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Best Practices in Sales & Marketing
Photos: Las Vegas listing includes nod to numerology Douglas Elliman Realty is listing an 8,500-square-foot Las Vegas property for $11.888 million in a nod to owners Angeles Scorsetti and Steve Mason's belief in numerology. The numbers eight and nine feature prominently in the home's design. Full Story: The Wall Street Journal (8/18)
4 strategies to make fact-based decisions Decision-making can be flawed if leaders fall prey to "the illusory truth effect"—believing something is true just because it has been repeated often, write Jonas De keersmaecker and Katharina Schmid from Ramon Llull University, Nadia Brashier from Purdue University and Christian Unkelbach from the University of Cologne. They offer four strategies to verify the veracity of information, including checking biases and questioning assumptions. Full Story: MIT Sloan Management Review (tiered subscription model) (8/17)
Real Estate Trends
Canadian buyers respond to price reductions Home sales are increasing in many Toronto-area neighborhoods as prices decline, according to RE/MAX Canada. "For those buyers that were active in [the second-quarter], improved housing affordability due to easing prices and the threat of higher rates down the road clearly provided the impetus for many to leap into detached home ownership," said Christopher Alexander, president of RE/MAX Canada. Full Story: BNN Bloomberg (Canada) (8/18)
App aims to turn renters into buyers The Gravy app was created to help renters to one day own a home, says CEO Jeff Dinter, with technology to assist with saving up for a down payment and manage credit. The app includes coaching and a mortgage credit score hub. Full Story: Forbes (tiered subscription model) (8/9)
Groups respond to Florida county rent control proposal Two real estate groups have filed a lawsuit against Orange County, Fla., for putting a rent control measure on the November ballot, alleging the proposal is contrary to state law. The proposal does not include new buildings, but it might still affect development decisions, with Ric Campo, CEO of Camden Property Trust, saying, "Camden will not build in a rent-control market." Full Story: The Wall Street Journal (8/18)
Family calls out appraisal discrepancy based on race A Black family in Baltimore is suing loanDepot and 20/20 Valuations after significantly different appraisal values were provided for the same house allegedly based on whether the owner was presented as white or Black. "To be told in so many words that our presence and the life we've built in our home brings the property value down? It's an absolute gut punch," homeowner Nathan Connolly says. Full Story: The New York Times (8/18)
Legislation & Regulation
How large will the next interest rate hike be? Market behavior indicates that many investors believe the Federal Reserve could lower interest rates next year, but officials continue to insist the inflation fight will persist for some time into the future. Meanwhile, the size of the next hike remains uncertain, with St. Louis Fed President James Bullard leaning toward another large increase and Kansas City Fed President Esther George offering a more cautious viewpoint. Full Story: Reuters (8/18),The Wall Street Journal (8/18),Bloomberg (8/18)
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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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