T3 Insight

Teams + profit, solving hiring pain points + building a strong budget

Articles in this Edition

In this edition of T3 Insight, T3 Sixty's latest monthly analysis of the residential real estate brokerage industry includes articles on Teams + profit, solving hiring pain points + building a strong budget. Take a deep dive below.

Released July 23, 2020

Inside the profitable team-structured brokerage business model

by: Paul Hagey

The 4 biggest hiring pain points and how to overcome them

by: Kelly White

6 tips to build a strong budget

by: Jonathan Peterson

What We're Reading

In addition to the articles, here are a few items we are reading from across the internet.

Prices hitting ceilings, declining in some metros

Attom's stats indicate that the number of homes sales nationwide took a nosedive as pandemic-related social distancing and soaring unemployment rates cut into the quantity of home seekers willing or able to venture into the housing market. Covid-19, of course, introduced uncertainty, and uncertainty is bad for real estate. So far, the real estate market has held up surprisingly well. We are excited about that, but 2020 is a complex year, and with a pandemic, protests, a volatile stock market and a presidential election, anything can still happen.

Attom Data Solutions

Top 12 Most Valuable U.S. Cities for Real Estate

This is simply some fun stats to digest.

Think Advisor

How discriminatory lending practices hampered black homeownership

The discrimination in residential real estate, and in the mortgage industry, is something we all must strive to correct. A more diverse industry is better for us all.

Business Insider

An analysis of redlining’s impact on black homeownership

The difference in homeownership rates and the segregation that resulted from redlining has created a legacy the industry, and society as a whole, must work to reform.

Redfin Blog

Diversity in real estate

One of the big takeaways is that 1.5 million black individuals are already preapproved for a mortgage and ready to buy. The real estate industry can help society and itself by focusing on better serving black homebuyers.

Fireside Chat

Mortgage rates hit record low

Despite the complexities Covid-19 and its attendant stay-at-home orders introduced, the real estate market is still healthy; with mortgage rates at 3 percent, financing has not been this affordable in most people's lifetime. Those with jobs who can afford the monthly repayment amount they decide upon, buying a home now stands as an extremely financially prudent move.

Freddie Mac

KW expands Keller Offers beyond Offerpad

Before this announcement, Offerpad introduced an in-house brokerage model, which would make it a competitor with Keller Williams Realty agents who presented Offerpad offers to their clients. This change represents just one way the iBuyer model continues to rapidly evolve. We expect the model to evolve in significant ways before it matures: it looking more like a brokerage is just one.

HousingWire

Ojo Labs raises $62.5M, acquires Movoto

With 350,000 daily visitors to its website, online real estate brokerage Movoto gives Ojo a valuable, popular website to operate. The acquisition follows a growing trend of companies working to fuse the once-disparate elements of the real estate lead and transaction into one platform. Real estate brokerage, portal and technology are quickly converging to one thing. This technology company will now also have real estate brokerages offices. Does that matter? What does (could or should) a brokerage look like in the future? There is little doubt that companies such as Zillow Group, Compass, eXp Realty, Redfin, OJO Labs and many others are exploring this opportunity.

Ojo Labs