Real estate agents continue their four-year downturn in the market, and RealScout CEO Andrew Flachner offers his own insight into how it has affected their business.
As the CEO of a fast-growing company that supports the business of tens of thousands of agents, Mr. Flakner has seen agents adapt and brokerages get smarter about return on investment and search efficiency.
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Since launching his podcast “Playmakers” in May 2025, Mr. Flachner has established himself close to the heart of the industry, interviewing top executives, coaches and other industry insiders, and rapidly growing his media presence.
And just last week, Mr. Flackner was sworn in as the inaugural member of the Inman Advisory Council. He spoke to Inman about that and the biggest stories in real estate today.
Inman: About a month ago, we announced an integration with Opendoor. What was your idea?
Andrew Flachner: There’s a lot of uncertainty for home sellers in today’s market, and iBuying is really making a comeback with new services like “Cash Now, More Later.” This allows sellers to accept an iBuying offer without leaving any money on the table, and then put the home back on the market for a profit minus costs.
I was just with an agent and we were talking about how important it has become to provide sellers with more options in an uncertain market. It may appear in the listing presentation, it may be something you keep in your back pocket when the listing becomes stale, or it may be something you offer early so the seller can free up some cash. And from an agent’s perspective, this is attractive because agents can receive up to a 2% bonus commission from Opendoor on top of the commission they negotiated with the seller.
I can’t stop hearing about Zillow, MRED, and Compass. Are we in a new era where brokers are finally taking back control over their data?
We strongly believe in transparency and know that getting the most attention on your listing is what’s best for consumers. What I fear is that we are seeing a prisoner’s dilemma game unfolding, with some brokerages altering their market share to build walled gardens. I think that could fragment the market and harm all participants.
We generally applaud organizations’ efforts to expose listings to a wider range of buyers. We also work closely with the MLS that provide listings to RealScout.
It feels like we’ve already started seeing some disruption, like Zillow Preview, Compass and Redfin’s partnership. As a consumer who recently entered the market, I had already visited multiple sites.
However, I think there are quite a few nuances. Geographical nuances, legal nuances. This problem will probably be more acute in coastal cities, where Compass has a dominant market share, but there are many other parts of the country where it’s less of an issue. However, this is becoming a major headache for all players in the industry.
What I really don’t want to see is a future where consumers and agents have to go to four or five different places to get a complete picture of the market. RealScout continues to strive to ensure our customers have access to what they need, both in listing exposure and listing access, and we seek to work with partners who believe in that as well.
As brokerage firms continue to consolidate, how should agents think about their place?
The most important thing is what kind of support you get from your leaders, team leaders, and mediating staff. Beyond that, it depends on their goals.
If you want to build a large team, certain brands have better infrastructure for that. If you want to become a high-performing solo agent or build a media brand, you’ll probably partner with someone else. Serhant is making big moves in that space.
It’s difficult to make comprehensive statements. I think many of the more traditional incumbents need to evolve or consolidate. We just witnessed that with Real and REMAX.
How would you describe the current market situation?
It’s been a long and difficult market, and many customers are finding it difficult. There’s not a lot of movement or trading.
Interest rates are discouraging people from buying or selling. Because you will have to find another place to buy it. I am in that position myself. I don’t have any immediate plans to move, but I realized that with the mortgage rate on my loan at 3%, it didn’t make much sense to window shop.
Will agents adapt or exit the industry?
Tough markets are forcing agents to approach business more rigorously. At the height of the market, real estate agents, teams, and brokerage executives were spending money on lead generation without a clear understanding of how each channel was performing. Today, more discipline is required when it comes to understanding metrics. That means understanding where you can invest $1 and get $1.50 back instead of $1.10 or 90 cents.
This rigor also encourages practitioners to invest in the most profitable form of lead generation: database cultivation. Investing in past customers and spheres of influence.
And now they’re layering AI on top of that?
There’s that, but there’s also a lot of waste as people find their footing. No one really uses AI to significantly reduce costs. We’re seeing the best real estate professionals leverage AI to do more.
Sure, there are some layups, like using AI to help explain lists. However, the efficiency of the agent is increasing and it does not slow it down. That’s what keeps them going.
This also applies to other industries. Even software companies are investing more and hiring more. AI allows us to do more and put more strain on different parts of our business, which means we need more people.
Why did you decide to join the Inman Advisory Board?
I care deeply about this industry, and Inman is an organization that has given me and my company so much over the years. I will never forget the opportunities Brad gave me in the early days and the platform he gave RealScout.
I want to make the community as strong as possible and encourage it by creating a forum for ideas and collaboration between industry leaders. That’s why I volunteer my time.
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