The realtor population of 1.3 million agents today is expected to be cut in half over the next five years. Most will be by natural attrition – the old-style agent is retiring and being replaced by mega-teams. How the brokerages provide for their teams is what will determine the winners.
How can a relative newcomer take on Zillow, Redfin, and the traditional brokerages all at the same time? Spend big money on splashy moves to retain reputable top agents and supply them with a sleek high-tech marketing package that is fronted by a quality search portal. More coming soon!
Compass, a New York real estate brokerage firm, will buy San Francisco brokerage Pacific Union International less than two months after it purchased Paragon Real Estate Group, also of San Francisco.
Pacific Union is the nation’s fifth-largest residential real estate firm based on transaction volume and Compass is sixth, according to Real Trends, a Colorado consulting firm. Based on those numbers, the combined firm would leap to number three.