Steve Murray on the housing shortage and the “CEO trap”
Today’s HousingWire Daily features a crossover episode with RealTrending, a podcast that focuses on interviewing the brightest minds in real estate and the housing market. In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses the CEO trap and what brokerage leaders need to know about the next big move in real estate technology. Murray also examines the nation’s current housing inventory shortage.
Here is a small preview of the interview. The transcript below has been lightly edited for length and clarity:
The CEO trap: The CEO trap is the avoidance of the things we either don’t do well or don’t want to do. Many of those revolve around holding people accountable to performance in our companies. How many of us avoid those difficult times, those difficult decisions? I recall hiring four CEOs to come in and critique RealTrends. And interestingly enough, their report stated that I wasn’t very good at the duties of a CEO. My talents should be spent on the things that would help build the company.
Housing shortage: A study commissioned by the National Association of Realtors done by the Rosen Group Consulting found that we are four to five and a half million units short of the number of households we have and the continuing deficit of household formation versus housing construction. And that is not a problem we can fix near-term when it comes to a housing shortage.
The next big move in real estate tech: The next big thing in basic technology is technologies that help brokerage companies improve their customer capture rate on all the other products and services they can offer, whether that’s mortgage or title insurance, property casualty insurance, property management, and home warranty services, or home concierge services.
HousingWire Daily examines the most compelling articles reported across HW Media. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.