Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
CommissionTrac
Many of us are currently grappling with high-impact decisions that will change the way we operate our brokerage businesses in the future. For significant issues that deal with solutions with long term effects on your brokerage business, the concept of “scenario thinking” can help improve decision making.
Globest
SAN FRANCISCO—With COVID-19 now a global emergency, the heightening of travel restrictions, limitation of mass gatherings and social distancing, and people being required to work from home are all affecting multiple sectors including the real estate industry. Sellers targeting foreign buyers for instance, are recording drops in very high percentage rates.
The Real Deal
Redfin just got a $110 million shot in the arm from an influential backer, as the discount brokerage looks to ride out economic turmoil caused by coronavirus.
ARETAILSPACE
Real estate innovates in the physical world. Tech innovates in the digital world. To Michael Beckerman, they’re the same.
FUTURE PropTech
The Future Workplace special report, published in The Times, explores the importance of workplaces that look after and trust their employees. It looks at how tech has made communication easier but might be making you lonelier at work, how repurposing unused shops can bring talent to towns in need of new business, if the WeWork model is working, and more! Download the full 20 page report today.
Smarking
Description: Join Smarking tomorrow, 3/31 at 10am EDT: Navigating through the ambiguity from a parking data view. Featuring Peter Opoku of LaSalle Investments and Rodolfo Pena of Macerich, hosted by Dr. Wen Sang, CEO of Smarking. Bringing together our community for an open conversation on navigating through the unknown, day by day, with a data approach. Register to join: https://register.gotowebinar.com/register/5981991273204797708…
The Real Deal
Flex office company Knotel slashed its 400-person workforce by half, as the coronavirus pandemic has drained the unicorn startup’s membership base.
Bloomberg
WeWork says it doesn’t expect to hit its 2020 financial targets as it grapples with the coronavirus outbreak. The impact of the virus “will likely have a negative impact” on the company, including on forward-looking information that it previously disclosed, Chief Executive Officer Sandeep Mathrani and Executive Chairman Marcelo Claure wrote in a letter to bondholders on Thursday that was obtained by Bloomberg. …
Wall Street Journal
Oyo Hotels and Homes, which built itself into the world’s second-biggest hotel chain by total number of rooms, is phasing out an important tool that fueled its rise.
The Real Deal
Agents at real estate brokerage Redfin are getting a reprieve and the CEO is forsaking compensation in light of the coronavirus pandemic. Glenn Kelman, the CEO of Redfin, said he will give up pay for the remainder of the year, according to a report in Inman. Agents at his company will get an increase in their fixed pay to make up for the drop-off in transactions. The members of its board also agreed to forego cash payments for their services, and all employees at the company’s headquarters will …
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