T3 Sixty

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June 2020

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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.

High demand, low supply, push home prices higher as Coronavirus lockdown loosens

(Read the Story)
  • From: The New York Times
  • Summary
The median sale price for an existing home measured $287,000 in April, 7 percent more than in April 2019. As the market warms up after the coronavirus freeze, buyers are back with a frenzy, but many face challenges securing financing as mortgage providers have increased their standards and scrutiny.
  • Commentary
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.

Self-tour tech becomes available to all US agents

(Read the Story)
  • From: HousingWire
  • Summary
On the back of increased interest in self-guided tours for their safety and convenience, lead verification app Kleard announces Kleard Now, which gives agents the ability to set up their listings for self-tours. It does with an app and an associated lock agents purchase.
  • Commentary
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.

Race + Real Estate

(Read the Story)
  • From: Notorious Rob
  • Summary
Rob Hahn asks whether the real estate industry is really serious about improving its racial disparities. He examines the industry’s response to improving the racial disparities within it and revisits Newsday’s investigation into racism among real estate agents in its “Long Island Divided” story.
  • Commentary
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.”

On the nature of platforms

(Read the Story)
  • From: Stratechery
  • Summary
In this analysis of Shopify’s evolving business model, Stratechery writer Ben Thompson explores and outlines the key components of a platform. “That’s part and parcel of being a platform: you win when those on your platform win, even if customers never even know you exist,” he writes.
  • Commentary
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.

The pandemic stokes demand for single-family homes

(Read the Story)
  • From: Mansion Global
  • Summary
The pandemic has changed buyer and renter needs and wants: many are now looking for larger homes, more privacy, self-directed home searches and single-family homes, according to polling and broker and agent experiences.
  • Commentary
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.

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