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October 2020

T3 Insight Monthly Digest

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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 2020
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Chicago-based @properties announces national franchise play

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[
October 2020
]

Recruiting funnel best practices and technology solutions

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[
October 2020
]

The secret to hiring outstanding talent

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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.

Keller Williams forms holding company KWx

(Read the Story)
  • From: Keller Williams Realty
  • Summary
Gary Keller, who has led Keller Williams Realty in his second stint as CEO since January 2019, and become executive chairman of a new holding company KWx, which is the new parent company for Keller Williams Realty, Keller Williams Worldwide, Keller Mortgage, Keller Covered and Keller Offers. Carl Liebert, becomes the new CEO of KWx.
  • Commentary
This corporate organization changes little in the day-to-day operation. Josh Team and William Soteroff, respectively, remain president of Keller Williams Realty, Inc. (USA operations) and Keller Williams Worldwide, KW’s international division. Liebert, however, is a game-changer. He brings more than 30 years of experience leading customer-driven transformations and developing strategic, operational and process excellence within retail (AutoNation, 24 Hour Fitness, The Home Depot, Circuit City), financial services (USAA), and industrial (General Electric) organizations and is the first executive of this caliber to join KW. A public offering in the coming years now looks like a very viable probability.

Compass acquires title startup Modus

(Read the Story)
  • From: The Real Deal
  • Summary
With the acquisition of title startup Modus, Compass dives deeper into ancillary business, something its large brokerage counterparts have developed and relied on for years to maximize and diversify their revenue.
  • Commentary
Ancillary business gives traditional brokerages access to valuable revenue streams that tie into their core real estate transaction models. Compass, like many other newer brokerage companies, says it is building an end-to-end real estate platform, which Modus will play a part in.

Judge denies NAR’s motion to dismiss class-action commission antitrust case

(Read the Story)
  • From: Inman
  • Summary
The large antitrust class-action lawsuit filed on behalf of homeowners against NAR and large brokerage defendants continues after a judge dismissed NAR’s motion to dismiss it in early October.
  • Commentary
This lawsuit and those related to it loom as potentially large change-agents in the industry. As chronicled in the 2020 Swanepoel Trends Report chapter on the subject, the lawsuits could change how buyer’s agents are compensated. However, any direction or certainty is still years away.

Spencer Rascoff and Austin Allison launch startup to help homeowners buy second homes

(Read the Story)
  • From: The Real Deal
  • Summary
Zillow Group alums Spencer Rascoff and Austin Allison, former CEO (and former dotloop founder) respectively, have teamed up to launch a startup that helps homeowners acquire equity in a second home with Pacaso. Rascoff serves as chairman and Allison as CEO.
  • Commentary
This addition to the real estate startup space from startup vets reveals just how much white space remains in the industry for innovation.

Howard Hanna acquires BHGRE Rand Realty

(Read the Story)
  • From: Howard Hanna
  • Summary
Howard Hanna, the nation’s seventh-largest brokerage by 2019 sales volume, has scooped up another brokerage, this time, BHGRE Rand Realty, the nation’s 107th largest brokerage based on its 2019 sales volume of $2.3 billion, according to the 2020 Real Estate Almanac.
  • Commentary
As the industry continues to mature, the big get bigger. This years’ long trend in the making continues with this acquisition. Look for others in 2020 and 2021.

T3 Sixty

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