Who’s No. 1? See which companies held on despite the downturn
T3 Sixty’s ranking of the top real estate companies includes Compass, Keller Williams, Anywhere and other repeat leaders — plus a few surprises.
Key points:
- Rankings were based on sales volume.
- Most top companies saw drops in production and volume, in line with the market overall.
- eXp and RE/MAX Gold, representing Gold Nation, bucked the trend with large increases.
Despite a year of historic turbulence, real estate's biggest players kept their No. 1 spots.
Industry-leading consulting and analytics firm T3 Sixty unveiled its 2023 rankings of the top five residential real estate companies across four categories:
Enterprise (or holding) company, led by Anywhere
Brokerage, led by Compass
Franchise, led by Keller Williams
Franchisee, led by RE/MAX Gold, representing Gold Nation
Rankings were based on annual sales volume. There was little movement overall, with the most significant shift coming in the brokerage category, where Douglas Elliman moved into the top five.
"The majority of companies listed saw year-over-year declines in production and volume, some almost exactly matching the nationwide market decline," said Stefan Swanepoel, chairman of the T3 Sixty family of companies, which includes Real Estate News.
"But the notable exceptions, including eXp and the top franchisee, RE/MAX Gold, representing Gold Nation, showed massive increases despite this market downturn."
Top enterprise companies
Among enterprise companies, there was no change in rankings from 2022. At No. 1, Anywhere dominated with more than $636 billion in sales volume, despite a sharp drop in overall revenue in Q4. Keller Williams was No. 2 with close to $440 billion, followed by RE/MAX ($291.6 billion), HomeServices of America ($247.3 billion) and Compass ($228 billion).
All five companies reported annual declines in sales volume, from just over 10% (Compass) to 15.3% (HSoA).
Top brokerages
eXp Realty, which ranked No. 4 on the list of top brokerages, was the only company in that category to see sales volume increase over 2022 — by more than 20%. eXp's total sales volume for the year was $159 billion. The other leading brokerages reported declines ranging from -9% to nearly -17%.
Compass, Anywhere Advisors and HomeServices of America claimed the top three spots. Compass and Anywhere Advisors were neck in neck, at $228 billion and $222 billion in sales volume, respectively. HomeServices of America reported the biggest drop in sales volume among the five, but still managed to pull in nearly $166 billion.
Redfin slipped out of the top five, dropping to sixth place in the brokerage category as luxury firm Douglas Elliman moved into the No. 5 position. Redfin had a rocky year, with two rounds of layoffs reducing its workforce by about 27%, and a significant dip in revenue in the fourth quarter. In November, the company also announced its decision to shutter its iBuying business, RedfinNow.
Douglas Elliman also reported steep declines in revenue in Q4, but added 400 agents in 2022 and made investments in technology and agent support that the company said will pay dividends in the long run. At $43 billion in sales for the year, they managed to edge out Redfin by just $3 billion.
Top franchise brands
No new franchise brands made the top five this year, but Coldwell Banker managed to overtake RE/MAX and claim the No. 2 position. Still, none of the brands could compete with No. 1 Keller Williams Realty, which reported more than $439 billion in sales volume.
Coldwell Banker came in at $294.7 billion, just a hair above RE/MAX's $291.6 billion. Sotheby's International Realty saw the biggest decline in sales volume at nearly 19% year over year, but managed to hold onto its No. 4 position with $146.8 billion. In fifth place, and nearly tied for sales volume, is Berkshire Hathaway HomeServices.
Top franchisees
The three largest franchisees retained their positions from 2022, and the No. 1 franchisee — RE/MAX Gold, representing Gold Nation — also defied the odds by reporting an 8.5% increase in annual sales volume, which totaled $18.2 billion.
Majestic Realty came in at No. 2 with $13.7 billion in sales volume, followed closely by Keller Williams Realty GO Network Offices with $12.9 billion. The Keller Williams franchise also managed to eke out a 1.1% increase in sales volume in 2022.
The final two franchisees on the list jumped into the top five this year, displacing Premier Sotheby's International Realty and RE/MAX Results. In fourth place, Keller Williams Realty Pinnacle Partners Group garnered $8.1 billion in sales volume, and Berkshire Hathaway HomeServices PenFed Realty rounded out the list with $7.5 billion.