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National Real Estate Forum

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I am Doctor Adam Gower, and this is the in-depth podcast about advancing the real estate industry, by bringing together academia and real estate professionals to define the future of the industry, and not be driven by it. The Forum's podcasts are where you will hear academic insights and shared industry experiences that will provide you interesting and innovative perspectives and tools to improve your real estate knowledge, hone your skills, and enable you and your business to thrive.

I am Doctor Adam Gower, and this is the in-depth podcast about advancing the real estate industry, by bringing together academia and real estate professionals to define the future of the industry, and not be driven by it. The Forum's podcasts are where you will hear academic insights and shared industry experiences that will provide you interesting and innovative perspectives and tools to improve your real estate knowledge, hone your skills, and enable you and your business to thrive.
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Location:

United States

Description:

I am Doctor Adam Gower, and this is the in-depth podcast about advancing the real estate industry, by bringing together academia and real estate professionals to define the future of the industry, and not be driven by it. The Forum's podcasts are where you will hear academic insights and shared industry experiences that will provide you interesting and innovative perspectives and tools to improve your real estate knowledge, hone your skills, and enable you and your business to thrive.

Twitter:

@nreforum

Language:

English


Episodes

Ben Miller, Co-Founder, CEO, Fundrise

10/17/2017
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LISTEN TO THIS EPISODE FROM THE SHOWNOTES PAGE The First Mini IPO and Regulation A+ Origins It was from a background of being a real estate sponsor, being an operator and having to raise money that the idea of Fundrise was born. Prior to the 2007/2008 downturn, Miller was raising capital from private equity and insurance fund partners, and in 2008 one of his big financial partners, with some $250 billion in assets, went bankrupt. Coming out of the 2008 recession feeling like there had to...

Duration: 00:32:48


Rod Turner, Founder, Chairman, CEO, Manhattan Street Capital

10/17/2017
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THE JOBS ACT The JOBS Act – Jump Start Our Business Startups – was passed in April 2012 but it was not until March of 2015 that Title IV Regulation A+ was announced. The intention of the Act was to make it easier for small companies to raise capital. The first effective component of the Act was Title II which went effective in September of 2013, extending Regulation D to allow companies to market themselves to raise money from accredited investors via the internet. The biggest change...

Duration: 01:08:14


Nav Athwal, Founder CEO RealtyShares, Crowd Funded Real Estate Deals

10/13/2017
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LISTEN TO THIS EPISODE ON THE SHOWNOTES PAGE Crowdfunding is sort of a misnomer. It describes a format by which investors can pool money with other investors and that capital can then be put to work in a group method to take down larger assets than the individuals alone could manage. The concept is better described as a private, technology enabled marketplace and almost like a wealth management platform RealtyShares specifically is geared towards a high net worth investors and...

Duration: 00:29:42


Chad Syverson - With the demise of retail, will it be the crowd that funds the next generation of main street stores?

10/2/2017
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Professor Syverson looks at what has been going on in retail over the past decade or two. He discovers that, while a lot of the mind share in the industry is focused on the effect of e-retail, more important than e-retail is the rise of the warehouse club and super center format size. While e-retail has, of course, had a great impact on retail, on several dimensions the warehouse club and super center has even more so moved the needle on the way that retail looks, and how stores are...

Duration: 00:28:20


Dr. Scott Wentland: Agency issues and the inevitability of disruption to the status quo

9/19/2017
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COMMISSIONS AND STEERING: THE AGENCY PROBLEM AND INEVITABILITY OF DISRUPTION Today’s podcast was a discussion about three papers, all of which can be found in the shownotes for today’s episode. The papers illustrate another facet of the principal agent conflict that I have been covering in this series 1 of the National Real Estate Forum dot org podcast series. The issues that presented themselves in today’s episode are as follows. SHOWNOTES Non-discount brokers steer clients away from...

Duration: 00:30:53


Darren Hayunga, Agents Buy at a Discount, But Not For Clients

9/3/2017
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The finding that agents sell their homes for more than they do when they sell for clients has been established in multiple studies. While it may not be entirely surprising to see a professional outperform in their own industry, the issue for agents is the fiduciary responsibility that they owe to their clients to act in their best interest. If agents are performing better on their own account than they are when acting for themselves, there appears to be an inherent conflict of interest...

Duration: 00:41:11


Dr. Scott Wentland BEA Dept. of Commerce, neither education nor ethics training mitigate agent conflicts of interest

8/27/2017
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Disclaimer Dr. Wentland is a senior economist at the Bureau of Economic Analysis (BEA), a division of the Department of Commerce, a federal government agency. The BEA produces statistics about the performance of the U.S. economy that are closely watched and influences decisions by government, businesses, and the public. The opinions expressed in today’s podcast and in these shownotes are his own and do not reflect those of the federal government. Leave us a review on iTunes THREE...

Duration: 00:22:33


Professor Rachel Ngai, Hot and Cold Seasons in the Residential Real Estate Market

8/13/2017
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HOT AND COLD MARKETS IN RESIDENTIAL REAL ESTATE The study originated when the co-authors entered the residential real estate market to buy a home and started became aware that there seems to be a regular cycle during which there is more activity in the summer when prices are higher than in the winter months when prices are lower. This is a puzzling scenario because it begs the question: Why would people enter a market during a period when it is known that prices will be higher? Why do...

Duration: 00:42:37


Prof. Christopher Palmer

8/6/2017
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The central bank of a country is tasked with changing interest rates and changing the money supply to try to smooth out economic fluctuations to prevent runaway inflation and to keep employment at full growth. Their task is to stabilize the national economy and the way that they do that is by moving around short-term interest rates. Until recently central banks have had a very strong reluctance to have negative interest rates and from an intuitive perspective this would make sense yet...

