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October 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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October 2022
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VIDEO: Exploring New MLS Models

Hundreds of smaller MLSs remain active across the U.S., and many organizations wonder how they will compete or remain valuable in an ever-changing and consolidating landscape. In this video, T3 Sixty senior vice president of organized real estate Clint Skutchan hosts a conversation with several MLS leaders.
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October 2022
]

The T3 Brokerage Technology Profile

To accurately and effectively evaluate their technology strategy and approach, brokerages need to understand how technology fits their goals, vision, branding and more. This is why T3 Sixty developed the T3 Brokerage Technology Profile, outlined in this article.
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October 2022
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Analyzing homeownership rates and their demographic characteristics

Homeownership is a key pillar of American life, and of the residential real estate brokerage industry. This article provides an overview of some of the latest data related to US homeownership and how rates vary by certain demographic characteristics.
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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.

Perchwell gets another MLS investor, user

  • Article available on Inman
Perchwell, the MLS tech provider, has signed REcolorado, Colorado’s largest MLS, as a customer and as an equity investor. Perchwell received venture funding from CRMLS earlier in 2022. It is rolling out its platform to CRMLS in the first part of 2023 and with CincyMLS and REcolorado in 2023. MLSs are increasingly looking to own their technology future by operating key technology themselves or by taking equity stakes in technology as CRMLS and REcolorado have done with Perchwell.
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CEOs bracing for downturn

  • Article available on NPR
The head of JPMorgan Chase & Co., Jamie Dimon, shared in early October he believes the US is heading for a recession. He’s not alone. A recent survey of CEOs found that the majority are preparing for a downturn. Brokerage leaders have been sensing a market shift for months as larger, macro-economic developments, like the US Federal Reserve’s interest rate hikes, impact all parts of the US economy. Time will tell how this unfolds, but caution is the watchword for now.
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Multifamily construction reaching a half-century high in 2022

  • Article available on Multi-Housing News
The US is on pace to construct over 400,000 new multifamily units in 2022, the most built in any year since 1972. New York, Dallas, Miami, Austin, Texas, and Houston, are among the cities with the most multifamily construction activity through September. Multifamily, of course, reflects ongoing rental demand, which ties into larger trends within the residential real estate brokerage industry, including the growing presence of single-family investors. Learn more about how these connect in the chapter “Analyzing the Increasing Presence of Single-Family Home Investors,” in the upcoming 2023 Swanepoel Trends Report.
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Court orders Anywhere Real Estate to hand over commission docs

  • Article available on Inman
A court hearing the Nosalek commission lawsuit has ordered Anywhere Real Estate to hand over documents related to its nationwide implementation of NAR’s compensation rule. This latest development shows the scope and potential wide-ranging impact this and other investigations into real estate’s compensation structure could have. Read the chapter “Evaluating Real Estate’s Compensation Structure and Its Future,” in the upcoming 2023 Swanepoel Trends Report.
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Agent-matching auction marketplace startup raises $15M

  • Article available on NewsDirect
A startup looking to apply a twist on the classic agent-matching vision for tech companies has raised $15 million. BidMyListing allows homesellers to field “bids” from listing agents looking to win their business. The bids from listing agents can include offers of cash to sellers, commission details, listing term, details on why the potential client should work with them, and more. Sellers then choose from the agents that bid to represent them in their sale.
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