October 4, 2022
Q4 2022 & The Chess Board
The 4th quarter of 2022 is off and running. I am seeing new distinct behaviors in the residential real estate market. The first are those companies and real estate professionals that have a vision, are out to gain market share, enhance their position and grow through the current noise and adversity.
The second type are those concerned and bracing for hard times, retreating, or awaiting better market dynamics. The images below best describe the two approaches.
Visibility through Adversity
Brace for Hard Times
I recently led several planning sessions with companies and real estate professionals sharpening their vision to start 2023 with exceptional momentum. Here are a few of the highlights:
Real estate professionals, for the first time in a decade, are focused on the platform or company that can help them grow their business versus an additional 3 to 5 percent split. One such professional, was seeking advice on an offer to increase her split 3 to 5 percent. I asked her one question: “What about picking a firm that could contribute to doubling your business?”
She prepared four questions for the brands she was considering. Based on the answers, the best platform or company for her goals was the brand she currently worked with. She simply decided to engage the existing platform, stay where she was on her existing split, and focus on doubling her production.
Real estate boutiques are again empowered and becoming the desired home for real estate professionals seeking to distinguish themselves in the market versus the overpopulated large national firms. The agility of the boutique, the attentiveness of the leadership team and the sense of community they deliver is powering the rise of the boutique.
The mergers & acquisitions environment is pairing small-to-medium local firms with emerging regional and national players. Buyers with intense respect and emphasis on the local people are resonating with sellers. Look for Q4 closings and an active early 2023.
It’s a fascinating chess game that will deliver significant changes. Kings and queens are engaged, the match clock has started, and the chess board will look different in 2023.
What is your next move?
This is Where We Are Now!
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