The brokerage industry is trying to re-invent itself while maintaining and resurrecting old business models that continue to suck out capital, energy and the ability to move into the third wave.
There have been three distinct waves in the evolution of the real estate brokerage industry.
The first wave was traditional brokerage enhanced by franchise development. This is the model that lacks the versatility and agility to adapt quickly to market demands and is sometimes steeped so deeply in the operating traditions of the past that any thought of re-invention is out of the question.
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