In this edition of RealTrending, Steve Murray, senior advisor to RealTrends, offers insight on the ever-increasing real estate brokerage competition and how to solidify your position.
Here is a small preview of today’s RealTrending interview. The transcript below has been lightly edited for length and clarity:
Brokerage Competition: RealTrends collects a lot of data on performance of teams, agents and brokers that goes back years. Several private equity or venture-capped entities with backing in the hundreds of millions of dollars are considering the path to success through partnerships with brokerage companies and teams or acquisition of the same.
Many of them come from strong financial and technology backgrounds. This is an alert to everyone: If you think brokerage competition has been tough, confusing and distracting over the last year to two given everything we’ve have dealt with business-wise. It’s not going to get any easier in the months and years ahead. But, you can do something about it.
COVID-19: Without getting into arguments about your personal view of this, it’s a fact that the virus is spreading again, and we’re seeing mask mandates and virtual meetings once again. While that’s a tragedy and we wished it were otherwise, it creates that opportunity once again for all leaders to understand that the outstanding performance of your companies after April 2020 was, in addition to the market, because leaders and leadership teams got in front of their people more frequently than they ever had in the past.
RealTrending features insight into the brokerage industry. Twice a month, Steve Murray, senior advisor to RealTrends, shares trends he’s seeing and conversations he’s having with real estate brokers and affiliated industries. Hosted by Steve Murray and produced by Elissa Branch.