Bryson Koehler

Which vacation rental markets will see the most growth in organic STR demand over the next 5 years? We went about answering that question and more in some amazing research with my team at AirDNA. Full report here: https://lnkd.in/e4Dx22AY A brief overview below (you should still read the report): We started with a hypothesis that the massive migration movements over the past 4 years would have a long-term impact on short-term rental demand growth. Furthermore, expected upcoming population growth would further dictate future travel trends Why? The city you live in plays a major factor in where you travel. We first determined the feeder cities for every major vacation rental market, then measured the statistically significant relationship between population and STR demand growth: For the last two years (2022 and 2023) every 1% population growth in feeder cities correlates with a 2.5-3% increase in STR demand. Looking at the past 4 years, metros like Houston, Dallas, Phoenix, Tampa, Austin, and Atlanta saw the most in-migration while New York, Los Angeles, Chicago, San Francisco, Oakland, and San Jose realized the most out-migration. Based on these historical population movements, and expected travel destinations, these are the vacation rental markets poised to capture most demand growth: 1. Corpus Christi, TX 2. Fredericksburg, TX 3. South Padre Island, TX 4. Galveston, TX 5. Broken Bow Lake, OK 6. Pinetop-Lakeside, AZ 7. Boone, NC 8. North Carolina Mtns 9. Lake Hartwell, SC 10. Hot Springs, AR We then measured changes in future demand using Oxford Economics' population growth forecasts each metro area, weighted by each vacation rental markets current share of feeder city demand, for the next 5 years and compared it to the current investment yield in those same markets. This helps answer: Where are the best paces to invest today and capture outsized demand growth in the future? What vacation rental markets am I investing based on this research? Top right quadrant! (Scatter plot in the comments below). In no particular order: - Corpus Christi, TX - Broken Bow Lake, OK - Grey Harbor, WA - Northern Cascade Mtns, WA - North Georgia Mtns - Galveston, TX - Boone, NC - Fredericksburg, TX - South Padre Island, TX Check out the full report, where you can also explore the feeder cities for every U.S. market. Want the full list? Shoot me a DM. https://lnkd.in/e4Dx22AY Great work by Jeff Tucker & Bram Gallagher with incredible support from the AirDNA research & marketing teams.

108

11 Comments

New on the FBS Blog: How MLSs can allow commingling while establishing the brand value for MLSs. https://lnkd.in/gkdPvyBG

11

Fellow software company AccountTECH released a report finding that real estate brokerage net operating profits were 60% for the first half of 2023 and 62% in 2024. We know sales volume has been down; but that leaves 38% of brokerages operating in the red. With the uncertainty around the commission practice changes, lenders have the opportunity to leverage their technology to capture and nurture leads for their agent partners - making them part of the solution as the real estate sector finds its way through new territory. #LoanOfficer #MortgageIndustry

6

CoStar Group’s Homes.com claims to be the #2 portal based on traffic, but there is a significant discrepancy between its self-reported numbers and third-party traffic measurement tools. Real estate portals derive their power from traffic; that exposure is what they sell to agents – and the third-party tools all show Homes.com in fourth, not second, place.

117

25 Comments

Navigating Labor Shortages in Multifamily Operations We explore how talent shortages are reshaping the multifamily industry. Discover the impact of outsourcing and efficiency in business operations, as well as the challenges posed by competition for skilled labor in a rapidly evolving marketplace. #MultifamilyHousing #LaborShortage #OutsourcingSolutions #BusinessEfficiency #TenantSatisfaction #RealEstateIndustry #WorkforceChallenges #GigEconomy #MaintenanceInnovation #CommercialRealEstate

12

Learn more about how we are continuing the push forward to change how real estate is done! #Offerpad

2

Does quality matter more than quantity? When it comes to local property management, it does. Airbnb's CEO @Brian Chesky recently reported that Airbnb guests tend to rate small scale operators higher than large scale property managers across Airbnb's co-hose properties. This is due to the appeal of the "local feel." This is a great lesson to take away for property managers of any kind. Whether you're managing residential properties, multifamily units, or renting out other spaces, investing in the consumer's experience is essential. This extra step develops a local and personal feel to the property. #PropertyManagement #Airbnb #RealEstateTrends #MyLighthouse

1

Just returned from #IMN #SFR East in Miami, where I experienced a different but insightful energy. The conference showcased a diverse vendor range, notably with an increase in BTR builders alongside lenders and service providers, some smart vendors but noticeably less folks working on data sales, data movement, avm's and other acquisition tech. Key themes revolved around abundant capital and tight / mispriced on market deals, BTR and financing emphasis, and operational optimization. AI themes were prevalent, focusing on data cleanup, tenant chatbots, as well as overhyped and disturbingly referenced 'magic AI decision machine.' I walk away re-inforced by the idea that the asset class as a whole has a lot of long term value but where we are in the cycle, a lot of the "quick value" created by on market MLS acquisition will need to be held a while to realize returns. Folks are taking the time to get data ready and to think about tech. Data readiness and strategic leadership in AI for SFR is much more mature than it has been in the past with folks realizing what it actually takes and setting up process and systems to sharpen and/or select their solutions, build there teams and deploy with thoughtfulness and care. The key is to approach AI adoption with balanced expectations to unlock its full potential. Excited to witness these trends evolve and continue discussions on the future of AI in real estate. #IMNSFREast #AIinRealEstate #PropTech #DataReadiness #ThoughtLeadership

