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NORWALK, Conn., April 12, 2019 (GLOBE NEWSWIRE) -- Tens of thousands of real estate industry professionals have been sourcing RISMedia, publisher of Real Estate magazine, for its recent analysis of the ranking and research results of RISMedia’s 31st Annual Power Broker Report Top 500 since its release last month, and now, the real estate media company has released an expanded ranking of the Top 1,000 brokerage firms through a new interactive online directory.
Filled with interactive research charts, year-over-year data for two years and detailed Power Broker profiles, the innovative, dynamic directory allows visitors to search the Top 1,000 Power Brokers by sales volume, company name, brand, transaction rank, and more.
Collectively, the Top 1,000 Power Brokers earned $1,424,776,652,825 in sales volume and closed 3,881,412 transactions in 2018, and encompass more than 515,600 agents in over 8,500 offices in the U.S.
The majority of brokerage firm participants reported the same sentiment: balance. According to 49 percent of respondents to the survey, there is "balance" in the housing market today, despite headwinds including the inventory shortage, a challenge for the majority of respondents, at 49 percent, and "economic uncertainty," a concern for 25 percent of respondents, representing a steep uptick from 1 percent in 2018.
The balance is echoed in the fact that there are not one, but two No. 1 Power Brokers this year: NRT LLC, No. 1 for sales volume, at more than $176.4 billion; and HomeServices of America, No. 1 for transactions, at over 346,600.
"Even with inventory and economic uncertainty as chief concerns amongst brokers, RISMedia's Power Brokers continued to prove resilient, closing a tremendous amount of transactions in 2018," says John Featherston, CEO and publisher of RISMedia. "We congratulate them on their continued success and Power Broker rankings."
Power Brokers Talk Trends
With the balance in the housing market, Power Brokers are diligently honing key strategies. The 2019 Power Broker Report contains exclusive insights from over 50 Power Brokers, including:
"[Focus on] strategic planning, accountability, being consumer-centric and being completely dedicated to the success of each of your agents and in a way that provides the greatest value to the consumers and clients we serve," says Gino Blefari, CEO of HomeServices of America, No. 1 in transactions this year.
"Preparation is the key to success," says Helen Hanna Casey, CEO of Howard Hanna Real Estate Services, No. 3 in transactions this year. "Our goal is to make sure that our agents have differentiators to overcome objections and fulfill client needs, as well as the knowledge to make the best use of those resources. Real estate is a people business, and our leadership is key. They work with the agents to set goals, establish plans and bring them to fruition. Together, we can do great things."
"There are a million real estate companies and a million different models," says Dottie Herman, CEO of Douglas Elliman Real Estate, No. 4 in sales volume this year. "You should stand out in the crowd. You can't be everything to all. Come up with your own competitive advantage and differentiate yourself. Drive your message. Our competitive advantage is that we have the most marketshare and the highest percentage of top agents."
"With developments in AI and data analytics, technology will assist real estate agents so that they can focus on serving clients," says Charlie Young, CEO and president of Coldwell Banker Real Estate, included with NRT, No. 1 in sales volume this year. "Technology will also streamline the home-buying process for consumers. The agents who really integrate these products into their business will see the biggest impact. The key point is that the technology will empower agents, not replace them. In this tight market, it's necessary for consumers to work with the best agents who have access to the best technology."
In addition to the directory online, the 2019 Power Broker Report is available in the April 2019 edition of RISMedia's Real Estate magazine, showcasing the Top 500 Power Brokers by volume.
RISMedia has published several articles breaking down the survey results and Power Broker insights:
RISMedia's 2019 Power Broker Report & Survey is sponsored by American Home Shield, Homes.com, HSA Home Warranty, Leading Real Estate Companies of the World® and Pillar To Post Home Inspectors.
Communications Director, RISMedia
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About RISMedia's 31st Annual Power Broker Report & Survey
RISMedia's 31st Annual Power Broker Report & Survey is based on an online survey of residential real estate brokerages in the U.S., conducted by RISMedia Jan. 15-Feb. 22, 2019. The survey ranks brokerages by closed sales volume and transaction sides in 2018. Brokerages must have had an individual, shareholder or entity with a minimum 50.1 percent ownership interest, inclusive of subsidiaries, complete the survey, and have had their submissions verified by the associated broker and accountant, CFO or other party who can validate the accuracy of the data submitted.
RISMedia was founded in 1980 by CEO and Publisher John E. Featherston as the residential real estate industry's definitive source for news and information for real estate's most profitable and productive professionals. For over 35 years, RISMedia has provided the industry with news, trends, and strategies through Real Estate magazine and RISMedia.com, its blog, Housecall, and its renowned networking and educational events, including RISMedia's Real Estate CEO Exchange; the Newsmakers Awards, Reception & Dinner; and the Power Broker Forum, Reception & Dinner.