Beyond the Box – Season 1 – Episode 5 – Morgan Carey – Founder and CEO at Real Estate Webmasters
Beyond the Box – Season 1 – Episode 5 – Featuring Founder and CEO at Real Estate Webmasters, Morgan Carey.
Our fifth Beyond the Box episode is out TODAY and it could not have been with a more inspirational person. Mike McAra had the pleasure of sitting down with the fun and intelligent Morgan Carey, CEO of Real Estate Webmasters and renowned public event speaker.
Watch/listen here to get the scoop on what Morgan is up to and what he thinks about the current real estate climate.
“There will be adoption. It’s forcing us to work outside of our comfort zone and to start looking at some of the things. It’s interesting, I was reading a Harvard Business Review article the other day and they were talking about how the fact that in recession, people actually do tend to invest more often in technology because there isn’t the opportunity cost.”
Full Transcript of the Show
Mike McAra – Beyond the Box Host: Alright, so we’re on
here. So, thanks so much Morgan for coming on the show. Really appreciate your
time.
Morgan Carey – CEO, Real Estate Webmasters: No
problem.
Mike McAra – Beyond the Box Host: So, uh, so I guess we can
start by chatting around, you know, current events and the elephant in the
room. So, being the CEO of you know, the Real Estate Webmasters, how have you
been able to manage the transition from working on campus to having a lot of
your people working remote, you know, in the new reality here. How are things
kind of moving for you guys in your transition?
Morgan Carey – CEO, Real Estate Webmasters: Yeah, you know
it’s interesting obviously the dynamics are different from region to region and
to country to country. I feel like in Canada, we’ve been very fortunate for a
lot of reasons. We’ve got, you know, a really good support of Government,
healthcare, and a lot of space in between people, so we’re not as condensed of
a population. So, you know, first of all the other people not in Canada
listening, it’s a different paradigm for us, but we still obviously want to
support the Global social distancing effort you know, sheltering at home when
you can. Myself, personally as we talked about, we were on a work trip when all
of this stuff went down, so I was quarantined for the last 14 days. I just got
out of quarantine which is great. Um, but no it’s been an interesting and
really stressful and challenging exercise in, in, urgency. Right?
Mike McAra – Beyond the Box Host: Mhm.
Morgan Carey – CEO, Real Estate Webmasters: We all realized
very quickly not only is there serious health uh, impact if you don’t move
quickly, but there is also serious economic impact. So, we spent our first week
in just absolutely ensuring our staff were safe. You know we obviously have had
sidebar conversations about, you know, what is next and how to take care of our
clients and all that sort of stuff, but we moved from over 100 people on
campus, you know between our Vancouver and Nanaimo offices to zero people on
our Vancouver campus and we actually shut our Vancouver campus down.
Mike McAra – Beyond the Box Host: Wow.
Morgan Carey – CEO, Real Estate Webmasters: Everyone went
home and ah uh, we’re about 75% on Nanaimo campus has gone home as well. And,
for us, because we, we’re not what some people think of as a tech company, in
the sense that we don’t work remote we actually we have a “work on campus
policy” and that’s to encourage collaboration, product quality, culture, and so
it’s a real hit for us to not see our friends and our family every day and the
people we work with, we really do think of as family. And so, there’s, there’s
a morale hit, there’s a process and you know, we’re just trying to all figure
out how to… how to work with each other collaboratively in the same way that
we’re used to but not being able to talk face to face. Umm. And there’s
logistical challenges too, like, um, we didn’t have take-home laptops for
everyone. Right?
Mike McAra – Beyond the Box Host: Right.
Morgan Carey – CEO, Real Estate Webmasters: And in our
world, security is massively important, and so we don’t allow people to work
from private machines. They have to work from company machines so that they
have the proper securities software, and VPN, and all this sort of stuff. We
had probably 40 take home laptops in our company for travel and whatever,
right? So, trying to find 60 extra laptops in a crisis is actually pretty
difficult.
Mike McAra – Beyond the Box Host: Well especially when
Apple goes and shuts down all their stores.
Morgan Carey – CEO, Real Estate Webmasters: Exactly right,
exactly right. So, there was a lot of adjustment. There was you know,
retrofitting people’s spaces at home and doing you know, analysis of where they
could work. They’re bringing their actual, physical, PC’s home, or their
physical Mac, you know, Mac pro’s and stuff like that. So, you know, it was…we
move very fast and um, but it was really challenging. Really stressful for our
leaders and for our staff, so um. We’re up and running, we are at a reduced
staff level though, that was the next piece is that
Mike McAra – Beyond the Box Host: Yeah.
