Real estate makes list of America's most envied jobs

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Behind recent legal wins, REALTOR® advocacy was at work | New information about written agreements | 9 strategies to grow your loyal customer base

Created for newsletter@newslettercollector.com | Web Version

May 1, 2024

Top News

Behind recent legal wins, REALTOR® advocacy was at work NAR's Legal Action Program has quietly supported major litigation that is critical to real estate—including two recent victories at the Supreme Court. Full Story: REALTOR® Magazine (5/1)

	[Webinar] Essential New Tools & Scripts for Listing Agents Our sellers have more questions than ever. Make sure you're prepared by joining The Paperless Agent for this free webinar where we'll share the templates & scripts you need for more signed listing agreements this Spring & Summer. Register Now! >>

Settlement Answers

New information about written agreements

NAR has updated its FAQs about the proposed settlement agreement to include additional information and clarity about written buyer agreements. As part of the settlement, NAR has agreed to require MLS participants working with buyers to enter into written agreements with their buyers before touring a home.
What exactly does it mean to be "working with" a buyer or to "tour a home," and do state laws affect this practice change? Find answers in questions 46 through 62 in NAR's regularly updated FAQs page at facts.realtor. Each new FAQ will appear in this newsletter over the coming days. Additional guidance about the timing of the practice changes required under the settlement is forthcoming, NAR says.
Read about the preliminary approval of the settlement, which NAR received April 24. The settlement agreement is still subject to final court approval. The final approval hearing is scheduled for Nov. 26.

Best Practices in Sales & Marketing

9 strategies to grow your loyal customer base Small businesses often can do more to increase sales by connecting with current customers than by working to find new ones, writes Syed Balkhi, founder of WPBeginner. It's helpful to search for upselling opportunities, keep in contact via emails or phone calls, be open to feedback and leverage the fear of missing out to create urgency. Full Story: StartupNation (4/28)

Real Estate Trends

Real estate makes list of America's most envied jobs Americans say they long for a career as a luxury real estate agent even more than as a social media influencer, according to a new survey. Full Story: REALTOR® Magazine (4/30)

Index: Home prices gained 6.4% in Feb. from prior year Home prices were up 6.4% from the prior year in February, marking the fastest annual gain since November 2022, according to the S&P CoreLogic Case-Shiller national home price index. "For the third consecutive month, all cities reported increases in annual prices, with four currently at all-time highs: San Diego, Los Angeles, Washington, D.C., and New York," said Brian Luke of S&P Dow Jones Indices. Separately, the Federal Housing Finance Agency reported that prices were up 1.2% in February compared with the prior month. Full Story: CNBC (4/30), MarketWatch (tiered subscription model) (4/30), Reuters (4/30)

Technology & Innovations

Ransomware: Protecting your business from increasing cyberthreats No business is fully immune to these types of attacks and their consequences. The prevalence of ransomware is driven by low prosecution rates and the willingness of many victims under extreme duress to pay ransoms. NAR's Emerging Technology blog tells you what you need to consider.

Fair & Equitable Housing

San Diego project brings emergency housing option downtown The Salvation Army and Wakeland Housing and Development Corp. are progressing with the development of a $119 million complex in downtown San Diego to offer housing solutions for homeless individuals and families. "What we're building is a combination of everything from short-term housing through permanent affordable housing," said Col. Lee Lescano of the Salvation Army. Full Story: San Diego Business Journal (4/29)

Legislation & Regulation

CFPB criticizes complex mortgage, auto loan price fees The Consumer Financial Protection Bureau has continued its campaign against what it calls "junk fees" with a new report that focuses on how mortgage and auto loan prices are structured, arguing that they are frequently overly complex, which can lead to consumers paying more than they have to. The report claims customers tend to pay more when prices are broken down into sub-parts than when they are presented with a single, bottom-line price. Full Story: PYMNTS (4/30)

Consumer confidence declines for 3rd straight month The Conference Board's consumer confidence index, which reflects Americans' outlook on the next six months, fell to a reading of 97 in April from 103.1 in March. An index gauging short-term expectations on income and the job market fell to 66.4, from 74 the previous month. Full Story: The Associated Press (4/30)

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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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