T3 Sixty suspends release of real estate brokerage ranking
The company made the move after hearing from “numerous” privately owned companies involved in high-stakes lawsuits over commissions.
T3 Sixty, an industry-leading resource for residential real estate business information, will not be publishing the 2024 Mega 1000, its annual ranking of the top brokerages in the United States.
The decision comes "at the request of numerous privately owned brokerage companies" involved in current and pending lawsuits, the company announced March 28 via email. T3's rankings had been used to determine the 90-plus brokerages that are not covered by the recent NAR deal to settle commissions cases — and could face millions of dollars in legal liability.
What else is affected: T3 Sixty is also suspending publication of its ranking of the largest real estate enterprises (umbrella companies that own brokerages, franchise brands or both) as well as its rankings of top franchise brands and franchisees.
What T3 Sixty had to say: "These data-driven rankings are compiled to better understand the industry, not solely for promotional purposes," said T3 Sixty President and CEO Jack Miller. "We will still be collecting and compiling the information. We just won't be distributing it publicly at this time."
What's next: The Swanepoel Power 200 list of leaders, plus rankings of top MLSs and associations and the Tech 200 either have been or will be released publicly at RealEstateAlmanac.com, T3 Sixty said. However, brokerage company rankings only will be published once the lawsuits are resolved.
(Note: T3 Sixty and Real Estate News share a founder, Stefan Swanepoel.)