Power Brokers: As Competition Heats Up, Dollars Go to Growth
According to RISMedia’s 2019 Power Broker Report, 59 percent of Power Brokers have a “cautiously optimistic” outlook—an increase from 52 percent in 2018, and driven by economic uncertainty.
With confidence levels shifting, they are leaning into two primary strategies: Expansion through mergers and new offices, and recruitment.
“As the market shifts from a seller’s market to a buyer’s market, this creates tremendous opportunities for well-qualified buyers. The same can be said for brokerages and brands, who will find a greater inventory of companies to acquire.” – Simon Chen, CEO/President, ERA Real Estate
“Our growth plan involves a two-pronged approach: growing organically…and simultaneously merging in like-minded, like-cultured companies and top teams to complement our existing geographic footprint.” – Todd Hetherington, CEO of CENTURY 21 New Millennium
Read more broker insights on growth and recruitment from RISMedia’s 31st Annual Power Broker Report on RISMedia.com