{"id":2842,"date":"2022-02-11T01:42:39","date_gmt":"2022-02-11T01:42:39","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2022\/02\/11\/latest-better-exit-its-the-head-of-real-estate\/"},"modified":"2025-03-13T02:40:17","modified_gmt":"2025-03-13T02:40:17","slug":"latest-better-exit-its-the-head-of-real-estate","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2022\/02\/11\/latest-better-exit-its-the-head-of-real-estate\/","title":{"rendered":"Latest Better exit? It’s the head of real estate"},"content":{"rendered":"\n

Back in August, Christian Wallace spoke effusively<\/a> about her future at Better.com<\/strong>. The digital lender generated so much money through mortgage refinancing that it bankrolled a formidable real estate division. And Wallace, a former Sotheby’s<\/strong> agent and Opendoor<\/strong> manager, was charged with ensuring the division blossomed. <\/p>\n\n\n\n

But on Thursday, Wallace<\/a> said that she gave Better her three-weeks notice of resignation. Wallace worked at Better for less than two years, and served as head of real estate services since March. In a phone interview, Wallace faulted company culture, while declining to go into details.<\/p>\n\n\n\n

Wallace’s imminent departure follows reports last week<\/a> that Sarah Pierce, the executive vice president of customer experience, and Emanuel Santa-Danato, senior vice president of capital markets and growth, are no longer with the New York City-based outfit. <\/p>\n\n\n\n

And those reported departures come after three top communications executives departed in December.<\/p>\n\n\n\n

The exodus would appear to center around the leadership of Vishal Garg, Better.com’s<\/strong> founder and CEO. Garg took a leave of absence in December after he laid off 900 people, or about 15% of the workforce, in a dystopian<\/a> Zoom<\/strong> call. However, the company’s board of directors has since reinstated<\/a> Garg.<\/p>\n\n\n\n

Messages left with Better on Thursday were not returned. The company still plans to go public through a special purpose acquisition company, Aurora Acquisition Corp.<\/strong> <\/p>\n\n\n\n

Wallace was put in charge of a fairly novel business model, a real estate arm in which agents are paid almost entirely on salary and monthly bonuses, instead of sales commissions. Among major real estate brokerages today, only Redfin<\/strong> classifies its agents as employees, and even Redfin agents mostly make money from sales bonuses. <\/p>\n\n\n\n

Better has recruited hundreds of agents and expanded into 30 states, Wallace said. But the outgoing real estate head also acknowledged the company has dealt with significant agent attrition. <\/p>\n\n\n\n

Wallace has split time the past year between New York and her home city of Dallas, she said, and is not certain of her next professional move. <\/p>\n","protected":false},"excerpt":{"rendered":"

The exodus at Better.com continues. Christian Wallace, the head of real estate, put in her resignation. She faulted company culture but declined to elaborate.<\/p>\n","protected":false},"author":16592,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[736],"class_list":["post-2842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nLatest Better exit? It's the head of real estate - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"The exodus at Better.com continues. Christian Wallace, the head of real estate, put in her resignation. 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