#ICYMI: March 2019 Real Estate News

By Jessie Trapp, Marketing Coordinator & Tiana Baur, Marketing Manager

 

March 2019 real estate news

March has quickly come to an end and listing season is coming in hot! We’re excited that Spring has finally sprung and can’t wait to see what Q2 has in store for the real estate industry. As always, we’ve boiled everything down that happened this month to the key stories you need to know to stay up-to-date with the goings on in our industry.

In case you missed it, here are the top five March 2019 real estate news stories to know:

1. “Coldwell Banker Announces ‘Project North Star’ Rebrand—Its First in 40 Years”

After four decades, Coldwell Banker hit the makeover button and got an entirely new look. According to RISMedia, “The announcement was made at the brokerage’s convention, the Generation Blue Experience, on Monday, where the company debuted a fresh logo, which combines the ‘C’ and ‘B’ intersection with a star—evocative of its 113-year history, reliability and steadfast vision, now all the more critical in an evolving industry. The beloved blue coloring, Pantone 280, remains the same.”

Kudos to CB for embarking on a new journey with an innovative new look! You can check out some of the new branding (and a surprisingly exciting video) here.

2. “New Windermere campaign highlights agents who go the extra mile — sometimes literally”

So, this is one deserves a spot in the top five March 2019 real estate news stories to know for one blatantly obvious reason: Windermere is showcasing the awesomeness of their agents. “The new campaign’s tagline is ‘All in, for you’ and features the real-life stories of Windermere agents who have gone the extra mile. The campaign includes TV, print, digital marketing, outdoor ads and partnerships with media companies. TV ads begin airing in the Seattle market today,” wrote Inman News.

Words can’t describe how much we love this!! You can listen to some of the insane stories here.

MoxiWorks

3. “Realtor.com tests replacing its lead-gen with Opcity, angering brokers”

Not all the top news stories can be feel-good, right?! Unfortunately, when news broke that realtor.com is replacing its lead generation service, it sent many agents into pure, unadulterated, panic mode. It will instead be, “replaced with Opcity, a startup that was acquired by News Corp., the parent company of realtor.com’s operator Move Inc., last year for $210 million,” according to Inman News.

If this news were an emoji, it would be mixture of “grimacing” and our favorite: “face with steam from nose.

4. RealScout released a short film

RealScout hit us with a new video this week – have you seen it yet?! It’s all about the ongoing resource war and the impending doom leering over us all because of it. It discusses the “battle for consumer data deciding the future of the real estate industry” and asks, “can traditional real estate keep up?”

Spare a few minutes today to watch it – it’s well worth it.

5. “Unlikely allies: Redfin and RE/MAX are teaming up”

According to Inman News, “RE/MAX and Redfin announced a new partnership today that will give RE/MAX agents exclusive access to Redfin’s agent referral program — at a discounted rate — in 5,000 U.S. ZIP codes and throughout Canada, where Redfin recently launched its home search website.” That’s it.

 

Thanks for reading and stay tuned for another #ICYMI next month!

P.S. If you’re into podcasts (and if you’re not, you should be) we have our very own! Episode #3 of the REAL with MoxiWorks podcast featuring Chris Kelly, CEO of Ebby Halliday, is out now. Have a listen!

Posted on March 29, 2019 at 4:15 pm
Tiana Baur | Category: News | Tagged , ,

In Case You Missed It: February 2019 Real Estate News

By Jessie Trapp, Marketing Coordinator & Tiana Baur, Marketing Manager 

 

MoxiWorks

It’s almost the end of Q1 already?! That’s okay, we’re happy winter is almost over – MoxiWorks HQ experienced a bit of a snowstorm. Aside from that, MANY notable things happened in our industry in February. As always, we’ve boiled it down to the key stories you need to know to stay up-to-date with the goings on in our industry.

In case you missed it, here are the top five February 2019 real estate news stories to know:

1. Compass acquired Contactually

So… this happened. Compass bought Contactually and it set off some anger (but also many congrats) in the industry – just checkout the comments. We’re not sure what else we can say that hasn’t already been said by our CEO.

