6 common furniture mistakes to avoid | Why is NAR paying so much more to settle than the corporate defendants did? | 5 reasons you may have lost that pitch
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This settlement was heavily negotiated and is based on NAR's ability to pay. NAR has secured a release of liability for over 1 million members, all state/territorial and local REALTOR® associations, all REALTOR® MLSs and all brokerages with an NAR member as principal that had a residential transaction volume in 2022 of $2 billion or below. There are strong grounds for the court to approve this settlement because it is in the best interests of all parties and class members. Get more facts about NAR's proposed settlement agreement at facts.realtor.
Clients often withhold the actual reasons agencies lose business pitches, according to Rachel Huff, president of Victoire & Co. Key reasons include being overly sales-focused without creating a partnership with clients, relying too much on past achievements, being perceived as too large, minor communication, yet impactful errors and clients preferring another agency's pitch. Full Story: PR Daily (7/10)
6 elements of effective brand messaging Brand messaging should be informed by external, not internal input, such as customer insights, trends, competitive analysis and buyer journey research, advises Natalie Nathanson, founder and president of Magnetude Consulting. Use emotional storytelling to ensure your unique value proposition breaks through and mirror customer language to "create a sense of familiarity and trust while demonstrating that you understand your audience's needs," Nathanson writes. Full Story: Forbes (tiered subscription model) (7/12)
Real Estate Trends
Wicker's rising popularity brings back '90s vibe Wicker is making a comeback, reviving the classic '90s aesthetic that many associate with the material. Interior designers suggest blending wicker's breezy, boho ambiance with modern decor for a fresh and stylish look. Full Story: Better Homes and Gardens (7/14)
Technology & Innovations
Site creates immersive real estate tour experience WalkInto offers immersive virtual tours of diverse locations from home, utilizing advanced technology to create a lifelike experience. Featuring high-definition visuals and realistic sound effects, users can explore real estate properties, hotels, restaurants, famous landmarks and museums. Full Story: EnergyPortal (UK) (7/14)
Leaders can prime themselves to learn something every day by surrounding themselves with people who have different opinions and will tell them the truth, writes David Novak, the co-founder, retired Chairman and CEO of Yum! Brands, Inc., who also advises sharing your knowledge through teaching or mentoring. "Hoarding what you know is a great way to shut off the flow of learning in your life, so try to do the opposite every day," Novak notes. Full Story: Chief Executive (7/11)
Fair & Equitable Housing
FHFA calls for more tenant protections for landlords with federally backed mortgages Apartment owners with mortgages backed by Fannie Mae or Freddie Mac will have to adhere to a number of new tenant protections starting next February under a policy from the Federal Housing Finance Agency. The policy, which applies to newly originated or refinanced mortgages, will require 30 days notice before rent is raised or a lease is terminated. Full Story: Bloomberg (7/12)
Legislation & Regulation
Goolsbee indicates rate cut could be coming Last week's inflation reading has boosted confidence that prices are easing in a way that should lead to rate cuts, Federal Reserve Bank of Chicago President Austan Goolsbee has said. "We set this rate when inflation was over 4%, and inflation is now, let's call it, 2.5%. That implies we have tightened a lot since we've been holding at this rate," Goolsbee said. "You only want to stay this restrictive for as long as you have to, and this doesn't look like an overheating economy to me." Full Story: The Wall Street Journal (7/15)
Credit market concern arises over economic slowdown Recent inflation data has brought relief to credit markets, with price pressure cooling. However, concern has grown about an economic slowdown that could affect corporate debt. "We don't want to see the economy slow too much further from here," Morgan Stanley strategist Vishwas Patkar says. "If growth is too weak, you start to worry about fundamentals, defaults and downgrades." Full Story: Bloomberg (7/13)
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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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