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April 2022

T3 Insight Monthly Executive Brief

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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. Here are this month’s articles.

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April 2022
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The rise of the real estate business operating system

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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How the growth of real estate’s largest companies outpaces others

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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April 2022
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Building the talent strategy for future business success

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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In addition to the three deep-dive articles above, T3 Sixty has, in addition, identified a collection of noteworthy articles from various news sources. Here are those honorable mentions.

Another example of the inflamed market

  • Article available on The New York Times
With interest rates low, and some urbanites feeling the squeeze in their expensive rentals, some chose to purchase second homes in nearby rural, much more affordable locations to use as getaways – even while remaining renters of their primary home. No doubt, real estate agents have countless stories from the wild market of the last two years that tell just how overheated homebuyer demand had gotten. This trend chronicled by the New York Times reveals one of the many that have played out in the last few years, pushing home prices to all-time highs and inventory to record lows.
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Canada banning foreign homebuyers for 2 years

  • Article available on April 2022
In an effort to tame a runaway housing market, Canada is banning foreigners (students, foreign workers or foreigners who are permanent residents) from buying homes in the country for two years. Canadian home prices have risen by over 50 percent in the last two years, which is spurting the move. The Canadian government is also looking to address the high demand by streamlining new-home permitting and to allow under-40 potential homebuyers to save for down payments tax-free in a new financial vehicle. The Canadian Real Estate Association, for its part, is looking to change the practice of buyers who make offers not seeing the offers of other buyers by publishing offers on listings in real time on its listing website realtor.ca. These are interesting moves for a government to take to address housing shortage and affordability issues running rampant.
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Mortgage rates surpass 5%

  • Article available on NPR
Rates on 30-year fixed-rate mortgages hit 5.05 percent in early April, crossing the 5 percent threshold months, or even years, ahead of some experts’ expectations of rate jumps this year. The U.S. Federal Reserve has been raising rates in an effort curb inflation. Agents in some markets are reporting buyers shifting to a more conservative tack when offering on houses – practicing more price discipline and not going over asking price as often. This could be the first move to the market becoming more balanced.
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MLS adopts new tech

  • Article available on Zillow
A Zillow study found that in 25 of 38 major metros, home value growth outpaced median salaries. In 11 of the metros analyzed, the average home value rose by over $100,000. San Jose led the way with an average home in the city gaining a value of $229,277 in 2021. Overall, the Zillow study shows that the average U.S. home saw an appreciation of $52,667. Real estate been a sustaining economic boon for many Americans over the difficult couple of last years. Homeowners and sellers have seen big gains. With interest rates rising, increases of this size are unlikely in the foreseeable future.
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Existing-home sales tick downward in February

  • Article available on NAR
2022 is starting out on the same low-inventory track it has been on over the last several years with the number of existing-home sales dropping in February from the month before and from a year ago. With increasing interest rates and price increases, homebuyer challenges rise.
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