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Reffkin's 8 trends to expect by 2028



At ICNY 18, the leader of the red hot real estate tech company predicted AI and agent teams will soon replace brokerages

NEW YORK -- Agent teams and tech-savvy agents able to deploy state-of-the-art tools like artificial intelligence will replace the traditional brokerage firm over the next decade, Compass CEO Robert Reffkin told a rapt audience at Inman Connect on Wednesday morning.

"When I talk with heads of brokerage firms across the country, they're terrified about being replaced, and not by technology--but by their own agents," Reffkin told a standing-room audience during the Inman Connect lecture, "Freed Agents: How Technology is Redefining Roles." "To be clear, brokerage firms as we currently know them will not exist in the next 10 years. Agent teams will replace the brokerage firm."

The demise of the traditional brokerage will come when agent teams uncouple themselves from companies by taking control of the lead generation tools, customer relationship management software and Multiple Listing Services (MLS) they once depended on their firms to provide.