Yun to lawmakers: Market won't improve without action on supply

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Yun to lawmakers: Market won't improve without action on supply | Tell us: What's your funniest memory on the job? | Successful agents find motivation in remembering their 'big why,' expert says

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July 22, 2022

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Yun to lawmakers: Market won't improve without action on supply The inventory crunch will continue to chip away at affordability and sideline more buyers unless Congress enacts policies to boost housing production, NAR's chief economist testifies on Capitol Hill. Full Story: REALTOR® Magazine (7/21)

FREE MARKET CRASH SURVIVAL KIT Proven Strategies to GROW Your Real Estate Business in a DOWN Market despite Rising Interest Rates, Out of Control Inflation, Housing Bubble Hysteria & a Bear Stock Market. Learn how to turn the market crash into the best thing that ever happened to your real estate business >> HERE

Best Practices in Sales & Marketing

Tell us: What's your funniest memory on the job? We've heard of agents crawling through doggy doors to get inside a home showing and using the bathroom at a property mislabeled as an open house. What crazy story do you have from your time working in real estate? Share your story with REALTOR® Magazine.

Successful agents find motivation in remembering their 'big why,' expert says An active presence on social media, doing your research and good communication are among keys to success for real estate agents. "Setting yourself apart from the crowd requires you to understand your 'big why—in other words, knowing why you committed to a career in real estate. Your 'big why' will pull you through the highs and lows of building a strong business model for yourself," says Tessa Sims, CEO of KW Real Estate Schools. Full Story: HubSpot (7/21)

Creative concessions help close sales as market cools Buyer's agents are finding deals in the Los Angeles area amid an ongoing market shift as sellers get creative to close deals. Seller financing, mortgage-rate buydowns and repair credits are among the tools agents can tap to attract buyers. Full Story: Los Angeles Daily News (7/21)

Real Estate Trends

Mortgage rates rise ahead of Fed's big announcement The Federal Reserve is expected to raise its key benchmark rate this coming week. What impact could it have on mortgage rates? Full Story: REALTOR® Magazine (7/21)

Market conditions lead to back-and-forth between buyers, sellers Real estate agents are seeing rapidly changing market conditions bring volatility to valuations and the demand cycle. Leslie Sargent Eskildsen, an agent with RealtyOne Group West, describes the current situation as similar to a game of "leapfrog" between buyers and sellers, noting that "until there are enough transactions to form a significant trend, it is up to each party to search their souls and their bank accounts to see if they will take the leap." Full Story: The Orange County Register (Anaheim, Calif.) (tiered subscription model) (7/21)

Fair & Equitable Housing

Seattle's payroll tax funds affordable housing A new payroll tax levied on businesses will fund more than 1,700 affordable housing units under the JumpStart Seattle program. In its first year, this tax brought in $248.1 million. Full Story: GeekWire (7/21)

Manufactured-home communities represent affordable option for many Manufactured homes are increasingly attracting budget-conscious buyers or those looking to downsize. "What we have seen is that manufactured homes are anywhere from three to five times cheaper than site-built homes," said Mike Bullard of Resident Owned Communities USA. Full Story: The Boston Globe (tiered subscription model) (7/21)

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