Long & Foster Real Estate, the No. 1 privately owned residential real estate company in the United States, earned a top position on the 28th annual Power Broker Report from RISMedia, a real estate trade publication. Long & Foster ranked as the No. 3 real estate firm in the United States based on 2015 sales volume and transactions on the list. The family-owned brokerage’s total sales volume exceeded $29.1 billion in 2015, representing 82,259 closed residential transactions.
“We’re honored to have received this distinguished ranking, which showcases Long & Foster’s continued commitment to helping our clients achieve their real estate dreams,” said Jeffrey S. Detwiler, president and COO of The Long & Foster Companies, parent company of Long & Foster Real Estate. “Our family of companies has a reputation of honesty, integrity and best-in-class customer service that spans nearly 50 years, and the talent and leadership of our distinguished agents and employees is why we remain such a dominant force in the industry.”
This year’s Power Broker Report is based on responses to RISMedia’s 2016 Power Broker Survey, distributed in early January. More than 1,600 real estate firms from across the country completed the Power Broker Survey, and the top 1,000 reported a collective 3,406,863 closed residential transactions in 2015, accounting for more than $1.1 trillion in sales volume.
Now in its 28th year, the Power Broker Report has long honored the incredible business feats of remarkable real estate leaders—and brokerage firms—who continue to shape our industry. Each April, RISMedia’s Real Estate magazine highlights the Top 500 Power Broker firms according to sales volume and transactions.
RISMedia President & CEO John Featherston congratulated Long & Foster for its prestigious ranking in this year’s Power Broker Report. “The firms represented are the nation’s most elite brokerage firms serving literally millions of consumers with their real estate needs,” Featherston said. “2015 was a growth year for many real estate firms across the country, despite continued inventory shortage in many areas. Today’s homebuyers and sellers need a trusted, credible real estate professional to help them understand the opportunities in today’s market and how to overcome the obstacles that may be holding them back. Being ranked in RISMedia’s Power Broker Report validates your firm’s reputation as a trusted resource for today’s real estate consumers.”
RISMedia’s Annual Power Broker Report ranks firms by closed transactions and sales volume for the prior year. The Top 500 rankings appear in the April issue of Real Estate magazine and online at rismedia.com. The complete ranking of the Top 1,000 firms, according to both sales volume and transactions, will be available later this spring at rismedia.com.
RISMedia’s 28th Annual Power Broker Report & Survey is based on results garnered from a survey distributed via email and available online at rismedia.com. The survey ranks residential real estate brokerage firms according to closed residential transaction numbers and closed residential sales volume for the year 2015. All sales and transaction data is submitted directly by brokerage firms and verified by the firm’s financial executives, outside accounting firms and /or corporate franchise headquarters.