The recent pandemic was a major hit to the real estate industry, reducing the incoming cash flow significantly. However, with the pandemic having almost subsided, real estate firms across the globe have rebounded.
Let’s delve a little deeper into how the industry works to try and understand its current state better. The complex, yet diverse industry involves a lot of moving parts, from brokers, agents, and developers, to property managers, landlords, and trusts. As a result, it depends heavily on the economy, and in turn, pours quite a bit of money into the economy.
In fact, the global real estate industry annual revenue figures have climbed, having generated around 3.69 Trillion USD in 2021. This revenue is primarily driven by the top real estate companies in USA. They hold control over a significant chunk of the real-estate market, and their decisions can affect the industry directly.
To know more about the US based top real estate companies, read on!
Top 10 real estate companies in the USA
The following list includes the best real estate companies in USA:
1. Re/Max
RE/Max, or Real Estate Maximums, is one of the top real estate firms with a global presence. Being founded in 1973, the company has been around for decades. With almost 50 years of history in the real estate market, the company is considered to be one of the best real estate companies in USA.
The company follows a franchise format that goes by many names, such as RE/Max Prestige and RE/Max Allegiance.
It has a formidable employee size, with almost 144,000 real estate agents globally, not just in the U.S. The company revenue reported in the third quarter of 2022 was $88.9 million, and the fourth quarter of 2022 was $81.3 million.
The company is known to have continuously outperformed its competitors in terms of selling properties for more than a decade. The brand has a key role to play in the post-pandemic housing market. A recent survey conducted by the brand states that everyone from Gen Z to Baby Boomers has the wish of owning their dream home. According to Nick Bailey, president and CEO of RE/MAX, LLC, “no matter the macro-economic conditions, Americans will continue to buy and sell millions of homes.”
2. Keller Williams Realty
Keller Williams Realty is perhaps one of the biggest and best real estate companies in USA.
Established by Gary Keller and Joe Williams in 1983, the international real estate firm has proven its dominance in the industry. Keller Williams Realty has outgrown its competition, according to RealTrends 500.
The company is one of the top real estate companies in USA and the largest real estate technology franchise. It has an agent count of 173,274 in the United States and Canada and 14,847 agents outside.
In total, the organization hosts about 188,121 real estate agents around the world. Despite the pandemic’s hit on the real estate market, the panelists at Keller predicted about 5.9 million single-family home sales in 2021. The company has also increased its number of agents by 9% after COVID.
3. Redfin
Redfin Corporation is a comparatively newer company, established in 2002 in Seattle, Washington.
The company takes a unique approach to operating that distinguishes it from the rest. Redfin connects buyers and sellers through local agents based on market needs.
Unlike other top real estate firms, the company pays its agents a fixed salary instead of the usual commission. As a result, customers pay less on commission, saving about $8200 on the average transaction and more than $1 billion in overall commissions.
With this business model, the company was able to generate a revenue of $479.7 million in the fourth quarter of FY 2022.
One of the most interesting things about Redfin is that it allows access to consumers through its online platform. This has changed the way the average person in the U.S. hunts houses. However, first COVID, and now the recession has hit the US real estate market. This creates some unpredictability about the future of the housing market. But with online real estate agents becoming more popular, the company seems more than able to handle all adversities.
4. Coldwell Banker Realty
Coldwell Banker Real Estate LLC is one of the oldest among the top real estate companies in USA. Started in 1906 by Colbert Coldwell, a real estate agent himself, the San Francisco-based company represents an ethical real estate industry.
The company has agencies in almost every country, with about 3000 offices across 49 countries. As a result, it has established itself as the most authoritative residential real estate franchise system in North America.
The company is currently run by Liz Gehringer, President of Coldwell Banker Affiliate Business and COO, and David C. Marine, CMO. In terms of the uncertainties raised due to the COVID pandemic, the company has shifted its focus to more upgraded smaller offices instead of outdated buildings. Along with the application of advanced tech systems, this has fetched profit for the business.
Coldwell Banker reported having a sales volume of more than $6.2 billion in the third quarter of 2022. It is a significant mark of the overall brand power of the company.
5. Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices is one of the top real estate companies in USA, owned by none other than renowned billionaire investor Warren Buffett.
The company was acquired by the “Oracle of Omaha,” when he took the position of the CEO of the company. This eventually became a source for the stalwart to park his billions of dollars.
The company generated a profit of $30.8 billion in 2022 despite the rising inflation issue in the U.S. On this occasion, Buffett wrote an inspiring letter to the shareholders of the company, in which he said,
“We count on the American Tailwind, and though it has been becalmed occasionally, its propelling force has always returned.”
