This was a fun one, for sure, as Errol Samuelson, Chief Industry Development Officer of Zillow, is one of the smartest guys in the industry. He’s also been around the block a few times, and in very senior roles where real estate and technology intersect. He’s also quite reticent about appearing on things like podcasts, … Read more
I hold it true, whate’er befall; I feel it, when I sorrow most; ‘Tis better to have loved and lost Than never to have loved at all. – Alfred, Lord Tennyson, “In Memoriam” In my writeup of Redfin’s Q1 results, I wondered what happened to Redfin’s North Star: It used to be very clear: the … Read more
I’ve been busy with earnings season, which provides a unique peek under the hood of the five public companies (well, four, since EXPI doesn’t do earnings calls) and what they’re thinking about the future. But I saw something on the Book of Faces that made me think it’s a topic worth considering. It’s also a … Read more
RE/MAX came into 2020 on a big upswing. Q4 was a good quarter; it was a very good quarter, in fact. And as we have already seen from Realogy, Redfin and Zillow, Q1 was a record-breaking type of quarter until COVID hit. So it’s a bit surprising that RE/MAX’s numbers came in so soft. I’m … Read more
As threatened, Greg and I recorded a special live version of Industry Relations, inviting everyone to join in on a free-flowing conversation about what’s next for real estate. It was… an interesting experience, and one unlikely to be repeated anytime soon. Turns out, “call-in radio” style might not be our strong suit. 🙂 Nonetheless, we … Read more
One of my favorite moments in recent earnings calls came when Glenn Kelman, CEO of Redfin, used the phrase “delayed blast fireball” in an actual call. I ended up naming my writeup that, because as a former AD&D Dungeon Master, I got a real kick out of just how legit a nerd Kelman probably is. … Read more
Realogy was one of the first public companies in residential real estate to report Q1 earnings… and it was more or less what was expected: Q1 came in strong, even with the crash towards the end of the quarter with COVID. This was always going to be the case for Realogy and everybody else in … Read more
Happy Tuesday, fellow house-arrest detainees! This will be a short post, at least by my standards, as I have other bigger posts in the works, but wanted to get this out. So I’m one of those who bought a house during the pandemic, and moved during the lockdown. (Real estate is categorized as an essential … Read more
Since my last quick take on this, I have had more time to investigate, research, and talk to a wide variety of people from the real estate and financial worlds. I am more convinced than ever that iBuyer will return with a roar when this current shutdown is over, and why people in the real … Read more