Research indicates consumer recollection of concrete terms that individuals can see in their "mind's eye" can be up to 10 times higher than abstract terms. "Work hard to paint a picture that your customers can imagine," writes behavioral science specialist Richard Shotton, adding to "never use words such as durable, fast, easy or innovative without explaining in concrete terms why these adjectives apply." Full Story: Ad Age (tiered subscription model) (4/28)
Yards covered with shamrocks—a hardy, drought-resistant alternative to grass—have become the most searched home improvement trend online. Full Story: REALTOR® Magazine/Styled, Staged & Sold (5/1)
Build-to-rent is transforming the landscape As home prices escalated, inventory shrank and families sought more living space, communities of rental houses emerged as a growing option. Here's why they appeal—and what you should know. Full Story: REALTOR® Magazine (4/25)
Experts weigh in on office-to-residential conversions Silverstein Properties CEO Marty Burger notes that there is a lack of housing in many major cities and that office-to-residential conversions can make sense as a way to address the issue. Meanwhile, CBRE President and CEO Bob Sulentic points out that there are several commercial real estate sectors exhibiting strong fundamentals and that Class A offices are still in good shape. However, Sulentic says there are practical obstacles for office-to-multifamily conversion that could limit opportunities for this kind of transformation. Full Story: CNBC (4/27),CNBC (4/27)
Homeowners tap equity, wait to trade up, expert says Lenders can look forward to significant opportunities in home equity credit, says Ken Flaherty, senior consumer market analyst at management consultancy Curinos. Flaherty expects "more homeowners to seek home equity credit to be able to make more of what they've got, and ride things out over the next couple of years until rates normalize and/or there's better housing inventory available for them to go out and search for their dream home." Full Story: The Financial Brand (4/27)
Technology & Innovations
Unpacking the promise and risks of ChatGPT Commercial real estate is buzzing about ChatGPT, an AI-powered chatbot that generates humansounding responses to text prompts. Here are a few examples of the tool's promise and risks. Full Story: REALTOR® Magazine (3/22)
6 ways to mitigate risk when workers use their own devices Allowing employees to use their own devices for work can save a business money, but the practice can put companies' cybersecurity at risk, technology editor Zac Amos writes. Amos details six essentials for a bring-your-own-device policy, including updated operating systems and software, multifactor authentication and guidelines on what functions and applications are allowed. Full Story: AllBusiness (4/27)
Business Wellness
What's the right way to honor employee accomplishments? Work anniversaries and noteworthy achievements deserve celebration, and the right gift can strengthen employer-employee relationships and workplace culture, business blogger Chantal Bechervaise writes. Professional development, extra time off and personalized gifts are among Bechervaise's suggestions. Full Story: Take It Personel-ly blog (4/21)
Legislation & Regulation
Fed consensus faces challenges as economy evolves Federal Reserve officials have been in nearly unanimous agreement about the need for rate hikes, but the consensus could be harder to maintain as economists and Fed staff look ahead to a potential recession. Full Story: BNN Bloomberg (Canada) (4/30)
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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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