A special advance release of the Top 100 firms ranked in RISMedia’s 35th Annual Power Broker Report—exclusively for RISMedia Premier Members—shows that competition intensified for residential real estate’s largest players in a year that started out strong, thanks to the remnants of the pandemic boom, then dropped off at year end, as inflation and rising rates put a stranglehold on the market.
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With declines reported virtually across the board, the 2023 Power Broker Report reflects the rollercoaster ride that was the 2022 residential real estate market. Collectively, the Top 100 firms reported a more than $110B decrease in sales volume in 2022 over 2021. But while many struggled through the market shift, some seized the opportunity to gain ground, with Compass taking the No. 1 spot in sales volume and eXp Realty nabbing the top spot in transactions, a first in Power Broker Report history.
“We did cut some costs last year because the market was slowing down quite a bit, and outside of that, it was really about continuing to figure out what agents were looking for,” said eXp Realty CEO Glenn Sanford in an interview with RISMedia. “We shifted the language in the company in 2022 and 2023—we talked about it being about market share. We know that a lot of agents are going to leave the business, so what we can do is focus on market share versus agent count.”
In this special preview of RISMedia’s online Power Broker Directory, RISMedia Premier Members can see who else topped the charts in this unprecedented year, along with year-over-year statistics for five years for the Top 100 firms according to sales volume. RISMedia’s 2023 Power Broker Report is based on the results of its longstanding annual survey of the nation’s leading brokerage firms. Companies are primarily ranked according to sales volume and secondarily by transaction.
To join RISMedia’s Premier content service at a special reduced rate and gain access to the Top 100 Power Brokers, along with year-round high-level reporting and monthly in-depth reports, click here and enter the coupon code: 2023POWERBROKER. The Top 500 Power Broker firms will also be released in advance to Premier Members in the coming weeks, and the Top 1,000 firms will be available this April.
