This is one of the first announcements by NAR as part of its commitment to improve diversity in the residential real estate brokerage industry. More expected in the not-too-distant future.
SPACs, decoupling organized real estate + successful tech implementations
In addition to the articles, here are a few items we are reading from across the internet.
This is one of the first announcements by NAR as part of its commitment to improve diversity in the residential real estate brokerage industry. More expected in the not-too-distant future.
The hot third quarter in real estate helped buoy Zillow’s performance, as did a slow ramp-up of its cash-intensive iBuying program Zillow Offers.
Aided by a strong performance in its ancillary business, as well as a blazing hot third quarter across the board in real estate, Realogy’s restructuring efforts seem to be paying off. See the detailed Realogy analysis in the “2021 Swanepoel Trends Report” out December 7. Order a copy here.
A strong real estate market fuels opportunities for all brokerages with strong leadership and an appetite for growth. We expect to see more expansion and consolidation efforts in the months and year to come.
First American Financial spun off its technology and information division in 2010, creating CoreLogic. Listed on the New York Stock Exchange under the CLGX ticker, CoreLogic is a multibillion dollar financial, property, and consumer information, analytics, and business intelligence company. Matrix, its MLS software, is the most-used MLS platform in the U.S. with 850,000 users. With continued consolidation, class-action lawsuits and the Clear Cooperation Policy, the MLS industry itself is also undergoing a reengineering.
Startups and incumbents have been making an all-out effort to streamline the transaction in recent years. One of the chief hurdles involves stitching together the processes ancillary to the transaction – such as mortgage, title and insurance -- which has spurred a bunch of innovation, including iBuyers and startups like Tomo and larger players like Zillow Group and Opendoor. A true digitized transaction, from start to finish, is still years away, but the hunt is on in earnest now.
2020 has presented many challenges, but a renewed focus on increasing diversity is one bright spot. We expect to see similar moves by other companies in the real estate space, including T3 Sixty’s own Real Estate Apprentice, which aims to help increase diversity in the real estate profession.
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