Mike DelPrete Says ‘Disruptors’ Like eXp are Thriving Over Legacy Brokerages

Renowned global real estate tech strategist Mike DelPrete captivated a packed audience of eXp Realty agents in Las Vegas at the Mandalay Bay Convention Center on Oct. 3, as he delivered the highly anticipated keynote address for Day 1 of EXPCON 2023.

A Netflix-Blockbuster Moment?

“We are moving from a rising tide to a receding tide,” he said. “I love a receding tide because it reveals a company’s true intentions.”

He then explained that the real estate industry is currently experiencing somewhat of a “Netflix-Blockbuster” moment where the “disruptors” like eXp are thriving over the “incumbents,” or legacy brokerages. He cited the exponential growth and profitability of eXp Realty as a proof point.

“So change is happening and you can’t ignore it,” DelPrete said. “In looking at stock prices to gauge the future prospects of a company, all the traditional brokerages went down. And then there is eXp, which is up 200%. This gives you a good indication of what is going on in the industry.”

The Last Mile Solution

He concluded with a discussion of how an agent is an “essential and indispensable” part of the process and a “last mile solution.” And as part of the solution, agents need to focus on three very basic but often overlooked elements: “If someone calls you, you call them back,” he said. “If they write you, then you write them back. And lastly, build a meaningful relationship. It’s that simple.”

DelPrete has emerged as a respected real estate industry thought leader in recent years, whose evidence-based analysis and data result in highly anticipated insights that dissect real estate trends. As a scholar-in-residence at the University of Colorado Boulder, his findings have provided a deeper understanding of real estate tech’s impact on the global market. His academic grounding and hands-on involvement with leading property portals and real estate tech businesses worldwide have allowed him to gather first-hand knowledge and insights on industry trends and themes.

DelPrete’s research and expert opinions have been featured in prestigious media outlets such as the New York Times, Wall Street Journal, Financial Times, and The Economist. DelPrete has reached a vast audience through these publications, disseminating his knowledge and shaping the discussions on the future of real estate technology.

__________

Interested in jump-starting your real estate career? Learn how eXp Realty puts agents first.