Sweat the Details by Nest Realty

We discussed the settlements 30ish days in, some of the struggles as we all adapt, how Nest has acted moving forward, the value of experience and practice, single agent dual agency, and staying true to our strengths, client and Realtor relationships, and the perspective of "better" or "worse" as decouple commissions are the new reality.

This week, we were joined by Jonathan Miller, President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm based in NYC. We covered a lot of ground - transparency in light of the NAR settlement, how long it might take to find the needed market equilibrium, the magic interest rate number that will open up the market and the offset effect cash buyers, the coming homeowners insurance market crisis, unemployment, and the lack of a "national" market.

Hey Everybody - we are taking a short break this week and next. We are planning on what the second half of the year looks like for Nest Realty and Sweat The Details. We'll see you all very soon!

This week, Jim and Keith talk about where they seek and find inspiration for knowledge and creativity when advising clients and agents, and for writing and learning.

We welcomed Danushka Nanayakkara, an economist with the National Association of Homebuilders.We talked about home sales, builder confidence, what builders pay in interest when they are building, acquisition & development, building for rent, square footage of new homes, what homebuyers want, the mortgage rate lock-in effect, population and immigration.--

We talked about several topics this week, from experiences and admiration of Jason Fried of 37 Signals and Brian Chesky of AirBnB (recent podcast with him on Adam Grant's show), the value of great representation in the face of AI, print collateral's true value, and what some of the coming changes may mean to consumers and agents.

Hey everyone - we had an issue when we published this episode. We have reloaded it with fixed audio at the end. Thanks and enjoy the listen!

We hope you enjoy the conversation we had with Brian Boero from 1000 Watt. We touch on the proposed settlement, humanity, showing value, and the tremendous opportunities as we enter this new real estate era.1000watt.net

Hey everyone. this is Jim Duncan with sweat the details by nest realty. This week, we were joined by a longtime friend, Greg Fischer of West + Main homes, based in Colorado and Oregon. Greg was one of our earliest guests - all the way back in December 2019. Greg is always a great conversation, and Jonathan, Keith and I are thankful for Greg joining us again. Make sure to stick around for Greg's detail that he sweats — it's a great and meaningful one for real estate industry.

Hey everyone. this is Jim Duncan with sweat the details by nest realty. We talked with Lance Lambert from ResiClub. We've read Lance's stuff for years, and were excited to talk to him about ResiClub. A quick skim of the ResiClub page right now is a great snapshot of what ResiClub ResiClub - Zillow's home price forecast, commute time and pre-pandemic levels, home price changes across this US in 6 interactive maps -- every story is a good one.Noted stories:Switching CostsSmaller new construction homes?Chart showing home price changes in 6 interactive charts

This week, Jonathan, Keith and Jim discuss the real estate ad dollars being spent at the Super Bowl. Jonathan recaps his trip in Inman. New search engines for home buying are competing for market share in the real estate industry. However, the tech needs to innovate to improve the benefits of users and increase use from agents.

This week on Sweat the Details, Jim was joined by Greg Slater of Nest Realty and Russ Edwards, President of Tiger Solar, and we talked about residential solar, what's on the horizon for solar, some questions and misconceptions consumers and agents may have about solar, and how a fuel company came to invest in a renewable energy company

We started Nest with core principles that hold true today. Jonathan, Keith and I talked about how great it is we all are to be back together in Nest's new office building in Charlottesville, and we discussed the merits, and challenges of single agent dual agency, how the lawsuits have changed agency - buyer and seller - in 2024, what might happen if dual agency went away at the national level, some foundational Nest history, and history of real estate agency. - Back to the office, and how we are better for it.- Buyer brokerage conversations; how 2024 has changed things- Debating single agent dual agency, and the history of agency- Virginia's dual agency disclosure and the list of things the client is acknowledging- As of April 2023, 8 states outlawed single agent dual agency.

