Mortgage rates fall below 7%

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What if your clients could 'shop' your listings? | MLS participants may not receive compensation for services from any source that exceeds the amount or rate agreed to in the buyer agreement. Does this mean that brokerages can only have one agreement with the buyer? | Sales managers need 5 key skills for success

Created for newsletter@newslettercollector.com | Web Version

May 24, 2024

Top News

What if your clients could 'shop' your listings? Chirpyest, a tool available to NAR members, enables agents to create digital storefronts featuring items in their listings—and earn extra cash on the sales. Full Story: REALTOR® Magazine (5/22)

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Settlement Answers

MLS participants may not receive compensation for services from any source that exceeds the amount or rate agreed to in the buyer agreement. Does this mean that brokerages can only have one agreement with the buyer?

No. NAR policy does not dictate:
What type of relationship the professional has with the potential buyer (e.g., agency, non-agency, subagency, transactional, customer). The term of the agreement (e.g., one day, one month, one house, one zip code). The services to be provided (e.g., ministerial acts, a certain number of showings, negotiations, presenting offers). The compensation charged (e.g., $0, X flat fee, X percent, X hourly rate). Compensation continues to be negotiable and should always be negotiated between MLS Participants and the buyers with whom they work. Get more facts about NAR's proposed settlement agreement at facts.realtor.

Best Practices in Sales & Marketing

Sales managers need 5 key skills for success Sales managers can succeed by focusing on transparency, accountability and giving feedback, writes Kevin Kruse, CEO of LEADx. Kruse also recommends that managers remember to advocate for their sales teams and coach teams to increase commitment and alignment with goals. Full Story: Forbes (tiered subscription model) (5/23)

Are your personal socials in line with your business's brand? Part of building your small business' brand is creating a personal brand on social media to humanize and increase accessibility to your business. For CEOs and other leaders, having a public online persona not only offers SEO benefits but also creates relatability, bringing more people into the fold of the business's brand. Full Story: Entrepreneur (5/23)

Real Estate Trends

Mortgage rates fall below 7% "Spring home buyers received an unexpected windfall this week," says Freddie Mac's chief economist. Full Story: REALTOR® Magazine (5/24)

Technology & Innovations

Amazon Alexa could morph into a generative AI bot

Alexa could be about to get smarter (Amazon)

Rumors have been circulating for a while suggesting that Amazon is planning to upgrade its Alexa voice assistant with AI capabilities, and a new report gives us some idea of what Amazon is looking to achieve, and how much an AI Alexa subscription might cost. Full Story: TechRadar (5/23)

Business Wellness

#FeelGoodFriday: Joy delivered to over 150,000 soldiers in a single box REALTOR® Wendy Rocca has continued for two decades to send care packages with necessities to military personnel overseas. Full Story: REALTOR® Magazine (5/23)

Fair & Equitable Housing

Boston supports affordable housing for artists Boston is investing $1.7 million to preserve affordable artist workspaces at Humphreys Street Studios in Dorchester and to create new below-market, income-restricted housing on the site. This initiative's goal is to ensure that the studios remain majority artist-owned and -operated. Full Story: WBTS-TV (Boston) (5/24)

Legislation & Regulation

Inflation still a problem for Americans, Yellen says Prices for housing and everyday goods are still challengingly high for many in the U.S. despite falls in inflation and strong wage growth. "Although wages have gone up significantly, and, at least on average, more than prices have gone up, there are substantial increases in prices that are important to people," such as food, rent and mortgages, Treasury Secretary Janet Yellen says. Full Story: Financial Times (5/24)

Editor's Note

SmartBrief will be closed Monday, May 27 In observance of Memorial Day in the US, SmartBrief will not publish Monday, May 27.

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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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