According to Mark Pasquesi, President at Berkshire Hathaway HomeServices Chicago, 2023 is going to be “a real estate market” post COVID.
6. Douglas Elliman
Founded in 1911, Douglas Elliman Inc is another important name among the 10 top real estate companies in USA.
Placed in 11 states in the U.S., including New Jersey, and New York, as well as highly expensive areas, like California and Colorado. It has an employee size of more than 7000 and 113 offices.
The company is also affiliated with the Knight Frank Brand, placing it among the best real estate companies in USA for prime and super-prime properties.
These are referred to as properties with world-class luxury features and exceptional standards. In short, the company deals in the top 5% of real estate in its operational areas. According to a report published by the company, its number of sales peaked after the pandemic was over, with apartment sales increasing by 2.1%.
7. eXp Realty
Next on the list of the top real estate companies in USA is eXp Realty, placed in Bellingham, Washington. The real estate brand has over 86,000 employees and boasts of being “the world’s first cloud-based brokerage.”
The company has been active in the real estate market since 2009 and prioritizes using technology to make buying and selling properties seamless. Simultaneously, it has reduced the costs of holding physical offices.
The organization operates in 24 countries other than the U.S. and is a reputed international brand. The brand is also considered the fastest-growing brokerage in the real-estate sector. In 2020, the company agents shifted to virtual tools to reduce exposure for clients due to the pandemic. But as the real estate market started getting normalized, the limited supply and huge demand surged the prices high.
eXp Realty is a publicly listed company enlisted in NASDAQ under eXp World Holdings Inc. In the third quarter of 2022, the company was able to grow to $1.2 billion, almost by 12% YOY. Simultaneously, its gross profit also increased to $93.1 million.
8. Sotheby’s International Realty
If Douglas Elliman is among the top real estate companies in USA dealing in luxury properties, Sotheby’s International Realty does not fall far behind.
While the name is associated with fine arts, the real estate franchise mainly focuses on marketing and brokering residential properties. Founded in 1976, the brand has long established a solid global impression alongside a penetrative local market.
Although based in New York, the brand has a presence in 81 countries with 1075 offices worldwide. Besides that, 26000 sales associates accompany the company’s success.
The real estate company generated $167 billion of annual sales in 2022 despite the interest rate hikes in the U.S. According to George Damianos, the company’s CEO, sales exceeded $1 billion within the first Q3 of 2022. In 2023, the company further expects an increase in the number of cash buyers, after three years of the pandemic.
9. EXIT Realty
EXIT Realty Corp. International, or EXIT Realty, has a fascinating origin story. The company was established by an ex-employee of RE/Max, Steve Morris, in 1996. Moreover, the real estate giant has taken inspiration from the 70/30 commission model of Keller Williams Realty.
The company strongly believes in the potential of human capital to ensure a customer-centric experience. It has also gone the extra mile to ensure the future of the families of its agents by paying $1.1 million to residuary beneficiaries.
This is not all. EXIT Realty also integrated management software called SkySlope, for digital transactions for its employees. The company has been able to cater to more than 450000 realtors in the U.S. and Canada with three million annual transactions. The company has been able to expand into seven more markets in 2023, according to recent reports.
10. Weichert, Realtors
Finally, on the list of 10 top real estate companies in USA is Weichert Realtors, established in 1969 in New Jersey. The company deals in residential and commercial properties and hosts more than 10000 agents.
The brand is well-known for providing an end-to-end one-stop solution to buyers, meaning it helps in locating, financing, and purchasing a property. The company also helps secure mortgages for buyers. Simultaneously, post-COVID, the company has come up with innovative solutions to avoid inventory selling and help employees sell faster.
In a Nutshell
There are many ways to decide which the top real estate companies in USA are. While revenues, sales, and brand presence often are determining factors, client loyalty and employee satisfaction also help a brand become established.
It also depends on the type of real estate business you cater to, since a luxury property dealer will operate differently than a standard residential realtor. Nonetheless, you need a robust contact database to engage these businesses and their decision-makers to boost your outreach.
The real estate market is undoubtedly a complex sector that relies on economic conditions to thrive. Despite the major setbacks it has faced in the previous years, the industry has been able to bounce back. The top real estate companies not only have a significant role in this, but they have also changed the paradigm and set new standards.
Now that you have a clear idea about the stalwarts of the U.S. real estate market, you can successfully reach out to them.