NRE Forum Podcast

Released weekly on Mondays, the National Real Estate Forum Podcast is hosted by Dr. Adam Gower.  Cutting through the clutter, the series features discussions with some of the world's foremost real estate experts both in academia and in industry.  Just hit Play to listen to the shows, and subscribe at the links below.

Episode List:

NRE Forum Podcast #22:  Double Sided Agency a Barrier to Market Disruption - But Not For Much Longer

Discovering that when agents sell their own homes, Prof. Chad Syverson finds that they sell for more and are not as rushed as when they sell for their client.  Why is this and how is it that real estate agent commissions are so uniform across the country?  This podcast delves into the reasons the residential real estate industry has protected itself from disruption, and hints that those days may be coming to an end.  More...

NRE Forum Podcast #21: Home For-Sale-By-Fee Agent Sells For More, in Less Time, at Lower Cost

Over the last ten years or so, information about homes available for sale has become ubiquitous.  With this has evolved the increasing presence of For-Sale-By-Fee agents, who de-bundle the services a real estate agent offers, and offers to sell your home for a flat fee which is significantly lower than the commissioned agent's cost.  When comparing the performance of these For-Sale-By-Fee agents with that of the commissioned agent, Prof. Arjen, using over 400,000 transactions, uncovers some unexpected results.    More...

NRE Forum Podcast #20:  Contact High - When Marijuana Store Open, Home Prices Rise

In a study that examines the impact on home prices of recreational marijuana stores, Professor Jim Conklin looked at over 100 locations in the Denver market.  What was discovered will likely surprise you, but what exactly is the cause remains yet to be fathomed... what do you think?  More...

NRE Forum Podcast #19: The Stanford Study - Using an Agent Reduces Sale Price

Real estate agents take note… the public is aware.  The famous Stanford housing study found that using a real estate agent reduced the asking price, significantly reduced home sales price, and led to a faster transaction.  The issue uncovered is known as the Principal-Agent problem, where the incentives for the homeowner and the real estate agent are not matched. Agents must adjust their practices, not only to stay relevant, but also to find ways to adapt to changing times  More...

NRE Forum Podcast #18: Real Estate Value Investing - Better Returns than  Investing in Quality

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 consider further..  More...

NRE Forum Podcast #17: The Hotel STR Report... You've Read the Report, Now Hear the Podcast!

Amanda Hite, President and CEO of STR and one of the most influential leaders in real estate today explains how the hotel industry is at an all time high, and growing faster than ever, and tells us that historically for hotels, each downturn has been worse than the last…  More...

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NRE Forum Podcast #16: Latest RE Cycle Report - Hotels Strong; Apartments Oversupplied; Industrial the Best Property Type To Be In!

In the latest Cycle Monitor Report (aggregated Costar data) looking at the top MSAs in the country, Prof. Glenn Mueller summarizes exactly where the five major real estate food groups are in their respective cycles (office, industrial, retail, hospitality, apartments).  Hotels are enjoying one of their strongest seasons in decades; but apartments are overbuilt nationwide and likely in early stages of a correction.  More...

NRE Forum Podcast #15: Appraisals Contribute to Bubbles and Exacerbate Downturns?

We all know what appraisals are and that they are primarily a tool used by banks once a buyer goes into escrow on a property.  But did you know that there is evidence to show that, at least in part, appraisals can contribute to house price bubbles and exacerbate downturns?  Prior to the recent 'great recession' a preponderance of appraisals came in above contract pricing.  This helped the market to climb faster, perhaps, than it might otherwise have done.  In May 2009, a set of guidelines took effect known as the HVCC - the Home Valuation Code of Conduct - that sought to ensure arm's length relationship between lenders and appraisers.  Dr. Leonard Nakamura, Vice President and Economist at the Federal Reserve Bank share his perspective on this important component of real estate market dynamics.  More...

NRE Forum Podcast #14: Agent Conflict of Interest - Not Worth Extra Time to Maximize Price

We tend to think of the relationship between time on market and price primarily in the context of setting the asking price – if we set it too high, it’s going to take longer to sell, or maybe not sell at all, OR if we set that price too low and a buyer pops up immediately maybe we set the price too low.  There is a built in conflict that while it may be in the Seller’s best interest to wait longer for a higher price, brokers prefer to sell quickly because the increase in commission that they get just isn’t worth the wait…  More...  

