Real estate agents can survive, but only if they are serious about investing in mortgages.
So said the members of a panel on Tuesday about the development of real estate brokerage during HousingWire Annually in Frisco, Texas.
Today, the value of a single mortgage is the same as 10 property sales, said Chris Kelly, president and CEO of Ebby Halliday companies.
“It is becoming increasingly important for brokers to align themselves with a business model that includes brokerage,” said Kelly.
Ebby Halliday, headquartered in Plano, Texas, is a subsidiary of the mighty HomeServices of America, the country’s most productive real estate broker from Sales figures in 2020, according to RealTrends.
But Kelly made it clear that HomeServices can only make money through mortgages and, to a lesser extent, title insurance.