Back in 2018, during a fascinating Inman Connect interview, Gary Keller, the founder of Keller Williams, made a bold prediction. He told Brad Inman, the founder of Inman News, that the real estate industry was at a major pivot point—one that would define the future of how transactions are handled.
At the core of this transformation were two competing models:
Agent-Enabled by Technology – Agents remain the fiduciary, using technology as a tool to enhance their service.
Technology-Enabled by Agents – Technology becomes the fiduciary, using agents as a means to an end.
The difference?
One protects the agent’s role, providing a personal touch and deeper insight, while the other focuses on reducing commissions, shifting value to consumers through AI-driven efficiency.
Fast forward seven years—and Keller’s words ring louder!
The battle over BIG DATA & AI has shaped the industry’s future. Major players have fought hard, some failing, some thriving. But 2024 brought an unexpected catalyst: legislation on real estate commissions.
This ruling, if not a final determination, has certainly accelerated the shift. The landscape is changing faster than ever, and the effects are undeniable:
@Properties—once, one of the largest privately held brokerage firms in US— and a major advocate of Agents model was acquired in late 2024 at multiples that although were good in real estate in 2024 but not the best the industry has seen over the past decade.
Keller Williams, a pioneer of the agent-first model, and more importantly the Gary Keller's company! just brought in some significant private equity investors for presumably some significant shares!
Redfin, a leading tech-enabled brokerage, just got acquired in 2025 by a mortgage company as an enhancement tool!
I don't believe these are just some ordinary corporate transitions. They signal a shift in the core philosophy of real estate brokerage industry.
For years, real estate has been one of the most tradition-bound industries. But today, we hear the winds of change loud and clear.
What does this mean for agents?
Top producers will always adapt, but what about the majority—agents closing 1-10 transactions a year? How will they fit into this new landscape?
Technology isn’t just an enhancement anymore—it’s the battlefield. The industry must decide:
Will the technology take the lead and agents follow?
Or will agents remain at the forefront, empowered by technology?
The answer will be defined soon!
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