Paul Kennedy's work highlights how powerful entities often decline due to evolving economic landscapes. This dynamic is mirrored in today's residential brokerage sector, where firms like Century 21 and RE/MAX, previously dominant, now face challenges from competitors employing innovative business models and lower-cost alternatives. Companies like Keller Williams and eXp Realty exemplify the shift in the market, highlighting the necessity for adaptability and innovation. The presence of new players with diverse compensation structures has fundamentally altered market dynamics, making it clear that even established names can be dethroned.
The cycle of ascent and decline in the residential brokerage industry mirrors historical patterns where dominant firms face significant challenges from emerging competitors and new business models.
RE/MAX disrupted Century 21 with its 100% commission model, only to be later overtaken by Keller Williams with its profit-sharing structure, showcasing the industry's constant evolution.
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