Daily Real Estate News

Fewer Babies Is Bad for Business

NAR Daily News Magazine - June 14, 2019 - 12:00am

Why the real estate industry is alarmed by the drop in birth rates.

Habitat for Humanity Campaign Advocates for Housing Affordability

NAR Daily News Magazine - June 13, 2019 - 12:00am

The organization is looking to mobilize professionals across the country to press for solutions to the affordable housing conundrum.

How to Drive More Visitors to Your Site and Blog

NAR Daily News Magazine - June 13, 2019 - 12:00am

Just because you build it doesn’t mean they’ll always come. Get more potential online leads directed your way.

HGTV Teams With Real Estate Firms in Ultimate House Hunt 2019

NAR Daily News Magazine - June 13, 2019 - 12:00am

Vote for your favorite listing in the HGTV Ultimate House Hunt 2019, which features big city digs, countryside retreats, waterfront homes, historic properties, and more.

Calif. MLS Giant Temporarily Shuts Down After Malware Attack

NAR Daily News Magazine - June 13, 2019 - 12:00am

The largest multiple listing service that serves Northern California was forced to close its listing site for a day after becoming the latest victim of a cyberattack.

Tax Reform May Be Making Renters Feel Richer

NAR Daily News Magazine - June 12, 2019 - 12:00am

Renters are unlocking savings on their federal taxes, and a real estate researcher believes that will translate into greater home sales.

Consumers Are Clueless About How to Qualify for a Mortgage

NAR Daily News Magazine - June 12, 2019 - 12:00am

It's true: Americans continue to have a lot of wrong assumptions about what it takes to get a mortgage. You can help set them straight.

The Most Affordable Metros for Newlyweds

NAR Daily News Magazine - June 12, 2019 - 12:00am

Couples who are ready to tie the knot and build a household in these cities will draw less from their nest egg.

CEOs Divulge Their Most Unconventional Career Advice

NAR Daily News Magazine - June 12, 2019 - 12:00am

Executives from several industries shared with The Wall Street Journal some of their best tips for a long and rewarding career.

2 Popular Home Features Buyers Surprisingly May Regret

NAR Daily News Magazine - June 12, 2019 - 12:00am

When your buyers rank certain features high on their must-have lists, the reality check you give them may make them happier over the years.

7 Sneaky Ways Restaurants Get You to Spend More

RisMedia Consumer News - June 11, 2019 - 2:32pm

(TNS)—We’ve all been there: You go out to dinner with a set budget, having already decided what to order and set aside the perfect amount for a tip. Then, your bill comes at the end of the night and you’ve somehow spent way beyond your limit.

Don’t be too hard on yourself. There’s science behind persuading you to spend more. You can scope out the city’s best happy hour deal, take advantage of online coupons and even save on your first round of drinks at home, but restaurateurs and menu engineers have nearly perfected the psychology of making you spend money during a night out.

Here are some common tactics restaurants use to get patrons to fork over more cash.

  1. Menu Minimalism
    From eliminating dollar signs to adjusting font weights and kerning, there are all kinds of theories for what draws a buyer’s eye on a menu.

Ryan Gromfin, author, restaurateur and founder of TheRestaurantBoss.com, says the most successful menu designs, for restaurant owners, are those that make price the last thing you see.

“Bury the price in the text,” he says. “Put the price in the description, not in the header of each menu item.”

Because numbers tend to automatically look larger than letters, it also pays to reduce the font size of prices so your eye isn’t immediately drawn to them.

Menu engineering, from fonts and lettering to page layout, can influence your choice of meal, but tricking customers isn’t the objective.

“We’re not trying to deceive anyone; we’re not trying to make them solve riddles to figure out the price,” Gromfin says. “I just don’t want it to be the first thing they see. I want them to read a description and fall in love with an item and then see the price.”

  1. Server Enhancements
    Upselling isn’t exactly an industry secret, but it’s important to be aware of the tactic so you don’t catch yourself splurging on something you may not really want.

To encourage upselling, especially on one specific product or special, many restaurant managers will offer incentives for servers. This can include a cash bonus or other reward for the servers who sell the most of that particular item.

Gromfin says the most effective servers offer enhancements not just to pull more money from you, but to actually enhance your meal.

“This is giving people a better experience,” he says. “Don’t ask someone if they want avocado on their hamburger because it’s more expensive; ask if they want avocado on their hamburger because it’s a better hamburger with avocado.”

  1. Details, Details, Details
    The best servers know that adding flourishes to their description of specials can help upsell a guest, but the same holds true for menu designers. For your entree, would you prefer a “100% Angus beef burger on a golden brioche bun with melted American cheese, fresh green lettuce, juicy Roma tomatoes, caramelized onions and tangy, spicy secret sauce,” or simply a “cheeseburger”?

According to a study by researchers at the University of Illinois at Urbana-Champaign, adding descriptive menu labels increased sales by 27 percent and also improved attitudes toward the food and restaurant itself and increased repatronage.

  1. Trojan Horse Menu Items
    Even the most mouth-watering descriptions can be more effective for profits when paired with what Gromfin calls a price juxtaposition or price decoy, which is the practice of “putting something that is artificially substantially more expensive than the rest of your menu and then putting something else directly under it that looks expensive on its own but isn’t when it’s next to the really expensive thing.”

When listed under a $30 steak, the $20 fish entree you were hesitant to order can suddenly seem more appealing to your wallet.

