Redfin going public, the iBuyer invasion, Compass’s massive funding round — there’s no doubt that a lot of money is being poured into the real estate brokerage space right now, Michele Conn (SVP of mergers acquisitions and research at Swanepoel T3 Group) told the audience at Indie Broker Summit, a special day of programming at Inman Connect New York.
So that begs the question, is now the time to sell your brokerage?
“I think the timing question is really one for you,” said Conn. “If you are thinking that you want to derisk yourself or take the money off the table in the next five years — then the timing part makes a big difference. If you are thinking that you’re just building up your brokerage and you’re just getting started … then not so urgent.
“And I think that’s the same thing you would tell a homeseller. If you’re in it for the long haul, timing doesn’t matter so much.”
Conn is joined onstage by real estate and M&A veteran Michael Pappas, president/CEO, Keyes Company/Illustrated Properties.