Online brokerage ZipRealty completed 34.6 percent more transaction sides in 2009 than in 2008, bumping it up to the fifth-largest brokerage ranked by real estate publishing and communications company Real Trends. ZipRealty had previously ranked ninth in transaction sides.
Real Trends ranks the country’s 500 largest brokerages each year by transaction sides (in every real estate sale there are two transaction "sides": the buyer’s side and the seller’s side) and closed sales volume.
The more than 1,100 companies who applied to be considered were required to submit data that has been verified by a franchise’s corporate headquarters or the company’s outside accounting firm.
RISMedia‘s 2010 Power Broker Report ranked the top 300 brokerages by transaction sides and sales volume in its April magazine issue. The report had largely identical rankings as those reported by Real Trends. RISMedia has similar requirements for independent verification of data.
According to RISMedia, the more than 1,200 brokerages that company evaluated reported a 5.7 percent increase in transaction sides between 2008-09 — from 2.3 million to 2.5 million. At the same time, the company reported a 21.8 percent decrease in total sales volume — from $749.2 billion to $585.5 billion.
According to the Real Trends report, in 2009 more than half of the top 25 companies handled fewer sides and most saw a drop in sales volume. The only brokerage in the top 25 to see an increase in both transaction sides and volume from 2008 was ZipRealty.
"We are excited about our continued growth. Our agent teams plus our innovative technology for clients and agents delivered increases in both sales volume and transaction sides last year," said Leslie Tyler, ZipRealty’s vice president of marketing.
ZipRealty completed 23,100 sides in 2009 compared with 17,156 in 2008, a 34.6 percent gain. Watson Realty Corp. in Jacksonville, Fla., was second with a 19.2 percent increase.
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ZipRealty also rose in the rankings for closed sales volume — to seventh in 2009 from 10th in 2008 — with the highest growth rate in that category. ZipRealty’s closed sales volume rose to $5.3 billion in 2009 from $4.6 billion in 2008, a 14.1 percent gain, according to the report.
In ZipRealty’s 2009 annual report, buoyed by a corresponding 14.1 percent jump in revenue, ZipRealty reported a net loss of $12.9 million, down from $13.3 million in 2008, according to Real Trends.
The online brokerage was one of only three in the top 25 to see increased sales volume. First Team Real Estate broke into the top 10 at ninth place, rising from 13th place. That brokerage saw its sales volume rise 10.5 percent. Intero Real Estate Services broke into the top 25 with an increase of 7.1 percent in sales volume.
The top four largest brokerages in each category were unchanged from last year, though each saw its sales volume fall. NRT Inc., which operates company-owned Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby’s International Realty and The Corcoran Group offices for parent Realogy Corp., was at the top for both sales volume and transactions sides for the 13th straight year.
The company’s sales volume fell 18.9 percent in 2009 from $132 billion to $107 billion. Its transaction sides were essentially flat, falling 0.5 percent, to 274,179.
At No. 2 for both categories was HomeServices of America, with a 9.3 percent drop in sales volume, to $33.8 billion. The brokerage’s sides also remained virtually flat, inching up 0.1 percent to 123,817.
The Long & Foster Companies ranked third for both categories. Its sales volume fell 10.7 percent, to $22.9 billion. It had 3.3 percent fewer transaction sides in 2009 (69,925).
Hanna Holdings saw a 2.3 percent decrease in transaction sides, but remained fourth in the rankings. Hanna Holdings slipped one place, to eighth in the sales volume rankings, Real Trends reported.
Prudential Douglas Elliman remained in fourth place in sales volume and 16th for transaction sides. The company’s sales volume sank 25.7 percent in 2009, to $8.6 billion. Its completed transaction sides fell 6 percent to 11,009.
Among the fastest risers in the top 25 brokerages for transaction sides were Baird & Warner (from No. 18 to No. 13), RE/MAX Results (from No. 24 to No. 19), Real Estate One (No. 13 to No. 10), and Realty Executives, Phoenix (No. 14 to No. 11).
For total sales volume, Baird & Warner rose from No. 19 to No. 15, followed by Realty Executives, Phoenix (No. 21 to No. 18); Crye-Leike Realtors (No. 16 to No. 13); and William Raveis Real Estate (No. 14 to No. 11).
Real Trends Rankings for Top 500 Real Estate Brokerages:
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Ranked by 2009 closed transaction sides |
Ranked by 2009 closed sales volume |
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1. NRT LLC |
1. NRT LLC |
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2. HomeServices of America Inc. |
2. HomeServices of America Inc. |
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3. The Long & Foster Companies Inc. |
3. The Long & Foster Companies Inc. |
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4. Hanna Holdings Inc. |
4. Prudential Douglas Elliman Real Estate |
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5. ZipRealty Inc. |
5. Prudential Fox & Roach Realtors |
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6. Crye-Leike Realtors |
6. Alain Pinel Realtors Inc. |
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7. Coldwell Banker United, Realtors |
7. ZipRealty Inc. |
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8. Prudential Fox & Roach Realtors |
8. Hanna Holdings Inc. |
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9. Realty USA |
9. First Team Real Estate |
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10. Real Estate One |
10. Coldwell Banker United, Realtors |
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11. Realty Executives, Phoenix |
11. William Raveis Real Estate Inc. |
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12. Ebby Halliday Real Estate Inc. |
12. Ebby Halliday Real Estate Inc. |
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13. Baird & Warner |
13. Crye-Leike Realtors |
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14. West USA Realty Inc. |
14. John L.Scott Real Estate |
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15. Allen Tate Companies |
15. Baird & Warner |
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16. Prudential Douglas Elliman Real Estate |
16. Coldwell Banker Bain & Coldwell Bnkr.Barbara Sue Seal Prop |
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17. Hunt Real Estate Corporation/ERA |
17. Intero Real Estate Services |
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18. RE/MAX Alliance |
18. Realty Executives, Phoenix |
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19. RE/MAX Results |
19. Prudential California/Nevada Realty |
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20. John L.Scott Real Estate |
20. Prudential Connecticut Realty |
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21. First Weber Group |
21. Allen Tate Companies |
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22. RE/MAX Gold |
22. West USA Realty Inc. |
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23. Keller Williams Realty – Dallas |
23. RE/MAX Allegiance |
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24. Watson Realty Corp. |
24. Realty USA |
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25. Shorewest, Realtors |
25. RE/MAX Alliance |
Source: Real Trends 500.
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