4 strategies for sticking to your 2023 business plan | How marketers are beginning to tap into AI tech | A holiday gift to home buyers: Lower mortgage rates
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Best Practices in Sales & Marketing
How marketers are beginning to tap into AI tech Marketers are beginning to tap into artificial intelligence for image, content and virtual influencer generation, data mining and return on investment analysis, writes Adrianne Pasquarelli. Examples offered include Mastercard's use of the technology to spot trends, develop creative and buy media. Full Story: Ad Age (tiered subscription model) (12/7)
Supply and demand gap: California's 2022 housing trends The national trend of rising mortgage rates has been evident in California this year, where home sales and price growth have fallen. The state's housing supply does not meet the demand and Californians have responded to the high homelessness rate by voting to fund homelessness programs and supporting zoning changes that incentivize homebuilding. Full Story: The New York Times (12/8)
Over half of renters say homeownership is out of reach Homeownership seems uncertain for many Americans as 54% of renters report that they don't believe they will ever afford to own a home, according to a survey by Credit Karma. Many renters indicated that they are waiting to buy a home because of a potential recession or concerns about job security, and 56% said they spend a majority of their income on rent. Full Story: MarketWatch (tiered subscription model) (12/8)
Technology & Innovations
Lending software startup Setpoint raises $43M Setpoint, a startup that develops software for asset-backed lending, raised a Series A round worth $43 million. The company is looking to add to its operations and engineering teams and expand beyond its original focus of real estate lending. Full Story: TechCrunch (tiered subscription model) (12/7),FinTech (12/7)
Don't forget to celebrate success to sustain it Business owners tend not to celebrate and examine the rare triumphs, thereby missing lessons on how to maintain their success, writes Seth Garland of marketing agency Versatility Creative Group, which doubled its size in 2022. Garland outlines how to analyze and replicate wins, re-evaluate client lists and turn achievements into marketing content. Full Story: ColoradoBiz Magazine online (12/5)
Fair & Equitable Housing
Boston City Council calls for expanded affordable housing Members of Boston's City Council urged Mayor Michelle Wu to expedite the process of updating the city's affordable housing requirements in new developments. The council's resolution asks Wu to increase the Inclusionary Development Policy of units in new housing to be designated for lower- and middle-income residents to 20% from 13%, mandate the application of the policy to buildings with at least five units and require that more buildings be made affordable to lower-income residents. Full Story: The Boston Globe (tiered subscription model) (12/8)
Legislation & Regulation
California REALTORS® to release new purchase contract The California Association of REALTORS® is releasing an updated real estate purchase agreement that includes changes to how agents are paid commission. The new RPA is designed to increase transparency and offers more choices for how to split home-sale commissions, including buyers paying their broker's commission, that may create a hurdle for low-income buyers. Full Story: Los Angeles Daily News (12/8)
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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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