2. There was a giant conference

LeadingRE held their annual conference in Las Vegas (is it just us or did Vegas become the event city of the universe?) and everyone had a blast. We even held a wine event and got to learn some major pointers from a notable sommelier. Want to see some pics from the LeadingRE conference? We got you.

3. Amazon backs out of HQ2 New York campus deal

Well, we can’t say we’re too surprised. According to Inman, “Amazon’s decision to abandon New York City came after, and in response to, fierce opposition from area politicians and some locals.” In December’s #ICYMI, we wrote about just that saying, “their new headquarters in NYC and D.C. are sparking fear and anxiety with residents. Why? They’re worried about being priced out of metro areas. If Seattle’s market history is any indication, the outlook is less than ideal.” Basically, those in the real estate industry are none too happy, but we bet there are some locals rejoicing.

4. Rich Barton, co-founder of Zillow steps back into the role of CEO

After a less than ideal earnings report came out, Zillow made the decision to give Spencer Rascoff the boot, replacing him with Rich Barton, the co-founder of the tech giant. According to Inman, Barton said, “We decided to rotate seats a bit, and Spencer will step out of day to day but continue as an indispensable advisor and overseer on our board of directors.” We should note that under Rascoff’s leadership, the company grew to more than 4,000 employees. But as we like to say at MoxiWorks, what got us here won’t get us there.

5. Keller Williams announces 3 new international markets

Keller Williams is making some serious money moves. They announced that they’re expanding to Chile and Ireland and will soon launch in Italy. Turns out that, “As of Nov. 19, 2018, Keller Williams expanded into six new regions with 31 market centers and a net gain of 1,812 agents in 2018. The company now has more than 7,400 agents operating outside of the United States and Canada.” Wow.

 

There you have it! Thanks for reading and stay tuned for another #ICYMI!

 

P.S. If you’re into podcasts (and if you’re not, you should be) we have our very own! Episode #2 of the REAL with MoxiWorks podcast featuring Matthew Ferrara is out now. Have a listen!

Posted on February 28, 2019 at 5:44 pm
Tiana Baur | Category: News | Tagged , , ,

MoxiWorks CEO Has Some Words About Compass Buying Contactually

By York Baur, CEO of MoxiWorks

 

MoxiWorks

Remember when Booj was acquired and you lost your CRM?

Déjà vu.

If you haven’t heard the news pouring out today, Compass has announced that they’re acquiring Contactually, a major player in the real estate CRM space. You might recall my Open Letter from last summer, in which I challenged and questioned Compass’ assertions about their technology. I’m not surprised by today’s news – it’s proof that Compass struggles to build technology, specifically a CRM, in spite of having 175 engineers on staff. However, it’s important to discuss the implications many brokerages are now being forced to face.

  1. Your technology is now controlled by the competition aka Compass. You will not continue to get everything you need from them as your tech provider. And maybe nothing. More on this below.
  2. Compass can and probably will cancel your contract. Compass doesn’t want their competition using their technology either. In fact, today Compass revealed they “are evaluating long-term support services beyond 2019.”
  3. You’re probably thinking of changing your technology that you have from Contactually. After all, you still need to compete.

Compass is a closed platform, not an open platform.

Inman reported that, “The main difference between the two CRMs going forward will be on the integration end… Compass’ CRM will be the only one allowed to integrate with Compass’ current tech stack, including its Collections and Marketing Center programs.”

Aka, they have a closed platform. When you choose to switch tools, or those tools fall into enemy hands, that means you can’t connect the technology your agents love, you lose your current investments, your hands are tied for any tech you’re interested in down the road, and most important of all: you lose all of your data.

With an open platform you get all this flexibility and more, and crucially, your data is retained regardless of the tool changes you make. Finally, an open platform helps you compete in the real estate technology war, including against Compass.

You won’t be getting the attention you deserve.

Their plan is to have a “small team of engineers continue to work on Contactually’s current offering for brokerages outside Compass, while the bulk of work will be on powering and enhancing Compass’ CRM.”

