgages to $33,500 from $32,400. Full Story: PYMNTS (10/4),American Banker (10/4)
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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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