BrokerageExclusive

Bamboo Realty closes its offices, ceases operations

The Millennial-focused brokerage is closing all offices after experimenting with ‘pay-what-you want’ commissions
  • 'No one ever wants to talk about the ugly side of innovation, which is that sometimes you have to make tough decisions that impact people,' said broker-owner Sarah Schnell Jones.

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

It's not easy to try to disrupt an industry like real estate. Bamboo Realty was a brokerage that tried, catering first to rental clients and later experimenting with a pay-what-you-want commission deal for real estate transactions. Sarah Jones But it looks like December's shuttering of the Houston Bamboo office was foretelling. Today, Bamboo's broker-owner and CEO, Sarah Schnell Jones, told Inman that "we are closing the Bamboo offices." The company had offices in Denver; Raleigh, North Carolina; and Dallas following the Houston office’s closure. In December, Inman wrote that Bamboo "began as a rental-only firm in 2009 and began representing buyers and sellers in 2011. Since then, Bamboo Realty has become known as a 'for millennials by millennials' brokerage that focuses on capturing clients at the rental stage and guiding them toward homeownership." Alyssa Hellman Zach Schabot Bamboo head trainer Alyssa Hellman and VP Zach Schabot have been helping the age...