What National Association of Realtor’s $418 Million Settlement Means for Charlotte Housing

The recent settlement of $418 million by the National Association of Realtors (NAR) in an antitrust lawsuit has raised questions about its impact on real estate commissions and, consequently, home prices here in Charlotte. The lawsuit accused NAR of keeping realtor commissions artificially high, affecting the overall cost of homes for sellers, which could also indirectly inflate home prices.

Traditionally, home sellers have been responsible for commissions on both sides, usually around 6% of the sale price, shared between the seller’s agent and the buyer’s agent. With the median home sale price in Charlotte last month standing at $425K, according to Realtor.com, the total commission for the average Charlotte seller would amount to $25,500.

Real estate professionals are divided on the settlement’s impact. Some believe it could lead to higher commission fees for buyers, or cause them to use the seller’s agent or no agent at all. Additionally, forced changes to the Multiple Listing Service (MLS) rules could prevent listings from indicating the commission an agent would earn, further complicating the payment structure and transparency.

Other industry professionals, however, think the settlement could bring positive change. David Hoffman, founder of David Hoffman Realty and author of Relationship Over Rules, sees a potential win-win for both clients and agents.

“Once the dust settles (right now, there is a lot of hyperbola and conjecture being stated), I actually like the concept,” said Hoffman. “I believe that once all parties; sellers, listing agents, buyers, and buyers agents understand the new rules, the two main changes will be that sellers will feel more in control over their bottom line, as they should be as one of the main decision-makers, regarding who they want to compensate and work with, and, buyers agents will need to best articulate their value and quickly.”

In terms of how the settlement might affect the Charlotte housing market, Hoffman thinks there may only be a slight decrease in demand. “For the small fraction of sellers who don’t want to compensate a buyers agent, demand may drop slightly, due to less buyers looking at that property,” Hoffman said. “This may affect the odds of a bidding war, or even an offer, increasing days on market, and leading to price reductions, but, I only see this happening 10% of the time, as even fsbo’s almost always offer compensation to a co-broker.”

The NAR’s $418 million settlement highlights the evolving dynamics of real estate transactions and the potential for increased transparency and fairness in agent commissions.

What do you think about the settlement and realtor commissions in general?

Undocumented Man On Terror Watchlist Arrested After Shooting At NC Gas Station

An undocumented immigrant from Yemen, who is currently on the US Government’s terror watchlist, was arrested after a firefight with police at a North Carolina convenience store.

Awet Hagos, 32, faces multiple charges in Gates County, including three counts of assault on a government official, three counts of resisting a public officer, and one count of carrying a concealed weapon, with the possibility of additional charges being added, according to the News-Herald.

The Gates County Sheriff’s Office was called to the Quick Stop convenience store on US 13 South near Barfield Road around 6:40 pm on March 11th, following reports of gunfire. The situation escalated into a four-hour standoff after Hagos, who had concealed himself under a residence following the shooting incident at his workplace. Hagos was eventually detained and is now held on a $100,000 secured bond at Albemarle District Jail.

After he was booked, the U.S. Immigration and Customs Enforcement (ICE) contacted the Gates County Sheriff’s Office to report that Hagos is listed in the Terrorist Screening Dataset (TSDS), commonly referred to as the terrorist “watchlist”, according to Channel 10 News.

5 Things You’ll Miss If You Ever Leave Charlotte

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I may be a little biased, but to me, the QC is the greatest city in the world.

We have the perfect climate, pro sports without big-city prices and traffic, a growing number of art galleries and museums, tons of concerts, parades, and festivals, amazing food, interesting people, and plenty of nature.

Here are my top 5 reasons I could never think about leaving;

#1 Lake Norman

Lazy days spent with your favorite people, doing nothing more than floating around and enjoying the sunshine.

