Of the 10 largest real estate firms, eight are now publicly traded.”

What does that mean for our industry? It certainly means a lot more speculation over who’s running the show, something my friend Brad Inman addressed in his article earlier this month, “Is Wall Street Taking Over Real Estate?”

The debate over who owns and manages consumer and agent data, the depersonalization of our industry, and who the buyers and sellers see as invaluable in the transaction will wage on but I see one big difference that Brad pointed out: “CEOs come and go, but owners have more stake and more to lose.” 

This line hit close to home as I founded Realty ONE Group nearly 16 years ago and am still CEO of this company that is ONE of the fastest growing real estate franchisors today. In these other companies, numbers sometimes run the show and as a leader, if you don’t perform, someone else can take your place. 

It doesn’t escape me that I’m still very much responsible for the success of this company, our franchise owners and even, to an extent, our 15,000+ real estate professionals. And so I pour my heart and soul into it, taking great pride in every year we grow and expand. It’s a legacy I’m leaving for my family, but more importantly, it’s the change I wanted to make in this industry – a company with a YOU-first focus, disrupting for the good of everyONE in real estate.

Commission compression is real and not going away anytime soon. But our team knows that once the industry rebalances, our next-gen business model will experience accelerated growth as people grab on to what’s real and impassioned. Get ready for the ride.