I realize this is almost two weeks after Realogy reported, but… between international travel and my computer giving up the ghost, it’s been a bit of a challenge to write this. It likely would have been a challenge anyhow, because of how much I like Realogy (I have written often about my biases). Q4 was … Read more
Since it’s been a few days since my VIP subscribers got to check out my analysis of Zillow’s Q4 earnings, I wanted to have more of a public open discussion on two incredibly important things from the Q4 earnings. Rich Barton, Zillow’s CEO, mentioned the Bob Seger song, “Turn the Page.” He was talking about … Read more
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
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
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