Whether you boated and tubed, or just hung up an Eno in a shady tree on the shore, nothing compares to a sunny day on Lake Norman;

#2 The Sports

In the past few years, the fan bases of the Panthers, Hornets, Knights, Checkers, and even Roller Girls have been growing like crazy. Our basketball team recently regained the Hornets name by popular demand, the Panthers having their best year ever last year, and the new Knights stadium is now officially the nicest minor league baseball field in America – what’s not to love?

Charlotte not only has the fastest growing fan base – our fans are also some of the coolest people in the world;

#3 The City

When I was still living in New York, I stopped in Uptown Charlotte on random trip down south. After about 15 minutes of walking around the cleanest city streets I’d ever seen – I fell in love. When I moved here, I quickly discovered that half the people I met had similar experiences.

Start walking through the city streets, and you’re bound to stumble on some incredible coffee shops (Smelly Cat, Not Just Coffee, Mugs, etc), someone selling hand-crafted jewelry, or some local art. You’ll constantly be surrounded by welcoming people, fresh local music, and unbelievably good food.

#4 The Growth

Charlotte’s massive growth spurt over the last few decades has allowed for an unparalleled entrepreneurial environment. Our city has seen businesses start from nothing and grow into billion-dollar empires (Bank of America, Red Ventures, Duke Energy).

From construction companies, to tech start-ups, to restaurant franchises – our growth has truly become contagious;

#5 The Community

Charlotte has the perfect balance of Carolina natives and transplants from all over the world (although most still come from NY, Ohio, or Florida). This has caused the development of a truly welcoming spirit – most Charlotteans really do love their neighbors and are always open to meeting new people.

We also have one of the largest number of charities (per capita) of anywhere in America;

Please share if you love Charlotte;

Charlotte Area Police Asking For Public’s Help In Finding Local Nature Trail Flasher

Local police are asking for the public’s help in finding a man wanted for indecent exposure.

This past Sunday at around 4:30 pm, the man in the picture below exposed himself on a trail near the McDowell Creek Greenway, behind Robbins Preserve Rd/Preserve Pond Rd. The suspect was wearing a black mask, sunglasses, a hat, and sweatpants, according to police.

If you have a doorbell or external camera and you live in the area, the Cornelius Police Department is now asking for your footage.

The department is also reminding all Charlotte area residents to report suspicious behavior on greenways or trails by calling 911. Tips can be provided anonymously to the Cornelius Police Department or North Mecklenburg CrimeStoppers at 704-896-7867.

Top Tips to Hire a Top-Rated Car Accident Attorney

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When it comes to hiring an attorney, the selection process isn’t easy.  It’s essential to find an attorney who specializes in car accident claims and has a good track record.

They will be familiar with the intricacies of this type of law and will understand how to negotiate with insurance companies. You should also consider their fees and whether they are transparent with you about them.

Assess Reputation

A reputable car accident lawyer will have a solid reputation within the community and be known for delivering results. They should also be able to answer questions and provide information about NYC’s confusing car accident claims system openly and honestly.

Having the right attorney by your side can help you avoid being taken advantage of by insurance companies. These companies are notorious for questioning and diminishing the severity of your injuries to reduce their payout.

Evaluate Experience

It’s important to choose an attorney with substantial experience representing car accident cases. An experienced lawyer will know how to navigate complex proceedings and will be familiar with local authorities, judges, and courthouse rules.

In addition to assessing their experience, you should look for an attorney who is transparent in explaining terms and conditions. They should be able to answer all your questions straightforwardly and give realistic guarantees about your chances of success. Many attorneys also offer free consultations so you can evaluate their services before planning.

Schedule Consultations

Once you’ve shortlisted potential attorneys, schedule initial consultations to discuss your case. Use this opportunity to assess their communication style, level of empathy, and overall demeanour. A top-rated car accident attorney will listen attentively to your concerns and provide clear, honest guidance on the best course of action.

