If you're a real estate agent, you're likely to consider switching brokerages at some point in your career, given that the median agent tenure at a brokerage is five years. However, deciding which real estate company to join can be a daunting task.
There are numerous factors to consider when selecting a company, which is why we conducted extensive research to evaluate dozens of real estate companies based on the criteria that matter most to agents. From this evaluation, we have identified the top seven companies, including some big-name brands and some newcomers shaking up the industry with a fresh approach.
Whether you're a seasoned real estate professional or just starting out in the field, this guide will help you find the best company to work for, so you can achieve your career goals and thrive in the industry.
Keller Williams Real Estate was established in 1983 in Austin, Texas, and has since grown into a successful company with its headquarters still located there. The team at Keller Williams strives to provide top-notch support to their agents and customers. To achieve this, they stay up-to-date with the latest technologies and prioritize training and support to help their agents navigate the complex real estate market.
One of the ways Keller Williams attracts high-end realtors is through its commission cap policies. At the start of every year, employees typically split commissions with their brokerages on a 70/30 basis. However, they only pay a 6% franchise fee until they reach $3,000 in commission fees, and once they hit their local market cap, they take home 100% of their commissions for the rest of the year. This model appeals to high-performing agents who don't want to pay excessive fees and attracts a large number of agents, making Keller Williams a profitable company.
In 1973, Re/Max (short for Real Estate Maximums) was founded on the idea of offering real estate agents a new commission model. By allowing agents to keep the majority of their commissions and pay their brokerage through office expenses, Re/Max quickly grew from a concept to 100 franchises by 1977.
Throughout the 1980s and 1990s, the company expanded internationally and shifted its focus to online home listings in the 2000s. Today, Re/Max has nearly 85,000 agents in the United States and Canada alone, generating millions of dollars in revenue each year.
One of the key selling points for Re/Max is its commission policy. Agents can choose from multiple commission options, including a 95/5 split, which allows them to keep 95% of their commissions while paying a monthly desk fee to cover franchise operating costs. Alternatively, agents can opt for the RAPP model, which offers a 60/40 split initially, with the opportunity to move up to a 95/5 split after hitting a commission cap. This flexibility appeals to agents at all experience levels, making Re/Max a popular choice for real estate professionals.
Founded in 1906 by Colbert Coldwell and Benjamin Banker in the aftermath of the Great San Francisco Earthquake, Coldwell Banker has grown into a global real estate powerhouse with over 3,000 offices in nearly 50 countries. Despite changes in ownership over the years, the company's commitment to excellence and innovation has remained steadfast. Offering extensive training and support to its agents, as well as access to cutting-edge technology and marketing tools, Coldwell Banker is a top choice for real estate professionals looking to grow their careers. With a reputation for competitive commission structures and incentives to help agents achieve their financial goals, Coldwell Banker is a leading brand in the industry, dedicated to empowering its agents and providing exceptional service to clients around the world.
Brookfield Asset Management has a rich and varied history. It began as the San Paulo Tramway, Light and Power Company in Brazil over a century ago, managing infrastructure. In the 1960s, it moved to Canada and changed its name to Brascan Limited. As its focus expanded beyond infrastructure to include real estate, renewable power, and private equity, the company underwent one final name change in 2005 to Brookfield Asset Management. Today, with 22,000 employees, it is one of the world's largest real estate management firms, overseeing $208 billion in properties.
eXp Realty boasts over 40,000 agents across the US and claims to be the largest residential real estate brokerage by geography. Operating in seven countries, including South Africa, Portugal, and India, eXp Realty stands out with its innovative cloud-based brokerage model. This model allows agents to work remotely and provides them with access to an extensive range of training, support, and collaboration tools. With a focus on technology and innovation, eXp Realty offers cutting-edge resources and 24/7 live support to help agents succeed. Furthermore, their revenue-sharing model promotes shared success and collaboration, allowing agents to earn equity in the company and build long-term wealth.
Sotheby's International Realty is a renowned real estate company with a global presence. With over 1,000 offices across 70 countries and more than 23,000 sales associates, it generates annual sales of $114 billion. Although relatively small in size, Sotheby's is one of the largest real estate firms in terms of revenue due to its focus on luxury properties.
Joining Sotheby's provides real estate professionals with access to a global network of experienced agents and brokers, along with comprehensive training and resources to advance their careers. The company's specialization in high-end properties also presents agents with the opportunity to work on some of the most desirable listings in the market.
Berkshire Hathaway, a prominent real estate company in the United States, is well-known for its ownership by Warren Buffett, a highly successful investor worldwide. Over time, Buffett has expanded the company's reach to become one of the largest real estate firms in the US, with an impressive 346,629 residential real estate transactions closed in 2018, surpassing many of its competitors.
Berkshire Hathaway attributes its success to its scale. The company has expanded its team of real estate professionals internally while also acquiring smaller brands, owning more than 90 businesses to date. This company's thriving work culture and overall success create an ideal environment for real estate agents seeking career growth opportunities.
1. Which is the biggest real estate firm based in the USA?
Keller Williams boasts the largest number of agents of any franchise, while Realogy Holdings, which encompasses brands such as Century 21, Coldwell Banker, Sotheby's, and ERA, among others, is the top performer in terms of business.
2. How many houses do most realtors sell per year?
Back in 2020, the total value of housing stock in the United States amounted to $36.2 trillion. As housing prices continue to rise, this figure is expected to increase even further.
3. What is the market size of the real estate industry in the U.S.?
According to revenue-based measurements, the market size of the U.S. real estate industry is projected to reach $222.3 billion this year. Therefore, it represents an average annual growth rate of 2.0% between 2018 and 2023 for the industry.
4. How many real estate agents are there in the U.S.?
More than 1.60 million real estate agents are currently opereating in the USA. These agents are either operating independently or affiliated with one of the 106,000 real estate firms spread across the country.
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