Real Estate Insiders Unfiltered Who Survives the Real Estate Recession?
Mar 18, 2026
Jack Miller, President and CEO of T3 Sixty, a research firm on residential brokerages and industry trends. He discusses which brokerages endure market slowdowns and what separates durable businesses from fragile ones. Topics include brokerage and MLS consolidation, AI and data governance, mortgage companies buying brokerages, and where to invest and recruit during a downturn.
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Agent Career Intent Explains Brokerage Fit
- Agents sort into firms by career intent: some prioritize unit economics and keeping more per deal, others prioritize total income and volume.
- High-volume agents demand full-service support (assistants, coordinators) while low-volume agents accept admin work to keep higher splits.
Choose A Brokerage Based On Career Stage
- Match brokerage choice to your career stage: novices need broker-fed opportunities and sales skills; veterans need staff and systems to offload operations.
- Jack advises Reese (a new agent) to seek training and lead flow early, then staff later.
MLS Scale Determines Data Value
- MLS consolidation is accelerating (below 500 MLSs) and scale matters because aggregated MLS data becomes valuable only when large enough.
- Bigger MLSs can monetize data, share residuals with brokers, and offer AI-ready products.