Welcome to ResiRe Weekly
Issue 1 - October 9th, 2020
Thank you for taking the time to subscribe and read my new ResiRe Weekly email newsletter! I am excited to start writing this on a weekly basis, and I hope my thoughts and insights can be helpful for you in some way. I have been involved with various facets of the residential real estate space for almost 15 years now, and I am more excited than I have ever been about the future of our industry. We are in the midst of a tectonic shift in the way this entire space operates, and things are moving at lightning speed behind the scenes. I spend a few hours a day just reading and talking with people in the industry from all over the country, and I look forward to sharing things I learn with you here. Please reply back with any thoughts or comments! Follow me on Twitter here.
"The industry is moving so slow you can look around and think nothing is changing (or get caught up in the hype and think everything is changing). That’s why now – more than ever before – is the time to stay informed, understand the scope of change, and react appropriately." - Mike Delprete, Real Estate Tech Scholar at The University of Colorado Boulder
Newsworthy Links To Share
Modus is acquired by Compass: Modus was founded in 2018 by Alex Day, Jai Sim, and Abbas Guvenilir with the aim of digitizing the home-closing process by providing a transparent platform for both agents and their clients. Modus has been building technology tools for the closing/escrow piece of the transaction that is so outdated for home buyers and sellers today.
Judge denies motion by NAR on buyer commission lawsuit: I am shocked this lawsuit development is not getting more attention in the press. This suit threatens to upend the status quo commission payment structure in place today. Home sellers in America are always on the hook to pay the buyer's agent commissions - it is odd when you think about it, but this is how it has always been done. This lawsuit could transform the standard commission payment method and transfer the commission payment for buy-side agents to their buyer clients. I predict a huge shift in the entire industry on a lot of fronts if this were to become law. This will be something to closely watch as it keeps pushing forward.
No More Commission Splits: This is a self promo plug for my new brokerage company, Archetape. I wrote this long form article on Medium recently to explain our vision of the future for the residential real estate brokerage industry and WHY we launched this company.
Zillow transitions from portal to brokerage: Zillow is set to hire real estate agents to represent it in buying and selling homes, a marked shift from the way the company has managed transactions since launching its iBuyer business, Zillow Offers, in 2018.
If you like reading email newsletters, then you should check out Mike Delprete too - he is a real estate tech scholar at the University of Colorado Boulder.
Joe Rogan has moved to Austin - Check out photos of his massive estate on Lake Austin