[Warning: this is a very long post, even by my standards. I encourage you to take frequent breaks, brew a fresh pot of coffee, and maybe re-read sections if they interest you.] Last week, I broke the news that Realogy was going to shut down Climb, the San Francisco-based “youth culture” brokerage, and consolidate it … Read more
Earlier this year, Sunny and I made her third (my second) move across this great country of ours in three years, landing in Las Vegas. I have to say, so far, we’re quite in love with this city. Most of you only know Las Vegas from The Strip… which is unfortunate. It’s quite like judging … Read more
Earnings Week content keeps rolling on! It’s time we took a look at Realogy, the bellwether for health of traditional real estate brokerage. I wish I could report some joyful news on that front, but alas, I just can’t. Realogy is still profitable, generating good free cash flows, and still making some moves. It’s just … Read more
I’m on the road, so blogging may be light. But I thought the announcement of the new RealSure Sell and RealSure Mortgage programs deserved some brief initial commentary. I didn’t feel like waiting for Friday’s Quick Takes and then writing up a giant post on this. Inman News has further coverage of the announcement, but … Read more
The battle between Realogy and Compass took a strange turn in recent days, when Compass claimed that they rejected a marriage offer from Realogy according to The Real Deal: With his back against the mats, Realogy CEO Ryan Schneider considered selling the brokerage to its chief rival: Compass. In a statement Friday, the SoftBank-backed brokerage … Read more
Realogy reported its Q2 results last week, and on balance, it was a very nice quarter. The highlights of the presentation are improved profitability, strong cash flows, paying down debt, and a narrative that the broken fundamentals at the NRT are changing. Or trending like it’s changing. Maybe it’s more of a looking like it’s … Read more
So, I’m about to head off to another day at Inman Connect so this will have to be very brief and very shallow. I’ll have to take some time to think more about the announcement that Realogy and Amazon have partnered on Turnkey. At first glance, this seems like a pretty straightforward purchase of leads … Read more
In my final Red Dot, where I looked at the full year 2018 earnings results for the public companies in real estate, I titled the section on Realogy as “The Deathwatch Gets Serious.” My concerns then were centered on not just the numbers, which were historically bad, but on the strategy. I wrote then that … Read more
It’s been over a week since I thawed out from the polar vortex that was Inman Connect NYC. I realize that people in Chicago and elsewhere in the Midwest would have loved mere 10 below zero temperatures, but for this now-southern boy, that week came with a religious awakening: hell won’t be hot, it’ll be … Read more