Editor's Note: This year's Power Broker ranking does not include Compass, which declined to separate residential and commercial sales volume data. The Power Broker Report ranks firms by closed residential sales volume only. Last year, Compass ranked No. 3, reporting $93,536,777,157 in residential sales volume for 2019. Compass reported $151.7 billion in gross transaction value for 2020.
Stay tuned: RISMedia will soon be announcing its Top 1,000 Power Brokers in its 33rd Annual Power Broker Report!
Ahead of the announcement of the Top 1,000 Power Brokers, RISMedia named the Top 500 Power Brokers for 2021, ranked by 2020 residential sales volume. The Top 500 includes some noteworthy shifts in rank and some new entrants to the list, not surprising in a year that witnessed unimaginable change in every area of life and business.
In a surprising twist, despite brokerages facing a turbulent environment and feeling the devastating impact of the COVID-19 pandemic, this year's Top 1,000 Power Brokers reported nearly $1.7 trillion in collective sales volume for 2020 compared to last year's $1.4 trillion. Following a short period of inactivity or slowed business when quarantine set in last spring, the industry bounced back quickly, realizing that real estate markets are resilient. An unprecedented 50% of our surveyed Power Brokers now consider the market "booming."
"Who would have thought that one of the most tumultuous times in our nation's history would usher in one of the hottest real estate markets on record," says RISMedia Founder and CEO John Featherston. "The 2021 Power Brokers proved that this industry can accomplish the impossible even amid the most challenging of times. I have no doubt that Power Brokers, and the hard-working real estate professionals who drive their firms, will continue to adapt and innovate, as well as continuously surprise us with their level of ingenuity and creativity, and their persistence to succeed."
Now, the outlook is primarily positive, with 53% of Power Brokers "cautiously optimistic" and 43% reporting a high confidence level in today's markets. In fact, regarding people's ability to purchase and sell, COVID seems to be a blip on the radar compared to more market-specific obstacles. Of our surveyed Power Brokers, 84.3% cited a lack of inventory as the biggest challenge they are currently facing, with the coronavirus pandemic only cited by 3.3% of Power Brokers.
A Glance at Our Top 20 Power Brokers (Ranked by Sales Volume*):
- Realogy Brokerage Group
- HomeServices of America, Inc.
- eXp Realty
- Douglas Elliman
- Howard Hanna Real Estate Services
- William Raveis Real Estate
- LIV/Sierra/Summit Sotheby's International Realty
- RE/MAX Gold Nation
- Keller Williams Realty, GO Management Offices
- John L. Scott Real Estate
- RE/MAX Results
- United Real Estate
- Brown Harris Stevens
- RE/MAX Alliance/Equity Group
- Berkshire Hathaway HomeServices Arizona/California/Nevada Properties
- Keller Williams Realty Pinnacle Partners Group
- Premier Sotheby's International Realty
- First Team Real Estate
*To see the Top 500 Power Brokers ranked by transactions, please visit our interactive online directory. Stay tuned to RISMedia as we unveil the industry's Top 1,000 ranking brokers, along with additional research and Power Broker insights, in the coming days.