Chances are when something in your CRM or connected tech stack breaks, it’ll be bottom of the priority list – and that’s even if it makes the list. You are now automatically less important (whether they admit it or not). You deserve more, your agents deserve more, and at the end of the day, your clients deserve more since this will have a trickle-down effect as well. If you don’t believe us, remember that Compass did this exact thing last summer.

 

So, here’s our not-so-shy pitch to you:

No brokerage would ever sell their technology to Compass.

There’s no scenario in which MoxiWorks would ever be sold to Compass, because we are owned by brokerages that compete with them.

Rock, meet paper.

Inman says that, “Contactually’s client base includes eight of the country’s top 20 brokerages, according to the company.” While that stat is noteworthy, I can’t help wondering what that actually means – how do they make brokerages better? After all, it’s about making agents more productive, which super charges your recruiting and retention.

MoxiWorks clientele consists of over 70 brokerages with 120,000 agents that represent 9% of all agents in the U.S. that account for 13% of transactions in the U.S. We mean it when we say we make agents more productive: 40% more productive in fact. If you look specifically at our CRM, MoxiEngage, agents do 54% more business on average.

50 Partner Companies + Over 100 Live Integrations

Over the past several years we’ve developed our MoxiCloud partner program to 50 best-in-class solutions that our brokerages clients can add to their tech stack. These partners include:

  • RealScout
  • Imprev
  • Buyside
  • MoveEasy
  • DocuSign
  • QuantumDigital
  •  + many more

RealScout, for instance, is a great example of the power of an open platform and the MoxiWorks partner program in general. RealScout has made great investments in integrating with us and continues to deliver for tens of thousands of agents using the MoxiCloud. Here’s what RealScout Co-Founder Andrew Flachner, had to say:

“I know first-hand how well the MoxiCloud has been working for our shared brokerage partners. A broker and an agent’s responsibility extend to guiding and managing their clients’ digital workflow. MoxiCloud makes this easy and reliable, and their excellent 3rd party integrations, including a robust one with RealScout, makes it simple to construct a true best-in-class offering.”

Take a glance at what this integration looks like here.

We don’t lose customers. And our clients don’t lose their agents.

We give every client of ours the same priority and voice at the table – we don’t leave them to fend for themselves. Every brokerage and agent using MoxiWorks tools gets the most updated version of our technology, and we add the majority of our new features for free, so a brokerage’s tech investment goes further, and they provide more value to their agents, for no extra cost. And our 98% satisfaction score proves it.

If you need further proof of the kind of brokerages our clients are vs. Compass, here’s a quick stat on their retention:

MoxiWorks

 

So, here’s my final question to you: If this isn’t enough to convince you why you need to be on an open platform, then what is it going to take?

 

 

 


 

 

Looking for a new CRM? MoxiEngage was built specifically for your agents. Here’s what it can do for your agents:

MoxiWorks

Posted on February 27, 2019 at 9:44 pm
Tiana Baur | Category: News, Open Platform | Tagged , , ,

In Case You Missed It: January 2019 Real Estate News

By Jessie Trapp, Marketing Coordinator and Tiana Baur, Marketing Manager

 

MoxiWorks

2019 started with a bang – and no we don’t just mean fireworks. 31 days in and there’s already more than enough new stories, headlines, and goings on in the industry to keep us preoccupied. But don’t worry, we’re sticking to the top five! Someone has to weed through the noise and we’re more than happy to do it.

Without further ado, here are the top five January 2019 real estate news stories to know ( in case you missed it):

1. Ex Keller Williams CEO writes an open letter

The Keller William’s OG, Gary Keller, announced he’s taking the throne back. The outgoing CEO, John Davis, however had some words and he did not like the speculation around his sudden departure – so he wrote an open letter. In this letter he clarifies that he resigned.

P.S. We’re totally into his open letter concept. You could even say this cool company we know might’ve even started the trend last year. #winkwink

2. Inman Connect NY is in full swing

Inman Connect – this month’s biggest event – is happening right now. Brokerage leaders, techies, real estate agents, and more are all getting their connections on in the Big Apple. Did we mention it’s located in Time Square? Not too shabby.

