After a slowdown in the third quarter, it walked “a rather harsh housing market” everywhere, bringing growth and optimistic outlook for 2025.
The real estate services company posted a net loss of $64 million or an improvement of $43 million over the same quarter in 2023.
Its operating EBITDA (revenue before interest, taxes, depreciation and amortization) increased by $24 million from the previous year to $52 million.
The parent company of Corcoran, Coldwell Banker, Century 21 and Sotheby’s International Realty reported revenue of $1.4 billion, an annual increase of 9%.
Total trading volume increased 13% year-on-year, with units up 3% in the fourth quarter and prices up 9%.
Everywhere, it was supported by the growth of the luxury sector. The high-end segment had a total of 20% up 2023 compared to the fourth quarter of 2023, with unit growth of 12% year-on-year.
In a revenue call, CEO Ryan Schneider reiterated his stance that he relaxed but would not abolish the National Association of Realtors’ clear cooperation policy. The CEO appeared to be taking a veiled shot with a fellow residential giant compass who was in Vanguard in search of abolition.
“People who advocate for abolition are primarily moving forward in their own interests,” Schneider said. “There is clearly an opportunity for players with a listing scale to create a private, out-of-market listing network that has access to only selected agents.
Schneider said the move to an out-of-market listing hurts sellers’ ability to get the best prices and complicates pricing by reducing publicly available comparables. But he said everywhere he said there is the largest list in the industry across brands, he is ready to “capitalize” in the event of a CCP decommission.
He also called for industry integration – another emphasis on Compass – “although he is excited to strengthen our growth through M&A opportunities,” the company said, “to strengthen the final line.” He said he was just looking for a deal. Top line. ”
“We’ve seen some trades in markets that we wouldn’t,” he said.
Cost reductions to continue
The number of locations that were divided everywhere fell by 7 basis points from the previous year to 80.3%.
The average fee rate fell slightly again, down from 2.41% for franchise groups to 2.39% and from 2.36 for owned brokerage companies to 2.35.
The story continues
