{"id":18576,"date":"2021-11-03T06:01:28","date_gmt":"2021-11-03T13:01:28","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=18576"},"modified":"2021-11-03T06:01:28","modified_gmt":"2021-11-03T13:01:28","slug":"overnight-news-astute-billionaire-rich-barton-ceo-of-zillow-and-the-incumbent-of-everything-brad-inman-can-sell-out-takes-only-three-years-to-discover-he-sucks-at-selling-real-estate","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18576\/overnight-news-astute-billionaire-rich-barton-ceo-of-zillow-and-the-incumbent-of-everything-brad-inman-can-sell-out-takes-only-three-years-to-discover-he-sucks-at-selling-real-estate\/","title":{"rendered":"Overnight News: Astute billionaire Rich Barton, CEO of Zillow and The Incumbent of everything Brad Inman can sell out, takes only three years to discover he sucks at selling real\u00a0estate."},"content":{"rendered":"

\"Ya

\u201cImagine a puppy who takes three years to house\u00a0train…\u201d<\/p><\/div>Well.<\/a> It turns The Incumbent has a calculator on his phone. Even billionaires can identify a stupid business \u2013 eventually.<\/p>\n

On July 19th, 2019, I took OpenDoor’s business praxis apart in public,<\/a> demonstrating all their foolish marketing errors. Hundreds<\/em> of OpenDoor staffers read that article. I think Eric Wu’s parents<\/em> read it. Even so, precisely zero<\/em> people from OpenDoor reached out to me to learn how to do better.<\/p>\n

In that same week, I also took OfferPad and Zillow Offers apart, documenting the fundamental real estate errors that make the iBuying idea ridiculous.<\/a> None of them followed up with me, of course. Who needs free market research \u2013 that turns out to be telling the truths you won’t see? I asked Rich Barton on Twitter how he managed to lose $160,000 on a $200,000 house and he blocked me. Nice move, Incumbent.<\/p>\n

I haven’t been following Zillow’s flaming Icarus news. Krupke, I’ve got troubles of my own. But I told you the problems they would have in that same week in July of 2019: A retailer without a discount rack must cut the prices for all of the inventory all at once, not just the stuff that isn’t moving.<\/a> Zillow bought stupidly on its strength, and now it is discounting stupidly \u2013 in what is still a killer market for listers \u2013 because it cannot hide the fact that it is a crippled lion.<\/p>\n

There’s always another Icarus, but there are two easy takeaways for anyone who can latch onto the obvious facts of reality faster than your average billionaire:<\/p>\n

    \n
  1. There is no upside to owning non-producing assets. All the money in real estate brokerage comes from socializing the risk to the seller \u2013 being ONLY<\/em> the agent, not the owner.<\/li>\n
  2. \n

    Big-feet real estate players are inherently catastrophic: Make a mistake in real estate, you lose money. Make enough mistakes, you get a job. But if you make market-wide mistakes, you take the whole market down with you.<\/p>\n<\/li>\n<\/ol>\n