There’s one very important part of this annual trip that is getting extra attention this year: desserts. To all those attending this event, instead of taking your usual coffee/snack break, how about gelato or mini pies instead? Our mantra: Life’s uncertain, eat dessert first.

3. Swanepoel released its annual T3 Power 200

Swanepoel made a list and they checked it twice. Ron Peltier, the CEO of HomeServices of America got the win, making him “the most powerful and influential person in real estate.” T3 Sixty has eight different criteria when making the list, including, “the office leaders hold, their tenure, the size of the company they lead, its financial resources, their significance and impact on the industry, their company’s activities in the previous year, other activities outside their own company and their personal power and influence.” We’re proud to say many of our clients and partners (and even our CEO) made the list!

4. Major companies are making moves and impacting real estate in a big way

According to our friends at RISMedia, “Now, Google and Apple are hopping onboard the expansion train, promising new jobs outside the West Coast which could attract an influx of relocating talent, possibly putting a strain on the local housing markets.” Along with Amazon, Google (adding 7,000 jobs) and Apple (adding 100 jobs) also have their sights set on NYC. All eyes are on how this will continue to impact the housing markets over there.

5. Taylor Swift x real estate drama?

Taylor Swift found herself in the middle of a Douglas Elliman lawsuit with former real estate agent over her Manhattan townhouse. Long story short: Douglas Elliman claimed the agent was wrongfully left out of the deal. They did not win, instead, the case was thrown out by the judge. Swifties everywhere are hoping this inspires another “Bad Blood” original.

6. York Baur (MoxiWorks’ CEO) Jumped into a lake. In a cloud suit. In January.

Okay, so we may have lied. We’re sticking to six notable new stories this month, but only because our CEO did the POLAR PLUNGE. York jumped into some chilly waters to celebrate the fact that the Moxi Fund absolutely CRUSHED its fundraising goal, releasing more than $17,000 to the charities within our local Seattle community in 2018. Thank you to all of our employees, clients, vendors and partners who donated to the Fund and made this epic moment happen. A bet’s a bet!

There you have it! Thanks for reading and stay tuned for another #ICYMI!

Posted on January 31, 2019 at 5:04 pm
Tiana Baur | Category: News | Tagged , , ,

MoxiWorks Partners and Clients Fill 2019 Swanepoel Power 200 List

2019 Swanepoel Power 200MoxiWorks is honored to have York Baur, our CEO, be recognized as an industry leader in the 2019 Swanepoel Power 200, which “ranks the most powerful leaders in the residential real estate brokerage industry,” as published by T360. Along with MoxiWorks, many of our brilliant clients and partners were featured on the list as well. We want to give them all a shout out – it is a privilege to work with all of these amazing people!

  • Windermere Real Estate: OB Jacobi, Jill Jacobi Wood, Geoff Wood – Managing Principals
  • Long & Foster Real Estate: Wesley “Wes” Foster – Chairman & CEO, Jeff Detwiler – President & CEO, and Cindy Ariosa – SVP
  • Hanna Holdings: Howard “Hoddy” Hannah and Helen Hanna Casey – Chairman & CEO
  • Howard Hanna: Howard “Hoby” Hanna IV – President
  • Coldwell Banker Real Estate: Charlie Young – President & CEO
  • Coldwell Banker Residential Brokerage: Jamie Duran – President, Orange County, Desert Region & San Diego Companies
  • William Raveis Real Estate: Christopher “Chris” Raveis and Ryan Raveis – Co-Presidents
  • Lyon Real Estate: Pat Shea – President
  • Realty One Group: Kuba Jewgieniew – Founder & CEO, and Vinnie Tracey – President
  • Crye-Leike Realtors: Harold E. Crye – President & CEO
  • Michael Saunders & Company: Michael Saunders – Founder & CEO
  • Intero Real Estate Services: Tom Tognoli – President & CEO
  • Realty Austin: Jonathan and Yvette Boatwright – Co-Owners

