Above (from left to right): Anthony Lamacchia, Wendy Forsythe, Al Becker, Dava Davin, Dan Duffy and John Featherston
Boston, MA—After a tumultuous 2024—with the industry facing lawsuits, settlements and large practice changes—many agents, brokers and the like are looking ahead to 2025 with a bit of worry and unease. Industry leaders, however, took to the stage during NAR NXT on Friday, November 8 at RISMedia’s Power Broker Forum: “Ready for the Future—The Broker Playbook for a Stand-Out 2025” to put worries to rest and help prepare for the future.
Moderated by John Featherston, founder and CEO of RISMedia; and Anthony Lamacchia, broker/owner/CEO of Lamacchia Companies, Inc., the panel was comprised of four knowledgeable industry veterans: Wendy Forsythe, CMO of eXp Realty; Dan Duffy, founder and CEO of United Real Estate; Dava Davin, founder and CEO of Portside Real Estate Group; and Al Becker, president and COO of Jack Conway & Company, Inc.
Right off the bat, following some brief introductions, Featherston asked whether any of the brokerages’ extensive preparation ahead of the August 17 NAR practice changes helped recruitment at all.
Becker said that for Jack Conway, he saw their company as “a place of refuge for a lot of people that weren’t getting the support of the brokerage.”
Duffy added that for United, they had entire brokerages reach out on behalf of their agents due to their ability to train as well as their access to resources.
“The brokers were calling and saying, ‘Hey, look, I still want to maintain the integrity of my team, but I want to make sure the agents are covered, and you’ve got more resources—can you help us out with this?’ And they folded their entire brokerage into our local brokerage, maintaining their business,” he continued.
Forsythe expressed a similar sentiment, adding that continued agent preparation and growth is also a key piece of the recruitment puzzle.
“We pour into our agents every single day,” she said. “That’s our focus every day of the year, not just at the end of the year going into the next.”
Duffy added that this year has involved a lot of change, and therefore, a lot of travel all over the country and “really focusing on the grind.” While he said he’s basically been living on a plane all year, he expressed that “home is in the offices with the agents.”
Lamacchia then asked the panelists what differences they have observed lately region to region across the U.S.
Forsythe explained that she “certainly think(s) that real estate is still local,” and that one of the most interesting things to observe is that there are all kinds of dynamics out in the market right now.”
“Having been in the business for a while, there’s never been a more important time to be investing in your skills, because these skills that we need today are just all across the field,” she continued. “You’ve got to be able to play every position out there when you’re bringing value to your buyers and sellers. So kudos to all of you for investing in your skills. That’s why you’re here.”
Lamacchia added onto this, saying “every single one of us across the stage has had a serious headache with some of the things that have gone on, but instead of whining and going in our shell, we went forward.”
Davin reported that during a recent executive meeting, Portside Real Estate Group found that they saw the “best 90 days in the history of our company,” as agents have begun to push through and prosper despite all the challenges.
“If you’re leaning in right now, the opportunities have never been better for REALTORS® and real estate agents. Serious real estate professionals are going to have a banner year here in 2025,” added Duffy.
“I’m pushing the team, and we’re pushing each other, and the agents are involved,” he continued. “The challenge upon us is ‘25 in 25.’ We need 25 substantial innovations in 2025—25 innovations or modifications for a model which improves the value proposition in order to improve the production of agents so that they can win.”
Forsythe noted that a lot of success is about mindset. “No matter what’s thrown at us, those who have a mindset of abundance, a mindset of resilience, a mindset of opportunity are finding (their) way through that,” she said.
Davin agreed with Forsythe’s sentiment, adding that there are no “quick fixes for agents to grow their business.”
“I think there’s an opportunity in the market that we’re going into with more inventory on the market,” she said. “I got my real estate license in the fall of 2008, and the reason I was successful is I was creative, and I was bringing deals together and I was making things happen. We’re excited to really focus on that and the skill of negotiating. We’re going to be able to be creative and get the deals closed.”
In discussing the trending topics of commissions, compensation and the ever-present question of the Clear Cooperation Policy, Lamacchia asked the panelists to share their thoughts.
Duffy expressed that he does not want to debate Clear Cooperation, as it’s not necessarily what matters.
“At the end of the day, it’s going to shake out, but there’s going to be hundreds of thousands of hours spent talking about it just like it was with the lawsuit,” he said. “Whereas over here, there are opportunities—what are we doing to innovate and change?”
Forsythe, however, disagreed, saying she thinks “we have to debate and talk about things like Clear Cooperation.”
“If we don’t, that goes down a path that could really impact all of our agents and the industry. I think that would be a miss on our part,” she continued.
Featherston chimed in, adding that, “A part of what we have learned from this lawsuit and August 17 is we have to do a better job as a broker, as well as if you’re an agent or team leader out there. You have to do a better job demonstrating to your customer the amount of time, energy, effort, skills, etc., that you are bringing to the table with each transaction.”
Lamacchia brought the session to an end by asking each panelist to share a “pearl of wisdom.”
Forsythe: “We have an optimistic outlook for 2025. Circling back to what I said earlier, it’s about mindset. People make great businesses in every single market out there. I think that’s the opportunity that we all have, and that’s what we lean into—supporting our agents every day by asking ‘how do you build your business?’”
Becker: “Real estate is a noble profession. I think we need to remember how serious what we do is. We help people buy and sell homes to achieve the American Dream. Do what’s right for people, and you’ll be successful.”
Davin: “When you look at our REALTOR® population, it’s over 60% women. When we look at the CEO suites and we look at leadership, it’s probably 20% women. I think we have a huge opportunity for the men leaders in this room. When you go back to your organizations, look around. There’s probably a future leader right in front of you. And for the women, don’t wait for the invitation to the table—take your chair and bring it to the table.”Duffy: “If you’re a brokerage or a broker in this room, you’re here to improve the trajectory of your affiliate agents. Period. End story. You should wake up every morning saying, ‘how can I help them win and give them the things they need and improve their margins?’ That’s one thing.”
