Traditional brokerages got 99 problems. They’ve got to compete with iBuyers. They’ve got to compete with 100% commission models. They’ve got to innovate new products and services. They’ve got to figure out a way to make money off those products and services. And they’ve got to worry about potential industry regulations and the insane amount of capital flowing in to would-be disruptors. So, what can brokerages do to address the fundamental flaws in the traditional model—and survive the next five years?
Today, Rob and Greg are discussing the top issues traditional brokerages face and what they can do about it. They address the implications around Compass’ renewed focus on product and Wall Street analyst John Campbell’s comments regarding the tipping point Realogy and other traditional brokerages face.
Rob and Greg weigh in on the fact that brokerages LOSE money on top producers and the challenge of monetizing products and services for agents. Listen in for insight around the future of traditional models like that of Realogy and RE/MAX and learn how agents and brokerages might adapt to the disruptions facing the real estate industry.
What’s Discussed:
The public interest argument for representing the buyer’s side
The implications around Compass’ renewed focus on product
John Campbell’s comments on the tipping point Realogy faces
The issues around productivity in a traditional brokerage model
Why brokers need to make money through products + services
How brokerage iBuyer initiatives are really listing lead programs
Why Upstream doesn’t address the problems brokers face now
The fundamental flaws in the traditional brokerage model
The future of Realogy, RE/MAX, Redfin, eXp and Home Services
What agents might do in a world with 60% iBuyer market share
Connect with Rob and Greg:
Resources:
Gradually … Then, Suddenly! Podcast
The Tom Ferry Podcast Experience
Glenn Kelman on Scratch That EP010
‘Is a Compass IPO Coming Soon?’ in Inman
John Campbell’s Comments in MarketWatch