Along with our wonderful clients, we also have some truly amazing partners. In fact, MoxiWorks has a growing list of over 40 integrated partnerships as part of the MoxiCloud open platform. Not surprisingly, many of our world-class partners made the 2019 Swanepoel Power 200 with us:

  • QuantumDigital: Eric Cosway – EVP, and Freddie Baird – President
  • Skyslope: Tyler Smith – Founder & CEO
  • DocuSign: Georg Gerstenfeld – General Manager of Global Real Estate Solutions
  • LeadingRE: Paul Boomsma – CEO
  • Buyside: Charles Williams – CEO
  • RealScout: Andrew Flachner – CEO
Posted on January 15, 2019 at 8:16 pm
Tiana Baur | Category: News | Tagged ,

In Case You Missed It: December 2018 Real Estate News

By Jessie Trapp, Marketing Coordinator & Tiana Baur, Content Marketing Manager

December 2018 Real Estate NewsDoes anyone else feel like they blinked, and an entire year passed? It’s hard to believe another year has come and gone, but we’re excited for all sorts of fun new products and good Moxi stuff to hit the market in 2019! However, we can’t move forward without taking a quick glimpse back at the last month in 2018.

In case you missed it, here are the top five December 2018 real estate news stories to know:

1. Look Who’s Sharing Now: Airbnb Moves Into Construction and Real Estate Markets

Airbnb is coming in hot to the real estate development industry. According to RISMedia, “Airbnb is looking to leave its imprint in a more concrete way: designing, building and sharing homes based on contemporary lifestyles.” They’re gearing up to test prototype units as early as fall 2019. While construction completion dates aren’t exactly set in stone, there’s one thing that’s certain: this initiative is just the beginning for Airbnb.

2. Amazon to Spark Massive Real Estate Shift in NYC and D.C. Markets

Amazon is shaking things up… not that that’s news. However, their new headquarters in NYC and D.C. are sparking fear and anxiety with residents. Why? They’re worried about being priced out of metro areas. If Seattle’s market history is any indication, the outlook is less than ideal. In fact, in our home city of Seattle, the “median home value has increased dramatically by 73 percent to $739,600 over the past five years,” according to Zillow. East Coast friends, we have our fingers crossed for you.

3. Portland real estate offices targeted with violent graffiti

According to Inman News, “Vandals spray-painted threatening words including ‘die,’ ‘gentrification’ and ‘get out’ on the windows of two Portland, Oregon real estate brokerage offices over the holiday weekend.” Apparently, the talk of gentrification in Portland has grown a lot, and unfortunately, someone stooped to this level to be heard.

4. RE/MAX hires Under Armour vet, tech founder as new execs

RE/MAX hired Kerry McGovern, from Under Armour, as its new VP of Communications, overseeing all of RE/MAX and Motto Mortgage’s (their fast-growing franchise) internal and external communications and social media. We’re wondering if the dramatic change has anything to do with Under Armour’s lack of performance this year, but who really knows.

Jerry Modes was hired as RE/MAX’s new Senior VP of Information Technology. He is known for co-founding tech companies Teradata and HyperParallel.

5. Compass hiring 100 more engineers for Seattle tech hub

Saved the best for last. Compass announced they are launching a Seattle-based campus, hiring 100 more engineers (although, a little birdie told us it was hundreds). Their CTO stated that, “Seattle is home to some of the best visionary technology leaders and engineers in the world,” and honestly, how could we disagree with that?!

We hope you all have an incredible (and safe) New Years! See you in 2019.

Thanks for reading. Stay tuned for another #ICYMI!

Posted on December 28, 2018 at 3:29 pm
Tiana Baur | Category: News | Tagged , , ,

In Case You Missed It: Real Estate News November 2018

By Jessie Trapp, Marketing Coordinator & Tiana Baur, Content Marketing Manager

Real Estate News November 2018 header imageAnother whirlwind month in the world of real estate. Lots of turkey has been had and new trends have emerged. Like always, we want to help you sort through all of the noise and find the news that will impact or has impacted our beloved industry. It’s important to stay in the know for you and your clients!

