Three things that I believe will happen in our industry in 2023.
Today, I’m here to discuss my predictions for the real estate industry in 2023. We all know that 2022 was a crazy year—it’s probably going to go down as one of the biggest years of adjustment. Things are changing, so here are my predictions about what is to come in 2023:
- A lot of consolidation will take place. By this, I mean that there are going to be fewer agents and companies in the industry. I believe that we’ll see some smaller companies join larger ones because having a brokerage with just a few people isn’t going to be cost-effective. I believe we’ll see consolidation with smaller teams joining bigger ones that have more resources, leverage, and scalability.
“The industry will continue adjusting in 2023.” - Teams will get smaller. There has been a wave of growth in the last few years, but now groups will choose to cut. People will see that they’re not making as much money as they thought, so they’ll choose to focus on fewer people.
- Brokerages will help provide leads. I believe that brokerages will have to start experimenting more and diving into providing leads for agents. We have a concept on this that I would be happy to share with you if you’re interested.
Those are my three predictions for what will happen in the real estate industry in 2023. If you have any questions or comments, I would love to hear from you! Call or email me anytime.
