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Celebrating Success, Honoring Leaders at 21st Annual Power Broker Event

By Susanne Dwyer

pb16_on_shoulders_giants_award

An at-capacity crowd of over 500 brokers and industry leaders converged in Orlando on Nov. 4 to attend RISMedia’s 21st Annual Power Broker Reception & Dinner, sponsored by Quicken Loans and Xome and held in conjunction with the National Association of REALTORS® Conference & Expo.

The evening recognized the accomplishments of those brokers who ranked in RISMedia’s 2016 Power Broker Report, an annual survey of the nation’s top brokerage firms. This year’s Power Broker Dinner also recognized three leaders for their outstanding accomplishments and contributions to the real estate industry:

RISMedia’s On the Shoulders of Giants Award, sponsored by RE/MAX
Presented by Mike Ryan, executive vice president of RE/MAX LLC, the ‘On the Shoulders of Giants’ Award was created to recognize those individuals whose efforts, works, deeds and character exemplify superior achievements in and for the real estate industry, yet whose efforts often go unnoticed. This year’s winner was Dale Stinton, chief executive officer of the National Association of Realtors® (NAR).

“I am honored and humbled to win the ‘On the Shoulders of Giants’ award,” says Stinton. “Serving the members of the National Association of Realtors® and shaping the real estate industry has been both the motivation and cause of my professional career. Throughout my entire tenure, I have been fortunate to work with some of the greatest NAR presidents and industry giants. Without their vision, NAR and its members would not be positioned for greater success in the 21st century.”

RISMedia’s Tech Titan Award, sponsored by Homes.com
Presented by David Mele, president of Homes.com, the Tech Titan Award is presented to brokerage leaders who have demonstrated an exceptional ability to adapt and integrate new and innovative tools and services within their organization to improve and enhance the overall consumer experience. This year’s winner was William “Bill” Watson, Jr., chairman of the board, Watson Realty Corp.

“We are humbled to win the Tech Titan award from RISMedia,” says Watson, Jr. “It is confirmation of Watson’s commitment to staying ahead of the curve when it comes to technology. Watson firmly believes that advancing our technology allows our associates to cover more ground and gain maximum exposure in their respective areas. We also feel our investment in technology has long range benefits to the success of Watson Realty Corp.”

pb16_leadership_awardRISMedia’s Leadership Award, sponsored by Buffini & Company
Presented by Dermot Buffini, CEO of Buffini & Company, the Real Estate Leadership Award is designed to honor an industry visionary who embraces innovation and exercises resilience to blaze new paths to success for real estate professionals and consumers alike. This year’s winner was Phil Soper, CEO of Royal LePage.

The Power Broker event was capped off with a riveting discussion of innovation and the evolution into digital media by keynote speaker Terry Jones, founder of Travelocity and Kayak and currently chairman of new start-up Wayblazer. Jones focused on the importance of embracing change, not being afraid to fail, and the power of culture.

<a target="_self" href="http://rismedia.com/wp-content/uploads/2016/11/PB16_Dinner_Terry_Jones.jpg" …read more

From:: Finance and Economy

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Celebrating Success, Honoring Leaders at 21st Annual Power Broker Event

By Susanne Dwyer

pb16_on_shoulders_giants_award

An at-capacity crowd of over 500 brokers and industry leaders converged in Orlando on Nov. 4 to attend RISMedia’s 21st Annual Power Broker Reception & Dinner, sponsored by Quicken Loans and Xome and held in conjunction with the National Association of REALTORS® Conference & Expo.

The evening recognized the accomplishments of those brokers who ranked in RISMedia’s 2016 Power Broker Report, an annual survey of the nation’s top brokerage firms. This year’s Power Broker Dinner also recognized three leaders for their outstanding accomplishments and contributions to the real estate industry:

RISMedia’s On the Shoulders of Giants Award, sponsored by RE/MAX
Presented by Mike Ryan, executive vice president of RE/MAX LLC, the ‘On the Shoulders of Giants’ Award was created to recognize those individuals whose efforts, works, deeds and character exemplify superior achievements in and for the real estate industry, yet whose efforts often go unnoticed. This year’s winner was Dale Stinton, chief executive officer of the National Association of Realtors® (NAR).

“I am honored and humbled to win the ‘On the Shoulders of Giants’ award,” says Stinton. “Serving the members of the National Association of Realtors® and shaping the real estate industry has been both the motivation and cause of my professional career. Throughout my entire tenure, I have been fortunate to work with some of the greatest NAR presidents and industry giants. Without their vision, NAR and its members would not be positioned for greater success in the 21st century.”

RISMedia’s Tech Titan Award, sponsored by Homes.com
Presented by David Mele, president of Homes.com, the Tech Titan Award is presented to brokerage leaders who have demonstrated an exceptional ability to adapt and integrate new and innovative tools and services within their organization to improve and enhance the overall consumer experience. This year’s winner was William “Bill” Watson, Jr., chairman of the board, Watson Realty Corp.

