Game On: Inventory Issues Can’t Stop Power Brokers—See Who Made the Top 500 in RISMedia’s 30th Annual Report
For the Power Brokers ranked in RISMedia’s 30th Anniversary edition of the Power Broker Survey, 2017 was a boom year. Combined, Power Brokers garnered a massive $1,314,358,548,496 in sales volume—a more than $100 billion increase from 2016—and 3,791,872 transactions.
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The figures are a manifestation of the real estate reality today. Close to three-quarters (71 percent) of Power Brokers are being challenged most by the inventory shortage, and despite the additional $100 billion-plus in sales volume last year, there was a considerably lower rise in transactions—just approximately 140,000 more from 2016.
The imbalance is indicative of a market in which insufficient inventory is colliding head-on with soaring values—and Power Brokers are adapting in pioneering ways. Below are highlights from the Power Broker Report, based on responses to the Power Broker Survey:
RISMedia’s 2018 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. The Power Broker Survey ranks brokerages by residential sales volume and transactions in 2017. The complete ranking of the Top 1,000 will be released shortly.
Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at email@example.com. For the latest real estate news and trends, bookmark RISMedia.com.