Steve Murray on COVID and real estate company earnings
Today’s HousingWire Daily features a crossover episode with RealTrending, a podcast that focuses on interviewing the brightest minds in real estate and the housing market. In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses the impact of the recent resurgence of COVID-19 and shares some insight into recent real estate companies’ earnings calls.
Additionally, he announces a new RealTrends real estate teams performance study that is launching in September.
Resurgence of COVID-19: We notice already that many of our brokerage clients are now shifting to virtual meetings once again. That’s a trend that seems to be picking up some steam among leading brokerage companies in the country, in all regions of the country, just for safety’s sake.
Company earnings: If you look at the performance of some of the larger stock market companies, like Zillow, Redfin, Opendoor and Compass, it will be interesting to see when or if they achieve valuations. That is, will they grow into their valuations as time goes by? Who knows for sure? Certainly, I wouldn’t venture an opinion whether one or all of these companies will in fact grow into their valuations.
But it means that we’re going to continue to see new competitors with new ways of doing business, getting funding from a variety of sources to gain their piece of the residential brokerage business. Does this mean the incumbents should run around shrieking with their hands in the air and their hair on fire? Don’t do that!
Real estate teams: We understand that teams can be scaled because there are real estate teams now doing 1,500 to 5,000 transaction sides, which is sizable. Some teams would qualify for the RealTrends 500 or Nation’s Best brokerage rankings. We’re going to launch a new real estate team study in September. We will notify each of you and invite any of your teams that wish to participate to join us in this in-depth national study about the performance of teams. We’ll produce a benchmark report while maintaining strict confidentiality for each team’s submissions. The benchmark report will give broker-owners, team leaders and team owners good information about how the best teams perform.
HousingWire Daily examines the most compelling articles reported across HW Media. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Elissa Branch. If you have a pitch or an inquiry relating to podcasts, you can reach our team at email@example.com