Real Estate Companies are Actually NOT Laying off Staff Right and Left

By
Services for Real Estate Pros with R. Michael Brown LLC Digital Marketing & Public Relations

Recent headlines have been filled with news of layoffs, but look closer. The companies where layoffs are occurring are wholly unrepresentative of the real estate industry and don't represent a major trend.

Inman performed an analysis on the industry and published it today. Here's a summary of their findings and our view at My State MLS.

Here was the headline in The Street’s report on the Compass and Redfin layoffs last week: “Real Estate Companies are Laying Off Staff Right and Left.”

Counterpoint: No, they’re not.

Here was Newsweek’s: “What Real Estate Layoffs Tell Us About the Housing Market.”

Answer: Nothing.

And here was the headline from my friends at Inman: “Do Layoffs at Compass and Redfin Signal a Looming Real Estate Purge?”

Answer: No. 

Here’s the reality. The companies that laid people off are either investor-driven companies that are losing money and share price, startups with unproven business models, or refi-dependent mortgage and title companies. They all attract a vast amount of attention from the cognoscenti, but they are wholly unrepresentative of the industry as a whole.

See More Including Our Analysis [Go Home TV]

Comments (1)

Gwen Fowler-864-710-4518 SC * Mountain* Lake*Home
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

The layoffs just reflect a correction in business, when something does not work, you rethink it and move in another direction. 

Jun 24, 2022 04:51 AM