Small brokers around the country recently shared their secrets, from learning a foreign language to finding a niche or specialty, on how to compete with the larger resources and national presence of big companies and franchises.
In three years as the owner of some of real estate's biggest brands, Cendant has subtly altered the real estate landscape. But more fundamental changes may be afoot as the company drives toward a new business model for making money in residential real estate.
Coldwell Banker sues a California manager who jumped ship from an acquired brokerage, leading many of his former salespeople to a competing company. The case has implications for brokers with employment contracts.
The Counselors of Real Estate are once again defending against a challenge to the CRE® trademark. The case is against General Electric Capital Corp., which uses "CRE Net" on its Web site to provide users of the Internet with access to real estate-related information.
In this piece, we provide two outlooks for the future of brokerages. One gives an overview of the consolidations, mergers, and acquisitions that are shaping the industry of tomorrow and how independents compete. The other examines the effects of shrinking profits--and how brokers are trying to produce a turnabout by reducing overhead and finding new revenue sources.
For Peter Burgdorff, 1996 was a stellar year. Profits were never higher. Business was exceptionally brisk. Yet 1996 was also the year Burgdorff crossed over to the other side after many years as the owner of an independent real estate company. He joined a franchise.
Together they've produced nearly $100 billion in real estate sales in 1996 alone. You may have known them as the Dozen and the Masterminds. But after nearly a year of negotiations, the nation's two oldest real estate think tanks have merged into a single entity with a new name: the Realty Alliance.
With his no-nonsense style and straight talk, Booth says it's his priority to build trust and confidence in the volunteer leadership of the NATIONAL ASSOCIATION OF REALTORS® among state and local associations during his presidency.