Morgan Carey – CEO, Real Estate Webmasters: We recognized
that demand was pretty significantly impacted as well. Where obviously we’re in
the software business, but we have a large agency and uh, our overall staff
levels were reduced by 40%.
Mike McAra – Beyond the Box Host: Oh wow. Wow.
Morgan Carey – CEO, Real Estate Webmasters: –Pretty
significant from that perspective. But there is government programs that help
offset those costs, and so again, being Canadian, we’re very fortunate that the
net, net of the people who either have been laid off, or have staff reductions
in this country you know, can often times and end up keeping them relatively
close to their standard of living, so I think we’re very fortunate to live
here.
Mike McAra – Beyond the Box Host: Oh, absolutely. And I
think that you know, that this just continues an overarching story for your
story of you know, how real estate webmasters has become a household name in
you know, the real estate technology market. Because you constantly have to
pivot and reiterate and change things on going and so you know, obviously this
being a black swan event and being extremely truly terrible, really, this has
been in your core DNA being able to adapt. So, maybe it’d be really helpful or
really exciting to sort of talk through how your path to kind of get here and
how you were able to take an idea and a concept back in when, what was it, 2004?
When you launched this and how you were able to build it out to today.
Morgan Carey – CEO, Real Estate Webmasters: Yeah, yeah, so
umm…. I, you know, historically, I come from the search engine space. That was
the first SEO guy. I owned a SEOguy.com I was one of the founders, I was one of
the founders of SEO Chats. So back in the late 90s and early 2000s that was my
origin story. And I um, became really successful in education, actually, real
estate was not my first vertical. And um, so successful in fact that the
company I worked for who ended up being the University of Phoenix decided that
they’re paying me too much money and wanted to buy me out.
And so, I did my first sort of, buy out deal, and um, did very well but it
also came with a non-compete in education. And so, I said, “Wow…vertical
marketing is something I’m really good at. I should pick my next vertical.”
Right? And so, it was actually about 2002 I think, when we got into real estate
because I had a few clients in, you know SEO clients from my SEO consultancy
and obviously I just got a bunch of money, so I bought a bunch of real estate
and I’m an entrepreneur so you do your research in real estate becomes a big
component of you know, empire building and stuff.
Mike McAra – Beyond the Box Host: Yep.
Morgan Carey – CEO, Real Estate Webmasters: And um, the um,
the crux of it was you know I needed to pick another vertical because it just,
I knew exactly what I wanted to do and at the time we actually opened a company
called RealEstateOptimization.com. So…
Mike McAra – Beyond the Box Host: Hmm… Good.
Morgan Carey – CEO, Real Estate Webmasters: So REW wasn’t
REW yet, right? Cause…
Mike McAra – Beyond the Box Host: It was Steven King before
it was Stephen King.
Morgan Carey – CEO, Real Estate Webmasters: So yeah, we did
only uh, SEO services, but what we found very quickly was that there wasn’t
very many good vendors. Actually, there were no good vendors quite frankly in
this space. I was used to working with Adobe, eBay, digital river, big
companies who —
Mike McAra – Beyond the Box Host: –You know, some
household names.
Morgan Carey – CEO, Real Estate Webmasters: Right? And you
know, when you start working for a successful realtor or brokerage, in 2002,
they didn’t have tech companies or in-house design, or anything web related.
And so, we found it very frustrating to try to do the job we needed to do on
sub-par products.
Mike McAra – Beyond the Box Host: Right.
Morgan Carey – CEO, Real Estate Webmasters: So, we started
bringing in top level design talent, top level programming talent, and needing
to custom build the platforms from the ground up. And, uh, so we realized
pretty quickly that um, our name didn’t really match our services. Because we
were doing design, we were doing branding, we were doing programming, we were
doing writing. Not just SEO. So yeah, April 9th of 2004, we re-branded
and um…
Mike McAra – Beyond the Box Host: Okay, got cha.
Morgan Carey – CEO, Real Estate Webmasters: –So that’s
where Real Estate Webmasters comes from, is sort real estate optimization is
what we were doing, but then we realized that we were actually fully rounded
real estate webmasters. And so, um, that’s where, that’s the origin story for
REW!
