Today’s RealTrending podcast features Scott Wright, partner with RTC Consulting and co-author of the RealTrends Brokerage Benchmark 10-year Report, which specializes in real estate brokerage valuations, mergers and acquisitions and consulting.
Wright reveals some new benchmarking data that can help brokers manage operating expenses in today’s market. Plus, he reveals the three business activities that will make the biggest difference for success in the coming year. Hint: Brokers should be looking for local opportunities and walkovers. Plus, he discusses how real estate brokerage deal terms and valuations are changing.
Here is a small preview of today’s interview with Scott. The transcript below has been lightly edited for length and clarity:
Tracey Velt: Do you see this market as ripe for consolidation? I know that there’s a little bit of a lull right now.
Scott Wright: There is no doubt we’re facing significant headwinds in this market, especially on the M&A front. We’re in an environment where our interest rates have had significantly risen. We’ve got a lot of uncertainty within our own country’s economy and we’ve got some geopolitical pressures out there. We have seen a very subdued M&A market and it’s going to be very subdued for at least another year or so. And that’s going to be particularly on the macro scale. The large national and regional buyers who’ve really been aggressive over the recent years have kind of gone to the sidelines a little bit. The big boys are waiting to see how the dust settles before and if they come back in to determine how aggressive they’re going to be in acquisitions.
RealTrending features the brightest minds in real estate. Twice a month, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.
