Sierra Sotheby’s International Realty recently announced its ranking as the No. 16 real estate firm in the U.S. in sales volume, according to RISMedia’s 30th Annual Power Broker Report. In partnership with its sister companies Summit Sotheby’s International Realty in Park City, UT and LIV Sotheby’s International Realty with offices throughout Colorado, the Lake Tahoe and Reno based brokerage reported a sales volume totaling more than $6 Billion in 2017.
RISMedia President and CEO John Featherston congratulated the LIV, Summit and Sierra Sotheby’s International Realty triad of brokerages for their prestigious ranking in this year’s Power Broker Report. “The firms represented are the nation’s most elite brokerage firms serving literally millions of consumers with their real estate needs,” Featherston said. “Even up against extremely scarce supply, Power Brokers posted remarkable sales. With the economy expanding and home prices on a tear, they’re charging forward and leveraging the opportunities. We applaud their commitment to homeownership and congratulate them on their Power Broker standing.”
The Top 1,000 2018 Power Brokers collectively earned more than $1.3 Trillion in sales volume and more than 3.7 million transactions in 2017 and encompass more than 478,000 agents and over 8,370 offices.
Highlights from the 2018 Power Broker Report & Survey include:
- Seventy-one percent of Power Brokers are challenged most by the lack of housing supply.
- The majority of Power Brokers (38 percent) believe first-time homebuyers and millennials are their greatest opportunity.
- The majority of Power Brokers (38 percent) believe the housing market is “growing;” 30 percent believe it is stable.
Additional findings and interviews are available now on RISMedia.com.
Celebrating its 30th anniversary year, the Power Broker Report has long honored the incredible business feats of remarkable real estate leaders—and brokerage firms—who continue to shape our industry. Each April, RISMedia’s Real Estate magazine highlights the Top 500 Power Broker firms according to sales volume, and the digital version of the Power Broker Top 500 ranks firms according to sales volume and transactions.
About RISMedia’s 30th Anniversary Power Broker Report & Survey
RISMedia’s 30th Anniversary Power Broker Report & Survey is based on an online survey of residential real estate brokerages in the U.S., conducted by RISMedia Jan. 25-Feb. 26, 2018. The survey ranks brokerages by closed sales volume and transaction sides in 2017. Brokerages must have had an individual, shareholder or entity with a minimum 50.1 percent ownership interest, inclusive of subsidiaries, complete the survey, and have had their submissions verified by the associated broker and accountant, CFO or other party who can validate the accuracy of the data submitted. To be eligible for the 2018 survey, brokerages must have completed a minimum of $150 million in residential sales volume in 2017. There is no cost or obligation to participate in the Annual Power Broker Report & Survey.
RISMedia was founded in 1980 by CEO and Publisher John E. Featherston as the residential real estate industry’s definitive source for news and information for real estate’s most profitable and productive professionals. For 38 years, RISMedia has provided the industry with news, trends, and strategies through Real Estate magazine and RISMedia.com, its blog, Housecall, and its renowned networking and educational events, including RISMedia’s Real Estate CEO Exchange; the Newsmakers Awards, Reception & Dinner; and the Power Broker Forum, Reception & Dinner.
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