Jonathan, Keith and I briefly reviewed 2023 and looked to 2024, which is going to be a time of change for consumers, agents, brokers, and the industry as a whole. Thank you to everyone for listening, emailing, and sharing our conversations. Here's to 2024.Will we have a “normal” spring market in 2024?A few thoughts about the agent populationBuyer representation, buyer presentations, and buyers seeking definition of valueSingle agent dual agency in 2024?The market is not *changing*. The market has *changed.*2024 is going to be a year of remarkable and evolutionary opportunity - we're excited.A note of thanks to our sound engineer, David Stipe, and Little Rhodie Productions. You've made us sound good. Thank you.

We were zooming from Nest's new office space this week! Human relationships matter. Jessica Swesey, the Chief Copywriter & Strategist with 1000 Watt joined us, and we talked about marketing, humanity, AI, and authenticity.Getting everyone in the organization on the same pageChoosing marketing mediums; everywhere and everything may be too muchThe value of conveying candor and authenticity with one's messaging and understanding the difference between perception and realityJessica's fantastic post, TikTok—please stop1000 Watt's 2008 video I am not a lead that still resonates today — and SNL's Zillow sketchAI vs reality - humans are becoming more adept at determining what is real and what is notHumanity and vulnerabilityNothing is easy; what good professionals do is make the real estate journey better.Find Jessica and 1000 Watt:Jessica on Threads and LinkedIn1000 Watt on LinkedIn and their homepage

The guys are off this week and we are revisiting a fun episode from 2021 with the Savanah Banana's.

Hey everybody This week on Nest Realty's Sweat the Details, we were joined by Dean Cottrill — cah-Trill - he is an executive vice president of T3 Sixty, a California-based management consultancy in the residential real estate brokerage industry. We talked commonalities of successful brokerages, what to look for in real estate brokerage leaders, technology's evolution and impact on the belly to belly nature of real estate, and what detail brokers should be sweating as we enter a brave new world of real estate.Find Dean Cotrill:Executive Vice President — T3 SixtyWebsite: www.t360.comLinkedIn: https://www.linkedin.com/in/dean-cottrill-2590a5a/Facebook: https://www.facebook.com/dean.cottrill.3

One of our favorite guests joined us -- This week, Mike Simonsen from Altos Research/Housing Wire joined Jonathan, Keith, and Jim. We talked about markets that are the leading edges for the US housing market, inventory shifts, what data points Realtors and consumers should be focusing on, where in the US might be more poised for growth and balance, pricing, real estate values, and a whole lot more.Where you can find Mike Simonsen:Altos ResearchTwitterYouTubeHousing Wire

This week on Sweat the Details, Jim, Jonathan, and Keith talk about rate locks and predictions, buyer fear mitigation, transferable mortgages, leveraging equity, borrowers' flexibility, listing agents' marketing responsibilities and quite a bit more.Thank you for listening, and please rate and review us!

Buyers are moving further than they were pre-covidAffordably housing resources ad HUD.govAffecting buyers: childcare, eldercare, student loansCash offers are move common nowRepurposing buildings to housing - “It's about 15% to 25% cheaper and brings repurposed properties on-line faster than new construction.”

This week we were joined by Cynthia Adams of Pearl Certification; we talked about the Inflation Reduction Act, high performing homes (what they are, and why people want and enjoy them), how homeowners can plan to take advantage of the IRA.Inflation Reduction Act 101: What's in it and how does it affect me?DOE Releases New Rebate Guidance for the Inflation Reduction ActHome energy rebates and the IRAInflation Reduction Act of 2022 - What it Means for YouFrequently asked questions about energy efficient home improvements and residential clean energy property credits

A near-end of summer recap with Jonathan, Keith, and Jim, a look ahead to 2024 for consumers and agents, and discussion about marketing and brand expectations set by brokers around the country.

