What a Biden presidency could mean for the housing market

We discuss David Stevens’ recent article that examines what the housing market could look like in a Biden administration.

Biden picks Janet Yellen to be next Treasury Secretary

The former head of Federal Reserve would be first woman to lead Treasury Department

Buying a home in a competitive market

We couldn’t be more thrilled about interviewing a real estate agent for the second episode of Girlfunds, a show where we give you our two cents on money.

Ushering in the future borrower experience

As Katherine Campbell drives toward a one-touch mortgage, she’s taking time to share what she has learned along the way.

Real Estate

Realogy reports $1.9 billion in revenue in Q3

Closed transaction volume was up 28% year over year

Realogy Holdings Corp. released its third-quarter earnings report on Thursday, revealing revenue of $1.9 billion, an increase of 20% year over year, or $307 million. In Q2 the company reported a revenue of $1.2 billion for the three months ended June 30.

The Madison, New Jersey-based company also reported a net income of $145 million from continuing operations and a net income of $98 million including discontinued operations in Q3.

The company’s closed transaction volume increased 28% year over year.

EBITDA was at $309 million for Q3, an increase of $103 million year over year. The company’s title and mortgage business brought in $95 million EBITDA in Q3.

“In the third quarter, Realogy continued to execute from a position of strength, delivering exceptional top-line and bottom-line growth,” Charlotte Simonelli, Realogy’s executive vice president, chief financial officer and treasurer, said.

“We improved operating margins, captured greater share of transaction economics with our mortgage joint venture and title operations, stayed laser focused on cost management and simplification, and strengthened our balance sheet. Overall, Realogy’s financial profile is much stronger today, and I am optimistic for our future,” Simonelli said.


What subservicing looks like during a pandemic

As the world continues to navigate the impacts of COVID-19, HousingWire sat down with TMS to learn more about their customer service philosophy and why proactively educating borrowers on forbearance is essential.

Presented by: TMS

Sales of Realogy’s brokerage group increased 10% year over year in Q3 and the average home sale price increased 11%, to $563,513.

“I am incredibly proud of Realogy’s third quarter,” Ryan Schneider, Realogy’s chief executive officer and president said. “We generated $309 million of Operating EBITDA, grew closed transaction volume 28%, gained market share, and materially reduced our debt.”

“Our strategic progress, agent and brand power, and technology initiatives, amplified by the very strong housing market, drove Realogy’s results. And with very strong preliminary October volumes, we are excited as we look ahead,” Schneider said.

Leave a comment

Most Popular Articles

DOJ sues NAR for alleged antitrust violations

The DOJ filed a lawsuit against NAR on Thursday, alleging a series of violations of antitrust law, including commission arrangements and consumer disclosure requirements.

Nov 19, 2020 By

Latest Articles

2021 housing market forecast: It’s about politics, not economics

COVID-19 protections for households and support for financial markets are set to expire at the end of 2020. How will this impact the housing market in 2021?

Nov 23, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please