Podcast appearances and mentions of Rich Barton

Rich Barton is the co-founder and co-executive chairman of Zillow, a company transforming how people buy, sell, rent, and finance homes. Before Zillow, Rich founded Expedia within Microsoft in 1994 and successfully spun the company off as a public company in 1999. He served as president, CEO, and board director of Expedia and later co-founded and served as non-executive chairman of Glassdoor.Sponsors:Ramp easy-to-use corporate cards, bill payments, accounting, and more: https://ramp.com/tim (Get $250 when you join Ramp)Cresset prestigious family office for CEOs, founders, and entrepreneurs: https://cressetcapital.com/tim (book a call today)Shopify global commerce platform, providing tools to start, grow, market, and manage a retail business: https://shopify.com/tim (one-dollar-per-month trial period)*For show notes and past guests on The Tim Ferriss Show, please visit tim.blog/podcast.For deals from sponsors of The Tim Ferriss Show, please visit tim.blog/podcast-sponsorsSign up for Tim's email newsletter (5-Bullet Friday) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Discover Tim's books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissYouTube: youtube.com/timferrissFacebook: facebook.com/timferriss LinkedIn: linkedin.com/in/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, Margaret Atwood, Mark Zuckerberg, Peter Thiel, Dr. Gabor Maté, Anne Lamott, Sarah Silverman, Dr. Andrew Huberman, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Zillow Group named a new CEO, longtime company executive Jeremy Wacksman, announcing that co-founder and two-time CEO Rich Barton will be shifting to the new role of co-executive chair of the real estate media and technology company, joining co-founder Lloyd Frink in the role. Barton and Wacksman join GeekWire co-founders John Cook and Todd Bishop to talk about the transition on this special episode.See omnystudio.com/listener for privacy information.

3 authors, 3 leaders, 1 awesome book. Meet Rich Barton, Carol Dozibrin, and Mike Ellson--all Certified Master Athletic Administrators and co-authors of Leadership with Legacy--a collaborative project filled with stories, lessons, and experiences written by Rich, Carol, and Mike as well as with contributions from coaches and athletic directors from around the country. Rich is the Assistant Director of the NIAAA, National Interscholastic Athletic Administrators Association. Carol and Mike are the Executive Directors of the State Athletic Directors Associations for New Hampshire and Tennessee, respectively. I look forward to hosting them on the podcast on Tuesday, June 24th, 2024, at 8 pm EST. Join us LIVE on the #ELB podcast on all socials. You can purchase their book here: https://bit.ly/LeadershipwLegacy This podcast is sponsored by IXL Personalized Learning. IXL is used by more than 1 million teachers each day. It is also the most widely used online learning and teaching platform for K-12. Learn more here: ixl.com/elb

