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
It’s been a minute or two since I posted; blame the mundane annoyances of moving. Yes, I’m one of those people who bought a house during the pandemic and managed to move, despite all of the problems with vendors and the like thanks to government limits. I’ve also been very busy with projects and have … Read more
Since my last quick take on this, I have had more time to investigate, research, and talk to a wide variety of people from the real estate and financial worlds. I am more convinced than ever that iBuyer will return with a roar when this current shutdown is over, and why people in the real … Read more
Was just sent this article on The Information by a reader, which says that Opendoor has laid off more than 600 people today: Home-buying startup Opendoor laid off more than 600 employees Wednesday, one of the deepest cuts from a private tech firm since the coronavirus outbreak sent the economy into a tailspin. The layoffs … Read more
Given my somewhat unique position, I am often amused by the gap between the world of real estate and the world of finance as it comes to news that affects both. A prime example comes to us from the announcement that Redfin raised $110 million in equity funding from Durable Capital Partners. On social media, … Read more
In this episode, I speak to entrepreneur and longtime REALTOR from Toronto, Canada, Mark McLean about an innovative co-equity concept he’s been working on. It’s so interesting that Mark was a high-level executive and successful broker and agent for 30 years, but jumped into a brand new idea. Who says you can’t teach an old … Read more
I’ve been very, very busy the last few days conducting in-depth interviews with some of the top brokers and agents in the real estate industry. So writing has been nonexistent. Coming up for a bit of air today, I thought I’d post something for the VIP audience that isn’t really getting talked about, but that … Read more
I got an email this morning from Mike Delprete about Redfin and Opendoor “pausing” buying activity due to the COVID-19 situation: By temporarily pausing the purchase of homes, Opendoor has shut off its only source of revenue; there’s no iBuying without buying. The effect is akin to an airliner losing both engines while in flight. … Read more
In Part 1, I looked at the possible aftermath for real estate brokerages in the wake of the current crisis with COVID-19. In this part, let’s think about how organized real estate might be impacted. Since I laid out the possible scenarios in Part 1, if you need a refresher, please go refer to those … Read more