Agents want a broker who communicates When the real estate market becomes turbulent, many agents are tempted to jump ship. To help prevent this, it's essential to build trust—which assures loyalty. "The only way you gain trust is through communication," says Cindy Ariosa, a regional manager with Long & Foster Real Estate in Maryland. Full Story: REALTOR® Magazine (3/24)
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How one salesperson used a long game to score customers A Japanese pharmaceutical saleswoman of dementia medication was continually rebuffed by doctors, so she spent a year creating social value by providing demonstrations and lectures on avoiding falls. Doctors, who'd started hearing unsolicited raves about the company from patients, started engaging with the sales rep, who doubled her sales in six months, says Isaac Getz, a Paris business professor and author. Full Story: Raconteur (UK) (3/24)
AI chatbot alternatives to ChatGPT The artificial intelligence tool ChatGPT has become so popular that its free service is sometimes at capacity. Here is a closer look at ChatGPT and a list of alternative AI chatbots, as well as their strengths and weaknesses. Full Story: ZDNet (3/24)
Business Wellness
Workers too busy and embarrassed for mental health care Some 61% of workers used their benefits package to access routine health care while mental health care was used by just 19%, according to a OneMedical survey. Several reasons were cited by employees for not taking advantage of mental health care benefits, with the top one being packed schedules followed by embarrassment and cost. Full Story: HR Dive (3/23)
Fair & Equitable Housing
Freddie Mac offers assistance to first-time buyers Freddie Mac's BorrowSmart Access program helps first-time Latino and Black home buyers with money for down payments or closing costs. "This product is seeking to address the challenge of having the cash to get into a first-time home," said Pam Perry, vice president of single-family equitable housing at Freddie Mac. Full Story: St. Louis Public Radio (3/27)
Legislation & Regulation
Fed's Kashkari: Bank turmoil raises recession risk Economists see heightened risk to the global economy from recent turmoil in the banking sector, combined with rising interest rates and other factors. Federal Reserve Bank of Minneapolis President Neel Kashkari said it was too soon to judge the impact of disruption in the banking sector but said the situation "definitely brings us closer" to recession. Full Story: BNN Bloomberg (Canada) (3/26),The Wall Street Journal (3/26),Reuters (3/26)
SVB deposits, loans acquired by First Citizens First Citizens Bancshares has agreed to acquire $56.5 billion in Silicon Valley Bank deposits and $72 billion in loans at a discount of $16.5 billion. The transaction excludes $90 billion of SVB's securities portfolio. Full Story: CNBC (3/27),The Wall Street Journal (3/27),Bloomberg (3/27)
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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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