The P/V Podcast
Staley and Ryan start by discussing Ryan’s background and why he chose to join Realogy [1:11 – 6:21]. Next, they discuss the interplay of technology and human agents in the real estate world and how that has shifted with COVID [6:22 – 10:41]. Ryan then describes the pros and cons of iBuying [10:42 – 13:49] and the opportunities that Realogy has in the luxury space [13:50 – 15:55]. They shift to cover macro topics, including Ryan’s view of the housing market [15:56 – 18:41], the future of the office post-pandemic [18:42 – 20:20], millennial home ownership [20:21 – 22:04], long-term interest rates [22:05 – 24:33] and regional differences in housing markets [24:34 – 28:45]. Ryan next details the difference between Realogy’s owned and franchise segments [28:46 – 31:22] and potential refranchising opportunities that he has considered [31:23 – 34:45]. Ryan describes the balance sheet improvements he has made since he joined the firm [34:46 – 36:27], including issuing convertible notes in 2021 [36:28 – 38:26] and how he weighs capital allocation decisions versus buying back discounted shares [38:27 – 40:20]. Finally, Ryan discusses Realogy’s commitment to creating a diverse organization that operates in a socially and ethically responsible way [40:21 – 43:34] and ends with a discussion of his outlook for the business [43:35 – 46:19].
