Cloud-based brokerage iad lands in the US
The French company has over 20,000 agents across Europe and Mexico, and now it’s ready to stake a claim in the lucrative U.S. market.
The Paris-based iad Group has touched down in the U.S. market. The brokerage announced its entry this week, and will initially operate in Florida but seeks to expand from there.
Who is iad? With over 20,000 independent agents across Europe and Mexico, iad is one of the larger cloud-based brokerages outside of the U.S. They have 450 employees in 8 countries, and their turnover last year was €536 million ($567 million), according to their website.
Why now? The cloud-based brokerage model with a revenue-share system — think eXp and Real, for example — has become a popular (and proven) formula for success: eXp increased profits and agent count in Q2, and Real has seen a surge in both revenue and agents in the past year. For iad, there is a big opportunity to get a slice of the pie in the lucrative U.S. market.
"iad offers a unique opportunity to be part of something special from the ground up," said Chris Pflueger, the newly appointed Florida managing director. "The chance to help a well-established overseas company expand and thrive in the U.S. market is truly appealing."
Why does it matter? Competition for new agents is fierce among top brokerages as home sales and transactions continue to plummet in a down market. iad makes its entry as other major cloud-based brokerages fine-tune their revenue share systems and tweak recruiting language and best practices.
"Our goal is for iad Florida to become the preferred real estate brokerage across the state for both agents and clients," Pflueger said. "We will achieve this simply by being the most attractive company for agents, based on genuine support and our unique revenue sharing approach."
What's the pitch? Part of the sales pitch for brokerages like iad is the combo of low operating costs, better commission splits and additional income via revenue share. But iad says it also offers something a little different than the others.
"What sets iad apart is its distinctive model that allows agents to grow their own organizations while also offering unlimited earning potential from their teams, all complemented by a retirement component," said Dave Courtney, iad's Head of Constellation in the Orlando market, adding that iad "provides a fantastic alternative for agents interested in team building or starting their own brokerage without burdensome expenses and overhead."
Courtney also pointed to additional perks the company offers, including "invaluable mentorship, training, and access to the industry's leading technology stack, placing everyone in a position to succeed."