The real estate industry is on the cusp of a massive transformation, with experts predicting that more change will occur in the next five years than in the last five decades. As technology, shifting regulations, and new business models disrupt traditional norms, key players are positioning themselves to capitalize on this evolving landscape.

Mauricio Umansky, founder of The Agency, a leading luxury real estate brokerage, is a prime example of adapting in a shifting market. Despite market challenges, Umansky has continued to grow his business, emphasizing his belief that “when there’s trouble, there’s opportunity.”

His latest venture, the Mauricio Umansky Network, provides agents with tools to navigate business growth, sales, and negotiation. The $30/month subscription includes weekly sessions, live conversations, and industry insights, with real estate coach Tom Ferry among the first guest speakers.

Umansky’s focus on coaching signals the importance of ongoing education for agents who want to stand out in a crowded marketplace. He stresses that negotiation is one of the key skills that will separate successful agents from the rest.

While Umansky emphasizes mentorship and growth, new startup Landian has launched a platform with a flat-fee pricing structure that allows homebuyers to schedule tours and submit offers. Tours start at $49, and AI-powered offer submissions are available for $99. Co-founded by Josh Sitzer, who recently won a commission lawsuit against the NAR, the Landian model removes traditional buyer agent commissions by charging buyers directly instead.  

Meanwhile, in the U.K., REA Group, a subsidiary of News Corp, recently made a bid for the acquisition of Rightmove, Britain’s largest real estate portal. However, on 30 September 2024, Rightmove rejected the proposal, deeming the offer “unattractive” and stating that it undervalued the company.  

The acquisition would have given News Corp an even stronger foothold in the global real estate market. Currently the REA Group runs property websites across Australia, Asia and North America, so gaining a foothold in the UK market would have complemented its existing operations and solidified its presence in the digital real estate space.

 Key takeaways for real estate agents:

• Lean into growth: Like Umansky, agents should view market fluctuations as opportunities for expansion, rather than retrenchment.
• Invest in coaching: Building negotiation skills and sales techniques through platforms like the Umansky Network can help agents differentiate themselves. Choose a coach whose values align with yours.
• Explore new models: Consider flat-fee and à la carte services as potential revenue streams, but don’t overlook the true value agents provide through personalized service, expert market knowledge, and strong negotiation skills.
• Stay digitally savvy: With major players like the REA Group making moves into new markets, agents should embrace technology to remain competitive.

As the real estate landscape shifts, staying ahead of the curve is key. At Blok, we offer digital solutions designed to help agents adapt, grow, and thrive in this evolving market. From marketing and branding services to professional websites and end-to-end support, we’ve got everything you need to seize new opportunities. Schedule a consultation today to learn how we can help elevate your business.