Context with Mike DelPrete
Scott Wright: Industry Consolidation
Sep 27, 2023
Scott Wright, industry consultant specializing in brokerage valuations and data analysis, discusses the good time to be in the brokerage business, the golden age of acquisitions, industry and agent consolidation, margin compression, cost-cutting trends, and the importance of strong leadership.
31:57
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Quick takeaways
- Experienced brokerage firms that have weathered previous downturns are well-positioned to thrive in the current challenging market and capitalize on opportunities for growth through market consolidation and acquisitions.
- Successful brokerage firms in the current landscape prioritize nimbleness, adaptability, strong leadership, exceptional culture, effective financial management, and cutting unnecessary expenses while also paying attention to agent productivity and the value received from vendors and technology investments in order to maintain profitability and navigate industry consolidation.
Deep dives
The Role of Real Trends Consulting in the Brokerage Space
Real Trends Consulting, led by Scott Wright and Steve Murray, primarily focuses on consulting, valuations, mergers and acquisitions, publishing, and research in the residential real estate brokerage space. They provide various operational and financial metrics to their clients to help them evaluate their performance and compare it to their peers in the industry. They also have access to a vast amount of privileged information and data on brokerage financials, which they use for internal consulting purposes.
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