Market Proof Marketing · Ep 308: The Lag EffectIn this episode, Kevin Oakley is joined by Andrew Peek and special guest Amanda Martin, an Online Sales Coach here at DYC! Amanda gives some insight into personalization and how far an OSC should go to find an emotional connection for a lead. The team discusses “the lag effect” and the importance of marketers helping their team to understand it and their thoughts on a new Ai rollout of celebrity lookalike chat bots. Story Time (04:29)Amanda quoted Kevin during the Summit “There's never going to be enough emotional drive or urgency if they don't pink something that there's any fear of loss in.” and was inspired by it!Andrew talked with a builder whose content featured the possible objections of their townhomes instead of featuring its positives. Kevin talks about "Lag times"The News (36:15)What are Meta's AI Personas, and how do you chat with them? (https://mashable.com/article/meta-ai-personas-explained)Alexis Rivas on X: BIG news for ADUs today. (https://twitter.com/alexisxrivas/)Google's AI-powered search experience can now generate images, write drafts (https://techcrunch.com/2023/10/12/googles-ai-powered-search-experience-can-now-generate-images-write-drafts)The Q3 2023 Online Sales Benchmarks (https://www.doyouconvert.com/blog/the-q3-2023-online-sales-benchmarks/)Homebuyers Must Earn $115,000 to Afford the Typical U.S. Home. That's About $40,000 More Than the Typical American Household Earns. (https://www.redfin.com/news/homebuyer-income-afford-home-record-high/)Things We Love Things We Hate (01:01:46)Amanda is loving her role of coachingAndrew is loving his task management tool “TikTik.com”Kevin's favorite is the Pro Builder Professional Forty under 40 list! Questions? Comments? Email show@doyouconvert.com or call 404-369-2595 and we'll address them on the next episode. More insights, discussions, and opportunities can be found at Do You Convert All Access or on the Market Proof Marketing Facebook group.Subscribe on iTunesFollow on SpotifyListen On StitcherA weekly new home marketing podcast for home builders and developers. Each week Kevin Oakley, Andrew Peek, Jackie Lipinski, Julie Jarnagin, and other team members from Do You Convert will break down the headlines, share best practices and stories from the front line, and perform a deep dive on a relevant marketing topic. We're here to help you – not to sell you!Transcript:KevinI think it's Kylie Jenner on here.AndrewOkay.KevinAs an option. Let's see.AndrewMaybe a good option Is this Mr. Beast?KevinOkay. Tom Brady.AndrewOkay.KevinI feel like Taylor Swift was supposed to be one of the options.AndrewLet me see.KevinBut there are. There's 15 and total. I think, including Alvin the alien.AndrewI like the alien. Now that I. I'll trust the alien seems trustable.KevinBob. Bob, the robot here kind of gives me vibes of short circuit, Like one of the best movies from the eighties of all time.AndrewDon't you feel bad for that robot? But you develop.KevinJohn. I mean, Johnny five is alive and you can't find him.AndrewI need to revisit this movie. I haven't seen the movie, but it's been years. It's been years, okay?KevinI mean, I would I wouldn't be surprised because you're young and. But.AndrewYoung'un, I'm an I'm in that cut off. Where? Let's see, when, like, animated movies really took off with late nineties and has before them but like Pixar was 99 I think with Toy Story I think that kind of shifts. Like what shows did you grow up as a kid? They went to Blockbuster for and it was an animated, nothing animated, at least for me.AndrewIt it's like, okay, then kid got stuck watching those for like what I playing for the kids now like, oh, I don't know. Like, did they need to watch all the James Bond movies for like the Silhouette music intro? I be like, Oh no. But I was I think we grew up with that. That was that was usual for them.KevinAmanda What was your childhood media content like?AmandaOh gosh, just some of the classics like Tom and Jerry the Road Runner, you know, like, Okay.AndrewYeah, like a weekend.AmandaLike that is classic and stuff like that. I mean, that's like gone way back.AndrewBut The Simpsons, I guess The Simpsons were on there. I mean, I grew up I remember memories of like Seinfeld was on all the time, like all the time. Seinfeld is like Seinfeld. Frasier is like the same order and just knew what it was be on.KevinApparently, there's a new Frasier show.AndrewOh, you can't because there's no family anyway. Oh, man, It's probably not the same.KevinWe should. We should go and start the show.AndrewYou should. Let's do that.KevinWelcome to episode 308. I'm Kevin Oakley. And with me today is Andrew Peek and Amanda martin.AmandaNo, no.KevinAnd Amanda claims she's never been on the podcast before. I don't know how it's possible.AmandaI don't either. But here we are.AndrewI cannot believe that. But Amanda, you would know, like, if we're out here before. So, yeah, that's right. Got to believe.KevinYou. It's your truth. How long have you been on the team now?AmandaOh, man. About four and a half years. Right at it? Yeah. Yes. That's crazy.AndrewI. I don't believe that The.KevinReason that my memory and this might have just been like a teen call that we were on, but I just remember giving you a semi hard time. But it must have just been like sea questions when you first joined anyway. Yeah, sorry. We should. We should have had you on the table. Everyone watch. What do you do here?KevinYeah. TV For those who may not know.AmandaI'm an online field coach with Jen and Jesse and I help you know, everything with online sales, coaching, new offseason and lifting with these and ramping them up for success, helping with onboarding all the good things. I love it. It's so great.KevinHelping out with Online Sales Academy. Oh yeah. Leading sessions at the at the Do you convert online sales and marketing summit doing all the things so that's why I just.AmandaKind of things Love it.KevinWell, now, sorry, Jen, you're just going to have to come on once every quarter or six months because Jesse and Amanda are.AndrewTaking over.KevinTaking this.AndrewBy. I feel like you're like an O.G., because when I started way back in the day with with the convert you were with, I believe, at Royal Oaks Home.AmandaYes. Yes.AndrewWay back in the day, y'all had amazing videos because I feel like the accents and everything are just so, so different. But also, like, you worked amazingly together. Yeah, that's. That's going way back. So, you know, it.AmandaIs way back. And you sort of.AndrewYears.AmandaYou would like, made us for us like late, late at night and they would just magically be ready the next day or.AndrewDefinitely.AmandaKevin America. Okay.AndrewThat was but yeah yeah. Those fun times. So we go way back. This is, this is good.KevinOkay, so, Amanda, story time, no pressure. First story time in four years. Yeah, I'm one of the best on the team. What do you got for us?AmandaWell, I do have a story for you and question for you. Kevin, Did you know that I quoted you in my session at the summit? Oh, no, no.KevinYou didn't go to the cloud, first of all. But only if my my head is not on the image. Like, there's just something.AmandaOkay, Images.KevinJust like, what.AmandaWas it.KevinAbout pancakes or was it actually about someone else's?AmandaI shouldn't have done pancakes. I would have been good. No, no, it wasn't, though. It just really stood out for me. And one of your Pulse episodes. I even read blog about it, so I don't know if you know you're famous. Yeah.KevinThat's a good hint.AmandaYeah, You said, Kevin, that there's never going to be enough emotional drive or urgency. If they don't pick something that there's any fear of loss, then. So that really just inspired me to talk about the like thing. One part about this, though, at the summit, my session was all about the power of personalization and part of it you talked about selecting one and I used your quote and I related that to when I got our second cat there.AmandaAnyway, that was fun. So that was my that was my story I quoted, you know?KevinOkay, now I have questions for you. Yeah.AmandaOkay. So let's here.KevinI think the perception, maybe misconception about online sales is that getting to one doesn't really matter because you're just kind of giving them general information and you want to get them as quickly as possible to the on site team. So talk to me about when when is it necessary to apply personalization. Can you get go too far in that attempt?KevinIs it is it even possible to to go too deep in personalization, do you think so?AmandaI think I think you do have to it. Well, I'm first of all, because, you know, you have to you have to learn enough about them to be able to recommend something for them. So if you don't if you don't take the time to fully qualify them and learn their story, you can't select one. But if you've done your job, then you should be able to select one, right?AmandaSo I think you have to do that.KevinDo you mean I am assuming, but I want to clarify. You're talking about community. You don't necessarily have to get them down to a particular hall. No, but you got to find something to.AmandaTo find something. Yes. Yes. They are emotionally invested in something that's going to be a good fit for them based on what they're looking for. But yeah, community is great. Sometimes you'll get down to a floor plan and if that's, you know, a big must have for them.KevinOr you're on your lot builder and there's nothing else to.AmandaOf course Yeah, yeah, yeah, yeah. You can't you can take it a little bit too far I guess if you, you know, qualify them out of thing if they don't want to get too far. But definitely a good idea to learn their story and select on and to become emotionally invested in it. So yeah. Yeah. I love your.AndrewLast makes sense.KevinThe last qualifying or and I'm just an insanely curious person so.AmandaI love it.KevinWhen you were just talking about that, it made it feel like it's okay for the online sales person to have an opinion on what's best for the customer based on what you learn about them, which I'm maybe if listening is like, Well, duh. But again, I know, I know sales managers and onsite salespeople who are like, Oh, online salesperson is just supposed to absorb and direct the customer on whatever it is they already came in on.KevinAnd I think to me that connects to this is an older number. I don't I actually don't know where we are currently, but I remember doing analysis of Heartland of about one third of the people who came in as a lead for one community ended up becoming an appointment for a different community after verification and personalization was made.AmandaSo of that. Yeah. So the leads, they don't know everything that you have to offer and that's why the OSD is there to really be able to give that easy button. And that's also why it's great to have signage numbers go to that. With me though, like a story, you know, I had someone going out that was driving out path.AmandaThe community they call, they were interested in that, but it completely did not fit what they were looking for at all. And I was able to reroute them to a different community that was a great fit. So, you know, just because they have to show up somewhere that you think they're interested in something doesn't mean that that's the best fit for them.AmandaAnd you're able to provide them with that knowledge because you know all the products, you know. So it's all about uncovering what they're looking for and giving them that easy button and directing them to the right place. So.KevinMM Yeah. The place that people are headed with over the automated systems, we're saying, well if Amanda asks for information about Happy Acres, this is easy. I just load up information about Happy Acres and I send it to her in little bursts over multiple different channels. And and I think that's dangerous because, again, just the reason that someone reaches out is not a clear connection to what it is they ultimately will purchase or even what they're most interested in.KevinYeah. So I think I think that's interesting thought, too, is that at the end of the day, no matter what else is checked off in the CRM, no matter what pages said they came from there. A prospect for a home above and beyond any particular community or floorplan. It's not that it can't inform or shouldn't inform.AmandaMhm.KevinBut you can't just say oh well they asked for Happy Acres, I will schedule you an appointment via text in 30 seconds at Happy Acres because I can, I can make that happen.AmandaYeah. That's exactly right. That's why I exists.AndrewRight. I just, I can't imagine any automated solution I could build like the emotional momentum to then that increases the appointment kept ratio. That increases like it just gets you along the funnel quicker. Like imagine you hear Amanda close your eyes and Amanda's like, you call. It's like, you know, I think that communities like selected, that might be good for you but we have this other one and then you and your great voice, you're talking, talking and you're like, Yeah, yeah, yeah, let's go, let's go.AndrewI want that versus reading something on the screen. And it's a robot and that has no emotional like it doesn't create any emotion within Yeah.KevinI mean any attempt at fake emotion oftentimes comes off worse than no emotion. Honestly.AndrewHappy, awkward, like this. Yeah.KevinYou I don't know what story you would both use as my example. For me, it's typically like Home Depot or Lowe's.AndrewI like Home Depot. Don't like Lowe's.KevinThe same Lowe's I only looking for their they have seem to have a better power tool selection generally than Home Depot does or a larger one. But other than that, I agree with Abraham. Yeah, but you know, when someone offers you assistance, you have kind of this built in thing of I mean, I really do want as is internal talk now.KevinKevin Internal talk, Yeah. I definitely want assistance finding this one size particular special fastener that I need to replace on something in my home. And all I have is the broken one and I have to go line up the right side. And this is obviously a real world example that have a salad go. But someone's like, Hey, can I help you?KevinAnd everything inside of you is like, Yes, I want help, but I really doubt you're going to be able to offer the help that I need or just be an expert that I need versus just taking up my time. Like we've all had those experiences where someone's like, Oh yeah, I'll try to help you, and then they lead you to like the plumbing section.KevinYou're like, No, but like even I know that fasteners are aisle five, so that's where we should go. And so I think there's always this thing that online salespeople and salespeople and even marketers with some of our messaging has to get through is like the relief that you have as a consumer. When you finally talk to an expert, it truly is just the feeling of exhaling.KevinIt's like, Oh, okay, Amanda knows her stuff. And that's what I'm saying. It's this fine line between overconfidence, oversimplification. You want this, therefore you go there as soon as you can become an actual expert and the consumer trust that everything changes, no matter what the emotional state of either party is beforehand. It's like, okay, okay, I could totally be convinced that I don't even need the fastener.KevinI thought I came in with that as a replacement. Maybe there's something better, but that person's first can have to prove to me that they're not just making stuff up.AmandaAnd they also have to understand your story. What you're going to use it for on the right. How can they make that recommendation?KevinYeah.AmandaMm hmm.KevinYeah. So it's this weird. It's the same thing talking about interest rates right now. You know, interest rates at 8%. I don't know if that's I think we've talked about that enough on other places. We're not going to talk about that in this news. But interest rates, mortgage rates going to 8%. There's a whole bunch people saying don't talk about interest rates.KevinIt's not a big deal, just end. And it's kind of like, well, if everyone knows it, I, I don't think you can completely avoid it.AndrewYeah. Yeah. You're crazy not talking about it.AmandaMm hmm.KevinLike not talking about it or having at least some planned responses for the, like, common objection or statement. Because, again, as a consumer, I would feel it's my job to to be a good customer and to protect myself in this engagement, I would have to be like, you know, we're just a little bit concerned with how high interest rates are right now.KevinYeah, if a customer didn't say that, that would be weird, unless they just know they're paying cash. It's the same the same thing as again, you go to a retail store, do you need any help? The default reaction to protect yourself is no, I'm just looking. It's just what our job is as consumers. That's great.AndrewAndrew Yeah, I had one. I think I'm to shift that over to favorite things. I had him because like literally right before we started, I'm like, I just use this in the example of why I like this piece of software, so I'll save it for favorite things as it's more appropriate. Okay. Townhomes. I love townhomes. They're my favorite.KevinThey're that's I don't is that is that true?AndrewThat's not true. That's not true. I'm not true at all. Because I think that's like my first if I had to be like, what did I first learn coming to to do? I see. And like, I was like, Kevin, why are townhomes always like the issue? Like it was almost like a bat in my head. Like, all right, about this is about a townhome for something struggling and like 2017, 2018 it was townhomes, but two weeks ago, two weeks to three weeks ago, I had to call the builder and is about a townhome product and I was looking through their photos.AndrewIt's a coming soon. The price is really nice. You're like, really that price like, but it's a little farther out. So there's all these challenges with it. And at the end of the call it really didn't go the direction I thought it would, but we really uncover that a lot of their content highlighted the objectives as and they like made the objectives valid against townhomes.AndrewLike unintentional.KevinYou mean objective objections? Objectives.AndrewOkay, This my back. The objections? Yeah. The objections were they were like featuring the objections. Like what do you hate about townhomes? They didn't because their photography is so standardized that the way they photograph townhomes is the way they photographed single family homes. There is no intentionality as far as like, okay, cool, this is a I only how the product here, maybe it's 25 feet wide.AndrewMaybe. I mean, our home is sprint. It's 30 feet. We're on a foot, 40 foot lot. So we're at a 30 foot home.KevinIt's pretty decent for them.AndrewSo it's 20, 25, eight. But all the photography, the angles were not featuring like depth. And so in town, home is more like, what do you hate about it? Or why would you not choose this townhome? They're small and cramped. Okay, so the photography should feature mostly images that feature like the length of the home, right? That's going to be it.KevinYou don't have to document the entire crime scene.AndrewCorrect. Like, let's make sure it is showing like it feels big and spacious. What he also not like phantom asylum's privacy. These include a fence in the backyard that are like it cuts off the backyard where I think it's like a 12 foot fence. You could barely see it. And the photos, as far as like separating you, your back patio from the neighbors, you could barely see it.AndrewSo I'm like, hey, if they feature at every it's like they only needed these big shots of the whole building. This I think there were six units per person, per little per building. And so I saw all six. So like me and Alex, really small, it didn't focus in on like, hey, here's like the living area of your outdoor living area and it says example after example after example, in the order of the images, I'm like, if you showed number three versus number one, you might be able to hook them and create like we talked about with Amanda, like enough emotional excitement, like, oh, you know, that actually does look more spacious.AndrewAnd I'd expect and then you tie in to the fact that like more for all rural area where this townhome project is being built, I think there's as you go farther away from like downtown, there's an expectation of land and space. So a townhome close to downtown to like that's perfect for me. You put that 25 miles outside a city center.AndrewPeople were like, I could get a double wide on 45 acres for 250. Okay, And you're trying to give me 3000 square feet of yard space if that even. Yeah. And why would I do that? Like so your everything they did was the opposite content wise and like, Oh that's really interesting. I've never looked at photos of townhomes.KevinSo instead of I guess I want to clarify that like his clarify and what instead of instead of knowing that those are the objections, is your point and then creating content that speaks to them as No, that's not really a valid objection. You just have a misperception about townhomes are are different. You're saying all of the content just affirmed the likely objections?KevinYes, It didn't because didn't always talk about Smucker's is one of my favorite Smucker's. But the name like Smucker's, it has to be good. It's they know the objection would have been when that first became a brand. This is a weird sounding company. It sounds like just smacking saying I mean, it's just bizarre.AndrewIt is.KevinSo there's there's definitely a technique or approach of saying, I know what the objection is going to be. I'm going to hit it head on with answers or solutions or or different viewpoints. You're just saying that was the big miss.AndrewIs big mistake. Yet it made it made you go like, well, this is why I don't like townhomes. It's what I gathered from it. And it's like this builder. They're very process driven. Everything standardize. You've got to recognize their photos with even at least I can without their name on it. So but they're all great. Like they're they're doing an amazing job.AndrewBut the townhomes are photographed the same way as a single families. The buildings are the same way. And I think that's like the not the issue, but it's like, oh, they could probably like I'm like in one here. There's it's a three, three floors and there's four units in the building. And you go like, well, we're I park like it never feels like where's my home within this.AndrewAnd I think they should like just focus on the unit versus the entire building. As far as the big exterior, they only the kitchens and it's like, well, this kitchen's actually pretty spacious, but the way they took the photo, you can't see all of the kitchen and the shape. And so it looks like there's one countertop to cut something on.AndrewAnd then once something like cooking, you're like, This looks miserable to cook in, it's tiny. And so they should have just had different angles on it. And you keep going to go and you're like, Oh, everything I do, it makes us feel like it's a small, cramped townhome they really don't want to live in. But you'll have to settle for versus like, Oh, it actually looks like a nice place to live.AndrewLike there's ten foot ceilings, you have your private outdoor space on there. And so it could be, I guess if you're struggling with townhomes, which is probably everybody, if you have townhomes, maybe like I look at it in that context, like am I reinforcing why people don't actually prefer townhomes first? For the most part if they're not actually like downtown or a walkable location?AndrewYeah, so we'll see if there's new content. Yeah, that.KevinAnd this is true for every community. Page One of my pet peeves is certainly community pages, where 95% of the images and the photo gallery for the community page are the model home. Yeah, I'm like, Oh, that's not the community, but it's even more so true in multifamily scenarios, settings where if you just had photos of the model versus the community, the walkability, the amenities and again, the area around it is the amenities.KevinThat's, that's why even in.AndrewI agree.KevinMarkets like you know, the broader metro area around Washington D.C. I think we still can be on a on a metro line and that is an important amenity of the community, even if it's not in the community and it's ten blocks down the street, it's still. So that just is even more critical. That's your pick because, I mean, that's just by default.KevinThat's why people are choosing multifamily, mostly because of affordability. And builders choose multifamily primarily because, I mean, this is what I heard my entire career, pretty much as I especially pre and VR, when when you're a smaller or even a large private builder and you're just trying to find opportunities on the landside piece of land as identified, I think it's going to go one way and then, you know, eight hour in two, it's like, you know, this isn't going to work as single family.KevinWe're going to have to turn it into multifamily. Yeah, very rarely for for a builder that's focused on the suburbs, do you do you target let's go find more multifamily product. There are those who do it and you know that. And that's why the people who do multifamily exclusively, just like builders do on your lot exclusively, are typically way better on your lot.KevinIf if 90% of a builder's portfolio single family and they just kind of sort of do multifamily again that's the other reason why that can be a challenge.AndrewDo you think multifamily is going to increase? I want to say substantially, but what does that word even mean? Is that five, ten, 20, 30, 40%, Do you think it's going to have a larger increase? And do you think builders will have more multifamily products the next five years from now compared to, say, ten years ago due to affordability and maintaining the margins they want to maintain?AndrewI mean, I would thinks and this my like dumb assumption is like, well, that kind of makes sense if if they.KevinI think the reason that my answer is yes is because land prices again are the main drivers. Yeah. And those don't seem to be improving like land prices and also becoming more affordable anytime soon, even in in even in an economic downturn. So yeah, but I guess my the reason it's making me hesitate is single family for rent and even just really dense single family is all know I was just in a home yesterday and it's a single family community that was built 15 years ago and the homes are traditional, single family homes.KevinIt's not a zero lot line community, if you're familiar with that terminology. There are a lot lines, but the houses can't be more than eight feet apart. And in where I'm from, that's kind of strange, especially for homes that are probably selling in the $500,000 range.AndrewYeah, And it.KevinIs like this is close.AndrewI mean, that's us. We're we're ten feet apart, you know, five feet and inside. So we're we're cozy with our neighbors. And you could probably. Yeah, that might have been the minimum we could do with our air. But the older homes, like older homes right there across the street, like out the back yard there on Thursday, 50 to 70 foot lots.AndrewAnd so they have quite a bit of room between between them. But we're twice the size square footage. So they made it work. I mean, they sold or they sold in a heartbeat, the smaller, much smaller lot sizes.KevinWell, yeah, my story is about lag times, which that's one of those terms that I just didn't hear a lot about or really fully understand until about 10 to 12 years ago. So, I mean, like eight years into my career in homebuilding and then I was like, okay, I'm understanding. But one of the reasons why homebuilding is so hard of an industry is the amount of time that passes between something changing and the result of that change.KevinA real clear example of this is back to land. Builders have to be looking 3 to 5 years out and saying, Where do I want my communities to be in 3 to 5 years? The physical location to figure out, is this the right price I should pay for this land? Will people want to live here in five years?KevinWhat price with what products and that they're tossing the dirt five years into the future in California longer. And so this lag effect is also what we're experiencing right now with interest rates and its impact on the economy. So everyone freaked out, Oh, my gosh, interest rates changed and it's going to be a disaster. Turns out the disaster hasn't happened yet.KevinPeople are still employed. You know, wages going up for the most part, people still buying homes. And it's because interest rates short term interest rates, which is what the Federal Reserve changes, that typically takes 24, I think 36 months before the impact of wherever the rate was changed. You has a fact because that's how long companies are borrowing from the bank at a particular loan and it doesn't have to be renewed for five years.KevinAnd so they're halfway through that at the rates change. And it doesn't really matter which one of the reasons the big tech companies right now are still firing on all cylinders is they've got $1,000,000,000 or I think in Apple's case, like 20 some billion dollars in cash. And so they're like cool interest rates are higher. We don't need your stupid interest rate bank.KevinYou just keep it. We've got cash. So lag as a term is just you know the delay from making a change to seeing its impact and it's real. They're all over the place in the world, but especially in our industry. And one of the things that I had a conversation with this week with one of our builder partners was a particular struggling neighborhood that we with with them and their team have been, I'd say, squirreling away like a squirrel, attacking a bird feeder, trying everything we can to try to make things work.KevinAnd not really a shock. This is one of the things we talked about. It seems like actually I'm going to give full context here. The the head of of sales and marketing made the comment said, you know, my my father made the comment that every time you all seem to focus on a community, things get better. And the joke is like you kind of like insinuate like, can't you just do that all the time for all of them, which, you know, as a, as the marketer perspective is like, can you just make sure the product and pricing is better so that things just work more often and they don't need to, you know, But that'sKevinthat's the healthy tension in the business. So things get better. But what's interesting is one of the takeaways was that the the getting better was related to the most recent thing. So this weekend, this past week, the number of appointments like tripled or quadrupled to the community. And the connection was what must have been the thing we changed on Friday or Thursday.KevinI was like, well, we can't. We can't say that. We really can't because for the prior 30 days we had taken the average amount of traffic to that community from like 1000 visitors a month to 14,000.AndrewIt's a few.KevinAnd and the concern was, hey, the the lead in appointment volume isn't correlating to that immediately. So we're not sure if these folks are the highest quality folks. So let's actually change some of the messaging adjust spend which the spend was already very, very healthy obviously to get to that level. And then it was like that must be the change that made the difference.KevinAnd I was like, What is your average time between website visit to lead, which most people would have a hard time calculating anyway? In this case, the builder actually has. I don't want to go into that right now because it's somewhat proprietary both to us and them, but they have another way of telling some of that cycle time.KevinBut as an example, one of the other builders you work with just told us yesterday they did their latest analysis from lead to contract, which everyone in this, listen should be able to calculate. Their average cycle time right now is 150 days, 150 days from getting the lead to getting a signed contract. There are reasons why and the type of builder they are that that would be longer.KevinBut the point is that is elongating, the lag is getting wider. And so just imagine if you're that builder and you get 300 leads in a month where you typically would get 100 and everyone gets excited and then you don't get sales for I don't even know what that is for five months.AndrewYeah.KevinSo 100 days.AndrewFive months.KevinYeah. So there's, there's, there's potentially four months where everyone's like those leads were all crap. They weren't worth it. What's going on? It's just really hard. If you don't understand the lags that are in the business to make the dots. So one of the things we talked about to try to bring some practical application here besides just understanding the concept and trying to figure out what your lags are in your business is privacy changes make all this really tough.KevinNow their CRM system does a better job than most at identifying source and medium, but it's still not obviously going to be perfect. We know that in time. It's a particular campaign can be even harder. One of the best good old fashioned ways to do this is just have actual start and stop definitions. So there's two ways to kind of do this good enough, I would say.KevinOne is it'll be really scary because this community just took off. But if you turned off all the extra advertising like cold turkey it on a day and then watch the lag from when you cold turkey to it to when does that appointment volume taper off. If it correlates like if if there's correlation there, then you can at least take some of that.KevinAnd now you could do that for individual channels. Like if you're concerned that the meta traffic or the Google traffic isn't good, you could just cold turkey one. But again, you're going to have to watch the lag. It's not going to be what happens tomorrow or next week. But this this idea of stopping, I'm actually trying to resurface as a really important concept.KevinYou know, we talk about sprints like do a two or three week sprint of of spend or change in strategy, then stop and see what happens. And I feel like right now the impetus for most people is just keep piling on, Just keep doing more.AndrewMm hmm.KevinAnd there's a couple of problems with that. One, you're not even really analyzing. You're just like more and more and more and more and more. And you don't have that. You can't you can't really tell. Like if you've if you've done ten experiments on one neighborhood and then things get better, you don't know.AndrewYou're stuck doing those ten forever. Yeah, maybe only two, right? I mean if you, if you get for ten. Yeah. You don't, you don't have answers.KevinYeah. I just that, that is actually for people who aren't trained marketers, you're going to have to help them understand the lag effect and the I didn't even know really that I was doing this. But but one of the in terms of the lag concept, but I used to tell my salespeople all the time at Hartland, if you tell me the last week of the month that you're freaking out and you're not, you're falling behind or you're not going to hit your sales plan, I can't help you.KevinI didn't frame it in the sense of the lag, but I just said it's too late because it's going to take me 2 to 3 weeks to create the traffic, to then have that interest develop for them to then reach out to get scheduled in for an appointment. It's not going to happen in a week. The only the only prayer we have of turning people that quickly is basically email and the phone texting or calling, and that's for someone already in the database.AndrewI feel like this really makes the case to be much more proactive and like the marketer, we should all be like, That's kind of obvious. Everyone should be more proactive.KevinNo, you're absolutely.AndrewBut they have thresholds of traffic that you monitor per community. So you're ahead of the salesperson who's on the last weekend of the month. They're stressed about their quota on the 23rd. They're like, Oh shoot, I need two more sales this weekend on the 27th, 28th of October. But if you already knew traffic was low on the ninth because you're like projecting it based on what you're seeing in analytics, like I need to bump that, traffic it up somehow and that could prevent things from from escalating to that situation.AndrewBut you need the threshold. So you need to figure out like, well, what's my number? What are the numbers for? It's gray and I don't really have to do anything before someone talks to me about it.KevinAnd before you set those thresholds, you better be doing your coffee and analytics time to be able to understand the patterns, because if you just create random defined thresholds.AndrewYeah.KevinThat's also just going to cause tail chasing. It's like because we already see this happening where people mishear our statement of a thousand units of traffic per community to get 1 to 2 sales from that neighborhood. And they think every neighborhood has to have 1000. But you can absolutely sell four homes off of 300 website visitors. That's allowed and does happen.KevinSo you have to be spending that time to really know where those things are, are going to be set. But that's where a lot of people get caught off guard. Last year at this time was they felt so comfortable with the backlog or the sales volume of of spring and summer that even though the numbers were all going down and we were we were saying on this podcast, other places like, hey, things are 1,000% slowing and slowing pretty quickly because people weren't looking at those leading indicators of traffic because everyone was so overwhelmed with the amount of activity that had been going on for the last two years.KevinMost builders really didn't even realize it was happening until like late summer, early fall. And then they started to freak out.AndrewTo like proactive thresholds. All right.KevinOn to the news. First up from Mashable.com, Metta has some new AI personalities and they are super cool people. That's intentionally bad grammar, but we've got people who look like Jenner's and Paris Hilton. Oh, is this a Snoop dog? I did not realize I was Snoop Dogg.AndrewSnoop. I don't know who the bottom four are on the right side. I don't know whether or not they seem like great people.KevinYeah, they're not all celebrities, but I think somebody for everybody and I think about half of them are the celebrity chat bots are live and they're weird is the subheadline from the article and this is my last intro. And then I'll let you guys share. Which do you think? But they're weird that from the article yet another chat bot with a celeb twist.KevinThat's right. And more chat bots baby. We were promised flying cars and hoverboards and instead we get to talk to bots that can just barely hold a conversation akin to your single worst interaction at a cocktail party. But it looks like a famous person. What do we think here?AndrewThis is Amanda you go.AmandaFrom for the Oh.AndrewYeah. Okay.AmandaGot creeped out by the fact.AndrewIt's it's depressing. It reminds me of the movie. And if you have time this weekend, you should watch it and you'll understand the reference. The movie is called Her H.E.R. Just heard her from 2013. He falls in love with the guy. This guy?AmandaOh, no.AndrewIt's super bizarre. It's very uncomfortable. All you're like, Is this really insane what's happening here? But it's won some awards. But it's it's it's definitely in the, like, eccentric, weird movie category. But it's this. But this. He falls in love with Scarlett Johansson, who is the voice actor, who is the A.I.. So, again, that's that's reasonable. So maybe meta onto something.AndrewLet's try to use celebrities as who you're interacting with, but still read it. You're like, this is okay.KevinSo the short answer from the online sales world who, you know, we love anything that would potentially allow us to connect with more people. This doesn't hit the market. We an agreement. Yeah, this is the agreement where you know okay so I think the interesting question is, is what led them down this path also wrong? Here's what I mean by that.KevinI watch my wife in particular and she follows influencers and I just you know, everyone knows how I feel about the word and the thing and whether we are. Do you convert to influencers or not. All the all that stuff. But let's say there is a workout influencer or last night I'm watching her use flip through her stories and she's like, Oh, I love this person.KevinAnd it's just very clearly an ad for some hair serum. And she's like, Oh, I love this. She's so great. I'm like, It says by now. And she's talking strangely high energy and how much she loves this product. And I go, Of course, she says she loves the product because she's selling you the product, she's making money and she's like, Well, but she designed it.KevinShe made it like that makes even more weird because she's talking about how much she loves this product that clearly the IKEA effect, right? I made this. It must be the best thing ever because it has my name like I did it and yet it doesn't matter. She's just enamored with it. So And every once in a while I see her actually comment or talk to these people who have hundreds of thousands of followers.KevinAnd it it gives her this weird high, I think of like I just interacted with an influencer, I guess somewhat akin to, you know, if Rich Barton or somebody on on Twitter X likes a tweet. But that's like in that scenario for me. I don't expect it and I don't it's their reaction to it, not me just talking or adding them.KevinThat is the exciting part. It's just like, oh, they, they, they read it, responded. There's this weird thing, I think that younger generations are like, I just like my kids just would love the idea of interacting with Mr. Beast in the smallest way possible. So I think there's something there that is directionally right. But they they've missed the mark badly.AndrewBut I think they missed because there's no brand assigned to these people for her to be like, okay, the Kardashians have a brand and that's why people want to associate with them. That's why they buy their products. Mark at the summit, I forgot his last name. Mark from a thousand. What? You buy that apparel because it makes you feel part of the club or makes you feel a certain way.AndrewSo like who we follow also I think makes us feel a certain way or we get whatever emotion out of following that person, interacting with them, or just interacting even just engaging with our social media. And as for Metta, it's like I feel like they're trying to piggyback that experience of like, Oh, I'm interacting with this feels like Tom Brady.AndrewIt talks like Tom Brady or like, This isn't Tom Brady. Tom's on a yacht in Miami doing whatever the heck he wants. He's not this isn't a bot. So like, it's like, of course this is fake. It feels like you're like tricking me, like I'm like a child or something like. And, like, that's that's not the real Elsa at Disney World.AndrewLike, I know that's not her.AmandaRight?AndrewBut they do like. The four year old, the three year old, the five year old. Like they're like, That's Elsa. Oh, my gosh, This is amazing. So, like, they're trying to trick us, like we're like children or something. Something like that. That's why I think the cringes. Yeah, it's, it's, it's obviously fake like. And it feels Grinchy. It's a long way to get that point, I think.KevinYeah. The first message is not not having the real name. So it shows Mr. B's likeness, but his name is Zach. It's almost like right from the get go, you're looking at a fake coach purse that you know is fake and everyone else will know is fake because it doesn't even say coach. But everything about it looks like a coach.KevinPurses like once. Scott you're missing the whole better feel of the essence of the brand, right? If it was a if it's a knock off and no one knows is a knockoff, then you know that that's one thing. But this is a clear knockoff.AndrewAnd yeah.KevinIt, yeah, it just doesn't look that good. But I do think there's something to wanting to interact with these, these people that we know or feeling like there's interaction, but it's just not even close to the, to the mark it's fun.AndrewSomeone's probably going to come up with a something very similar and they'll use like deepfake technology. And so you could like video chat with Tom Brady and it's just people, thousands of people in a call center that then they could use their face and then they'll just like use Deepfake to be like, Oh, I'm actually talking to Tom Brady.AndrewCool. Like, what are you doing it with? So they take his voice and that seems more like a fun experience. It's a waste of time and it's not chat bot, but it's like, look, I talk to Tom Brady but it's not Tom Brady.KevinI mean, there are Elvis impersonators and not all of them look like Elvis. Maybe we're completely wrong.AndrewThat's true. We'll find out. That might be gone in a year. All right.KevinNext up, there is an actual article, but we're linking to a Twitter, a tweet on X. Well, I've finally crossed the chasm. I call Matamata pretty consistently, but I am having a hard time with X. I agree. A gentleman named Alexis who said big news for ADD used today, accessible dwelling, accessory dwelling units. These are essentially small homes connected or not connected, but in the yard or somehow on property.KevinThat's for another primary residence have now been able. The FHA policy now allows 82 rental income to qualify for mortgages, further cementing their role in the housing market. And in places like California, you know, if you can rent out your ADU for 3500 bucks a month and that counts, as you know, rental income, that's a big deal.AmandaYeah, that's really neat.AndrewYeah, that's neat.AmandaI actually talked about this on my coaching call today. Like, because, you know, like people are running into this of a high interest rates affordability like it's not it's a condition now that you know just an objection it's the conditions that like how could you overcome that and I thought this was like possibly thinking out of the box like a great opportunity for builders.AmandaYou know, like they build the customers house, Maybe they can build a little tiny home to like L.A. money.KevinOr I mean, it's.AmandaActually.KevinThe construction of an 80. You can be folded in to New construction financing. So now it's like, I'm going to build both these things.AmandaYeah.KevinYeah, yeah.AndrewYeah.AmandaThat's true.KevinI think lenders really may begin offering borrowed mortgages on properties that they to use on the new policies effective immediately. Mm.AndrewYeah. So Alexis builds what appears to be areas that look really nice like they're, they like they would fit in a backyard better than a tiny home looking looking thing like they're really.KevinNice $350,000, probably tiny others.AndrewThey're pricey. My first thought I think it's neat, but I'm like, okay should someone who's buying through an FHA be a landlord? And will this like what is their rate if they have to use 82 income to qualify? Like I'm like, does that hold significantly higher risk? Because if it's ever vacant or if it's vacant for x percent two months out of the year, can I make their mortgage if they don't have that income for two months or three months or four months or something?AndrewSo you qualify for it, or maybe they've been paying rent. That's actually more than what their new mortgage would be. And they're like, Please, just let me do something. I'm not even I rent that thing out there, but my rent now is 5500 a month. I'm a finance and I'll be 4400 per month and I'm saying they'll be rental income.AndrewYeah, I like that.KevinThere's certainly be unintended consequences from this. Like one of the comments on here is I have a house with a garage that I want to convert into an 80. You, you know, well this helped me and so it might Yeah. And then and it might improve your value. It might lower the value of the primary residence if you don't no longer have a garage.KevinSo but I mean people California are super excited about this. And the one I know if it's this particular change or something else that because I think call it the state of California also passed a different law related to its use. But every individual municipality has to basically opt in or say, yes, that's allowed. And so in the markets, even where this is the would be the biggest deal because a lot of aid use already exists in California is can't qualify each individual market.KevinSo L.A., San Diego, you go service each town has to say, yes, that's allowed and that's going to take time. And it won't necessarily be applied everywhere, but super interesting. Next up from TechCrunch, Google's AI powered search experience can now generate images and write drafts. So this is kind of the only lead in here from this article. Is that the trend?KevinFor sure? You've got folks like Jackie Beatty or Openai who are trying to create brand new platforms using alarms and AI powered tools. And then the other trend is just integrate those kind of tools within the already standard platforms. An example of this is Adobe. Adobe is like, I see, I see you daily and I see you, I have to say discord, use it via discord.KevinBut what's the other Netherlands?AndrewI lose, I lose track anyway.KevinThat's what I use all the time. So it's crazy. I can't think of it, but they're like cool and nice. Try trying to like, you know, integrate artificial intelligence in images. We're just going to drop it into Photoshop Illustrator and all the tools that real creatives already use. So they don't need your other little silly thing because it's going to just be built into the platform that those experts already use.KevinSo this to me is kind of big picture. What Google is doing here is let's just integrate all this right into the core product. But what else are your thoughts on this one wager.AndrewI'm a fan. I think it's super cool. The because I think all the tools you've mentioned, they are not user friendly. Like for normal people to use.KevinHaving to learn the average just how to use discord to to use what is the premiere generative visual tool, which I can't think of the name of, is they got.AndrewTo go to Discord first. So it's like, it's annoying. Yeah, it's not accessible. And that's I think that's the way to for the fastest progress is to make it accessible to everybody where there's no login, there's no credits or whatever you have to buy to get it and make it work. I know it's expensive to run these things by Google pushing it.AndrewI'm all for that because I will. I think that will push progress on this a lot faster for the robots to take over the world. Just getting the last one or not, I'm all for it. Let's let's do it. This will help with them be easier to make PowerPoints and decks and presentations. This is what I need. Yeah.KevinAnd it's it's not everything. And they're they're doing it kind of interesting where the one example in the article and I saw a video on this as well if you do a Halloween table setting search and click images in Google where you see you'll see all the normal images and then you'll just see a box that says create something new with our generative A.I. tool.KevinAnd then you click that it will create four additional images for you out of thin air. And so it's it's not like, again, that's trying to incorporate to the to the image search you're already going to. And then it's like if you're not finding exactly what you're looking for, just make it. I think it's I think a smart also, by the way, when you try some terms, that box does not appear.KevinAnd my other thought is, is there some initial scrub there that goes? Is there enough images that we believe would it be highly correlated to this? Then we don't even need to show this generative AI option because there's already.AndrewLike.Kevin10,000 really good options. It might only be appearing in less, less popular searches.AndrewYeah, let's play with that. That's fun.KevinAll right. Next up, we've got the numbers. We've got the third quarter.AmandaWe balanced.KevinIt was benchmark data.AmandaIs this.KevinIs this like a world premiere.AmandaAnd release? Yeah. Okay. Hot out the press. I yeah. So I prepare these calculations with the benchmarks every quarter they call me the nerd over here so many ways. But but good numbers So yeah I compare it to quarter two. So benchmarks for quarter three are lead to appointment. We have 40% though, that went down just by 1%.AmandaSo kind of steady appointment to sell 19%, which is down 2% from quarter to that contribution that went up, which is really neat to see. The online sales contribution went up to 48%, whereas quarter two with 46% and quarter one with 45%. So not only increasing, which is very exciting. Yeah. One thing to point out though, is that leads they did go down by around 15% last count from quarter to quarter three.AmandaSo I'm going to pick your brain off of that. So why do you think lead counts are dropping and doesn't even matter? Or tell us what you think.KevinWhat your rivals and I both saw the same tweet from Lance, formerly of Forbes. He just started his own newsletter on housing data. Now, be a good follow or a sign up if you're if you if you like, that kind of nerdy content. But he just said, hey, basically I crunched the numbers and October is the least affordable month for housing in the last get ready 100 years.AmandaOh least affordable month and.AndrewWe have no problems with affordable.KevinWe got no issues here. Oh work. In fact I think this is this is just data that I saw about an hour ago and I don't have it still pulled up, but I believe of the National Association of Realtors just came out with updated data that showed for the I think for the first time in at least like the last flying blind here 20, 30 years, there are under 4 million transactions that are that are currently like they call it annualized transactions.KevinSo they take a data point and they say if it stayed here and was and happened over 12 months, this would be the number and it was the lowest that it had been in whatever time frame they were talking about, and it was below 4,000,003.96, I think. And so there and the other end and little piece of the puzzle, Amanda, is a lot of our builders who do highly partner with local real estate professionals like were.KevinAnd these are major markets, not like top 15 markets in the country. They're calling the top two or three agents in the market that they've had great relations with. And they're like, Hey, we've got this great thing or we've got this opportunity, We've got these homes. And the response from these these are the best of the best agents and those markets are that sounds awesome.KevinI have no. One to work with. I don't have customers.AndrewWow.KevinTo work with. You know, so 15% those aren't too bad. And the other thing is the overall slope. But what we can see as well from home builder data and other data providers is that the slope of the decline this year is nowhere near as steep as last year. So last year in this and the third and fourth quarter, it just dropped almost actually almost as severely.KevinThis is all transactions used and new, almost as severely as during the Great Recession. It wasn't starting at a higher high like that chart. You look at it, it's just like, oh my goodness, down 80%. Some ridiculous number. But the steepness of the curve is severe but pretty short. This year we didn't ever get as high as last year's highs, but the decline and the slope of the decline is more steady and slow.KevinSo take your poison. Would you rather be down 15% or I bet if you went and looked at the same data last year, third quarter, second quarter. Mm. Just My quick guess would be it'd be 35. So you know that's the thing with percentages is Yeah. The higher high probably felt great. Yeah. But the ride down probably felt worse.AmandaRight. That makes sense. Mm hmm. Yeah.KevinAnd I'm most interested in the apartment to sell ratio. I got 90%. That's what you said was.AmandaFor 19%. Now.KevinThat's still freaking awesome.AmandaI agree.AndrewDown from 21%, I think. Right?AmandaYeah.AndrewSo that's shifted.AmandaAll in 2%. Yeah. Yeah, yeah. And I love these benchmarks because, you know, it's just such a good overall image because, you know, it's all market that's large builders, small builders established online program, new programs. So it's just a really great mix to have an overall view.KevinYeah.AmandaYeah.AndrewIt's real, real data.KevinOh, hey, something just happened. I think. I think somewhere in the last hour we just crossed over officially 25000 minutes of the podcast, which does means I said yesterday so you could listen to market proof marketing Monday through Friday for 8 hours a day and still be able to listen to a fresh new episode for you for over 60 days now.KevinFor over two months now, the tools.AndrewYou will see.AmandaThem catch.AndrewYour life change. It'll be like a sitcom, like an had two kids here now. Yes. Three, seven has a new house like all these things that have happened.KevinI mean, again, the IKEA effect is real. So it might just be because we made it. But if I ran a marketing department and hired someone who was brand, I would be tempted to just mandate like, Yeah, over the next three months I'll give you three months, but you need to listen to like just have it in the background.KevinYou don't need smooth jazz, you don't need rock and roll or country. Just listen. I know it happened years ago. Just listen to it. Anyway.AndrewMy like reprogram their brain. And so if they had something wrong with the brain, maybe it fixes that. There's nothing wrong with it. Maybe there might be something wrong with it, then maybe that'll be fine. Yeah.KevinOkay. So you're going to have to make sure we do favorites because we're going to end on a depressing note on the news stories here, unfortunately. But according to Redfin.com, homebuyers must earn $115,000. That's obviously household income to afford the typical U.S. home. That's $40,000 more than the typical American household actually earns. So, okay, some of you listening are like, I mean, that's that's a lot of money, but that's not terrible.KevinBut when you put it in the context of the average household brings in $75,000, that's a problem.AndrewIt's a lot of buyers that put that were previously in the market are not in the market like they are. They cannot participate. That's a better way. They are they cannot participate in home buying those people because of that.KevinYep. And the typical years homebuyers monthly mortgage payment is 20 $866 an all time high, up 20% from a year earlier.AndrewThat's a bit of a mortgage so crazy.KevinBut you know rates are just a state of mind. Just take the rate.AndrewYou know, just stay in it like it's not permanent. I mean, you still might need 28, 66 for the average average.KevinBut yes, and I do you know, some of the folks that I see posting the stuff I like, I get it when you're speaking to people within the industry, you're you're trying to motivate, put things in context. But then there's other people who are within the industry who are clearly talking to just the average person. And you're like, I don't think you come across the way.KevinYou think you come across here.AndrewYeah, I mean.KevinIt's not if you live in the Bay Area, California, by the way, you have to earn at least $400,000. Oh.AndrewNo big deal.KevinNo big deal.AndrewNo big deal.KevinRust Belt buyers, nearly CENTCOM, Detroit home buyers only have to earn $52,000. Wow. But it's still a 19% increase from last year.AndrewYeah, that's in Detroit. You could buy some houses for like nothing because.KevinYes, if yes, like $10 if you.AndrewThere are.KevinRoom and even give it away, because that sounds interesting. There's Japanese, there's homes in Japan, they're the same way. And Spain and and other parts of Asia. You buy this home for ten bucks. But before you jump out and say, I'm going to become a real estate mogul, you have to promise. In Detroit's case, I think you have three years to bring the house up to a certain level of livability or you lose it again.AndrewSo I still don't.KevinWant people buying up a bunch of land and doing nothing with it.AndrewAmanda has it's close to Detroit, so we move to Detroit.AmandaI know, but no, but actually like 3 hours. But I have your place there. But I am close. Yes.AndrewYou don't. You have no reason to go there.AmandaYou think I'm an area of Detroit.KevinI'm a bigger fan of the west side of Michigan, generally speaking. Okay. But you didn't. You don't care about that. That's not why you're listening to the show. How does affordability get fixed? I think everyone keeps saying the way to fix affordability is just to build more. But I just want to remind everyone that there are still this problem of the price of land, and that's not helping things, and it's build more of a certain type of home which zoning and or voters will not allow.KevinSo you either have the problem, not my backyard or zoning or building a bunch of stuff in a place where no one is, which is its own challenge. So not likely to to be fine is.AndrewNot in my back.KevinEven if manufactured housing takes off like a rocket.AndrewYeah.KevinMm hmm. All right, so let's end with current favorites. Yeah. Got to be a favorite this time. Amanda What do you got?AmandaYeah, well, I. I have really been loving. A favorite is the role of coaching that I have been able to kind of step into the role full time. And it's just been really neat to see the best of clients and kind of be with them through the journey of like really establishing their program. Like Candace, that whole homes, for example, we do the builder shop and she was one of the ones that made it all the way through one of the three.AmandaAnd I was like proud coach moment and thought that just really neat to see their numbers kind of come to life when when they don't have that before and then also see them grow like as they as you spend time with them. So I've been loving that and I've also been loving the fall weather, the shift in perspective, you know, like I was like, no, I don't want summer to end, but that's the best we are.AmandaAnd the the leaves are beautiful and I'm enjoying it.AndrewSo your life change color?AmandaYeah. Without changing color. So they're so prett

