Commoditization of the Home

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Open Door CEO Eric Wu stepped down after the company posted a $1 billion loss in the third quarter. More than half of that was attributed to a write down at home values. Taney spoke with Mike Delpreet, a real estate tech expert about the move. He says out of any industry or asset class, real estate houses must be the hardest to commoditize.

After low interest rates propelled investment sales to a record-breaking year in 2021, commercial brokerages including CBRE, Newmark and JLL, are now feeling the brunt of the impact. They're pushing to cut costs, some have laid off employees, but all agree the macroeconomic environment has made it hard to do business. Deconstruct chats with TRD reporter Patrick Ralph about the reasons behind the brokerages’ pain and whether the firms will see relief in the future.