In the aftermath of a disappointing Q3, I wrote: One of my biggest takeaways from this earnings call is how much of the positive spin was put on October. For example, Karri Callahan mentions seeing some “positive traction” on agent count in October, contrasting with last October when RE/MAX lost hundreds of agents. Or there’s … Read more
I speak again with John Campbell, Managing Director of Equity Research at Stephens, Inc., a powerhouse regional investment bank and private equity firm based in Little Rock. He is one of the finest analysts of the small corner of the public markets that real estate represents and I have consistently found his coverage to be … Read more
In the Q3/2019 writeup, I wrote that Zillow is not experimenting, but trying to pivot with great delicacy: My take on Q3 is that Zillow is in the midst of a BCG 2×2 Matrix exercise and a delicate point (in a good way) in the transition from Zillow 1.0 to Zillow 2.0. What they’re doing … Read more
One of my favorite people in the industry, Joe Rand, a broker-owner from New York, a corporate lawyer by training, and an amazing singer has penned an article for Inman titled, “Be resilient in the face of disruption: My big takeaway from Inman Connect New York.” It’s worth a read, so go do that. Given … Read more
It’s tough to deliver such a fantastic quarter as Redfin did in Q4 of 2019, and for the full year of 2019. I mean, they just beat ass all over the place. Revenues, profits, traffic, productivity — Redfin just about killed it across the board. The one exception comes from its iBuyer business, RedfinNow. And … Read more
The first interview of the New Year is with Nick Taylor, VP of Growth at Modus.
Happy Monday, everybody! So if you haven’t seen it yet, Inman ran a big article last Friday talking about a statement by Bryan Greene, NAR’s director of Fair Housing policy: “We’ve seen homeownership rates among racial groups steadily rise, but I think many of us would have expected rates to have risen more,” Greene added. … Read more
It’s good to be home and be able to write and think out loud on issues that might impact the industry. It’s doubly good to be able to do it with the best audience out of the most informed readership in the industry. I’m actually a bit surprised that others who are far more tech-focused … Read more
As you know, I’m a huge bull on the Market Maker iBuyer concept. You could call me the Cretan Bull on that idea, since I’m on record as suggesting it will be 60% of transactions by 2024. (Sure to be wrong, but… I win even if I lose since I get to hang out with … Read more