Buoyed by rising home prices, real estate giant Realogy posted $5.3 billion in net revenue in 2014, up 1 percent from a year ago.
“Realogy was involved in approximately 27 percent of U.S. existing-home-sale transaction volume involving a real estate brokerage firm — a full percentage point gain in market penetration compared to 2013, said CEO Richard A. Smith in a statement.
“The key contributors to our market penetration increase were our relative strength at the high end of the housing market and our ongoing growth initiatives.”
Realogy’s company-owned (NRT) and franchise (RFG) business segments’ combined home-sale transaction volume (transaction sides multiplied by average sale price) in 2014 increased by 5 percent compared to 2013.
Realogy Holdings Corp. franchises industry brands including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, The Corcoran Group, ERA and Sotheby’s International Realty.
Realogy says its franchise system members operate approximately 13,500 offices with more than 251,300 independent sales associates conducting business in 104 countries and territories around the world.
NRT, Realogy’s company-owned real estate brokerage, is the largest residential brokerage company in the United States, operates under several of Realogy’s brands and also provides related residential real estate services, according to Realogy.