"The Compass managing broker can now call the No. 1 agent for the local [Keller Williams] office who never would have considered Compass at all, and pitch them with the size of their [private listing network], Rob Hahn, an attorney and industry analyst wrote in a post on his Notorious ROB substack. Caps and low commissions are awesome, but not if you're losing deals to Compass agents with their additional things for buyers and sellers."
"For smaller firm or boutique brokerages, Hahn acknowledged that it would be challenging to create an effective internal private listing network, so he believes an effective strategy to compete with Compass in this space would be leveraging a third-party private listing network like Top Agent Network (TAN). This is exactly what Shalini Sadda, a broker associate at the Side-brokered City Real Estate, has in mind. Private, exclusive inventory is just one piece of why agents choose to join a brokerage, Sadda says."
Brokerages compete for agents through commission splits, resources (technology, support, legal), and culture. Compass’s private listing network and promotion of exclusive inventory create a resource advantage that can be used to recruit top agents from competitors. Observers note that such advantages can cost other firms deals and reduce the effectiveness of low commissions. Smaller and boutique brokerages face difficulty building effective internal private listing networks and may instead leverage third-party networks such as Top Agent Network (TAN). Brokers emphasize that private inventory is one factor, while culture and well-rounded support remain central to agent recruitment and retention.
Read at www.housingwire.com
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