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June 2021

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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June 2021
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Inside the real estate consolidation game plan

The industry is consolidating at an increasing clip, and the strategy by companies vying for the top of the future leaderboard is becoming clearer. This article outlines the game plan by looking into one of its newest player employing the strategy.
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[
June 2021
]

Don’t trust your gut when it comes to increasing diversity

A diverse team has numerous benefits – it supports creative solutions, innovation, increased retention, improved culture and better decision-making. This article provides insight into how to develop and implement a diversity-focused hiring plan.
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June 2021
]

The increasing importance of MLS technology interoperability

MLSs have long offered services provided by exclusive technology partners. This strategy has created some vulnerabilities for MLSs when they want to diversify offerings or help themselves and participants fully leverage derivative MLS data. This article explores the importance of MLS technology interoperability.
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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.

Institutional investors coming for real estate

  • Article available on Yahoo Finance
Invesco Real Estate has committed to investing up to $5 billion in single-family rental homes over the next three years, and represents an increased focus by institutional investors on residential real estate. Currently, 2 to 3 percent of the nation’s single-family rentals are owned by institutional investors versus half of the nation’s multifamily units. That gap could narrow, however. If institutional investors appreciably increase their single-family home market share, as all indicators show they might, the brokerage industry will have to adapt to accommodate the new sector. Their increasing presence also influences macro housing trends, which will affect homeownership, home demand and affordability – all key housing issues now.
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NAR membership at record high

  • Article available on Realtor Magazine
NAR membership soared to 1.48 million at the end of 2020, an all-time high and up from 1.4 million at the end of 2019. The surge in membership reflects a hot market and a surge in people looking for flexible work opportunities during a pandemic-disrupted year.
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IFunder Homeward raises $371M

  • Article available on TechCrunch
Homeward, which operates in Texas, Colorado and Georgia, helps streamlines moves for homeowners looking to buy a new home with iFunding, a twist on iBuying in which companies streamline transactions with alternative financing models. The startup purchases the next home homeowners want and then leases it to the homeowners until they sell the home they are moving from. At the same time, Homeward offers the homeowner a guaranteed base price for their previous home, which they list on the open market. The company charges a fee for this service and gives a credit to the client if they use the company’s mortgage. Realogy’s RealSure program, which operates in a similar fashion to Homeward, recently expanded to five additional markets, and Offerpad, another iFunder, has announced plans to go public.
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A new era for zipLogix and NAR

  • Article available on Inman
ZipLogix, the forms software provider that was founded and run by a California Association of Realtors subsidiary until 2019 when Lone Wolf Technologies acquired it, will see its Realtor association connection terminate at the end 2021. NAR, which began offering parts of the technology as a member benefit in 2015, has decided to no longer offer it to members after spending $62 million over six years to provide this technology to members. When NAR’s support ends later this year, forms and transaction software will now compete on equal footing in markets across the U.S., which will open up the forms and transaction management technology markets a bit wider.
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MLS Aligned acquires tech startup Agent Inbox

  • Article available on The Data Advocate
In a bold move a group pf MLS organizations have collectively through a new company, MLS Aligned, acquired the messaging and showing tool Agent Inbox . The group of five MLSs led is by Arizona Regional MLS with MLS Listings (Silicon Valley), UtahRealEstate.com (Utah), Metro MLS (Milwaukee, Wisconsin) and RMLS (Oregon). The acquisition indicates an effort by MLSs to own their own technologies following Zillow Group’s recent acquisition of the popular MLS showing service ShowingTime.
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