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Industry Relations with Rob Hahn and Greg Robertson

The Notorious R.O.B. and Greg Robertson discuss organized real estate in a disorganized manner.
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Industry Relations with Rob Hahn and Greg Robertson
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Now displaying: April, 2018
Apr 28, 2018

If Rob and Greg are cute when they fight, then our co-hosts are particularly adorable on this edition of Industry Relations as they take on the current controversy over the new NAR logo: Is #Logogate indicative of an alarming disconnect between NAR leadership and its members? Or did NAR leadership take the appropriate steps to engage constituents in the decision-making process—and it simply didn’t work out?

 

Today, Rob and Greg begin their discussion with a review of the Information Technology & Innovation Foundation forum in DC on using technology to make real estate more competitive, describing the lack of understanding demonstrated by the moderator and the defensiveness of the industry players on the panel. They go on to address #Logogate, and Rob shares his take that the controversy demonstrates a flaw of governance, while Greg argues that a logo is subjective—and leadership may havesolicited member input during the process.

 

Rob offers insight on the ‘culture of confidentiality’ he has observed among association leaders, while Greg contends that the current leadership is more transparent and proactive than ever. They wrap up with dialogue on how Zillow may be raising the bar in real estate by entering the iBuyer space, choosing the best of its Premier Agents to represent the company in selling its inventory. Fasten your seatbelt and listen in as Rob and Greg clash on ITIF, #Logogate, and the best agents in real estate!

 

What’s Discussed: 

 

The recent ITIF forum on using tech to make real estate more competitive

The defensive posture of real estate representatives on the ITIF panel

David Kelley’s focus on broker reaction to competition as opposed to data

Rob’s call for a more collaborative approach vs. playing ‘hide the ball’

The current controversy over the new NAR logo

The disconnect between NAR leadership and its members

Rob’s take that #Logogate is indicative of a larger communication issue

Greg’s view that member engagement is the bigger problem

NAR’s proposed dues increase and assumption of budget approval

Rob’s view on the culture of confidentiality at NAR

How Zillow may ‘raise the bar’ for real estate agents

Greg’s argument that the best real estate agents aren’t on Zillow

 

Resources:

 

Information Technology & Innovation Foundation

‘Blocked: Why Some Companies Restrict Data Access to Reduce Competition and How Open APIs Can Help’ by Daniel Castro and Michael Steinberg

Rob’s #Logogate Blog

Rob’s Zillow Blog

 

Connect with Rob and Greg:

 

Rob’s Website

Greg’s Website

 

Our Sponsor:

 

Cloud Agent Suite

Apr 28, 2018

Is Zillow getting into the house flipping business to make a profit buying and selling real estate? Of the users who submit an Instant Offer request, one-third sell their home within 90 days—and 10% of that third take an investor’s offer. Zillow’s main play here may just be seller lead generation.

Today, Rob and Greg talk T3, iBuyers and Zillow. Greg shares his takeaways from the T3 conference, including praise for Stefan’s keynote address and an eye-roll over the ‘no corporate sponsors’ sentiment. Our hosts discuss the recent bombshells around Dale’s departure from RPR and Zillow’s expansion of Instant Offers. Rob walks us through the details of Zillow’s announcement, explaining how sellers will now get an offer from Zillow itself when they use the Instant Offers platform. Rob and Greg share surprise at the lack of backlash around the announcement, examining the benefits for an agent representing Zillow as well as the drop in stock price in light of the news.

Greg offers insight on potential abuses of the iBuyer model, considering how predatory lenders might target seniors, the uneducated, or the poor, and they cover the impact of Zillow’s shift on other players in the iBuyer space. Listen in as Rob and Greg address the windfall Zillow is likely to earn in the form of seller leads and learn how the company could solve the affordable housing crisis—and gain invaluable PR in the process!

 

What’s Discussed: 

 

Greg’s takeaways from T3

The rumors around RPR and Zillow

Zillow’s announcement of the expansion of Instant Offers

The surprising response to Zillow’s plans to flip houses

Greg’s concerns about the iBuyer model

The recent drop in Zillow’s stock price

Why flipping is not a change in Zillow’s business model

The prospect of Zillow making a fortune on seller leads

Greg’s casino analogy for Zillow’s home-flipping venture

Rob’s take on how Zillow could solve affordable housing

Zillow’s impact on other players in the iBuyer space

 

Resources:

 

Rob’s Zillow Blog Post

Ben Thompson’s Zillow Post

‘Opendoor Founders Subtweet Zillow’s New Home Buying Service’ in Inman

 

Connect with Rob and Greg:

 

Rob’s Website

Greg’s Website

Apr 18, 2018

Would the woes of the real estate industry be resolved if agents were employees rather than independent contractors? At Inman Disconnect, Rob posited that shifting from the 1099 to a W-2 model would give brokers more control and allow them to address several of the fundamental issues in the space, raising the standards of professionalism by eliminating incompetent or toxic agents—without risking their livelihood.

