West + Main Homes Ranks 274 in the Mega 1000

The US’s 1000 largest brokerages accounted for nearly 60 percent of total residential sales volume in 2021

LADERA RANCH, CALIF. (PRWEB) APRIL 28, 2022

T3 Sixty, a real estate management consulting and analytics firm, has released its 2022 Mega 1000, an annual ranking of the nation’s 1,000 largest brokerages by sales volume, transaction sides and agent count. The report reveals that this cohort of brokerages accounted for nearly 60 percent of the nation’s residential sales volume in 2021.

The 59.2 percent of the nation’s total sales volume that the U.S.’s 1,000 largest brokerages accounted for in 2021 represents a growth of 13.4 percent in market share from the year previous (market share is determined using Mega 1000 data and existing home sales data as reported by NAR). That’s approximately double the next highest year-over-year growth in Mega 1000 market share since the report debuted in 2018, when the Mega 1000 market share stood at 44.9 percent.

Companies such as Compass, which moved from No. 3 in 2021 to No. 1 in this report, and eXp Realty, which grew sales volume by 116.2 percent from 2020 to 2021 and No. 4, achieved some of the largest growth over this period. Heavyweights Realogy Brokerage Group and HomeServices of America, No. 2 and No. 3, respectively, also anchored the nation’s largest brokerages. With eXp Realty’s leap, 2021 saw four brokerages top the $100 billion sales volume threshold.

“We are beyond thrilled to continue to move up the Mega 1000 ranks,” said West + Main Homes CEO and Co-Founder Stacie Staub. “As always, we have our agents, our clients, and every single person who continues to trust and support West + Main with their Real Estate business.”

”From Number 970 in 2019 to Number 274 this year, we’re so excited to break into the Top 300,” said Company COO and Co-Founder Madeline Linder. “Our staff continues to create systems that scale, so that we can love on our people every day and give them everything they need to attract, nurture and deliver during transactions. It’s such an honor to lead this group.”

More on Market Share

The sales volume market share of the nation’s 10 largest brokerages at 23.6 percent in 2021 jumped from 18.8 percent in 2020. The growth in market share represents an increasing concentration of sales volume at the nation’s largest brokerages.

The 2021 sales volume market share of the nation’s 100 largest brokerages, at 36.9 percent, grew from 31 percent in 2020. Overall, the market share of the Mega 1000 rose from 52.2 percent in 2020 to 59.2 percent in 2021 reflecting growth in sales volume from $2 trillion to 2.7 trillion in one year.

The market share of transaction sides followed a similar pattern. In 2021, the top 10 brokerages accounted for 14.9 percent of transaction sides, up from 12.1 in 2020. The largest 1000 brokerages accounted for 44.2 percent of transactions in 2021, an increase from 41.2 percent in 2020.

Since 2018, two brokerages have accounted for a significant share of the overall gain in market share among the top 10. Compass, founded in 2012, saw as increase in sales volume of $208.7 billion over the period while eXp, founded in 2009, logged an increase of $136.3 billion. Together, these two brokerages accounted for nearly 60 percent of the $577.2 billion increase in sales volume of the top 10 brokerages.

To access the full 2022 Mega 1000, visit realestatealmanac.com.

About the Mega 1000

The Mega 1000, which analyzes the residential real estate industry’s largest brokerage companies, is the fifth section of the Real Estate Almanac, a comprehensive annual compendium on the residential real estate industry. The Almanac includes a ranking of real estate’s most powerful leaders (SP 200), a list of its largest MLSs and Realtor associations (ORE 200), a list of the largest technology companies (Tech 500), a list of the nation’s largest holding companies, franchise brands and public companies (Enterprise 20), and a list of the nation’s 1,000 largest brokerages (Mega 1000). For more, visit realestatealmanac.com.

About T3 Sixty

T3 Sixty is the leading management consultancy in the residential real estate industry with business units in brokerage, technology, mergers and acquisitions, and organized real estate. The group also provides software and data, extensive research and reports, executive search and event management services. For more information, visit t360.com.

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West + Main Ranks in Top 100 Indie Brokerages - Real Trends

The RealTrends 500, now in its 34th year, remains the undisputed leading report ranking the performance of the top residential real estate brokerage firms.

See the entire list here.

"West + Main Homes broke into the Top 500 overall for both sides and volume in 2022, as well as entry into the Billionaire’s Club, which is a super cool achievement,” said Company CEO Stacie Staub. “But the distinction we’re most proud of is ranking #90 for Independently-owned brokerages nationwide.”

"All of these numbers, of course, are a tangible testament to the hard work and dedication of each of our agents, and to our staff’s commitment to supporting them,” said Staub. "Every dollar in volume and each transaction side represents real people in the communities that we serve, and the places that they call home. We’re so honored to help folks build generational wealth and to be part of making dreams come true.”

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West + Main Ranks in Top 500 Power Brokers

In a year that went from feast to famine, Power Brokers navigated an economic decline—along with the ramifications of the Federal Reserve’s ensuing response—to persevere as best possible, but not without feeling the impact. While some struggled, others seized the opportunity to gain ground.

The data for the Top 1,000 firms featured in RISMedia’s 35th Annual Power Broker Report reveal a more than $220B decrease in collective sales volume over 2021, based on over 670,000 fewer transactions.

These significant decreases in overall sales volume and transactions reflect the rollercoaster ride that was the 2022 residential real estate market. Competition intensified among the industry’s largest players in a year that started out strong, thanks to the remnants of the pandemic boom, then dropped off at year-end as the Fed focused on reeling in inflation with interest-rate hikes beginning last March.

