T3 Insight

Identifying the real estate industry’s best-in-class technology, an interview with a leader in luxury + notes from tech’s cutting edge

Articles in this Edition

In this edition of T3 Insight, T3 Sixty's latest monthly analysis of the residential real estate brokerage industry includes articles on Identifying the real estate industry’s best-in-class technology, an interview with a leader in luxury + notes from tech’s cutting edge. Take a deep dive below.
Released March 31, 2023

Inside the 2023 Tech 200

by: Paul Hagey, Travis Saxton

Notes from Tech’s Horizon

by: Derek Tayler

Exploring Douglas Elliman Real Estate’s luxury focus

by: Paul Hagey

What We're Reading

In addition to the articles, here are a few items we are reading from across the internet.

Moehrl brokerage compensation lawsuit gains class-action status

The high-profile antitrust lawsuit filed by homeseller Moehrl against NAR, some of the nation’s largest brokerage companies and 20 MLSs has been granted class-action status by a federal judge. The suit, which alleges that the industry’s compensation structure supported by NAR and brokerages stifles competition and increases brokerage fees, resembles a similar suit that gained class-action status in 2022. While a judge ruled that the U.S. DOJ must end its investigation of NAR’s Clear Cooperation Policy, the industry’s predominant brokerage compensation structure still faces immense potential changes. Read the lead chapter in the 2023 Swanepoel Trends Report, “Evaluating Real Estate’s Compensation Structure and Its Future” for more

  • Real Estate News
Real estate icon Wes Foster dies

Wes Foster, co-founder of Long & Foster Companies, passed away at the age of 89. He represents an era of family-founded and -owned real estate companies that has slowly been disappearing. He co-founded Long & Foster in 1968 and eventually bought out his co-founder. In 2017, following the corporatizing trend among the nation’s largest companies, he sold his firm to HomeServices of America. The brokerage continues operating under its brand as a subsidiary of the larger HSA company.

  • Real Estate News
DOJ says tossing pocket listing suit limits competition

The U.S. Department of Justice has filed an amicus brief in a federal lawsuit by pocket listing service Top Agent Network against NAR in May 2020 that states that tossing the suit would set unlawful precedents regarding competitive advantages of NAR-affiliated MLSs. The suit, which a court tossed in August 2021 but is now under appeal, alleges that the Clear Cooperation Policy, which requires MLS subscribers to enter listings into the MLS within one business day of publicly marketing them, violates antitrust laws. This simmering case is one to watch as it could have far-reaching impacts if the courts reopen the suit.

  • Inman
Kamini Lane takes on top role at Coldwell Banker

Anywhere Real Estate has tapped Kamini Lane as president and CEO of its company-owned Coldwell Banker offices. Reporting to Sue Yannaccone, president and CEO of Anywhere’s franchise division Anywhere Brands and its company-owned brokerage division Anywhere Advisors, Lane reflects the increasing role women are playing at the highest level in real estate corporate boardrooms. Every year, T3 Sixty tracks the industry’s 200 most powerful leaders in the SP 200. 2024 is shaping up to be potentially a record year for women on the ranking.

  • Real Estate News
Behind the trend of climate migration

This piece explores the growing appeal of some cities in the Midwest, such as Duluth, Minnesota, for those looking for a resilient climate as temperatures rise and wildfire risk increases in many areas of the country. Agents in Duluth, for example, report that homebuyers come with cash – from other more expensive areas of the country – and site moving to the area as climate-inspired.

  • New York Times
Boomers are now biggest group of buyers

Boomers have retaken the title as the most populous generation of homebuyers from millennials, according to NAR’s 2023 Home Buyers and Sellers Generational Trends report. The report reveals that boomers led all generations with 39% of home purchases in 2022, followed by millennials accounting for 28%. In 2021, millennials led with 43% share compared to boomers at 28%. Older homebuyers often have more resources and can weather turbulent economic times, like the U.S. is experiencing now, better than younger buyers. Brokerages and agents can leverage this insight to adjust their marketing and prospecting to better meet and serve current buyers.

  • Real Estate News
Fannie Mae economists forecast modest recession beginning in 2Q

A group of Fannie Mae economists have forecasted, based on economic data, housing sales forecasts and the faltering banking system, that the U.S. will likely see a modest recession commencing sometime in the second quarter. As uncertainty looms, real estate companies are smart to implement a conservative, focused financial approach as the second quarter begins. For those with clear strategies, opportunities will emerge to grow and take market share.

  • Fannie Mae
Home sales up, prices down in Feb

Home sales jumped 14.5% in February the month previous, the largest jump in over two and a half years, according to the latest existing home sales report from the National Association Realtors. Median existing home prices, however, dropped 0.2% in February from a year previous, marking the first year-over-year drop in over a decade! Inventory remains low, which could sustain demand despite rising interest rates. The market continues to throw mixed signals. At this time, strategic, focused marketing will help brokers and agents stand out and resonate with real estate consumers facing a difficult market.

  • Real Estate News