This Week in Startups is brought to you by… Crowdbotics. Great ideas can change the world, and Crowdbotics is the fastest way to turn those ideas into code. Get a free scoping session for your next big app idea at crowdbotics.com/twist OpenPhone. Create business phone numbers for you and your team that work through an app on your smartphone or desktop. TWiST listeners can get an extra 20% off any plan for your first 6 months at openphone.com/twist Fitbod. Tired of doing the same workouts at the gym? Fitbod will build you personalized workouts that help you progress with every set. Get 25% off your subscription or try out the app for FREE when you sign up now at fitbod.me/TWIST. * Today's show: Rich Barton joins Jason to give a masterclass on his thought process behind creating evocative top-tier brands like Zillow, Expedia, and Glassdoor. (22:02) Rich also discusses the lessons he learned from Bill Gates during his time at Microsoft (49:22), how tech management has evolved (57:04), and more! Rich's blog on branding: https://www.hopperanddropper.com/syllables-scrabble-letters-and-picking-brand-names * Time stamps: (0:00) Zillow CEO Rich Barton joins Jason (1:58) The creation of Zillow's Zestimate (7:03) “Tension and Importance” and empowering people in the workplace (13:24) Crowdbotics - Get a free scoping session for your next big app idea at crowdbotics.com/twist (14:53) Branding and creating iconic company names (16:53) Navigating major layoffs (22:02) Back to building top-tier brands, “What got us here, won't get us there” (27:54) OpenPhone - Get 20% off your first six months at https://openphone.com/twist (29:25) Steering the complex dynamics of startup-attorney interactions (33:22) Defying convention to create stellar products and the effects digital currency (37:54) Fitbod - Get 25% off at https://fitbod.me/twist (39:23) Innovating in the real estate industry (49:22) Lessons Rich learned from Bill Gates during his time at Microsoft (57:04) How tech management has evolved (1:01:27) How Covid-19 and remote work changed the landscape (1:07:02) The concept of “iBuying” (1:10:31) Continuous high-interest rates, “zoom towns”, and the “great reshuffling” * Follow Rich: https://twitter.com/Rich_Barton * Read LAUNCH Fund 4 Deal Memo: https://www.launch.co/four Apply for Funding: https://www.launch.co/apply Buy ANGEL: https://www.angelthebook.com Great recent interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland, PrayingForExits, Jenny Lefcourt Check out Jason's suite of newsletters: https://substack.com/@calacanis * Follow Jason: Twitter: https://twitter.com/jason Instagram: https://www.instagram.com/jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis * Follow TWiST: Substack: https://twistartups.substack.com Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin * Subscribe to the Founder University Podcast: https://www.founder.university/podcast

