How do some firms grow regardless of the housing market dynamics? HousingWire Research looked at key performance metrics and interviewed owners and operators of the RealTrends Verified GameChangers to find out the strategies that led to their growth.
From the pandemic-fueled frenzy to the sobering reality of a post-pandemic slowdown,, real estate brokerages were locked in a relentless quest for growth—eager to expand market share while trimming operational fat. Yet, despite their best efforts, many found themselves thwarted by a perfect storm of low inventory and soaring interest rates, leaving their ambitions grounded.
However, RealTrends GameChangers defied the odds and outperformed their peers. These brokerages grew their transaction sides significantly during the five-year span of 2019 to 2023, some by as much as 727% (United Real Estate). For this report, we looked at key performance metrics and interviewed owners and operators to find out the strategies that led to their growth. Some did a series of acquisitions in one or two of the years we looked at, others revamped their organic growth strategy to bring on a staggering number of new agents.
“We note that there is a mix of models in these GameChangers,” said Steve Murray, senior advisor for HousingWire. “As such, the strategies and tactics of each model differ somewhat from others. The way that Monument Sotheby’s has grown is different from the way Samson Properties or HomeSmart pursued growth. What is not different is each has a plan for growth that is at the heart of their every day activities.
“While many talk about the growth of lower-cost brokerage models, they are not the only ones growing. If recruiting and developing agents was only about low cost, most traditional models would be out of business, but they’re not. This year’s GameChangers show, even higher-cost, more traditional firms, are attractive to many agents. My thought is they will continue to be so,” said Murray.
RealTrends Verified has been tracking key measurements in the residential real estate industry since 1987. The RealTrends Verified 500 is our annual ranking of the nation’s largest residential brokerage firms ranked by both closed transaction sides and closed sales volume.
From that ranking, we identify companies that grew the most by transaction side percentage over a five-year period. In this case, 2019 to 2023 (the most current year for which we have data.)
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