U.S. Realty Firm Survey : Century 21 Leads in Revenue
Irvine-based Century 21 Real Estate Corp. is still the largest real estate brokerage firm in the nation, and most of the nation’s Top 10 firms are active in California, according to the Roulac Real Estate Consulting Group of accountants Deloitte Haskins & Sells.
Century 21 logged $2.26 billion in gross revenue last year, up from $2 billion the previous year, according to Roulac. No. 2, Coldwell Banker Real Estate Group, another prominent player in California, saw its revenue rise to $1.66 billion from $1.2 billion. Together, the two firms accounted for 11.5% of the industry’s $31 billion in 1987 revenue.
Filling out the Top 10 were RE/MAX International, Electronic Realty Associates (ERA), Merrill Lynch Realty, New America Network, Royal LePage, San Francisco-based Grubb & Ellis, Weichert Co. and Cushman & Wakefield.
Twelve other California-based companies were among the 68 real estate firms with at least $10 million in revenue last year, Roulac said. They were Fred Sands Realtors, West Los Angeles, $129.1 million; Red Carpet, San Diego, $80 million; Marcus & Millichap, Palo Alto, $67.7 million; Fox & Carskadon/Better Homes & Gardens, San Carlos, $50 million; Cornish & Carey, Palo Alto, $35 million; TRI Realtors, San Francisco, $24.7 million.
Also, Burke Commercial Real Estate, Irvine, $22.5 million; Frank Howard Allen Realtors, Greenbrae, $20.8 million; Cornish & Carey, Santa Clara, $15 million; Coast-to-Coast Properties, San Jose, $14.7 million; Charles Dunn Co., Los Angeles, $14.2 million and Schneider Commercial Real Estate, Santa Ana, $11 million.
The $31 billion in industryide revenue was up a modest 3.3%, or $1 billion, from the 1986 total. Roulac attributed the increase to strength in the residential sector.
