Vote your favorite finalist into the '30 Under 30' | What were the key factors that influenced NAR's decision to choose the legal path it did to settle seller litigation? | How marketers are celebrating Monday's solar eclipse
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Vote your favorite finalist into the '30 Under 30' Vote for your favorite rising stars in real estate and help one of them clinch the Web Choice Award, which will secure their place in REALTOR® Magazine's 30 Under 30 Class of 2024. You and your clients are eligible to cast one vote per finalist every day, so be sure to spread the word to your sphere.
NAR explored settling throughout the litigation and carefully considered the other legal options available. These included: Appealing: A win on appeal would only have addressed the verdict in the Sitzer-Burnett case (not any of the copycat cases) and may only have resulted in a new jury trial, leaving members and consumers with continued uncertainty. Chapter 11 reorganization: In theory, Chapter 11 would have enabled NAR to eliminate its own liabilities while pursuing an appeal of the Sitzer-Burnett verdict. But the association believes that would have left members with continued uncertainty and potential liability risk. Chapter 11 would also have paused the litigation against NAR but not the other defendants in the cooperative compensation cases. Ultimately, while NAR continues to believe that it is not liable for the home seller claims related to broker commissions and that we have strong arguments challenging the Sitzer-Burnett verdict, the association decided to reach this settlement to put claims to rest for over 1 million NAR members and other parties who would be released under the agreement. Get more facts about the settlement at facts.realtor.
The advertising world is coming out in force to celebrate Monday's solar eclipse, including SunChips activation from Tombras that features astronaut Kellie Gerardi touting a limited-edition flavor that's being given away exclusively during the four minutes and 27 seconds of maximum totality. Agency Marcus Thomas created a humorous "Greetings From Sunny Cleveland" video that imagines the city's top sights and attractions shadowed by the eclipse. Full Story: Muse by Clio (4/4),Ad Age (tiered subscription model) (4/5)
Colleagues' confusion about your intentions due to different interpretations of a word like "strategic," for example, put a dent in performance. Ensure that others understand your views and vision by being specific on terms and definitions, as well as looking for alignments and conflict, writes Robyn McLeod of Chatsworth Consulting Group. Full Story: Chatsworth Consulting Group (4/4)
Real Estate Trends
Publisher's notable New York City apartment on market This unit in a New York Beaux Arts building, was formerly owned by publishing magnate Stephen Rubin in a building designed for artists and attracting notable residents like author Elizabeth Hardwick and poet Robert Lowell. The three-bedroom property is listed by Jay K. Overbye, William Gilbert, and Mike Lubin of Brown Harris Stevens. Full Story: Curbed (4/8)
Regional bank execs discuss challenges for CRE Loan-loss reserves at regional banks are adequate to cover expected losses from the commercial real estate sector, executives said at a recent event, adding that the office segment, which is facing challenges due to remote work, represents a small part of the banks' CRE portfolios. "This return-to-office phenomenon has kind of been the extra burden that ... the general office segment has to work through, because many companies are rethinking what their true real estate needs are going forward," Citizens Financial Group CEO Bruce Van Saun said. Full Story: CFO Dive (4/2)
Technology & Innovations
How to incorporate VR into influencer marketing Incorporating virtual reality into influencer marketing campaigns is emerging as a cutting-edge strategy in the digital advertising realm, offering an immersive experience that elevates brand perception. By integrating VR, brands can evolve traditional influencer campaigns into interactive experiences, making product showcases more engaging and leaving a lasting impression on consumers. Full Story: LinkedIn (4/7)
Trust is a vital part of a successful workplace environment, writes Infragistics CEO Dean Guida, who suggests leaders can achieve trust by giving a lot of praise, using people's names in conversations, showing an interest in others and admitting mistakes. "Executives and managers should take full responsibility for their actions and decisions," Guida adds. Full Story: HR Morning (4/4)
Fair & Equitable Housing
Housing crisis hasn't skipped rural America The U.S. faces a critical shortage of affordable housing, not only in urban areas where it exacerbates homelessness, but also in rural regions, where nearly 70 million people reside. The U.S. Department of Agriculture oversees key programs aimed at addressing this issue for low-income families in rural America, where approximately 7.9 million individuals live in counties characterized by "persistent poverty" as defined by Freddie Mac. Full Story: HousingWire (4/8)
Legislation & Regulation
What the consumer price index could mean for the Fed The core consumer price index, due out this week, is expected to show a 3.7% year-over-year gain, according to one projection. The index comes on the heels of Friday's strong employment report, which showed a gain of 303,000 jobs, giving Federal Reserve officials more data to consider as they determine when to begin cutting interest rates. Full Story: Bloomberg (4/7)
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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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