Here are the top five stories to know for November 2018:

1. It’s official: Amazon HQ2 coming to NYC, Northern VA

Real estate agents are popping bottles all over the greater DC and NYC areas. Amazon has chosen both cities for new headquarters, bringing, “over 25,000 jobs and invest $2.5 billion in each of the two locales.” While potential home buyers and residents might not be stoked about inevitable rising home prices, you can bet the agents are! Like we have experienced in Seattle (the OG Amazon headquarters), the new Amazon HQs are likely to have a direct impact on home prices in both cities.

2. California’s Most Devastating Wildfire Scorches Entire Town

We know you know that these wildfires happened. We also know that Giving Tuesday has come and gone, but we’re putting this in our #ICYMI to remind you that there are many, many people who lost their homes, and no, they’re not all wealthy celebrities. Thousands of acres burned, thousands of homes burned down, hundreds of people are missing, and many lost their lives. Please consider donating to those impacted, including the firefighters that put their lives on the line.

3. Realtor association becomes first in nation to offer health plan

It’s no secret that Real estate agents are independent contractors, and with the territory comes getting to run their own business and set their own schedules, but also comes with lack of benefits, namely healthcare. Yet, that hasn’t stopped an association in Southern Alabama from providing it anyway. According to Inman, “The Baldwin County Association of Realtors says it’s the first in the nation to offer group health, dental and vision insurance plans that treat its 2,300 members, who are largely independent contractors, as employees of the association.” #Winning

4. Inman announces partnership with Sotheby’s International Realty, launches ‘Leading In Luxury’

On November 5, Inman announced their new section, Leading In Luxury, “a new sponsored section of Inman.com which brings Inman readers luxury lifestyle and creative insights into the latest trends from one of the world’s most respected luxury real estate brands, Sotheby’s International Realty. The new section will feature experts from Sotheby’s International Realty discussing trends, best practices and innovations in luxury real estate.” #ICYMI, partnerships are the new normal in real estate (we have over 40 of them). Chances are, headlines like this are going to be on the daily in 2019.

5. Windermere Real Estate acquired 50 percent of West Coast Commercial Realty

If you didn’t know, Windermere Real Estate is a REALLY big deal in the Pacific Northwest/West Coast. So when they announce that they’ve “acquired 50 percent of West Coast Commercial Realty (WCCR) to further expand its commercial real estate presence in the Pacific Northwest,” you bet our ears perked up. P.S. they’re part owner in MoxiWorks as well. Kudos to Windermere for making major moves!

Friendly reminder that 2019 is rapidly approaching and you should be thinking about how you’re going to crush it and boost your biz. First things first though: write down your goals. It’s proven that defining a goal and writing it down is one of the most important aspects of achieving it. As we all know, you can’t achieve a goal if you haven’t set one! Hurry – go grab a pen and paper!

Thanks for reading. Stay tuned for another #ICYMI!

Posted on November 30, 2018 at 4:05 pm
Tiana Baur | Category: News | Tagged ,

In Case You Missed It: September 2018

By Jessie Trapp, Marketing Coordinator & Tiana Baur, Content Marketing Manager

September 2019 real estate newsLadies and gentlemen, it’s finally Fall. That means we can spend more time focusing on hitting our Q4 goals and less time sitting in our own sweat – hooray! September was chalk-full of events and news stories that impacted the real estate industry, so without further ado, here are the top five stories to know:

1. RISMedia’s 2018 Real Estate CEO Exchange

RISMedia held their 2018 Real Estate CEO Exchange. Our CEO had some takeaways. Leading Real Estate Companies of the World® CEO/President, Paul Boomsma, totally rocked the keynote – to say the least.

A couple key quotes from Boomsma via RISMedia:

“There are 350 languages spoken in the U.S., and 22 percent of the country now speaks something other than English at home,” added Boomsma. “We need to be thinking about inclusivity, and be inclusive of all groups,” citing the growing influence of the Asian American, Hispanic and LGBTQ segments.

