Two real estate pros explain the parts of their job they're highlighting for consumers ahead of the Aug. 17 practice changes implementation date.

Real estate thought share insights on how agents can embrace change, build community and leverage technology to drive meaningful progress. Read more at NAR's Emerging Technology blog.

Sales consultant Collen Francis advises that sales prospecting should focus on processes to increase understanding of customers and their businesses. "To create and maintain a high-growth, high-profit business, you must be more deliberate in your prospecting approach and how you frame your message," Francis writes.

Focus on contrast to engage audiences when making presentations, writes Phoebe Perelman, who recommends using contrast in thematic elements such as solutions and problems as well as visual elements. "In a nutshell, contrast places opposing elements together to highlight their differences, making it a versatile tool beyond aesthetics alone," Perelman writes.

Influencer marketing has evolved significantly this year, with brands becoming more selective and data-driven in their partnerships and influencers benefiting from better-aligned brand deals due to advanced data tracking. The industry is expected to be worth $24 billion by year's end, according to Hubspot data, and brands are focusing on long-term relationships rather than one-off gifting.

Mortgage refinancing in the U.S. saw a significant increase last week, with a Mortgage Bankers Association's index rising 34.5% to reach its highest level in more than two years. Mortgage applications for home purchases grew 2.8%, marking the largest increase since early June. Meanwhile, the contract rate on a 30-year fixed mortgage edged downward 1 basis point to 6.54%.

Home buyers increasingly consider sustainability, driving the popularity of systems such as motorized window shades. The promotion of energy efficient features have become an important factor in listing, agents say.

Public-private partnerships in Durham, North Carolina, are facilitating the development of new mixed-income housing projects. These initiatives aim to address affordable housing shortages by leveraging collaboration between local governments and private developers, ensuring that diverse income groups have access to quality living spaces.

The consumer price index was up 0.2% in July and 2.9% on a year-over-year basis, according to the Labor Department, potentially bolstering the case for an interest-rate cut in September. Meanwhile, a core measure that excludes food and energy rose 0.2% for the month and 3.2% from the prior year.

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, cautioned against waiting too long to lower interest rates, particularly because the impact of monetary policy on the economy may be delayed. Meanwhile, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, noted that the Fed must consider its responsibility to maintain full employment. Bostic said he is "open to something happening in terms of us moving before the fourth quarter."