Record Growth In All Rankings

busy office space

RANKINGS ANALYSIS

Leading brokerage firms and top agents and teams grew their total share of the business faster than the market as a whole.

In a previous article, we pointed out that brokerage firms ranked on the RealTrends 500 (RT500) had gained 10% market share in 2020, the largest single year change of any kind since we started ranking firms 30 years ago.

Collectively, the RT500 grew from 35% share of all assisted transactions to 38.5% of all transactions. Previously, a one year change would have been in the 1% to 1.5% range in any given year.

Growth In Agent And Team Rankings

Not released yet is the fact that RealTrends America’s Best Sales Professionals grew by nearly 4,000 agents and teams between 2019 to 2020. It means that over 4,000 additional agents and teams did at least 50 closed sides or $20 million in volume. This is far and away the largest single-year jump in the 15 years we’ve been tracking top agents and teams.

That means that both leading brokerage firms and top agents and teams grew their share of the total business much faster than the market as a whole. Discussions with these leaders as to why this may have happened is the result of an intense focus on the basics of their business while also adapting to the use of virtual technology to connect with each other, as well as with clients and customers.

How Did This Happen?

Put another way, we have always believed that the best leaders in our industry understand the basics of success. Contact, communication, follow up and strong relationships matter the most. Yes, the use of myriad technologies is important to achieving reach in times like these, but at the core is focusing on these fundamentals.

The big shift in share was more the result of an intense focus on connecting with people more than any other factor. When faced with the potential of a disastrous downturn in housing sales back in March 2020, rather than huddling in fear, these leaders attacked the issue with more outreach.

This is a lesson that will serve anyone wishing to compete in the markets ahead whatever they look like.

Steve Murray is a senior advisor with RealTrends.


This article originally appeared in the June 2021 issue of the REAL Trends Newsletter. It is reprinted with permission of HWMedia. Copyright © 2021. To read the rest of this issue & more, please visit our Real Trends page online.


Articles, News and Legal Hotline Q & A's found on the Washington REALTORS® website are intended for Washington REALTOR® members only. None of the information contained herein constitutes legal counsel. Opinions expressed in the articles are those of the contributors. Legal Q & A's are written by the Legal Hotline Lawyer. Always check with your managing or designated broker to comply with your brokerage's practices. If you are a WR member with real estate legal questions, email LegalHotline@warealtor.org to contact the Legal Hotline Lawyer. If you have questions about reprint rights, RE Magazine or WR app content, please contact Cara McNeil at (360) 943-3100 x 126 or email cara.mcneil@warealtor.org.





GET THE WR APP!