Strong Q1 results highlight HomeSmart’s continued growth and expansion
SCOTTSDALE, Ariz. — April 22, 2021 — HomeSmart has been ranked the fifth most successful brokerage in the country by transactions and eighth by volume in RISMedia’s 2020 Power Broker Report — the fourth year in a row it has secured a spot among the top 10 real estate companies recognized by the survey. The company also reported strong results for Q1 2021 that show continued momentum as the peak spring season gets underway.
HomeSmart was joined on the power ranking list by 15 other HomeSmart franchises from across the nation, including PalmerHouse Properties; its largest acquisition to date that was announced last month. The Power 1000 Broker Report is released annually by RISMedia recognizing the top-performing brokerages from across the nation, based on the previous year’s productivity numbers.
“I am really proud of how the HomeSmart team executed in what was without a doubt the most challenging year on record,” said Matt Widdows, HomeSmart’s founder and CEO. “Our technology leadership enabled us to stay ahead of the pandemic and drive strong results rather than have to react and pivot because of it.”
In 2020, the report shows HomeSmart’s corporate brokerage saw its sales increase 15% from the previous year, landing at a total sales volume of $15,817,842,829. The brokerage also closed 40,809 total transactions.
First Quarter Results: Agent Count Surpasses 22,000
HomeSmart’s acquisition of PalmerHouse Properties, it’s largest to date, was a key achievement in the first quarter of 2021. The deal added over 2,000 agents and six new markets to HomeSmart’s portfolio, growing its footprint to more than 22,250 total agents across 38 states. Other key performance highlights for the quarter included:
- 17 new offices
- 3 new states served: Alaska, Nebraska, and Tennessee
- 7 new franchise locations
- 24% net agent gain (+2,741)
“Even in an intense inventory-constrained environment, HomeSmart continues to leverage its cutting edge tech platforms and 100% commission model to outperform the market,” added HomeSmart President Ashley Bowers. “I feel great about how well we are positioned heading into the spring selling season. We are executing our plan and it’s paying off.”
HomeSmart’s long-term strategic plan is focused on accelerating its growth by scaling to more markets nationally, launching HomeSmart-grown cutting-edge tech platforms and tools, and advocating for needed changes and innovation that hold the real estate industry back.