15

1 Comment

Worth the 9-minute watch 👇 My boss Greg Holmes discusses how at Xactus we leverage data to help lenders not just fill & maintain their pipelines, but order services at the best in the loan process based on the lenders workflow to compliantly reduce fallout costs. #AdvancingtheModernMortgage #PowerinData

2

"75% of leading brokerages in the U.S. have already adopted AI technologies and are slowly integrating them into their work." According to the 2024 New Delta Media Survey, AI is truly transforming the real estate industry. Its impact is becoming enormous, leveraging tools powered by big data to support smarter decision-making and streamline processes. As these innovations take hold, the way we approach property transactions and market analysis is evolving rapidly. https://lnkd.in/d6mQ_tjr. #RealEstate #AI #Innovation #BigData

16

 As we gear up for the new year, it’s the perfect time to refine workflows, clarify team roles, and embrace tools that make growth possible. In my latest blog post, I share actionable strategies to: ✅ Eliminate inefficiencies with automation ✅ Define clear team roles to boost productivity ✅ Foster communication to avoid bottlenecks 💡 A streamlined business today sets the stage for a thriving tomorrow. Read it here: https://lnkd.in/gzM5V_5E Let’s make 2025 the year we optimize, innovate, and grow. 💼✨ #OperationalEfficiency #BusinessGrowth #2025Planning #Leadership #beyondtitle

8

Struggling with space optimization in your CRE portfolio? Linus Grasel our CIO & Co-Founder, explains how neighborhood-level data can drive efficiency and employee satisfaction. Dive into the details in our latest blog: https://hubs.la/Q02F5CMG0 #CRETech

10

2 Comments

➡️ Join us at Gartner IT Symposium/Xpo! Discover how Dialpad’s AI-driven platform is redefining communication and collaboration for the modern enterprise. Whether it’s optimizing your contact center, empowering your teams, or driving business efficiency, we’ve got the solutions you need! ✅ Book a meeting with our experts to learn more about transforming your business with AI: https://lnkd.in/dUiABccZ Don’t miss out – see you at #959! 👋 #GartnerSYM #DialpadAi #FutureOfCommunication #ITInnovation #BusinessTransformation

20

This morning, our team at Markerr announced the launch of RealRent Comps, our newest product delivering critical rent insight for owners and operators of Multifamily and Single Family Rentals. Clients use our product to rank market performance, underwrite new properties, benchmark the performance of existing assets and price renewals and new leases. Our launch arrives at an important time in the industry with the ongoing uncertainty surrounding revenue management and antitrust concerns. Owners and operators, en masse, are migrating away from privately shared competitive rent data towards publicly aggregated sources. With RealRent Comps, Markerr clients can now access the largest, most granular source of rent data in the industry. In addition to having a census view of real-time rents in every market, our product offers substantially longer history than other sources as well as floor-plan-level granularity into pricing, term, concessions, amenities and other important attributes. RealRent Comps also enriches our broader product portfolio which covers every SFR and Multifamily property in the country as well as submarket-level demand and supply indicators. We began collecting this data simply because we thought this approach – publicly aggregating listings for all apartments / homes for rent – would result in the best possible view of rent. Our approach has resulted in a sample size anywhere from 2-4x the coverage of other vendors. Recent uncertainty has yielded another benefit of our approach for clients – the ability to mitigate risk related to the use of confidential data obtained through “give and get” models. The best evidence of the value of this product, however, is provided by our clients and prospects which have been actively leveraging or evaluating RealRent Comps over the last several months: +Roughly half of the Top 25 Multifamily owners are actively using or evaluating RealRent Comps. +Two of the five largest SFR owners actively use RealRent Comps to drive decision-making. +Three enterprise Proptech companies are actively using or evaluating RealRent Comps. +In testing our coverage relative to owner/operator comp sets, RealRent Comps regularly achieves high 95-99% coverage, materially higher than other sources. +One large Multifamily owner recently commented that our rent data was “the best we've seen” following a competitive bake off. We are tremendously excited about the feedback to date - congrats to our product, data science and engineering teams for shipping this product and thanks to our clients for their valuable input and continued support.

48

5 Comments

This morning Amy Gromowski, VP Head of Data Science, at CoreLogic and Ranbir Mazumdar, Machine Learning and Generative AI Specialist, at Google led a discussion about how the #mortgage professional can become "AI-ready". They talked about the main components of the #AI value chain and the common challenges organizations face as leaders take AI head on. Excellent session!

4

One sign of true innovation is when people see the product or service and say "that's not innovation, I thought of that" or "I had that idea years ago." Yes, the word "innovation" gets overused and misused all the time. But when fundamental change actually takes hold, it is almost always intuitive and easy to adopt. The thing that strikes me about Final Offer is that it is intuitive and easy to use. For anyone curious about how the real estate industry is evolving or how technology is finding a moment in this market, check out Final Offer below. #innovation #homebuying #nextgenAgents #realestate #firsttimehomebuyer

11

2 Comments

Check out this interview with Brian Hale for a strategic update around the NAR Settlement and why it's the opportunity of a lifetime for Realtors according to Tom Ferry, and what mortgage industry leaders should implement right now to get ahead of their competition and win market share.

4