Zillow co-founder Spencer Rascoff wants to help you buy a second home   Compass acquires title and escrow software startup Modus   Opendoor filing reveals FTC investigation over advertising   Judge denies motion by NAR to dismiss buyer commission lawsuit

Hot Home Sales Market But Not Bubbly   There are dozens of things that are different now compared with 2005, but the most significant include: In 2005, thousands of homes were being purchased and left vacant as they were snapped up by speculators In 2005, rents were low and headed lower because there were more homes than people who wanted to live in them In 2005, almost anyone could get a 100% loan with minimal documentation, and thus had no skin in the game if prices were to fall (as they did) In 2005, few people thought the market could decline Mortgage fraud was rampant creating artificial demand The developers had built (an would continue to build through 2007) more homes than were demanded by the population growth For all 6 of these, the opposite condition exists today. Vacancies are very low Rents are high and rising sharply Qualifying for a mortgage requires financial resources (for example, a job) and must be supported by documentation, and almost all home owners have equity Many people think the market could go down, supported by articles claiming this is likely (although it is not) Mortgage fraud is at a relatively low level The developers have built fewer homes than demanded by population growth between 2008 and 2020.       Brokerage uses VR to get consumers inside houses that haven’t been built yet Urban District Realty, a Washington, D.C.-based brokerage, announced last week the launch of its custom real estate listing system, PROJETO. This system uses virtual reality technology which allows clients to be put in a virtual representation of a property that hasn’t been built yet.   “PROJETO specifically is for homes that have not been built yet, these are homes that are still in development and that is something that when we did all of our research and looked around, no one else is doing it the way we’re doing it in the country,” Principal Broker and CEO of Urban District Realty Ryan Fiero told HousingWire.     Zillow to hire agents as employees for iBuyer transactions Starting in January 2021, Zillow Offers transactions will be managed by a salaried Zillow employee who is licensed to act as a real estate salesperson through Zillow Homes   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, Zillow Offers, in April 2018.     Previously the company was represented by a licensed local real estate agent, through a brokerage partnership in each market, on both sides of the transaction.   “In thinking about how to make the customer experience smoother, what we realized is, by having a Zillow employee who’s their end-to-end for the entire transaction, it made the whole transaction easier and more streamlined,” Errol Samuelson, Zillow Group’s chief industry development officer, told Inman. “One person that the customer could talk to and they knew that this would be the person that would guide them and shepherd them through the process.”

In today’s episode, I’m joined by business performance coach and CEO of Your Performance People, Ron Patulski. With over 20 000 hours and 23 years of performance coaching experience, very few people have been in the coaching space as long as Ron has. He’s seen the landscape change, observed what works and identified the key factors that drive success in a performance coaching relationship.    Coaching isn’t for everyone. Having a heart for helping people doesn’t necessarily make you a good candidate to be a coach, there has to be something more. It takes a special kind of individual and mindset to know how to handle someone’s mind, heart and perceptions in order to help them close the gap between where they are and where they want to be. Ron believes in whole-brain, whole-purpose and whole-person coaching because that creates the progress and permanent change.    Ron Patulski is the CEO and one of the Senior Certified Master Coaches at Your Performance People. Over the last 22 years, Ron has been a Business Performance Coach working with all types of individuals spanning all types of industries. As a CPA and business owner for the majority of his life, he has a passion for the game of business.    Ron has held the designation as a Certified Master Coach for well over a decade, a Trainer of Neuro-Linguistic Programming (NLP), an Executive Level Coach through Columbia University, and continues to study under a number of mentors including a professor at Harvard applying neuroscience to individual and organizational performance. He is also a former member of The Forbes Coaches Council.   Ron, along with his wife Kate, is passionate about the potential of the human mind with a mission to forge new frontiers and breakthroughs assisting others in living the lives they imagine. They are currently advancing this work through a field they have coined and trademarked as “Mind Architects” Website: https://yourperformancepeople.com/ To find out how to become a client, visit coachwithypp.com   Guest Info   Ron Patulski is the CEO and one of the Senior Certified Master Coaches at Your Performance People. Over the last 22 years, Ron has been a Business Performance Coach working with all types of individuals spanning all types of industries. As a CPA and business owner for the majority of his life, he has a passion for the game of business. Ron has held the designation as a Certified Master Coach for well over a decade, a Trainer of Neuro-Linguistic Programming (NLP), an Executive Level Coach through Columbia University, and continues to study under a number of mentors including a professor at Harvard applying neuroscience to individual and organizational performance. He is also a former member of The Forbes Coaches Council.   Ron, along with his wife Kate, is passionate about the potential of the human mind with a mission to forge new frontiers and breakthroughs assisting others in living the lives they imagine. They are currently advancing this work through a field they have coined and trademarked as “Mind Architects” Website: https://yourperformancepeople.com/ To find out how to become a client, visit coachwithypp.com

