A loan product poised to revolutionize retirement | How will offers of compensation be communicated if brokers can't use MLSs? Doesn't this make broker compensation less transparent? | Brands get feedback from Facebook groups
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Offers of compensation could continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. And sellers can offer buyer concessions on an MLS (for example, concessions that can be used for buyer closing costs). The settlement does not change the ethical duties that NAR members owe their clients. REALTORS® are always required to protect and promote the interests of their clients and treat all parties in a transaction honestly (Article 1, COE). NAR members will continue to use their skill, care and diligence to protect the interests of their clients. NAR remains dedicated to promoting transparency in the marketplace and working to ensure that consumers have access to comprehensive, equitable, transparent and reliable property information, as well as the ability to have affordable professional representation in their real estate transactions. Get more facts about NAR's proposed settlement agreement at facts.realtor.
Best Practices in Sales & Marketing
Brands get feedback from Facebook groups Consumer discussions on Facebook groups have become valuable sources of feedback and loyalty for brands like Grove Collaborative, Peloton and Instant Pot. "If you show me a more authentic community, you're building that trust you don't get on ads," said Gartner Director Analyst Claudia Ratterman. Full Story: Modern Retail (tiered subscription model) (6/3)
Why 'I don't know' is the smartest leadership answer Saying, "I don't know," as a leader isn't a sign of weakness; instead, it shows that you know your team can often be smarter than you and have ideas and solutions you may not have yet considered, writes columnist Jason Aten. "As a leader, even though it can seem unsatisfying to not have an answer for everything, making bad decisions just because you want to look like you know everything is the one thing you should never do," Aten notes. Full Story: Inc. (tiered subscription model) (6/3)
Home prices, mortgage rates affect housing demand Home listings are starting to increase, but buyers are in short supply in many markets, with the average rate on a 30-year mortgage remaining around 7%. "You can have high prices or you can have high mortgage rates, but you can't have both for long," said Ralph McLaughlin of Realtor.com. Full Story: Bloomberg (6/1)
Incident draws attention to persistent racism in real estate In a case that is drawing national attention, an octogenarian condo owner attempted to cancel the pending sale of her $749,000 property when she learned that the buyer was a Black woman. The buyer, Raven Baxter, drew attention to the issue by sharing her story on social media. Full Story: The New York Times (5/31),Black Enterprise (6/3)
Legislation & Regulation
Is U.S. economy slowing? Underlying data points to change Underlying financial data points to a stalling U.S. economy that could sway the Federal Reserve in upcoming rate-setting decisions. Personal income increased 0.3% from the preceding month, while personal spending was up just 0.2%, compared with 0.7% in March. Full Story: The Wall Street Journal (6/2)
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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.
DISCLAIMER
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