Industry News

NRT, HomeServices ranked biggest real estate companies

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NRT and HomeServices of America topped an annual ranking of 500 residential real estate companies. The 2004 Real Trends 500 survey, released Thursday, separately ranks companies based on 2003 data for sales volume and closed transaction sides. NRT is a subsidiary of powerhouse Cendant Corp., which also owns the Century 21, Coldwell Banker and ERA real estate franchise networks, among other companies. NRT placed first on both the Real Trends closed transaction sides list and the sales volume list, while HomeServices of America, a subsidiary of billionaire Warren Buffet's Berkshire Hathaway company, placed second on both lists. Real Trends, a publishing and communications company, reports there are about 80,000 residential real estate firms in the nation. The top 500 companies represented about 27 percent of all new and resale transactions in 2001, the most recent year for which data is available. That year, the top 500 companies closed about 2.64 million home transactions, valued at...