LoanDepot mulling IPO: Report Homeowners gain over $620 billion in equity in the second quarter Sales of existing homes surge to a 14-year high RE/MAX announced Monday it is acquiring Gadberry Group, an Arkansas-based location intelligence data company

In this episode, OJO Labs Chief Real Estate and real estate team leader, Chris Heller returns to the Kevin and Fred show. With everything happening in the real estate market, from a pandemic standpoint, what’s going on with interest rates and inventory; this is a great time to talk to Chris about the trends he’s seeing and what real estate agents should be doing right now. OJO Labs recently launched The Select Network, a referral network that delivers the best real estate talent to consumers. Chris also has an interesting perspective on the market right now, and how the change in consumer demands have impacted the market.    Chris is the Chief Real Estate Officer at OJO Labs. Founder and owner of The Heller Real Estate Group. As Chief Real Estate Officer of OJO Labs, Chris is shaping partner strategies, creating a cohesive structure between real estate professionals and OJO, and accelerating adoption in the industry. Chris Heller brings deep industry and leadership expertise having held influential positions for more than 3 decades.   The combination of lockdown-driven real estate needs, low inventory and super low interest rates has created a unique real estate market, and made this an interesting time to be a real estate professional. Consumer behavior has shifted radically, with people re-evaluating where they live and making moves to find a home that fits in with their new lifestyles. The most successful agents are leaning into the consumer demands and establishing strategies to help people navigate this new normal. In Chris’ words, “instead of wondering when we’ll go back to normal, we need to really re-evaluate what we mean by normal.”  For more information visit, https://selectnetwork.ojo.com/rise/index_new.php?utm_source=facebook&utm_medium=ch&utm_campaign=own_announcement#/    Guest Info   Chris is the Chief Real Estate Officer at OJO Labs. Founder and owner of The Heller Real Estate Group. As Chief Real Estate Officer of OJO Labs, Chris is shaping partner strategies, creating a cohesive structure between real estate professionals and OJO, and accelerating adoption in the industry. Chris Heller brings deep industry and leadership expertise having held influential positions for more than 3 decades. For more information visit, https://selectnetwork.ojo.com/rise/index_new.php?utm_source=facebook&utm_medium=ch&utm_campaign=own_announcement#/ 

Opendoor going public Mortgages in forbearance drop again, but that trend could reverse Interest rates hit another all time low

Spike in lumber prices boosts construction costs Higher lumber costs are adding about $16,000 to the price of a new house, NAHB says   On earnings debut, Rocket reveals plans to dominate the U.S. mortgage market Adwerx now allows you to stream your next listing on Hulu

In Today’s Episode, We Talk About; - John’s journey as an entrepreneur prior to real estate and starting Yodle at 21. - Exiting Yodle and the importance of being led by value not the goal to exit the business. - Entrepreneurial PTSD and the challenges founders face - The journey of OJOLabs and why John chose it as his next venture after Yodle.- The difference between real AI and what people say AI is.- Scaling and its connection to a lack of entrepreneurial desire. - What John is excited about, what he has changed his mind on and something surprising about him. - The value of earned trust, and why it’s what makes a real difference in business. What doesn’t exist today is a consumer trusting a product or company  Guest Info John Berkowitz is the Co-founder and CEO of OJO Labs, an Austin-based company that has quickly become a leader in conversational AI technology. With the application of its patented AI, OJO empowers people to make better decisions through the fusion of machine and human intelligence by automating lead conversations for agents and creating data-driven, personalized experiences for consumers. John’s track record of building and scaling successful, mission-driven technology companies with award-winning workplaces paved the way for the formation of OJO in 2015. John’s dedication toward building a positive work environment led to OJO being named to Comparably’s 2018 Best Company Culture list, and Built In Austin’s Best Places to Work in 2019.  Prior to founding OJO, John co-founded Yodle, and was instrumental in building it into a $200M+ revenue leader in the online marketing space with more than 50,000 SMB customers and over 1,400 employees. In February 2016, Yodle was acquired by Web.com in a $342 million all cash transaction. Recently, John was named to Swanepoel’s SP200 and The Most Powerful Technology Executives in The Residential Real Estate Brokerage Industry list. John is actively involved in nonprofits, and currently serves as CASA’s board president, using his entrepreneurial background and resources to fight for the welfare of children in the communities he operates in.

Eviction moratoriums ending in some states… Refi Fee is Delayed - now starting December 1st Biden proposes $15,000 first-time homebuyer tax credit