“We are humbled to win the Tech Titan award from RISMedia,” says Watson, Jr. “It is confirmation of Watson’s commitment to staying ahead of the curve when it comes to technology. Watson firmly believes that advancing our technology allows our associates to cover more ground and gain maximum exposure in their respective areas. We also feel our investment in technology has long range benefits to the success of Watson Realty Corp.”

pb16_leadership_awardRISMedia’s Leadership Award, sponsored by Buffini & Company
Presented by Dermot Buffini, CEO of Buffini & Company, the Real Estate Leadership Award is designed to honor an industry visionary who embraces innovation and exercises resilience to blaze new paths to success for real estate professionals and consumers alike. This year’s winner was Phil Soper, CEO of Royal LePage.

The Power Broker event was capped off with a riveting discussion of innovation and the evolution into digital media by keynote speaker Terry Jones, founder of Travelocity and Kayak and currently chairman of new start-up Wayblazer. Jones focused on the importance of embracing change, not being afraid to fail, and the power of culture.

<a target="_self" href="http://rismedia.com/wp-content/uploads/2016/11/PB16_Dinner_Terry_Jones.jpg" …read more

From:: Real Estate News

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NAR Power Broker Roundtable: Meet Bill Brown, 2016 NAR President-Elect

By Susanne Dwyer

Introducing Bill Brown, 2016 President-Elect of the National Association of REALTORS®, in this month’s Power Broker Roundtable

Moderator:
Nicholas (Nick) D’Ambrosia, Liaison for Large Residential Firms Relations, NAR; Broker of Record, The Long & Foster Companies, Chantilly, Va.

Participant:
Bill Brown, 2016 National Association of Realtors® President-Elect; Founder, Investment Properties, Oakland, Calif.
Nick D’Ambrosia: As we wind down another notable year in real estate, it’s important to take stock of what we’ve accomplished. But it’s equally important to start planning for the year ahead. Bill Brown will help us usher in 2017 as he steps up to the role of NAR President. Bill, in your opinion, what are some of the biggest challenges facing brokers?

Bill Brown: Profitability and liability continue to challenge brokers in today’s market.

ND’A: How is NAR helping brokers address these challenges?

BB: Perhaps the most important way NAR helps brokers remain profitable centers on the work we do to protect and promote homeownership and property investment. NAR advocates policy initiatives that support a fundamentally sound and dynamic U.S. real estate market, thus creating opportunity for brokers and agents to prosper. The Realtor® Party’s Broker Involvement Program provides broker/owners with tools to rally their agents on critical legislative issues affecting our industry.

Regarding liability, NAR’s legal department works vigilantly to protect brokers’ and agents’ businesses. A recent example is our victory against patent abuse in a settlement with Data Distribution Technologies, a subsidiary of the patent enforcement firm General Patent Corporation.

ND’A: Where do the greatest growth opportunities lie for brokers?

BB: New and innovative technology centered on big data, predictive analytics, and cognitive computing present tremendous opportunities for brokers. However, the most successful brokers will not only embrace new technologies, but also maintain the human connection.

ND’A: How can brokers best adapt their firms to serve today’s consumers, particularly millennials?

BB: Today’s hyper-connected consumers, and millennials in particular, have a tremendous amount of information at their fingertips. Brokers must adjust their communication styles and deploy innovative technologies to meet the needs and style preferences of today’s consumer. Recruiting younger agents should be a priority for brokers. Young agents often provide innovative ideas and new perspectives.

It’s important to note that understanding what is important to the buyer still applies to millennials. Knowing which technologies are best for each situation is important to demonstrating knowledge. These new technologies are not for everyone, but for millennials, they contribute to the livability they look for in homes.

ND’A: What are some of the most important market trends brokers need to be aware of?

BB: National median existing-home prices continue to rise at a robust rate of roughly 5 percent per year. This increase rests on the fact that inventory levels are very low, so even though the economy continues to move forward, many would-be buyers have been hampered by an inability to find a home in their price range. Home builders have been trying to fill the gap, but inventory pressures and diminishing affordability will likely remain a concern.

For prospective homebuyers, the combination of rising home prices and escalating rents has put a squeeze …read more

From:: Real Estate News

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Hertz shares plummet 25% on weak third-quarter earnings

Shares of Hertz Global Holdings Inc. skidded in Monday’s extended session after the car rental company posted disappointing earnings. Hertz reported its third-quarter earnings fell to $42 million, or 49 cents a share, from $237 million, or $2.60 a share, a year earlier. On an adjusted basis, the company would have earned $1.58 a share. Revenue slipped 1% to $2.54 billion. Analysts surveyed by FactSet had forecast earnings of $2.73 a share on revenue of $2.59 billion. In the fourth quarter, Hertz expects adjusted earnings per share of 51 cents to 88 cents. Shares of Hertz fell 25% after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Lumber Liquidators names new CEO; Dennis R. Knowles formerly company’s COO

