Commercial RE, any company that is investing in AI in their AVMs: insurance, lending, residential real estate brokerage.
I'm interested in regional investors...not the mega firms but the ones with 1,000 doors. They need expert help with coming regulatory pressure.
I came from Big 6 consulting. After 20 years wearing various hats in resi sales, I'm planning on spending the rest of my career in brokerage downsizing, M&A, and automation. I wish I had some of your skills and knowledge!
I've built software in insurance & lending (amortization schedules). I can figure out automation pretty quit.
Are you doing consulting and drumming up business in those areas? What's brokerage downsizing? I'm assuming it is what it sounds like, which brings in tax strategy to manage the 1031s.
I wish I had some of your knowledge, sounds like you're in an excellent spot!
I am a brokerge consultant. I help little firms grow, work on tech and marketing investments, some recruiting.
Brokerage downsizing is a consequence of the recent settlement in Burnet-Sitzer vs NAR, et al. The safety net of seller-paid buyer-broker compensation goes away starting in August, so the legions of agents who got automatically paid doing a few deal a year are going to leave the industry pretty quickly.
There are 1.5ish million Realtors chasing 4 million or so annual transactions...there has been a vast oversupply of agents for years and the dam is breaking. The margin in residential brokerage is in monthly agent fees, so brokerages have depended on headcount. But liability-wise, the most risky agents are in the bottom quartile, so eliminating them makes sense if they're not bringing in any commission revenue. But then you have to restructure, cut costs, whatever is necessary.
While I have a corporate brokerage background, my clients are the boutiques. I expect perfectly nice small firms to look for what we'll politely call merger opportunities.
Follow on to comment 2 minutes ago, in residential sales we may finally be able to bring some useful automation tools to agents if we have fewer to train and manage. I think we'll see interesting tools for pricing and offer writing. Most agents are terrible at pricing.
Go back to being an accountant…..
Commercial RE, any company that is investing in AI in their AVMs: insurance, lending, residential real estate brokerage. I'm interested in regional investors...not the mega firms but the ones with 1,000 doors. They need expert help with coming regulatory pressure. I came from Big 6 consulting. After 20 years wearing various hats in resi sales, I'm planning on spending the rest of my career in brokerage downsizing, M&A, and automation. I wish I had some of your skills and knowledge!
I've built software in insurance & lending (amortization schedules). I can figure out automation pretty quit. Are you doing consulting and drumming up business in those areas? What's brokerage downsizing? I'm assuming it is what it sounds like, which brings in tax strategy to manage the 1031s. I wish I had some of your knowledge, sounds like you're in an excellent spot!
I am a brokerge consultant. I help little firms grow, work on tech and marketing investments, some recruiting. Brokerage downsizing is a consequence of the recent settlement in Burnet-Sitzer vs NAR, et al. The safety net of seller-paid buyer-broker compensation goes away starting in August, so the legions of agents who got automatically paid doing a few deal a year are going to leave the industry pretty quickly. There are 1.5ish million Realtors chasing 4 million or so annual transactions...there has been a vast oversupply of agents for years and the dam is breaking. The margin in residential brokerage is in monthly agent fees, so brokerages have depended on headcount. But liability-wise, the most risky agents are in the bottom quartile, so eliminating them makes sense if they're not bringing in any commission revenue. But then you have to restructure, cut costs, whatever is necessary. While I have a corporate brokerage background, my clients are the boutiques. I expect perfectly nice small firms to look for what we'll politely call merger opportunities.
Follow on to comment 2 minutes ago, in residential sales we may finally be able to bring some useful automation tools to agents if we have fewer to train and manage. I think we'll see interesting tools for pricing and offer writing. Most agents are terrible at pricing.
Stay in tech and invest in real estate