“The world, in my opinion, is so filled with noise,” said Boomsma. “I think part of our job is to provide a certain amount of peace. Being gracious is something that’s been overlooked, and I think it’s something we have an opportunity as leaders to instill in our organizations. Gracious people are kind and their behavior is characterized by tact. Graciousness may be superficial, but sometimes what’s on the surface is good enough.”

Paul – thank you.

2. “Hurricane Florence: 42 Deaths, Housing Shortages and Increasing Flooding Dangers”

As we all know, Hurricane Florence hit the Carolinas and wreaked havoc on the entire region. Over 42 people lost their lives to the hurricane. There has been over $22 billion in damage done. RISMedia said that, “According to realtor.com, the hurricane could create a months-long stall in home sales and construction.” If you would like to donate to The South Carolina REALTORS® Foundation for disaster relief efforts, please do so here.

3. “Zillow breaks into lead referral business”

Inman News says that Zillow is “testing a new referral service in Florida that could shake up how it does business, and for the first time in the company’s history, earn a piece of the real estate commission pie.” No word on how big that piece will be, but the program will fall under their Premier Broker lead-gen umbrella.

4. “Compass rolls out ‘Coming Soon’ pre-marketing blitz nationwide”

Compass Coming Soon” allows agents to market their properties before they are listed on the MLS. Some are saying this is shady, others are saying that this is by no means in the same category as whisper listings, especially since they don’t appear to anyone and everyone on the brokerage’s site. Makes sense to us.

According to Inman News, “Indeed, early or exclusive listings are extremely common, particularly among high-end clients who expect to know about a property before it hits the market. Some of the properties currently listed in Compass’ off-market category include a $3.95 million mountain villa in Aspen and a $5.3 million home in the Hamptons.” We’ll let you be the judge.

5. “Hamptons agent serenades buyers with original country song about $2M property”

Capping off this month’s #ICYMI is a story that should give you a bit of laugh. Apparently when life gives you lemons – and a great voice – you write a country song about your listing. Why not, right? After watching that video it’s clear this Douglas Elliman agent, Telly Karoussos, is definitely not afraid to break out the guitar and do something quirky to sell a home. While the Hamptons home has gotten its moment in the spotlight, the listing is still on the market with plenty (too many) photos of said guitar with it.

What do you think October has in store for us? I have a feeling some people out there will make headlines for questionable Halloween costume choices. Which reminds me, take a moment to think before you decide to wear costumes to work! If even a teeny tiny part of you is thinking, “hmm don’t know if this is appropriate,” then it’s not appropriate. I guess what I’m saying is, don’t give us more to write about!

Thanks for reading. Stay tuned for another #ICYMI!

Posted on October 1, 2018 at 3:11 pm
Tiana Baur | Category: News | Tagged , , , , , ,

Examining California’s New Solar Power Requirement and What it Means for Buyers

By Jessie Trapp, Marketing Coordinator

California’s New Solar Power Requirement header image

California has long been known as a trendsetter within the realm of green energy, but it recently had a “mic drop” moment that could set the tone for the future of renewable energy integration in homes.

That moment took place during May of 2018, when the Golden State became the first to pass a requirement for newly built homes to have solar panels on their roofs. The new standards are part of a major step towards California’s goal to make renewable energy the producer of a whopping 50% of its overall electricity by 2030, which was set in 2015.

Although the mandate issued by the California Energy Commission won’t go into effect until 2020, it’s likely at the top of minds of many who are considering buying a house in the not-so-distant future.

What does solar power currently look like in California? An article by The New York Times regarding the new requirement states that, as of the end of 2017, solar power makes up “almost 16 percent of the state’s electricity, and the industry employs more than 86,000 workers”. This makes California the undisputed leader in the realm of solar power energy in the US.