As we look ahead to the landmark 10th Skift Global Forum happening this September in New York City, today we take a look back at a panel session from Skift Global Forum 2016 correctly billed as "Legends of Online Travel". On the panel were: Brad Gerstner, Founder, Chairman and CEO of Altimeter Capital; Rich Barton, co founder and, at the time, Executive chairman of Zillow Group (he is currently CEO); Dara Khosrowshahi, then the President and CEO of Expedia (he is currently the CEO of Uber); Jay Walker, Founder of Priceline and CEO of Upside; and moderator Dennis Schaal, Skift's Founding and Executive editor, who earlier that year had released the "Definitive Oral History of Online Travel", the authoritative account of the rise of the online travel agency.  We revisit this session from nearly 7 years ago to assess just how prescient these esteemed speakers were as they discussed the future of online travel as seen from that far away time, still 3+ years before the onset of the global covid pandemic, and 6+ years from the broad release of ChatGPT, the widely-used generative AI tool that has sparked imaginations throughout the world and travel industry. As the panelists in this session point out, many of their predictions have been around since the 1990s ".com" boom and before, so what makes now the moment? The prognostications you'll hear in this session give us some insight into the answer, and we can be certain that this question will loom large at the coming Skift Global Forum as our sessions look to tackle the theme of “Connection in the Age of AI”.

John Butler in conversation with David Eastaugh https://www.dieselparkwest.com/ The tenth Diesel Park West album, ‘Not Quite The American Dream' was released on July 29, 2022. The album was recorded during the COVID lockdowns of 2020. It was preceded by a couple of singles, 'One Shot of Happiness' and 'Secondary Modern Man'. Both of which have charted on the British Heritage Chart. Rob Morris and Ian Michie have both left the band. A new band has been put together featuring John Butler, Rich Barton, Daryl Hopper (bass) and Dave Bryant (drums).

Rich Barton is the CEO and co-founder of Zillow Group, where he leads the company's work to transform how people buy, sell, rent, and finance homes. Zillow is a real estate marketplace company that was founded in 2006 and has literally become a household name.Prior to Zillow, Rich also founded the online travel company and Microsoft spinoff, Expedia, as well as job search engine and career community, Glassdoor.Barton was also a venture partner at Benchmark and is on the Board of Directors of Netflix, Nextdoor, Artsy, and more.*Brought to you by Outer. Outer makes the world's most beautiful, comfortable, innovative, and high-quality outdoor furniture - ALL from sustainable materials - and is the ONLY outdoor furniture with a patented built-in cover to make protecting it effortless. From teak chairs to fire pit tables, everything Outer makes has the look and feel of what you'd expect at a 5-star resort, for less than you'd pay at a big box store for something that won't last.For a limited time, get 10% off and FREE shipping at http://www.liveouter.com/thefounderhour. Terms and conditions apply.*SUBSCRIBE TO OUR NEWSLETTER & STAY UPDATED > http://bit.ly/tfh-newsletterFOLLOW TFH ON INSTAGRAM > http://www.instagram.com/thefounderhourFOLLOW TFH ON TWITTER > http://www.twitter.com/thefounderhourINTERESTED IN BECOMING A SPONSOR? EMAIL US > partnerships@thefounderhour.com

Nora chats with Rich Barton, the co-founder and CEO of Zillow. He offers potential solutions to the housing crisis, and his view on the future of real estate and home-buying. We'll also hear about why Zillow has adopted what it calls a “Cloud-HQ” model, where employees are all able to work remotely. Host: Nora Ali Producer: Olivia Meade    Video Editor: Sebastian Vega Production, Mixing & Sound Design: Daniel Markus, Griffin Jennings Music: Daniel Markus & Breakmaster Cylinder Fact Checker: Kate Brandt  Senior Producer: Katherine Milsop Full transcripts for all Business Casual episodes available at https://businesscasual.fm

The podcast makes its first ever visit to authors of a book. UIAAA Connection #106 – Rich Barton, CMAA, Carol Dozibrin, CMAA, and Mike Ellson, CMAA, is now available. The three authors, all Executive Directors, share how an idea a few years ago became the book – Leadership with Legacy in Education-Based Athletics. This episode takes you on fascinating ride to world of self-publishing and how to make your dream a reality. You don't want to miss this episode! Please Listen, Learn and Share! You can subscribe to UIAAA TV on YouTube!

A SPECIAL Tech Tuesday feature the Leadership With Legacy Team of Rich Barton, CMAA and Carol Dozibrin, CMAA plus Mike Ellson, CMAA who have recorded their own great "Lessons" along with those from some of the Very Best ADs in our profession to create LEADERSHIP WITH LEGACY - a great new book! filled with nothing but "Best Practices." There are a LOT of great AD related books out there but THIS ONE truly needs to be in your library! Pick up you copy now, and take a listen to Rich, Carol, and Mike as they share their stories on The Educational AD Podcast! --- Send in a voice message: https://anchor.fm/educational-ad-podcast/message Support this podcast: https://anchor.fm/educational-ad-podcast/support

Tune in for an insightful journey into the prime entrepreneurial mindset of Rich Barton, ZIllow Group CEO and Expedia Founder. In conversation with LionTree Managing Director Antal Runneboom, Rich discusses his path from conceptualizing and launching Expedia in 1994 while at Microsoft to the development and launch of the preeminent real estate site Zillow, where he serves as CEO - overseeing that company's enviable growth path. The discussion is full of pearls of wisdom for any aspiring business creator, as well as a strong dose of the practicality and transparency that has earmarked his success.Find and rate KindredCast on Apple Podcasts or wherever you listen. For more content, follow KindredCast on Twitter, Instagram and Facebook. You can hear our radio show on SiriusXM Business Radio, channel 132 and on United Airlines. And you can find all of Kindred Media's podcasts and subscribe to our daily newsletter, “Take a Break with Kindred Media,” here (https://kindredmedia.com).Please read before listening: http://www.liontree.com/podcast-notices.htmlSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

I check in with great investor, Sean Emory CIO of Avory & Co. We talked about the macro and inflationary environment and when we might see a rate of change tailwind. We got back into the company fundamentals, that's what really matters. We talked about $NTNX growing business case as well as updates on $FVRR $ZG $CPRI Nutanix is still a mis-understood name and acquisition target cited in the press on numerous occasions. Capri is still cheap and their brands Kors, Jimmy Choo and Versace remain strong. Fiverr is still the largest global platform for contract work and technically, the stock looks like a ball under water opportunity. Zillow has been dragged down with the real estate group and remains the leader in real estate search and services. Founder and CEO Rich Barton owns about 14/15% of the biz and they have $3.5B in cash so the stock looks quite interesting after a massive drawdown. 2023 should be the year where company fundamentals matter and the year when great businesses set themselves apart from the peers. You can find more information at linker.ee/avoryco https://www.globalbrandsmatter.com

Is Zach Wilson holding a playoff-caliber team back? Or did he just have a bad game? We bring on new guest and die-hard Jets fan, Rich Barton to break down the recent injuries, Elijah Moore drama, and Zach Wilson uncertainty, as well as look ahead to the Bills game this Sunday. Do the Jets have a shot? Tune in to find out. Watch this show on YouTube: Click Here Follow us on Twitter: @JetUpPod Follow us on Instagram: @JetUpPodcast Like us on Facebook: @RosterUpMedia Check out our other fantasy football podcasts and articles at Roster Up Media --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Nora chats with Rich Barton, the co-founder and CEO of Zillow. He offers potential solutions to the housing crisis, and his view on the future of real estate and home-buying. We'll also hear about why Zillow has adopted what it calls a “Cloud-HQ” model, where employees are all able to work remotely. For more info on our presenting sponsor, check out realvision.com/businesscasual.  Host: Nora Ali Producer: Olivia Meade    Video Editor: Sebastian Vega Production, Mixing & Sound Design: Daniel Markus, Griffin Jennings Music: Daniel Markus & Breakmaster Cylinder Fact Checker: Kate Brandt  Senior Producer: Katherine Milsop VP, Head of Multimedia: Sarah Singer  Full transcripts for all Business Casual episodes available at https://businesscasual.fm

