Fix for broken brokerage model is within industry’s grasp

Broker as investor: Tearing down the old business model

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Editor's note: This is the second of a four-part series on a new model for real estate brokerages, in which brokers would invest in their agents. Read Part 1. Renwick Congdon will explore his vision at Real Estate Connect San Francisco, during a Thursday, July 11 panel discussion, "Broker as Investor: Tearing Down the Old Broker/Agent Relationship." Also participating in the panel will be Kevin Lisota, CEO, findwell; Debbie Lewandowski, director, First Team Estates; and Brian Boero, partner, 1000watt (@1000wattbrian). The system is broken and someone is going to fix it. The question is, who? Zillow? Trulia? Google? Or will the solution come from within the industry? When we recently surveyed top real estate executives about their biggest business challenges, “not attracting enough younger agents” far and away ranked No. 1. The problem, as I see it, is that the industry has fallen into the economic trap known as “the tragedy of the commons” -- individuals acting acco...