Mike McAra – Beyond the Box Host: Gotcha. You know, it’s
uh, it’s so interesting if you think about it, 2002. So, we’re talking about
pre-Facebook, pre-iPhone. I mean, Blackberry is just becoming a name at that
point, and you’ve been able to see the spectrum from, call it, you know, web
1.01 and a half point 0, and now we’re talking about things like i-buyers
subject to the all pausing last week, and this week, but you know, and you’ve
got all sorts of these industry changes. And one of the key conversations If
find myself having all the time is you know, what is next? How have we kind of
gotten to where we’re getting? And less from sort of the association industry
level, but really, what are the realtors saying? And how are their businesses
changing over it. It’d be really interesting to get your take on how you see
um, you know, the business model for the agent change over the course of, you
know say, 2000 until now, and how you see it going forward. Um, both with the
impact of say, of say, with COVID [CoVID-19] being now part of this, but also
kind of the technology constant advancement and you’ve got Compass and you’ve
got Softbank, all this capital inflows. There’s a lot of things going on there
so.
Morgan Carey – CEO, Real Estate Webmasters: It’s a… it’s a
different question now, isn’t it?
Mike McAra – Beyond the Box Host: Yeah.
Morgan Carey – CEO, Real Estate Webmasters: So, here’s the
thing. Fundamentally, I don’t actually believe the value
proposition or the job of being a relator has changed since 2004.
Mike McAra – Beyond the Box Host: Okay.
Morgan Carey – CEO, Real Estate Webmasters: And, I think
their pitch has changed, and maybe their understanding of what they do and
provide as a service is maybe evolved and they’ve become more particular around
it, but I always believe and have always believed, and will continue to believe
that the relators deem the emotional heart of the transaction. I don’t think
that real estate is the same as travel. I don’t think that a lot of the
parallels are the same because this is, as everyone talks about, the largest
financial transaction in anyone’s lives. And it is complex, because you are
dealing with multiple parties; you’re dealing with buyers, sellers., sometimes
multiple parties on each side of those things. Financial institutions, titles,
mortgage, everything. Um, and people don’t seem to understand that while you
can remove the complexity in some of those transactional pieces, there is still
a human on each side of the transaction. And dealing with humans is something
that algorithms do that well. Right? And dealing with the emotional components
even in the best of times, is still a difficult thing and I believe that people
will always want to work with people when it comes to transacting homes. So, I
don’t actually think that the role of the realtor has changed, I think um, that
the realtors that have suffered are the ones who are actually trying not to be
realtors.
Mike McAra – Beyond the Box Host: Interesting.
Morgan Carey – CEO, Real Estate Webmasters: Right? So, if
you think about what people are accusing Zillow of trying to
do, and if you think bout what people are saying about I-buyers, realtors
themselves were looking for more efficiency to do more transactions etcetera.
They were actually trying to take themselves out of the transaction. Those
people can’t compete with Zillow, because their value proposition compared to
Zillow is not the same, right? They don’t have the same capital, they don’t
have the same technology, etcetera.
Mike McAra – Beyond the Box Host: Yeah.
Morgan Carey – CEO, Real Estate Webmasters: Right? But any
relationship-based realtor which is what I think is every realtor should be,
has the same job and will always have the same job is how I feel.
Um, now, with respect to COVID [CoVID-19]; it’s funny, I was on a call with
some of my B.C friends earlier today, and this is a whole different ball game
now. The “recovery” from, from Co-VID will be a few months. The economic
recovery will be a few years.
Mike McAra – Beyond the Box Host: Yeah.
Morgan Carey – CEO, Real Estate Webmasters: If there’s one
thing we know is that when people feel apprehensive and when people are scared,
they are going to flock to safety. And safety is going to be the expertise of
the realtor. And so, I actually think that all of those people: Zillow, you
know, any I-buyer program, etcetera. If they overinvested, I think they’re
screwed.
Mike McAra – Beyond the Box Host: Interesting.
Morgan Carey – CEO, Real Estate Webmasters: I think their
model relied on predictability. Right? Their model relied on the fact that you
can put money in now, because we can clearly see a path of safety for the next
couple of years in order to throw these billions of dollars in. Take losses,
grow market share, etcetera. Um, but it… the game has changed. Its consumer
sentiment has changed. In an instant.