Mortgage rates are up a bit in the past few weeks, inventory in Charlottesville is near the lowest it has ever been, where is inventory going to come from? What happens if and when interest rates go back down? Will the market go back to a frenzy? In the meantime, how can agents adapt to this new and slower market? Keith references our recent Sweat the Details with lender Matt Hodges

This week, Bram Gallagher from AirDNA joined us on Sweat the Details. Topics were wide:AirDNA is the leading provider of data and analytics for the $140 billion dollar short-term rental industry.There are about 80.5 million owner occupied housing units in the United States; there are about 1.5 million short term rentals, per AirDNA.We talked about whether there is an AirBnBust, the impact of short term rentals on the residential real estate market, short term rental policies, and the short and long term outlook for short term rentals

What excites you about technology right now?Our first Nest video, and how we use technologyWhat makes a tool the “right” tool, and will agents use it?What tools help our clients?Great design builds trustSome early thoughts on Artificial Intelligence in real estateCoded Bias on NetflixAI & the value of human credibility

Where are mortgage apps?10 year treasury and 30 year mortgageAre more people looking at ARMs?A holistic approach to advising buyers in this marketHow has the conversation with buyers changed?When should buyers start the conversation with the lender?30 year fixed rate mortgages (Planet Money)PMILoan level pricingWhat innovations are on the horizon for the lending industry?AlgorithmsCommon liabilities with buyers - child care and student loansLocation efficient mortgages and total cost of ownershipGas price math, or the cost of transportation and homeownershipWhat detail does Matt sweat?

Real estate and property taxes – they go together hand-in-hand.This week we spoke with Sally Hudson, Virginia Delegate, and UVA professor about how a land value tax might change how we tax properties, and how that would affect urban design, parking, affordable housing – basically everything in real estate.

New cars, once part of the American Dream, now out of reach for manyScarcity = Luxury?On shoesBlundstonesWhat % of real estate - and all - markets are luxury?Housing availabilityMortage Rate Lock-inHaving kids and demographics30% of people don't have mortgages1/3 of new inventory is new construction - historical average is closer to10%Scarcity of the right kind of house that buyers need - referencing sandwich generation.Homebuilder sentiment indexGreat (builder) profits amid lousy salesLumber prices - from a high of $1,500 to current ~$520Scarcity created in new construction marketsApartment glut - here or coming?Remodeling opportunity will abound as the market shiftsDoes the speed and ease of communication drive the frenzy and the markets?Please subscribe to Nest Realty's Sweat the Details wherever you listen to podcasts, and please rate us and share the podcast if you like it!

Elephant and the blind miceDivided housing marketAlgorithmically noting whether a house has been smoke in or lived in by catsAVMs and their algorithmsZestimates, assessments and Zillow's accuracy Zillow becoming more right.Unique snowflowersJonathan tracked the effect of professional photos on a ZestimateChatGPT hiring humansTake professional photos earlyValue of local knowledge about housing stock and inventoryQuestions/comments? Please email Jim@NestRealty.com

Episode 62: The Perfect Inventory Storm- What if real estate is “sold out”?- Why do we not have enough homes on the market?- Charlottesville local builder contraction- Buyers' and agents' frustrations in this market- An amazing note card from Nest's marketing department- How's the market?- Emotions and winning an offer.- “Finding the next” is limiting inventory- Life, birth, divorce, job - why do people move?- Affordability, home prices, new construction- Shrinking inventory and availability of land- Climate change- Life decisions and real estate- The market is what it is.- Nike's inventory, adidas inventory; how will builder inventory respond?- Generational Shifts

Everyone made mistakes over the last three years and we were no different. One of those mistakes was letting this podcast fall aside. So, we're back!

Show Notes- Mapping segregation - DC- Mapping prejudice - Minneapolis - Mapping inequality - University of Richmond- Jefferson school of African American history- Mapping Charlottesville- Charlottesville never got a redline map?- What were redline maps?- Clip to the Amazon show- 1948 supreme court decision- Zoning and 1968 Fair Housing Act- Infrastructure, tree canopy - Barbara Brown Wilson & the Equity Center- Our podcast with Barbara Brown Wilson, Episode 49: Urban Design, Climate Change, Equity and ResilienceCrowdsourcing Mapping Charlottesville- At least 500 have logged a single deed- > 250 people have logged multiple deeds- HB 788- Restrictive covenants; certificate of release of certain prohibited covenants. Prohibits a deed containing a restrictive covenant from being recorded on or after July 1, 2020, and provides the form for a Certificate of Release of Certain Prohibited Covenants to be recorded to remove any such restrictive covenant.- Link to Richmond Sunlight- The Color of Law- A relevant Twitter thread about Race and Land Use