Consider Resources

Evaluate the resources available to the attorney and their firm. A top-rated car accident attorney will have access to expert witnesses, investigative tools, and support staff to strengthen your case. Additionally, inquire about their willingness to take your case to trial if necessary, as this demonstrates their commitment to fighting for your rights.

Discuss Fees

A car accident attorney is essential for helping you navigate the judicial system and resolve your dispute. However, they aren’t free. Attorneys charge for their services, which includes a percentage of any recovery you receive. They know everything regarding car accident statistics.

When you meet with potential attorneys during a consultation, ask them about their fees. A trustworthy lawyer will have no problem explaining their rates and how they are calculated.

Additionally, you should bring all important documentation related to the accident. This can include paperwork from your insurance company and a copy of the police report. You should also be prepared to discuss your medical expenses, as a good car accident attorney will negotiate with hospitals and medical providers to lower your costs. This will allow you to keep more of your settlement money.

Evaluate Communication

A good car accident attorney is a skilled negotiator and will efficiently communicate with insurance companies. This increases the likelihood of a successful resolution to the lawsuit.

The right attorney will listen to you and understand your unique situation. They should be able to create long-term solutions that work for all parties involved. You don’t need a “jack-of-all-trades” lawyer who can’t find a way to solve your specific problem. A true car accident attorney will be creative and think outside the box to come up with effective solutions.

Reliability

The stress of dealing with the aftermath of a car accident can be overwhelming. A reliable attorney can take care of legal matters to give you peace of mind so you can focus on recovering from your injuries. They will take on the task of filling out paperwork, calculating fair settlement amounts, and negotiating with insurance companies.

Aggressive driving behaviours, poor weather conditions, and defective vehicles are some of the common causes of car accidents. A top-rated attorney will know how to handle these cases, ensuring you receive maximum compensation.

Seek Recommendations

When beginning your search for a top-rated car accident attorney, it’s crucial to tap into your network and seek recommendations from trusted sources. Friends, family members, or colleagues who have previously dealt with similar situations can provide invaluable insights based on their firsthand experiences. 

These individuals can offer honest feedback about the attorneys they worked with, shedding light on their professionalism, communication style, and overall effectiveness in handling car accident cases. By listening to their recommendations, you can narrow down your options to attorneys who have a proven track record of delivering favourable outcomes for their clients.

Review Credentials

Before entrusting your case to an attorney, it’s essential to conduct a thorough review of their credentials. Start by ensuring that the attorney is licensed to practice law in your state and is in good standing with the bar association. This verification serves as a foundational step in ensuring the legitimacy and credibility of the attorney. 

Additionally, take the time to look for any certifications or accolades that showcase their expertise in handling car accident cases. Attorneys who have received specialized training or recognition for their achievements are likely to possess the skills and knowledge necessary to navigate the complexities of your case effectively. By thoroughly reviewing the attorney’s credentials, you can make an informed decision and proceed with confidence in your choice.

Trust Your Instincts

Ultimately, trust your instincts when selecting a car accident attorney. Choose someone you feel comfortable with and confident in their abilities to represent your best interests. Remember, this is a crucial decision that can significantly impact the outcome of your case, so take your time and choose wisely.

With the right attorney by your side, you can navigate the complexities of the legal system with confidence and peace of mind.

The Advocacy Network: Connecting Brands with Enthusiastic Supporters

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The Advocacy Network: Connecting Brands with Enthusiastic Supporters

How do brands transform satisfied customers into enthusiastic advocates? What strategies can businesses employ to foster brand loyalty and amplify customer advocacy? In an era where consumer voices hold immense power, creating a dedicated advocacy network has become paramount for businesses striving to thrive in competitive markets. 

From identifying potential advocates to measuring the impact of advocacy efforts, every step in the process plays a crucial role in building customer loyaltyand lasting relationships with customers. This comprehensive guide delves into the intricacies of the advocacy network, exploring its significance, strategies for development, and methods for measuring its impact.

