CASTLE ROCK, Colo., March 31, 2017 /PRNewswire/ -- REAL Trends, the trusted source for news and research about the real estate brokerage industry, announced the results of the 2017 REAL Trends 500, an independently verified compilation of the Nation's leading residential real estate companies.
According to a research report produced by REAL Trends, the 500 largest residential real estate brokerage firms in the nation closed over 3.1 million residential sales transactions in 2016. These transactions represent over one-third of all new and resale transactions completed by brokers during the year, yet the REAL Trends 500 represented less than one-half of one percent of all brokerage firms. The 500-ranked brokers closed 3.1 million home transactions with a value of over $1.0 trillion during 2016, up from $935 billion in the calendar year 2015.
This year's survey represents the most comprehensive collection of data assembled on the leaders of the residential brokerage industry. Numbers are documented by outside accounting firms.
"Housing sales in the Nation were up 4.9 percent in 2016 from 2015. The REAL Trends 500 firms were up 6.6 percent in the same period. For the third year in a row, the Nation's largest brokerage firms gained market share," said Steve Murray, president of REAL Trends. "This market-share growth is unusual in that 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 market environments."
It took 1,843 transactions to be included in this year's REAL Trends 500, up from a minimum of 1,702 transactions a year ago. In 2015, there were 209 firms recording over $1 billion in residential sales while there were 235 firms that accomplished this in 2016.
NRT, LLC led the REAL Trends 500 as the largest residential brokerage company in the country. The firm closed 337,780 transactions in 2016. Owned entirely by Realogy, NRT, in Madison, New Jersey, acquires residential real estate brokerage firms and operates them as affiliates of Coldwell Banker, Sotheby's International Realty, The Corcoran Group, Zip Realty and Climb Real Estate.
Number two on the list of the Nation's largest firms is HomeServices of America Inc., headquartered in Minneapolis, Minnesota, with 245,154 closed transaction sides. Number three on the list is Hanna Holdings, in Pittsburgh, Pennsylvania, with 90,016 transactions and number four was Chantilly, Virginia-based Long & Foster Companies, Inc., with 81,032 transactions.
To view the rankings, go to https://www.realtrends.com/rankings/rt500. To purchase a copy of the 2017 REAL Trends 500 publication, go to https://www.realtrends.com/store/index.php?route=product/product&product_id=113.
About REAL Trends: REAL Trends has been The Trusted Source for news, analysis and information about the residential real estate industry since 1987. We are a privately-held publishing, communications and consulting company based in Castle Pines, Colorado. Residential real estate leaders find timely and trusted information and analysis through our yearly event—Gathering of Eagles—our monthly newsletter and other publications.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/real-trends-500-report-ranks-nations-largest-real-estate-firms-300432248.html
SOURCE REAL Trends