Real estate brokerages can survive, but only if they seriously invest in the mortgage.
That’s what members of a panel on the evolution of real estate brokerage said at HousingWire Annual in Frisco, Texas on Tuesday.
Today, the value of a single mortgage arrangement is that of 10 real estate sales, said Chris Kelly, President and CEO of Ebby Halliday Enterprises.
âIt is increasingly important for agents to align with a business model that includes brokerage,â Kelly said.
Ebby Halliday, headquartered in Plano, Texas, is a subsidiary of the powerful HomeServices of America, the most prolific real estate brokerage in the country by number of sales in 2020, according to RealTrends.
But Kelly made it clear that the only way HomeServices can make any money is through a mortgage and, to a lesser extent, through the provision of title insurance.