Mortgage rates spend another week under 7% | Does NAR's settlement address the theoretical possibility of steering? | The power of social selling
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June 14, 2024
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The latest inflation numbers show housing affordability remains a problem.
Full Story: REALTOR® Magazine (6/13) 
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Settlement Answers
Does NAR's settlement address the theoretical possibility of steering?
Deck: Yes. In the agreement, NAR reaffirms its commitment to requiring that MLS participants must not limit the listings their client sees because of broker compensation.

Written buyer agreements, required by the NAR practice changes that will be implemented on Aug. 17, will also outline that MLS participants may not receive compensation for brokerage services from any source that exceeds the amount or rate agreed to in the agreement with the buyer. Since a broker working with a buyer cannot receive more compensation than the buyer has agreed to in that agreement, the amount of any offer of compensation is irrelevant to the buyer-broker's compensation.

Under these practice changes, NAR has eliminated any theoretical steering. A broker will not make more compensation by steering a buyer to a particular listing because it has a "higher" offer of compensation. Get more facts about NAR's proposed settlement agreement at facts.realtor.
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Best Practices in Sales & Marketing
Salespeople are interacting online with prospects and loyal customers, a practice known as social selling, writes Donald Kelly, founder of The Sales Evangelist. "Social selling is important because it actually drives sales, with 78% of social sellers outselling peers who don't use social media," Kelly writes.
Full Story: Salesforce Blog (6/12) 
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Pride Month marketing took a turn after trans-inclusive campaigns from Bud Light and Target, and some brands are backing away or walking "a fine line," says Joanna Schwartz of Georgia College & State University. "You can create that impact around your brand without doing anything that others might perceive as risque or daring," Schwartz says, noting brands like Apple are holding steady with inclusion.
Full Story: Marketplace (6/10) 
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Real Estate Trends
Miami-Dade Florida condo sales increased during the first full week of June, with 189 units sold for a total of $169 million. The top sale was a $17.3 million penthouse at Ritz-Carlton Residences, Miami Beach, with representation by Grace Dieterich, Nancy Batchelor and Andrew Holtz.
Full Story: The Real Deal (6/12) 
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Technology & Innovations
The Apple Watch can also function as a smarthome controller with a few basic configuration changes, as explained by a CNET expert.
Full Story: CNET (6/13) 
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Business Wellness
Massachusetts real estate professional Brandon Sweeney raises funds to support physical therapy and equipment for patients.
Full Story: REALTOR® Magazine (3/22) 
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Bees, puppies and owls, oh my! They can boost your career
(mraxpa/Getty Images)
Thinking about a "career spirit animal" may help you define where you are now in your career and where you might like to be, such as a monkey who is agile and adaptable, a puppy who is curious and energetic or an owl who is wise and continuously learning, write Julie Winkle Giulioni. "Throughout your career, you'll likely find yourself morphing among them, taking advantage of their unique qualities and advantages during various seasons of your working life," Winkle Giulioni notes.
Full Story: SmartBrief/Leadership (6/13) 
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Fair & Equitable Housing
Amazon has committed to injecting another $1.4 billion into its Housing Equity Fund, a move that is expected to create or preserve another 14,000 affordable housing units. Amazon launched the fund in early 2021, and it has already preserved or created 21,000 units.
Full Story: Bisnow (free registration) (6/12) 
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Legislation & Regulation
By communicating about its future plans, the Federal Reserve is able to indirectly influence key rates in the economy, even without adjusting the target range for the federal funds rate. For example, one key rate is the yield on 10-year Treasury notes, which affects mortgages and loans to property developers. The yield declined from 4.7% in late April to 4.27% on Thursday morning. The Fed will have more opportunities to outline its expectations, including at a policy meeting in late July.
Full Story: The Wall Street Journal (6/13) 
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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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