NORWALK, Conn., March 28, 2018 (GLOBE NEWSWIRE) -- Real estate brokers kept their eyes on the prize in 2017, even with acute inventory shortages stunting transactions, according to findings from RISMedia's 2018 Power Broker Report & Survey, released today. The 2018 Power Broker Survey ranks brokerages based on two different metrics: residential sales volume and transaction sides in 2017.
Get the digital, interactive ranking of the Top 500 U.S. residential real estate firms: https://bit.ly/2Gbwfdr
The 2018 Power Brokers* collectively earned $1,309,745,420,709 in sales volume and 3,792,171 transactions in 2017, and encompass more than 478,000 agents and over 8,370 offices.
Highlights from the 2018 Power Broker Report & Survey include:
- Seventy-one percent of Power Brokers are challenged most by the lack of housing supply.
- The majority of Power Brokers (38 percent) believe first-time homebuyers and millennials are their greatest opportunity.
- The majority of Power Brokers (38 percent) believe the housing market is "growing;" 30 percent believe it is stable.
Additional findings are available now on RISMedia.com: https://bit.ly/2IXX8PV
"2018 is the 30th Anniversary of the Power Broker Report & Survey," says John Featherston, CEO of RISMedia. "Even up against extremely scarce supply, Power Brokers posted remarkable sales. With the economy expanding and home prices on a tear, they're charging forward and leveraging the opportunities. We applaud their commitment to homeownership, and congratulate them on their Power Broker standing."
To honor this year's Top 500 Power Brokers, RISMedia is hosting The Power Broker Reception & Dinner, in Boston, Mass., in conjunction with the REALTORS® Conference & Expo in November.
The Power Broker Report is available in the April 2018 edition of RISMedia's Real Estate magazine, and on RISMedia.com.
RISMedia's Power Broker Report & Survey is the industry's longest-running ranking of residential real estate brokerages in the U.S. To be eligible, brokerages must have completed a minimum of $150 million in residential sales volume in 2017.
The 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 2018 Power Brokers consist of the Top 1,000 brokerages ranked in the 2018 RISMedia Power Broker Survey.
Media Inquiries:
Maria Patterson
Executive Editor, RISMedia
203-855-1234, ext. 127
maria@rismedia.com
About RISMedia's 30th Anniversary Power Broker Report & Survey
RISMedia's 30th Anniversary Power Broker Report & Survey is based on an online survey of residential real estate brokerages in the U.S., conducted by RISMedia Jan. 25-Feb. 26, 2018. The survey ranks brokerages by closed sales volume and transaction sides in 2017. 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. To be eligible for the 2018 survey, brokerages must have completed a minimum of $150 million in residential sales volume in 2017. There is no cost or obligation to participate in the Annual Power Broker Report & Survey.
About RISMedia
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/90df84a6-cdb2-4bb9-a549-1c810b0aa13c