Rejected for another broker? Don't call to ask why | In the trenches: Caught up in the moment | Top trends shaping online reputation management in 2024
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Top trends shaping online reputation management in 2024 Effective online reputation management is essential for businesses. It involves continuous monitoring, community management and engagement and quick, personalized communication, according to Nikita Prokhorov, partner in Arctic Ventures. Prokhorov advises against using templated or scripted responses and advocates for personalized interactions. Full Story: Forbes (tiered subscription model) (7/22)
Simplified messages can connect, make an impact Renee Sieli, founder of ERPR Group, spotlights the importance of clarity and audience comprehension as topics become more complex. Start by avoiding assumptions, which can obscure the message, and take an elementary approach to ensure the audience understands the basics, Sieli writes, then move on to examples and analogies to bridge the gap. Full Story: PR Daily (7/22)
Real Estate Trends
Existing home sales fall as median price reaches record Existing home sales in the U.S. reached a 3.89 million annualized rate in June, falling 5.4% from the prior month to reach one of the slowest rates since 2010, according to the National Association of REALTORS®. Meanwhile, the median sales price climbed to $426,900, a record level. Full Story: Bloomberg (7/23),The Wall Street Journal (7/23)
U.S. home contracts canceled at rapid pace in June Almost 56,000 home purchases were canceled in June, an amount equivalent to 15% of the homes that went under contract during the month, according to Redfin. It was the highest rate on record in data that stretches back to 2017. Elevated home prices are one factor affecting buyer behavior. "They're backing out due to minor issues because the monthly costs associated with buying a home today are just too high to rationalize not getting everything on their must-have list," said Redfin's Julie Zubiate. Full Story: Bloomberg (7/23)
Average condo sales prices rise in Miami Miami-Dade County saw an increase in condo sales last week, with 140 units sold at a combined $131 million, led by a $14.8 million closing at Continuum on South Beach. The average sale price rose to $938,812 from the previous week's $821,936, with notable deals at Continuum South Beach and Estates at Acqualina. Full Story: The Real Deal (7/23)
Technology & Innovations
Tech transforming job roles in construction, real estate The integration of advanced technologies in construction is creating new job roles, including robotic equipment operators who manage autonomous machinery and AI architects. This mirrors similar advancements in property management and real estate, as noted in the CRETI Proptech Jobs Index. Full Story: Forbes (tiered subscription model) (7/23)
Participants in executive coach Alaina Love's recent mastermind group reflected on what they wish they had known earlier about being a leader, and answers ranged from realizing they'd need a growth mindset to getting enough sleep and eating right to have the stamina for the job. "The research on nutrition and brain function has convinced me that eating well is an important part of my job as a leader. I can't show up as my best for the team if my brain doesn't have quality fuel," said one participant. Full Story: SmartBrief/Leadership (7/22)
Fair & Equitable Housing
More than half of student homelessness funds are unspent The American Rescue Plan allocated $800 million to combat student homelessness, with over half of the funds distributed so far nationwide. States face challenges in spending the money within the three-year deadline due to existing underfunding and capacity issues. Full Story: WUSF-FM (Tampa, Fla.) (7/22)
Legislation & Regulation
Economists expect rate cuts in Sept., Dec., poll shows Most economists in a Reuters poll are expecting two interest-rate cuts in 2024, with the reductions forecast for September and December. All 100 of the economists in the poll are expecting the Federal Reserve to hold rates steady at its meeting this month. Full Story: Reuters (7/23)
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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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