Rob Hahn 
This was a fun one, for sure, as Errol Samuelson, Chief Industry Development Officer of Zillow, is one of the smartest guys in the industry. He’s also been around the block a few times, and in very senior roles where real estate and technology intersect. He’s also quite reticent about appearing on things like podcasts, … Read more
Ben Thompson at Stratechery is a great read, and he really does get my gears turning. Today’s email/post is particularly interesting as it raises some questions as to what a platform actually is and what it might look like in real estate going forward. Consider this a “big think” post in which I try to … Read more
I hold it true, whate’er befall; I feel it, when I sorrow most; ‘Tis better to have loved and lost Than never to have loved at all. – Alfred, Lord Tennyson, “In Memoriam” In my writeup of Redfin’s Q1 results, I wondered what happened to Redfin’s North Star: It used to be very clear: the … Read more
I’ve been busy with earnings season, which provides a unique peek under the hood of the five public companies (well, four, since EXPI doesn’t do earnings calls) and what they’re thinking about the future. But I saw something on the Book of Faces that made me think it’s a topic worth considering. It’s also a … Read more
RE/MAX came into 2020 on a big upswing. Q4 was a good quarter; it was a very good quarter, in fact. And as we have already seen from Realogy, Redfin and Zillow, Q1 was a record-breaking type of quarter until COVID hit. So it’s a bit surprising that RE/MAX’s numbers came in so soft. I’m … Read more
As threatened, Greg and I recorded a special live version of Industry Relations, inviting everyone to join in on a free-flowing conversation about what’s next for real estate. It was… an interesting experience, and one unlikely to be repeated anytime soon. Turns out, “call-in radio” style might not be our strong suit. 🙂 Nonetheless, we … Read more
According to its own creation mythology, Redfin was born in the dark as it was founded just before the Bubble burst. If any company knows how to navigate panic, turmoil, and a terrible housing market, it would be Redfin. They like to call themselves “the rabid squirrel.” The whole self-identity of Redfin is of a … Read more
One of my favorite moments in recent earnings calls came when Glenn Kelman, CEO of Redfin, used the phrase “delayed blast fireball” in an actual call. I ended up naming my writeup that, because as a former AD&D Dungeon Master, I got a real kick out of just how legit a nerd Kelman probably is. … Read more
Realogy was one of the first public companies in residential real estate to report Q1 earnings… and it was more or less what was expected: Q1 came in strong, even with the crash towards the end of the quarter with COVID. This was always going to be the case for Realogy and everybody else in … Read more