Tracy Kasper: REALTORS® are hurting, but we have hope | Why long-term sales training is a better bet | Home buyers say this is their magic mortgage rate
NAR's president acknowledges the pain caused by harassment at the association and lays out steps for change moving forward. Watch her special message to members. Full Story: REALTOR® Magazine (9/7)
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Best Practices in Sales & Marketing
Your politeness may make you a target A friendly disposition comes naturally for those who work in a "people business," like real estate pros do. But your congeniality also can unintentionally signal to bad actors that it's easy to take advantage of you. REALTOR® Janet Judd, who also is a former police officer, discusses with two brokers how to take charge of any situation in the latest "Level Up" video. Full Story: REALTOR® Magazine (9/8)
Short-term sales training may lead to fast results, but they're only temporary, as new hires may miss the training, old team members may leave, lessons may not be reinforced and next steps typically are missing, Mary Flaherty of Rain Group writes. Long-term sales training shows results fairly quickly and over time, as it constantly reinforces skills so all employees are captured and continually teaches new skills, Flaherty says, detailing how the training works. Full Story: RAIN Group Sales Blog (9/6)
Real Estate Trends
Home buyers say this is their magic mortgage rate The interest rate on a 30-year loan has averaged above 7% for four consecutive weeks. It'll have to come down significantly for most prospective buyers to return to the market, a new survey shows. Full Story: REALTOR® Magazine (9/7)
Apartment construction surges Twenty metro areas account for the greatest share of apartment construction, which is on track to total 461,000 units nationwide this year and mark a 50-year high, according to a report by RentCafe. The surge comes amid a chronic housing shortage and as higher interest rates and fees suppress homebuilding. Full Story: Axios (9/7)
Off-market mansion sets record in Aspen Developer Leathem Stearn has confirmed a record home sale for Aspen, Colo., an off-market property that sold for $76 million. The deal included a house swap for $25 million. Full Story: The Wall Street Journal (9/6)
Harvard prof shares what makes employees happy Academic research shows the importance of promoting employee happiness, writes Inc. columnist Jessica Stillman. Arthur Brooks, professor at Harvard Business School, says the happiest employees "feel like they're earning their success, which is to say that they're creating value with their lives and with their work lives, that their accomplishments are moving the needle and they're being recognized for those accomplishments." Full Story: Inc. (tiered subscription model) (9/7)
Moody's: Some lenders fall short in monitoring CRE risk A survey of 55 banks found that some were unable to produce up-to-date information about commercial real estate values and whether borrowers are likely to struggle with interest payments, Moody's Investors Service says. Having robust analytics enables lenders to be proactive in addressing potential areas of trouble, says Stephen Lynch of Moody's. Full Story: American Banker (9/7)
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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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