We're chatting about Google My Business today, and you guys have probably heard of this. I've been hearing nothing but success stories of people all over the place that are using Google My Business and getting listings, getting buyers, getting clients, and it makes a lot of sense. The problem is I don't really know how it works. So we're bringing on a returning guest who's been on here if you guys followed the show, we talked about how to dominate your sphere of influence through Facebook groups and stay in touch with them.Will Penney has been a real estate professional since 1988, Will has overseen the purchase and sale of more than $250,000,000 worth of real estate in Stow, OH and its surrounding communities. Be sure to check out his website for more information. Three Things You'll Learn in This EpisodeHow to use Google My BusinessIs it better than Zillow reviews?How reviews help your businessResourcesLearn more about Will PenneyReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscript:So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Cuevas a real estate marketing. This podcast is all about building a strong personal brand people have come to know, like trust, and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them. Let's get started. What's up ladies and gentlemen, welcome another episode of real estate marketing, dude, podcasts, what we're chatting about today is going to be something that I've been hearing quite a little bit of buzz about. But I'll be honest with you, I have no idea how it works. So anytime that happens, we bring on guests that are experts in different areas of different aspects of real estate marketing, and then we have them, school us on what we need to know about it. And what we're chatting about today is going to be Google My Business. And you guys have probably heard this, and I've been hearing nothing but success stories of people all over the place that are using Google My Business and getting listings, getting buyers getting clients. And it makes a lot of sense. The problem is I don't really know how it works. Exactly. So we're bringing on a returning guest who's been on here if you guys followed a show, we talked about how to generate dominate your sphere of influence through Facebook groups and stay in touch of them. That was Mr. Will Penny and will Penny is back with another piece of content that he's having a lot of success on. So my kids get it on the show was become a good friend. And he knows his stuff. And he's just sort of tells it how it is. He's blunt. He tells it and doesn't BS people. So I appreciate that and appreciate you coming back on the show. We'll How you doing buddy?I'm glad to be back man. I always appreciate listen to your podcast. And you're right, we have become good friends. I like the relationship we have. So I started listening to your podcast because you all you talk about is relationship marketing, through video and other you know, other tools and our business is about 70% referrals. My little team of five we do about 200 deals a year. We're just south of Cleveland, Ohio. I've been a realtor since 1988 34 years ago when I was 1953. Now so dinosaur on oldest shit. I look about my hair. But anyway, that my 35th year in the business and we just cut Zillow out completely I paid them $40 a month now for a crap zip code just so I can keep my premiere agent profile. Because we got 557 reviews on Zillow on Zillow. About two years ago, I predicted that Zillow would eventually shut down their find an agent page. And the reason is, is that they're going to the FLEX program throughout the country where they're charging referral fees, especially now that they got out of the eye buyer world because that was a complete debacle. Richard Barton missed the mark there. So anyway, I think that's his name, isn't it Rich Barton,some, the guy who started the Travelocity,whatever. So anyway, I figured that they would end up shutting down the Find an agent page, because you can't get you can't ensure that you're gonna get referral fees. If you allow a if you allow consumers to search for agents, it kind of makes sense. They haven't done it yet, but they're gonna. So I had all my Zillow reviews, because we've been all in for reviews for a long time. I've done a bunch of interviews on how to get 500 reviews on Zillow, but I don't have anybody review me on Zillow now. So two years ago, I started looking into Google, you can have a Google profile for free. It's starting to get saturated. So the key is that you need to have a lot of reviews, you need to respond to the reviews. So I just started having my clients review me on Google, then, about a year and a half ago, I, I was made aware of their GLS program, Google Local Services. And basically it's a Google Pay paid ad. So they promote you, you have to get background check. They do. You know they check to make sure you got insurance to check to make sure you've got no weird history. And then they give you a nice little green checkmark saying Google verified and then you have to pay a budget. You can pick the budget, but then they promote you. If someone puts in top real estate agents or top Realtors near me, you show up, you show up. Sothis is Google My Business.It's just Yeah, I mean, I don't know. Google Local Services is a sponsored ad program. They actually have a program called GLS Google Local Services. And you can Google that. And anyway, you can get you can you you can set up your own profile, but then they set up another one for you for the GLS program because that's all paid it's not ordered.So Well, let me unwind this a little bit. You got pissed off at Zillow two years ago, because you saw what was coming down the pipe there. You're going to flex programming and you had a lot of your social proof on Zillow 500 Plus Reviews. So two years ago, you just started figuring out I gotta find somewhere else for my reviews because Zillow is gonna backdoor me. And then you sort of just ended up getting more listings doing this, right.Yeah, because where many listings you generate amonth off your Google My Business? And I want to go from the end of the back?Oh, at least one. Great. And that's you pay for that?Is there any ad costs involved? Yeah.So my, my spend is 1200 a month. So you figure my average commission check even in Ohio is about 6700. And the cool thing is because it's social proof, by the time they call you, they've they've checked you out, I mean, you're you're attracting the type of consumer that values trust, and they value. They value a referral from hundreds of people versus aunt Matilda.So how do you? How many reviews do you have up right now? And Google?I think 212 212.And that's after the last two years of doing it, right?Yeah, but we, we've made getting reviews part of our process since 2010, when I joined Zillow. So we had a warning to everyone, my little public service announcement, my RSA realtor service announcement, do not ask for reviews, unless you get your process under control. Because if you're not answering your phone, or you only text or you like to just respond to emails, or if you, if you, if you delay, like how long it takes for someone to be able to get a hold of you, because you're spending six hours a day watching Instagram reels and you can't get anything else done, then don't ask for reviews because the truth will come out, and you won't like that. So we found that asking for reviews for us is the same as having a body cam as a police officer, you you tend to you tend to pay attention to what you're doing. Because everyone's watching. And when you ask for reviews, they're gonna tell you No, they'll either not give you one because they don't want to be confrontational, or they're gonna give you a really good one because they love you. So the key is to provide excellent service set expectations, communicate, be accessible. It's not that hard. And then, you know, getting reviews on Google is probably in my opinion, the best place to be right now.I get so how many reviews and but you're paying $1,200 a month to get promoted. So when people search tourister that's the local business thing. So they're they're pumping you out in the front, right?Yeah. So what happens is you get you get impressions. So you, you bid for it. It's all auction based, just like Zillow. And I say, and basically you can trust Google. I mean, maybe I'm naively trusting them. But you know, they, they want you to get you the most value for your money. That's how they've remained where they are. So I just have it set up so that they get to choose how much I want to bid so that they give me the best possible value. I'm trusting. I mean, it's a little wizard of oz easy for me, because I don't know what it's all tied to. But I don't know what's behind the curtain. But so far, you know, most of the weeks I don't hit my budget.Yeah. So I got to, let's get into how to ask and how to get testimonials. Because this is always a problem with people. I still have it, I don't think I have it. I know it's in my home office. I still have. I have a binder, it's a paper binder, and it was like this thick. So if you guys can't see this, it's about three inches, I'm making a three inch space between my fingers. I used to get all my I used to get I used to get all my testimonies on paper, and I used to ask them and then write them down. And then I would put the listing sheet next to it. And I would have this like binder ended up being like 15 pounds. And I would go to my listing presentations and I just dropped the binder on it costs $15 to create because there's that many papers. And I put the binder on the listing table or on the table and be like alright, so here's a bunch of my client reviews and all that. And some people would have me leave it but most people would never didn't want to take like a 15 pound book of testimonials. But I'd have their phone number, their pictures and the listing sheet of the property they purchased. And I had to do that early on because I was young. And I was like 27 and my prime and real estate 2829 30. But even then people still are like, Hey, you got to still prove yourself like you got to do what other people say about you is more powerful than what you'll ever say about yourself. And that's why your reviews page is the number one visited page on your site. It is on mine. And there's a reason why every website has a reviews page. It's because of what other people say about you and regardless of what people are thinking about when they're making a decision on on a purchasing decision. One of the thoughts that goes past their mind is like, well, what's everyone else saying about him? And that's what reviews are for. So like, you have to get reviews nowadays. The problem is, is that people get so excited about getting a commission that they forget to insert this into their process. And they don't get the review. Because if you wait too long, are you ever gonna get the review? Will you get the testimonial three weeks after closing?No, no, I text them the day they get the keys. But here's another major problem. And it goes back to what you do for a living. You know, retargeting if you don't even have the energy or the motivation or drive to ask your client to do you a solid and give you a review, yet probably don't have a system in place to stay in touch with them. You don't I mean, it's all tied together. Because the average we are paying no lead generation costs right now. Last summer when I was on talking about my Facebook group. And that business that I have, we we were still spending 1800 bucks a month on Zillow. Well, I can them two months ago, because they were they have flex in our area. They were taking my $1,800 they guaranteed me 2.6 leads a month.What's What's that? Like? For 1800? bucks?Yeah, what's that? 607 100 bucks a lead? I mean, I would walk a whole neighborhood for you for 1600 bucks for two hours and get you two leads. You don't I mean, it's like, it makes no sense. You, the value is just horrible. So I just cut them out. But the reason I was able to cut them out, is because over 70% of our business is referrals from past clients, you know, then we have client events. We do some mailings. You know, that kind of stuff. I'm I'm starting to do more. I'm starting to do more videos. By the way, there's a guy locally, Joe Tato, who is a client of yours, that kid is crushing it on YouTube, thanks to you. He I think that he's, he's, I think he puts he attributes you to his success more, more so than I think anybody so I just want to throw that out to you. Yeah, he's right in my market.Yeah, good. Good. You guys hear that? Like people get to know who you are when you work with us. It's pretty nice.Anyway, the reviews were I used to have that same book. I mean, the thing that people agents don't understand now they go around griping about how hard this business is. They forget that. And I know you're a lot younger than me, I'm 53. But, you know, when I started for the first 10 years of my career, we had no internet. I mean, I got realtor.com in 1997. So that was nine years after I'd been licensed. So we would have to present offers face to face. Well, you know, when I was 25, and I don't say this to brag, I'm just trying to set some perspective on how easy it is. Now, we didn't have a Google back then I had the exact same binder as you did, I had the mylar folders. And I would get someone to write me a letter or a card. And I'd stick the car, you know, the greeting card or the letter in there, I go pick it up from them, and say, Can I stop by four o'clock on Tuesday and grab a reference letter from you. If you don't have a chance to do it, I'll wait while you do it. And I go pick it up, stick it in there. And I bring that over. That's your credit report. That is the that's the currency of your business is what other people think about you we didn't have there was no social proof, you would have to just get letters, or greeting cards talking about how amazing you are, and you had to get a ton of them. Now, you know, with all of the platforms, you can get reviews, I've just found that for real estate reviews, people aren't going to Yelp because they think about food. Although Yelp is trying to promote themselves as a general platform, it's still food. There was a time where I was on Angie's List, and I had 34 reviews or something like that. And I was getting two listings a month for a while. But that kind of burned out. Google seems to be the place to go to get reviews, but you need to back up and make sure that you're providing the kind of service that is going to make them want anyone other than a family member want to give you five star review. You got to you got to step all the way back and fix your business. Yep. And it doesn't take that much, you know. So you just have to answer your phone be available. Everyone says, oh, it's I can't answer my phone. I don't know who it is. Well, you know, for years we used to do that. The only reason you can't do that now is because if you look at the screen time on your phone, and I'm just as guilty. The reason we become inefficient is because we spend so much time watching crap online.Yep, everyone's on their phone nowadays. Walk me through your guyses process and how you're, you're getting these like at what point in the transaction so that people can start making it part of their systems like you this is a checklist item guys so like when you're at the final walk through, maybe you inserted at that time or at the closing, maybe you get your testimony deadtime. But I used to always have a certain time that I would ask for the testimony or get it so that it became habit. And if you don't get into the habit, you stop asking for it. And if you don't ask for it upfront, you're not going to get it later.If it's a buyer, when you give them the keys, say, by the way, would you do me? Can I get weird with you for a second? What? Hey, remember, before I mentioned that, I'm going to ask you for a view, at the initial consultation, I tell my buyers and sellers by the way, if you ever decide to hate me, then the quickest way to ruin my life and make me lose three nights sleep is give me a bad review.That's a great way to put it. So I said that say that one more time at like, cons that's just like a close to that's a really close. Yeah, walk me through thebeginning of the relationship on the listing appointment, I talked to them about how relationships are important. And I say, if you think I'm full of crap, Google me. And you'll see that everything we do revolves around reviews, and our review of our reviews are the byproducts of excellent relationships. So if you if I, if I dropped the ball, I'm telling you right now, the way you get me back, is by giving me a bad review. If you really want to ruin my day or my week, give me a one star review. You know, just go do that. And I can't do anything about it to remove it. So that's what keeps me on my toes for 34 years. That's why we do over a million dollars in GCI with a tiny little team. You know, that's how we have a, we have a recession proof business. Because we've created energy around our tiny little shitty brand in Northeast Ohio. And, you know, at least 150 to 200 people a year find us. So I tell them about I tell them at the beginning of the relationship, the way you're going to reward me is I'm going to ask you for a review at the end. So think about the service that we're providing. I'm confident that we're going to do a good job. But if at any point during the process, you feel like I'm not responsive, or you know, you I've ghosted you, whatever, it won't be on purpose, I just asked you to please tell me because I will correct it, we are completely focused on you having a good experience. And I don't want to guess what a good experience is for you. So I tell them about it at the beginning. And then at the end, I say, hey, remember I said I was gonna ask you for a review. Do you mind if we jump on Google right now and you just give me a quick review. And then if I've got a seller who's closing, then I just text I call them don't ever just text them. People want to feel important. Right? If you call them up, and I say, Hey, Mike, just want to let you know, the deed just recorded. And you say, Oh, that's great. Well, thanks, dude. I really hope that you had a good experience with me. We really tried hard. I hope you feel like I proved myself to you. Oh, yeah, you did. Awesome. Well, hey, do you I hate to be weird, but do you mind? I said, I know, I'm an older guy. But reviews are important. Do you mind if I text you a link and you give me your five star review on Google? They're like, No, go ahead. I'm like, Cool. And then I go into my my notes, my notes on my phone, and I just copy and paste that into a text. And I'll read you, I'll read you my read you what it is. Hang on, this will take just one second or youpull that up. And then like, if you guys are getting to get a video testimony, then you have to do it when you're in person. Because very same thing is like, Oh, if you get a video testimonial, do it at the closing table or at the final walkthrough. It's when they're all pumped and all jazz and it takes three seconds. He's already given the keys. Yeah,yeah, I get. I get a 32nd 45 second video and we use that for retargeting. So here's I've got two texts that I saved in my notes. The first one says, Would you mind this is after a phone call. So you have to set them up at the beginning of the relationship and let them and give them the power that they can that they get to grade you. It really makes a huge difference. Yes. Then at the end, you say you call them and ask them for don't cheat and just send them a text. If you're just texting clients to say, hey, we just closed if you're using that as your main form of communication. I'm here to tell you, you're wrong. It's a belly to belly business. And certain things should not be texted and emailed. You need to call them that's what they'll remember. So then I say would you know can I text you a link to review? Yeah, of course. And it says would you mind clicking this link to give me a good review on Google reviews are really important to me only takes a minute. Thanks again for letting me work for you then the link then if they say yes on the phone. Then I have another one. It says here it is only takes a few minutes to write something up. Thanks again really appreciate it. Reviews are very important in my world happy face, and then the link. That's it. And we've got 212 And then every once in a while have a count if you've got a team listening to this. I have contests if I want to get to a new like to get to 200 we had like 187 and I I'm one of our team meetings, I said, All right, we got to get to 13, we got to get 13 reviews in the next week, I'm gonna give 25 I'm gonna Venmo 25 bucks to the to each review you get for the next 13 till we get to 200. And so I made a fun little thing with it for my agents, my four agents, and they all went out and started busting it to get reviews.I like it, it seems simple, but most people won't do it. And the reason is, because most people aren't running a business, your salesperson, Jason Chuck, and you got to start thinking about these things in your business. Because your brand is going to be very important going forward, especially with this shift coming up, people are start looking at new things, the business is going to be as easy it was the last few years. And as we see the economy shift, as we see the recession coming into taking place, as of right now may 2022. How people are going to be a lot more. What's the word cautious of who they decide to hire, they're gonna look into it a little bit more, especially as the market shifts, it's not easy anymore. And when it does people second guessed to you. So the more content and more reviews you have the better for you. Quite frankly, I just saw stat today from the Tom Ferry conference. francesi posted it and he said 40% of the licensed agents in the United States didn't do one deal last year. Yeah. 40% How many agents are there? There's like 1.2 million or something like that. 1.5. What is it?In 2008. In Northeast Ohio, we had at the Akron area Board of Realtors, we had 2500 and something agents at the end of 2009, it dropped to 12 130. So here, what happens is if you look at the average income of a real estate agent, and they're getting a check every, say, three weeks, and then as this market, you know, it's harder to get offers accepted, you're trying five, six times just to get one commission check now. And you're buying leads. And then what happens is, the reason these agents get out is because their checks get too far apart. And then they have to get another job. So think about that. Now what can you do to secure your position in this industry, it's a recession proof industry, this ball of energy during the worst market we ever had. And my market was better in 2009. And California trust me, because we don't have the highs and lows. We lost 50% of the realtors. But we only lost 20% of the transactions. We went from about 5000 transactions to 4000. So we only so what happens is I went from selling 80 homes to 39 in one year. So even though I was like doing great, we I sold 39 homes in 2009. I went from making about I made about 200 grand a year throughout the 2000s. And then I made 87,000 gross and nine I thought my world was over we had two kids in private schools. Luckily cost of living here's low 2010 was the first year I ever netted over 300 grand my account I went in there when everyone was losing their jobs. He's like, do you know you netted 304,000 bucks. That's what you're paying taxes on? I'm like, Oh, no kidding. But it's because we we only lost 20% of the transactions, but half the realtors. So the agents that are listening to this that are serious about their business, now is the time for you to be strengthening, developing and nurturing relationships.Yep. And make sure you get your damn reviews on every single deal. You close.Yeah, because people like you just said when the market tightens, they're not just calling their wife's friend. You know, I found in 2009 If they were moving out of state or chasing a job or whatever, they were calling them the well known agents, we had the top 10 agents in our county, you know, 12 130 that year, we went from? Well, the top 10 agents sold 14% of the real estate. So the good news is when these markets correct, the top agents get pushed to the top. The bottom agents stay where they are because they don't rely on you know, they usually have a part time job or a spouse, the middle of the agents get just whacked. So now's the time for you to be thinking about what you know, getting reviews, staying in touch with your people posting videos every day so that people don't forget about you. This is the time to do it to to shore up your business before we have this big change. In my opinion.I agree. I'm never gonna say it all the time. I don't spike the football on this closing, I spoke my football and the third closing from the original closing rather than the referral and repeat client. So you only get that through building off the deals you're doing today because today's transactions are just future stepping stones to tomorrow's. So you got to play a long game in this business. Appreciate it dude, this is awesome. Why don't you tell our listeners about where they can find you? Will and I actually have a new tagline for you if you got a second. I was just looking because every penny counts.You're so good. Here's your What did you bump your head? What did you did?Because every penny counts. I just thought of it.No one's ever thought of that beforewe fight for every penny, you do that you were penny loafers. Ah some brandings some branding content here foryou both C and N E Y. Yes.Well, why don't you tell everyone where they can find you website? You guys right as market. Look them up toany great it's p e n n e y real estate.com. You can look me up on Facebook at well Penny p e n n EY or you can you can find me on Instagram at Penny p e n n EY underscore group exp. That's our Instagram thing. Don't be prepared to be unimpressed. I mean, I do. I do what I can most of my business. I stay in my lane. I go, I get my past clients to refer me and I get the reviews to leverage the past clients to get the arm's length people that don't know me. So that's Does that make sense? Yep. So that's what that's what we do. And hopefully it'll be enough.Appreciate it man, thank you for coming back on and sharing this stuff. Wills made his whole career he said 35 years not chasing leads but nurturing and developing and maintaining relationships. And everybody else I know successful in this business has is also successful in relationship development. So what we're saying here guys is like there's not a secret to the sauce, just follow the system, build more relationships, and you'll start selling more houses. So appreciate you guys listen to another episode of the real estate marketing dude podcast. If you have any questions, please feel free to visit our website, especially if you want to get on video, we help you script that and distribute all of your video content so that you could get put on the map and nurture those relationships. So people stop forgetting that you're in real estate. So very simple concept, create a lot of content. But if we're on the right people, then people will come to you because a percentage of them are moving each and every year. It's that simple. So you guys know where to find us if you wanna do that real estate marketing do.com And subscribe to our channel and leave us some reviews. So he goes on next week's episode and thanks for listening to another one. Thank you for watching another episode of the real estate marketing dude podcast. If you need help with video or finding out what your brand is, visit our website at WWW dot real estate marketing dude.com We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with a dude and get you rolling in your local marketplace. Thanks for watching another episode of the podcast. We'll see you next time.Transcribed by https://otter.ai

