The 2015 buzzword in real estate might have been "disruption" -- but based on the 2015 earnings report from Realogy Holdings Corp., one of the nation’s largest real estate franchisors, traditional models are still doing just fine. Realogy's business units include Better Homes & Gardens Real Estate, Century 21, Coldwell Banker, The Corcoran Group, ERA, ZipRealty, Sotheby's, NRT LLC and Title Resource Group. The numbers The company reported in its full-year 2015 earnings results today that its home sale transaction volume last year was adversely affected by the implementation of the Consumer Financial Protection Bureau’s (CFPB's) TRID (TILA-RESPA Integrated Disclosures) regulations in October -- but volume was still good enough to boost the company’s revenues 7 percent year-over-year to $5.7 billion. Realogy’s net income was $184 million, a 29-percent increase from 2014, and basic earnings per share was $1.26, up from 98 cents in the previous year. Adjusted net i...
- Despite TRID adding five days to the closing process, volume was still good enough to boost the company’s revenues 7 percent year-over-year to $5.7 billion.
- Closing times have stabilized since the end of last year, and transaction delays did not dampen contract cancellations or buyer demand.
- Deployment of the Zap platform, a customer relationship and transaction management system that Realogy acquired through its buy of ZipRealty last year, exceeded the company’s expectations.