The Future of Real Estate: Insights on Market Trends & Strategy

The real estate industry is ever-changing. With technology, policy shifts, and shifting market conditions, the role of a real estate professional is more complex than ever.

On my latest episode of the REalizations Podcast, I had the privilege of speaking with Leonard Steinberg, a highly respected real estate broker and Chief Evangelist at Compass.

Leonard is not just a broker; he is a visionary. He has a deep understanding of the market, the emotional weight of real estate transactions, and the power of relationships in this industry.

Our conversation touched on everything from misconceptions about real estate to the impact of the DOJ and NAR lawsuits and how technology is shaping the industry's future.

You can watch the entire podcast episode here:

Leonard Steinberg: More Than a Broker

When I asked Leonard to describe what he does, he hesitated to call himself a broker.

Yes, he facilitates transactions. But he spends most of his time advising clients, analyzing market trends, and thinking long-term about real estate. His job goes far beyond buying and selling homes. It’s about strategy, problem-solving, and understanding the big picture.

But Leonard doesn’t just work as a broker. He also serves as Chief Evangelist at Compass, a title that is unique in the real estate world. In this role, he emphasizes fostering a strong company culture, which is crucial for an industry with a challenging reputation.

Having a mortgage broker who understands these market dynamics can make a huge difference for buyers and sellers navigating complex transactions.

• Real estate is not just about transactions. It’s about relationships, advisory, and expertise.

• Culture matters and Compass is one of the few brokerages that actively works to foster a positive environment.

• The reputation of real estate brokerages needs to improve, and professionals like Leonard are working hard to change that.

Daily Insights: Real Estate, Data, and Storytelling

One of the things I admire most about Leonard is his dedication to educating others. Every morning, he writes a daily real estate update.

Each update includes:

• A featured listing from an agent at Compass showcasing the vast range of homes across the country.

• Market insights and economic data, helping agents and clients understand broader real estate trends.

• A personal or industry-related story adds a human touch to complex topics.

Leonard’s morning emails help real estate professionals stay informed and engaged with the market. In an industry where conditions can change overnight, having access to timely insights is invaluable. Listening to real estate podcasts can be another great way for professionals and consumers to stay updated on trends and strategies in the industry.

Real Estate as a Second Career: The Truth About the Industry

Both Leonard and I come from non-traditional backgrounds. He started his career in fashion design while I grew up surrounded by music and the arts.

Real estate often attracts professionals from other industries, but many people underestimate how difficult it is.

• Many new agents believe they can set their hours and make easy money.

• In reality, success in real estate requires long hours, market expertise, and constant client communication.

• The process of buying and selling a home is complex and emotional and requires professional guidance.

Leonard's transition from fashion to real estate wasn’t easy, but his background in sales, business, and understanding client needs helped him thrive. His story is proof that skills from other industries can translate into real estate success—but only if you're willing to put in the work.

The Impact of NAR and DOJ Lawsuits on Real Estate

One of the more serious topics we discussed was the DOJ and NAR lawsuits regarding real estate commissions. These lawsuits are changing how consumers view agents and how the industry operates.

• More companies are bypassing real estate agents and going straight to consumers.

• Lenders, title companies, and other real estate services that once relied on agents are now marketing directly to homebuyers.

• This shift could undermine the value of real estate professionals if agents don’t clearly communicate what they bring to the table.

Leonard believes that quality advisory services will always be in demand. People who are buying or selling multi-million-dollar homes want expert guidance. Real estate agents must elevate their professionalism to stay relevant in a changing landscape.

Technology vs. Human Expertise in Real Estate

We also talked about the rise of AI and automation in real estate. While technology is important, Leonard firmly believes that it cannot replace human expertise.

• Real estate is deeply emotional, similar to life events like divorce or death.

• Technology can assist in the process, but it can’t replace the human element of negotiation, advisory, and relationship-building.

• AI often lacks accuracy. Leonard shared a story about AI generating an entire fake bibliography when he tried using it for research.

The key takeaway? Technology should enhance real estate, not replace it. The best agents will be the ones who combine high-tech tools with high-touch service.

The Financial Aspects of Being a Real Estate Agent

There is a huge misconception about how much realtors make. The public often believes that agents are overpaid, but the truth is far from that.

• 69% of realtors are women, yet less than 9% of executive roles in real estate are held by women.

• The average real estate agent makes less than $40,000 per year before expenses.

• Many successful agents reinvest heavily in their business, covering costs like marketing, staging, photography, and videography.

The commission structure is under attack, and Leonard made it clear that the industry has done a poor job of educating consumers about what real estate professionals actually do. If agents don’t control their own narrative, someone else will.

Why Real Estate Will Always Be About People

My conversation with Leonard reaffirmed one fundamental truth: real estate is about relationships.

It’s not just about selling homes—it’s about guiding people through one of the most emotional and financially significant decisions of their lives.

Tune in to REalizations Podcast

Our podcast dives deep into the realities of the real estate industry, uncovering the stories, challenges, and strategies that define success in this profession.

The industry is evolving, and those who embrace both technology and human connection will thrive. Connect, learn, and explore more about real estate through engaging conversations.