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Residential real estate is the biggest, most competitive segment of the industry, but it's also the most resilient because housing is a basic need. Even during economic downturns, there are always buyers and sellers.
Residential real estate is the biggest, most competitive segment of the industry, but it's also the most resilient because housing is a basic need. Even during economic downturns, there are always buyers and sellers.
Residential is where we have the most practitioners. If you look at the size of the business, there are a ton of transactions all over the country, every zip code. There's a ton of practitioners all over the country in every zip code. So, it's wildly competitive, but it's also wildly big. Here's a couple of things to consider. First of all, residential will always happen because people have to have somewhere to live. That makes the residential side slightly immune to economic challenges. It doesn't mean that prices don't fluctuate, and it doesn't mean that traffic doesn't fluctuate, but it does mean that even in the worst of economic times, somebody's buying and somebody's selling.
