Industry Relations Ep. 46: What’s Next for Real Estate

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 had a great time, and hope that you might find something entertaining and enlightening from the episode.

From the episode description:

Last week, Rob & Greg imagined what the future of real estate might look like in the aftermath of the pandemic, pending a best-case scenario. Today, they get real about what’s ahead for the industry given the reality of our current circumstances. And they’re bringing on a number of industry stakeholders to offer their outlook as well.

On this episode of Industry Relations, Rob and Greg are leading a group chat around what’s next for real estate as the Coronavirus pandemic plays out. The group offers predictions on how the MLS landscape may change, debating whether it’s the number of MLSs or the number of MLS databases that really matters and offering examples of hybrid solutions that may serve as a model for the future.

Greg and Rob go on to solicit the group’s thoughts on the potential shape of the recovery curve and the possibility of a shift to a buyer’s market in 2021. Finally, they explain why an increase in property taxes is likely in the aftermath of the COVID-19 bailout and how that might impact buyer demand in the real estate market. Listen in for insight on Open House numbers in states where stay-at-home orders have been lifted and learn how those stats might be a good sign for other industries.

What’s Discussed:

  • A review of what Rob & Greg covered in their best-case discussion
  • Greg, Clint Skutchan, & John’s predictions re: the number of MLSs by 2023
  • Why the consolidation of data is more important than the total number of MLSs
  • Tim Dain’s vision of a future with ten or fewer MLS databases that talk to each other
  • How the pandemic demonstrates the industry’s underutilization of telecommunication
  • Why Georgia is watching the commercial market for clues re: the future of residential
  • Georgia’s concept of a J-shaped recovery
  • Why Joshua Lopour is predicting a buyer’s market in 2021
  • Why Greg expects a best-case scenario uptick in buyer demand
  • Why property taxes are likely to increase and how that might impact buyer demand
  • The significant uptick in Open Houses scheduled in states where stay-at-home orders have been lifted
  • How Open House numbers may be a good sign for other industries

Find the episode below, as well as on Apple Podcasts:


 

Thanks!

-rsh

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Rob Hahn

Rob Hahn

Managing Partner of 7DS Associates, and the grand poobah of this here blog. Once called "a revolutionary in a really nice suit", people often wonder what I do for a living because I have the temerity to not talk about my clients and my work for clients. Suffice to say that I do strategy work for some of the largest organizations and companies in real estate, as well as some of the smallest startups and agent teams, but usually only on projects that interest me with big implications for reforming this wonderful, crazy, lovable yet frustrating real estate industry of ours.

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