Identifying Potential Advocates:

The foundation of a thriving advocacy network lies in recognising individuals who possess the potential to become brand champions. Here are some key considerations:

  • Customer Loyalty: Look for customers who exhibit consistent brand preference and express high levels of satisfaction through repeat purchases, positive reviews, and active engagement on social media channels.
  • Social Influence: Identify individuals with a strong online presence and a network of engaged followers. Look for individuals who actively participate in online communities, forums, or social media groups relevant to your industry.
  • Brand Passion: Seek out customers who demonstrate genuine enthusiasm for your brand and its values. This can be evidenced through participation in brand events, brand communities, or by consistently expressing positive sentiment about your products or services.
  • Industry Expertise: Consider individuals who hold authority or influence within their respective fields and can provide valuable insights. Look for industry thought leaders, journalists, reviewers, or bloggers who align with your brand values and target audience.

Building and Growing the Advocacy Network:

Once potential advocates are identified, fostering a relationship and nurturing their brand loyalty is crucial. Here are effective strategies:

  • Personalized Communication: Engage with potential advocates through personalised outreach, expressing appreciation for their past interactions and highlighting their value as potential brand partners. Move beyond generic marketing messages and tailor your communication to acknowledge their specific contributions and interests.
  • Exclusive Content: Provide early access to new product launches, exclusive discounts, or behind-the-scenes content to cultivate a sense of exclusivity and deepen the connection. This demonstrates that you value their opinion and gives them a unique perspective on your brand.
  • Community Building: Create a dedicated online forum or social media group specifically for advocates. This provides a platform for them to connect, share experiences, exchange ideas, and build relationships with each other. This fosters a sense of belonging and strengthens the overall advocacy network.
  • Loyalty Programs: Implement a customer loyalty program that rewards advocates for their engagement. This can include points systems, badges, exclusive experiences, or early access to new products or features. Recognition and reward programs go beyond simple transactions, demonstrating that you value their ongoing support.
  • Referral Programs: Incentivise advocates to refer new customers through attractive referral programs. This leverages their social network and extends the reach of your brand message through trusted sources.

Empowering Advocates Through Resources and Support:

Equipping advocates with the necessary tools and information empowers them to become effective brand ambassadors. Here’s how:

  • Advocacy Software: Utilise customer advocacy software to streamline communication, manage advocate activities, and provide access to vital resources. This software can house brand assets like logos, messaging guidelines, product information, and training materials, ensuring advocates have everything they need to effectively represent your brand.
  • Training and Workshops: Offer training sessions or workshops to equip advocates with the knowledge and skills necessary to effectively communicate the brand message. These sessions can cover topics such as product features, brand messaging, and social media best practices.
  • Product Knowledge: Ensure advocates possess in-depth knowledge about your products or services through exclusive product briefings or training programs. This empowers them to answer customer inquiries with confidence and address product-related concerns effectively.

Facilitating Collaboration and Co-Creation:

A successful advocacy network thrives on a two-way street. Here’s how to encourage collaboration and co-creation:

  • Idea Exchange: Create channels for advocates to share their ideas, suggestions, and feedback on product development, marketing strategies, and overall customer experience. This valuable feedback loop allows you to incorporate the customer perspective into decision-making processes.
  • Beta Testing Programs: Invite advocates to participate in beta testing new products or features. This gives them a sense of ownership and allows them to provide valuable insights before a product launch. Their feedback can help identify potential issues and ensure a smoother product launch.
  • Content Creation: Partner with advocates to co-create content such as blog posts, social media content, or video testimonials. Leverage their unique voice and perspective to create authentic content that resonates with your target audience. This type of collaboration allows you to tap into the creativity and reach of your advocates.

