“The night is darkest just before the dawn. And I promise you, the dawn is coming.”
Who said it, District Attorney Harvey Dent in “The Dark Knight,” or a residential brokerage CEO?
It’s been mostly doom and gloom on the residential brokerage landscape over the past six months: layoffs, tanking stocks, spiking interest rates and a sluggish market. But a new year has come with some new hope.
Shares of many major residential firms are up significantly, as TRD’s Hiten Samtani discusses in the latest episode of Resi Rundown, a series on the latest trends and news in the residential brokerage industry. There have been big upswings for Compass, Anywhere Real Estate and Redfin, who’ve all taken steps to trim their costs and get more disciplined.
As Samtani puts it, “Wall Street has noticed.”
Watch the video above to get the skinny on where publicly traded firms stand and what’s driven the rebound. And be sure to tune in for more Resi Rundowns.