Franchisees attending the 2017 Family Reunion heard CEO Chris Heller announce …
“Keller Williams envisions a world where every one of our agents has ALL the data about their customers, their prospects and their business in ONE place” and that “This is accomplished through the creation of a single platform that allows agents to effortlessly run their business.”
More franchisers are choosing the technology route to real estate brokerage after watching Compass achieve $1 billion valuation with 26 offices nationwide and less than 400 brokers on staff.
How long will Agents trust their livelihoods to franchisers like Keller Williams before their technology plays put them out of business?
In yet another move to advance their Premier Agent business, Zillow will no longer allow listings to be manually uploaded to their sites.
Zillow announced this move was made in order to “provide agents and brokers with a simple way to market their listings”.
The change goes into effect May 1st 2017 and is consistent with Zillow Group’s CEO Spencer Rascoff’s remarks to Wall Street.
Is this move intended to “weed out” underperforming Agents, especially since Multiple Listing Services will continue to feed listings to Zillow?
Numerous business models exist in real estate brokerage but none have seen more success than Real Estate Teams in the last 10 years.
Real Estate Teams, while common in boutique brokerage operations, are becoming the norm in larger brokerage firms.
They’re usually formed by top producers who use sales associates to handle specific areas of the marketing and sales process.
As successful as this approach has been, recent consumer trends show the team model could be vulnerable to new networks and technology.
How will the Real Estate Team business model survive Virtual Reality, Facebook Live and Consumer Ratings?
Executives and consultants attending a panel discussion at Inman Next in NYC agreed that 12 Multiple Listing Services is the most that should be operating nationwide.
Borrowing from the Federal Reserve System structure, creating a regional MLS system would make data sharing easy and reciprocal business agreements uniform..
But an industry already bowing to pressures from Zillow might be too late in their efforts to preserve and protect their way of doing business.
Can the MLS remain vital in the face of Zillow’s Premier Agent business model?
Only 62.9% of Americans between the ages 25 to 64 own their home.
It is the lowest percentage of home ownership in the United States since 1965 and economist believe Americans feel burdened by an enormous amount of unsecured personal debt (i.e., credit cards, auto loans and student loans).
Is New York’s real estate economy vulnerable to this national trend or are we insulated because of the global appeal the City has?
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