A playbook for agents working with first-time buyers | Does Standard of Practice 16-16 prohibit the negotiation of buyer broker compensation in a buyer's purchase offer? | NAR Fair Housing Champion Paul Yorkis: Lobbying for language accessibility
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April 29, 2024
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Buying a single-family home for the first time is challenging, but even more so in a time of inventory shortages and affordability issues. Help ease anxiety by sharing these useful steps.
Full Story: REALTOR® Magazine (4/29) 
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Now is the time to free your brokerage from complicated, manual commission calculations. Get SkySlope and add on Books, the new accounting solution that makes payouts simple with the industry's most advanced commission formulas.
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Settlement Answers
Does Standard of Practice 16-16 prohibit the negotiation of buyer broker compensation in a buyer's purchase offer?
No. A buyer can always ask their buyer broker to make it a term of the purchase offer that the seller pay certain compensation to the buyer broker.

Standard of Practice 16-16 prohibits a REALTOR® from attempting to modify the terms of a listing agreement through the terms of an offer because the listing agreement is a contractual matter between the seller and the listing broker. However, the seller and the listing broker may independently choose to amend the listing agreement or take any other action they deem appropriate based on the seller's negotiations with the buyer. Standard of Practice 16-16 also prohibits a REALTOR® from delaying or withholding delivery of a buyer's offer while attempting to negotiate a buyer broker compensation. Get more facts about NAR's settlement agreement at facts.realtor.
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Best Practices in Sales & Marketing
Massachusetts real estate forms are now available in multiple languages, thanks to Yorkis.
Full Story: REALTOR® Magazine (4/8) 
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While genuine social media influencers can provide significant value for brands, some promise what they can't deliver and others knowingly perpetrate fraud. Timothy Kelly advises companies to stay alert for red flags like low follower counts or sudden spikes, vague or repetitive comments and discrepancies among demographics and platforms.
Full Story: Forex (4/25) 
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Denver business leaders shared key career advice with the Junior Achievement Free Enterprise Center in Greenwood Village, Colo., a platform for high school students to explore careers and develop entrepreneurial skills. Experts offered advice like recognizing challenges as opportunities and surrounding yourself with the right people, while Darian Simon, co-founder of a clothing company, told students to "embrace what makes you different."
Full Story: CNBC (4/24) 
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Real Estate Trends
These designer outdoor spaces draw inspiration from luxury interiors.
Full Story: REALTOR® Magazine/Styled, Staged & Sold (4/15) 
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Kate Rohrer's success in hotel and restaurant design has proven to be the best marketing for her residential interior design practice, Rohe Creative, with a client list that includes chef Michael Schulson and director M. Night Shyamalan. "We always encourage people to take bite-size pieces," Rohrer says. "You don't have to paint your entire living room red. You can add a small red pillow, vase or accent blanket."
Full Story: Mansion Global (4/29) 
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Barbara Corcoran of William Raveis Real Estate is the listing agent for this $2.25 million home in Sandwich, Mass. Amenities include a heated pool with a waterfall and hot tub, an expansive patio with a Tiki bar and a putting green.
Full Story: Cape Cod Times (Mass.) (tiered subscription model) (4/29) 
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Business Wellness
Use emotional intelligence to connect deeply with teams
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Empathy and active listening can help leaders get a feel for the emotional undercurrents among their staff and be better prepared to address emotions as they arise, writes psychologist Kathy Miller Perkins, who recommends leaders engage in self-reflection and seek a diversity of views to understand their teams better. "Regular check-ins and designated 'safe to speak' meetings can reinforce a culture where team members feel valued and heard," Miller Perkins notes.
Full Story: Forbes (tiered subscription model) (4/25) 
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Fair & Equitable Housing
Expert Leah Rothstein explains how laws and policies at all levels of government have contributed to affordability challenges five decades after the Fair Housing Act was enacted. She cites the persistent homeownership gap between whites and nonwhites.
Full Story: WFMZ-TV (Allentown, Pa.) (4/25) 
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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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