The rapid innovation the industry has seen over the last several years and which will surely continue in the near future is foundational and will shape the course for the following decade and longer. Leaps forward in funding, technology, and professional and consumer behaviors have catapulted the industry into a new stage, one with a different competitive framework and a large number of major players vying for dominance.
We all need to think faster, move quicker and make smarter decisions, quicker. In 2022, this will be more important than ever before as companies with serious scale, resources, and technological know-how play to win big. Realogy, HomeServices of America, Keller Williams, and RE/MAX are already industry giants while innovators eXp Realty, Redfin and Compass, and non-traditional players Zillow Group, Opendoor, and CoStar Group present compelling offerings for brokerages, agents, and consumers.
Backed by significant private equity investment, all key parts of the industry are consolidating, with market share concentrating into the hands of a handful of powerful players.
Understanding the trends and the impact they will have on your business is more important now than in any time since the turn of the century, two decades ago. This shift offers us all an exceptional opportunity to participate in the largest entrepreneurial business reengineering anywhere in the US. Seize the innovation.