The Insider: Issue 008

Before we get to it this week, we wanted to let you know that Inside is fully subscribed. We hit our launch goal far faster than expected and have closed off new sign-ups so we can focus 100% on delivering a great member experience. We’ll make a second tranche of memberships available at some point, but for the next few months, it’s heads-down. Thank you for making this happen!

Last Week This Week

• Knock, the first and biggest of the “cash offer” companies, entered its 50th market, Chicago. This business model is absolutely on fire right now. Tons of players, tons of money. It’s going to be interesting to see if this unfolds as a compliment to iBuying or a drag on it. If you can buy before you sell, and avoid having two mortgage payments, why wouldn’t you list the traditional way? Watch what Zillow does (or doesn’t) do here.
  
  
• Realogy reported very strong Q2 results, demonstrating that this battleship can be turned. Yes, pretty much everyone is killing it these days, but we’re impressed. If one had asked the industry “which big incumbent is going to get rolled in this era of transformative change?,” Realogy just called “not it.”
  
  
• Bright, the nation’s second-largest MLS, released a study showing that homes placed on the MLS sell for almost 17% more than homes sold off the MLS. Another interesting tidbit: 63% of listings initially promoted off-MLS as “office exclusives” end up selling on the MLS. These are “failed exclusives,” not simply off-market sales entered ex post facto. The analysis here was thorough, serious, and reviewed by independent economists. If you believe the MLS is a good thing, and are battling companies going big on office exclusives, this study is something you’ll want to weaponize.
  
  

Have You Heard About This?

TikTok and Tacos

Just how important is TikTok marketing these days? So important that big brands are hiring TikTok Managers, and these aren’t entry level gigs. McCormick recently announced that they will pay $100,000 for a Director of Taco Relations role. If this is your dream job, sadly applications are now closed. But we expect to see more brands prioritize short form video apps in their marketing strategy.

What's Inside

We’re adding a new feature to Inside! Members now have the opportunity to book a 1:1 call with either Brian Boero or Marc Davison (1000watt’s co-founders). Visit your Inside library to access the booking link. (Time slots are first come, first served. One appointment per member, please.)

Coming up:

New Original Research on what Millennial renters really think about buying real estate, working with an agent, and the realities of the market.

Brian will do an in-depth Spotlight interview with Guy Gal, Co-founder and CEO of Side, the “brokerage-as-a-service’ startup that was recently valued at $2.5 billion.

Inspiration Point

Musical Meat

To celebrate their 100 year anniversary, the Wright Brothers Bacon Company cooked up an LP recording of bacon sizzling. The recording length is 19:22 to commemorate their founding year. The record's B Side also features interviews with Wright employees conducted at the Vernon, Texas bacon plant.

Released on Vinyl, promoted on TikTok and YouTube, The LP is now on sale at independent record stores around the US.

If you feel stuck with your marketing, you’re probably not thinking expansively enough about what marketing can be these days.

Quote of the Week

“The greatest mistake marketers make is trying to create demand.”

— Eugene Schwartz