Chris Henry is Co-Founder and President of Stony Point Development Group, an award-winning real estate development company driven by creating great places and enhancing lives through the built environment. Stony Point Development Group has executed over $250MM of ground-up development and acquisition of urban mixed-use projects in Virginia, North Carolina and Massachusetts. Chris is active civically in Charlottesville, VA as a member of the Strategic Housing Partnership and the inaugural class of Monticello Young Advisors. Chris was awarded the Christopher Lee Small Businessperson of the Year award by the Charlottesville Chamber of Commerce in 2019. He lives in downtown Charlottesville with his wife, two young children and two labradoodles.Show Notes:Dairy Central in Charlottesville Stony Point Development GroupHow place can impact and enhance livesRiverside VillageULI and urban planningTransit and pedestrian oriented developmentChampion Ice House - Craig Hartman & Hunter Smith in Gordonsville, Virginia.Imagination processCovid’s accelerating change of retailCommunity building and local businessesCenter of Promise at 10th & Page

Niki Simon and Michael Coleman, Nest HQ’s Air Traffic Controller and Marketing and Development Manager, joined Jim and Keith this week. We love talking to Nesters, and Michael and Niki were no exception. Hear how they came to Nest, and how they help build and foster the Nest culture, and how they make Nesters better at what they do.Show Notes:- How our marketing department has grown and evolved- Having one person, one point of contact for agents is invaluable- Growing marketing from Charlottesville to all Nest offices- Consistency of onboarding - Learning Nest’s marketing tools- Nest’s Agent Advisory Committee- How they make Nest agents better at what we do

Olivia Mariani joined Jim and Keith this week to discuss Curbio, a pre-sale renovation company, how they have shifted and adapted due to the pandemic, and how what they offer can benefit buyers, sellers, and Realtors.- One of the shifts Curbio has made is: They are the finance mechanism, and they are turnkey- Solution for Realtors and Sellers- How fast can Curbio turn around a project? Within 3 days- Curbio + their app reduces turn time by 60%- Average turnaround time is 4-8 weeks for basic, and 8-12 weeks for a larger project- How have they grown?- How have agents and brokerages adopted Curbio’s offering?- Some of Curbio’s case studies. The one she referenced that yielded $182K profit to the seller- Farming older neighborhoods?- Future of their business - rebranding, Realtors cannibalizing the business- Curbio for buyers

The Nest Realty crew of Jonathan, Keith and Jim talk about proptech in the 2020s. - Last week’s podcast with Mike Simonsen- CoStar - new offer to buy CoreLogic- Zillow buys ShowingTime- Rob Hahn’s thoughts on Zillow + ShowingTime- Zillow’s Flex agent program- Lone Wolf also on an acquisition spree- Book: The Innovator’s Dilemma- Ford Motor Company and Big Data

Mike Simonsen, with Altos Research, joined us for the second time and we discussed the housing crisis, state of the market, interest rates, data points that may signal the market cooldown, and we even touched on housing policy that may address our crisis. There was one number that shocked us; hope you enjoy the show.Show notes- Will the market cool?- What’s the state of our housing crisis?- Rising interest rates will be the driving force in a potential cooldown- Will rents drop?- Altos’ research channel with weekly market updates- Altos on Calculated Risk

Jonathan and Keith were joined by Jesse Cole, the founder of Fans First Entertainment and owner of the Savannah Bananas, a Coastal Plain League baseball team in Savannah, Georgia. Cole and his teams have welcomed more than a million fans to their ballparks. Jesse has been featured on MSNBC and is a keynote speaker all over the country, promoting the mantra “If it’s normal, do the exact opposite.”Show notes:Who is their competition? Other baseball teams? Netflix? Amazon?What are liquid expectations?Why we have to always be improvingGame changer was recognizing the difference between marketing and attentionEliminating frictionBooks cited:Creativity, IncFind Your Yellow TuxDisney’s Land