Mike McAra – Beyond the Box Host: Do —
Morgan Carey – CEO, Real Estate Webmasters: And we will not
be unafraid in two months.
Mike McAra – Beyond the Box Host: So, do you… And I can
completely understand those points. Do you think that from the realtor’s point
of view, though, with their technology, that this is going to help spur
innovation on, or adoption from the Agent’s side? To, let’s say, streamline um,
more, call it, remote again video chat, kind of like what we’re doing here to
help forward the transaction to help spur innovation, do you think there would
be a spur in that type of innovation?
Morgan Carey – CEO, Real Estate Webmasters: Um, well, not
in innovation. The innovation exists. I do think that…
Mike McAra – Beyond the Box Host: Adoption, sorry.
Adoption. Yeah, that’s a better word.
Morgan Carey – CEO, Real Estate Webmasters: There will be
adoption. It’s forcing us to work outside of our comfort zone and to start
looking at some of the things. It’s interesting, I was reading a Harvard
Business Review article the other day and they were talking about how the fact
that in recession, people actually do tend to invest more often in technology
because there isn’t the opportunity cost.
Mike McAra – Beyond the Box Host: Right. Right!
Morgan Carey – CEO, Real Estate Webmasters: The important
point they make, and that is, when times are really good, you’re way too busy
closing deals to do anything else. And you want to! You want to make hay while
the sunshine, or whatever.
Mike McAra – Beyond the Box Host: Oh yeah.
Morgan Carey – CEO, Real Estate Webmasters: But right now,
we actually have the time, and the resources. We can’t get rid of our
resources. We need them. Because this is a short-term thing. This is three or
four months. So, we have to put them to use, and to good use, on projects that
will benefit us on the upswing. And so, absolutely, any technologies or
infrastructure, any project that will actually allow people to capture market
share as we start going back up, I think the smart companies will be investing
in.
Mike McAra – Beyond the Box Host: Well, I’d imagine that’s
probably a conversation that you’re having a lot with your clients as well,
right? Its, it doesn’t take a day to build a website, right?
Morgan Carey – CEO, Real Estate Webmasters: Right.
Mike McAra – Beyond the Box Host: And it doesn’t take a day
to invest in good SEO either, right? So, now is a good opportunity, assuming
that, you know, the world will continue to turn, I’m going to make that
assumption. I think you’re going to make that assumption. Right? And I think I
was reading a report from Mike Pelfrey, that he referenced the recovery from
SARS in Hong Kong in 2003, I think it was.
Morgan Carey – CEO, Real Estate Webmasters: Yep.
Mike McAra – Beyond the Box Host: And you know, the
transactions dropped by 80 to 90%, but within two to three months it snapped
right back. You know there wasn’t… it didn’t make up the loss, but it brought
back to typical levels. So, you know again, depending on where you are in the world,
it’s you know, it’s now that time to invest in those tools.
Morgan Carey – CEO, Real Estate Webmasters: Yeah, yeah.
What I talked to my teams about, is there’s really three kinds, or three groups
of people right now in this pandemic. There are the people who are absolutely
crushed by it; both emotionally and financially. So, they don’t have the choice
to invest.
Mike McAra – Beyond the Box Host: Right.
Morgan Carey – CEO, Real Estate Webmasters: They might not
be able to anyway, because they aren’t handling the world. There are the people
who are the “wait and sees” where they probably could, if they wanted to take a
risk, but they’re kind of waiting and seeing. And then there are the people who
see this as an opportunity and have the resources to take advantage of it. But
the way I break it out for my team, is I tell my team that at least 50% of the
people live in that world where they can’t do anything right now. They have to
do what it takes to survive.
Mike McAra – Beyond the Box Host: Mhm.
Morgan Carey – CEO, Real Estate Webmasters: And absolutely
they should do so. 40% of the rest of the people; 40% of the people are the
“wait and sees.” That takes 90% of our opportunity off the table for the next
couple of months. So, as entrepreneurs, we understand the massive impact.
Imagine 90% of the business, like you said for SARS, goes away. And in real
estate, it’s no different for vendors, right? So, we have to figure out what’s
going to happen with the 10% and that’s the group that we’re talking to.
Because right now, you know, sensitivity aside, like we are sensitive to
this.
Mike McAra – Beyond the Box Host: Yeah.
