Innovation and Globalization Define Top Residential Real Estate Brokerages and Portals
The top residential real estate companies and portals are achieving global reach through the embrace of cloud-based technology and franchising. In a sign of the times, these volume businesses are leveraging modern technological advancements to accomplish more than sales goals and to leave a legacy of lasting social impact across the globe. The growth of companies like the Zillow Group, Inc. (NASDAQ: Z), Realogy Holdings Corp. (NYSE: RLGY), RE/MAX Holdings, Inc. (NYSE: RMAX), Berkshire Hathaway Inc. (NYSE: BRK.A) / HomeServices and eXp World Holdings, Inc. (OTCQB:EXPI) corresponds with this cycle. By implementing novel infrastructure, agent ownership structures, and aligning the goals of their agencies with those of their agents and brokers, these companies have developed comprehensive and uniquely different value propositions for real estate professionals.
The 2017 Swanepoel Power 200 (SP200) list (http://nnw.fm/R6VqY) recently ranked the 200 most powerful people in the residential real estate brokerage business, and, judging by their growth numbers, all of these leaders have hit a sweet spot in the industry.
Zillow Group (NASDAQ: Z) CEO Spencer Rascoff is first on the SP200 list with five other management team members spread throughout the list. Over the course of his seven-year tenure, Zillow’s market cap has risen to $6.5 billion; its team members have built and now oversee the world’s most popular real estate site (http://www.zillow.com); and, following the acquisition of Bridge Interactive Group, the company is developing a comprehensive data management platform with a focus on bringing leads and clients to agents, agent teams and brokerages.
Realogy Holdings (NYSE: RLGY) – the global leader in residential real estate franchising – holds three spots on the list, with its chairman, CEO and President Richard Smith coming in second. For close to 20 years, Smith has led Realogy along a stable, assertive path. The firm currently manages some of the United States’ largest brokerages and seven major brands representing more than 270,000 agents, and it brings in more than $5.7 billion in revenue on a yearly basis. Recently, the company has been integrating technology through the acquisition of Zip Realty to its various operating franchises.
Dave Liniger occupies the fifth spot on the SP200 list and shares the spotlight with 10 other C-suite executives from RE/MAX (NYSE: RMAX). After co-founding RE/MAX in 1973, Liniger returned in 2015 as chairman and CEO of the company and continued to push it to thrive. The publicly owned firm, which has over 110,000 agents in 95 countries and territories completing over one million transactions annually, saw its market cap more than double in 2016 and surpass $1 billion.
The SP200 list also highlights Gino Blefari, who manages HomeServices of America’s franchise network HSF Affiliates, and six of his colleagues. HSF Affiliates serves more than 46,000 agents signed with Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living real estate brands. The firm has 1,500 affiliate offices handling 352,000 annual transactions totaling over $105 billion in annual sales.
As with Zillow, Realogy, RE/MAX and Berkshire Hathaway (NYSE: BRK-A) HomeServices, eXp Realty– a subsidiary of eXp World Holdings– is steadily and insistently carving out its share of the residential real estate industry by implementing a cloud-based approach using everything from Virtual Worlds for business to partnerships with some of the strongest technology players for top performing real estate agents and teams.
eXp Realty founder and CEO of eXp World Holdings, Glenn Sanford is ranked No. 140 on the SP200 list and has led the company and its up-and-coming subsidiary, eXp Realty, to become one of the fastest growing real estate brokerages in the United States with a focus on using the cloud for collaboration and community, all while removing most of the expenses related to bricks and mortar offices.
The company, which records $1.8 billion in annual sales, was founded in October 2009, structured with a revenue sharing program that rewards agents a percentage of the gross commission income earned by fellow real estate professionals they have introduced to the company.
eXp Realty’s practice of sharing revenue and equity with the company’s agents and brokers propelled it to an expedited rate of growth and retention. As of year-end 2016, eXp Realty had nearly tripled its family of agents and brokers from 864 to more than 2,400 across 42 U.S. states, Washington D.C., and parts of Canada.
Over time, eXp Realty has become the brokerage of choice for high-performing agents and teams, as well as for brokerage owners seeking to raise profits, reach scalable growth, and provide the opportunity of ownership to agents in their organization-a disruptive shift from the typical relationship between agent and brokerage.
For more information on eXp World Holdings, Inc. (EXPI) please visit: eXp World Holdings
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