Our anchors begin today's show breaking down the NFL's ratings, broadcast rights and more with our Julia Boorstin, live from SoFi Stadium in California, home to this weekend's Super Bowl. Then, Affirm Founder and CEO Max Levchin discusses the buy-now-pay-later platform's latest results in a first-on interview, and NFL Chief Media and Business Officer Brian Rolapp breaks down the league's media deals and the evolution of sports betting ahead of the big game. Next, Zillow Co-Founder and CEO Rich Barton joins for an exclusive conversation after the real estate firm's Q4 earnings beat the Street, sending shares soaring. Later, CNBC's Jane Wells takes a closer look at athletes cashing in on crypto and the metaverse, with interviews from Arizona Cardinals wide receiver DeAndre Hopkins, Green Bay Packers running back Aaron Jones and Hall of Fame quarterback Joe Montana.

Episode # 52…Rich Barton, Richfield High School, Richfield, UtahToday we have the wonderful opportunity to sit down for a second time with Rich Barton. Rich is a CMAA from Richfield High School in Richfield UT who is leading the way as athletic leaders in that state work toward the passage of a senate bill that would reward athletic administrators who achieve national certifications. This is quite frankly a bill that could affect us all and you will want to hear what Rich has to say about the legislation, its purpose, and ultimately it's impact. Let settle in and learn from Mr. Rich Barton.0:00- Introduction2:07- Utah Senate Bill 67-; Compensation for Certified Athletic Directors9:48- Laboring Through ‘2nd Half of the Day' for an Athletic Administrator15:04- Precedent for Compensating Certified Athletic Directors23:21- Leadership Advantages of Being an Involved Athletic Administrator27:57-Time Management for the AD32:34- Why Hesitate Getting National AD Certification?Social Media Connections: Twitter:   @RichfieldRichAbout Hangin With The AD Podcast….Hangin with the AD is an interview style podcast where Don Baker, Cobb County School District Director of Athletics, partners with Josh Mathews, Pope High School (GA) Athletic Director, to discuss hot topics and lessons learned with leaders in the world of athletics.  These leaders include high school athletic directors at the district and local school levels; college athletic administrators; leaders in spaces that connect to athletics such as nutrition, wellness, recruiting, student-athlete recognition; current and former athletes; and others, who can help athletic administrators develop themselves and their programs for a better daily experience for their athletic communities.          We hope you enjoy the time we spend with these special guests.  Please leave us a review or rating to help us know how you were benefited from this podcast or how we can improve it.  Thank you for listening.  And until next time, thank you for spending your time, Hangin with the AD.           Don Baker, CMAA.... Director of Athletics for the Cobb County School District in Georgia. @CCSD_AD (twitter & instagram) Josh Mathews, CMAA...Athletics Director at Pope High School in Marietta, GA (East Cobb) @jwmathews14 (twitter & instagram)  

What were the most important events in real estate in 2021? And how might those events change the industry moving into 2022? On this episode of Industry Relations, Rob and Greg sit down to reflect on what they see as the most significant headlines of 2021, discussing the real reason behind Zillow's abrupt exit from the iBuyer market and what Zillow 3.0 might look like. Rob and Greg explore the significance of NAR's apology for its racist past and policy changes around hate speech, describing how the ethics complaint against Pastor Brandon Huber reflects a growing division in the industry. Listen in for insight on the impact of MLSs becoming technology companies and find out why it's time for you to start learning about the blockchain and what this trend toward decentralization means for the future of real estate. What‘s Discussed:  Rob & Greg's take on the most important events in real estate in 2021 The DOJ's withdrawal from its settlement with NAR and Biden's subsequent Executive Order on competition How Zillow's acquisition of ShowingTime changed the way vendors, MLSs and associations do business The real reason behind Zillow's exit from the iBuyer market and what Zillow 3.0 might look like Rob's prediction that Rich Barton will retire again in 2022 and why Greg thinks he's wrong The significance of NAR's policy changes re: the transparency of listing data Why NAR's apology for its racist past matters and how it might serve as the first step toward reparations The ethics complaint against Pastor Brandon Huber and how it reflects the growing division in organized real estate How Greg thinks about MLSs becoming technology companies and what it means for vendors Rob's insight on how blockchain technology might impact real estate Connect with Rob & Greg: Rob's Website Greg's Website Resources: Biden's Executive Order on Promoting Competition in the American Economy The DOJ's Antitrust Case Against NAR The DOJ's Withdrawal from Its Settlement with NAR Business Insider Article on Zillow's Project Ketchup Rob's Post on Zillow's Project Ketchup Ben Thompson on Zillow's Decision to Exit the iBuyer Market Rich Barton on the Stratechery Podcast NAR Policy Changes on Transparency of Listing Data Bloomberg Article on the NAR Formal Apology for Past Racism Changes to the NAR Speech Code Pastor Brandon Huber's Lawsuit Against the Missoula Organization of REALTORS The Bitcoin Standard: The Decentralized Alternative to Central Banking by Saifedean Ammous The Bitcoin Standard Podcast Saifedean Ammous on YouTube Chris Dixon and Naval Ravikant on The Tim Ferriss Show   Our Sponsors:   Cloud Agent Suite Notorious VIP

Zillow has officially announced the end of it's iBuying program, Zillow Offers. The announcement comes just a few weeks after the company said it wouldn't be buying any more homes this year. And then there were reports that Zillow would be offloading thousands of homes at a discount.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.The iBuying frenzy has been growing among several competitors including Zillow, Redfin, Opendoor, Offerpad and others. There was a pause in those programs during the pandemic, but the iBuyers were back in full swing this year. And Zillow was one of the more exuberant ones.Home Price ForecastingBut Zillow apparently miscalculated the value of the homes it was buying. The company's financial results show a $304 million write-down for the homes that were purchased for more than it can sell them for. It expects to lose another $240 to $265 million for homes that it is contracted to purchase in the next quarter.CEO Rich Barton told investors: “We've determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility.” (1)Zillow now expects to wind the home-flipping arm of its business down over several months. That includes a 25% reduction in its workforce, which will impact about 2,000 employees.Zillow's iBuying BingeThe company has been on a buying binge. According to the Wall Street Journal, Zillow bought 3,800 homes in the second quarter, and ended the third quarter with an inventory of almost 10,000 homes and another 8,000 homes under contract to buy. It only sold about 3,000 homes, and many were sold at a loss. The Journal says that Zillow also expects to lose between 5% and 7% on the remaining homes. (2)An analyst for KeyBanc looked at the financials for 650 homes in Zillow's inventory. That's about one-fifth of the homes the company owns. As reported by MarketWatch, he found that Zillow was selling two-thirds of them at a discount of 4.5%. Most of the discounted homes that he found are in San Diego; Charlotte, North Carolina; and Las Vegas. (3)Offloading Homes to InvestorsAccording to Bloomberg, Zillow is hoping to sell about 7,000 homes to institutional investors for close to $2.8 billion. The report says they will likely be sold to various buyers, and not as a single sale. (4)Barton founded the company 16 years ago. The iBuying arm of the business is relatively new. Barton wanted to hit 5,000 home flips a month and had predicted, last year, that Zillow Offers could generate $20 billion a year. What Went Wrong?Zillow has been an aggressive player in the iBuying market, offering more than competitors. That won Zillow some homes, but in markets that may have cooled off slightly, the anticipated price growth didn't materialize. It sounds a little like the scenario in 2005 when people thought home prices only go up. Right now, they are still going up, but Zillow apparently miscalculated by how much. The New York Times also reports that the company underestimated the risk of holding homes for too long between a purchase and a sale. (5) Zillow had previously said that labor and material shortages were impacting the business. The company couldn't turn them around fast enough. And that's a huge departure from a relatively risk free business model that Zillow was founded on.Barton and Zillow's CFO, Allen Parker, said in a shareholder letter: “Our aim was to become a market maker, not a market risk taker.” On a more positive note, there will be thousands of homes hitting the market at a discount from the previous sale price, and possibly of interest to investors both big and small.You'll find links to our sources in the show notes at newsforinvestors.com. You can also find out more about real estate investing at our website by joining RealWealth for free. As a member, you have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources. That includes experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more. And please remember to hit the subscribe button, and leave a review!Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.prnewswire.com/news-releases/zillow-group-reports-third-quarter-2021-financial-results--shares-plan-to-wind-down-zillow-offers-operations-301414460.html2 -https://www.wsj.com/articles/zillow-quits-home-flipping-business-cites-inability-to-forecast-prices-116358835003 -https://www.marketwatch.com/story/zillow-stock-dives-after-analyst-highlights-two-thirds-of-homes-bought-are-underwater-116357852934 -https://www.ocregister.com/2021/11/01/zillow-to-sell-7000-homes-for-2-8-billion-after-flipping-flop/5 -https://www.nytimes.com/2021/11/02/business/zillow-q3-earnings-home-flipping-ibuying.html

Today's F-Bomb discusses the following: -Inflation Soaring -One decision can answer many others -Rich Barton founded two monster companies -Matthew 6:24 -Keep your investing simple -Farewell Leo Messi -The enormity of the nation's largest stocks

In the early 90s, Rich Barton arrived to work at Microsoft just as the world wide web was taking off. He wound up pitching Bill Gates on an idea that was transformative at the time: to let everyday travelers book their own flights and hotels by giving them online access to previously hidden reservation systems. Expedia launched from inside Microsoft but was so successful at transforming the travel industry that it was spun out into a public company with Rich as CEO. Then in 2005, Rich moved on to a new idea with some Expedia colleagues, co-founding Zillow as a way to "turn on all the lights" in another sprawling industry: real estate. When the site launched in 2006, so many people tried to look up their home-value "Zestimates" that the site crashed within hours. By 2020, pandemic-era interest in housing saw Zillow accessed almost 10 billion times.

MFM #157 Rewarding hustle: MFM is hiring two kids to do video production because they took the job without permission. They heard Sam complain about needing a recording studio and offered to do the work https://twitter.com/DylanJardon/status/1366274333858017282?s=20.  This is how you get the job you want. Don’t send a resume. Do the work instead. Don’t ask for permission. Food topics The food companies of Instagram: Companies mycookiedealer.com, 1-900-Ice-Cream, and Allie’s Banana Bread are crushing it on IG with food drops that sell out in seconds. Why it’s big: These work because it’s at the intersection of many trends: cloud kitchens (no need for expensive restaurant infrastructure), DTC (no need to get costly distribution deals and shelf space) and have virality baked into them. My Cookie Dealer is estimated to be doing $200k per weekly drop. This is a potential $10m business today. Formula: Sam breaks down how these companies are going viral, and how you can copy. Make a side ingredient the main thing (cheese, cookie dough) Make it in an unusual color (rainbow bagel, rainbow kettle cork, green ketchup, cloud bread) Make it huge (huge sundae, massive pizza cookie, sushi-rito, massive KitKat) Frankenfood: combine two different foods (cronut, pancake cereal, donut cereal, cream cheese, bell pepper, desert burger, ramen burger, spaghetti donuts, fairy bread) Food allergy or remove stuff from it (vega ice cream, Banza) Make junk food or simple food ultra-fancy (tater tots, mozzarella sticks) https://www.youtube.com/watch?v=2IFYt20QON8  Tiller money Spreadsheet plugins: The guys have talked Chrome plugins and browser extensions in the past, but an overlooked niche is spreadsheet plugins. Plugins are great businesses because they are sticky and capitalize on an existing platform and user base. They can be light, simple tools that can gain huge adoption quickly.  Tiller Money (https://www.tillerhq.com/): Personal finance nerd Sam loves the simplicity of this plugin. Most people already manage their money on a spreadsheet, Tiller Money just makes it easier to do so. Supermetrics (https://supermetrics.com/): Marketing data plugin Sam uses. He predicts the business does 8-figures in revenue. Open salaries Open salaries: Should companies publish employee salaries? Open salary data is becoming a legal requirement, starting with

Big Rich shares his experiences and best practices!

