Real estate forecast: Market to ease despite high home prices | Tips for converting more real estate leads with retargeting | 2nd historic Fed rate hike unlikely to 'further damage' mortgage borrowers
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Best Practices in Sales & Marketing
Tips for converting more real estate leads with retargeting Retargeting within online advertising campaigns is a way for real estate professionals to "break through the clutter and stay top of mind when your leads are ready to buy or sell," Ben Shepardson writes. This practice offers a number of benefits including bringing in website traffic and increasing conversions. Full Story: Realty Biz News (7/27)
Boise's housing market illustrates broader trends Remote work drove an influx of workers to cities such as Boise, Idaho, earlier in the pandemic, but now housing markets in Boise and elsewhere are cooling as prospective buyers grapple with elevated prices and calls to return to their offices. "Some markets have become much more overheated than others, and I don't think we can rule out price declines in some of those areas," said Nancy Vanden Houten of Oxford Economics. Full Story: The Wall Street Journal (7/27)
AI helps boost foreign investment in US real estate Startup Lendai is using artificial intelligence to make it easier for international investors to participate in the U.S. housing market. Other platforms that use data to assess real estate financing include LoanCheck, FrontStage Capital and Western Wealth Advisors. Full Story: VentureBeat (7/26)
Fair & Equitable Housing
Governor hopeful seeks minimum standard for Georgia's dwellings Gubernatorial candidate Stacey Abrams is calling for a minimum housing quality standard for dwellings in Georgia as a way to ensure that property owners provide safe, clean dwellings for low-income families. Abrams says that with the current "conflation of state laws that say you have to do one thing but don't give anyone the ability to enforce it, what happens is we end up in this endless cycle of dilapidated housing and families that are put in unsafe conditions." Full Story: The Atlanta Journal-Constitution (7/27)
Creating space for DEI in your business There's been a renewed focus on greater diversity, equity and inclusion in the real estate industry, but how can individual agents and brokers be change-makers? In an episode of Drive With NAR, two brokers talk about the steps they've taken to build a safe space for honest conversations in their companies. Full Story: REALTOR® Magazine/Drive With NAR (3/7)
Legislation & Regulation
DOJ reaches settlement with Trident in redlining case Trident Mortgage, a division of Berkshire Hathaway's HomeServices of America, has agreed to set aside $20 million for mortgages in underserved areas as part of a settlement with the Department of Justice. DOJ and the Consumer Financial Protection Bureau say that Trident avoided writing mortgages in minority neighborhoods in Delaware, New Jersey and Pennsylvania. Full Story: The Associated Press (7/27),The New York Times (7/27)
Florida plans to reinsure carriers if ratings are downgraded The Florida Office of Insurance Regulation has reached an arrangement for state-backed Citizens Property Insurance Corp. to provide reinsurance temporarily for carriers expected to have their financial ratings downgraded by Demotech. The plan "satisfies requirements set by the secondary mortgage market" and means that "consumers will not need to seek coverage elsewhere, agents will not need to move policies and lenders can have confidence that these insurers continue to meet the mortgage qualifications," Insurance Commissioner David Altmaier said. Full Story: Reinsurance News (7/27),Insurance Journal (7/27)
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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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