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NRE Forum Podcast #13: Don't Be Rushed Into Selling Your Home Quickly - You Could Be Leaving Money on the Table

The relationship between list price, how it is set, and how that relates to the amount of time a home remains on the market before selling has not been empirically studied – until now.  Darryl Hayunga, Professor at the University of Georgia, explains that the best strategy is to set list price 3-4% above market price.  And he notes that Agents are motivated to set sale price lower because the extra commission isn’t worth the wait…  More...

NRE Forum Podcast #12: Housing Stock Woefully Undersupplied, Affordability Diminishing

Sales volumes of single family owner occupied homes is diminishing historically despite increase in housing stock as millennials take longer to buy and seniors stay longer in their homes.  House prices, tax regimes, and demographics all feed into these trends.  Real estate agents are finding it harder to generate listings and sales with lower volumes and especially because there are so many more real estate agents in the market all vying for their share of a market that has not grown, in transactional volume, for over 20 years.  More...

NRE Forum Podcast #11: The Good the Bad, and the Totally Unpredictable of the Housing Market

It is the best of times and the worst of times for predicting where the housing industry nationwide may be headed.  Based on his extensive analysis of data aggregated from the California Association of Realtors internal data, Moody’s Analytics, Fannie Mae, Freddie Mac, the FDIC, and many, Jordan Levine, Economist, walks us through an intensive overview of the current state of the housing market.  More...

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NRE Forum Podcast #10: Real Estate Cycle Monitor Report, Q4 2016

"This is the first time in a very, very long time, and only the fifth time in history, that we have had a completely coordinated business friendly government where all three branches of our government are interested and focused on the same thing which is business growth."  This can only be good for real estate. More...

NRE Forum Podcast #9: Are You Getting a Fair Return When Historic Preservation Prevents You From Building?

In 1978 the Supreme Court decided against Penn Central and decided that the 'common good' would prevail over making anything more than a 'fair return' on real estate.  Professor Michael Tomlan, Cornell, explains the background to this case, and how it has become staple fare at a planning commission hearing near you.  More...

NRE Forum Podcast #8: Deloitte's 2017 CRE Forecast with Vice Chairman Bob O'Brien

For a vivid description of the exciting developments that will change the way you consider real estate investment opportunities going forward, listen to Deloitte's Vice Chairman Bob O'Brien share insights gleaned from his company's 250,000 employees, and millions of clients.  More...

NRE Forum Podcast #7: Impact of Immigration Reform on Real Estate

The America first doctrine has at its core our relations with the international community. The key policy issues that drive this doctrine include immigration, foreign policy, and international trade, and there are five key areas where their impact may be felt in real estate. One, new development projects, two, the office sector, three, multi-family, four, retail, and five, manufacturing.  More…

NRE Forum Podcast #6: Uncertain Healthcare Policy Destabilizing for Real Estate.

Which is the anomaly:  The Affordable Care Act, or is the current plan being debated in Washington the anomaly?  Opportunities may arise depending on which side of this debate you are situated.  More...

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NRE Forum Podcast #5: School Quality and the Price of Housing

Now is the time of the year when those among us with children start wondering where they are going to be enrolling those children in school next year. As a consequence the residential property market starts to heat up as people buy homes in school districts that they consider desirable. But how much does school quality, itself, drive the price of housing?  More...

NRE Forum #4: Are you buying into a bubble?

Wondering if you are buying a home at inflated pricing due to a bubble forming? Consider the motivation of last years’ buyers to assess this possibility, and keep an eye on sales volumes – if they suddenly tail off, prices may be about to fall.  More...

NRE Forum Podcast #3: Rent Control is Bad for Homeowners Too

Rent control might actually be bringing down the value of your home even if you are a homeowner and not renting out your property.  In a study that examined the effects of de-controlling rents in Cambridge, Massachusetts,  researchers discovered that even homes never subject to rent control experienced significant price increases when rent control was abolished.

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