The median age of a Realtor is now 57, according to the National Association of Realtors’ 2026 Member Profile. Many of the broker-owners those agents work for built their companies in the 1990s and early 2000s, and they’re facing retirement decisions on the same timeline.
We’re in the middle of a generational transfer of brokerage ownership, and the brokers who recognize this moment will be the ones who capitalize on it.
It’s happening alongside the Great Wealth Transfer, as Gen X and millennials stand to inherit trillions of dollars in real estate wealth over the next decade, with the United States positioned to capture more than half of that transfer. As ownership of property changes hands, so will ownership of the businesses built around it.
Leading one of the largest affiliate networks in the country gives me a front-row seat to what this looks like in practice. The industry is consolidating faster than ever, and if you’ve built a strong business, there are more buyers and transition pathways than there used to be.
I’ve seen too many brokerage owners forced into decisions out of distress rather than design, and when a strong company fades away because there was no plan, it’s devastating for everyone involved.
Succession planning is not a “retirement task.” It’s a core business discipline. Sometimes the unexpected happens: health events, family needs, partnership changes, sudden opportunities you can’t ignore. We’ve had Coldwell Banker owners in their 40s rely on their succession plan because life forced a pivot.
A plan is for everyone, at every stage, because you can’t schedule risk. You are the youngest, healthiest and most in control you’ll ever be right now. Waiting only reduces your options and, ultimately, your valuation.
The market has revealed who’s been building for the long term
The past three years tested every brokerage. Margin compression, agent retention battles, flat or contracting transaction volume, commission lawsuits and prolonged market uncertainty.
Here’s what I’ve learned watching dozens of transitions across our network: Succession planning isn’t something you do after you stabilize the business. It’s something you do to stabilize the business.
The brokers who had clear succession frameworks and invested early in leadership development before 2023 navigated the chaos better. They had leadership depth when they needed it most, and they leaned on their systems and brand backing to weather the storm and position for what comes next. That continuity protected the owner, the support staff and the agents.
The ownership calculus has fundamentally changed
I’ve watched multiple Coldwell Banker affiliates transition ownership in different ways.
- In Staten Island, New York, the owner recruited a high-performing industry leader from a competing brokerage to step in as the new owner-operator, ensuring the company continued to grow under experienced leadership.
- In Ashland, Ohio, a top-performing real estate professional within the company stepped into ownership, creating a natural leadership transition from within the organization.
What struck me wasn’t that they transitioned, but how. These were thoughtful, strategic moves made on the broker’s timeline and at valuations they were proud of, the result of years of intentional planning.
What’s changed most is the assumption that succession will automatically come from within — that a child or family member will step into ownership. Rising leaders across the industry love this business but have different expectations about ownership. Many are deciding: “I want to lead, but ownership isn’t my path.”
If you’re banking on internal succession without validating that appetite exists, you need to widen your view of what succession can look like. That may mean handpicking and developing your successor over time or thinking more broadly about the kind of leader your business needs next.
3 strategic moves for 2026
1. Get radically honest about your bench
Who could step in within 12-24 months and keep the organization moving forward?
If the answer is “no one,” the time to start is now. Identify people with strategic thinking, operational discipline and cultural alignment. Give them real responsibility. Let them see what ownership requires. “Replacing yourself” isn’t about stepping away; it’s about future-proofing the business.
Formal leadership development makes a real difference here, whether it comes through your network or a mentorship you build in-house. Owners who invest in it are creating real optionality.
2. Treat ‘clean books’ as a valuation strategy, not just an accounting chore
Succession planning is a forcing function here. It pushes you to maintain an accountant-approved, three-year look-back at all times. Not “when you’re ready to sell” but as an ongoing standard.
Clean financials don’t just help a buyer understand the business; they help you run it better, identify opportunities and reduce risk if something unexpected forces a transition.
Get a third-party valuation every year or two, even if you have no plans to sell, so you know your number and what moves it. Build a relationship with an M&A advisor or a CPA who knows brokerage deals well before you need one.
If you belong to a network, use the resources it offers here. If you’re independent, peer groups and your state association are good places to find the right advisors.
3. Make this a recurring strategic priority
Track potential successors across three horizons:
- Ready now (6-24 months)
- Ready soon (12-36 months with development)
- Emerging (3-5 years out)
Update annually. The discipline forces you to build systems, document knowledge and develop people continuously.
The window is open, and the smart money is moving
Capital is available. Buyers are active. Valuations for quality brokerages are holding strong.
The decisions you make in 2026 about leadership development, business systems and strategic positioning will determine whether you maximize this opportunity. Succession planning isn’t a finish-line exercise. It’s operational risk management. It’s protecting the enterprise value you’ve built and the people who rely on it.
The most valuable thing you can do this year is answer these questions:
- Who can run this business if I can’t?
- What’s it worth today, and what would increase that number?
- When do I actually want to exit, and what needs to happen first?
- What happens to my business when I’m no longer here?
The legacy you leave isn’t just the business you built. It’s whether that business can outlast you.
Kate Conquest is Senior Vice President of Coldwell Banker Affiliates. Get connected on LinkedIn.
