Listen: What's at stake in the Sitzer/Burnett trial NAR is defending buyer representation and the American MLS model, which are being challenged in two class-action antitrust lawsuits. The first case in Kansas City, Mo., known as Sitzer/Burnett, is happening now. And the outcome could have a lasting impact on the way real estate professionals and transactions operate. Hear the critical details of the case, as well as potential outcomes, from NAR Chief Legal Officer Katie Johnson in a special episode of the "Drive With NAR" podcast. Full Story: REALTOR® Magazine/Drive With NAR (10/16)
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Best Practices in Sales & Marketing
What you need to know about condo sales If done right, the transaction should feel similar to buying other residential real estate. There are specifics to take into consideration that should not be ignored, but none of them should make the process feel like advanced algebra. Full Story: REALTOR® Magazine/The Lounge (10/10)
That moment you, your clients still laugh about Real estate is sometimes fun and games. REALTOR® Magazine wants to know about your funniest or most embarrassing memory while working with customers in the field. Give us the details and your story may appear in the print magazine's "In the Trenches" section. Don't be shy!
A leader's most valuable superpower is seeing the future, which is possible by keeping abreast of studies and analyses. "[L]eaders with the superpower of seeing (and seizing) this future are well poised to plan for—and even change it—by taking several steps today," leadership coach Julie Winkle Giulioni writes. Full Story: SmartBrief/Leadership (10/12)
Just the Facts, Ma'am "I stopped watching the news, so sick of the bias. Was searching for an alternative that would just tell me WHAT happened, with NO editorializing. I found it. It's called 1440. It assumes you are smart enough to form your own opinions." Subscribe for free.
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Real Estate Trends
Why first-time buyers are ideal victims for scammers Younger home buyers who don't have prior experience in the real estate market may be naive to the red flags of wire fraud. You'll need to know cybersecurity best practices and share ways to thwart common hacking threats in order to better protect these clients. Full Story: REALTOR® Magazine (10/16)
Home sales affected by borrowing costs, limited inventory Total existing home sales this year could decline to the lowest point since the subprime crisis period, dragged down by increased mortgage rates, elevated purchase prices and a limited inventory of available houses, according to economists' forecasts. Redfin estimates that existing home sales will total around 4.1 million this year, which would be the lowest tally since about 2008. Full Story: The Wall Street Journal (10/16)
Foreign investors in U.S. CRE plan on office conversions Nine in 10 foreign investors in U.S. commercial real estate plan on converting office buildings to residential developments in the coming years, according to a new survey by AFIRE. Other uses for office space are also being considered, including conversions that would create industrial storage space, data centers and hospitality properties. Full Story: Connect CRE (10/13)
Technology & Innovations
Adoption key to driving AI productivity boost AI could revolutionize workplace technology, but to what extent remains to be seen and depends on several factors, such as how widely adopted the technology is, how skilled people become at using it and how it translates into productivity. According to Goldman Sachs, AI could boost U.S. productivity growth by 1.5 percentage points if widely adopted. Full Story: The Wall Street Journal (10/16)
Fair & Equitable Housing
Grants support affordable housing construction in state New Horizons Community Development Corp. is spearheading an affordable housing initiative in Plaquemine, La., with support from state grant funds. Executive Director Linda Johnson said the project aims to instill a sense of pride in the community and address the housing shortage in the area. Full Story: The Advocate (Baton Rouge, La.) (10/16)
Legislation & Regulation
Fed's Harker: It could be time to hold interest rates First-time homebuyers are being deterred by the current interest-rate environment, says Federal Reserve Bank of Philadelphia President Patrick Harker. In addition, Harker reiterated the idea that interest rates can be held at their current level absent a significant shift in the data. Full Story: Reuters (10/16)
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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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