Know your duties as data privacy enforcement ramps up | 'Master suite': Why the language in listings matters | Lessons learned for business from bank failures
Consumers are demanding increased transparency about how their personal information is being used. Watch this video for best practices when handling sensitive client data. Full Story: REALTOR® Magazine (6/7)
How they closed 690 opps using video What would you do with almost 700 more closed opps from first-time clients? Learn how Adviser Investments did it with video, and learn how your team can get started too.
Lessons learned for business from bank failures Since recent bank failures, businesses now are paying better attention to protecting their cash deposited in financial institutions, writes Benjamin Verschuere, co-founder of Treasure Financial. Never keep more than what's FDIC-protected in any one bank account, spread funds among several financial institutions, stash cash in securities or other safe instruments that pay a good return, and do a regular evaluation of your deposit safety, Verschuere says. Full Story: Forbes (tiered subscription model) (6/5)
Tapping into a potential buyer's emotions, and understanding them, can help improve sales success, and getting beyond the surface requires asking certain open-ended questions, listening so they feel heard, contextualizing and telling stories. "Sales professionals who want to stay relevant and successful in modern sales must learn how to uncover and identify buyer emotions and position their products accordingly," writes Anita Nielsen, president of LDK Advisory Services. Full Story: HubSpot (6/5)
Real Estate Trends
What will a wave of new supply mean for apartment rents? More than 950,000 multifamily units are under construction across the country, according to the Census Bureau, and a recent Green Street report suggests that the Sun Belt could be particularly exposed to the new supply. The wave of development could affect rental rates, although both Camden Property Trust and MAA indicated during earnings calls that they expect any negative impact to be short-lived. Full Story: The Wall Street Journal (6/5)
Study: Construction of single-family rental homes surges A RentCafe study shows construction of single-family rental homes jumped 47% year over year in 2022 and reached a record high. The total of 14,500-plus homes is more than twice the pre-pandemic pace of homebuilding, with growth spurred by pandemic-related lifestyle changes, as well as elevated interest rates and housing prices, the study shows. Full Story: Multifamily Dive (6/5)
Technology & Innovations
How AI could aid key financial tasks Artificial intelligence could assist with or automate certain crucial tasks, including data entry, data processing and financial analysis. Still, human expertise remains essential for putting financial data into the proper context and understanding the nuances of an industry. Full Story: Entrepreneur (6/6)
Business Wellness
Making a difference through local philanthropy American artist Edward Hopper left a lasting legacy that influenced one real estate broker to become an arts education advocate. Learn how you can stretch your community service beyond this week's REALTOR® Volunteer Days. Full Story: REALTOR® Magazine (6/5)
World Bank economist offers 'gloomy' growth assessment Indermit Gill, chief economist at the World Bank, has called its latest findings on the world's economic outlook "another gloomy report." While the it has raised its estimate of GDP growth in 2023 to 2.1% from the 1.7% it projected in January, Gill said the bank expects "last year's sharp and synchronized slowdown to continue to this year into a sharp slowdown," exacerbated by the Russia-Ukraine war and high central bank interest rates. Full Story: The Associated Press (6/6)
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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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