Technology is changing how brokerages operate, consolidation is reshaping the competitive landscape, and a challenging housing market continues to test agents and their leaders. But across nearly two hours of discussions at the National Association of REALTORS®' inaugural Broker Innovation Forum, one central idea surfaced across the conversations: Trust remains at the center of a successful brokerage.
The event, held Friday, Nov. 6 during NAR NXT in New Orleans, brought together brokerage leaders and industry experts to discuss how brokers can adapt to a changing industry without losing sight of the relationships that drive their businesses.
From helping agents restore consumer confidence to evaluating AI investments and navigating consolidation, speakers offered practical insights on how brokers can build trust while positioning their businesses for long-term success.
Building Consumer Confidence Starts With Brokers
NAR CEO Nykia Wright opened the forum by encouraging brokers to continue sharing their challenges with the association, noting that NAR is using feedback from its listening tours to identify solutions that support brokerages of all sizes.
"We can't solve what we don't know," Wright said.
That emphasis on communication carried into NAR Chief Economist Lawrence Yun's economic outlook, where he identified two major obstacles to a stronger housing market: affordability and consumer confidence.
Existing-home sales have hovered around 4 million annually for four consecutive years, well below the roughly 5.2 million annual sales recorded before the pandemic. While affordability remains a significant challenge, Yun said brokers have an opportunity to influence consumer sentiment.
"If you show pessimism, your consumers will show pessimism," Yun said.
He encouraged brokers to train agents to use market data to help consumers understand the long-term financial benefits of homeownership. Rather than allowing uncertainty to dictate conversations, agents can build confidence by providing informed guidance grounded in local market conditions.
AI Should Give Agents More Time to Build Trust
During a fireside chat with NAR Chief Marketing and Communications Officer Bennett Richardson, real estate entrepreneur Ryan Serhant challenged brokers to reconsider how they measure the value of technology.
"If intelligence is cheap, trust is expensive," Serhant said. "Trust is now a luxury item."
Serhant explained that his brokerage's approach to AI focuses on reducing administrative work so agents can spend more time developing client relationships. Rather than giving agents another platform to learn, Serhant's brokerage equipped its support staff with AI tools to handle administrative work behind the scenes. Serhant said agents using the system increased their production by an average of 44% in one year.
He warned, though, that technology alone won't improve performance. Tools must solve real problems, and brokerage leaders need to evaluate whether those investments are helping agents become more productive.
For Serhant, providing agents with the support they need to succeed is a fundamental responsibility of brokerage leadership. "I think the job of a CEO or a broker owner is to wake up every day and say, 'What am I doing to earn the right of my agents, of my staff and their customers?'" he said.
That responsibility extends to brokerage culture, which Serhant defined as "the behavior you allow” as the leader of the business. As brokerages grow, he said, brokers must be willing to address behavior that undermines the organization, even when it comes from productive agents.
Building an AI-Ready Brokerage Requires More Than Technology
The forum's first panel, "Building an AI-Centric Brokerage," explored what brokers need to consider before investing in AI, from the quality of their data to the potential risks of adopting new tools.
John Rogers, chief data and analytics officer at Cotality, emphasized that effective AI depends on reliable data and safeguards that prevent inaccurate or inappropriate outputs. Without that foundation, brokers risk introducing new problems rather than solving existing ones.
Tyler Adams, co-founder and CEO of CertifID, warned that AI is also making real estate fraud more sophisticated. Criminals can impersonate trusted professionals, making verification essential throughout a transaction.
"You have to verify in order to trust," Adams said.
He urged brokers to secure company email accounts with multifactor authentication and educate clients about fraud risks from the beginning of a transaction.
Divya Aathresh, CEO and founder of MaxHome, discussed how AI can reduce administrative work by reviewing transaction documents and identifying missing information. But she cautioned that adoption depends on whether technology actually meets agents' needs.
Successful AI adoption requires more than purchasing new software. It means understanding how the technology fits into brokerage operations and ensuring it can be used safely and effectively.
Choose Technology That Strengthens Relationships
The second panel, "Startups Building the Future of Brokerage," focused on helping brokers make smarter technology investments.
Max Fitzgerald, CEO and founder of StackWrap, encouraged brokers to identify their brokerage's core value proposition before purchasing new tools. Jeremiah Taylor, co-founder and CEO of BrokerBot, recommended starting with the business problem that would make the greatest difference if solved.
Taylor argued that technology should ultimately support what makes brokerages valuable: "brand, trust and relationships."
Panelists also encouraged brokers to test products with small groups of agents before committing to companywide implementation. Fitzgerald warned that without testing, brokerages risk paying for technology their agents rarely use.
The panel emphasized that innovation doesn't require adopting every new tool. It requires understanding what agents need and investing in solutions that help them serve clients better.
Consolidation Success Depends on Cultural Fit
The final panel examined brokerage consolidation from the perspectives of acquiring and acquired companies.
Moderated by Rick Davidson, chairman and CEO of Cairn Real Estate Holdings, the discussion emphasized that financial considerations are only part of a successful merger or acquisition.
Ken Baris, CEO of BHHS Jordan Baris Realty, stressed the importance of preserving brokerage culture, and Lori Muller, president of Fathom Realty, encouraged brokers to evaluate potential partners carefully, comparing the relationship to a marriage.
Jackie Louh, chief operating officer of Lamacchia Realty, said the most difficult part of an acquisition often comes after the agreement is signed.
The first 30 to 45 days are especially important, she explained, because agents are navigating a transition they didn't necessarily choose. Clear communication and consistent support can help preserve their confidence in the new organization.
For brokers considering an acquisition or merger, they key to a successful transaction is that the arrangement must benefit the people who make the brokerage work.
Across the forum, the conversations returned to a common leadership responsibility. Whether brokers are preparing agents for a changing market, introducing AI or considering consolidation, their decisions influence the confidence others place in their businesses.
Innovation can create opportunities for growth, but trust is what helps brokerages sustain that growth.
