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Best Practices in Sales & Marketing
New York listing shows resilience at market's upper end Compass agent Arran Patel is listing the New York townhouse owned by Ascot Properties NYC founder Lucky Bhalla and his wife, Laura. The $40 million asking price underscores the lack of high-end inventory in the Tribeca neighborhood, Patel says. Full Story: The Real Deal (9/30)
Guiding clients through market anxiety The inflationary environment, rising interest rates and market volatility are causing anxiety for clients, but financial professionals can help them stay calm by being empathetic and adding value where possible, writes James Rockwood of CapIntel. "If you, your firm or a publication you follow has interesting and educational articles, proactively share them with your clients on a regular basis," Rockwood advises. Full Story: Advisor Perspectives (10/2)
These trends are gaining traction among marketers Trending strategies and technologies marketers are leaning into are geared toward forging deeper consumer connections, report speakers at a recent HubSpot conference. Marketers predict a rise in conversational marketing, social media optimization, building emotional connections through empathy, creating experiences that combine physical and digital elements, and Web3 trials through nonfungible tokens. Full Story: TechTarget (9/30)
Real Estate Trends
Kitchen islands: The life of the party Buyers might not consider it a deal killer if a kitchen has no island, but the house may not get the same attention. "It's the number one design feature our clients ask for in a kitchen," says architect John Potter. Full Story: REALTOR® Magazine (9/21)
Homeowners turn to renovations amid rising mortgage rates Many homeowners are opting for renovations instead of buying a new home, according to a survey of 1,000 homeowners by House Method. Although most projects go over budget, 93% of owners say they are worth the discomfort, time and money. Full Story: Fox Business (9/30)
NAR President Leslie Rouda Smith details an initiative to put REALTORS® at the forefront of carbon reduction efforts. Watch her presidential update.
Fair & Equitable Housing
Rise of remote work has left an affordability challenge The surge in home prices during the coronavirus pandemic brought with it skyrocketing rents across the country, with the trend attributed largely to the rise of telecommuting. "The bad news is that America's housing affordability crisis has gotten even worse," Paul Krugman writes. Full Story: The New York Times (9/30)
Legislation & Regulation
Inflation could ease somewhat, Fed's Barkin says Economists' forecasts for the economy suggest that inflation will decline to some extent, said Thomas Barkin, president of the Federal Reserve Bank of Richmond. Still, Barkin noted that "at this point, the risk of inflation festering still feels to me like a bigger risk than the risk of inflation coming down on its own and us having oversteered." Full Story: MarketWatch (tiered subscription model) (10/2)
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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