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Residential real estate brokerages: ranked by dollar volume of L.A. County sales.

Article Excerpt
EXECUTIVE SUMMARY

A slowing housing market led to declines in dollar and unit volume for L.A. County's largest residential brokerages. The 25 largest brokerages saw combined sales volume decline to $53.8 billion for the 12-month period ended June 30, down $2.3 billion or 4 percent compared with the same period a year earlier.

Unit volume saw an even steeper decline. Total units sold fell by nearly 11,000 units to 64,410, a 14 percent decline compared with the year earlier period.

Nine firms saw dollar volume increase for the 12-month period ended June 30. Re/Max of Cerritos reported the largest percentage increase, up 36 percent to $595 million. Norwalk-based Century 21 All Stars and Northridge-based Pinnacle Estates Properties Inc. saw volume increase of 25 and 20 percent, respectively.

Only two firms saw dollar volume increase despite declines in unit volume. No. 2 Prudential California Realty John Aaroe Division sold 910 fewer units for the 12-month period ended June 30 but dollar volume increased by 1 percent, or $71 million. No. 15 MacGregor Realty saw unit volume decrease by 3 percent even as dollar volume increased by 3 percent.

THE PACESETTER

COLDWELL BANKER RESIDENTIAL BROKERAGE

WITH $22.5 billion worth of transactions for the 12 months ended June 30, Coldwell Banker Residential Brokerage is the largest residential brokerage in L.A. County.

However, Coldwell started to feel the pressures of a cooling housing market as units sold declined to 22,773, down 4,810 or 17 percent. Dollar volume did not register as sharp of a decline, however, as home prices continue to increase.

"We continue to see strong levels of activity in our multimillion dollar market," said Betty Graham, president and chief operating officer for Coldwell's Los Angeles and Orange County region.

The decline in unit sales was expected as buyers have shown apprehension based on uncertainty about the future of the market. "Buyers believe that prices will come down, so they have demonstrated a lack of motivation to participate," Graham said. Nevertheless, she cited still attractive interest rates, inventive lenders and a strong job market as factors that will continue to drive home sales in the region. "The activity in the marketplace shows a pent up demand."

One initiative helping the company make contact with potential buyers is its Lead Router software developed for its Web site. The technology notifies agents by cell phone within 12 seconds when a listing has been viewed on the Internet. "The agent can call a potential buyer while they are still looking at the listing online," Graham said.

Rank Brokerage (Ranking in 2005) Sales Volume * name (millions) * address * L.A./total 2006 (1) * Web site * L.A./total 2005 (2) 1 Coldwell Banker Residential $22,485.1/NA Brokerage (1) $23,950.2/NA 11611 San Vicente Blvd., Ninth Floor Los Angeles 90049 californiamoves.com 2 Prudential California Realty John Aaroe 6,581.9/22,315.9 Division (2) 6,510.5/24,455.9 11111 Santa Monica Blvd., Suite 600 Los Angeles 90025 prudentialcal.com 3 RE/MAX All Cities Realty (3) 3,350.2/3,678.1 400 S. Sepulveda Blvd., Suite 100 3,234.5/3,519.8 Manhattan Beach 90266 realestatelosangeles.com 4 Prudential California Realty/Mulhearn 2,280.1/2,280.1 Group (5) 2,313.1/2,313.1 18000 Studebaker Road,...