- Recapping the Nest Summit- Jesse Cole with the Savannah Bananas- Savannah Bananas-NAR’s Chief Economist, Dr. Yun, joined us- His presentation is here - New construction material increases and supply chain challenges- Existing and new construction home sales up- NAR’s annual homebuyer profile- Prospect of fewer repeat home sales, and ramifications- Looking outside traditional box for marketing and experiential inspiration, and the Savannah Bananas’ ownership of the fan experience- “It doesn’t matter how many customers you have, it’s the matter of fans,” and for Nest, it’s the number of happy clients- Value of building connections and community- And momentum- Look forward to 2021, some new Nest programs and locations- Big shout out to our amazing Marketing Department!

Jonathan, Keith and Jim recapped some of their favorite episodes from 2020. We had a lot of great shows this year, and we’re grateful for your listening, and for our guests for sharing their time, insight, and knowledge. One more show to go this year, and it’s on to 2021!Episode 36 - Exciting Innovations, Cooperation, Evolutions through a Pandemic with Vanessa BergmarkEpisode 39 - Silver Linings from Pandemics with Economist Issi RomemEpisode 44 - Subtraction - Offering More by Limiting your Offering with Joel Burslem

We're taking a break this week. We hope you do too. It has been an interesting 2020, and we have two more episodes this year. One is going to be Jonathan, Keith and I talking about what Nest accomplished this year and what we're planning to do in 2021. The other will be highlights from a few of our favorite podcasts in 2020. If you have a particular favorite, we would love to hear from you at sweatthedetails@nestrealty.com. We hope you have a great week and stay healthy and safe.

Debbie Lariviere - Partner and Head Coach at Middleton Elite Coaching and Nest Realty Broker/Realtor- Who are you? - What’s your “how I got to real estate coaching” story?- When should an agent or broker choose coach?- Leverage points and metrics- What percentage of your business is agent? Broker?- How do you evaluate your clients?- What does success look like? How do you help your clients define success?

Skylar Olsen, Principal Economist at Climate Check, joined us this week. We talked about how the Climate Check service, how they are seeking make this data accessible to all consumers and real estate professionals, and how climate change will affect buyers’ choices about where they live, and how we are going to have to make our homes and areas resilient to the changes brought by massive changes in our climate.- What is Climate Check?- What are the data sources?- FEMA is looking at now; they are looking at now + future- Evaluating risk factors- Storm risk; extreme weather risks increasing- Western PA has high risk for extreme storms- Washington County, PA- Flood risk of 87; what does that mean?- Residential vs commercial risk awareness- What’s more impactful for people making decisions, flood or fire?- How to make the property more resilient

Barbara Brown Wilson is an associate professor of urban and environmental planning at the UVa School of Architecture, and a co-founder and faculty director at the UVa Democracy Initiative Center for the Redress of Inequity through Community-Engaged Scholarship (aka The Equity Center). Her research and teaching focus on the history, theory, ethics, and practice of planning for climate justice, and on the role of urban social movements in the built world. Dr. Wilson writes for both academic and mainstream audiences, and is the author of Resilience for All: Striving for Equity through Community-Driven Design (Island Press: 2018), and co-author of Questioning Architectural Judgement: The Problem of Codes in the United States (Routledge: 2013). Her research is often change-oriented, meaning she collaborates with community partners to identify opportunities to move our communities, and the field of urban planning, toward social and environmental justice.Show Notes- Shift to be aware of whole system of design of cities, to include our environment- Cradle to Cradle - Bill McDonough- Waste can equal food and closed systems- Climate change and planning- Shoes made out of water bottles- Climate change and equity and urban planning- Zip codes’ effects on equity. More- Looking for solutions upstream- Resilience- Ecological resilience- Engineering resilience- Inclusivity resilience- New York Times mass migration- Processing trauma with respect to climate change- Bayou by You in Biloxi- Friendship Court- More about Friendship Court- Countering urban renewal- Center for Non Profit Excellence

