The PPW Podcast

About The PPW Podcast

The Online Marketplaces team delve into the online real estate marketplace industry as well as the broader world of PropTech surrounding it. We bring you news, views and interviews from the industry as well as our own team's analysis of current events and trends.

Publisher

Online Marketplaces Group

Category

business

Language

en

Explicit

No

First episode

19 Jan 2024

Latest episode

23 Oct 2026

Latest episodes

161 episodes in the feed.

1. 

   23 Oct 2026

   News Roundup 23/10/26: Hemnet Q3, Compass Sues CRMLS & Zillow Comes to Claude

   In our last news roundup before PPW Madrid, Hemnet's shares jump despite falling numbers, Compass sues California's biggest MLS, Zillow launches inside Claude, HouseCanary adds a brokerage to Google's listings program while in Chapter 11, and Jitty tests paid reports for home buyers. Chapters: 00:00 Intro 01:20 Hemnet Q3: Numbers Down, Shares Up 03:09 The Inside Game And The Outside Game 07:48 Compass Sues CRMLS 10:42 MLS vs Broker: Who Controls The Listings? 13:36 Zillow Launches A Claude Integration 14:51 Ed Tests Zillow In Claude 17:41 Simon's Live Test 23:40 Can A Portal Be A Trusted Companion? 28:08 PPW Madrid 2026 29:37 HouseCanary, Google Listings And Side 32:41 Who Is Paying Who? 36:10 Is HouseCanary A Threat To Portals? 38:10 Jitty Tests Paid Home Buyer Reports 43:10 Will Buyers Pay For Property Reports? 47:37 Wrap Hemnet Q3: Numbers Down, Shares Up Hemnet's last results before its switch to a sell now, pay later model show paid listings down 30%, published listings down 13% and operating profit down around 30% year on year. Yet it beat consensus on its profit measures and the share price jumped around 10%. Simon explains the two games every listed portal plays: the internal game of operations and metrics, and the external game of managing market expectations. Compass Sues CRMLS Compass is suing CRMLS, the second largest MLS in the US, over rules that fine agents up to $2,500 per violation for marketing a home publicly outside the MLS, even when the seller instructed it. Compass says it will pay any fines its agents receive. Simon boils it down: this is an arm wrestle over who controls the listings, and so who holds the power. Zillow Comes To Claude Zillow's new Claude integration brings listings, maps, home value estimates and affordability tools into the conversation, using Zillow's own MLS-approved listing display. Ed reran the difficult queries from his January test of portal integrations in ChatGPT and found this one adds real value, admitting what Zillow's filters can't do and flagging likely busts. Simon tests it live, finds the connection step clunky, and argues that AI will be a companion in the home search, not a replacement for it, with trust as the portal's biggest asset. HouseCanary And Google Listings A year after Google started showing real estate listings in search via HouseCanary, the brokerage Side has joined the program, adding listings from its 600 partners in 19 states. HouseCanary is meanwhile operating under Chapter 11 bankruptcy protection. Simon thinks it is playing an arbitrage game between listing sources and Google, and doubts the model is defensible. Jitty Tests Paid Reports AI portal Jitty is piloting £5.99 home buyer reports covering comparable sales, property condition from photo and floor plan analysis, planning history and likely extra costs. Simon explains why, in his experience, consumers rarely pay for property reports in volume, and why one-off sales make the consumer hard to monetise. The PPW Conference is in Madrid from 28 to 30 October. Get your tickets at ppweurope.com. Presented by: • Edmund Keith: https://www.linkedin.com/in/edmund-keith/ (https://www.linkedin.com/in/edmund-keith/) • Harvey Hancock: https://www.linkedin.com/in/harvey-hancock/ (https://www.linkedin.com/in/harvey-hancock/) • Simon Baker: https://www.linkedin.com/in/stbaker/ (https://www.linkedin.com/in/stbaker/)

2. 

   16 Oct 2026

   News Roundup 16/10/26: Hemnet's 17x Price Hike, REA Shorted & PPW Madrid Countdown

