The biggest real estate brokerages and franchise networks made big gains in market share in 2021, a new report reveals.
As the supply of homes for sale fell to new depths last year, the largest real estate brokerage companies and franchise networks tightened their grip on the remaining inventory, according to a new report.
The share of home sales accounted for by the top 20 real estate enterprises shot up to 61 percent in 2021, compared to 55 percent the previous year, according to T3 Sixty’s latest corporations report.
The gains in market share by the biggest brokerage players represents a further concentration of sales volume in an already top-heavy industry.
“The residential real estate industry has been consolidating at an accelerated clip over the past several years and this data shows just how significant it is,” T3 Sixty Vice President of Research Paul Bishop said in a statement.
In 2018, the top 20 real estate enterprises accounted for just over half of existing home sales reported by the National Association of Realtors. That means these big companies’ market-share gains in 2021 alone dwarfed those of the previous three years combined.
The largest market player was Realogy Holdings Corp., the company behind a number of the largest brokerages and franchise networks including Realogy Brokerage Group, Coldwell Banker, Sotheby’s International Realty, Century 21, Corcoran Group and others.
Realogy’s various companies and brands accounted for…
