Moving forward with new real estate practices | REALTORS® have a tool to clean their clients' financial house | Zero in on what motivates members of your sales team
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Moving forward with new real estate practices Now that practice changes are part of a new reality for your real estate business, what does it look like to move forward with confidence as you adjust your operations and conversations with home buyers and sellers? You're likely prepared for the potential challenges, but you also need to focus on where the opportunities lie. Listen to "Drive With NAR."Full Story: REALTOR® Magazine (9/3)
Get ready for a new way to close With a unique workflow made to focus on the client, not the property, Lone Wolf Transact is here to change the way you process deals. From listing to close, Transact brings you compliant forms, customizable templates, and more–to save you time and impress your clients. Learn more today.
Zero in on what motivates members of your sales team To ensure a productive sales team, managers must focus on motivation as much as training, writes Matt Sunshine, who offers five key strategies to motivate sales teams but also cautions that each team member may have different motivations. "Investing time in understanding what motivates each team member can pay dividends in terms of productivity and engagement," Sunshine advises. Full Story: The Center for Sales Strategy (9/3)
JLL: $1.5T in CRE debt due by end of 2025 Commercial real estate is grappling with maturing debt, with about $1.5 trillion due by the end of 2025 and about a quarter of the debt potentially difficult to refinance, JLL says. Apartment buildings account for about 40% of the upcoming maturities, according to JLL. Full Story: Bloomberg (8/31)
Trimont CEO delivers upbeat assessment of CRE outlook Trimont is slated to acquire a $640 billion loan portfolio from Wells Fargo and become the largest commercial real estate loan servicer in the U.S. Positives exist in the current commercial real estate sector, despite widespread negative prognoses, Trimont CEO Bill Sexton says. Nonbank lenders are eager to participate in the sector and are "well equipped" to back more creative strategies, such as repurposing buildings for different uses, Sexton says. Full Story: American Banker (8/30)
Business Wellness
When leaders can show their humor—and when they can't Presidents Abraham Lincoln and John F. Kennedy both used self-deprecating humor, which Laurence Stybel and Maryanne Peabody, the co-founders of Stybel Peabody Associates Inc., say can increase likeability and create an emotional bond. However, they warn that someone not in a high position of power should be cautious with such humor because it can backfire and make them less likable. Full Story: Psychology Today (9/2)
Fair & Equitable Housing
The legacy of 'sundown towns' A number of historic real estate practices in the U.S. have had lasting impacts on Black and Brown communities' ability to participate in the full breadth of wealth-building opportunities that should have been available to them. One lesser-known tactic employed in the Midwest, the North and the South, was the creation of sundown towns. Full Story: REALTOR® Magazine/The Lounge (8/27)
Legislation & Regulation
Experts cast doubt on consumer spending upturn in Q4 Some experts say they see little likelihood of a fourth-quarter increase in U.S. consumer spending, despite the interest-rate cut expected this month. Spence Mehl of RCS Real Estate Advisors notes that consumer spending is a lagging economic indicator, and EY chief economist Gregory Daco forecasts that "[h]ouseholds will spend more prudently as labor market conditions and income growth soften further." Full Story: PYMNTS (9/2)
Fed eyes rate cuts as public remains concerned by higher prices Federal Reserve Chair Jerome Powell recently indicated that interest-rate cuts are on the way, and other policymakers have generally supported that view. However, despite Powell's comments about inflation easing without the economy tilting into recession, surveys suggest that many Americans are still concerned about elevated prices. Full Story: Reuters (9/3),The Associated Press (9/3)
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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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