SAN JUAN CAPISTRANO, CALIF./ APRIL 15, 2019 (STL.News)
Three new categories of data – MLS organizations, State Realtor Associations and Local Realtor Associations have now been added to the already very extensive and widely recognized Mega 1000 rankings researched by T3 Sixty annually.
Close to 600 MLSs, 50 state Realtor associations and 1,100 local Realtor associations were surveyed and/or researched.
“Quality information enables leaders to make better decisions,” says Stefan Swanepoel, CEO of T3 Sixty, “and as industries – such as transportation, health, entertainment, retail, and real estate – undergo change, leaders are invariably concerned and tools like the Mega 1000 become invaluable.”
T3 Sixty, publishers of the Mega 1000 (annual company rankings), SP200 (annual executive rankings) and the Swanepoel Trends Report (annual trends analysis) invests thousands of hours every year to obtain a better understanding of the very fragmented vertical known as the residential real estate brokerage industry. T3 gathers data on thousands of companies and organizations, makes hundreds of telephone calls, and spends countless hours analyzing data in an attempt to produce the industry’s most comprehensive rankings.
Still, in the midst of a period of strong consolidation, the Multiple Listing Service numbers have dwindled from just over 800 in early 2014, down to nearly 600 organizations today. The rankings reflect how big certain MLS have grown as well as the emergence of new entities formed through consolidations.
California Regional MLS (CRMLS) regains the top position – at one stage upon the formation of Bright MLS after the merger of MRIS and TREND, there were statements indicating they had become the largest MLS. Year-end stats as of 12/31/18, however, confirms that CRMLS with a membership of 96,203 is now the undisputed largest MLS in the nation with Bright MLS a strong second at 88,071 members.
Overall 50% of MLS subscribers are served by 19 MLS organizations or approximately 3% of the MLS in the country.
Among the 50 state Realtor associations California, Florida and Texas not surprisingly claim the top three slots with a large margin. Interesting to note is that the top 10 state associations account for 58%, or 788,416, of the total Realtor membership while the bottom 10 account only for 2%, or 29,164, as of year-end 2018.
In the local association category, 19% of the 1,103 local Realtor associations account for approximately 80% of the total membership once again illustrating the disproportionality of the organized real estate world. The largest local associations have tens of thousands of members, great management teams and are able to provide high-quality services to their members, while the smallest of associations with as few as 11 members are challenged to provide meaningful resources with limited income.
The need for third-party rankings
“We often hear conflicting ranking claims by companies, especially brokerages, when different criteria are used to make a certain company reflect better. That’s regrettable and we hope that the rankings provided by T3 Sixty can become the official industry norm. Furthermore, it’s important that companies realize that it is not about any individual company or organization’s ranking per se, but more about the data that lies within the rankings. The insights that can be learned from the Mega 1000 data provide all with an invaluable tool to better understand the industry and prepare for change,” says Stefan Swanepoel.
About T3 Sixty
Exclusively serving the residential real estate brokerage industry, T3 Sixty provides real estate CEOs, business leaders, association and MLS executives, brokers and high-performance teams the knowledge, best practices, and support to grow their businesses. The company does this through management consulting, training and in-depth research and quality publications, such as its hallmark Swanepoel Trends Report, the SP200, the Mega 1000 and the DANGER Report. Find out more here.