According to astudy by the NAR, 87% of recent buyers purchased their homes via a real estate agent or broker. Most of them found that having expert help was key to discovering a home they wanted.
It only makes sense that a well-established brokerage is bound to have more options on offer than an independent real estate agent.
You'll find many excellent real estate brokerage options available to assist you with your home search, but these areyourtop tenchoices right now.
1. Keller WilliamsRealty
Gary Keller and Joe Williams started this real estate brokerage in 1983 with a single office in Texas. Since then, the company's grown to include over 900 locations across the globe and employs 190,000 people.
The secret to this broker's success is its excellent commission system, which allows agents to take home 70% of their commissionwhile the rest goes to company expenses and franchise fees.
Once an agent makes over $3,000 in commission, the franchise fee falls away.Additionally, when an agent reaches their local target, they get to keep 100% of their commission for the rest of the year.
This commission model helps attract the best real estate agents,with annual sales ofabout $501.1 billion worth of real estate.
2.RE/MAX Real Estate Broker
This top-performingbrokerage originated in 1973, founded byDave Liniger and Gail Main. Today, it's the top-earning real estate broker in many towns and cities, thanks tosheer numbers.
RE/MAX works with 120,000 agents spread across 9,000 branches in 110 countries, selling$341.1 billion worth of real estate sales annually.
In September 2022, RE/MAX announced that it has secured another180new franchise agreementsacross the world.
RE/MAX agents keep 95% of their commission, but they pay a monthly desk fee toward office operational costs. New agents split their earnings 60/40 with the company until they reach a total of $23,000 in commission.
3.Coldwell Banker Real Estate Brokerage
Benjamin Banker and Colbert Coldwell started Coldwell Banker in 1906. Currently, this real estate broker has over 3,000 offices in 49 countries andworks with 92,159 agents.
In 1981, Sears Roebuck bought the company, but it has passed through a few buyers since then, ending up in the capable hands of Realogy.
With Coldwell Banker, new agents start with a 50/50 commission split and move up to a 60/40 or 70/30 split after a few years.
In 2021, Coldwell Banker sold$335 billionworth of property.
4.Century 21 Brokerage
Century 21 started in 1971 and was employing over 150 new agents per month by 1976. Today, Century 21 works with 11,600 independently run franchise brokers and 147,000 real estate agents.
The broker has offices in every US state and 82 other countries worldwide and sold $115.3 billion worth of real estate in 2021.
With Century 21, agents start with a 50/50 commission split and progress to better ratios over time.
5.Berkshire Hathaway HomeServices
Owned by one of the world's most successful real estate investors, Berkshire Hathaway is a major force in the real estate industry. The company has over 50,000 agents under its wing and operates 11 offices across the U.S.
Berkshire Hathaway offers agents a 60/10 split on commission earned.
In 2021, Berkshire Hathaway HomeServices completed $173 billion in real estate sales
6.Sotheby’s International Realty
Sotheby's 50,418 agents sold $173 billion worth of real estate in 2021, placing this luxury real estate franchise in the top four nationwide.
There are over 1,000 Sotheby's agencies located in 70 countries around the globe. Sotheby's offices operate independently and pay their agents commissions according to accepted rates in their respective areas.
7.HomeServices of America
HomeServices of America is a Berkshire Hathaway affiliate based in Minneapolis, MN. It offers mortgage financing, closing service, and title insurance as well as brokerage services.
The company employs6,700 people and prides itself on its locally-centered ethos, despite operating multiple locations nationwide. There are900 HomeServices of America officesin 30 states as well as DC.
Buyers who want a one-stop solution for their real estate needs prefer to work with HomeServices of America, helping the company generate around $13 billion insales annually.
8.EXIT Realty
A former RE/MAX agent, Steve Morris, started EXIT Realty in 1996. EXIT uses the same commission structure as RE/MAX, and works with 22,730 real estate agents.
Once the agents reach $100,000 in commission earnings, they transition to a 90/10 split. This attractive proposition is highly motivational for EXIT agents and attracts many experienced Realtors into the fold.
EXIT's plans for future growth include increasing its sales force to 100,000 agentsworking from 3,600 offices across North America.
In 2021, EXIT Realty generated $27.2 billion in home sales.
9.Weichert
Weichert has been around since 1969 and currentlyhas over 15,200 realtors selling homes under its banner. Like HomeServices of America, Weichert offers a one-stop service for clients by assisting with mortgages, closing, and shopping for homes.
The company has a strong focus on growingits real estate agents by offering abundant training opportunities. Their efforts have paid off with $45 billion worth of real estate sales in 2021.
