REAL Trends, a source of news, analysis and information on the real estate market, just released its annual survey of the top 500 real estate firms in the country. Considered to be the most comprehensive data collection resource of leading real estate companies around the nation, REAL Trends 500 gives us real insight into the numbers and dollar totals of residential transactions for the year 2016.
The REAL Trends 500 data is staggering…of these 500 largest brokerages, only 1/2 of 1% of all brokerage firms in the country, closed 1/3 of all transactions in the country! 235 of these largest firms reported transactions totaling over $1 Billion in 2016. (In 2015, only 209 largest firms reported transactions totaling +$1B.) All together, the total value of these transactions exceeded $1 Trillion Dollars…up from $935B in 2015. Compared with the national increase of 4.9% in housing sales in 2016, REAL Trends 500 housing sales increased by 6.6% in 2016.
“This market share growth is unusual,” says Steve Murray, president of REAL Trends. “Historically, larger firms lose market share in robust markets. Clearly, America’s largest brokerage firms have figured out how to grow their share in all kinds of environments.”
The top four of these 500 largest real estate brokerage firms nation-wide include:
- NRT, LLC owned by Realogy, NRT in Madison, NJ reported closing 337,780 transactions. This outfit acquires and operates ancillary firms as affiliates of Coldwell Banker, Sotheby’s International Realty, the Corcoran Group, Zip Realty and Climb Real Estate. This is the 20th consecutive year that this family of real estate services companies has been ranked #1 by REAL Trends 500 and the 18th consecutive year it’s been ranked #1 by RIS Media Power Brokerage Reports
- Home Services of America, Inc. in Minneapolis, MN reported 245,154 transactions. This company is under the umbrella of Berkshire Hathaway and the largest brokerage owned provider of real estate resettlement services.
- Hanna Holding in Pittsburgh, PA, founded in 1957 and now the fourth largest family owned company, reported 90,016 closed transactions. This real estate and management services company does business as Reliance Construction.
- Long and Foster Companies, based in Chantilly, VA and founded in 1968, reported 81,032 transactions. Cutting edge technology, marketing, media and “old fashioned” networking are fundamental to its success.
(REAL Trends 500 has outside, neutral accounting firms document its data and numbers collections.)