AgentBrokerage

The Keller Williams playbook for surviving real estate disruption

The franchisor announced a $1 billion technology fund to combat disruptive technologies
  • Disruption might be over-hyped in the real estate industry, but Redfin's valuation and investment into real estate technology should give brokerages pause about their future.
  • Keller Williams announced a $1 billion fund to help protect the franchisor against potential industry disruption.

SAN FRANCISCO -- With $1.75 million in two years, Uber "completely changed the rules of strangers, internet, vehicle safety and meeting people," noted Josh Team, Keller Williams' chief information officer, on stage at Inman Connect San Francisco. Josh Team This year, $3.5 billion will be invested in real estate technology. "The idea that disruption is amidst us is very real, and we need to understand how to close the consumer gap," he explained -- the gap between what consumers want and what the industry provides. If that gap isn't closed, it's a good bet that someone (sooner or later) is going to find a way to fill it. And that won't be good for the traditional real estate industry. Team announced that Keller Williams is taking steps to protect the agent and the brokerage, setting aside $1 billion for technology development in the near future and encouraging others in the industry -- franchise-based and independent brokers alike -- to follow their lead by working to eleva...