In today’s RealTrending, RealTrends Senior Advisor Steve Murray and RealTrends Editorial Director Tracey Velt talk about the future of independent brokerages and offer analysis of the RealTrends 500 and Nation’s Best rankings.
Here’s a little preview of today’s interview with Steve Murray and Tracey Velt. The transcript below has been lightly edited for length and clarity:
Tracey Velt: With the leaderboard, did you find any surprises or anything that made you think?
Steve Murray: I was not very surprised that Compass became the largest in volume. I think it would happen sooner or later, given their growth rate. I was surprised it happened so quickly.
Even with EXP, I knew that ultimately, given the success of their model’s growth, that one day they would probably be the biggest on the deal side, but I didn’t realize how quickly they would rise in the top three brokerages in the country. That was part of my surprise.
If you look back, whether it’s five years ago or 10 years ago, you look at the number of companies that were nowhere near the top 10 and are now clearly in the top 10. I mean, among traditional businesses, look at the Howard Hanna organization. I mean, 10 years ago I doubt they were in the top 10, but they are clearly in the top 10 now. I think they are actually number five in transactions.
Additionally, you need to look at companies like United real estate, HomeSmartand breaststroke, and how quickly they grew and became quite large national enterprises. It’s surprises to me how quickly they got there.
RealTrending features the brightest minds in real estate. Twice a month, brokerage leaders, top agents, team leaders and industry experts share their secrets to success, trends and lessons learned in this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.