Over the past year that we have been publishing the Red Dot reports, we have identified the signs that the real estate industry is undergoing fundamental transformation. What was once based almost entirely on local professionals and their relationship with consumers is slowly transforming into something new, something else.
The Q4/2018 earnings results from the public companies in this space make clear what we have been spotting since last year. Longtime readers could not have been surprised at the vision that Rich Barton, the new CEO of Zillow, laid out upon taking back the head job from Spencer Rascoff, even if we were mildly surprised at the speed and aggressiveness coming out of Zillow.
At the same time, the dismal results from Realogy for 2018, after a full year of trying to address their deep problems with growth and profitability could not have been particularly surprising to longtime readers either.
Most of what we saw in Q4 confirms most of our major theses throughout the year of transformation, but they are worth digging into in some detail to see what went on yesterday, what’s going on today, and what the future will hold.
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Over the past year that we have been publishing the Red Dot reports, we have identified the signs that the real estate industry is undergoing fundamental transformation. What was once based almost entirely on local professionals and their relationship with consumers is slowly transforming into something new, something else.
The Q4/2018 earnings results from the public companies in this space make clear what we have been spotting since last year. Longtime readers could not have been surprised at the vision that Rich Barton, the new CEO of Zillow, laid out upon taking back the head job from Spencer Rascoff, even if we were mildly surprised at the speed and aggressiveness coming out of Zillow.
At the same time, the dismal results from Realogy for 2018, after a full year of trying to address their deep problems with growth and profitability could not have been particularly surprising to longtime readers either.
Most of what we saw in Q4 confirms most of our major theses throughout the year of transformation, but they are worth digging into in some detail to see what went on yesterday, what’s going on today, and what the future will hold.
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