On April 29, 2022, I will have been in real estate for two decades. In that time, from newbie licensed agent to the founder and chairman of one of the nation’s largest and fastest-growing brokerages, I’ve seen significant innovations in real estate, ones that have deeply benefited agents and consumers, and transformed the way we shop, buy and sell homes.
Watching technology progress from dial-up internet — exciting at the time, but painful when I think about it — to artificial intelligence taking over a huge swath of the business is exhilarating if not a bit scary depending on how you look at it. But, repeatedly, I’ve seen that those who harness the possibilities succeed while those who resisted fell behind. We face that same choice now, with the industry changing at a blazing pace.
The rapid innovation the industry has seen over the last several years and which will surely continue in the near future, is foundational, and will shape the course for the following decade and longer. Leaps forward in funding, technology and professional and consumer behaviors have catapulted the industry into a new stage, one with a different competitive framework and a large number of major players vying for dominance.
We all need to think faster, move quicker and make smarter decisions, quicker. In 2022, this will be more important than ever before as companies with serious scale, resources and technological know-how play to win big. Realogy, HomeServices of America, Keller Williams and RE/MAX are already industry giants while innovators eXp Realty, Redfin and Compass, and non-traditional players Zillow Group, Opendoor and CoStar Group present compelling offerings for brokerages, agents and consumers.
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