Amplifying Advocacy Efforts

Having a vibrant network of advocates is only half the battle. To maximise their impact, you need to strategically amplify their voices and ensure their message reaches the intended audience. Here are some effective strategies:

  • Social Media Integration: Encourage advocates to share their positive experiences and brand endorsements on their social media platforms. Provide them with shareable content like pre-written social media posts, engaging visuals, and relevant hashtags.
  • Content Marketing: Feature advocate testimonials, case studies, and co-created content on your website, blog, and email loyalty marketing campaigns. This leverages the power of social proof and showcases the positive experiences of real customers.
  • Public Relations: Partner with advocates to participate in media interviews, industry events, or speaking engagements. This allows them to reach a wider audience and share their brand advocacy on a larger platform.
  • Influencer Marketing: Identify advocates who possess significant social media influence and collaborate with them on targeted campaigns. Leverage their reach and credibility to amplify your brand message and drive brand awareness.
  • Customer Advocacy Software: Utilise the features of customer advocacy software to streamline content sharing and social media amplification efforts. These platforms can schedule posts, track campaign performance, and measure the reach of advocate-generated content.

Measuring the Impact of the Advocacy Network

Building a robust advocacy network requires ongoing evaluation and measurement to assess its effectiveness. Here are key metrics to track:

  • Brand Awareness: Monitor metrics such as website traffic, social media mentions, and brand sentiment analysis to gauge the impact of advocacy efforts on brand awareness.
  • Engagement: Track metrics such as social media engagement (likes, comments, shares), website click-through rates, and email open rates to understand how effectively advocates are engaging their audience.
  • Customer Acquisition: Monitor the number of new customer referrals generated through advocate efforts and track their conversion rates to measure the direct impact on customer acquisition.
  • Sales Impact: Analyse the average order value and customer lifetime value of customers acquired through referrals to assess the financial contribution of the advocacy network.
  • Net Promoter Score (NPS): Track your Net Promoter Score (NPS), which measures customer loyalty and likelihood to recommend your brand. A high NPS indicates a strong and positive brand perception, often influenced by effective advocacy efforts.

Conclusion

The landscape demands fostering a network of passionate brand advocates. Customer advocacy meaningsurpasses traditional marketing, harnessing the power of trusted connections and authentic voices.

Building a robust advocacy network requires a strategic approach. Identify potential advocates, nurture their loyalty, and empower them with the necessary tools. This cultivates a community of vocal brand champions who share positive experiences, amplify your message, and ultimately drive customer acquisition, brand loyalty, and positive sentiment.

SCHOTT Pharma Selects North Carolina To Build Their First US Facility w/ $371 Million Investment

SCHOTT Pharma, a leader in pharmaceutical and biotech drug containment and delivery systems, is set to open a new manufacturing facility in North Carolina, further advancing our state’s reputation as the ‘silicon valley of pharmaceuticals‘.

Part of the SCHOTT Group, the company is most known for facilitating over 25,000 injections globally per minute.

Their new US headquarters will create at least 401 jobs with a $371 million investment in the town of Wilson. It will be the first in the U.S. to produce high-performance, pre-fillable polymer syringes, enhancing the supply of essential syringes for therapies requiring precise storage and transport.

This expansion is supported by the North Carolina Department of Commerce, reflecting the state’s strategic efforts to strengthen the domestic supply chain for critical medical supplies.

“SCHOTT’s decision to select our state for this important project shows once again that North Carolina is a global leader for biotechnology and life sciences,” said Governor Cooper in a press release. “From our expertise in biomanufacturing to the proven education and training systems that are critical for workforce development, global companies recognize North Carolina’s clear advantages as a place to do business.”

The positions at the new facility will offer an average salary of $57,868, above Wilson County’s average of $52,619. The project’s funding includes a Job Development Investment Grant (JDIG) from the state, projected to boost North Carolina’s economy by $1.32 billion over 12 years. The JDIG agreement allows for up to $4,939,000 in reimbursements to SCHOTT Pharma, contingent on meeting job creation and investment targets, with a 221 percent return on investment, indicating a significant economic benefit for the state.

