Realogy’s homesale transaction volume up 3% in second quarter

Realogy reported homesale transaction volume of $ 152 billion, up 3 percent from this time last year in its second-quarter earnings for 2018 Friday morning.

The gigantic franchisor reported revenue of $ 1.82 billion and attributed its increase in homesale transaction volume to a 4 percent jump in volume throughout Realogy Franchise Group and a 1 percent gain at the brand NRT.

“We are excited that some of our early 2018 efforts are starting to drive results. We outperformed the market on transaction volume, we began to see the expense benefits from our expanded focus on operating efficiency and our Operating EBITDA exceeded Q2 2017,” Realogy CEO Ryan Schneider said in a statement released before Realogy’s quarterly call with investors. “We are moving quickly to make strategic changes to improve profitability over time, anchored in growing our base of independent sales agents at both NRT and RFG and providing agents compelling service, data and technology products to allow them to increase their productivity.”

Realogy attributed its 2 percent increase in revenue to that increase in transaction volume, measured as transaction sides multiplied by average sale price. The company reported net income of $ 123 million, compared to $ 109 million a year ago.

This is a developing story…

Email Emma Hinchliffe

Inman