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.”
September 2022
August 2022
July 2022
June 2022
May 2022
April 2022
March 2022
February 2022
January 2022
December 2021
November 2021
October 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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September 2022
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With new legislation impacting targeted online marketing, brokerages and agents will need to develop new strategies to bring in business. Fortunately, many real estate practitioners will need to leverage something they already have — contacts.
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September 2022
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Talented employees are the bedrock of strong, nimble, growing real estate companies. This chapter provides a detailed overview of where the real estate brokerage talent market is now, where it’s headed and how to best navigate it.
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September 2022
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Watch Stefan Swanepoel and Jack Miller discuss some of the biggest trends shaping the industry and provide a preview of the 2023 Swanepoel Trends Report.
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August 2022
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A new breed of digital payment apps is helping brokerages offer and facilitate digital payments to address the many needs they have for transferring money. These apps are streamlining and simplifying this process for the companies, their agents and consumers. This article provides more details on the trend and lists three notable companies in the space.
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August 2022
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As the market changes, the valuations and the ways investors evaluate companies do too. This article provides an overview of the evolving real estate tech mergers and acquisitions market and some insights into the increasing focus of valuations.
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August 2022
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The nation’s two largest MLSs, CRMLS and Bright MLS, have announced a new joint venture, REdistribute, which will lead an MLS data monetization effort. T3 Sixty recorded a video interview with CRMLS CEO Art Carter about the effort. Watch it here.
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July 2022
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Real estate leaders can find success, uncover new opportunities and even get stronger in a more “challenging” market, with smart, careful adjustments and business discipline. This article shares 12 approaches leaders can apply to successfully adapt.
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July 2022
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In this video, Michael Phelan, T3 Sixty vice president of marketing and technology, and Paul Hagey, T3 Sixty editor-in-chief, discuss the brokerage technology challenge that the recent RE/MAX announcement illustrates.
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July 2022
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Human resources represent real estate brokerage and teams’ most powerful asset. This article outlines how organizations can enhance their talent by leveraging the power of the network effect to expand and diversify their teams.
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 available on Inman
Southwest Florida-based brokerage John R. Wood Properties, the nation’s 57th largest brokerage by 2021 sales volume, has become an affiliate of Christie’s International Real Estate. Since At World Properties – the parent company of @properties – acquired the Christie’s brand in December 2021, the company has welcomed notable new brokerage affiliates including Christie’s International Real Estate Sereno in the San Francisco Bay Area.
- Article available on Real Trends
Tulsa, Oklahoma-based Coldwell Banker Select, the nation’s 14th largest Coldwell Banker affiliate by 2021 sales volume, has acquired Wichita Kansas- based Coldwell Banker Plaza Real Estate. Combined, the two firms’ sales would break the firm into one of the 10 largest U.S. affiliates of the brand, according to the 2022 Real Estate Almanac.
- Article available on Inman
A new class-action lawsuit filed in federal court accuses Zillow of illegally monitoring visitor actions on its website. The plaintiffs accuse Zillow of using code to record user activity, alleging that that violates a federal wiretapping law.
- Article available on Bloomberg
After losing $101 million in the second quarter 2022, Compass continued its cost-cutting by parting ways with its chief technology officer Joseph Sirosh, a highly touted addition to the team when he came to the company in late 2018. Compass has spent a reported $900 million on its technology platform. The company, which became the largest brokerage in America in 2022, is reeling at the moment as it looks to solidify its operations and work toward profitability.
- Article available on TechCrunch
Reali, a real estate alternative finance startup, which provided buyers with cash-backed offers and offered sellers who were also buying a home a trade-in financing service, will shutter its doors by the end of the year. The company raised a $100 million Series B funding round in August 2021. Companies emerged on the scene in recent years with tons of funding and tried new things, but, ultimately, some must fall by the wayside as competition heats up in the real estate alternative finance category.
- Article available on Inman
As part of a class-action lawsuit challenging the industry’s commission structure, the Nosalek case, filed in December 2020 that has garnered less attention than the Moehrl and Sizter/Burnett cases, Anywhere Real Estate is fighting the request for it turn over all documents nationally it has related to the NAR’s “buyer broker commission rule.” A Massachusetts federal court will hear oral arguments September 26 to decide the issue. The suit, which names broker-owned MLSPIN, RE/MAX, Keller Williams and HomeServices of America and Anywhere Real Estate, as defendants, continues to run as the other suits do, too. Many in the industry are keeping a watchful eye on these suits, along with the ongoing US Department of Justice review of NAR commission and other policies.
- Article available on Bright MLS
In an analysis of its own MLS data, Bright MLS, the second largest MLS in the nation, found that properties marketed and sold through the MLS fetched a median premium of 13.0 percent compared with homes that sold without the MLS. In the study, which measured homes sold in MLS’s Mid-Atlantic footprint between January 2019 through March 2022, Bright MLS found that 83.4 percent of all sales in its market came through the MLS. The study also included an analysis of office exclusives. Of the 5,599 listings marketed as office exclusives between April 2021 and December 2021, 63.0 percent eventually were sold on the MLS. In addition, selling on the MLS, the study found, brought a 22.2 percent premium compared to office exclusives not sold on the MLS.
- Article available on Redfin
In the four weeks through August 28, the average home in the U.S. sold below its list price at 99.8 percent of list. This ends a 16-month run of the average home selling over list price. This metric provided by Redfin provides another example that spotlights a changing market.
- Article available on PBS News Hour
In a video interview, U.S. Secretary of Housing and Urban Development Marcia Fudge said that redlining persists in America, especially in lower-income communities where lending is more constricted and appraisals come in lower. The Black homeownership rate is as low as it has been in five decades. The redlining that helped create this scenario continues to impact these communities today. The industry has made an increased investment in diversity, equity, and inclusion but clearly more needs to be done.
- Article available on US Bureau of Labor Statistics
The consumer price index revealed that prices increased 8.3 percent in August from the previous 12 months, according to the Bureau of Labor Statistics. This jump sustains the largest year-over-year increase in the last two decades for prices. Pricing has become a challenge for agents across the nation; in many markets price reductions are common. In a shifting market like this, brokerages and agents should carefully forecast their local markets with the best data available to best serve their buyer and seller clients.