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Posted: December 22, 2014
Justin White, Equitas Realty
What was the best thing that happened to you or your firm in 2014?
Equitas Realty launched as an Independent Brokerage, expanding its market reach to all counties east and west of the Northway corridor, and beyond.
What was your most notable project, deal, transaction or personal achievement in 2014?
Equitas Realty, formerly Keller Williams Saratoga Springs, elected not to renew its franchise agreement for another 10 years. The business decision was a simple one: working within a franchise system is too limiting moving forward in the Real Estate industry, which is being driven into a watershed period of change by huge advancements in technology and consumer behavior. The underlying economics of the industry will be shifting radically over the next 5 years or less, and it is our strong belief that large franchise systems will struggle to adjust as quickly as Realtors should, and will, demand.
What are you looking forward to accomplishing in 2015?
Rolling out to our real estate associates, commercial and residential, the most exciting compensation plan found in the industry today (see our website Careers Menu), as well as the most Realtor friendly set of brokerage services available from any brokerage.
What are some of your real estate predictions for 2015?
At least one major, high on the Richter scale, franchise merger/acquisition. Reology will make a bolder technology move than Zip was: probably too late to buy Zillow, but maybe an alignment with the new guy on the US RE block, Rupert Murdock? Zillow will acquire another key piece of the agent services puzzle (Docusign?) further threatening franchise value-add to agents. Number of agents advertising with 'Zulia' will double. 30 yr. Fixed will break the 5% mark. Locally, more Realtor movement between firms than we have seen in years. Median home prices locally stabilize at 4% YOY growth.
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