The Next Real Estate Trend: 'Silver Squatters'? | What should you tell home buyers and sellers they need to know about practice changes? | Don't forget sales is a team sport
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Consumers should know that after Aug. 17: If you are a buyer and your agent is using an MLS, you will need to sign a written agreement with your agent before touring a home so you understand exactly what services will be provided and for how much. Written agreements are required for both in-person and live virtual home tours. You do not need a written agreement if you are just speaking to an agent at an open house or asking them about their services. Agent compensation for home buyers and sellers continues to be fully negotiable. When finding an agent to work with, ask questions about their services, compensation and these written agreements. Get more facts about NAR’s proposed settlement agreement at facts.realtor.
Best Practices in Sales & Marketing
Don't forget sales is a team sport Don't forget sales is a team sport, advises sales expert David Brock, who encourages sales managers to provide coaching and support. "Even for the most transactional sales, we rely on our organizations to provide the products, services, customer support that enables us to sell and meet the commitments we make to the customers," Brock writes. Full Story: Partners in Excellence Blog (7/17)
Keep human values a priority when adding AI to marketing Bread and Butter CEO Sooyoung Cho says the same principles of ethical branding must be applied when using AI, guiding marketers by a "human-centric moral framework." Cho details two approaches for incorporating AI into branding: emphasizing creativity and cohesion over replication, and engagement and authenticity over reach. Full Story: Fast Company (tiered subscription model) (7/18)
Bank CEO puts Massachusetts estate on market for $40M A 25-acre oceanfront Massachusetts estate owned by former Citicorp CEO John Reed, has been listed for $40 million with LandVest/Christie's. The Long Point Lane property, features a main house with six en suite bedrooms, a private pier, and Cape Cod Bay frontage. Full Story: The Patriot Ledger (Quincy, Mass.) (7/18)
Through agreement with HUD, Appraisal Foundation faces systemic discrimination issue To combat racial disparities in real estate appraisal, the US Department of Housing and Urban Development and The Appraisal Foundation have reached an historic agreement. TAF, facing allegations of discriminatory barriers against Black and other persons of color, has committed to addressing these issues, as highlighted by data showing the appraisal profession as one of the least racially diverse in the US. Full Story: The Washington Informer (Washington, D.C.) (7/18)
Legislation & Regulation
Fed survey shows economic growth, higher employment The Federal Reserve's latest Beige Book survey indicates slight growth as the economy heads into the third quarter, with several regions reporting flat or declining activity. Employment has increased slightly, but labor turnover has declined, and businesses have become more selective in hiring. Inflation has cooled, with consumer spending little changed, the survey shows. Full Story: Bloomberg (7/17),Reuters (7/17)
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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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