What's ahead for your business | What is the mechanism for brokerages with residential transaction volume in 2022 that exceeded $2 billion to obtain releases of liability in seller litigation? | Is a brand ambassador a safer bet than an influencer?
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What's ahead for your business Get the real story on NAR's pending settlement to resolve seller litigation in a 16-page digital supplement to REALTOR® Magazine. In this special edition, you'll also find guidance for talking to buyers and sellers about your services and value to the transaction.
NAR secured in the agreement a mechanism for nearly all brokerage entities that had a residential transaction volume in 2022 that exceeded $2 billion to obtain releases efficiently if they choose to use it. However, the remaining defendants in the actions covered by the agreement cannot use the opt-in mechanism. Broadly speaking, the opt-in provides two paths: A brokerage can elect to pay an amount based on a pre-determined formula based on that brokerage's residential transaction volume. A brokerage can elect to participate in non-binding mediation within 110 days following preliminary approval of the settlement. Brokerages can also choose not to participate in this settlement. All agreements reached through this mechanism would be subject to court approval. Get more facts about the settlement at facts.realtor.
Best Practices in Sales & Marketing
Is a brand ambassador a safer bet than an influencer? Using a brand ambassador instead of an influencer has its advantages, especially in terms of brand safety as the relationship tends to be longer and more controlled. A concern with using an influencer is that the influencer could be pitching a competitor's product at a later date and that social media is losing its marketing power as it gets flooded. Full Story: Digiday (tiered subscription model) (4/8)
Real Estate CE Done Simply WebCE delivers engaging online real estate continuing education with next-day reporting, so you never miss a deadline. With our easy-to-use platform, you can learn something new, fulfill requirements and stay current on industry trends with courses written by experts. Order Your CE Now!
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.
Invitation Homes buying 500 homes across 3 states Invitation Homes is in a deal to acquire about 500 newly built homes in Charlotte, N.C.; Nashville, Tenn.; and Jacksonville, Fla., with the total investment reaching $140 million. The REIT is acquiring the homes from three homebuilders, and deliveries are expected to start later in 2024. Full Story: Dallas Innovates (4/9)
Homeowners are struggling to meet associated costs Average mortgage rates have eased slightly in 2024, but homeowners' insurance, property taxes, maintenance expenses and other costs continue to rise. A recent Clever Real Estate survey of homeowners found 42% saying they had postponed maintenance or repairs due to the cost, and about 1 in 5 said they would need to go into credit card debt to fund a $500 emergency repair. Full Story: The Wall Street Journal (4/10)
Business Wellness
9 qualities of profitable businesses CPA and author Melissa Houston looks at nine qualities that make small businesses profitable, such as focusing on creating value for customers over just profits, investing in employees and developing systems and processes that scale. Houston writes "that profitable businesses are differentiated by their ability to strategically position themselves in the marketplace, execute with precision, and maintain a mindset geared towards continuous improvement and customer satisfaction." Full Story: Forbes (tiered subscription model) (4/9)
Fair & Equitable Housing
Firefighters turn RV into mobile unit for homeless people An RV donated by a fire department chief has been turned into a mobile hygiene unit by two dozen firefighters for Cleveland, Ohio's Homeless Hookup. The nonprofit offers free food, hot showers, haircuts, clothes and toiletries from the mobile hygiene unit, which also serves as a 2-1-1 triage for homelessness emergencies. Full Story: EMS1 (4/8)
Legislation & Regulation
CPI report unlikely to resolve Fed rate-cut timing The March consumer price index is expected to show moderation in inflation but might not decisively influence Federal Reserve decision-making on interest-rate cuts. Economists predict a slight decrease in core CPI growth, potentially signaling continued but insufficient disinflation for Fed officials seeking a more significant decline. Rental inflation and prices in sectors such as used cars and airfare are critical to watch, with trends likely to affect overall inflation perceptions and monetary policy considerations. Full Story: Bloomberg (4/10)
Consumer prices rose faster than expected in March The consumer price index was up 0.4% in March from the prior month and gained 3.5% on an annual basis, with both numbers exceeding the estimate of economists surveyed by Dow Jones. The latest numbers underscore that inflationary pressure remains, giving the Federal Reserve more to think about as it considers when to pursue interest-rate cuts. Meanwhile, The Senior Citizens League is now predicting that the Social Security cost-of-living adjustment for next year will be between 2.6% and 3%. Full Story: CNBC (4/11),The Wall Street Journal (4/10),ThinkAdvisor (free registration) (4/10)
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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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