Five Star Real Estate, based in Onekama, Michigan, is navigating challenges in the competitive real estate market of 2024. Despite closing over 8,100 transactions, CEO Paul Carlson worries about the firm's visibility outside of western Michigan, where it holds a strong market share. He highlights the potential disadvantage of shifting to private listing networks, fearing that larger franchises like Keller Williams could overshadow smaller firms like his. While confident in western Michigan, Carlson is anxious about limited exposure for listings across broader markets like Tampa, where they have fewer agents and listings.
If all the Keller Williams franchises or Anywhere Brands franchises put all of their listings on the same network, that is hundreds of thousands of listings compiled, Carlson said.
I have a much stronger presence in western Michigan than the KW franchise here, but we sold 8,200 homes last year, so maybe I'd be able to drive several hundred listings onto a platform at once.
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