Brokerages Boosted Sales in 2024 Despite Tough Market
The combined market share of the top 1,000 U.S. brokerages rose last year, with some firms doubling — or even tripling — sales volume, according to T3 Sixty.
Big brokerages are getting bigger, capturing more market share in 2024 even as overall transactions declined year-over-year.
Following last week’s sneak peak at the top 10 firms, T3 Sixty has now released its full Mega 1000 ranking of U.S. real estate brokerage companies and franchisees. Taken as a whole, those 1,000 firms accounted for 64.1% of residential sales volume last year — a total of $2.1 trillion — while the remaining $1.2 trillion was distributed among roughly 100,000 smaller brokerages.
The combined sales volume of the top 1,000 brokerages has steadily increased in recent years, rising from 60.5% in 2023 and 58.8% in 2022, due to consolidation and the rapid growth of some newer players.
The power of M&A: Compass is a prime example of the consolidation approach to growth. The brokerage giant absorbed three major firms in 2024 — At World Properties, the parent company of @properties Christie’s International Real Estate and a massive brokerage in its own right — and large regional firms in New Orleans and Tennessee that added around 4,600 agents to Compass’ roster.
The biggest of the bigs: Even within the Mega 1000, larger brokerages claimed a disproportionate share of sales. The top three — Compass, Anywhere Advisors and eXp — brought in over 17% of the total sales volume, amounting to more than $570 billion, while the top 10% of firms captured 42% of the total sales volume.
LPT’s strong debut: A newcomer to the rankings in 2025, LPT Realty landed in 16th place, but more notably, the cloud-based brokerage boosted its sales volume by a staggering 194.9% in 2024, nearly a three-fold increase year-over-year.
LPT has grown rapidly since launching just four years ago, which Founder and CEO Robert Palmer attributes to the firm’s hybrid revenue share model. Offering that kind of choice, he believes, has enabled LPT “to have all this meteoric growth organically with walkovers and no actual acquisitions.” Now at roughly 15,000 agents, Palmer is setting his sights much higher, telling Real Estate News in January that he envisions “building a platform that can scale to 100,000 or 150,000 agents.”
The greatest gains: While LPT’s 194.9% growth is impressive, it wasn’t the only brokerage with momentum last year. Among the top 20, other standouts included fifth-ranked Real, which posted a 100.1% increase in sales volume and achieved its first billion-dollar revenue year in 2024, and 15th-ranked The Agency, which added 30 new offices last year and grew sales by 82.9%.
The highest percentage gain — a remarkable 325.3% in sales volume — was achieved by No. 111 Keller Williams Philadelphia. Just 12 firms on the list saw sales volume increase by 100% or more, and of those, five were KW market centers.
In terms of dollar amounts, Compass was the big winner. Its 25.3% growth translates to about $46 billion more in sales volume in 2024 (that figure includes sales volume from At World Properties).
A few losses: Only three of the top 20 firms saw sales volume decline last year. No. 7 Howard Hanna was nearly flat, with volume falling just 0.3%, while No. 12 HomeSmart also had a relatively small dip of 1.8%. Weichert Realtors, ranked 14th, posted the largest decline in sales volume at 16.7%.
The most representation: Perhaps not surprisingly, the two biggest franchise brands by sales volume — Keller Williams and RE/MAX — also had the most franchise offices on the list. KW came in first with 348 market centers represented in the Mega 1000, while RE/MAX took second place with 165.
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Real Estate News is an editorially independent division of T3 Sixty.