News Roundup, October 2024

Harvey Hancock and Simon Baker get together to discuss recent financial results around the world and other news stories from the world of real estate online marketplaces and proptech industries. Part 2 of 2. 00:00:00 - Introduction to the PPW Podcast 00:00:37 - Scout24 Financial Results 00:08:35 - Adevinta's New CEO and Market Strategy 00:12:38 - Lifull and Lifull Connect 00:25:42 - Lifull + Generative AI 00:30:00 - Simon's go-to AI Tools and Technologies 00:35:05 - CoStar's Office Expansion 00:36:12 - Conference teasers and outros

Join us in this episode of the PPW podcast as hosts Harvey Hancock and Simon Baker sit down with Sarah Wood from realestate.co.nz. Discover the unique landscape of the New Zealand property market and how realestate.co.nz has thrived for 28 years as an industry-owned platform. Sarah shares her thoughts on the challenges and opportunities of operating in a competitive environment dominated by major players like TradeMe. Learn about the innovative features that have driven user engagement and how they are leveraging AI with their assistant, Tahu. Subscribe for more insights from the world of real estate and prop tech! 0:00 - Introduction to the PPW Podcast 0:30 - Overview of Realestate.co.nz 05:02 - User-Centric Product Development 06:36 - Innovation Tournaments and Idea Testing 08:08 - Successful Product Features: Listing Minimize and Price Change History 10:55 - Introduction of AI Product: Tahu 13:56 - Competing with TradeMe 21:13 - Comparing with Australian Market Leaders 22:00 - High Intent Market and Consumer Experience 29:13 - Building a Strong Leadership Team 30:02 - Hiring for Industry Experience vs. Fresh Perspectives 36:43 - Outros Follow us on linkedin: https://www.linkedin.com/company/property-portal-watch Check out - www.onlinemarketplaces.com Listen to the full episode on your favourite podcast platform!

Welcome back to the PPW Podcast! In this episode, host Harvey Hancock is joined by Simon Baker and our first repeat guest, Brian Boero from 1000 Watt. Together, they dive deep into the current state of the U.S. real estate market, exploring the challenges and changes within the Multiple Listing Service (MLS) system. Key topics discussed include: + An overview of the sluggish U.S. real estate market and the impact of interest rates. + The unique structure of the MLS and its significance in real estate transactions. + The implications of recent legal settlements on commission structures and agent behaviour. + The rise of Homes.com and its competition with Zillow and Realtor.com. + The evolving role of AI in real estate, from marketing to transaction processes. + Future of the real estate industry and the potential for a more streamlined market. Don't forget to like, subscribe, and hit the notification bell for more episodes! Timestamps: 00:00 - Introduction 00:23 - Overview of the U.S. real estate market 01:46 - Understanding the MLS 04:38 - Factors driving change in the market 06:20 - The role of Homes.com 08:42 - Realtor.com’s position in the market 10:26 - The impact of ad spending 12:58 - Future predictions for Zillow and Realtor.com 17:01 - Legal settlements and commission structures 19:04 - The role of AI in real estate 25:46 - Conclusion and future outlook Follow us on linkedin: https://www.linkedin.com/company/property-portal-watch Check out - www.onlinemarketplaces.com Listen to the full episode on your favourite podcast platform!

Harvey Hancock and Simon Baker get together to discuss recent financial results around the world and other news stories from the world of real estate online marketplaces and proptech industries. Part 1 of 2. 0:00 - Introduction to the PPW Podcast 0:21 - Overview of Financial Results in the US 0:40 - CoStar's Performance and Competitors 1:02 - Realtor.com's Declining Market Share 3:05 - Impact of Homes.com on Competitors 5:28 - Zillow's Revenue Growth and Challenges 10:31 - Zillow's Segment Revenues: Rentals and Mortgages 12:35 - Redfin's Struggles and Market Share Issues 15:10 - Opendoor's Financial Losses and Layoffs 20:07 - REA Group's Strong Performance 25:08 - Potential Acquisition Rumors for REA 30:55 - Rightmove's Market Position and Challenges 35:34 - Future of Portals and Market Dynamics 40:16 - Conclusion and Teaser for Next Episode Follow us on linkedin: https://www.linkedin.com/company/property-portal-watch Check out - www.onlinemarketplaces.com Listen to the full episode on your favourite podcast platform!

