Brokers: Refocus on training to keep your agents sharp | Answering questions about your compensation | Why you need more than one stakeholder for sales
Created for newsletter@newslettercollector.com |  Web Version
August 23, 2024
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Your brokerage needs to attract real estate pros who know how to do their jobs well. Offer training and resources to keep them engaged and at the forefront of the market.
Full Story: REALTOR® Magazine (8/22) 
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Know your market to win your market.
Real estate is a competitive industry. With the new BrokerMetrics by Lone Wolf, you can identify your brokerage's differentiating factors, spot new recruits to bring on board, track the competition, and more–because when you know what makes you stand out, you can make sure clients know it, too.
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Best Practices in Sales & Marketing
The process of establishing a written agreement with a consumer is a prime opportunity to explain what you do and the value you bring to the transaction. Keep in mind that selling the value of an intangible service, such as what you offer to buyers and sellers, may take extra thought and explanation.
Full Story: REALTOR® Magazine (8/13) 
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Salespeople should cultivate a minimum of four stakeholders in an organization for a prospective sale to gain different viewpoints, writes Colleen Francis. "The biggest single mistake that I see salespeople make is that they go in with a single view or a single threaded approach, and when they only have one contact, they've created gatekeepers," Francis writes.
Full Story: Engage Selling (8/21) 
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Newsletter platforms such as Beehiiv and Substack are wooing TikTok and Instagram creators with accelerator programs, selling the benefits of their own subscriber data and sponsorship opportunities with advertisers such as Hims, Netflix, Hubspot and Penguin Random House. Industry experts discuss why newsletters appeal to short-form video creators for owned, engaged audiences, long-term relationships with brands and as a way to combat TikTok's "underconsumption core" trend and uncertain future.
Full Story: Ad Age (tiered subscription model) (8/22) 
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Real Estate Trends
Some would-be home buyers are waiting for borrowing costs to drop even lower. Is that a wise strategy?
Full Story: REALTOR® Magazine (8/23) 
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Technology & Innovations
This article from MakeUseOf discusses essential devices for creating a smart home, covering a range of categories including smart speakers, lighting, thermostats, and security systems. It emphasizes how these devices can enhance convenience, energy efficiency, and security in the home by allowing users to control and automate various functions through apps or voice commands.
Full Story: MakeUseOf (8/21) 
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Business Wellness
Connecticut real estate pro Carla Presz used arts and crafts to help her ill daughter feel purpose at the end of her life. Now Presz is supplying hospitals with art kits.
Full Story: REALTOR® Magazine (11/10) 
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A five-step model can aid business growth, and executive coach Dominik Szot of the firm MIA discusses questions to ask at every phase of expansion. At a certain stage, entrepreneurs should "effectively delegate responsibility to others, which requires monitoring their performance and accepting a certain level of mistakes," Szot notes.
Full Story: Forbes (tiered subscription model) (8/21) 
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Fair & Equitable Housing
North Carolina is offering financial assistance to first-time buyers in flood-prone areas, part of the state's goal of improving low-income and minority housing. Advocates are focusing on federal and state funding to make homes more resilient to extreme weather events, particularly for vulnerable communities that are disproportionately affected by such disasters.
Full Story: Port City Daily (Wilmington, N.C.) (8/22) 
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Legislation & Regulation
Federal Reserve officials held interest rates steady at their most recent meeting, but minutes suggest that a rate cut could be coming in September. A majority of officials indicated that "if the data continued to come in about as expected, it would likely be appropriate to ease policy," according to the minutes.
Full Story: The Associated Press (8/21),  The New York Times (8/21),  CNBC (8/22) 
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Newly released data from the Bureau of Labor Statistics indicates that US job growth was significantly weaker than previously believed, with a downward revision of 818,000 jobs in March 2024. This marks the largest adjustment since 2009 and lowers the average monthly job gains from April 2023 to March 2024 to 173,500, down from 242,000.
Full Story: CNN (8/21) 
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About The National Association of REALTORS®
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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