Morgan Carey – CEO, Real Estate Webmasters: Of course, as a
company, we took care of our people first, and made sure that everyone was safe
and healthy. But then, we actually have a responsibility to the global economy,
to try and flatten the curve when it comes to recession. And that means, where
we can encourage people to invest, we should.
Mike McAra – Beyond the Box Host: So, for your perspective,
being… having gone through a financial crisis, how does that compare to what
you’re experiencing now?
Morgan Carey – CEO, Real Estate Webmasters: So, uh, it’s
totally different, here’s why. The financial crisis is actually the best growth
time in the history of my company.
Mike McAra – Beyond the Box Host: Interesting.
Morgan Carey – CEO, Real Estate Webmasters: And the reason
for that, if you think pre-financial crisis, people just didn’t care. They were
closing deal left, right and centre. They were spending money on TV
commercials, and all this stuff. They had no idea where the money was coming in
from. But they were happy to spend it because there was lots coming in.
Mike McAra – Beyond the Box Host: Right.
Morgan Carey – CEO, Real Estate Webmasters: As soon as the
financial crisis hit, people realized they needed to tighten their purse
strings, and what again they would do is flock to safety. The internet is
completely trackable, right? We can put dollars in, you can track where those
dollars went, what leads became out of those dollars, and what deals came out
of that. If you’re going to choose between an expensive TV commercial and
billboard, versus guaranteed ROI, you’re going to pick the guaranteed ROI. And
so, we actually got a lot of business and growth during the financial crisis.
But it was not as…it was not as much of a “black swan” to your point event, it
was a little bit more…not predictable…I think it was actually.
Mike McAra – Beyond the Box Host: Well, I mean, some people
called it!
Morgan Carey – CEO, Real Estate Webmasters: So, it’s not
just that, its impact took time to truly take effect.
Mike McAra – Beyond the Box Host: Right.
Morgan Carey – CEO, Real Estate Webmasters: It wasn’t
instantaneous. And it was prolonged, but then the recover was similar. But here
there was no time to plan. Here, there was no conversations like… it was last
week we were talking somebody about doing a new project and
they had all the money in the world and now this week they’re broke and they’re
asking for a discount.
Mike McAra – Beyond the Box Host: Right. Yeah.
Morgan Carey – CEO, Real Estate Webmasters: Because panic,
the fear, the media…is so strong right now. And it’s totally understandable.
But I think in two weeks people are actually going to be going, “you know what?
I’m glad we over-reacted. If we over-reacted, but now we recognize that this is
the new normal and let’s get on with the course of business so we can save the
economy.”
Mike McAra – Beyond the Box Host: Well, and it truly is a
paradox in the sense that, if you don’t react, then the worst happens. But if
you react then it never occurs; so, the question is “should have I reacted so
strongly” right? And so, it’s such an interesting. It’s like those thought
experiments that they have, you know. Pick your favourite university or
something and now it’s a reality. But I guess in saying that, you know, and
just to kind of to get towards the end and to wrap it up. Obviously, there is a
lot of change going on and there are lots of challenges happening. In your
opinion, how do you see the next year, we’ll put a time limit on here. What are
the biggest challenges to realtors and tech companies over the next year? And
then, what are the biggest opportunities for both tech companies and realtors
over the next year?
Morgan Carey – CEO, Real Estate Webmasters: So, the
challenges to realtors are… I think very predictable. Surviving the next 90
days from a financial, you know, because again historically, they don’t have a
lot of savings, they don’t plan… nobody plans for these things. Surviving the
next 90 days is challenge number one. Challenge number two is actually taking
advantage of the opportunity that is going to happen on the upswing. They need
to be prepared for that, right? Because, you’re right. Just like with SARS,
they might not recover to the exact same levels as it was, but you also have to
recognize that a lot of people are going to go out of business. There are going
to be a ton of opportunities for realtors, 90 days from now that they need to
start preparing for today. So as long as you’re at home and you’re safe, the
challenge is financially making sure you make it through and all that sort of stuff,
but if you’ve got that covered, people really should be thinking about how to
service the market adequately and take advantage of the market share that is
going to happen on the upswing, right? Because, we’re going to hit a bottom in
about a month and then it’ll start going up.
Mike McAra – Beyond the Box Host: Yeah.
