New guidance on practice changes for pros, consumers

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New guidance on practice changes for pros, consumers | Why you need a plan for your social marketing | Turn fear of networking into your connecting superpower

Created for [email protected] | Web Version

August 1, 2024

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New guidance on practice changes for pros, consumers

NAR has developed new materials to help both REALTORS® and consumers navigate the implementation of upcoming real estate practice changes. This includes (1) Fact sheets on what the practice changes mean for home buyers and home sellers, which outline what buyers and sellers should expect after Aug. 17 and the value agents who are REALTORS® provide to consumers in these transactions; (2) A broker's guide to upcoming practice changes, which provides an overview of the settlement, information on corresponding practice changes and implementation, and guidance on how to help consumers understand what these changes mean for them and their homebuying or selling transactions; and (3) A template compensation disclosure for active listing or buyer agreements as of Aug. 17, which can be used for active agreements as of Aug. 17 that will need to be amended or supplemented with a separate disclosure to conspicuously note that compensation is not set by law and is fully negotiable. For more information on requirements for amending active listing or buyer agreements, please see FAQs #52, #53, #71 and #72. These resources and all other settlement-related guidance and materials are available on facts.realtor.

Listing Presentation Templates & Scripts
When it comes to listing presentations, there is one cardinal rule: don't wing it. An intentional and structured listing presentation is paramount to your success, ensuring that every conversation with a potential seller convinces them that you are the perfect agent to sell their home. Check out this guide that walks you through the only Listing Presentation you need, in any market.

Best Practices in Sales & Marketing

Why you need a plan for your social marketing Social media is content marketing. You don't want to be 100% sales all the time. Figure out your goals for your social content. The main one is to build an audience and bring attention to your business. But what else do you want to do? Do you want to educate, inform or simply engage? Full Story: REALTOR® Magazine/The Lounge (7/30)

Turn fear of networking into your connecting superpower

(Tom Werner/Getty Images)

You could be afraid of building out your professional network if you don't have a short, powerful introduction already planned, you are shy about starting conversations and you don't like to "brag" about your accomplishments, writes business presentation coach Leslie Fiorenzo. "Shifting your mindset, setting realistic goals, practicing active listening, attending networking workshops and seeking support from peers are effective strategies for transforming networking from a source of fear into a rewarding aspect of your leadership journey," Fiorenzo writes. Full Story: SmartBrief/Leadership (7/31)

Is your brand at risk of 'content decay?'

(Diggity Marketing/Pixabay)

WPBeginner's Syed Balkhi explains the concept of "content decay"—when content becomes less relevant over time, loses value and can adversely affect brand reputation. Balkhi describes steps to take to identify and fix the problem, including auditing performance and expanding your strategy to add more topical depth to content marketing. Full Story: SmartBrief/Marketing (7/31)

818 Spirits CMO on culturally relevant marketing Kathleen Braine, chief marketing officer of 818 Spirits, talks about favorite ad campaigns and marketing trends, including the use of generative AI and tapping culturally relevant moments to connect with audiences. "I think the key is to ensure the work is authentic to your consumers and your brand—and that it's built on real insight versus just something random that's happening on social media," Braine says. Full Story: Marketing Brew (7/30)

Real Estate Trends

Advice: Seek solutions when buyers get cold feet Real estate professional Roger Taylor shares tips for what to do when a buyer backs out near the closing. He advises maintaining composure, finding out why the buyer has cold feet and exploring possible solutions. Full Story: LinkedIn (8/1)

Technology & Innovations

AI can enhance AR/VR engagement As AI steals the spotlight, it also may revitalize interest in augmented and virtual reality, say industry experts. Code and Theory's Dan Gardner and Left Field Labs' Eric Lee highlight the potential of AI to make interactions in AR/VR more engaging and meaningful, with Gardner noting, "AR and VR is really part of this more spatial computing, which is really the blend of all senses—your eyes, your ears, the way you move." Full Story: Digiday (tiered subscription model) (7/31)

News from NAR

Diving right in

(Bryce Vickmamrk Photography)

It's a pivotal moment in real estate, and National Association of REALTORS® President Kevin Sears is springing into the future with unbridled optimism. Full Story: REALTOR® Magazine (7/17)

Fair & Equitable Housing

Affordable complex residents say conditions must improve Residents of the Cecil Hotel in Los Angeles, an affordable housing complex, have protested at Los Angeles City Hall, demanding improved living conditions after dealing with unresolved maintenance issues, roach infestations and mold. The building has been used as affordable housing for people who are homeless since late 2021. Full Story: WABC-TV (New York City) (7/31)

Legislation & Regulation

Geithner, Paulson flag challenges despite strong economy The economy is strong but faces significant challenges, including government debt and protectionist pressure, former Treasury secretaries Timothy Geithner and Henry Paulson say. "We're still a safe haven—flight to safety in a messy, dangerous world—and that's a huge benefit," Geithner says. But "people in policy have to understand, that position the dollar enjoys, there's no entitlement to that," Geithner says. "It's not like a guarantee." Full Story: Bloomberg (7/30)

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About The National Association of REALTORS®

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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