T3 Insight
Executive brief: articles and latest news
T3 Sixty’s monthly executive brief providing analysis on the most important trends and developments as well as a quick digest of the most notable news in the industry.
The industry has so many stories, blogs, press releases and announcements each month that we all struggle to digest the information and distinguish between truly meaningful developments and hype or advertisement.
With T3 Insight, T3 Sixty analyzes developing trends, provides new brokerage industry best practices, and creates new perspectives on recent developments in technology, leadership, and organized real estate, in a monthly executive brief. It helps executives understand how the industry is changing in real time.
Each monthly executive brief also includes a composite of latest news and current articles under the title “What We’re Reading.”
May 2022
April 2022
March 2022
February 2022
January 2022
December 2021
November 2021
October 2021
September 2021
August 2021
July 2021
June 2021
Have a question? Connect with our executive editor, Paul Hagey.
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Articles
Individual deep dive topics that T3 Sixty explores as part of the monthly executive brief
The articles listed here are an alternative view of the composite monthly brief. This offers an easy way to view recent, chronological, articles.
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May 2022
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Real estate leaders at the 2022 T3 Summit explored some compelling themes and trends the industry and brokerages currently face. This article provides a brief overview along with some highlights of trends discussed at the event.
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May 2022
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In T3 Sixty’s work with brokers and agents, three technology categories have become apparent that brokerages find they can significantly improve the efficiency and efficacy of their and their agents’ efforts. This article highlights these categories.
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May 2022
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The Mega 1000 reveals that the nation’s largest brokerages as a group have gained market share during the past several years, but the gains have been greatest among the very largest in this elite group. This article presents some of the numbers behind this market share consolidation.
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April 2022
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Well-operated real estate teams have long achieved profit margins that surpass brokerages. A new breed of brokerage company is looking to scale this opportunity by partnering with talented agent entrepreneurs and support them with comprehensive services and guidance into profitable real estate businesses. This article explores this new model.
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April 2022
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Hiring, keeping and retaining talent is perhaps the most important activity businesses can do to thrive and grow. People are the engine that animate all success. This article provides an overview of how to design and implement a comprehensive talent strategy.
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April 2022
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With the maturing of industry technology and the increasing advantage access to vast amounts of capital provides. The 2022 Corporations report shows one impact of this: the degree to which the big companies are outpacing even their large peers.
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March 2022
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Understand the latest leading real estate technology in a conversation with T3 Sixty editor-in-chief Paul Hagey, and T3 Sixty technology division executives Travis Saxton and Jonathan Peterson as they explore the trends and takeaways of the 2022 Tech 500, which published this week!
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March 2022
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Technology has promised to make things simpler and more efficient for a long time. In this article, T3 Sixty identifies three proven habits brokers who successfully utilize technology adhere to.
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March 2022
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Real estate tech acquisitions have increased each year in the last three years and 2022 is on pace to again surpass the number of acquisitions the year before. This article chronicles the recent acquisitions and some of the reasons why it is happening now.
What We’re Reading
Notable industry articles curated with T3 Sixty’s perspective
Every month T3 gathers most important news across all companies, brands and regions and created an executive summary for quick and easy review.
- Article avaiable on Inman
NAR raised its special assessment fee for members from $35 to $45 for 2023. The special assessment, which began in 1999, goes to fund NAR’s consumer ad campaign and was last increased in 2009. NAR expects the assessment to bring in $66.15 million. The NAR board voted to keep the association’s base annual dues at $150.
- Article avaiable on PR Newswire
The nation’s largest real estate holding company, Realogy Holdings Corp., which includes the brokerage, franchise and ancillary business wings, is rebranding to Anywhere Real Estate with implementation occurring by end of the second quarter. Realogy CEO Ryan Schneider said the rebrand reflects the company’s consumer-focused, agent-led approach, and accompanied the expression of bold vision for Realogy at the company’s May 12 special investor presentation.
- Article avaiable on New York Post
The Canadian Real Estate Association reported that the average price of Canadian homes stood at $646,809, nearly twice the U.S. median home price in March of $375,000. Both Canadian and U.S. average home prices have jumped approximately 30 percent from 2020. Inflation, a yearslong supply-demand imbalance and low interest rates have fueled high price appreciation over the last several years. With recent mortgage rate increases, the market is already shifting.
- Article avaiable on S&P Case-Schiller
Home prices jumped 19.8 percent in February from the year before, according to the S&P CoreLogic Case-Shiller National Home Price Index. That increase is the third-highest in the index’s 35-year history. With interest rates rising, we may be approaching a peak in home price appreciation.
- Article avaiable on The New York Times
The New York Times chronicles two recent efforts by smaller developers in New York state to bypass local historic preservation commissions, which, in many areas, serve as a key time and cost impediment to new construction. As the 2022 Swanepoel Trends Report outlined, new construction remains one of the key relief valves to creating a more balanced market and local regulations, like those offered by historic preservation commissions, add costs and delays to these projects. This article provides an example of how these issues are being navigated on the ground.
- Article avaiable on Inman
A federal lawsuit that challenges the Buyer Broker Commission Rule – in which NAR MLS rules require listing brokers to offer compensation to buyer brokers – has been certified as class-action by a judge. Defendants include NAR, Realogy, Keller Williams Realty and HomeServices and America. Brought in 2019, the suit affects Missouri homes sold through four MLSs from April 29, 2014 through the present. The four rules at issue include: • NAR’s so-called Buyer Broker Commission Rule, noted above. • NAR’s Code of Ethics that requires Realtors to offer compensation to cooperating Realtors • NAR’s statue that prohibits buyer agents negotiating commissions when making an offer • NAR’s statute that prohibits buyer agents negotiating commissions after an offer is made. Another, larger federal lawsuit in Illinois, challenging some of the same key items above is still active as well, and could become class-action, too. This outstanding suit, the certification, along with continued U.S. Department of Justice and U.S. Federal Trade Commission scrutiny, suggest the commission protocol the industry has followed for decades, in which sellers pay both sides of the commission, may change in the near future.
- Article avaiable on Bloomberg
Black Knight, a public software company that provides popular MLS software Paragon, is in the process of being acquired for $13.1 billion. The buyer, Intercontinental Exchange Inc., the owner of the New York Stock Exchanges, purchased a similar mortgage software provider Ellie Mae in 2020 for $11 billion. Real estate technology and data is becoming bigger business. This acquisition represents more consolidation and the push for economies of scale and new opportunities it opens up.
- Article avaiable on Inman
Frederick Townes, former chief operating officer of real estate marketing platform Placester, has been named CEO of Remine, the real estate software provider that a consortium of four MLSs banded together to purchase in late 2021. Remine represents an increasing effort by MLSs to take their tech needs and future into their own hands. Read our related T3 Insight article from February, “With deepening collaborations, MSLs embark on new era,” here.
- Article avaiable on NBC News
Some homeowners are beginning to push back on bulk investor-owned homes in their communities based on an experience of a lack of upkeep and lax tenant screening. Homeownership breeds many benefits to communities – it encourages more ownership of local areas, greater care of homes themselves, brings equity and wealth to families. Investors who own large portfolios of single-family homes can hamper some of these benefits.
- Article avaiable on Mortgage Bankers Association
Mortgage rates on 30-year fixed-rate mortgages rose to above 5.3 percent in late April, their highest level in over decade, according to a recent Mortgage Bankers Association survey. Rising rates are having an effect on the real estate market in locations throughout the U.S., cooling a bit of the long-standing buyer frenzy and moving the long-standing supply-demand imbalance to something more balanced.