Lumber Liquidators Holdings Inc. said late Monday Chief Executive John Presley has resigned, effective Wednesday, and the company has named Dennis R. Knowles, Lumber Liquidators’ chief operating officer, Presley’s successor. Presley will resign from the company’s board of directors Dec. 15, and Knowles has been appointed to the board effective that date. Knowles joined the Toano, Va., company in March. Presley had been a director of the company since April 2006 and stepped up as CEO in November 2015 as part of a turnaround effort following the fallout from a “60 Minutes” report in March 2015 saying that Lumber Liquidators allegedly sold China-made wood flooring containing dangerous levels of cancer-causing formaldehyde.A federal ruling in June indicated that a full recall of some of the China-made flooring wasn’t necessary given that none of the tests found formaldehyde above the remediation guideline. Shares of Lumber Liquidators were flat in the extended session after ending the regular trading day down 0.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Dow industrials just booked best rally before Election Day in 84 years

It was a history-making rally for the Dow Jones Industrial Average, according to Dow Jones data. The Dow industrials rallied 2.1% to 18,259.60 on Monday, along with the S&P 500 index , the Nasdaq Composite Index , and the broader global market ahead of the U.S. presidential election. In particular, for the Dow it was the sharpest rally coming the day before a presidential election since 1932. At that point, the Dow soared 3.5% on Nov. 7 1932, before Franklin D. Roosevelt won the first of four presidential terms. The rally came after head of the Federal Bureau of Investigation, James Comey, announced Sunday that the FBI stands behind its prior decision not to recommend charges against Democratic presidential nominee Hillary Clinton, following newly found emails from her tenure as Secretary of State were reviewed. Stocks had been dealing with a nine-session decline amid uncertainty wrought by the Oct. 28 revelation that the bureau was looking at more emails, which raised fears that Republican candidate Donald Trump might win the election. A Trump victory is seen as fraught with uncertainty for stock-market investors.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Acadia Pharma’s sales come twice as much as expected

Shares of Acadia Pharmaceuticals Inc. shares rose more than 11% late Monday after the San Diego, Calif.-based company reported a loss in line with expectations and sales that were well above forecasts. The company reported a net loss of $71.6 million, or 61 cents a share, compared to a net loss of $38.9 million, or 39 cents a share, in the year-ago period. Sales rose to $5.27 billion in the first full quarter of full commercialization for the company’s drugs, from $39 million a year ago. Analysts polled by FactSet had expected a per-share loss of 60 cents on sales of $2.6 billion. The stock ended the regular trading day up 6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Kindred shares plunge on sizeable loss, plan to exit nursing facility business

Shares of Kindred Healthcare Inc. sank in Monday’s extended session after the healthcare company posted wider losses and announced its decision to exit the nursing facility business. Kindred reported its third-quarter loss widened to $685.6 million, or $7.89 a share, from a loss of $14.6 million, or 17 cents a share, a year ago. Kindred cited various items including impairment and restructuring charges for deeper losses. Revenue grew to $1.79 billion from $1.76 billion. The company also plans to exit the nursing facility business as part of its growth strategy. “This decision will reduce annual rent obligations by approximately $90 million and annual capital expenditures by approximately $30 million,” said Kindred in a statement. For 2016, the company projected revenue of $7.2 billion and earnings of 70 cents a share to 80 cents a share. Kindred shares plunged 18% after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Gap blames fire at distribution center for weak same-store sales

Gap Inc.’s same-store sales fell 1% in October, hurt by a fire at its distribution center in Fishkill, New York, the retailer said Monday. The clothing company also projected its third-quarter earnings per share in the range of 50 cents to 51 cents and adjusted EPS at 59 cents to 60 cents. Analysts surveyed by FactSet are projecting an average of 53 cents a share. Gap’s stock edged up 0.1% after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

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Depomed plummets after disappointing sales of painkillers

Depomed Inc. fell more than 12% in late trading Monday after a disappointing quarterly earnings report that showed weaker than expected sales for the company’s two biggest drugs. Depomed reported a net loss of $12.9 million, or 21 cents a share, on sales of $110.5 million; after adjustments for stock-based compensation and other factors, Depomed claimed profit of 28 cents a share. Analysts polled by FactSet expected Depomed to report adjusted profit of 35 cents a share on sales of $126.8 million. The shortfall came from weak sales of painkillers Nucynta and Gralise, which came in at $65.3 million and $20.6 million, well below projections from Depomed and analysts. “Although our third quarter revenues increased by 5% over the previous year’s quarter, they did not meet our expectations, as several factors, including a disconnect between prescription demand and wholesaler shipments, influenced net sales of the Nucynta franchise and Gralise,” Chief Executive Jim Schoeneck explained in Monday’s announcement. Depomed shares — which have been volatile all year due to an activist-investor campaign, acquisition attempt, a big court win and reports of a potential sale effort — fell to less than $20.50 in late trading, after closing with a 1% gain at $22.89.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News