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MLSs have always provided significant value beyond communicating offers of compensation. MLSs: Enable comprehensive marketplaces: Access to inventory and widespread advertising incentivizes local broker participation. Ensure reliable data access: NAR guidelines for local MLS broker marketplaces enable hubs of trusted, verified information where all participants have equitable access. Create connections: Local MLS broker marketplaces create the largest opportunity for connections between real estate agents with properties to sell and those with clients looking to buy. Advance small business: Compiling housing information that is accessible to all businesses in one place allows smaller real estate brokerages to compete with larger ones. Encourage entrepreneurship: Because of lower barriers to entry enabled by local MLS broker marketplaces, new market entrants can advance technology, consumer service and other innovations. Get more facts about NAR's settlement agreement at facts.realtor.
Best Practices in Sales & Marketing
Increase media exposure with respected publications Staying on top of news trends can help marketers gain top-tier exposure in outlets like Forbes and The Wall Street Journal by becoming thought leaders on trending topics, according to Greg Linnelli, account strategist at Otter PR. He also suggests creating targeted pitches for each news outlet and asking where value can be added to reporting if a pitch is initially declined. Full Story: SmartBrief/Marketing (4/19)
How to target consumers in a cookieless world Commerce media, clean rooms and contextual targeting have emerged as valuable alternatives to third-party cookies, and the growth of AI offers a major boost to contextual ads, writes Chitra Iyer. Ad Results Media Vice President Gretchen Smith explains the need to go beyond keywords by pointing out the many potential meanings of a word like "shot." Full Story: CMSWire (4/18)
Realtor.com CEO explains the benefits of buyers' agents In a Wall Street Journal op-ed, Realtor.com CEO Damian Eales discussed the implications of the upcoming NAR settlement and rule changes, highlighting that while consumers might enjoy lower agent commissions and increased negotiating power when represented by an agent, those without representation could face disadvantages. "Without a buyer's agent, no one would be legally required to help buyers understand their risks and options," Eales writes, adding that "there would also be nothing to stop seller's agents from increasing their commissions to match what previously went to buyer's agents." Full Story: Real Estate News (4/19)
Luxury home sellers face price cuts The market for luxury homes has cooled, as 7.8% of homes listed for more than $5 million had experienced asking price reductions as of March, according to Realtor.com. That was the most significant level of price cuts since tracking began in 2007, and reductions were particularly common in Austin, Texas. Full Story: The Wall Street Journal (4/18)
Fair & Equitable Housing
Market dynamics push younger Americans toward renting The housing market has seen a dramatic shift, significantly affecting millennials and Generation Z, with the cost of both renting and buying a home rising sharply over the past three years. As the average 30-year mortgage rate increased, this led to a record-breaking disparity between the cost of renting versus buying a home, a gap that is significantly larger than during the last housing bubble. Full Story: Barchart (4/21)
Legislation & Regulation
Banks build up reserves for potential CRE loan losses Large banks have already set aside reserves to manage losses they might encounter because of their exposure to commercial real estate debt, with median reserves for office loans hitting 8%, according to Autonomous Research. "We do feel that we've been ahead of this game, that we're reserved correctly," said PNC Financial Services Group CEO William Demchak. Full Story: The Wall Street Journal (4/19)
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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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