  1. Comfort and Concept
    Once you’ve finished a glass of wine and settled in under a restaurant’s low lighting and comfortable seats, you may be more open and receptive to spending extra time (and money) on your meal.

That comfort level is something that successful restaurants aim to provide their customers through every step in the process, from the moment you enter the restaurant until you leave.

“If I don’t feel comfortable, I’m not going to take a risk on a menu,” Gromfin says. “If I walk into a restaurant and there’s no energy and no vibe and the cashier is fumbling through his words, I’m instantly going into protective mode.”

Not only does your comfort mean more profit for the restaurant; it also means you get your money’s worth.

  1. Heavy-Handed Pouring
    Anytime your table orders a bottle—whether it’s wine or sparkling water—keep an eye on your server’s attentiveness. Excellent service is always a plus, but they likely want you to finish that first bottle as quickly as possible so they’ll have the chance to replace it before your meal arrives. This means a timely refill whenever your glass starts to drain.

The same applies to beer or cocktails, which are some of the most profitable items on the menu. The quicker you finish each glass, the more time a server has to sell you on another.

  1. Visible Desserts
    Dessert-savvy restaurant owners may leave dessert menus on the table for you to peruse throughout your dining experience or even have you walk past a dessert display before you reach your table.

As a result, you’re more likely to approach your experience with dessert in the back of your mind. Throughout your main meal, you’ll be more likely to save room so you can splurge on that strawberry cheesecake or apple crumble. There’s nothing wrong with treating yourself every now and then, but make sure you’re not impulse-buying something that may leave you unsatisfied later.

Gromfin says the real secret to any long-lasting and successful restaurant, both in terms of bringing in revenue and in encouraging repatronage, is exceeding expectations. Any good restaurateur knows that menu engineering and tricky tactics will go only so far if you leave unhappy.

If you have confidence in a restaurant and your expectations are exceeded each time, you’re going to feel better about spending more money. Just remember to be smart about the choices you make so you don’t spend the next two weeks after payday regretting that pricey entree or extra glass of wine.

©2019 Bankrate.com
Distributed by Tribune Content Agency, LLC

The post 7 Sneaky Ways Restaurants Get You to Spend More appeared first on RISMedia.

Is Amazon Tiptoeing Into Home Selling?

NAR Daily News Magazine - June 11, 2019 - 12:00am

Amazon has been offering entire house kits on its site and they’re getting snatched up quickly.

Every State’s Most Googled Finance Questions

NAR Daily News Magazine - June 11, 2019 - 12:00am

When consumers have questions about income taxes and mortgages, where do they turn? The internet.

Expectation vs. Reality: Planning for Ownership

NAR Daily News Magazine - June 11, 2019 - 12:00am

One in five parents say they expect their child to own a home by age 25, but this doesn’t always match real life.

Real Estate Community Voices Support in Health Care Fight

NAR Daily News Magazine - June 11, 2019 - 12:00am

Earlier this year, a federal court ruled that provisions of a Department of Labor rule—which has made access to association health plans more widespread—were unlawful. NAR and others in the industry are speaking out.

The Top Choice for 2020 Color of the Year

NAR Daily News Magazine - June 11, 2019 - 12:00am

Forecasters are starting their guesses early for next year’s best shade.

Millennials Willing to Go Into Debt for Travel Experiences

RisMedia Consumer News - June 10, 2019 - 3:06pm

(TNS)—People love traveling, whether it’s meant to get away and relax or to reconnect with family and loved ones. However, a new survey reveals that some people are so willing to travel even if it may hurt them financially.

The home-sharing platform Vrbo conducted a survey of American travelers with the help of Ipsos and found that millennials aren’t willing to put off their vacation, even if they can’t afford it.

“Forget what you thought about millennials traveling on a shoestring,” said Karen Fuller, senior director of Global Market Research at Vrbo. “Our results revealed that they are actually the most likely to go into debt for travel, which is consistent with the notion that millennials like to accumulate experiences, not things.”

Comparatively, only 27 percent of Gen Xers and 15 percent of baby boomers were willing to go into debt for travel.

As Fuller explained, millennials are focused on having experiences, rather than material things. This matches up with the survey findings that discovered that 45 percent of millennials will “travel purely for exploration in 2019.”

In terms of Gen X, 20 percent said they’ll travel for a special occasion this year, while 44 percent will travel for a milestone event such as a birthday or anniversary. Baby boomers are the least likely to travel for a hobby or activity such as hiking or skiing, compared to 23 percent of millennials.

©2019 Travelpulse
Visit Travelpulse at www.travelpulse.com
Distributed by Tribune Content Agency, LLC

The post Millennials Willing to Go Into Debt for Travel Experiences appeared first on RISMedia.

Bank of America Offers Zero-Dollar Origination Fees

NAR Daily News Magazine - June 10, 2019 - 12:00am

The lending giant has made several recent moves to reduce the borrowing costs of would-be home buyers who face affordability constraints.

Airbnb Guests Raise Concerns About Surveillance

NAR Daily News Magazine - June 10, 2019 - 12:00am

The majority of short-term renters say they’re worried about hidden cameras watching them during their stay at a vacation property.

There’s a ‘Hybrid Closing’ Option for Tech-Averse Clients

NAR Daily News Magazine - June 10, 2019 - 12:00am

Even as paperless transactions simplify the homebuying process, not everyone wants to go completely digital.

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