The Insider: Issue 028
Well, we made it nearly to the end of 2021. Thanks for leaving your seatbelts fastened to the 1000watt mystery van. You’re all truly awesome. We are closing out the newsletter this week with a close look at an NFT project we can get behind, and the distinct taste of well-honed core values, among other tidbits. See ya next year, everyone!
Last Week This Week
The year in real estate is fading out like an ‘80s pop song. The press releases are slowing to a trickle, funding announcements are being kicked into January, and many agents we’re talking to are actually experiencing a breather this holiday season.
It’s a nice intermission.
But the 50 weeks of 2021 that lie behind us were something, weren’t they?
Wow:
- Price appreciation continued at record rates.
- Inventory remained tight as a drum in most places.
- The number of Realtors in America hit 1,568,556 in November — an all-time high (and 200,000 more than the pre-crash Realtor surge of 2006).
- Mortgage companies went hard at purchase business: Cash offer lenders (we think this label is more accurate than “power buyers”) proliferated and both Rocket and Better launched real estate brokerages.
- Compass had a disappointing IPO and is worth less than it was as a private company, but continues to grow and create intense competitive pressure in the brokerage world.
- Zillow aborted its iBuyer moonshot, laid off 25% of its employees, and cleared the way for Opendoor to become a world-changing household name... or not.
- Place and Side both became “unicorns” in their quest to help productive pros win in a category glutted with unproductive semi-pros.
- The race toward “end-to-end” transaction nirvana in which real estate brokerage, mortgage, title, and insurance are integrated intensified deeply in an industry in which longstanding federal legislation exists to keep those things apart. Go figure.
This list could go on. But you get it. You likely lived it.
We think 2022 will be at least as eventful.
So pour yourself a warm eggnog, sit by the fire, and enjoy whatever quiet coziness you can make from the last days of one hell of a year!
Have You Heard About This?
New Chapter of a Great Story
Billed as “the first NFT that saves lives,” what appears to be the very first NFT project aimed at increasing housing for people in need launched last week. The “House One Family Forever” project, now live on Open Sea, comes from New Story, the charity organization that’s been building houses for families in need, and that also pioneered 3D printing of homes. Each home on Open Sea is listed for 2 Ethereum tokens (which roughly equals about $8,000 USD) and equates to one real home to be built for a family in need using 3D printing technology. We love the trifecta here of innovation, sustainability, and giving back.
What's Inside
We’re finishing out the year with a final Spotlight Interview, featuring Sean O’Toole, Founder and CEO of PropertyRadar. Sean happens to be one of the nation’s foremost experts on property data, yet he flies just above the usual industry chatter in this area. He’s a voice worth listening to.
While you’re enjoying those holiday cookies, it’s a great time to dig into all the insights you might have missed this year. Log in to your Inside account any time to catch up.
Inspiration Point
These Core Values Taste Great
Core Values is a concept that comes up a lot in the brand work we do with clients. Every company should have them. Heck, every person should have them, as they serve as an internal compass for making decisions and taking action each day. The only issue is that more times than not we hear the exact same core values from one company to the next. We often hear things that we call table stakes — like honesty, integrity, authenticity. Values like this only scratch the surface and end up being vapor and not really guiding anyone to anything special. That’s why we all clamored to dive in and learn from this Core Values page on the Kraft Heinz corporate website. Take a look and see what we mean. “We are consumer obsessed.” “We demand diversity.” “We own it.” The company’s values add more specific direction and definition around their purpose, vision and mission — something that sounds squishy, but becomes critical as any company branches out and grows.
Laughs, Nostalgia, and a Shot of Gin
ββJust for fun, those of us from Gen X in particular really enjoyed the full 4 minutes of this ad (is this an ad or is this a school video project about 80s cultural references?) from Ryan Reynolds. It’s like a walk through time full of hilarious Easter eggs that’s also trying to sell you some Aviation gin. Enjoy!
Quote of the week
"The difference between good and great is often an extra round of revision."
—James Clear
