Jack Miller on Lists, Trends, Marketplaces and CoStar.

Jack Miller on Lists, Trends, Marketplaces and CoStar.

Author: Rob Hahn and Greg Robertson January 28, 2026 Duration: 1:15:35

The Industry Relations Podcast is now available on your favorite podcast player!

Overview

Rob and Greg are joined by Jack Miller (President & CEO of T3 Sixty) for a wide-ranging discussion on the SP 200, changes to T3's ranking methodology, brokerage business models, agent economics, consolidation, and the future of the MLS as a comprehensive marketplace.

Key Takeaways

  • SP 200 methodology update: Rankings now factor in future impact, not just past performance, leading to notable shifts in the Top 10.

  • Agent economics by model: Traditional brokerages show higher average agent income, while fee-based and capped models emphasize unit economics.

  • Brokerage costs: The critical metric is cost per transaction and cost per agent—not just GAAP net income.

  • Teams vs. platforms: High-producing agents increasingly partner with platforms (Compass, Place, Side) instead of building large internal teams.

  • MLS under pressure: Preserving a comprehensive marketplace is the key challenge as private and delayed listings increase.

  • Consolidation continues: Industry consolidation is ongoing, but not near an end-state oligopoly.

  • Portals vs. brokerages: Compass and Zillow are shaping industry direction in different ways, with contrasting strengths and strategies.

Links

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Industry Relations is a weekly conversation hosted by Rob Hahn, also known as The Notorious ROB, and Greg Robertson. It operates at a unique crossroads, examining where the business of real estate collides with and is reshaped by new technology. This isn't a surface-level tech review; the discussion comes from an insider's perspective, built on years of direct experience within the field. Each episode delves into the practical implications of software platforms, shifting market data, and emerging business models that are actively changing how properties are bought, sold, and managed. The hosts analyze trends, debate strategies, and often challenge conventional wisdom, providing a nuanced look at the forces driving change. Listening to this podcast offers a deeper understanding of the operational and entrepreneurial challenges faced by professionals navigating this evolving landscape. You'll hear specific case studies, evaluations of new tools, and forward-looking predictions about what's next for the industry. The tone is direct and informed, reflecting the hosts' deep background, making it essential for anyone invested in the future of real estate as a business. Tune in for thoughtful, weekly analysis that goes beyond the headlines.
Author: Language: English Episodes: 100

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