In this episode we start a four 4 part series entitled "The Educational Athletics Journey".  We start the journey hearing from three veteran and outstanding athletic administrators.  We are thrilled to hear and learn from Rich Barton (@richfieldrich), Becky Moran (@admorancmaa) and Mike Ellson (@mike_ellson).  We look forward to sharing the rest of this series.  Part 1 - Athletic Administrators; Part 2 - Coaches; Part 3 - Parents; Part 4 - Student Athletes.   BTB is proud to have HomeTown Ticketing (@hometowntix) as a sponsor of the  podcast. Check out their website at www.hometownticketing.com. Follow them on their social media sites: Twitter: @hometowntix... Facebook: @hometownticketing...Instagram: hometownticketing BTB is also happy to have Gipper (@gogipper) as a sponsor of our podcast. Visit them on Twitter or at www.gogipper.com for a great custom graphics solution. BTB also thanks Varsity Bound (@varsityboundhq) for their support of Beyond the Bench, as well as, AD's and Athletic Departments across the state of Iowa. --- Send in a voice message: https://anchor.fm/todd-gordon4/message Support this podcast: https://anchor.fm/todd-gordon4/support

Leading Steep: Richard Bangs In this episode, Barry sits down with author, TV host, and world traveler Richard Bangs. Once referred to as “Indiana Jones with a conscience” by Expedia.com founder Rich Barton, Richard fashioned a multifaceted, adventure-filled career spanning over 50 years promoting travel that positively impacts the world. Listen in as Richard shares his journey from local river guide to internationally-renowned globe-trotting explorer. He reflects on his interpretation of guide culture, which to him is a combination of openness and curiosity both to the world around you and toward your guests, and the collaboration between each and every member of the group you are traveling with. Richard also shares his thoughts on risk, and how one tragic accident early in his career forced him to reevaluate everything he was taught as a guide. Finally, Richard touches on his many TV projects and business ventures, both past and present. Here's a glimpse of what you'll learn: ●      [3:26] Richard's early days as a river guide ●      [6:29] Traveling internationally ●      [10:47] The most memorable of Richard's 35 first raft descents ●      [14:20] Comparing outdoor adventures to the business world ●      [15:55] What guide ethos means to Richard ●      [20:55] The unique bond that every guide forms with their guests ●      [25:02] Traits that made certain guides stand out to Richard as great leaders ●      [27:37] Richard's most challenging situations throughout his countless travels ●      [35:09] Working with various guides of various disciplines in many different countries ●      [36:46] Richard recalls his time rafting the Zambezi ●      [41:31] Of the 19 books Richard has written, which one would he recommend first? ●      [44:14] Richard's involvement with MT Sobek and his various TV and business ventures Key Quotes by Richard:●      “The most apt comparison between [the adventure world and the business world] is being able to embrace the unknown, and actually finding an element of excitement and joy in chaos. [...] If you find meaning, purpose, and clarity in chaos, then you likely can find success.”●      “I think that there are many important elements of ethos when it comes to the guide culture and what makes a successful guide. But there are two that come to mind. One is an innate curiosity. [...] The second one is teamwork.”●      “If you can learn to face adversity in some manner, particularly in the wilderness, it will be something that becomes an ingrained lifelong process for dealing with issues through the rest of your life outside the wilderness.” Resources Mentioned:●      The Lost River by Richard Bangs●      MT Sobek●      Steller app#guide #guiding #whitewater #river #rafting #climbing #mountaineering #guidelife #tripleadertuesday #sobek #mountaintravel

My guest today is Claire Cormier Thielke, Managing Director of Asia Pacific for Hines, the largest private real estate investment, development and management firm in the world with over $144 billion in assets under management. Claire responsible for acquisitions, development, and new business generation for Hines APAC and was also recently appointed to the board of Zillow. I was first introduced to Claire two years ago and have wanted to have her on the podcast ever since.  Her personal story is fascinating - Claire finished Stanford undergrad in 2.5 years and now teaches there - on the intersection of tech and real assets, she was a professional track and field athlete - competing for USA Track and Field, and she's run a marathon on Everest, which we discuss. Aside from her personal story and some of her amazing achievements, in the episode, we dive into the world of real estate investing including how to use pattern recognition to unlock real alpha in real estate, the ingredients that make a city special, and the surprising ROI of public art.   For the full show notes, transcript, and links to mentioned content check out https://www.joincolossus.com/episodes/72331821/cormier-the-future-of-cities-and-real-estate   This episode of Invest Like the Best is sponsored by Canalyst. Canalyst is the leading destination for public company data and analysis.  If you’re a professional equity investor and haven’t talked to Canalyst recently, you should give them a shout. Learn more and try Canalyst for yourself at canalyst.com/Patrick.     Invest like the Best is a property of Colossus Inc. For more episodes of Invest Like the Best go to https://www.joincolossus.com/episodes.  Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week.  Sign up here - https://www.joincolossus.com/newsletter.   Follow Patrick on Twitter at @patrick_oshag Follow Colossus on Twitter at @JoinColossus   Show Notes [00:03:01] – [First question] – Overview of her career and her passion for real estate [00:05:32] – The impact of Gerry Hines on her life [00:07:30] – Her theory of and what she thinks about cities [00:09:47] – Cities rhyming with each other [00:12:03] – How the highway act led to growth in cities [00:13:31] – How cities compare around the world [00:15:42] – Airplanes as time machines [00:18:42] – Overview of a building project and how it differs from investing in equities [00:23:15] – Rebuilding a city from scratch [00:25:45] – Major real estate changes we’ll be seeing in the US [00:28:30] – Real estate trends that fascinate her in Asia [00:30:10] – Real estate plugging into other industries [00:32:11] – Trends in Asia that could be ported to the US [00:34:08] – Where to see the best of cities today (post-pandemic) [00:37:28] – The ROI on public art [00:38:33] – Her time in track and field [00:41:59] – The concept of tomorrow time [00:42:49] – Cultivated other part of her training [00:45:07] – Her marathon on Mount Everest [00:46:26] – Replicating the extreme performance piece of herself in a professional setting [00:48:18] – Lessons from being a professor [00:49:53] – Joining Zillow’s board, what she wants to bring and get [00:52:17] – Her childhood and her parents, how that influenced her [00:56:26] – How one person can be actionable             [00:58:30] – Brad Gerstner and Rich Barton podcast episode [01:00:32] – Kindest thing anyone has done for her

In today's episode of Money Holic, we will talk about Zillow Logo. Some people have the Midas touch, touching everything and turning it into gold, and Rich Barton can count himself lucky to be among them. Stay Tune on Money Holic. ------- Support us with a cup of coffee on: https://anchor.fm/moneyholic/support --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

My guests today are Rich Barton and Brad Gerstner. Brad is the founder of Altimeter Capital and is one of my favorite active investors. Brad and Altimeter were one of the largest investors in Snowflake in its earlier days and continue to invest in iconic modern businesses with an extreme focus. Rich has one of the most impressive resumes in the business world. He founded Expedia, Glassdoor, and Zillow; He’s a longtime Netflix board member, since before they went public; he’s a venture partner at Benchmark Capital; and he give back through the Barton family foundation. Our conversation covers Rich’s “power to the people,” strategy, Brad and Rich’s perspectives on taking companies public through SPACs vs. IPOs, and their perspectives on how to build a great company. This one is so fun, we even discuss how to come up with company names, talk about the importance Wizard of Oz, and explore the importance of big hairy audacious goals. I really enjoyed this conversation with two of the smartest people I know, and I hope you will too.   This episode is brought to you by Koyfin, one of the fastest growing fintech startups. I discovered Koyfin earlier this year when I asked twitter for the best Bloomberg alternative, and the overwhelming winner was an intriguing new product called Koyfin.  Koyfin has tons of high-quality data, powerful functionality, and a nice clean interface. If you’re an individual investor, research analyst, portfolio manager, or financial advisor, you should definitely check them out. Sign up for free at koyfin.com   This episode of Invest Like The Best is also sponsored by Assure. Assure is changing the way investors manage private transactions. With Assure, investors can eliminate nearly all the admin cost of private investment. On top of that, they handle all the backend, legal, taxes, accounting, and compliance. All of it, with a straightforward one-time fee. Learn more and try Assure for yourself at https://www.assure.co/patrick.   For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club and new email newsletter called “Inside the Episode” at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag   Show Notes (2:59) – (First question) – How Brad and Rich met (5:57) – The instant click between them (7:21) – The power to the people perspective             (7:29) – Brad Gerstner Podcast Episode (10:21) – Delivering information to consumers (11:31) – The investing perception of data-delivery businesses (13:54) – How they use SPACs (17:38) – How entrepreneurs view SPACs (20:17) – Lessons from their involvement in Altimeter Growth Corp (23:57) – Defining value add investor in the public and private markets (26:36) – The Wizard of OZ and Pygmalions (30:41) – Leadership mold at businesses and big audacious goals             (30:44) – No Rules Rules: Netflix and the Culture of Reinvention (36:05) – Frank Slootman’s leadership style             (36:12) – Amp It Up             (46:13) – TAPE SUCKS: Inside Data Domain, A Silicon Valley Growth Story (38:11) – Courage in leadership (41:33) – Physical businesses vs digital only businesses (43:34) – Getting companies fit (45:39) – Lessons around talent density (48:28) – State of the world and markets today since the inception of the pandemic (53:46) – Making up words for companies and fertile ground (56:45) – Go to market model vs business model (58:50) – Early days of product market sales (1:03:03) – Advice to early investors and entrepreneurs for the future of their careers (1:08:10) – The board challenge (1:12:06) – What question are they working hard to answer right now (1:16:09) – Kindest thing anyone has done for Rich   Learn More For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club and new email newsletter called “Inside the Episode” at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag  

One of the BIG names in the NIAAA, Rich Barton shares his career and best practices - along with some observations from being the President of the NIAAA - in this edition of the Education AD! --- Send in a voice message: https://anchor.fm/jake-von-scherrer/message

Listen to Brad Inman and Rich Barton discuss the current landscape of real estate at the first annual Inman Connect Now event. Register for Inman Connect Now here: https://www.inman.com/event/connect-now/ (https://www.inman.com/event/connect-now/)

This is an attempt at understanding R0 (reproductive number) as more than a numbing number. View these notes as less definitive. In his (2014) paper Risking It All: Why are public health authorities not concerned about Ebola in the US?, Yaneer Bar-Yam writes about why R0 isn't an even distribution.One April report noted the coronavirus reproductive number was 5.7 but offered a range of 3.8-8.9. In January the estimate was 2.6. There's many reasons but one is that the reproductive number varies by the individual in the network.Humans form the same (power-law graphed) networks over and over again. In research about Wikipedia edits the graphs of posts per user was nearly identical across languages. It holds across time too, we can imagine that church members knew their parson but not every other member. This network holds on TV shows too.Image from Funkhauser.These networks are so common, they may be part of our evolution, like ten fingers. Nicholas Christakis said, “Maybe natural selection had something to do with the topology of human networks.”Christakis looks at networks to seed interventions like a farmer who avoids the arid or soaked parts of a his field. In lab research, Christakis found that when one person is nice to another person (via monetary rewards) then that person is nicer to the next. Courtesy is contagious.In other studies, Christakis changed the visibility of charity (or selfishness) and the  contagion changed too. Visibility of inequality mattered a lot, unseen inequality mattered very little. That's kinda interesting.Christakis has found three features which influence how things spread through networks.Connections, more lines between hubsContagions, faster spread between hubsPositions, different originations hubsIf Larry David gets an idea for his television show and he wants Julia Louis-Dreyfus to guest star he can ask her (#1), but if it's someone he doesn't know he'll have 'his people call your people'. He could pitch Julia via text (#2) or write her a letter. If it's Jeff Garlin that has the idea and not Larry David, (#3) then the idea has to wind through Larry to get onto the show.A real example of virality is the Zillow Zestimate. Co-founder Rich Barton wanted to advertise. That had worked for Barton at Expedia. But Bill Gurley said, "If you're buying ads to sells ads, then you're arbitraging traffic and that dog don't hunt very long." Barton wanted to focus on spreading the message (#3) far and wide. What worked better was creating something people would share (#2) among themselves.Bar-Yam warns about an average R0 when he writes about Ebola:"However, in a complex interdependent society it is possible for the actual number due to a single individual to dramatically differ from the average number, with severe consequences for the ability to contain an outbreak when it is just beginning."Ebola needs to be a disease of more concern, he wrote in 2014, because the epidemiological models used the connections, contagions, and positions of Africa which is a different network structure. "One person is not likely to be in close contact with much more than about 10 or 20 family members." That is, the rural African figures for 1, 2, and 3 are quite different from the urban African figures. "In urban areas in Africa and in the US, the nature of the contact network is different."Ebola is a hot virus and should be treated with extreme caution. Richard Preston's book, The Hot Zone is about the mid-90s almost crisis when the Ebola virus was spreading through the air in a monkey research facility just outside of Washington D.C.(Here's Preston in 2019)In the book Preston writes about the history of research. Recalling one trip in the mid-80s:"Occasionally they (researchers) came to villages, and at each village they encountered a roadblock of fallen trees. Having had centuries of experience with the smallpox virus, the village elders had instituted their own methods for controlling the virus, according to their received wisdom, which was to cut their villages off from the world, to protect their people from a raging plague. It was reverse quarantine, an ancient practice in Africa, where a village bars itself from strangers during a time of disease, and drives away outsiders who appear."Some strands of Ebola pass through he air (#2). Some do not. African villages follow the precautionary principle.Thanks to Tim H and Tim B for the suggestions and trailheads for this post. For thinking about position (#3) check out the Friendship Paradox. Get full access to POV40IQ at pov40iq.substack.com/subscribe

Welcome to Season 2 of Scaling Up! My guest on this episode is Spencer Rascoff. Spencer looms as a large figure in the US tech scene – twice he has co-founded billion dollar businesses. His first, the travel website HotWire was sold to Expedia, and it was there, he met Rich Barton – the Expedia and Glassdoor founder. Together, with several others, they then set off and co-founded Zillow. Zillow is now all things real estate in the US – for anyone looking to buy, rent, value a house, or obtain a mortgage, you have significant interaction with Zillow. It is now a US$2.7 b revenue, US$11b market capitalisation business (at the time of recording). Spencer was CEO for 9 years, and is now on the board. I often find guests who are no longer in the day to day grind makes for a great interviewees, as they have had time to reflect without bias. There was a temptation to go wide in our conversation, but I felt it could have spread Spencer’s wisdom too thinly. Instead I decided to really focus in on a topic that I know is close to his heart as well as mine – the importance and power of people and culture when scaling businesses. Spencer is a culture evangelist – he has seen first hand how and why culture is a leading indicator of business performance. Importantly to note, this was not always his belief and it was great to hear how his views have evolved. I also loved his views on managing cultural merges – Zillow did 16 acquisitions in his time - as well as why employees who he describes as ‘culture carriers’ can adapt to any job inside an organisation. If you love what you hear – Spencer hosts his own podcasts, among them Office Hours is in my opinion just a mandatory listen. Plenty of people have got in contact with regards to previous episodes, and the TDM team loves getting feedback. It makes this project worthwhile You can always find me on twitter - @eddiecowan, and TDM is constantly keeping the world up to date with great insights and views as well - @tdm_growth --- Send in a voice message: https://anchor.fm/tdm-growth-partners/message

This week on The Real Word, Byron and Nicole discuss Rich Barton's dream, an influx of baby boomers selling homes, and a new Marketeer.  Racket 1: Rich Barton discussed Zillow's vision of creating a home trade-in experience. Read more here: bit.ly/hometradeinzillow Racket 2: With baby boomers expected to sell homes in the coming years, are millennials prepared to buy? bit.ly/babyboomerssellhomes Marketeer: Byron and Nicole announce the winner of last week's vote, and introduce a new Marketeer, Ben Nemec. Watch his videos: bit.ly/rwmarketeerbn Last week's Marketeer videos: Old Town Realtor Rap: bit.ly/realtorrap Chi Actually: bit.ly/chiactually Who else deserves to be a Marketeer? Let us know! Check out Suave's work! bit.ly/suave_ski Connect with Byron + Nicole on Instagram: 
instagram.com/byronlazine/ instagram.com/nicolewhiterealtor/ Watch The Rackets on Instagram: instagram.com/therackets

This week on The Real Word, Byron and Nicole discuss what went on at Zillow Unlock and Rich Barton's explanation of what Zillow Offers is providing clients.  Subscribe to our channel: http://bit.ly/realwordsubscribe Racket 1: Byron shares his three main takeaways from Zillow Unlock in Las Vegas. Read more about what Zillow CMO, Aimee Johnson, said at the event: bit.ly/zillowcmo Racket 2: Rich Barton explained that Zillow Offers is a tool to create a better experience for clients. Read more here: bit.ly/ceonotfilipping Connect with Byron + Nicole on Instagram:
 instagram.com/byronlazine/ instagram.com/nicolewhiterealtor/ Watch The Rackets on Instagram: instagram.com/therackets

Nick recaps his conversation with Rich Barton and explains why the Zillow CEO is embracing ecommerce despite the heavy investments. He also discusses whether Microsoft's commitment to the surface has paid off. And why Apple's reliance on China may heavily influence its reaction to the protests in Hong Kong.

