Steve Capezza, president at Side and former SVP at Zillow, discusses brokerage learnings, agent power, picking a funnel, leadership, Side's growth, the future of brokerage, and impactful tech in real estate.
Setting up a brokerage involves complex operational processes and compliance requirements, highlighting the challenges faced by brokerage companies.
Building tight-knit networks within the real estate industry is crucial for top-performing agents, as these networks impact how offers are presented, listings are earned, and information is shared among agents.
Deep dives
The Complexity of Brokerage Operations
One main insight discussed in the podcast is the complexity involved in setting up a brokerage. The speaker emphasizes that operationalizing transaction creation, commissions disbursements, compliance, and liability for agents and consumers require extensive effort. This complexity is not widely known among those outside the real estate space and highlights the challenges faced by brokerage companies.
The Power of Agent Networks
Another key point raised in the episode is the significance of tightly formed networks within the real estate industry. The speaker mentions that top performing real estate professionals excel in building networks within their community. These networks impact how offers are presented, how listings are earned, and the order in which agents receive information. The listener is made aware of the powerful influence and importance of agent-to-agent networking in the industry.
The Future of Brokerage and the Role of Technology
The podcast delves into the future of the brokerage industry, discussing how the current mix of real estate agents, where half are hobbyists and half are top producers, may undergo a transformation. The speaker suggests that brokerages will increasingly focus on partnering with the top professionals and team leaders in the industry, who will help build highly productive and collaborative organizations. Additionally, the impact of technology is highlighted, with the speaker referencing the iPhone's groundbreaking influence on real estate communication and how platforms like Zillow's home value estimation tool have transformed consumer expectations.
Steve “Capz” Capezza, president at Side and former SVP at Zillow, and I discuss brokerage learnings, the inertia of community, agent power, picking a funnel, full-contact leadership, what’s fueling Side’s best year, the future of brokerage, and the most impactful piece of tech in real estate.
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