Inman Connect sessions are on video replay. Tune-in for winning strategies and discover what’s next in real estate. Session videos, livestream access and event discounts for Connect are all exclusive to Inman Select subscribers.
The real estate industry moves slowly, but it’s never moved as quickly as right now, according to Mike DelPrete, a real estate tech adviser, professor and member of Zavvie’s board of directors. There’s no greater evidence in the voracious market share growth of tech-enabled brokerages and iBuyers, DelPrete said, during a morning session titled, “Mike DelPrete’s State of the Industry,” at Inman Connect in New York at the Marriot Marquis.
In 2019, Compass and Redfin, two of the largest tech-enabled brokerages, roughly doubled their market share growth, according to DelPrete. The two companies accounted for approximately 3 percent of transactions in 2019, up from 1.5 percent in 2018. He predicts that number could grow to 4 percent in 2020.
“That’s moving fast,” DelPrete said.
For more on the growth of tech brokerages and iBuyers, tune into the video above, or read the full article.