Morgan Carey – CEO, Real Estate Webmasters: So that’s a
realtor challenge. Tech companies… um… you know, again, everyone has to
survive. There are small, medium, and large tech companies. A lot will not
survive. I think that there will be adjustments to people’s expectations when
it comes to M&A. M&A will be wiped out, I think. From a high, high
multiple, high valuation perspective.
Mike McAra – Beyond the Box Host: Right.
Morgan Carey – CEO, Real Estate Webmasters: It will still
be done, but companies are going to go on sale. We know
this.
Mike McAra – Beyond the Box Host: 10 to 20x revenue
numbers, won’t be the norm?
Morgan Carey – CEO, Real Estate Webmasters: Well, that’s
not the norm in our space anyways, but somewhere between 2 and 5x is. The tech
companies. The 2 to 5x is going to become 1 to 3x.
Mike McAra – Beyond the Box Host: Right.
Morgan Carey – CEO, Real Estate Webmasters: People don’t
adjust their expectations; they won’t be able to sell their companies. And
there will be less people wanting to buy companies unless they’re on sale. And
a lot of the companies who could have sold 6 months ago, and should have, quite
frankly, will just actually go out of business. Because they won’t be able to
adjust. So, short term, it’s going to be all kinds of um… chaos, in that sort
of space. Longer term though, very similar to the realtors. We all have the
opportunity to take market share. Everyone is going to go on online, because
everyone is going to realize, “Holy shit, during this time, I did not have a
good CRM and I wasn’t able to be organized. I wasn’t able to reach out to my
past clients. I wasn’t able to continue to do my business if I wasn’t able to
do open houses or door knocking, or whatever.” So, I think those of us that are
in the platform, CRM, lead gen space, it’s going to be a massive, massive,
bounty. It’s going to be there… everyone will get off the fence. Everyone
recognizes the value of online collaborative tools. And so, I don’t want to
look forward to anything per say, because of how shitty this situation is
currently.
Mike McAra – Beyond the Box Host: Yeah.
Morgan Carey – CEO, Real Estate Webmasters: But if you need
to look for a silver lining, I think the opportunity for the good tech
companies is actually quite high.
Mike McAra – Beyond the Box Host: Love it. Love it. So
then, just last question so, hypothetically, it’s 2021. Inman Connect, New York
City, you’re the keynote speaker. What are you talking about?
Morgan Carey – CEO, Real Estate Webmasters: [laughs]
Inman 2021 in New York, I’m the Key Notes Speaker…
Mike McAra – Beyond the Box Host: Yeah.
Morgan Carey – CEO, Real Estate Webmasters: I’m probably
talking about the resurgence of the realtor. I probably am, to be honest. It,
it’s… um… this concept that their value becomes greater in adversity, I think
is an important concept. And I think reminding them of that, right? Reminding
them that your true value is the fact that you are the heart and the soul of
the transaction. You know, we say it a lot, but people still get distracted by
trying to be a tech company, or trying to be a lead gen company, or trying to
be something you’re not. Right? I believe that the resurgence of the realtor,
or I… in a crazy way, and I hate to say this, I feel like Covid in some ways
will save realtors.
Mike McAra – Beyond the Box Host: Interesting.
Morgan Carey – CEO, Real Estate Webmasters: Yeah.
Mike McAra – Beyond the Box Host: Hmm.
Morgan Carey – CEO, Real Estate Webmasters: Yeah, it’s a
concept I’ve been thinking about, right? Is that, it will have re-emphasized
their value in the transaction.
Mike McAra – Beyond the Box Host: Well, if anything I think
what it’s proved is that we crave social interaction, and you know, as we said
in the beginning here, relationship are so essential when you’re brokering the
single largest transaction for most people. So, you know, I think that time
will always tell, but yeah, it’s definitely plausible.
Morgan Carey – CEO, Real Estate Webmasters: So yeah, we’ll
see. Maybe you can ask me in New York!
Mike McAra – Beyond the Box Host: Yeah, I hope so! I hope
to start seeing people in person again.
Morgan Carey – CEO, Real Estate Webmasters: Yeah, that
would be good.
Mike McAra – Beyond the Box Host: Anyways, thanks. Thank
you so much for doing this again, Morgan. I really appreciate your time.
Morgan Carey – CEO, Real Estate Webmasters: No problem.
Thanks Mike.
— End of Podcast —
Beyond the Box: Conversations with real estate executives, venture capital partners and technologists on what lays ahead for the real estate industry in a world after COVID-19.
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