Court grants preliminary approval of NAR settlement | Why was prohibiting the publication of compensation offers in the MLS part of NAR's settlement agreement? | How to find nobility in the sales profession
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While NAR has long maintained—and continues to believe—that cooperative compensation and NAR's current policies are good things that benefit buyers and sellers, the association also acknowledges that continuing to litigate would have hurt members and their small businesses. So, NAR agreed to put in place a new rule prohibiting offers of compensation on the MLS. This is consistent with NAR's long-maintained position that prohibiting all offers of cooperative compensation entirely would harm consumers and be inconsistent with real estate laws in the many states that authorize them. NAR believes this agreement provides a path forward for the real estate industry and the association. Get more facts about NAR's settlement agreement at facts.realtor.
Best Practices in Sales & Marketing
How to find nobility in the sales profession Jim Berryhill, founder of Decisionlink, says sales is a noble profession that allows sales people to help customers and colleagues. "In addition to helping customers achieve their goals and objectives, I've seen the sales profession lift people out of poverty, facilitate massive charitable giving, change people's ability to provide for their families and more," Berryhill says. Full Story: Partners in Excellence Blog (4/22)
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Real Estate Trends
A new road for NAR Don't talk about business as usual to this group: NAR's culture transformation commissioners and new leadership are helping to usher in big changes for the nation's largest real estate organization. Full Story: REALTOR® Magazine (4/24)
Estate with vineyard asking $11.9 million Jim Martin of California Outdoor Properties is the listing agent for Pritchett Peaks Vineyard, a 120-acre estate in Sonoma County on the market for $11.9 million. The property features 45 acres of professionally planted vines, and Martin says it is the most significant vineyard ever listed in the area. Full Story: New York Post (4/22)
Report: Luxury home sales rise with all-cash offers Luxury home sales rose more than 2% as some high-end buyers circumvented high mortgage rates with cash offers, according to first-quarter data from Redfin. Cash was paid in nearly half of luxury home sales, the highest rate in at least a decade, with the median price at a record $1.225 million. Full Story: CNBC (4/23)
Business Wellness
Olympic gold medalist bases leadership on the Stoics Mark Tuitert, a speed skater who won a gold medal at the 2010 Vancouver Winter Olympics, follows the wisdom of the Stoics to focus on making the right choices, looking out for the interest of your team and building character, traits he outlines in his book, "The Stoic Mindset: Living the Ten Principles of Stoicism." "In all areas, from sports to politics to business, individuals and teams demonstrate that success doesn't have to come at the expense of others. The quest for character is the quest for a good life," Tuitert writes. Full Story: Fast Company (tiered subscription model) (4/21)
Fair & Equitable Housing
10 California cities designated as 'pro-housing' California has designated 10 cities as "pro-housing" due to support for equitable housing policies. This designation recognizes local leadership in accelerating housing production, providing financial housing subsidies, streamlining permitting processes and supporting land use policies that reduce construction costs. Full Story: The Daily Californian (University of California, Berkeley) (4/23)
Legislation & Regulation
Fed officials have embraced a higher-for-longer outlook The "easing bias" for interest rates "seems to be evaporating pretty quickly," according to Pimco's Jerome Schneider, with several Federal Reserve officials recently expressing a more hawkish outlook. Fed members have backed away from the suggestion that recent inflation numbers represented only a temporary bump in the road, says Blake Gwinn of RBC Capital Markets. Full Story: Yahoo (4/22)
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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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