How will the requirement affect home prices? The addition of solar panels is expected to add $8,000 to $12,000 to the initial cost of participating homes. Not to worry – the California Energy Commission claims that “based on a 30-year mortgage, (it is estimated that) the standards will add about $40 to an average monthly payment, but save consumers $80 on monthly heating, cooling and lighting bills”. That being said, what may seem like a hefty chunk of change in the minds of your clients at first is really a massive money saver in the long-run.

How does this affect you, the agent? As renewable energy sources such as solar power slowly become the norm, they will likely become increasingly expected by homeowners. For now, you can utilize the coming changes as an opportunity to highlight existing solar power features in homes as being ahead of the game. If you want to emphasize the cost saving benefits they can provide to clients, visit a site like Project Sunroof to get accurate estimates of their solar power savings potential.

What about the other states? California may be the first to make groundbreaking moves when it comes to solar power, but it is unlikely to be the last. California will serve an experiment for other states to observe and study before they attempt to implement rules and requirements of their own towards the adoption of renewable energy.

Want to see how your state stacks up in the ranks of solar power integration ranks? Find the rankings here.

Posted on September 17, 2018 at 4:54 pm
Tiana Baur | Category: Meeting with Clients, News | Tagged , ,

In Case You Missed It: August 2018

By Jessie Trapp, Marketing Coordinator & Tiana Baur, Content Marketing Manager 

virtual brokerages header imageSummer is coming to an end and I think most of us are excited for it to cool down (but also for the holidays, sweaters, and an excuse to go to bed a little bit earlier). August was another exciting month for all of us at MoxiWorks and for the industry as a whole. So as per usual, we wanted to sort through the weeds and deliver the most notable headline summaries for this month.

Here are the top five real estate news stories to know:

1. “Talk of the inventory drought easing up”

Pop a bottle of bubbly because apparently there’s some easing up on inventory shortages. However, on the unfortunate side of things, it’s mostly in the higher-priced tier of homes. According to RISMedia, “In July, the inventory of listings priced $350,000-plus was up 5.7 percent but inverted in the lower segment—dropping 15.6 percent at $200,000 and under. Inventory in the $200,000-$350,000 range slipped 0.6 percent.” Plus, they said that, “inventory is down 4 percent year-over-year, which is half the average 8 percent observed in the past year, and inventory in 16 of the largest markets has risen year-over-year.” That’s some good news.

2. “KW to launch virtual brokerages for expansion business owners”

Keller Williams is diving into virtual brokerages. When was this decided you ask? Keller Williams had a Mega Camp aka business retreat and announced it there. According to Inman, the “new business model will be available to 166 expansion businesses, representing 509 locations and 3,433 real estate agents.” Alright, alright, alright.

3. “NAHB: Affordability Hits Lowest in 10 Years”

In less thrilling news, things are getting seriously expensive and many of us can’t afford to hop into the housing market just yet. In fact, according to the National Association of Home Builders, affordability has hit its lowest in 10 years. And only “57 percent of homes sold in the second quarter were affordable based on income, down from roughly 62 percent in the first quarter.” #WhyTho

The most affordable major metro in the second quarter, based on income and local median price was Syracuse, New York.

4. “Deadly California Wildfires Claim Lives and Real Estate”

On a serious note, our heart goes out to all those in California who have had to deal with the wrath of the many fires burning, destroying, and devastating communities across the State. Just one fire in California alone burned “160,049 acres across Shasta and Trinity counties (at press time), as well as destroyed over 1,000 homes, 24 commercial buildings and 500 other structures.” To all the insanely brave firefighters out there, we salute you and thank you.

5. “Compass to acquire Pacific Union in blockbuster deal”

Compass is acquiring Pacific Union International Realty (who is based in San Fran and did a casual $14 billion in sales last year) and the announcement was a bit of a plot twist

P.S. In other random real estate news, there’s a Men of Real Estate shirtless swimsuit calendar featuring Keller Williams agents in Chicago. Did not see that one coming. 

Phew – what a month. Any guesses for the biggest headlines in September? Stay tuned for another #ICYMI!

Posted on August 31, 2018 at 3:32 pm
Tam Nguyen | Category: News | Tagged , , ,