Back to basics: Building relationships in your office, community

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Back to basics: Building relationships in your office, community | How will offers of compensation be communicated if brokers can't use MLSs for that purpose? Doesn't this just make broker compensation less transparent? | Sales profession can be rewarding with right tools

Created for newsletter@newslettercollector.com | Web Version

April 26, 2024

Top News

Back to basics: Building relationships in your office, community Real estate agents can't be the only ones building relationships. Doing so is just as important for brokers and can lead to long-term success and stability. Full Story: REALTOR® Magazine (4/4)

Experience the future of commissions Now is the time to free your brokerage from complicated, manual commission calculations. Get SkySlope and add on Books, the new accounting solution that makes payouts simple with the industry's most advanced commission formulas.

Settlement Answers

How will offers of compensation be communicated if brokers can't use MLSs for that purpose? Doesn't this just make broker compensation less transparent?

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 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, Code of Ethics). 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 settlement agreement at facts.realtor.

Best Practices in Sales & Marketing

Sales profession can be rewarding with right tools Michelle Richardson, vice president of sales performance research at the Brooks Group, writes that the sales profession offers benefits, such as flexibility and variety, as well as disadvantages, such as pressure and rejection. Developing sales strategies and methodologies, however, can help transform sales into "a genuinely rewarding and enriching profession," Richardson notes. Full Story: The Brooks Group (4/23)

How to create a healthy sales pipeline A healthy sales pipeline is the best way to ensure a lasting career in sales, writes consultant Collen Francis, who recommends that salespeople should always make the time for sales pipelines, know their networks and use CRM software. Francis also offers tips such as always asking for referrals, performing continual research and expanding sales reach to three platforms. Full Story: Engage Selling (4/23)

TikTok ban could create major opportunity

(Antonin Utz/Getty Images)

People watched the average TikTok video roughly 23,000 times more than the average Instagram Reels clip and more than double a similar video on YouTube Shorts in an eMarketer study during late 2023. Both platforms could reap significant benefits if a TikTok ban goes into effect, with Instagram capitalizing on its reach and YouTube offering the retention and engagement capabilities of smaller influencers. Full Story: eMarketer (4/24)

Real Estate Trends

Mortgage rates rise further above 7%, buyers readjust NAR economist says buyers shouldn't expect rates to fall for some time. Full Story: REALTOR® Magazine (4/25)

Technology & Innovations

Cape Town mansion takes security to new level This unique six-level home perched above Cape Town, South Africa, features an off-the-grid design complete with water tanks, solar panels and lithium batteries and boasts amenities like a licensed shooting range, an aviary and garage space for eight cars. According to listing agent Duvan Botha of Re/Max of Southern Africa, the residence offers unparalleled city views, top-tier imported finishes including Italian travertine tile, and extensive luxury facilities including a full bunker, security room, cinema and fitness area. Full Story: Mansion Global (4/25)

Business Wellness

#FeelGoodFriday: Millions of meals for children, one simple principle REALTORS® Jeremy Lichtenstein and Bob Bell, who live thousands of miles apart, provide essential weekend food to schoolchildren. Full Story: REALTOR® Magazine (4/26)

Fair & Equitable Housing

New York state budget includes housing deal The New York state budget includes a housing package with a new tax break to replace the expired 421a tax exemption. The 485x program calls for a minimum wage based on the number of units being built and changes affordability requirements for housing. The housing package also tweaks rent regulation laws and defines "good cause" evictions. Full Story: City & State New York (4/22), The Real Deal (4/20)

Legislation & Regulation

Inflation continues to underscore Fed's case for caution The core personal consumption expenditures price index climbed at a 3.7% annual rate in the first quarter, providing the latest reason for caution for investors who had hoped that the Federal Reserve would soon pivot to interest-rate cuts. "Now that we're seeing—after six, seven months of very strong improvement and close-to-2% inflation—something that's well above that, we have to recalibrate, and we have to wait and see," Chicago Fed President Austan Goolsbee said last week. Full Story: Financial Times (4/25), The Wall Street Journal (4/25), CNBC (4/25)

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About The National Association of REALTORS®

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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