How does NAR's settlement agreement change the way buyer brokers get paid? | Leaders on where multicultural marketing is headed | How to help leaders, teams create value
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Offers of compensation could continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. The types of compensation available for buyer brokers would continue to take multiple forms, depending on broker-consumer negotiations, including but not limited to:
Fixed-fee commission paid directly by consumers
Concession from the seller, provided that such concessions are not conditioned on the use of or payment to a buyer broker
Portion of the listing broker’s compensation
Compensation would continue to be negotiable and should always be negotiated between agents and the consumers they serve. Get more facts about the settlement at facts.realtor.
Advertising executives share their thoughts on whether the term multicultural marketing is still relevant and discuss the rise of agencies referring to themselves as cross-cultural and an increase in companies hiring "culture" agencies. Alma CEO Isaac Mizrahi says, "[Y]ou can be both a great agency and a great multicultural agency," while Walter Isaacson CEO Aaron Walton notes, "You can't just create a title, create a department and not have the history, the passion or the depth of understanding for that particular culture."
Employers can increase innovation by encouraging teams and leadership to focus on creating new value while protecting existing value, write management professors David A. Hofmann and John J. Sumanth. They suggest leaders provide clear expectations, focus on a few vital areas, ask detailed questions about initiatives and keep identifying and re-examining value-creation opportunities.
Seventy-eight percent of older American homeowners intend to remain in their houses as they age, the real estate brokerage Redfin reports. "Older Americans are aging in place because it makes financial sense, but also because it's human nature to avoid thinking about challenging scenarios such as needing help as you get older," said Daryl Fairweather, Redfin's chief economist.
About a third of US consumers have tried generative AI, a quicker rate than in the UK, 27%, and France, 25%, Forrester reports. Young males and highly educated consumers use generative AI like ChatGPT the most, but only 29% of US, UK and French consumers say they trust it.
Small business owners should regularly conduct fraud checks and divide responsibilities among employees to avoid fraud control being siloed under one person, suggests Nick Chandi, CEO of Forwardly. Businesses should also invest in fraud insurance and employee training so everyone can identify and avoid fraud.
The Department of Housing and Urban Development is dedicating over $30 million to housing organizations across the country via its Fair Housing Initiatives Program, targeting the enforcement of the Fair Housing Act and eliminating housing discrimination. HUD Acting Secretary Adrianne Todman affirmed the commitment, stating, "HUD is committed to rooting out any forms of discrimination in housing, not just through words, but through real resources."
Federal Reserve members, including San Francisco Fed President Mary Daly and Cleveland Fed President Loretta Mester, have indicated that they aren't in a hurry to adjust monetary policy. Three rate cuts could still be coming this year, but "it really depends on what happens in the economy," Mester said. Three cuts is a "reasonable baseline" but there is "no urgency to adjust the rate" given the strength of the economy, Daly said.
Economic indicators are primarily positive despite signs of a potential slowdown, with solid job growth, spending and business investment suggesting the waning threat of a recession, writes Brad McMillan, chief investment officer at Commonwealth Financial Network. However, healthy economic growth is elevating inflation, posing a risk alongside wars in the Middle East and Europe. McMillan notes that growing corporate earnings and a resilient US economy set a strong foundation for the rest of the year despite the risks.
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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