Updated: Feb 13
An interview with Keller Williams International President, Marc King
The Not So Black and White Real Estate Podcast: An Interview with Marc King
In this episode of the Not So Black and White Real Estate Podcast, hosts Sir Colin Campbell and Gary McGowan interview Marc King, President of Keller Williams International. The interview takes place on-site at one of the biggest real estate events in Canada.
Marc shares his thoughts on the current real estate market and the opportunities available in this shifting market. He mentions that a lot of people are afraid of the current market, but according to him, smart people turn in the opposite direction of the market's movement. He also mentions that there are a lot of experts and gurus talking about the housing market crash, but the data shows that there is no collapse coming. With 5 million more millennials at peak buying age compared to Gen-Xers in 2008, the market has a supply and demand problem and a math problem.
Marc also mentions that the number of agents in the industry at any given time is proportional to the number of commission dollars to be earned. In 2008, when the market declined by 30%, 30% of the agents dropped out as there was less commission dollars to be earned. This time, however, the market is different, with a 38% increase in agents in the industry.
To wrap up, Marc highlights the opportunity available in the current market and emphasizes the importance of looking at the data and facts, instead of following the opinions of experts and gurus who might not have all the information.
Your hosts are Colin Campbell and Gary McGowan.