Turn up the volume on your real estate success at Inman On Tour: Nashville! Connect with industry trailblazers and top-tier speakers to gain powerful insights, cutting-edge strategies, and invaluable connections. Elevate your business and achieve your boldest goals — all with Music City magic. Register now.
The final earnings reports of 2024 paint a picture of an industry at a crossroads — where strategic bets on technology, rentals and operational efficiency are separating leaders from those struggling to regain footing. Companies like Zillow and CoStar Group are doubling down on digital dominance, with Zillow’s rental revenue surging 25 percent and CoStar marking its 55th consecutive quarter of growth.
Meanwhile, Compass is proving that scale still matters, expanding both revenue and agent count to surpass a 5 percent market share.
At the same time, the brokerage landscape is undergoing a reshuffle. EXp Realty saw revenue gains but a drop in agent count, underscoring the challenges of retention in a competitive market. RE/MAX turned a profit, but its 10th straight quarter of revenue decline signals ongoing pressure on traditional franchise models.
Elsewhere, mortgage and alternative real estate models are redefining their playing fields. Mr. Cooper is leaning into AI-powered efficiencies to streamline mortgage servicing, with its portfolio reaching $1.5 trillion, and Airbnb is signaling its ambitions beyond short-term rentals, earmarking $200 million for expansion as it seeks to solidify its post-pandemic growth.
And Offerpad’s deepening losses highlight the iBuying sector’s continued volatility, as home sales, acquisitions and per-sale profits all trended downward.
As these earnings reports show, the real estate industry isn’t just reacting to economic pressures — it’s evolving in response to them. Here’s where major brokerages landed in Q4 and what their results reveal about the road ahead.
Rocket’s $649M Q4 profit puts the company in the black for 2024
In a difficult year for real estate, Rocket Mortgage grew closed loan volume by 29 percent, to $101.2 billion, and higher profit margins on those loans helped boost net revenue by 34 percent, to $5.1 billion.
Anywhere grows annual revenue to $5.7B to close out 2024
The real estate franchisor improved losses, revenue and combined closed transaction volume during the fourth quarter of 2024 to put a cap on the year. Luxury continued to outperform the general market.
Compass grows revenue and agent count, market share tops 5%
The company now has 17,752 principal agents. Founder and CEO Robert Reffkin said in a new earnings report that he believes his company will pull ahead in 2025.
A drop in expenses was enough to offset falling revenue from franchise fees and annual dues that make up about 70 percent of RE/MAX’s revenue, the company said on Thursday.
EXp Q4 earnings mixed as revenue ticks up but agent count falls
The virtual brokerage ended 2024 with 82,980 agents — a 5 percent drop compared to the previous year, according to Q4 earnings data. EXp also posted $1.1 billion in revenue in the final three months of last year.
Redfin on the upswing after Zillow deal despite widening Q4 losses
Redfin posted double-digit revenue growth for Q4 and FY 24 on Thursday. The company’s $100 million Zillow rental syndication deal has opened the door for greater advertising spend, CEO Glenn Kelman said.
Zillow’s Q4 revenues rose 17 percent annually to $544 million while its rental segment generated $116 million, according to an earnings release Tuesday that included news of a rental partnership with Redfin.
CoStar Group posts 55th-straight quarter of revenue growth in Q4
Virginia-based portal CoStar Group grew its revenue 11 percent in Q4, to $709 million, executives said Tuesday. Traffic to Homes.com Network remained steady, with 110 million average monthly unique visitors.
Airbnb focused on expanding beyond ‘just a place to stay’ in 2025
Airbnb said it would spend over $200 million on unspecified investments this year as it looks to continue its post-pandemic boom. The company reported revenue has tripled since it went public in 2020.
Offerpad losses mount as iBuyer acquires and sells fewer homes
At $17.3 million, Q4 2024 net loss is up 28 percent from the previous quarter, as homes acquired dipped 9 percent to 384, homes sold fell 18 percent to 503, and profits on each sale fell by 24 percent.
Opendoor saw rising losses in Q4, but managed to boost revenue
Mr. Cooper’s tech investments paying off as portfolio hits $1.5T
Dallas-based loan servicer is using AI to collect monthly mortgage payments from 6.7 million homeowners, a business that generated $393 million in pretax income during the fourth quarter.
Matterport lost $256M in 2024 as it continued scaling before merger
Total revenue was $169.7 million, up 8 percent compared to a year earlier, boosted by its 1.2 million subscribers as the company bolstered its ongoing revenue streams.
UWM is hiring after banner year for purchase mortgage lending
In a year when home sales hit a three-decade low, the nation’s biggest mortgage lender made $96.1 billion in loans to homebuyers — the company’s best year ever.
Jessi Healey is a freelance writer and social media manager specializing in real estate. Find her on Instagram, LinkedIn, Threads, or Bluesky.
