Real estate brokerages can survive, but only if they seriously invest in mortgage.
So said members of a panel Tuesday on the evolution of the real estate brokerage during HousingWire Annual in Frisco, Texas.
Today the value of a single mortgage origination is that of 10 real estate sales, said Chris Kelly, president and CEO of Ebby Halliday Companies.
“It is increasingly important for agents to align themselves with a business model that includes brokerage,” Kelly said.
The Plano, Texas-headquartered Ebby Halliday is a subsidiary of the mighty HomeServices of America, the most prolific real estate brokerage in the country by number of sales in 2020, according to RealTrends.
But Kelly made clear that the only way HomeServices can make money is through mortgage, and through a lesser extent, to providing title insurance.
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