Is Warren Buffet now the King of Residential Real Estate? Warren Buffet owned Berkshire Hathaway HomeServices has surpassed Realogy's NRT to become the largest residential brokerage in the country, by the number of deals closed. The Minneapolis-based company closed 346,629 deals in 2018, narrowly ending NRT's 20-year reign on top.
Berkshire Hathaway HomeServices has been in expansion mode over the past couple of years and now has over 44,000 agents and 919 offices in all 50 states. The company opened its first office in NYC in 2017. The company has also began expanding overseas, recently opening offices in London, Berlin, and Milan, with further plans to open offices in Paris, Hong Kong, Mexico City, and Tokyo.
NRT, the company that owns residential brokerage powerhouses like The Corcoran Group, Coldwell Banker, and Sotheby’s International Realty, has dropped to the second spot on the list after a very respectable 20-year reign on top. NRT narrowly fell to the second spot on the top residential brokerage list having closed 337,235 deals in 2018, just 10,000 transactions short of the top spot.
NRT still has something to celebrate though. The company had the highest sales volume in the country last year, with $176.4 billion in sales. Berkshire Hathaway HomeServices came in second in sales volume selling $135.9 billion dollars worth of real estate, up from $125.4 billion in transaction volume in 2017. Compass and Douglas Elliman took the third and fourth spots in total sales volume. Compass generated a respectable $45.5 billion in sales volume, while Douglas Elliman generated $28.1 billion in sales volume.