 

Today, Rob, Greg and Sunny debate Rob’s proposal, discussing the challenges brokers face in mandating trainings and mentoring for new agents who are independent contractors. Greg argues that leadership is at issue rather than employment status, contending that employees and independent contractors alike are only motivated by leaders who inspire buy-in. Rob, Greg and Sunny address the broker’s responsibilities around professionalism in the industry and weigh in on whether or not brokers can afford to fire top producers who are toxic to the business.

 

Rob breaks down the revenue structure in a brokerage, explaining how the shift to a W-2 model would give brokers more autonomy and abate the head-count-driven model that fuels a lack of professionalism. Listen in as Rob and Greg come to an unprecedented agreement on the role of leadership in raising industry standards and learn how the law firm model—with its division of employee-associates and partners—might be adapted for real estate.

 

What’s Discussed: 

 

Rob’s proposal that the 1099 is the cause of many industry woes

The history behind the shift to agents as independent contractors

Sonny’s take on the broker’s challenge in mandating trainings

Greg’s argument that the issue is leadership vs. control

The broker’s responsibility around agent professionalism

How great leaders attract great talent

Why it’s difficult for agents to move brokerages

Why brokers are hesitant to fire toxic agents

The breakdown of revenue in a brokerage

  • Don’t make money on top producers
  • Earn on 60/40 agents (five deals/year)

How the W-2 structure would give brokers more control

What triggers the head-count-driven model

  • Companies compensate for recruiting numbers
  • No cost to keep agent who does two deals/year
  • Brokers make LESS from superstar top producers

How the law firm model might be adapted for real estate

 

Resources:

Inman Disconnect

 

Connect with Rob and Greg: 

Rob’s Website

Greg’s Website

 

Our Sponsor: 

 Cloud Agent Suite

Apr 4, 2018

Observe. Orient. Decide. Act.

 

The OODA loop is a tool for decision-making developed by military strategist John Boyd. At the Inman Disconnect Conference in Palm Springs, organizers focused on the Orient piece of the process, collaborating with attendees to design a set of principles to govern the industry moving forward. The question becomes, how might those principles influence decision-making in real estate? And will such a manifesto inspire industry players to look inward and take the necessary action?

 

Today, Rob and Greg debrief the Inman Disconnect Conference, applauding Brad Inman’s investment in engaging the industry. They discuss the history behind the Ahwahnee Principles, a new approach to urban planning developed by mavericks in the space in the 1970’s, and how Brad is working to emulate the design of a similar manifesto for real estate. Rob offers insight around the impact of developing a set of principles and how that might translate to action and policy change moving forward, and Greg explains how big gains can be made by people in a community changing small habits over time. Rob and Greg touch on some of the principles addressed at the conference, including low-income housing and big data. Listen in as they share their top takeaways from Inman Disconnect and how the principles can serve as a device to communicate about the way we do business.

 

What’s Discussed: 

 

The intent behind the Inman Disconnect Conference

Brad Inman’s investment in engaging the industry

The history behind the Ahwahnee Principles

  • New approach to urban planning
  • Grew into manifesto (1970’s)

Brad’s aim to develop a set of principles for real estate

The real estate establishment vs. industry ‘rebels’

The controversial issues discussed at Inman Disconnect

  • Low-income housing
  • Free, open data

Rob’s insight around the impact of principles

  • Govern actions, have consequences
  • Influence policy changes

Greg’s take on the impact of small changes

Greg’s view on big data and privacy

How the principles might translate to action

  • ‘They’ vs. ‘I’
  • Device to start conversation

 

Resources:

Inman Disconnect

The Parker Principles: A Real Estate Manifesto

Nudge: Improving Decisions About Health, Wealth, and Happinessby Richard H. Thaler and Cass R. Sunstein

 

Connect with Rob and Greg:

Rob’s Website

Greg’s Website

 

Our Sponsor:

Cloud Agent Suite

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