In April, Roger Ewing, owner of three Sotheby’s International Realty offices in Los Angeles’s San Fernando Valley, took meetings with six of his top-producing agents, only to learn they were all quitting to join a competitor. “They put me out of business,” said Mr. Ewing. Ultimately, 15 agents left, stripping the company of its top 25% of producers, which “took all the profit out of the company and put me in the red,” said Mr. Ewing. Having closed two of his offices in July and the third last month. Mr. Ewing is now working...

Source: Wall Street Journal March 29, 2018 13:52 UTC