Welcome to Shop Talk, our weekly round-up of industry news.
Is Homeownership Still a Part of the American Dream?
Owning a home is out of the question for young professionals in many American cities. Though mortgage rates are historically low, house prices are historically high. Between a lack of inventory and more demand than ever, the American Dream - that long-standing ideal that anyone in the country can better themselves through hard work - may need to be amended.
Introducing Home61, a Platform For The Middle Class
Home61 is a new Miami-based startup aiming to improve the homebuying process for middle-class buyers by removing the commission pay structure. They argue that the commission incentive makes agents spend more time with clients looking to spend more, and as a result the lower class buyers are ignored. Under Home61's structure, agents make a salary higher than the industry average.
Diversity is Essential to Real Estate
As more talk looms around tech companies and their lack of diversity, it's important to take stock of real estate's diverse landscape. Women play a huge part in the industry, and agent longevity is rewarded. The flexible nature of the job means that working parents and professionals with other obligations still have a seat at the table.
Zillow is Adding 3D Real Estate Tours
Forget the massive Matterport cameras of the past! Zillow is working to add 3D walkthrough tours to your listings, and they can be captured with your phone. The company states that 44% of buyers look at homes outside their location, so 3D tours could be a gamechanger.
Sherwin-Williams Color of 2018
Paint juggernaut Sherwin-Williams has announced its official Color of the Year for 2018: Oceanside SW 6496. Sounds dreamy, doesn't it? Their color experts say it represents our growing sense of adventure.