Next Level Agents: The Kevin & Fred Show - Interviews with the best and brightest minds in the real estate industry

We waste so much energy on holding on to the old. What really need to do is so simple... It’s so simple that almost all people miss it because it’s too obvious

What are your clients getting in the mail from OpenDoor?

Zillow President Greg Schwartz to leave company at end of year Schwartz joined Zillow in 2007, and the company will realign responsibilities under current leaders   Greg Schwartz, the president of media and marketplaces and a 12-year veteran of Zillow, is leaving the real estate tech giant at the end of the year, the Seattle-based company confirmed to Inman Monday. Zillow will shuffle oversight of the company’s segments among its current leadership with no current plans to replace Schwartz’s role. Schwartz, in a statement, said he was going to take some time off before finding his next role.       Bungalow, an iRenter, nabs $47M to scale 'co-living' business Bungalow expects to lease units to 12,000 tenants by the end of 2020   Two new types of real estate tech startups have been sucking up more oxygen lately: “co-living” startups that facilitate living with roommates and “iRenters” — basically iBuyers for the rental market   Bungalow, has announced bagging an additional $47 million in one of the larger funding rounds for a real estate startup as of late. That brings its total funding to $68 million so far, by Forbes’ count. As an “iRenter,” Bungalow has been leasing single-family homes from their owners, repurposing them to accommodate more tenants and then subleasing the units room by room to a target demographic of 20-something professionals. In some ways, this resembles how iBuyers have tackled the housing market: rather than sell a home on behalf of a homeowner, they make offers on homes and buy them directly.   Two years after its official launch, Bungalow reports leasing units to more than 3,200 tenants living in 730 homes across 10 markets, including New York City, Washington, D.C., Chicago, Los Angeles and Seattle. It expects to “accommodate” more than 12,000 tenants by the end of 2020.       First American Financial Corporation, a provider of title insurance, settlement services and risk solutions for real estate transactions, announced on Tuesday the launch of Endpoint, a new stand-alone company.   Endpoint is a mobile-first title and escrow company that, according to First American, provides a re-imagined closing experience for buyers, sellers and real estate agents. First American has invested $30 million to develop and grow the company. “Our investment in Endpoint reflects our commitment to developing innovative, state-of-the-art technologies that improve the process of transacting real estate,” said Dennis Gilmore, chief executive officer at First American. The announcement outlined some of Endpoint’s features, including: Documents are completed in the app, with clear guidance as to what information is needed and how much time each task is likely to take; Earnest money can be transferred digitally and all parties are notified once the money is received; E-signatures can be completed in the platform, while a mobile notary can be scheduled to facilitate a wet-signature at no additional cost.

About the Episode   My guest today is John Mitchell, a man whose life story, transformation and success is incredibly inspiring. By implementing the mental technique he developed, he was able to take his income from six figures to seven figures and change his life in other key areas like relationships and health.    John’s 12 minutes a day “Think It Be It” technique is recognized today as the “Top Practical Application in the World” of the legendary book Think and Grow Rich. John started out as a CPA but became an entrepreneur at the age of 30. He owned companies in a variety of industries including real estate development, banking, a restaurant, a children's book publishing company, and an automotive company. But upon reaching 50, he wasn’t as successful as he thought he should be. Then he found the top book on success and achievement ever written, Think and Grow Rich, with over 100 million copies sold. And John developed his 12 minute daily technique around the book’s central concept – “what you envision in detail on a daily basis is what shows up in your life”. A practical application of the legendary book didn’t exist before so John created it.    When he applied his technique to his own life, he saw his income go to over $5 million a year. Previously, for 20 years as an entrepreneur, he earned low six figures a year. This huge difference happened because the daily technique he implemented significantly increased his control over himself. It also made him laser-focused every day on only the 2-3 things that move the needle in his business and his life. John’s company Think It Be It is the top company in the “Success through Science” category of the success and human achievement field, and the science behind his technique was profiled in a Time Magazine cover story.    Our ongoing thoughts determine our success, but in order for those thoughts to translate into new habits and different results, we have to consistently work on reprogramming how we think. We need to lead a life of intense intention, clarity, discipline and focus and there needs to be a tool we can rely on to implement them into our lives. That is how we break through the ceiling and grow in every key area of our lives. In Today’s Episode, We Talk About;   - Why it takes more than hard work to earn seven figures, and the significance of Think and Grow Rich.  - How John Mitchell went from six figures to seven figures 25 years into his career - How to reprogram our internal operating system so that we’re not working from a place of fear and reactivity.  - The 2 key behaviors that set mega-achievers apart.  - John’s 12 minute “Think It, Be It” mental technique.    - Darren Hardy’s success story and how John connected with him.  Guest Info   John is an Entrepreneur and Success mentor helping entrepreneurs up their game to NET 7 figures a year. He is the founder of Think It Be It, the “Top Practical Application in the World” of the legendary book Think and Grow Rich. Register for John’s FREE 5 Day Entrepreneur "Success Formula" Program here https://www.theunfairedge.com/.    Email: john@thinkitbeit.net. 

How many iBuyers are there?

