BrokerageIndustry News

Realogy slips into the red in Q3

Transaction volume falls 25% at company-owned brokerages
Published on Nov 10, 2010

After a strong second quarter, franchise giant Realogy Corp. slipped back into the red in the third quarter, reporting a net loss of $33 million. Transaction volumes fell year-over-year both at Realogy's company-owned brokerages and at brokerages affiliated with Realogy brands but not owned by the company. Company-owned brokerages operate under the Coldwell Banker, ERA, Corcoran Group and Sotheby's International Realty brand names.These brokerages completed 61,092 transaction sides in the third quarter, down 25 percent from third-quarter 2009. The average home sale price among these brokerages rose 12 percent to $457,782, and the average commission per transaction side dipped slightly to 2.47 percent from 2.49 percent during third-quarter 2009. Franchisees closed 229,241 transactions sides in the third quarter, down 19 percent from the same period last year. The average price among franchisees rose 4 percent to $202,272, and the average commission per transaction side remained flat a...

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