Slight uptick in home sales as more listings hit market | Consistency is crucial when negotiating with consumers | TikTok overtakes YouTube in video marketing
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TikTok overtakes YouTube in video marketing Digiday+ research indicates that this year, TikTok has overtaken YouTube in video marketing usage among brands and retailers, with 67% posting on TikTok versus 60% posting on YouTube. Snapchat was the third most-popular channel with 13% of survey respondents posting there. The study reflects data from a specialized audience of publishers, agencies, brands, and tech professionals, highlighting TikTok's rising prominence in the social media marketing landscape. Full Story: Digiday (tiered subscription model) (8/20)
John Maxwell: You want your team to be honest with you Leaders who take the "low road" aren't interested in learning about their weaknesses and anyone else's perspective, says bestselling author and leadership expert John Maxwell, who notes that "high road" leaders want those around them to be honest and tell them what they may be missing in any situation. "That has to come from the top because people that don't have that permission won't usually be open enough to share it," Maxwell says. Full Story: Chief Executive (8/20)
Real Estate Trends
NYC could top US in new apartment construction for 2024 At the current pace of construction, the New York metropolitan area is likely to build more apartment units this year than any other major city in the country, according to a report from the real estate firm RentCafe. By the end of the year, 32,935 new rental units are expected to be completed, the report said. Full Story: QNS (Bayside, N.Y.) (8/22)
Wells Fargo divesting most of its CRE mortgage servicing Wells Fargo has agreed to sell the nonagency third-party servicing segment of its commercial mortgage servicing business to commercial real estate loan servicing provider Trimont, which will become the biggest US CRE loan servicer, overseeing loans totaling about $715 billion. The deal includes an estimated $475 billion in loans and is part of Wells Fargo's plan to focus on its core businesses. Full Story: Banking Dive (8/20)
The power of brutally honest feedback Chris Cavallini, the founder of Nutrition Solutions, holds his employees to high standards and doesn't hesitate to deliver brutally honest feedback. "If someone can't take direct feedback about something they're not exceptional in without getting their ego bruised, they forfeit their ability to grow and certainly can't be part of my team," Cavallini says. Full Story: SmartBrief/Leadership (8/20)
Fair & Equitable Housing
Federal funds could support Virginia's affordable housing developments The US Senate Appropriations Committee has passed draft bills that would allocate million of dollars to projects in Charlottesville and Albemarle County, N.C. This funding aims to support affordable housing, infrastructure, and youth engagement initiatives, including the renovation of a commercial building on Cherry Avenue to create affordable housing units and funding for Habitat for Humanity projects. Full Story: WVIR-TV (Charlottesville, Va.) (8/21)
Legislation & Regulation
Revisions show job growth slower than previously thought Preliminary revisions to employment data from the Labor Department show that the economy added 818,000 fewer jobs than previously thought during the 12 months through March. The preliminary revisions suggest that job growth was almost 30% below the initially reported numbers. Full Story: CNBC (8/22),The New York Times (8/21),The Wall Street Journal (8/21)
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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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