AgentBrokerage

Realogy Holdings Corp. turned higher profit in 2016

Results partly reflected 'operating challenges' of strong competition for agents

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Realogy Holdings Corp. increased profits in 2016, using more favorable commission splits and new technology to recruit and retain agents across its vast real estate brokerage and franchise empire. The company posted net income of $213 million in 2016, up 16 percent from the previous year. But that growth came mostly from the company's title and settlement services provider, as production from Realogy's in-house brokerage arm, NRT, remained flat. NRT owns and operates The Corcoran Group, Citi Habitats and ZipRealty, as well as many Coldwell Banker Real Estate and Sotheby's Realty offices. Realogy's franchise network, the Realogy Franchise Group (RFG), comprises brands including Century 21 Real Estate, Better Homes and Gardens and ERA. Revenue, transaction volume and commission Realogy CEO Richard A. Smith said in a statement that the company's results reflected the "operating challenges of strong competition for sales agents and soft demand at the high end of the ho...