    Go away, iBuyers, all of you. You don’t know what you’re doing, and you don’t want to know how Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    \u201cImagine a puppy who takes three years to house\u00a0train…\u201dWell. It turns The Incumbent has a calculator on his phone. Even billionaires can identify a stupid business \u2013 eventually. On July 19th, 2019, I took OpenDoor’s business praxis apart in public, demonstrating all their foolish marketing errors. Hundreds of OpenDoor staffers read that article. I think […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,26,6,5],"tags":[],"class_list":{"0":"post-18576","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"category-marketing","9":"category-real-estate","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17511,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17511\/overnight-news-is-the-incumbent-is-now-the-real-estate-broker-elect-market-swing-threatens-overdue-shellacking-for-doe-eyed-ibuyers\/","url_meta":{"origin":18576,"position":0},"title":"Overnight News: Is \u201cThe Incumbent\u201d now the Real Estate Broker-Elect? Market swing threatens overdue shellacking for doe-eyed\u00a0iBuyers.","author":"Greg Swann","date":"November 22, 2020","format":false,"excerpt":"Seen any commercial TV lately? Have you spotted ads from local real estate vendors offering to make cash offers for homes \u2013 right now, on the spot, in any condition? \"That's not really iBuying!\" the iBuyers will shout \u2013 and it's true. It's flipping Homevestors.com-style \u2013 Ug's uglier offspring. What\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18592,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18592\/overnight-news-zillow-ceo-rich-barton-the-worlds-richest-dipshit-real-estate-investor-leaves-ruin-as-his-legacy\/","url_meta":{"origin":18576,"position":1},"title":"Overnight News: Zillow CEO Rich Barton, the world\u2019s richest dipshit real estate \u201cinvestor,\u201d leaves ruin as his\u00a0legacy.","author":"Greg Swann","date":"November 11, 2021","format":false,"excerpt":"As previously dreaded, Zillow CEO Rich Barton is electing to leave devastation behind him, as he demonstrates to everyone's dismay that he is by far the world's worst real estate \"investor.\" \"The Incumbent\" said everything it takes to get an \"investor\" ejected from my car \u2013 the clueless things people\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1634,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1634\/mgmmirages-citycenter-in-pictures\/","url_meta":{"origin":18576,"position":2},"title":"MGM\/Mirage’s CityCenter in pictures","author":"Greg Swann","date":"July 4, 2007","format":false,"excerpt":"I have written in the past about CityCenter, MGM\/Mirage's seven billion dollar city within the city of Las Vegas -- and I'll write more when I get back to my Macintosh. But here are some photos we shot yesterday at the sales center and on the construction site. A model\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7973,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7973\/how-to-sell-every-house-in-the-neighborhood-except-your-own\/","url_meta":{"origin":18576,"position":3},"title":"How to sell every house in the neighborhood — except your own…","author":"Greg Swann","date":"April 20, 2009","format":false,"excerpt":"Even with as much grief as I lay on practitioners, I feel myself obliged to confess: I do not believe that any so-called professional real estate salesperson could come with with a marketing strategy quite as repellent as this: Tipped by Barry Bevis: \"Drove by this yesterday while showing clients\u2026","rel":"","context":"In "Casual Friday"","block_context":{"text":"Casual Friday","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/casual-friday\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17117,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17117\/overnight-news-why-would-the-worlds-dumbest-real-estate-investor-hire-himself-as-his-own-broker-because-the-emperor-is-definitely-not-naked\/","url_meta":{"origin":18576,"position":4},"title":"Overnight News: Why would the world\u2019s dumbest real estate investor hire himself as his own broker? Because the emperor is definitely not\u00a0naked!","author":"Greg Swann","date":"September 24, 2020","format":false,"excerpt":"Yesterday's big news? \u201cThe Incumbent\u201d doubles down on dipshit. Dipshit-aficionados rejoice. Housing Wire: Home prices post record two-month gain, FHFA says. CTRL-F 'riot'; not found. Redfin: Sacramento, Austin and Phoenix Are the Most Popular Destinations For People Searching For Homes Outside Their Metro Area. CTRL-F 'riot'; not found. Housing Wire:\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3862,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3862\/the-mls-50-manifesto-everyone-working-in-hi-tech-real-estate-must-oppose-this-vicious-plan-with-every-fiber-in-your-being\/","url_meta":{"origin":18576,"position":5},"title":"The “MLS 5.0” Manifesto: Everyone working in hi-tech real estate must oppose this vicious plan with every fiber in your being","author":"Greg Swann","date":"August 12, 2008","format":false,"excerpt":"\"Oh that the Roman people had but one neck, that I might cut it off at a blow!\" --CaligulaHere is the naked essence of Saul Klein's so-called \"MLS 5.0\" proposal:The MLS of the future will bring a marketing service and benefit to the industry by being the single point of\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=18576"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18576\/revisions"}],"predecessor-version":[{"id":18577,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18576\/revisions\/18577"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=18576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=18576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=18576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}