The 3 C's of iBuyers

It's Quarter 3 Earnings Reports Season! Redfin beats expectations, posts $239M in revenue for Q3 2019The latest earnings report comes as the tech-oriented brokerage steadily expands programs such as RedfinNow and Redfin Direct, which could upend how consumers engage with real estate Redfin continued a multi-quarter hot streak Wednesday, revealing that during the third quarter of this year it raked in $239 million in revenue. The online brokerage’s revenue represented a jump of 70 percent year-over-year. Gross profit also jumped from $42.3 million a year ago to $53.4 million this quarter, an increase of 26 percent. And earnings per share ended up at $0.07. All of those figures easily beat analyst expectations. Leading into Wednesday’s report, financial experts had expected to see the company bring in $230.14 million in revenue, an increase of merely 64.1 percent year-over-year. Analysts also expected earnings-per-share to remain unchanged from a year ago at $0.04.  Realogy posts a net loss of $70M in Q3 after $1.6B in revenue The loss was driven primarily by a $180M impairment at NRT, Realogy's own-side brokerage Realogy reported a net loss of $70 million in the third quarter of 2019, a major swing from the $103 million in profit it posted in the third quarter of 2018. The loss was driven primarily by a $180 million impairment at NRT, Realogy’s own-side brokerage, according to the company.The company also posted an adjusted earnings per share of $0.65, missing the consensus estimate of $0.85 per share. Realogy to Sell its Global Relocation Business to SIRVA Worldwide, Inc. in $400 Million Transaction- Realogy will use a substantial majority of net proceeds to pay down corporate debt and will leverage Broker Network and Affinity business to serve a broader customer-base Saddled with $3.5 billion in total debt, Realogy said Thursday that it will sell Cartus’ relocation business to SIRVA, a relocation company that owns Allied Van Lines. The deal does not include recent affiliations meant to drive business, such as partnerships with Amazon and AARP. “This transaction is about simplifying and amplifying — simplifying Realogy’s business, and amplifying Realogy’s value,” the company said in a statement. The deal is expected to close during the first half of 2020.  EXp World Holdings posts major revenue gain, losses narrow The parent company of eXp Realty beat the consensus estimate, posting a net loss of $0.03 per share and revenue of $282M EXp World Holdings, the parent company of virtual cloud real estate brokerage eXp Realty, continued its precipitous growth in the third quarter of 2019, posting $282 million in revenue, a year-over-year growth of nearly 80 percent.  SoftBank posts $6.4B loss, CEO 'regrets' WeWork investmentThe company also reported it lost $4.6B in its WeWork stock value after WeWork's failed initial public offering SoftBank, the Japanese conglomerate with a heavy investment in U.S. tech startups, posted a net loss of slightly more than 700 billion Japanese yen – or approximately $6.4 billion – in the second quarter of the fiscal year ending March 31, 2020.The company also reported after WeWork’s failed initial public offering and public valuation plummet that it lost approximately $4.6 billion in its WeWork stock value from that valuation decline.  Compass makes major changes to its stock option programThe company is shifting from offering equity stock options to restricted stock units that would vest in the event of an IPO Compass is making big changes to its agent equity program, according to an internal memo obtained exclusively by Inman. The company is shifting from offering equity stock options — an option to buy stock in the future at a set price, or strike price — to restricted stock units that will vest under certain conditions.

About the Episode   On this episode, I’m joined by real estate broker and owner, thought leader, and entrepreneur, Joe Bell. He is a master of being in tune with what’s happening in the market, being at the forefront of the iBuyer conversation, and setting real estate agents up for a financially comfortable and successful future. Joe has a natural desire for disrupting the status quo, primarily focusing on industry evolution through developing new categories of business. With a changing and shifting real estate market, the insight he brings is crucial in helping us not only navigate what’s happening in the market, but actually leverage the market to help us win now and in the future. “It’s not all negative, there are opportunities for us to insulate ourselves from the future.”   Joe is broker/owner at Notch Realty, Assistant CEO at Keller Williams Realty Alaska Group and owner of Fossil Fuel Healthy Donuts. He is a thought leader with a knack for creating outside the box opportunities. After a prolific sports career in College, Joe settled into Real Estate, as it was a natural accelerator of his talents. Joe has been highlighted as one of Alaska’s Top 40 under 40 for his work within the Real Estate Industry, including a run as CEO of a Billion Dollar Brokerage.   He is a founder in several startups, as one of Joe’s key strengths is motivating others to pursue their dreams. Joe has been coaching baseball and business in some capacity for the past 15 years; helping students navigate adversity and failure toward success is a big part of who Joe is.   For the first time in real estate we have a collision course of technology, consumer behavior driving it and changing expectations. This is shifting a lot of things for agents, including income, earnings and market share. The truth that many of us don’t want to hear is that there are going to be fewer deals that we can transact as agents. This doesn’t have to spell gloom and doom for us though, there is plenty of opportunity to go around for those who know how to leverage the market evolution. It’s all about deploying money for future success, and going beyond being the asset the holds the whole business. If we are able to stop going from deal to deal, and build systems of cash flow, we will be successful.    In Today’s Episode, We Talk About;   - Joe’s real estate journey and career.  - How the growing numbers of real estate agents are colliding with technology and changing consumer behavior.  - How we can capture opportunities in the shifting market.  - How to build systems of cash flow in our businesses.  - Whether real estate agents can compete against big brands in the media space.  -  Steps to take to set yourself up for a better financial future.  -  Top 3 pieces of advice for kicking ass in life. Guest Info   Joe is the Assistant CEO at Keller Williams Realty Alaska Group, an entrepreneur, Broker, Owner at Notch Realty, and owner Fossil Fuel Healthy Donuts.    For more information, join the Legacy Beyond Listings group on Facebook  To get in touch, email joe@joebell.life.

Are iBuyers Good or Bad?