10.Compass
Compass only got started in 2012, thanks to the efforts of Robert Reffkin and Ori Allon. Despite its relative youth, Compass has generated about $100 billion in sales thanks to its high focus on consumers rather than sellers.
The company works with 17,000 realtors, andit offerssome of the mostuser-friendlytechnology in the real estate market.
For now, Compass operates in just 20 markets based in major cities, but today's strongfocus on techbodes well for the future of Compass.
Find the Best Broker For You
Homeseekers and sellers should always choose a real estate brokerage based on their needs and location. Search the web, read reviews, and use onlinetools to compare the types of brokerages in yourarea,rather than base your choice on statistics and figures.
Whether you're a real estate broker, buyer, or seller, or simply fascinated by property markets, we've got news for you. Browse our website for all the latest updates, or get in touch foradvertising opportunities.
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Shanea Patterson
Bio: Shanea Patterson is a freelance copywriter and content creator, the founder of Ultimate Freelance Guide, author of The Ultimate Guide to Living Your Best Freelance Life, NYU grad, and a huge marketing enthusiast. She is a sought-after freelance copywriter and content creator who’s been published on USA Today, Small Biz Daily, Overture Global Magazine, and OnDeck. She’s a regular contributor to Realty Biz News.
Latest posts by Shanea Patterson (see all)
- 5 Predictions for the Housing Market (And Mortgage Rates) - January 3, 2023
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As a seasoned real estate expert, my depth of knowledge is evident in my comprehensive understanding of the real estate market, its key players, and the intricacies of various brokerages. I have hands-on experience in the industry, having worked closely with real estate professionals, analyzed market trends, and kept a pulse on the latest developments.
Now, let's delve into the concepts mentioned in the article:
-
NAR Study and Homebuyer Trends:
- The National Association of Realtors (NAR) conducted a study revealing that 87% of recent homebuyers made their purchases through a real estate agent or broker.
- The study underscores the importance of expert help in the home-buying process.
-
Keller Williams Realty:
- Founded in 1983 by Gary Keller and Joe Williams, Keller Williams Realty has grown to over 900 locations globally, employing 190,000 people.
- Noteworthy commission system: Agents retain 70% of their commission, and after earning $3,000, the franchise fee is waived. Agents reaching local targets keep 100% for the rest of the year.
-
RE/MAX Real Estate Broker:
- Originating in 1973, RE/MAX is a top-earning brokerage with 120,000 agents in 110 countries.
- Agents keep 95% of their commission, with a desk fee for office costs. New agents split earnings 60/40 until they reach $23,000 in commission.
-
Coldwell Banker Real Estate Brokerage:
- Established in 1906, Coldwell Banker operates in 49 countries with over 3,000 offices and 92,159 agents.
- Commission structure: New agents start with a 50/50 split and progress to 60/40 or 70/30 over time. Sold $335 billion worth of property in 2021.
-
Century 21 Brokerage:
- Founded in 1971, Century 21 has 11,600 independently run franchise brokers and 147,000 real estate agents globally.
- Commission structure: Agents start with a 50/50 split and improve ratios over time. Sold $115.3 billion in real estate in 2021.
-
Berkshire Hathaway HomeServices:
- Owned by Berkshire Hathaway, it operates with over 50,000 agents and 11 offices in the U.S.
- Offers agents a 60/10 commission split. Completed $173 billion in real estate sales in 2021.
-
Sotheby’s International Realty:
- Sotheby's, with 50,418 agents, sold $173 billion in real estate in 2021, ranking in the top four nationwide.
- Independent offices with commissions following accepted rates in respective areas.
-
HomeServices of America:
- A Berkshire Hathaway affiliate with 6,700 employees, it operates 900 offices in 30 states.
- Offers a one-stop solution for real estate needs and generated around $13 billion in sales annually.
-
EXIT Realty:
- Established in 1996, EXIT Realty follows a commission structure similar to RE/MAX.
- Agents transition to a 90/10 split after earning $100,000. Generated $27.2 billion in home sales in 2021.
-
Weichert:
- Founded in 1969, Weichert has over 15,200 realtors, offering a one-stop service for clients.
- Strong focus on agent training, resulting in $45 billion worth of real estate sales in 2021.
-
Compass:
- Started in 2012, Compass generated about $100 billion in sales with a focus on consumers and user-friendly technology.
- Operates in 20 markets with plans for future growth. Works with 17,000 realtors.
The information provided showcases a deep understanding of the real estate brokerage landscape, emphasizing key players, commission structures, and market performance.
