Simon Chen, CEO for ERA Franchise Systems visited the Las Vegas offices of ERA Brokers Consolidated in Henderson and Summerlin recently.
After getting to know everyone and making introductions, Simon gave a presentation on innovation and technology in the real estate industry. Simon is a sought after speaker on these topics and his prior experience in real estate technology along with his current leadership role within Realogy and its technology committees gives him insight that is unique.
Simon shared that the number one trend in real estate is the amount of capital chasing real estate technology and business model innovation. He indicated than as much as $12 billion would be invested this year alone. When compared with recent history, the numbers are staggering, and go a long way to explain the current set of competitive dynamics in the real estate industry. He explained that although the large aggregators like Zillow and Realtor have been in the Listing Display space for a long time, brokerages are taking a more aggressive position with the introduction of new offerings by Re/Max, KW, and Compass. Realogy and its affiliated brands, including ERA, have had a position in the space since 2014. The next trend is transaction management software and efforts to connect the client experience from end to end.
It was a great opportunity for agents and staff to visit with Simon and get a picture of the industry from his perspective. Hosting this event was a great learning experience and a good opportunity to stay ahead of market changes working their way through real estate.
About ERA Brokers Consolidated
ERA Brokers Consolidated is a brokerage infused with proprietary real estate technology. ERA Brokers Consolidated includes 9 offices on the I-15 corridor from Salt Lake City, UT to Las Vegas Nevada. With over 400 agents and staff, ERA Brokers operates a proprietary technology platform, ARTI®, publishes monthly market research, and manages over 1,600 property management units for its clients.