What do you see as the biggest long- term threat to your business?

The evolution of which service model will best fit the future market. Things are in flux and there is an opportunity to lead the way. The question is can we change deeply and fully enough? As Clayton Christensen laid out in his classic book, The Innovators Dilemma, we are working not to get stuck in the incumbency […]

Where do you think newer models have an edge? What are you doing about them?

That is hard to tell. Two developments have spawned new models – marketing efficiency and the shift in broker, agent value propositions. Technology has made marketing most properties – even multi-million dollar ones — incredibly efficient. Marketing a home may soon take two or three clicks and a text request to a good photographer. Although technology forms the base […]

How are you outperforming newer brokerage business models?

We are constantly evolving our business model, we operate different models, some with intense marketing and branding support using a more traditional agent-compensation model and others with agent desk fees and a la carte services. For example, we have had a virtual brokerage offering for a decade. Our agents have physical offices they can use, but they […]

What keeps you up at night as a brokerage leader?

Figuring out where the agent service mix will land. We are fairly certain that fees consumers pay will drift down because of efficiencies. We think that marketing homes will improve, and those costs will go down and the compensation brokerages pay to agents will go up. We are not sure whether the eventual successful business model will […]

What are the biggest changes to your brokerage you have on the books for 2019? Why?

We are large and a bit too decentralized now. We are centralizing more operations to provide more consistent service with higher-quality staff and coaching for our agents. We want to go beyond traditional coaching, which centers on accountability and systems, to a more holistic service with personal branding, marketing, technology and client-relationship coaching.

What are the chief industry changes that affect your brokerage today?

Longer-term, our consumer value proposition is changing. In our case, that centers on the speed of the transaction. Technology removes friction and transactions are becoming faster and easier to do. In the past, agents could rest on relationships – they really only had to fear another agent cold-calling one of their past clients. In today’s […]