Residential Trio Climbs the 2017 Ladder of Top Real Estate Agencies (as reported by Arkansas Business)
As Reported by George Waldon/Arkansas Business Access Article Here
Three Little Rock agencies moved up among the top 10 residential realty firms in Arkansas last year.
Re/Max Elite made the biggest move from No. 13 to No. 9. That reflected a doubled 2017 sales volume of $266.8 million, up from $131.6 million in 2016.
Coldwell Banker RPM Group rose to No. 5 with a sales volume of $439.2 million, up from No. 6 and $348.7 million. Keller Williams Realty went up to No. 8 with $296.9 million sales volume, compared with $214.1 million at No. 9 in 2016.
The big four retained their pecking order, but Keller Williams Market Pro Realty of Fayetteville at No. 2 recorded a sales volume gain from $698.2 million in 2016 to $751.2 million for 2017. The other three firms experienced ever-so-slight dips.
At the top, the Arkansas operations of Crye-Leike Realtors of Memphis went from $1.26 billion to $1.21 billion.
No. 3 Coldwell Banker Harris McHaney Faucette in Fayetteville went from $698.2 million to $608.4 million for 2017.
No. 4 Lindsey & Associates of Fayetteville went from $549.3 million to $523 million.
Among the top 20, 13 agencies recorded gains in 2017. The biggest upward moves were recorded by two Little Rock firms.
The Charlotte John Co. went from $98 million at No. 21 to $115.6 million at No. 15. iRealty went from $94.6 million at No. 23 to $111.1 million at No. 17.
At this point it’s important to explain real estate mathematics. The industry double-counts the sale of a house in recognition that the buyer and seller are often represented by different agents and companies.
The doubling reflects a system that acknowledges two sides to every transaction. However, instead of dividing the sales price of a property between the buyer’s agent/company and the sale’s agent/company to determine sales volume, both agents and companies get credit for the entire amount.
The real-world dollar total of houses sold is more like half the sales volume reported by companies and agents.
Conway’s Pam McDowell Properties (2016 sales volume of $72.7 million) was bought Dec. 1 by another Conway firm: ERA Team Real Estate.