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Is iBuying the Future of Real Estate?
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- Опубліковано 1 сер 2019
- The real reason Amazon partnered with Realogy.
References
00:50 - Google Trends data on "how to buy a house" and "how to sell a house"
01:06 - Hidden costs of buying a house according - Source: Zillow
01:13 - Average time it takes to sell a house - Source: Zillow
01:53 - Where buyers found the home they purchased - Source: National Association of Realtors
02:18 - iBuyers are now able to buy a home in as little as 7 days.
02:37 - 1 in 5 iBuyers purchased a home without visiting it - Housingwire.com
02:46 - iBuying share of homes sold - source: National Association of Realtors
02:52 - Opendoor valuation - source: Zelman & Associates
03:38 - The future of real estate agents - source: National Association of Realtors
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Who is Scott Galloway?
Scott Galloway is a professor at New York University's Stern School of Business, where he teaches brand strategy and digital marketing to second-year MBA students. A serial entrepreneur, he has founded nine firms, including L2, Red Envelope, and Prophet. In 2012, he was named one of the "World's 50 Best Business School Professors" by Poets & Quants. His weekly UA-cam series, "Winners and Losers," has generated tens of millions of views.
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The big dog is back on UA-cam.
I was going through WITHDRAWAL after W&L went away.
Pivot is a decent methadone but THIS is what the veins were craving!
Keep ‘em coming, Scott!
Most underrated channel on youtube. Dense, info heavy, analytics driven industry analysis. These are the conversations we should be having that everyone is too afraid of. I value the lens S4 and W/L have given me for which I can evaluate the business world and make decisions from a place of competitive advantage. As a 24 year old (todays my birthday) who just entered the work force, I eat this shit up!
👍 Gage Clifton
Welcome back! I'll see you next week.
Not one for comments but I am sincerely thrilled Professor Galloway is back, happy to see his content and I wish I could learn how to gather insights the way he does! Keep up the amazing work Big Dog!
Is this Winners and Losers 2.0?
my mom is in real estate and she was just kicking off her career :( thanks for making me aware of this but I want to help her evolve with the times!
@@albundy3929 thanks dude, will do
@Philip Hoskinson thanks, will look into it
I had a similar idea before but they're not using it yet. Turnkey was getting ready for this and Amazon made a good move to partner, instead of local furniture and home stores. That would have been great for them
What software did you use to make this video?
Nice video. Well done
Love the Nathan For You Ghost Realtor reference!
i just love listening to scott galloway! he shoots from the hip...
Just saw this video on an ad, subscribed so fast!
Nice shirt Scotty!
hahah love the cameo from the Ghost Realtor!!
I am not sure if I feel like a winner. These apps have gone wild in PHX and now it’s pretty hard to find anything close to a good deal. They place cash bids immediately put laminate flooring in then put it back on the market at a 5% mark up. Due to a myriad of factors houses the median house price in Phoenix is now over 300,000. Not a huge price compared to other cities but we also get a wage cut that is justified by our “lower cost of living” that keeps on going up.
Andrew Yang has a solution to his problem.
He does
"Like a virus partnering with a host."
Galloway kills!
Target Bezos!!
Fire at will!!!
The Professor is back 👏🏻😇
You're my hero, Scott
"Elect officials who are sensitive to the fact that the new information economy has winners and losers." I bet the Professor is part of the #YangGang
There is a video by Mike Delprete called How to Lose a Billion Dollars in Real Estate Tech which discusses the economics of the iBuying companies and as you can tell by the title of his talk, they have a flawed economic model and I doubt they will be around for very long.
Yay, Scott is back baby
Please tell me your back on youtube!
he is. ua-cam.com/video/vppXa2HHa-c/v-deo.html
What UA-cam channel was he part of before this?
Andrew yang for president
Honestly. Scott for president
Love this big dog channel!! Yeah 🦄
OMG this is sharp analysis! Thanks
Damn this guy just gets to the point.
Where does Scott get his t-shirts?!
Job disappears and new job appears. We shouldn't be afraid of the future.
Sorry Nico, that's rampant idealism you're promulgating. The new jobs are stripped of they're middle class stability, creating massive transference of wealth to the investment class, leaving swaths of working class America sucking for air. Ultimately this perpetuates individualism and incentives short term self centered irrational behavior which is the basis for the modern bullshit driven, everyone for themselves political class. AKA Trump.
The jobs being created in these equity deals simply don't pull a large enough portion of the country to justify political support. Hence political entertainment class.
Go work at one of these gig economy jobs, work out the arithmetic, and then tell me how wonderful the future will be.
Those biceps are getting bigger and bigger professor! Share us a how-to video on that.
Repeatedly lift heavy weights.
This shit fire y'all.
Get 'em Big Dawg!
You forgot to mention they offer the seller anywhere from 50% to 70% on the dollar
Marvin Colon Probably worth it to the homeowner.
Your biceps are huge!
Wholly Sh!!! The boss is back!
Welcome back big dog 🐕!!!
Problem is residential real estate has too many unquantifiable properties. The big inefficiencies in the sales process are based on connecting buyers with houses that have intangibles only perceivable to the buyer.
I get my pseudo mba online from the big dawg... 👊
YAY
I’m here for the big dog... but where is Kara?
We need Universal Basic Income. #YangGang #Yang2020
The real estate industry has so far proven resilient to tech disruption thanks to the "buyer broker commission rule" ( the legality of which currently being evaluated in the courts) which forces North American home sellers to pay the entirety of the commission. This assures a market of home buyers (, who think they pay no fee,) to buy side agents, which in turn makes it difficult for property owners not to hire a sell side agent for fear of missing-out on a large slice of the market. Bottom line, real-estate agents, in aggregate, harm the market. They are paid by home sellers to access demand that would otherwise have been available had sell side agents not interfered. In consequence, the current tech paradigm tends to treat agents as customers as opposed to "disruptees"- see zillow and the way buy side agents pay this company to masquerade as sell side agents so as to reach potential customers. Ibuying may change this in the future, but not because it offers a tech solution, but rather because inequality has finally reached the point where it becomes viable: these companies do not offer competitive rates. They are somewhat predatory and rely on a lack of market transparency, as opposed to a new, tech fueled, RE paradigm.
What¡?, Scott I found you!
Zillow stopped buying homes... how the pendulum swings, again
i still dont get what is this ibuying? u mean buying houses from internet?
i stands for "instant". This is nothing new.
Can't take my eyes off the guns.
Ghost realtor!
I’ve been saying that real estate agents are today’s travel agents. They’re gonners
Fuck! Lol we’re screwed
WTF!!!
I'd be very scared if I were a realtor. Low hanging fruit.
Why the emphasis that she is "white"
He was describing the demographics of the average real estate agent.
I'd be very scared if I were a realtor. Low hanging fruit.