{"id":4452,"date":"2023-06-19T19:50:29","date_gmt":"2023-06-19T19:50:29","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/06\/19\/gary-keller-discusses-the-constant-of-change-in-real-estate\/"},"modified":"2025-03-13T02:51:51","modified_gmt":"2025-03-13T02:51:51","slug":"gary-keller-discusses-the-constant-of-change-in-real-estate","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/06\/19\/gary-keller-discusses-the-constant-of-change-in-real-estate\/","title":{"rendered":"Gary Keller discusses the constant of change in real estate"},"content":{"rendered":"\n

In his over four decades in the real estate industry, Gary Keller<\/a> has seen a thing or two. From the recession in the early 1980s and the Great Recession of the mid-2000s, to the chaos and turmoil of the COVID-19<\/a> housing market<\/a>, Keller and the brokerage he co-founded in 1982, Keller Williams<\/strong> \u2014 which he is now the executive chairman of \u2014 have been through all of the housing market cycles.<\/p>\n\n\n\n

Keller took to the stage Monday morning in the Brazos ballroom of the Omni Barton Creek Hotel in Austin, Texas to address nearly 400 RealTrends Gathering of Eagles<\/a><\/strong> attendees, sharing his thoughts on changes in the industry and what future developments he anticipates.<\/p>\n\n\n\n

\n

\u201cThe good news is that the desire to own a home has never been bigger,\u201d Keller said. \u201cWe know, if you go back to the research that has been done over the last 20 to 30 years on wealth in America, it is tied to homeownership.\u201d<\/p>\n\n\n\n

While he does not believe this real estate fundamental will change, Keller is confident that the industry will continue to evolve.<\/p>\n\n\n\n

\u201cWhat has surprised me the least over the last decade is that real estate continues to change,\u201d Keller said. \u201cOnce you accept that change is inevitable and you embrace change as an opportunity \u2014 because the majority of people resist change \u2014 then the change does not surprise you. There has never been a better time to make more money in this industry than right now. Now is maybe the greatest time ever.\u201d<\/p>\n\n\n\n

What’s currently driving these changes, in Keller\u2019s view, are technology<\/a>, the numerous lawsuits<\/a> facing the industry and the evolution and development of real estate teams<\/a>.<\/p>\n\n\n\n

\u201cRight now, people are underestimating the long-term effect of technology,\u201d Keller said. \u201cWe came out of the gates like five years ago and stumbled and built a product that didn\u2019t work, and we had to stop and find new leadership and start again<\/a>. But we are there now, and we are already starting to see the value that it is bringing to our agents \u2014 pricing, consumer trends, all of the in the name of making out people smarter and providing better balance to their lives, and business. And that isn\u2019t going to stop; it is just going to grow more and more.\u201d<\/p>\n\n\n\n

Keller also highlighted the class action lawsuits<\/a> plaguing the real estate industry as another catalyst for change.<\/p>\n\n\n\n

\u201cThe legal industry has discovered our industry,\u201d Keller said. \u201cBut the TCPA<\/a> [Telephone Consumer Protection Act] and the lawyers enforcing that have really been one of the biggest changes recently. It has moved the industry more and more toward permission-based marketing, which has formed the basis of the lead generation industry. Consumers now have to give you permission to reach out to them, and that has been great for the aggregators.\u201d<\/p>\n\n\n\n

As lead generation has morphed into its own industry within the real estate industry, leads have become the number one thing agents request from their broker. Real estate team leaders have jumped in to fill this gap, causing the size and number of real estate teams to rapidly grow over the past decade \u2014 another factor Keller feels is sparking change in the industry.<\/p>\n\n\n\n

\u201cBack ten years ago in our business, agents on teams represented about 10% of all agents, and today it is about 40%,\u201d Keller said.<\/p>\n\n\n\n

Keller said it is no surprise that the team model has taken off as agents have looked to expand their businesses and increase their profit margins.<\/p>\n\n\n\n

In Keller\u2019s view, the teams that are the most profitable are the ones whose leaders provide agents with quality leads.<\/p>\n\n\n\n

\u201cIt doesn\u2019t take more than five or six closing ad month, where you are collecting a lead generation fee and then you are on a big 50% split for that agent \u2014 which they\u2019ll do all day long for a good lead \u2014 for you to literally double your profitability,\u201d Keller said.<\/p>\n\n\n\n

With change continuing to be a constant in the real estate industry, Keller told attendees to lean into education.<\/p>\n\n\n\n

\u201cEducation is more needed than ever before, but it is the timing of the information that matters most to them right now,\u201d Keller said.<\/p>\n<\/div><\/div>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

New technology, numerous lawsuits and the evolution\/development of real estate teams are collectively creating incredible change in the industry, Gary Keller tells attendees at Gathering of Eagles.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-4452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nGary Keller discusses the constant of change in real estate<\/title>\n<meta name=\"description\" content=\"Gary Keller discusses the changes technology, lawsuits and teams have created in the industry with Gathering of Eagles attendees.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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