7 types of tax-deductible home improvements | Does the fact that NAR's settlement agreement does not cover everybody mean that NAR has left large corporate brokerages and affiliated agents to fend for themselves? | Salespeople can improve through authentic curiosity
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Absolutely not. NAR fought to include as many people and companies in the release as possible and achieved a release for everyone it could. Over 1 million NAR members are covered, as are tens of thousands of REALTOR® businesses. The scope of the release makes clear that NAR looked out for its members. Ultimately, NAR was able to ensure that agents—even those at brokerages that are not covered—are among the more than 1 million members released. But despite NAR's efforts, plaintiffs would not agree to include everybody. Those that are not released—the largest companies in the real estate industry—are no worse off now than they were before the settlement. In fact, many are better off, as thousands of their independent contractor real estate agents are released by the settlement. They can choose whether to use the mechanism NAR negotiated. NAR's options included reaching a settlement—whose terms were always going to be affected by the large settlements reached by other corporate defendants—or continuing to appeal the Sitzer-Burnett verdict and litigate the related cases. The latter likely would have resulted in NAR filing for Chapter 11 protection, leaving all members, associations, MLSs and brokerages exposed. Get more facts about the settlement at facts.realtor.
Best Practices in Sales & Marketing
Salespeople can improve through authentic curiosity Curiosity is a key skill for successful salespeople, says Jim Lattin, a professor of marketing at the Stanford Graduate School of Business. Salespeople should ask questions to determine what features are important to the customer rather than making assumptions, which can help salespeople learn to be "authentically curious," notes Lattin. Full Story: InVision blog (4/9)
Dave Kurlan, the author of "Baseline Selling" and CEO of Kurlan and Associates, offers tips on how to determine if salespeople are willing to take constructive criticism and improve their process. Kurlan writes that salespeople are coachable if they are strong in relationship building and responsibility—and trainable if they show a desire and commitment to succeed. Full Story: CustomerThink (4/8)
Real Estate Trends
Sears gets 'unfiltered' on NAR settlement Tune into an episode of the "Real Estate Insiders Unfiltered" podcast to hear from NAR President Kevin Sears on the future of the association and the recently announced settlement agreement. Listen now.
Home with famous former owners attracts $9.5 million offer A midcentury modern beach house in Malibu, once home to both Steve McQueen and Dolly Parton and designed by the renowned Buff & Hensman firm in 1969, has reportedly sold for $9.5 million. The firm "didn't do a lot of beach houses, so to have one that has kept its purity is rare," said Beverly Hills Estates agent Branden Williams, who owned the home with Rayni Williams, his wife and co-listing agent. Full Story: Mansion Global (4/9)
Technology & Innovations
Digital home design gets physical with Havenly Online design firm Havenly is expanding in brick-and-mortar retail with a store that will bring together two recently acquired banners, Interior Define and The Citizenry. Home goods brand The Citizenry is opening a shop-in-shop at custom furniture retailer Interior Define's store in Denver's Cherry Creek North district. Full Story: Forbes (tiered subscription model) (4/7)
Fair & Equitable Housing
Fair housing 'testers' help state nonprofit identify cases Jacksonville Area Legal Aid, a nonprofit law firm in Florida, is seeking "fair housing testers" to investigate discriminatory practices in housing-related agencies, as explained by attorney Suzanne Garrow, who highlights the ongoing efforts and significance of addressing such issues. The firm offers varied roles and compensation for these positions, emphasizing the importance of the work in combating discrimination. Full Story: WJXT-TV/WCWJ-TV (Jacksonville, Fla.) (4/9)
Legislation & Regulation
Concerns grow over mortgage advance-fee lending scams The Federal Trade Commission estimates that nearly 26,000 cases of advance-fee mortgage loan scams were reported in 2023, resulting in losses that were much higher than two years ago, when interest rates began increasing. More mortgage seekers are turning to vendors who offer below-market rates but then vanish with the borrowers' upfront payments. Full Story: Financial Times (4/9)
Former Fed official Bullard still expects 3 rate cuts in 2024 James Bullard, former president of the Federal Reserve Bank of St. Louis, still forecasts three interest rate cuts by the U.S. central bank this year, aligning with the Fed's current stance but contrasting with market expectations, which are leaning toward fewer rate reductions. Bullard's prediction, made at HSBC's Global Investment Summit, is based on inflation moving closer to the Fed's target amid a strong economy, suggesting a potential soft landing for the U.S. economy. Full Story: Bloomberg (4/9)
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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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