Pushing for diversity in real estate, iBuying in Covid + a smart tech plan
In addition to the articles, here are a few items we are reading from across the internet.
All signs point to a vibrant third quarter for the real estate industry. Prices have held steady, even rising in many areas, and demand remains strong. A continued lack of supply remains the only governor on just how large the real estate bounce-back will be.
Covid-19 changed many homebuyer behaviors. As the pandemic recovery deepens, self-tours will likely be among the trends that remain, given the convenience they provide and the technology now available to offer them securely.
In the wake of the national conversation around race as America grapples with George Floyd's tragic death, the residential real estate brokerage must dismantle systemic racism. It is such a widely spread, deeply rooted reality, that multiple solutions will be necessary. Only devoted commitment over long periods of time will bring about real impact. This will be complicated. This will be hard. This will be expensive. But we must do it. As Rob says, "Show me the money."
Real estate is rife with talk about building platforms. Upon closer look, companies present many variations for how their platforms will operate. As brokerages aim to win consumers and support their agents, they walk a tight rope in developing or using platforms that differentiate them in the eyes of consumers and make their independent contractor agents look good. This is a solid read.
Before Covid-19, demand of single-family homes already greatly outstripped supply, and at this milestone of the pandemic, it appears that imbalance has only deepened. Lifestyles have shifted. The desire move to less populous areas, have a dedicated place to work at home and nearby open spaces and privacy, have made a single-family homes more popular. Time will tell whether a large enough segment of people with this sentiment will cause a meaningful industry shift and whether these desires endures after the pandemic. So many people forget so quickly.
Building the platform upon which real estate transactions progress has captivated the industry and many real estate companies are in the process of building a platform. Spruce may soon have an off-the-shelf platform available for other that would prefer the "buy it" option.
Real estate also faces an increased demand for limited human exposure in work and transactions. Self-tour technology provides one example of a future that involves less human interaction in real estate.
With its virtual, low-cost model, eXp Realty continues its stunning growth. If it continues growth at this rate, it could soon become one of the nation's top brokerages.
Among a raft of other residential real estate companies bolstering their cash in light of the pandemic, Realogy says it will use the financing to pay down outstanding debt.
It's clear that as the effects of the Covid-19 pandemic begin to wane, real estate and its leaders are rearing to return at full steam. Chris and Wong illustrate this energy and optimism as do many of the other leaders T3 Sixty has interviewed and spoken with in recent weeks.
Enabling Intelligent Change.