Matthew Page is Commercial Director at Ringier South Africa, a tech hub creating and distributing top-level software solutions to classifieds marketplaces worldwide. In this week's episode, Matt joins Simon Baker and Harvey Hancock to discuss what Ringier is working on, trends across different markets and economies, and what we can learn from Africa. 0:00 intros 3:00 Matthew and Ringier 8:00 Ringier's appearance in Barcelona 9:55 What are the use cases for Ringier tech? 13:00 "It's what you send, not how you send it" 15:00 Tech that does the 'donkey work' 20:00 Implementation and methodology 23:45 Pricing 26:07 Global trends in classifieds 29:21 Profitability challenges of being bloated 31:00 Agent Monetization Models from Ringier's perspective 35:00 Market scraping for sales-focused data analysis 38:15 Scraping without tech expertise 41:01 Bonus Conversation - Business lessons from Africa 45:15 Mobile first 48:10 AI prefers simplicity 49:25 outros

Simon Baker and Harvey Hancock get together to discuss the biggest stories from the past month. 0:00 intros0:59 Patient CoStar 6:15 Underperforming Domain 10:15 Dominant Hemnet 14:32 Sellable Homely? 16:57 Public Dubizzle Group? 20:20 Noncompliant FangDD 24:02 Private PropertyGuru 29:12 Disruptive AI 30:22 upcoming events, content and outros

In a first for the PPW Podcast, Simon and I take the back seat and let artificial intelligence take the lead (really). After a short introduction to set the context, this episode hands over to two non-existent podcasters to discuss all things real estate and conference takeways - all taken from Simon's notes from the on-stage presentations throughout the conference. A stroke of genius, or scary? You decide!

On this week's episode of the PPW Podcast, Simon Baker and Harvey Hancock discuss the complex, expensive and sometimes dangerous experience of being a publicly-listed company. From an overview to the listing and delisting process, to a few anecdotes and "zoom-out" questions, this is an excellent introduction to what being part of public company is really like. 0:00 intros 2:45 Breaking down public companies 9:21 Once you're listed... 12:20 Managing expectations (efficiently) 17:35 What is the profile of a company that is ready to go public? 20:06 Delisting 30:15 Wins and losses 33:25 A company Simon admires 34:30 The future of public vs private ownership 37:10 Final Barcelona conference pitch and goodbyes

Harvey Hancock and Simon Baker jump onto their second emergency podcast in as many weeks after Rightmove rejected a takeover bid by Australia's REA Group. Will a bidding war emerge? What premium needs to be offered to entice Rightmove shareholders to sell? Will a takeover even happen? 0:00 intros 2:52 What's happened? 10:00 Market dynamics and shareholder reactions 17:23 Will a high premium scare off bidders like CoStar? 19:00 Does Simon foresee a bidding war? 21:00 Vendor Paid Advertising 24:00 Has Rightmove's share price already hit its all time high? 27:00 next episode teaser and goodbyes

On this week's episode, Joe Hanna from Fusion 4 Ventures joins Simon Baker and Harvey Hancock to discuss all things scaling and exiting. With multiple exits under their belts, Simon and Joe get into basics, wrong turns, and pragmatism, among other topics. Please note there are some audio issues in this episode - but the conversation was good enough to warrant publishing the conversation anyway. Apologies for any inconvenience for listeners - keep your fingers on that volume button. 00:00 Introduction and Updates 02:58 Scaling and Exiting in the Real Estate Industry 08:04 Challenges and Strategies in Scaling and Exiting 14:51 The Connection Between Scale and Exit 19:07 Top Mistakes in Scaling and Exiting 21:28 Preparing for an Exit: Growth, Profitability, and Cost Synergies 24:35 Reducing Key Person Risk and Ensuring Company Independence 26:49 The Role of Fusion 4 Ventures in the Acquisition Process 28:53 Flexible Payment Schemes for Advisory Services 40:21 The Importance of a Realistic Understanding of the Process and Valuation