Amidst this tumultuous economic environment, the industry’s largest brokerage operators took measures to steady the ship and stay afloat.

Crisis for some, opportunity for others
As the market fluctuated, residential brokerage firms turned to an array of cost-cutting measures.

Lingering signs of the pandemic boom
While losses mounted virtually across the board, the Top 500 Power Brokers continued to witness some of the effects of 2021’s pandemic boom, such as scores of new entrants to the residential real estate field, ready to capitalize on a seemingly easy opportunity. So while collective sales volume and transactions declined in 2022, agent count continued to rise with a total increase of more than 40,000 agents among the Top 1,000 brokerage firms.

Another pandemic-era phenomenon also continued to make its mark in 2022: increasing home prices. The average home price among the Top 1,000 firms increased to $518,043 over the cohort’s 2021 average home price of $492,836.

“When mortgage rates go up, prices usually go down, but we are in a market now where there are not enough homes to sell, and that’s keeping prices high,” said Brown Harris Stevens CEO Bess Freedman in an interview with RISMedia. “However, these are the moments when an agent’s true value shines. People depend on them more than ever to make adjustments and find the best path forward.” 

A five-year perspective
RISMedia’s 2023 Power Broker Report is based on the results of its longstanding annual survey of the nation’s leading brokerage firms. Companies are primarily ranked according to sales volume and secondarily by transaction. In this special preview of RISMedia’s online Power Broker Directory, RISMedia Premier members can see who topped the charts in an unprecedented year, and also view five years’ worth of year-over-year statistics for the Top 500 firms.

West + Main’s RISMedia Power Broker ranking - 2021 -> 2023

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West + Main Agent Jessica Thompson Named 2023 Vice Chair of NAR's Housing Opportunities Committee

Huge congratulations to West + Main Agent Jessica Thompson who was recently named 2023 Vice Chair of NAR’s Housing Opportunity Committee!

“I’m ready to step up to the plate! The average age of a Realtor is 56 and here I am 32, and I’ll be serving as a Vice-Chair for the Housing Opportunity Committee. I’m looking forward to serving fellow Realtors and Communities across the country!”

About Jessica:

I am a 5th gen Okie and have resided in Oklahoma City’s urban core for more than 10 years. My husband, Anthony and I, are currently raising our two children and dog in the same neighborhood in which my great-great grandmother once lived and I am proud to be an integral part of my neighborhood's renaissance. I began my real estate career in 2012, working with Green Home Builder, Tapestry Custom Homes, who specializes in universal design features. Being the well-rounded individual that I am, I have used my construction knowledge and historic home sales experience to renovate and restore my historic 1925 bungalow.

My practical knowledge and familiarity with old and new home construction empowers my clients to navigate the varying expectations that come with homeownership. Being a dynamic Realtor with a can-do attitude make me a desirable and influential person to work with. I am inspired to get to know my clients as my ability to meet them where they are at in life enables me to find them the right place to call home. I have a knack for helping people enrich the areas that they are in by acknowledging how they can be part of that community or take advantage of what that community has to offer. 

My accolades include the National Trade Association's Realtor Magazine "30 under 30" in 2017. I was recognized by the Neighborhood Alliance of Central Oklahoma as the "Good Neighbor of the Year" in 2018. I’ve been featured as Top Producer's 2019 "Rising Star." Throughout the years, I have been able to contribute to public education of real estate through radio interviews, various magazine and newspaper articles and have been a featured speaker at multiple events.

I have served on the Board for the non-profit 501c3, Positively Paseo, a community housing development organization whose work has been revitalizing urban neighborhoods that have experienced disinvestment, by rehabilitating historic homes, building homes on infill land, and creating community investment through home ownership. I collaborated with the City of OKC’s Office of Sustainability, Neighborhood Alliance of Central Oklahoma, University of Oklahoma College of Architecture’s Division of Regional and City Planning, to create a Youth Walkability Program called “NeighborWalks” to educate youth on the importance of walkability in communities. Through community endeavors, I found a passion for government affairs and policy. I have served on the Oklahoma City Metro Association of Realtors Government Affairs Committee since 2018, most recently serving in the capacity as Vice-Chair. I also serve as one of the Board of Directors for the Oklahoma City Metro Association of Realtors. I have served on the committee of the Association’s Young Professionals Network, as well as the Oklahoma Association of Realtor’s Young Professional’s Network. I currently serve on the Housing Opportunity Committee for the National Association of Realtors and was considered for Presidential Recognition for work done in her community in 2019. 

About NAR’s Housing Opportunities Committee:

To monitor, oversee and measure results of NAR's housing opportunity programs and initiatives; to provide strategic direction on housing opportunity initiatives and to propose or develop new programs; to disseminate information on housing opportunity programs and encourage Realtors®' participation and collaboration through state and local initiatives; and to analyze, monitor and recommend policy on housing opportunity issues which are not within the authority of other NAR committees.

The Inspiration Lab Podcast: Featuring West + Main CEO Stacie Staub

Episode 27: Making the Inc 500 List and Why Growth is Hard but Worth It with Stacie Staub

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Making the Inc 500 List and Why Growth is Hard but Worth It with Stacie Staub

As we close out our small business series, Stephanie sits down with her friend Stacie Staub, founder and owner of West + Main Homes and Colorado-based Real Estate expert with over 15 years of experience in both residential sales and industry marketing. West + Main Homes was recently featured on the Inc 500 list and has had an incredible trajectory of growth. Stephanie and Stacie discuss the reality of growth, why it’s sometimes hard and how to push through that, and why it’s so beneficial in the long run.

Check out West and Main

Find West and Main on Instagram

Check out The Inspiration Lab

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