Home design and DIY blogger Cassie Bustamante sits down with the Nest crew of Keith Davis, Jim Duncan and storyteller and content manager Jasmine Bible to talk about the value of wellness in your home, connecting with buyers and visualization.Designer: Cassie Bustamante -- Blogger, Instagram TrendsetterLocation: Greensboro, NCInstagram: https://www.instagram.com/cassie_bustamante/Website: https://www.cassiebustamante.com/- Value of wellness in your home and its effect on you- Repurposing furniture, Facebook marketplace- Check allergies and smells when buying items second hand- Tips for Realtors when advising clients- Paint!- Tips for sellers to connect with buyers- Buyers spend time visualizing themselves in houses, often through books- Are blogs coming back?- Evolution of her blog.- Cassie’s Pinterest- What does she sweat every day?

Keith Davis and Jim Duncan are joined again by Rob Hahn. If you're a regular listener, a couple of weeks ago you heard an episode where Rob and Jim spent time talking about issues surrounding fair housing. Now they’re looking at zoning, school districts and growth.- Nice White Parents- Zoning and school districts- Buyers will negotiate with respect to school district.- Mapping Charlottesville; “maps inequities in Charlottesville from past to present,” in deeds and covenants- Impact of technology on school districts; could COVID & tech be the push that erases school districts?- Private pods- Single-family zoning and accessory dwelling units n Minneapolis- Getting rid of anti-growth zoning. NIMBY and YIMBY- Affordable housing proffers, and Habitat in a Charlottesville neighborhood- Virginia Bill : Virginia Fair Housing Law; unlawful discriminatory housing practices, sources of funds.- Should RPAC advocate for growth policies?- Lenders and rentals and zoning- Rob Hahn’s podcast with Greg Robertson, Industry Relations

Jonathan, Keith and Jim get together for their monthly podcast to catch up and talk about Interest rates, inventory, supply and demand. The value of transferable mortgages? COVID’s acceleration of change.- Earnnest; the new way to send earnest money deposits, and the value of making a first impression.- The future of college towns from New York to Ann Arbor to Lexington.- Motels’ resurgence. Jonathan’s recommendation for the Lonestar Court.- AirBnB’s return- Quick reflection on nearly 50 episodes of Sweat the Details.

This week on Sweat the Details, Keith and Jim were joined by Nest’s Story Teller, Content Manager and Editor in Chief of the Nest Magazine, Jasmine Bible, and Natalie Papier, a Professional Interior Designer, who recently moved from Chicago to Charlotte, and is an Instagram Trendsetter. Find Natalie on Instagram and her website.We talked about interior design in the time of COVID, where her passion for design began, her move from Chicago to Charlotte, her path to opening her own design firm.

Joel Burslem of 1000watt talks with Nest's Jim Duncan and Keith Davis about technology, the value of editing and subtraction.Who should be providing technology solutions for agents? The agents? Brokers? MLS? Third parties?- Subscribe to 1000 Watt’s outstanding newsletter- Just One Thing by Jessica Swesey- What can you remove/subtract/remove from your current tech?- Adding value to the organization with tech; using technology appropriately- What is the end goal of how you use technology, to the consumer, and to the agent?- The turf wars of yesteryear are not valuable battles; focus on what’s next- Who leads in electronic signature implementation?- Does the brand matter more or less when everyone has the same tech?- Hammers and postcards; how you use the tool matters.- The value of words

This week, Rob Hahn, the notorious ROB, one of the most well-known and smartest thinkers in the real estate space, joined us to talk about race, zoning, the Newsday article from November 2019, Realtors policing themselves, the Color of Law, the importance of words and vocabulary in real estate, and RPAC, the Realtor Code of Ethics, and the conversations we need to have.This is Part One, and we will be following up with Part Two in a couple weeks. We hope you enjoy this discussion, and how it fits in with the ongoing conversations we are having.Short show notes this time; look for the accompanying blog post on Nestrealty.com for all the links we discussed.- Newsday - Long Island Divided- What Rob wrote about it in 2019, and June 2020 followup- Bill would let state revoke brokers’ licences for discrimination- Nest's podcast about zoning and racist covenants- Trump's video about blockbusting- Racist language