Steve Murray on how agents stand out in a segmented market
Today’s HousingWire Daily features a crossover episode with RealTrends’ podcast RealTrending, which showcases the brightest minds in real estate and the housing market. In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses the increased amount of competition among productive agents due to market segmentation.
Murray also discusses brokerage culture and shares an update on the mergers and valuations market.
Here is a preview of the topics Murray discussed. The transcript below has been lightly edited for length and clarity:
Steve Murray: What do we mean by segmentation in the brokerage industry? It used to be that the segmentation was that brokers had a graduated commission plan, traditional independent, or you were a graduated commission plan franchise, or you were a 100% commission concept franchise or 100% commission plan, flat-fee independent.
Now, agents have eight to 10 brokerage models from which to choose. That means more competition to recruit productive agents. And, it requires a clear value proposition from the brokerage.
So, the market is segmenting as never before. And what this requires out of brokerage companies is not to get caught in the middle without clear differentiation in what you’re offering. It must be clear. It must be distinct. You’d much rather be a Walmart or an Amazon, or on the other hand, a Nordstrom, or a Tiffany’s, than be a Sears or a JCPenney’s.
HousingWire Daily examines the most compelling articles reported across HW Media. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Elissa Branch. If you have a pitch or an inquiry relating to podcasts, you can reach our team at firstname.lastname@example.org