The residential real estate brokerage industry plays a critical role in perhaps the most important, foundational element of our lives: Home.
Every day, real estate brokers and agents help consumers navigate the all-important tasks related to this American Dream. One element of the century-old structure upon which this dream operates the way real estate industry professionals are compensated is facing unprecedented scrutiny.
The industry’s engine, approximately $100 billion of brokerage compensation each year, faces a potential restructuring that could profoundly affect how homes are bought and sold and how agents earn their livings, and how brokerages, MLSs, and Realtor associations function.
These potential impacts will play out over the next several years. But the industry continues to change on an immense scale, fueled by the benefits of scale that recent technology developments and massive investments have made available.
MLSs are beginning to partner on innovative methods of collaboration that allow them to capture the immense bottom-line benefits of scale through sharing of data, revenue, technology, and marketing.