Only 5 of the top 20 real estate companies boosted sales in 2022
In a tough year for real estate, many of the top companies and franchise brands held onto their rankings, but only a few were able to grow sales volume.
- T3 Sixty’s list of the top 20 real estate enterprises and franchise brands showed some movement, with a few companies growing through acquisitions and other expansion efforts.
- Peerage Realty Partners reported the largest gains, growing sales volume by nearly 80%.
- Sales were down for most companies, however, as elevated interest rates and low inventory took a toll.
By all accounts, 2022 was a challenging year for real estate businesses. But a few companies managed to increase sales despite the mass exodus of buyers and sellers in the latter half of the year.
T3 Sixty unveiled its rankings of the 20 largest real estate companies and franchise brands in its 2023 Corporations release. (Note: T3 Sixty and Real Estate News share the same founder, Stefan Swanepoel.)
Most companies saw a decline in sales volume from 2021, but five came out ahead: Peerage Realty Partners, United Real Estate, At World Properties (and its @properties franchise), Hanna Holdings and eXp World Holdings, the only $100 billion-plus "mega enterprise" to achieve growth.
"The few companies that were able to grow their sales volume in 2022 did so through ambitious acquisition of large, existing firms or strategic franchise expansion efforts," said Paul Hagey, senior vice president of T3 Data.
The 2022 sales volumes, which declined overall, reflect the big downshift last year caused by rising interest rates and low inventory, said Hagey.
Biggest companies saw double-digit dips in sales
The top five enterprise companies (Anywhere, Keller Williams, RE/MAX, HomeServices of America and Compass) all posted 10-15% declines in sales volume in 2022. With $636.4 billion in sales volume, Anywhere maintained a big lead over Keller Williams ($439.6 billion) and RE/MAX ($291.6 billion).
The only company in the top 10 to grow sales volume was eXp, which came in at No. 6 and reported gains of 20.2%.
Reporting the most impressive growth was Peerage Realty Partners. The company acquired two large Sotheby's affiliates in 2022 and entered the rankings for the first time, coming in at No. 15 and boasting an impressive 79.3% increase in sales volume for the year.
United Real Estate, ranked just below Peerage at No. 16, also saw significant gains with 30.7% sales volume growth. At World Properties, which landed in the 14th spot, grew sales volume by 21.4%, and No. 11 Hanna Holdings posted 2.7% growth.
The top six enterprise companies held onto their spots from 2022, but several others moved up or down one or two positions. Redfin took the biggest hit, falling five spots from 7th to 12th. The company had a rocky year, with multiple rounds of layoffs and the shuttering of its iBuying program RedfinNow, which alone resulted in the loss of more than 850 employees.
EXIT Realty (17th) and Realty Executives (18th) each moved down three spots.
Only two franchise brands reported sales volume growth
Most of the top 20 real estate franchises also saw declining sales growth, and a few shifted positions.
Keller Williams retained the top spot, but Coldwell Banker Real Estate moved ahead of RE/MAX by a small margin to claim the No. 2 position. Otherwise, the top 7 franchises remained the same. Sotheby's International Realty and Berkshire Hathaway are neck-and-neck for the fourth and fifth positions, with each posting $146.8 billion in sales volume.
Lower on the list, United Real Estate made the biggest jump, moving up from No. 17 to No. 14.
A franchise division of At World Properties, @properties, climbed two positions, and Weichert Realtors (No. 8) and Howard Hanna Real Estate (No. 15) each bumped up one ranking.
Of the 20 largest franchise brands, eighteen showed a decrease in sales volume in 2022, with only United Real Estate (30.7% growth) and @properties (0.6% growth) posting increases.