Duration: 00:12:35


Prof. Chad Syverson: Agents Sell Their Own Homes for More

7/23/2017
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RESEARCH BACKGROUND The origins of this research came out of personal experience renovating homes and then putting them on the market and wondering what were the dynamics at play when an agent lists a home for sale: What are the agents’ incentives, what kinds of services do they offer, how do they get paid. This led to the question of misalignment of interests between the sales agent and the homeowner. The agent only gets a small percentage of the sales price ‘on the margin’ i.e. the last...

Duration: 00:28:36


Prof. Arjen Siegmann

7/17/2017
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COMMISSION RATES Professor Siegmann's research examined the role of the real estate agent in the house prices transaction, and compared the for-sale-by-fee agent, the new generation of agent that has risen since the advent of the internet, with the performance of the traditional commissioned agent. In the Netherlands, where the study was conducted, commission rates for an agent selling a home is between 1.5% to 2%. This compares with an average of around 5.5% in the United States. In...

Duration: 00:28:04


Professor Jim Conklin: Contact High

7/9/2017
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Contact High Attitudes to marijuana have changed dramatically over the last 50 years. In the 1950’s only 12% of people interviewed approved of marijuana, but in recent Gallop polls that number has increased to over 60%. Now there is a majority of adults in the U.S. support the legalization of marijuana, and as opinions have shifted over the last couple of generations so, slowly, have regulations especially on the State level. As of time of publication, there are 28 states plus Washington...

Duration: 00:19:01


Professor Jonathan Meer & The Famous Stanford Study

7/2/2017
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What Value Does the Real Estate Agent Bring? The question that Jonathan Meer and his co-author Douglas Bernheim set out to answer was, what value does the broker add to a residential real estate transaction? One of the challenges in researching this is that the listing services that an agent provides are generally bundled so it is difficult to separate them out to be able to analyze them independently of each other. These services include listing the property on the MLS, taking...

Duration: 00:42:50


Dr. Greg MacKinnon, Pension Real Estate Association, Real Estate Value Investing

6/25/2017
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Greg MacKinnon, Pension Real Estate Association... ... investing in higher cap rate properties, in less expensive markets nationwide, consistently deliver higher returns on a risk adjusted basis than focusing on quality properties in expensive cities. These results underscore the idea that Value Investing is as valid for real estate as it is for most other asset classes, be they stock, bonds, commodities, etc. and point to alternative real estate investment strategies you may want to...

Duration: 00:47:09


Amanda Hite, President CEO, STR

6/19/2017
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AMANDA HITE, PRESIDENT, CEO STR Amanda Hite joined STR in Jan 2006 when the company had one office in Hendersonville with 65 people. She became president and CEO in 2011 and in that role sets company policy and strategy while overseeing daily operations and implementing initiatives for STR's family of companies: Hotel News Now (HNN), based in Cleveland, Ohio and STR’s international headquarters, in London. She is a member of the boards of directors of the U.S. Travel Association (USTA)...

Duration: 00:49:15


State of the Real Estate Cycle... Apartments Oversupplied; Hotels at All Time High; Industrial the Best Property Type Going!

6/12/2017
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STATE OF THE REAL ESTATE CYCLE: PROF. GLENN MUELLER, DENVER. OFFICE: Demand for office is increasing. The recession is over and all the uses that demand office space are growing. However, technology is changing the way we consume office space. People work from home or use shared office space, and consequently the amount of space required for a new hire has decreased from around 200 square feet, to 120 square feet. Consequently more demand is required to fill space, but with the economy...

Duration: 00:50:39


Impact of Appraisals on the Single Family Home Market

6/2/2017
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APPRAISALS CONTRIBUTE TO BOOMS AND BUBBLES? HOW?! Appraisals contribute to bubbles and exacerbate downturns? How could that be? Well, the Federal Reserve Bank knows and, in today’s podcast, explains just how. Over the last couple of weeks I have been investigating how to set the listing price for a home when it is put on the market, and the impact that a listing agent might have on that process, and have concluded that setting the asking price at around 3-4% above market is the optimal...

Duration: 00:34:26


Time on Market versus List Price

5/21/2017
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The amount of information you can get scanning the internet for a new home is incredible and is rapidly eroding what was once the exclusive domain of the real estate agent. So, what are the skills that the agent needs to focus on to remain relevant? Today is the second in a series of conversations that I am having to drill down on the dramatically changing landscape for the residential real estate industry, particularly as it pertains to the agent function. My guest today, Paul Anglin, is...

Duration: 00:26:33


How do we set listing price when we sell our homes and what value do agents bring to the process?

4/30/2017
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How do we set listing price when we sell our homes and what value do agents bring to the process? Today’s discussion covers familiar ground for most of us because it relates to those times when we are selling our home and how we come to that most important of decisions: the list price. My guest is Darren Hayunga who is professor of real estate at the University of Georgia. In his first paper on the subject, professor Hayunga begins to look at the relationship between list price, how it is...

Duration: 00:27:12


Jordan Levine California Association of Realtors: Housing affordability being driven to lows not seen since the run-up to the last recession: how close are we to another correction?

4/17/2017
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CALIFORNIA HOME MARKET SAME AS MID 1990'S IN SALES VOLUME - BUT WITH 100,000 MORE REALTORS ACTIVE IN THE MARKET Good start in 2017 to the housing market (with particular reference to California). Growth of around 4-6% in home prices in the beginning of the year, which is good, but only around 420,000 sales in the volume terms which is the same as it has been over the last 7-8 years – and indeed about the same as during the 1990’s when the economy was much smaller and with far fewer jobs...

Duration: 00:24:15

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