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‘The night is the darkest before the dawn’

It’s been mostly doom & gloom on the residential brokerage landscape over the past 6 months: layoffs, tanking stocks, spiking interest rates and a sluggish market. But a new year has come with some new hope. As the saying goes, ‘The night is the darkest before the dawn.’

Brokerages, forced to come to terms with the harsher realities of the market, took some big moves in the second half of ’22 to get costs in line and pull the plug on ambitious but risky ventures, and Wall Street has noticed. Shares for many of the major resi firms are up significantly so far this year.

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