Residential brokers are creatures of optimism by design. Up market, down market, sideways market — they find reasons to be cheerful. But how are the brokerages they hang their hat with faring in one of the most unpredictable markets in recent memory?
In a new video, The Real Deal’s Hiten Samtani breaks down the performance of some of the most prominent publicly traded residential firms — Douglas Elliman, Compass, Anywhere Real Estate and Redfin — based on their stock prices, earnings and what their leaders have been saying about where they’re headed.
With the stock markets in turmoil, mortgage rates at 2007 highs and the luxury housing market slowing to a crawl, brokerages have had to make hard choices. Among them: closing offices, layoffs, scaling back agent perks and shuttering money-losing business lines.
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Check out the video above for an overview of where the key public residential firms stand as of today, and be sure to follow TRD for more residential breakdowns.