Volatility in mortgage rates as recession fears grow | You'll have fewer competitors in this niche market | Tips for real estate pros who work from home
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Best Practices in Sales & Marketing
You'll have fewer competitors in this niche market Energy efficiency and sustainable home features are becoming more mainstream, but few agents truly understand them. In an episode of Drive With NAR, two REALTORS® who have built their businesses in green real estate share steps they took to break into the sustainability market, how green homes are changing and what other pros need to know about rising demand for these properties. Full Story: REALTOR® Magazine/Drive With NAR (7/5)
Tips for real estate pros who work from home Agents working out of the office should continue to maintain regular office hours and set realistic goals, experts say. Other best practices include getting dressed for work to help the mind switch into "work mode" and investing in technology and resources to support the business. Full Story: RealTrends (7/13)
Real Estate Trends
Commentary: Please stop saying the market is 'crazy' This oversimplified view suggests that things are out of control. And is that what you want your customers to think about your business? Real estate coach Jared James offers ways to reframe the conversation. Full Story: REALTOR® Magazine (7/12)
Lack of affordable housing now a nationwide problem The affordable housing shortage, once a problem largely limited to coastal markets, has spread across the country, with Freddie Mac estimating that 3.8 million housing units are needed to keep up with household formation. A complex interplay of forces has contributed to this problem, including tighter regulations for new-home building, rising land and construction costs and a shortage of labor and supplies. Full Story: The New York Times (7/14)
For these luxury listings, 1% commission still worth it Bespoke Real Estate in New York has found success by focusing on listings exceeding $10 million and using data analysis to find the best buyers and sellers. The firm, founded by brothers Cody and Zach Vichinsky, has also reduced its seller's commission to 1%. Full Story: Forbes (tiered subscription model) (7/15)
Technology & Innovations
Startup leverages technology in home design, construction Welcome Homes offers buyers a platform that custom designs new-build homes in addition to arranging financing and even closings. The startup has launched its platform in Philadelphia and Washington, D.C. Full Story: Technically (7/14)
Fannie Mae, Freddie Mac stay mission-focused Flexibility in defining "affordable mission-driven housing" as supported by Fannie Mae and Freddie Mac is a key tool in supporting homeownership, especially for renters. "While the loan volume, role and prominence of Fannie and Freddie has changed and evolved in their rich history, one constant has been their prioritization of mission driven affordable housing transactions," write Evan Blau, Cassia Schaeffer and Katelyn Squicciarini, attorneys at Cassin & Cassin. Full Story: New York Law Journal (free registration) (7/14)
Legislation & Regulation
Montana governor eyes regulatory reform to boost housing Montana's newly created housing advisory council is tasked with finding ways "to increase the supply of affordable, attainable workforce housing" in the state. "Burdensome, restrictive and unnecessary regulations have left Montana with a longstanding shortage of housing that continues to drive up the prices Montanans pay for their home," Gov. Greg Gianforte said. Full Story: Montana Free Press (7/14)
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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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