BrokerageIndustry News

Realogy reports $110 million in earnings for Q2 2017

Transaction volume growth looked solid for Realogy's business units, but growth in transaction sides was less robust
  • In the company's quarterly earnings results for the second quarter of 2017, it reported 8 percent year-over-year growth in revenue and 9 percent year-over-year growth in homesale transaction volume, and an overall profit of $109 million.
  • Growth for homesale transaction sides for Realogy's business units were less robust -- 3 percent at NRT and 1 percent at Realogy Franchise Group.

It looks like some of the changes Realogy made to help ignite its growth are starting to show results. In the company's quarterly earnings results for the second quarter of 2017 (Q2 '17), it reported 8 percent year-over-year growth in revenue and 9 percent year-over-year growth in homesale transaction volume, and an overall profit of $109 million for the quarter. However, neither Realogy Franchise Group (RFG, the business unit that manages Realogy's many franchise brands) nor NRT (the business unit that operates company-owned real estate business segments) reported significant growth in closed homesale sides. One of Realogy's investor relations presentation slides for Q2 '17. "We delivered another quarter of strong results," said Richard A. Smith, Realogy's chairman, CEO and president, in a statement. "Our residential real estate business outperformed our expectations during the second quarter, driven by stronger average homesale price gains and the strengthening of high e...