Residential Properties Earns Spot on Real Trends Top 500 List
PROVIDENCE, R.I. – Real Trends, Inc. has released its annual report of the 500 largest and most successful residential real estate brokerage firms in the nation, announcing Residential Properties Ltd. (RPL) amongst its distinguished list of top real estate companies.
Residential Properties Ltd. ranked number two in Rhode Island and number 280 in the entire nation with $601,755,355 in total volume. RPL was also listed as number three in the state and 443 in the country with 1,592 residential transaction sides closed last year.
Residential Properties Ltd. is Rhode Island’s largest independent real estate company, currently employing 170 sales associates in five offices throughout the state.
According to the research report, these 500 residential real estate brokerage firms controlled just over 2 million residential sales transactions in 2013. The transactions represent close to 32.6 percent of all new and resale transactions completed by brokers during the year, yet the REAL Trends 500 represented less than three-fifths of one percent of all brokerage firms. The 500 ranked brokers closed 2,577,483 home transactions with a value of over $767 billion during 2013 up from $624 billion in calendar year 2012.
The 2014 REAL Trends 500 is a compilation of a nationwide study of leading residential real estate companies conducted by REAL Trends, the trusted source for useful and timely information. This year's survey represents the most comprehensive collection of data assembled on the leaders of the residential brokerage industry. Numbers are documented by outside accounting firms.
“The recovery in housing sales was reflected in the results from the REAL Trends 500,” says REAL Trends editor Steve Murray. “There were a record number of firms that closed more than $1 billion in sales and over 1,000 units. Unit sales were up 13.0 percent overall and total sales volume was up 23.0 percent. Many of the firms that had increased unit sales accomplished this through organic growth while merger activity remained slower than in years past. We expect acquisition activity to pick up, however, in the years to come as the market consolidates.”
Click here for the complete Real Trends 500 list.
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