Being with a luxury brokerage means having access to data driven reports. Each of the sections offers some sharp insight, my favorite being Changing tack: Five key trends shaping future investment decisions, which starts on page 42 of the report.
The subject line comes from a solid article on the future of brokerages in Forbes (link below). It’s definitely worth the read, but for those like me with short attention spans, this paragraph is the main takeaway:
Bigger, tech-heavy firms will need significant capital to advertise and purchase data and acquire staff. It is a volume game. This model will be ideal for clients who are self-reliant and cost-conscious. These firms can charge and pay lower commissions because a seasoned agent is not necessary.
On the flip side, smaller, boutique brokerages will find their niche with those clients in the very high end of the market who demand expert service, or those clients with more complicated deals.
It will also be the choice for people who simply feel more comfortable working with a seasoned professional. Brokerage owners will be able to charge higher commissions for their services, but they will be paying higher commissions as well to retain top agents.
For the full article click here.