How to win support for commercial conversions | Be authentic to overcome salesperson stereotypes | Don't fall into uniformly weak decisions, coach writes
How to win support for commercial conversions Transforming underused commercial space into housing is a trend that could help alleviate the inventory crunch. But you need creative amenities to make it work, experts say. Full Story: REALTOR® Magazine (2/28)
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Best Practices in Sales & Marketing
Be authentic to overcome salesperson stereotypes Salespeople can overcome the stereotype of being pushy or manipulative by practicing self-awareness and authenticity and being aware of the challenges a prospect is also facing, say University of Southern California adjunct professors and authors Colin Coggins and Garrett Brown. "Give yourself permission to be authentic and be aware that the world will give you credit for your flaws, that the world will give you credit for being just like the person you're talking to, who is imperfect," Coggins says. Full Story: McKinsey (2/27)
Don't fall into uniformly weak decisions, coach writes Groupthink, in which group members value agreement over realistic decision-making, thwarts creativity and healthy work environments, business coach Peter Cheel writes. Open communication, having team members with diverse backgrounds, getting outside perspectives and five other practices can steer companies away from the phenomenon, Cheel explains. Full Story: Big Ideas for Small Business (2/27)
Real Estate Trends
Connecticut home listed for $2.9M complete with studio This Westport, Conn., mansion has a nice recording studio, but it's not the home of some Wall Street wannabe rocker; no, it's where some of the most famous jingles ever were written (This Bud's For You; Just For The Taste Of It, Diet Coke; and many more). Not in the article, but easily discerned, it's the studio of Joey Levine, and you can spot a shot of the studio itself in the real estate listing. Full Story: CT Insider (Conn.) (2/24)
Ontario buyers increasingly turning to private lenders Buyers in Ontario, Canada, have been seeking out private mortgages at a higher rate. "With rising interest rates, high inflation and a slowing economy, more consumers are struggling to qualify for a traditional loan," said Huston Loke of the Financial Services Regulatory Authority of Ontario. Full Story: BNN Bloomberg (Canada) (2/27)
Technology & Innovations
Window-cleaning robots could come to more skyscrapers Robots could make their mark on the cleaning industry by scrubbing the walls and windows of skyscrapers in major cities. Companies such as Skyline Robotics and Verobotics have created window-cleaning robots that rely on artificial intelligence to accomplish their jobs. Skyline's solution is a six-armed device that operates out of a traditional window-cleaning basket, while Verobotics' device can be lowered from a building roof. Full Story: Axios (2/24)
Business Wellness
Rooting out appraisal bias By avoiding the use of subjective terms and phrases commonly used in property marketing, appraisers can keep bias out of their valuation reports. Full Story: REALTOR® Magazine (Jan. 31, 2022)
Commentary: What if SCOTUS rules against CFPB? The Consumer Financial Protection Bureau noted in its petition for U.S. Supreme Court review that certain other federal entities -- such as the Federal Reserve, the Federal Deposit Insurance Corp. and the Federal Housing Finance Agency -- are unusually but not necessarily unconstitutionally funded, and it pointed to high court precedent on the issue. Matt Ford writes that a Supreme Court ruling against the CFPB could ultimately roll back consumer safeguards against predatory practices and "inject legal uncertainty into a wide range of mortgages, student loan agreements, and other contracts already signed under the existing regulatory framework." Full Story: The New Republic (free registration) (2/27)
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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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