BrokerageIndustry News

Realogy brokerages, franchisees boost Q3 sales

Company reports $1.2B quarterly revenue, $30M net loss in preliminary earnings

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Realogy Corp. says its company-owned brokerages handled 17 percent more transaction sides during the third quarter than they did a year ago, and that independently owned franchisees affiliated with Realogy also boosted transaction volume by 10 percent.The Parsippany, N.J.-based franchisor reported a $30 million net loss for the quarter on revenue of $1.2 billion, after factoring in $159 million in interest payments on the company's debt, according to preliminary results released this week. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $185 million.Realogy said the average home-sale price during the third quarter was down 6 percent from a year ago in transactions handled by its company-owned brokerages, and down 1 percent for transactions handled by independently owned franchisees.Realogy's franchise brands are Century 21, Coldwell Banker, ERA, Sotheby's International Realty, and Better Homes and Gardens Real Estate.During the second quarter, t...