NORWALK, Conn., March 27, 2019 (GLOBE NEWSWIRE) -- After escalating home prices and affordability issues stoked talk of another housing bubble in 2018, sales flattened and inventory began a gradual return as the year progressed, leading the majority (49 percent) of respondents to RISMedia’s 31st Annual Power Broker Survey to describe their current markets as “balanced.”
RISMedia’s Annual Power Broker Report & Survey is the real estate industry’s longest-running ranking of U.S. residential real estate brokerage firms by both sales volume and transactions, brought to you by RISMedia, the leader in real estate information and publisher of Real Estate magazine.
RISMedia released its first round of the nation’s Top 500 brokerages today and will follow in early April with its complete list of the Top 1,000 U.S. brokerage firms, along with an interactive online directory. Read more insights and research and view the Top 500 firms here.
While a shortage of housing inventory is still the No. 1 challenge to business, according to Power Brokers, the percentage of respondents who feel this way has dropped from 71 percent in 2018 to 49 percent in 2019. Of rising concern this year, however, is “economic uncertainty,” ranked the No. 1 challenge to business by 25 percent of respondents, compared to just 1 percent of respondents last year.
This mix of positive indicators and uncertainty about the future led the majority of responding brokers (59 percent) to describe their confidence level in the residential real estate market as “cautiously optimistic.”
That said, the Top 1,000 still reported more than $100 billion in collective sales volume over 2017.
The Top 1,000 RISMedia Power Brokers of 2019 collectively earned $1,424,776,652,825 in sales volume and closed 3,881,412 transactions in 2018. They encompass more than 515,600 agents in more than 8,500 offices across the U.S.
“Even with inventory and economic uncertainty as chief concerns amongst brokers, RISMedia's Power Brokers continued to prove resilient, closing a tremendous amount of transactions in 2018," says John Featherston, CEO and publisher of RISMedia. "We congratulate them on their continued success and Power Broker rankings.”
Additional highlights from the 2019 Power Broker Report & Survey include:
- The average home-sale transaction amount for the Top 1,000 Power Broker firms in 2018 was $367,077.
- The majority of Power Brokers (37 percent) believe first-time homebuyers and millennials represent their greatest opportunity for business this year.
- The majority of Power Brokers (49 percent) believe the housing market is “balanced”; 27 percent believe it’s “growing.”
Here are the Top 30 Power Brokers by 2018 sales volume:
1. NRT LLC
2. HomeServices of America, Inc.
3. Compass
4. Douglas Elliman
5. Howard Hanna Real Estate Services
6. eXp World Holdings, Inc.
7. Alain Pinel REALTORS®
8. HomeSmart
9. William Raveis Real Estate, Mortgage & Insurance
10. Keller Williams Realty, GO Management Offices
11. @properties
12. John L. Scott Real Estate
13. RE/MAX Gold | Olson & Associates
14. RE/MAX Alliance | Equity Group
15. LIV/Sierra/Summit Sotheby's International Realty
16. RE/MAX Results
17. Pacific Sotheby's International Realty
18. Coldwell Banker Bain
19. Baird & Warner
20. Allen Tate Companies
21. Crye-Leike REALTORS®
22. Keller Williams Realty Pinnacle Partners Group
23. Real Estate One, Inc.
24. Keller Williams Realty Forward Management
25. First Team Real Estate
26. Berkshire Hathaway HomeServices Arizona/California/Nevada Properties
27. Rodeo Realty Inc.
28. The Keyes Company/Illustrated Properties
29. Keller Williams Realty - The Rawls Group
30. Keller Williams Realty - Cunningham Group
The Top 30 Power Brokers by 2018 transactions:
1. HomeServices of America, Inc.
2. NRT LLC
3. Howard Hanna Real Estate Services
4. eXp World Holdings, Inc.
5. HomeSmart
6. Compass
7. Keller Williams Realty, GO Management Offices
8. Crye-Leike REALTORS®
9. RE/MAX Results
10. Coldwell Banker The Real Estate Group
11. Real Estate One, Inc.
12. Douglas Elliman
13. Keller Williams Realty Pinnacle Partners Group
14. William Raveis Real Estate, Mortgage & Insurance
15. Allen Tate Companies
16. CENTURY 21 Affiliated
17. West USA Realty
18. @properties
19. Latter & Blum Companies
20. Baird & Warner
21. RE/MAX Alliance | Equity Group
22. Coldwell Banker Sea Coast Advantage
23. Berkshire Hathaway HomeServices The Preferred Realty
24. Keller Williams Realty The Haggard Group
25. RE/MAX Gold | Olson & Associates
26. John L. Scott Real Estate
27. Watson Realty Corp.
28. Keller Williams Realty - The Rawls Group
29. Coldwell Banker Schmidt Family of Companies
30. The Keyes Company/Illustrated Properties
Additional findings are available now on RISMedia.com.
To honor this year's Top 500 Power Brokers, RISMedia is hosting The Power Broker Reception & Dinner in San Francisco, Calif., in conjunction with the National Association of REALTORS® Conference & Expo, in November.
The Power Broker Report, including research, interviews with more than 50 leading brokers and the Top 500 Power Brokers ranked by sales volume, will be available in the April 2019 edition of RISMedia's Real Estate magazine, and on RISMedia.com.
The 2019 Power Broker Report & Survey is sponsored by American Home Shield, Homes.com, HSA Home Warranty, Leading Real Estate Companies of the World® and Pillar To Post Home Inspectors.
Media Inquiries:
Mike Dominguez
Communications Director, RISMedia
203-855-1234, ext. 150
mdominguez@rismedia.com
About RISMedia's 31st Power Broker Report & Survey
RISMedia's 31st Power Broker Report & Survey is based on an online survey of residential real estate brokerages in the U.S., conducted by RISMedia Jan. 15-Feb. 22, 2019. The survey ranks brokerages by closed sales volume and transaction sides in 2018. Brokerages must have had an individual, shareholder or entity with a minimum 50.1 percent ownership interest, inclusive of subsidiaries, complete the survey, and have had their submissions verified by the associated broker and accountant, CFO or other party who can validate the accuracy of the data submitted.
About RISMedia
RISMedia was founded in 1980 by CEO and Publisher John E. Featherston as the residential real estate industry's definitive source for news and information for real estate's most profitable and productive professionals. For over 35 years, RISMedia has provided the industry with news, trends, and strategies through Real Estate magazine and RISMedia.com, its blog, Housecall, and its renowned networking and educational events, including RISMedia's Real Estate CEO Exchange; the Newsmakers Awards, Reception & Dinner; and the Power Broker Forum, Reception & Dinner.