10 reasons you didn't get the listing Of all activities in real estate, listings require the highest level of skill. Working with buyers is physical labor; working with listings is mental labor. Not understanding this is a liability to your career. Learn why it's the most important part of your job. Full Story: REALTOR® Magazine/The Lounge (10/25)
The #1 Reason Agents Fail The number one reason agents fail has nothing to do with how good they are at the technical parts of the business. It has nothing to do with their work ethic or their people skills. Great agents fail every day, and it's simply because they don't >> MORE
General Mills has leveraged the pandemic-related boost to its bottom line and navigated market volatility by transforming its portfolio and launching its data-driven growth strategy Accelerate last year, said CEO Jeff Harmening. With legacy brands enjoying a revival in brand loyalty, "the key is to make sure you keep true to what the brands stand for, in a way that's modern and contemporary and where people receive it well," added Harmening. Full Story: Star Tribune (Minneapolis-St. Paul, Minn.) (tiered subscription model) (10/29)
Real Estate Trends
Slowdown to continue in 2023, homebuilders say Some homebuilders are anticipating a further slowdown next year driven by rising interest rates and a pullback in home demand that was tied to the coronavirus pandemic. Housing starts are down significantly, according to U.S. Census data. Full Story: CNBC (10/31)
Bank CEOs see revival of in-office work Nearly 70% of chief executives at banks believe their staff will be working full time in the office in the next three years, almost double the number of CEOs in other office-based sectors who expressed that view, according to a survey by KPMG. "Banks talk about creating a culture a lot. They firmly believe that that is very hard to establish on a remote basis," says Nathan Stovall, a principal banking analyst for S&P Global Market Intelligence. Full Story: American Banker (10/30)
Construction exoskeletons to be tested for effectiveness Researchers at the Canadian Institute for Safety, Wellness and Performance at Conestoga College in Kitchener, Ontario, plan to gather data from the use of donated exoskeletons at various construction sites to determine their effectiveness in curtailing work strain and injuries. The study could yield data that helps manufacturers enhance the exoskeletons. Full Story: Daily Commercial News (Ontario) (10/28)
NAR's president, who leads the association's first majority-female leadership team, reflects on her role and a changing industry. Full Story: REALTOR® Magazine (10/31)
Fair & Equitable Housing
Slideshow: Cost of rent in major cities Average rent for a one-bedroom apartment in cities such as Philadelphia; Austin, Texas; and Portland, Ore., is north of $1,400, requiring an annual income of more than $61,000 to afford, according to this analysis by SmartAsset. In Chicago, a one-bedroom unit is $1,720 per month on average. Full Story: ThinkAdvisor (free registration) (10/31)
Legislation & Regulation
Fed facing operating losses due to high rates The Federal Reserve has seen a growing amount of operating losses in recent weeks, as it grapples with the high interest rates it has imposed. The income the Fed receives from its $8.3 trillion portfolio of Treasurys and mortgage-backed securities currently amounts to less than it pays in interest to the entities from which it holds funds. Full Story: The Wall Street Journal (10/31)
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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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