CHICAGO – (5/31/17) – In a recent survey of more than 3,000 U.S. homeowners, consumers indicated a strong preference for working with sales associates affiliated with local independent brands. More than 88% said they preferred working with an agent with a “well-known, local real estate company,” while 12% preferred those affiliated with a national franchise.
This was one of several responses describing how today’s consumers buy and sell real estate as part of a broad-based, wide-ranging U.S. consumer segmentation study conducted on behalf of Leading Real Estate Companies of the World® (LeadingRE) by McKee Wallwork + Co. and Decision Analyst.
This particular finding on the appeal of independent brokerages is supported by another third-party source, the REAL Trends 500 ranking of the top 500 residential real estate firms in the U.S. The data collected from brokerages around the country indicates that LeadingRE produced 25.7% of the total sales units among the top 500 brokerages in the U.S., outselling any single franchise network, and that has been the case for more than 10 consecutive years. LeadingRE members also represented 14 of the top 25 firms in the U.S. in sales volume for 2016.
In terms of total sales for all brokerages in each network, LeadingRE’s residential real estate firms outperformed their nearest network competitor by $62 billion, producing 1.1 million sales units valued at $368 billion in home sales.
“Year after year, the independent firms that comprise our network demonstrate their market leadership locally and collectively as an international community focused on delivering the most exceptional customer experiences,” said LeadingRE President/CEO Pam O’Connor. “This is consistent with the growth in popularity of local restaurants, locally-branded divisions of major hotel franchisors, and other locally-sourced retail goods and services that offer the brand differentiation and community roots that appeal to many of today’s consumers as compared to big box brands of the past.”
Figures for the top 500 firms are verified and published by REAL Trends each April. Figures for total sales of all networks are estimated by using average sales units per agent for each network’s firms in the REAL Trends 500, multiplied across each network’s entire agent population.
With member firms in 65 countries, Leading Real Estate Companies of the World® selects only the highest quality, market-leading independent companies for membership and supports them with its robust referral network, award-winning professional development programs, Luxury Portfolio marketing program, and events providing meaningful connections to people and opportunities worldwide.