REAL Trends, the trusted source for news, research and information 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 recent 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 calendar year 2015.
Included in the REAL Trends 500 is Shorewest, REALTORS® headquartered in Brookfield, Wisconsin. Shorewest ranked number 32 in the REAL Trends 500 with 12,883 residential transaction sides closed last year. The American Dream of homeownership is something Shorewest helps Wisconsin families achieve every day.
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 which was a slower growth rate than the previous year. The REAL Trends 500 firms were up 6.6% 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. “As we commented last year 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 markets.”
It took 1,843 transactions to be included on 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. It was an incredible year for the nation’s leading residential real estate brokerage firms,” said Murray.