Results in each curated set are provided with most recent entries first.
In January, T3 Sixty spearheaded a new nonprofit to improve diversity in real estate. The Real Estate Apprentice Foundation is designed as an industrywide effort, and we hope that brokerages, associations, MLSs, and vendors from across the country will support the Foundation to make the residential real estate brokerage industry more diverse and representative. In the 2021 Swanepoel Trends Report, Trend 3 examines diversity only as it relates to race, and only in the residential real estate industry. Real estate offers so many opportunities to so many, yet homeownership and real estate careers remain racially unrepresented. Listen to the audiobook here.
The 2021 Swanepoel Trends Report brings with it insightful new content and in new formats. 2020 will go down as one of the strangest years in American history. An unprecedented global pandemic, a deeply divided US presidential election, locust swarms, rampant wildfires, a record number of hurricanes, and social and racial unrest all flared up this year, rocking the globe and the United States. But the residential real estate industry proved amazingly resilient thanks to the lowest mortgage rates in 50 years and the changing needs of homebuyers. Hunkered down in their homes like most of America when COVID-19 erupted in the US in late March, brokers and agents accelerated the use of technology on all levels. Zoom calls rapidly became the norm. Take a deep dive into the new trends fueled by the changing economy and the changing times.
The release of the 2021 Swanepoel Trends Report is coming! Before it arrives, read up on the Trends from the 2020 Swanepoel Trends Report. In this report, 2020’s message is equally straightforward: “Transformation has arrived, disruption surrounds us. The time for bold, clear action is now.” Revisit some of the most prominent trends of the year including data security, MLS in Jeopardy, the Diminishing Financial Viability of Traditional brokerages, or even the iBuyer Revolution.
One thing is clear: The traditional, commission-driven residential real estate brokerage model is being squeezed on all sides. A closer look at the financials and profitability of this model reveals it is under major financial pressure. As commission splits rise in favor of agents and teams, and the commission rates consumers pay continue to compress, brokerages are left in a tightening vice. Given that these are a traditional residential real estate broker’s two primary revenue channels, these firms must redefine their businesses to address their shrinking bottom lines.
The largest transformations in real estate today — streamlined search, simplified, speedier transactions, and artificial intelligence — are driven by a similar class of businesses: the venture-backed startup. Entrepreneurs with millions of dollars in their arsenal are testing new and often disruptive business models in every layer of the industry. Venture capitalists are giving the real estate industry an unprecedented amount of attention and investment.