Fort Mill Decides on $204 Million Education Future: New Schools and Tech on the Line

Fort Mill residents are heading to the polls today to vote on a crucial decision regarding a $204 million bond referendum.

The Fort Mill School District is saying the new funding is needed to address new facilities and resource needs for the coming five years given the historic level of growth the town is currently experiencing.

The proposal includes the construction of a new middle school adjacent to an elementary school currently in the works. The bond will exclusively fund the middle school, which district officials deem essential for reducing overcrowding and maintaining manageable class sizes for educators. Additionally, the district aims to establish a new early childhood education center.

If the bond is approved, it would also finance technological enhancements, acquisition of land for future educational facilities, and various maintenance endeavors.

If you live in Fort Mill, you can find your polling location and more information about the bond referendum here.

Six Carolina Teams Selected For This Year’s March Madness Tournament

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The unveiling of the full March Madness bracket has set the stage for 68 teams to vie for this year’s national championship.

Among these contenders, six teams hail from the Carolinas, with an equal split between the two states. From North Carolina, the representatives are North Carolina, NC State, and Duke, while South Carolina is represented by South Carolina, Clemson, and Charleston.

Duke has secured the #4 seed and is slated to face the #13 seed Vermont on Friday, March 22, in Brooklyn. NC State, with the #11 seed, will compete against the #6 seed Texas Tech in Pittsburgh on Thursday, March 21. The #1 seed UNC is scheduled to play against the #16 seed, which will be the winner of the Howard vs. Wagner match, in Charlotte on the same day.

Charlotte will be hosting a total of four games during the tournament’s initial round at the Spectrum Center, all scheduled for this coming Thursday (you can buy tickets for any of the March Madness Charlotte games here).

The matchups include Mississippi State vs. Michigan State, Tennessee vs. St. Peter’s, and Texas vs. Colorado State/Virginia, in addition to North Carolina’s game against the Howard/Wagner winner. The subsequent rounds will see the victor of the UNC/Howard/Wagner match facing off against the winner of the Mississippi State/Michigan State game, while the Tennessee/St. Peter’s game winner will compete against the victor of the Texas/Colorado/Boise State match.

This year’s tournament not only showcases the athletic prowess of the participating teams but also highlights the Carolinas’ significant contribution to the national collegiate basketball landscape.

You can see the full bracket and pick your winners here.

North Carolina Ranked As Having The Second-Fastest Decline in Job Quitting

New data has found the states where the job quits rate is rising and declining the fastest, with the rate decreasing the second most rapidly in North Carolina.

The ranking, collated by SelectSoftware, shows the percentage change in the job quits rate for each state between November 2022 and November 2023 (the latest figures available from the Bureau of Labor Statistics). The job quits rate is defined as the number of people resigning during an entire month as a percentage of the number of people employed.

North Carolina has taken second place in the ranking for the states with the greatest decline in job quitting, with the job quits rate decreasing by 35.7% between November 2022 and November 2023The Tar Heel State is following the national trend, with the decline in quitting, but is doing so at a faster rate; the national quits rate decreased by 18.5% across the same 12-month period. 

States with the biggest decrease in quitting

Rank State % change in the resignation rate
1 California -44.8%
2 North Carolina -35.7%
3 Maryland -35.5%
4 Georgia -33.3%
5 Tennessee -27.3%
6 Alaska -26.1%
7 Texas -25.8%
8 Delaware -25.0%

 

South Dakota has been crowned the state with the highest rise in job quitting, with the job quits rate increasing by 21.4% between November 2022 and November 2023The Mount Rushmore State diverges from the national trend quite considerably, with the national quits rate dropping by 18.5% during the same 12-month period.

States with the biggest increase in quitting

Rank State % change in the resignation rate
1 South Dakota 21.4%
2 North Dakota 15.4%
3 Wisconsin 13.6%
4 Michigan 9.1%
5 Nebraska 8.7%
6 Maine 8.0%
7 New Hampshire 5.0%
8 Illinois 4.8%