Rob and Greg have often said that Redfin is the most important tech-centric brokerage that no one is talking about. Well, that is about to change with the company’s unveiling of Redfin Direct, a service allowing consumers to buy properties without representation. What’s behind Glenn Kelman’s move to give customers another ‘layer of choice’? And how might the real estate industry respond? Today, Rob and Greg are discussing the big players who spoke at the T3 Summit, from Rich Barton to Gary Keller to John Peyton. They describe the pervasive nature of brokerages talking strategically about competing with iBuyers and tech as well as the buzz around Art Carter’s call for a new type of organizational structure around the MLS.   Greg speaks to the way ‘GFK’ won the room at T3 with his humor and authenticity, and Rob asks about the impetus behind Redfin Direct and how the industry might respond. Listen in for insight around how the program puts Redfin on the radar in a way it hasn’t been before and learn how Redfin Direct might work in conjunction with Redfin Now and the brokerage’s title and mortgage programs. What’s Discussed:  Greg’s insight on the big players who spoke at the T3 Summit Art Carter’s call for a new type of MLS organizational structure The pervasive nature of brokerages addressing iBuyers + tech How Glenn Kelman ‘won the room’ with his authenticity at T3 The stark contrast between Redfin and Compass’ mission Greg’s take on Redfin Direct + the potential industry response The impetus behind Redfin Direct and how it was announced How Redfin Direct supports its title + mortgage programs How Redfin Direct puts the company on the industry’s radar Connect with Rob and Greg: Rob’s Website Greg’s Website Email gregrobertson@gmail.com   Resources:   Mike Simonsen, Rob Hahn & Gahlord Dewald Talk Millennials The T3 Summit Redfin’s Q1 Earnings Release Glenn Kelman on Listing Bits EP045 Bill Wendel on Twitter ‘Redfin Direct Offers’ on Bubble Info Greg’s Blog on Redfin Direct Andrea Riquier’s Interview with Rob on MarketWatch   Our Sponsors: Cloud MLX The Red Dot  

In the inaugural episode of Beyond the Blue Badge, Rich Kaplan sat down for a conversation with Rich Barton, the Microsoft alumnus who has hit homeruns with Expedia, Zillow and Glassdoor. The duo reminisced about how Expedia started inside the walls of Microsoft, how “power to the people” philosophy helped disrupt and transform three different industries, and how his own alumni network has been with him every step of the way.

Diva Tech Talk interviewed Rebekah Bastian, Vice President of Community and Culture at Zillow Group, leading efforts focused on equity and belonging, social impact and cultural engagement. Rebekah was one of Zillow Group's first employees, moving from Microsoft in 2005. She has spent over 13 years leading product development and evolving into her current role. Rebekah originally started as a music major, but shifted, reassessed, and went back to school taking courses at her local community college. This led to math and physics. Her epiphany was that “[she] can do well at anything [she] works hard at.” Rebekah has been proving that lesson to herself ever since. She encourages others to “work hard at things you enjoy, are passionate about, and things you are good at.” She transferred to the University of Washington where she completed her undergraduate degree in mechanical engineering and continued on to UC Berkley, for a masters in that field. She applied to Microsoft  and her work included development of the pervasive Outlook email platform.   Subsequently she found Zillow Group, which was in full start-up mode and working under the radar. She took a flyer because she had faith in the founders, Rich Barton and Lloyd Frink, from their success with Expedia.  Ultimately, Rebekah loved the mission of Zillow Group, the ability to start something from scratch, and the chance to get experience with many different roles. She began working on the first version of the Zillow website, which has since become the largest real estate marketplace in the U.S. Rebekah worked on building product until about 8 years ago, when she was promoted into people management. As she progressed, leaders under her grew.  She was able to launch a side project, paving the way for her current role. Zillow Group’s diversity program began by reviewing how to build diverse points of view and people’s experiences into the organization, while shaping culture more intentionally. Rebekah also starting thinking about how she could use the Zillow platform to solve social issues like access for underserved populations to fair, affordable housing. This community work is her real passion.  Rebekah believes in setting employees up for success by removing barriers while affording autonomy. She benefited from this philosophy personally with her own side projects at Zillow Group. Based on the introduction of the Apple iPhone, she assisted on a project that led to the mobile Zillow application. When it launched, it got attention from Apple and gained fast popularity. Zillow Group created the formal mobile team and she became its first mobile product manager. This opened more doors for her career. In her Community and Culture Vice President role, Rebekah organizes and leads the Zillow Group team focused on equity and belonging, cultural engagement, housing stability, and social impact. She believes “power comes from combining these components together” into one unit. That team creates a space where everyone can bring their best selves to thrive at work. This includes  hiring diverse employees, and ensuring that after onboarding, they possess a strong sense of community. There are also affinity equity networks, and a team of “Equity and Belonging” ambassadors. The ambassadors receive tools, resources, and through those, offer support for “every employee in the community to apply an equity lens to their line of work.” Zillow Group is also encouraging internal mobility within the company, bringing everyone to a level playing field for success despite any past inequities in backgrounds. Rebekah believes no organization has proposed and implemented the perfect formula for leadership in diversity, community, inclusion, especially in corporate tech. Rebekah professes that she “love[s] problems that need to be solved that haven’t been totally figured out yet because that is what we do at Zillow Group, --- innovate! We need to be bringing everyone along.” More importantly, “everyone is on the equity and belonging team. It can’t be just one team of a few people doing this work for the company. We have to create systemic change.” Active prioritizing is key when there are so many ideas and directions for a team like this. Rebekah’s product manager experience/role comes into play as she handles the sheer backlog of potential projects that fall under this mission. The team examines metrics on where they are and where they are trying to go to select the most impactful projects aligned with overall strategy. Reviewing employee engagement can help, so she gets that data through various surveys. “In term of deciding the exact priority, you want to have a big vision of where you are trying to go. Zillow Group wants to create a space where every employee can be heard” and positively impact everyone with whom Zillow interacts. Zillow Group also created an internal pathways model called “get involved” so every Zillow team member can easily get immersed in equity and belonging, and give back, or just have fun. They use various technology and channels to share these opportunities. This work is exciting for Rebekah. For example, “Kids Day of Engineering” is an annual Zillow Group event where employees bring their children to participate in engineering activities. Another example is Zillow Group’s “Community Pillar” which takes the rental marketplace and allows individuals with credit or rental barriers find housing --- a great example of “incremental work that can be done on top of an existing product to create a new feature that can solve social issues.” Overall, the approach is to “creates pathways for everyone to get involved. We are really trying to channel all the passion and skills our employees have to do some great work.” Rebekah exclaimed. Rebekah believes every woman should “speak up and advocate” for herself  “asking for what she wants.” Her career breakthroughs began by simply asking. On the topic of balance, Rebekah finds times for things like aerial acrobatics as a “physical outlet, social outlet, and creative outlet.” Rebekah is a big fan of making a list to help her keep everything straight as a mother, leader, and philanthropist. Rebekah ended the Diva Tech Talk interview with one of favorite quotes, from the Girl Scouts:  “Leave it better than you found it.” She thinks that can be “applied to anything you are doing and is needed in our world today.” Make sure to check us out on online at www.divatechtalk.com, on Twitter @divatechtalks, and on Facebook at https://www.facebook.com/divatechtalk. And please listen to us on iTunes, SoundCloud, and Stitcher and provide an online review.

What the heck is going on at Zillow? The online real estate giant announced the return of co-founder Rich Barton as CEO, along with a major change in its business model. John Cook and Todd Bishop sort out the news, speculate on the cause, and speculate wildly on what could be next. Plus, Amazon is backing out of a high-profile Seattle skyscraper in the latest sign of its troubled relationship with its hometown. And we say farewell to those cute little Amazon Dash buttons!

Major news to report regarding real estate giant Zillow on this State of the Market podcast. Spencer Rascoff, Zillow’s CEO since 2010, is stepping down. His replacement, Zillow co-founder Rich Barton, already has big plans for the company moving forward, including a shift in strategy that doubles down on Zillow’s budding iBuyer program. Listen to today’s show for more details and our take on the situation. Plus, hear about Remine’s new “MLS 2.0” platform, Purplebricks’ latest expansion problems, and more. Learn more about your ad choices. Visit megaphone.fm/adchoices

When Expedia founder Rich Barton was secretly building Zillow, it was Seattle tech news site Geekwire that first uncovered and broke the story.  Same with the first tests of Amazon foray into the grocery business and numerous other big tech stories.  That dogged reporting is why the Seattle-based enterprise has become the preeminent voice of … Continue reading #21 – INTERVIEWING THE INTERVIEWERS – GEEKWIRE/SEATTLE →

Because his parents set an important example about work ethics, Rich Barton became focused on work and businesses and grew up doing odds and ends jobs like being an ice cream truck driver and a waiter. Even in college, he started an exterior house painting company. After graduating in college, Rich started working for Microsoft at a time the internet was just about to make a boom. He knew the connectivity to information that the internet offered was going to change the world; not just entertainment but global entrepreneurship like shopping and travel. Learn why failing to win makes you creative and how his constant setting of big goals for himself led to pitching Expedia to Bill Gates.

There was a time, not long ago, when information we desperately wanted wasn’t at our fingertips. What’s the best deal on flights to New York? How much does that home down the street cost? Serial entrepreneur Rich Barton has made a career out of providing all those juicy details by launching platforms such as Expedia, Zillow and the company-review site Glassdoor. He shares his journey and advice for the next generation of entrepreneurs.

There was a time, not long ago, when information we desperately wanted wasn't at our fingertips. What's the best deal on flights to New York? How much does that home down the street cost? Serial entrepreneur Rich Barton has made a career out of providing all those juicy details by launching platforms such as Expedia, Zillow and the company-review site Glassdoor. He shares his journey and advice for the next generation of entrepreneurs.

There was a time, not long ago, when information we desperately wanted wasn’t at our fingertips. What’s the best deal on flights to New York? How much does that home down the street cost? Serial entrepreneur Rich Barton has made a career out of providing all those juicy details by launching platforms such as Expedia, Zillow and the company-review site Glassdoor. He shares his journey and advice for the next generation of entrepreneurs.

Bloomberg View columnist Barry Ritholtz interviews Rich Barton, the Microsoft engineer who developed Expedia while working for Bill Gates and Steve Ballmer in the 1990s. Barton then co-founded real estate app Zillow and jobs site Glassdoor, and joined the board of directors at Netflix, where he remains to this day. Barton tells Ritholtz that his companies bring transparency to industries that have traditionally lacked it. “Power to the people” says Barton, is not a political slogan, but “a technological one.” This interview aired on Bloomberg Radio.

The question of how technology and the internet is impacting real estate is a hot question that has a lot of agents, especially new agents, asking if the real estate agent is making Realtors obsolete.  This question is especially controversial right now because of the launch of Zillow's Instant Offers and the controversial Stop Zillow movement. (http://StopZillow.com) I love technology and the internet.  They are amazing tools for our business.  And the answer to the tech vs Realtors question is: NO. Here is why Zillow and the Internet isn't going to replace agents… Don't think they aren't trying. RICH BARTON, founder of Zillow, was also the founder of Expedia.com who were leaders in taking out the travel agent industry all the time claiming that Expedia was friendly to travel agents.  So be clear about this, tech companies can win if Realtors do nothing to stop it.  And if they win...the biggest losers are our clients...homeowners, buyers & Sellers because they will be making huge financial decisions with no skilled representation. Here are the two dominant reasons why technology will not replace skilled, ethical, professional agents: Because Selling or buying a house isn't like any other online sales transaction. Buying and selling a $250,000 house is not like booking a flight, renting a car, or getting a ride to the airport.  It is a sum transaction.  You know exactly what you are getting. whether a human or a website facilitates the transaction: Uber (a ride), Expedia (a hotel etc.), Netflix (a movie).  It's simple and no surprises. A house is totally different.  There is deep complexity and many facets that make the transaction and the acquisition of a piece of real estate a big dial.  The financial repercussions are huge when someone closes a real estate deal and in their life, everything changes because they are moving. Because we are agents, which means we represent clients as a FIDUCIARY. Car salesman, insurance salesman, retail salesperson, and almost all other sales...represent the company, the manufacturer, the store...ONLY.  Their job is to sell you on a product or service and make money off you for the company.  Period.  Representing you is not even a consideration. An agent's job is to serve the best interest, protect, guide, help the client first and foremost.  Your expertise in that process has tremendous value to a client and can be worth tens of thousands of dollars to them or more.  And it can save them tons of grief and regret from making a bad decision. The key is that you as an agent have to know what you are doing and why you are doing it.  If you're just after a commission, you are no better for the client than an online technology portal...and maybe worse. If this episode helps you, please LIKE, COMMENT & SHARE. Hit SUBSCRIBE to get notices of new episode! Go to YesMasters.com For more killer training videos for REALTORS who want more Yes's and more Successes in their business and in their life! From Kevin Ward, international real estate trainer, speaker, and coach.  

On this episode of the Skift podcast, we're talking to some of the biggest names in online travel: Dara Khosrowshahi, CEO of Expedia Inc.; Jay Walker, founder of Priceline; Brad Gerstner, founder and CEO of Altimeter Capital; and Rich Barton, founder of Expedia. They join Skift podcast host Hannah Sampson and contributing writer Jeremy Kressman for a bonus conversation in the Skift Take Studio after appearing on stage at the Skift Global Forum. This is one of several conversations we’re bringing you from backstage at the Skift Global Forum. The Skift Take Studio Series is presented by Mastercard, a payments technology company that is enabling loyalty, security and data solutions for the global travel industry.

Join the Acquired Limited Partner program! https://kimberlite.fm/acquired/ (works best on mobile)   CFO of Zillow Group Kathleen Philips joins Ben and David to cover the show’s first true “merger” versus “acquisition" (only took 22 episodes!), Zillow’s 2015 combination with Trulia to form Zillow Group.    Note: our audio glitches unfortunately continued on this episode, and quality is rough. We recommend listening on speakers vs headphones if you’re able. We apologize and will be back to normal quality next time!   Topics covered include: Zillow and Trulia’s beginnings during the “Web 2.0” era in the mid-2000’s  Zillow, Trulia and other online players’ place within the massive US real estate market The lengthy “dance" between Zillow and Trulia and earlier aborted merger talks between the two The difficulty of "true mergers” among private companies and why the path is easier for public companies  Public company shareholders’ influence and role in M&A transactions  Details of the blazingly fast negotiations (27 days start to finish!) per disclosures in the SEC filings (scroll down to "Background of the Mergers”) Structuring the deal and incentivizing Trulia and Zillow mangers to stay and continue growing as separate brands Trulia cofounder Sami Inkinen’s whereabouts during the merger negotiations  The experience going through a lengthy FTC review of the merger, and defining what the relevant “market” is the FTC should be considering Introducing our new acquisition category: a “timeline acquisition” ;) (h/t Kathleen) Zillow Group’s overall approach to acquisitions, folding into its broader HR strategy  Zillow founder Rich Barton’s startup thesis of searching for "What piece of marketplace information do people crave and don’t have?"   Followups: Snap Inc. Spectacles!    Hot Takes: Twitter-Disney rumors, according to “people familiar with matter”!  AppLovin’s journey from bootstrapped startup to $1.4B exit   The Carve Out: Ben: The Marvel Symphonic Universe David: Shoe Dog by Phil Knight Kathleen: The Struts