NRT LLC, a part of Realogy Corp., ranked as the top residential real estate brokerage company in the nation in sales volume and transactions in 2007, real estate research and publishing company Real Trends has announced.
NRT, based in Parsippany, N.J., oversees company-owned real estate operations for Realogy, a company that is also a major franchiser of brands including Century 21, Coldwell Banker, ERA Real Estate and Sotheby’s International Realty. In 2007, Realogy-affiliated agents participated in about 25 percent of all home-sale transactions that involved a broker.
The Real Trends 500 list ranks the top 500 brokerage companies that supply information about their total sales volume and the number of transaction sides in 2007. A real estate transaction involves two sides: the seller’s side and the buyer’s side, with a separate real estate commission typically paid to the broker involved on each side of the transaction.
NRT reported 326,323 total transaction sides in 2007 and $174.2 billion in transaction volume. That represents about 2.9 percent of all transaction sides for resale homes, based on a National Association of Realtors report of 5.65 million total sales of resale homes and 11.3 million transaction sides in 2007.
In a financial statement earlier this year, Realogy reported that NRT had 325,719 closed transaction sides in 2007, while Realogy franchisees closed 1.22 million transaction sides.
The company also reported that about 308,000 sales associates operated under its franchise brands internationally as of Dec. 31, 2007, and NRT had 56,000 sales associates at that time.
NRT’s sales volume represents about 5.7 percent of the total sales volume for resale homes in 2007, based on NAR’s reported $266,000 average sales price last year, which amounts to $1.5 trillion in sales of resale homes last year.
Minneapolis-based HomeServices of America Inc., a network of real estate brokerage companies that is part of billionaire Warren Buffet’s Berkshire Hathaway Inc., was second on the Real Trends list in both transaction sides and sales volume in 2007. HomeServices companies participated in 152,826 transaction sides and had sales volume of $50.05 billion.
The Long & Foster Cos. Inc., based in Fairfax, Va., was third with 86,547 transaction sides and $33.96 billion in sales volume in 2004.
Memphis-based Crye-Leike Realtors ranked fourth in transaction sides and 15th in sales volume; Coldwell Banker United, Realtors of Bryan, Texas, was fifth in transaction sides and ninth in sales volume; Prudential Fox & Roach Realtors of Devon, Pa., was sixth in transaction sides and sales volume; and Hanna Holdings Inc. of Pittsburgh, Pa., was ranked seventh in transaction sides and 14th in sales volume.
Allen Tate Co. of Charlotte, N.C., was eighth in transaction sides and 11th in sales volume; RealtyUSA of Orchard Park, N.Y., was ninth in transaction sides and 30th in sales volume; and the company-owned operations of GMAC Real Estate ranked 10th in transaction sides and fifth in sales volume in 2007.
Manhattan’s Prudential Douglas Elliman Real Estate was fourth in sales volume in 2007 and 18th in transaction sides; Alain Pinel Realtors Inc. of Saratoga, Calif., was seventh in sales volume and 65th in transaction sides; Seattle-based John L. Scott Real Estate was eighth in sales volume and 12th in sides; and Coldwell Banker Bain Associates/Barbara Sue Seal Properties was 10th in sales volume and 22nd in transaction sides.
There were 149 RE/MAX offices among the top-500 brokerage companies for transaction sides in 2007, with a total of 319,367 transaction sides among all of these offices. Also, there were 126 RE/MAX offices among the top-500 companies in sales volume, and these offices combined for a sales volume of $86.07 billion in 2007.
Forty-eight Prudential offices on the top-500 list combined for $79.96 billion in sales volume last year, and 49 Prudential offices combined for 216,367 transaction sides.
Seventy-one Coldwell Banker franchise offices combined for 228,809 transaction sides in the Real Trends 500 list, while 55 Coldwell Banker offices combined for $46.84 billion in sales volume.
There were 89 Keller Williams franchise offices that made the top-500 list in transaction sides and 90 offices n the top-500 list for sales volume. The offices had 202,130 transaction sides and $49.63 billion in sales volume last year.
Of the top-500 companies in transaction sides, 35 are based in California, 33 in Illinois, 30 in Florida, 27 in Pennsylvania, 26 in Colorado and 24 in Michigan.
Real Trends 500, largest brokers ranked by transaction sides in 2007
| Rank |
Company |
Transaction sides |
|
1 |
NRT LLC |
326,323 |
|
2 |
HomeServices of America Inc. |
152,826 |
|
3 |
The Long & Foster Companies Inc. |
86,574 |
|
4 |
Crye-Leike Realtors |
28,849 |
|
5 |
Coldwell Banker United, Realtors |
27,953 |
|
6 |
Prudential Fox & Roach Realtors |
26,766 |
|
7 |
Hanna Holdings Inc. |
26,545 |
|
8 |
Allen Tate Company |
23,007 |
|
9 |
RealtyUSA |
20,690 |
|
10 |
GMAC Real Estate – Company Owned Operations |
19,844 |
|
11 |
Ebby Halliday, Realtors |
17,654 |
|
12 |
John L. Scott Real Estate |
17,381 |
|
13 |
Keller Williams Realty |
15,964 |
|
14 |
Realty Executives, Phoenix |
14,020 |
|
15 |
ZipRealty |
13,962 |
|
16 |
Real Estate One |
13,891 |
|
17 |
RE/MAX Greater Atlanta |
13,876 |
|
18 |
Prudential Douglas Elliman Real Estate |
13,781 |
|
19 |
RE/MAX Equity Group Inc. |
13,462 |
|
20 |
Baird & Warner Inc. |
13,133 |
Real Trends 500, largest brokers ranked by sales volume in 2007
| 1 |
NRT LLC |
$174,200,000,000 |
|
2 |
HomeServices of America Inc. |
$50,047,184,346 |
|
3 |
The Long & Foster Companies Inc. |
$33,962,495,086 |
|
4 |
Prudential Douglas Elliman Real Estate |
$13,909,956,123 |
|
5 |
GMAC Real Estate-Company Owned Operations |
$13,168,180,170 |
|
6 |
Prudential Fox & Roach Realtors |
$10,351,373,983 |
|
7 |
Alain Pinel Realtors Inc. |
$7,183,479,742 |
|
8 |
John L. Scott Real Estate |
$6,913,742,651 |
|
9 |
Coldwell Banker United, Realtors |
$6,127,446,155 |
|
10 |
Coldwell Banker Bain Assoc./Barbara Sue Seal Properties |
$6,101,181,201 |
|
11 |
Allen Tate Company |
$5,553,852,336 |
|
12 |
William Raveis Real Estate Inc. |
$5,500,000,000 |
|
13 |
Prudential Connecticut Realty |
$5,082,000,000 |
|
14 |
Hanna Holdings Inc. |
$5,067,490,928 |
|
15 |
Crye-Leike Realtors |
$5,011,670,493 |
|
16 |
First Team Real Estate |
$4,809,090,000 |
|
17 |
Ebby Halliday, Realtors |
$4,802,904,000 |
|
18 |
Baird & Warner Inc. |
$4,700,000,000 |
|
19 |
ZipRealty |
$4,615,548,000 |
|
20 |
RE/MAX Equity Group Inc. |
$4,443,947,317 |
Source: Real Trends
***
What’s your opinion? Leave your comments below or send a letter to the editor.
