Pressure to trim expenses grows as big brokerages focus on talent investments and acquisitions for revenue amid a slow commercial sales rebound. The industry sees ongoing layoffs as firms adapt to changing market dynamics, impacting broker commissions and workforce expansion.
Market disruptions since the pandemic have affected investment property sales and financing, leading to increased turnover among brokers and hindering sales force expansion. Higher interest rates have caused sales to drop, posing challenges for firms like Marcus & Millichap in maintaining profitability.
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