   In this week's news roundup, we dig into Hemnet's 16.8x price rise over a decade and what it has cost the Swedish portal, ask whether vendor-paid advertising is really the advantage portals think it is, and look at why a Sydney hedge fund is shorting REA Group. Chapters: 00:00 Intro 01:31 Hemnet's Tough Year 03:23 Boiling The Frog: Hemnet's 16.8x Price Rise 05:04 Booli Overtakes Hemnet On Similarweb 11:29 How Hemnet Wins Back Hearts And Minds 14:21 Is Vendor-Paid Advertising Really An Advantage? 21:23 "If You're Strong, You Have To Be Nice" 24:40 Finding The Real Buyers 27:42 When Scout24 Doubled Its Prices Overnight 31:12 Hedge Fund Shorts REA Group 36:30 Should REA Hold Back On Price Rises In A Downturn? 42:00 PPW Madrid 2026 Boiling The Frog: Hemnet's Price Rises Hemnet's share price is down around 70% in a year, with a paused buyback, four directors leaving, an overhaul of its revenue model and redundancies. Ed's analysis on onlinemarketplaces.com finds Hemnet raised its price per listing 16.8x between 2015 and 2025, far ahead of Rightmove's price per advertiser and of house prices in Sweden or the UK. Meanwhile bank-owned aggregator Booli now beats Hemnet on Similarweb, with the caveat that Similarweb does not count app traffic, which makes up 70 to 75% of Hemnet's visits. Simon explains why every intermediary in a property deal is sharing the same pie, and what Hemnet needs to do to win back agents' hearts and minds. Is Vendor-Paid Advertising Really An Advantage? Ed tests a theory: agents grumble but absorb price rises because they need the leading portal to win instructions, while sellers have a breaking point. Simon explains how, once vendor-paid fees become a meaningful number, rival agents can pitch "list with me and save $10,000" by skipping the big portals, as some Australian agencies already do. Harvey asks how a listed portal balances shareholder demands with keeping agents on side, and Simon tells the story of Scout24 doubling its prices overnight around 2007, losing a quarter of its customers and winning them back over three months. Hedge Fund Shorts REA Group The Australian Financial Review reports that Sydney-based Bristlemoon Capital is shorting REA Group, betting the portal has underestimated the impact of a slowing Australian housing market. Simon explains why per-listing upgrade revenue leaves portals exposed to listing volumes and time on market, and what the downturn conversation in the REA boardroom looks like. The PPW Conference is in Madrid from 28 to 30 October, with Startup Day on 27 October. Get your tickets at ppweurope.com. Presented by: • Edmund Keith: https://www.linkedin.com/in/edmund-keith/ (https://www.linkedin.com/in/edmund-keith/) • Harvey Hancock: https://www.linkedin.com/in/harvey-hancock/ (https://www.linkedin.com/in/harvey-hancock/) • Simon Baker: https://www.linkedin.com/in/stbaker/ (https://www.linkedin.com/in/stbaker/)

3. 

   13 Oct 2026

   Why Phone Leads Still Win in the Age of AI with Ryan Gallagher, Founder & CEO at iovox

   Ryan Gallagher, Founder & CEO of iovox, joins Edmund Keith and Simon Baker to talk about what communications data really says about marketplace leads. He explains why swapping voicemail for AI agents took lead capture from 9% to 90%, why call volumes are rising rather than falling, and why a phone call is still the strongest signal of buyer intent. Also covered: the US Cloud Act and data sovereignty, why software is no longer a moat, and how emotion detection is changing call analysis. 00:00 Intro 01:42 What iovox does and who it works with 02:54 Only 47% of phone leads get answered: the stats that surprise 04:34 How fast AI calling has arrived 06:15 Data privacy, the US Cloud Act and the EU 13:26 Why iovox hosts and trains its own models 16:25 Software is dead: what counts as a moat now 18:59 Can AI replicate iovox? 22:21 AI agents for bookings and replacing voicemail 24:51 Whose problem is a missed lead: the portal or the agent? 29:14 When AI talks to AI 29:42 Are phone calls dying? Call volumes are up 25 to 30% 31:50 How phone leads convert versus email and text 33:07 LLMs and the consideration phase 40:01 Emotion detection versus sentiment analysis 42:57 Will AI replace salespeople? 43:40 A decade of iovox and what comes next Guest: • Ryan Gallagher, Founder & CEO at iovox: https://www.linkedin.com/in/ryangllghr/ (https://www.linkedin.com/in/ryangllghr/) Presented by: • Edmund Keith: https://www.linkedin.com/in/edmund-keith/ (https://www.linkedin.com/in/edmund-keith/) • Simon Baker: https://www.linkedin.com/in/stbaker/ (https://www.linkedin.com/in/stbaker/)

Who has been a guest on The PPW Podcast

Names identified in recent episode analyses. Showing up to five guests.

• Rory Golod
• Max Steinman
• Simon Bray
• Darius Cheung
• Bryan Wester

Reach and audience

Public platform figures. Ratings count people who left a rating, not total listeners.

Apple Podcasts (US)

4.5 / 5

2 ratings

Spotify

5.0 / 5

6 ratings

Podcast Authority Score: 46 / 100

A composite of feed quality, social presence, YouTube performance and engagement. Read the methodology.

Quality

64

Social presence

0

YouTube

0

Engagement

68

Contact The PPW Podcast

Guest appearances

Does not typically book guests

Based on episode analysis; this does not confirm that the show is currently accepting guests.

Shows with a similar audience

• 

  Dwarkesh Podcast

• 

  Cheeky Pint

• 

  a16z Podcast

• 

  Chanticleer

• 

  Lenny's Podcast: Product | Growth | Career

• 

  The Circuit

Questions about The PPW Podcast