Jeff Parker cites favorable interest rates for Murney’s increases.
Miles Noennig: CJR acquired key management personnel in 2014 and 2015.
Murney Associates, Realtors ranked No. 104 in the Real Trends 500 2016 list of the largest residential real estate firms, putting it on top of the heap in the Show-Me State.
Ranked in terms of transaction sides – where the firm represented a buyer, seller or both in a closing – Murney Associates counted 5,309 sides in 2015, up 9.6 percent from 4,844 sides in 2014, when the firm ranked No. 110.
The ranking put the Springfield firm ahead of 10 other Missouri brokerages predominantly located around St. Louis and Kansas City.
With 2015 sales of $887.7 million, the firm ranked No. 238 on the list by sales volume. Murney moved up 10 spots from its 2015 ranking based on 2014 volume of $722.2 million, an increase of nearly 23 percent. Only two in-state firms bested the brokerage on volume total, both Berkshire Hathaway HomeServices affiliates in St. Louis and Chesterfield posting over $900 million. Real Trends also named Murney No. 45 among top-selling independent agencies in 2015.
Murney Managing Broker Jeff Parker credited the firm’s work in capturing more of a strengthening market.
“It’s a combination of the two, but for the most part the market is back – the market as a whole is up,” Parker said, also citing favorable interest rates.
Evidence is in an increase in agents at Murney. The active agent count is 442, Parker said, compared to 341 reported in October 2015 by Springfield Business Journal.
In its 29th year of publication by Castle Rock, Colo.-based industry analyst Real Trends, the RT 500 is based on independent verification of the firms’ sales metrics.
Murney cracked the list in 2000, when it was 3 years old, ranking No. 247 in closed transaction sides, No. 354 in sales volume of $241.78 million in 1999 and No. 93 among independent agencies.
The firm also appeared at No. 102 in 2012 for representing 3,916 sides during 2011, and ranking No. 197 with $530 million in transactions. That year, the firm was No. 44 among independent agencies.
Keller Williams’ rise
Also included on the list was the Springfield office of Keller Williams Realty. Keller Williams’ local brokerage ranked No. 321 based on representing 2,392 sides in 2015, a 31 percent jump from 2014 when the company ranked No. 374. Keller Williams was just outside the list in terms of sales with $418 million, up more than 41 percent from $296 million in 2014, said CEO Chris Russell.
“The market is strong, and we take that into account,” Russell said. “I think every real estate office in town has seen that. We’re calling it ‘The Season of Records.’”
Citing data from the Greater Springfield Board of Realtors multiple listing service, Russell said January through May sales volume for 2016 is up 37 percent compared to the same period last year for Greene, Christian and Webster counties.
Like Murney, Russell said Keller Williams also is focused on attracting more talent, adding 62 agents since the beginning of the year. The firm currently has 230 compared to 168 agents reported in October 2015.
Although it didn’t crack the list in 2012, Keller Williams was noted as an up-and-comer.
CJR’s parent
Another Springfield firm made the top 500, but its numbers are somewhat hidden because they were reported inside of Minneapolis-based parent company HomeServices of America Inc.’s No. 2 ranking. Carol Jones Realtors joined the HomeServices network in 1997.
HomeServices posted 230,813 sides and $79.5 billion in 2015 sales. Within that, CJR Chief Administrative Officer Miles Noennig said the local office’s contributions were $310.4 million and 2,169 sides. Both categories are up almost 20 percent from 2014.
Noennig cited the company adding to its management team former Assist 2 Sell broker and owner Antonio Serrano in late 2014 and former ReMax House of Brokers broker and owner Jeff Kester in late 2015.
“The addition of those two very experienced and reputable brokers got the attention of the buying and selling public, and also the agents in town,” Noennig said, adding CJR counted 259 agents at the end of May, up from 211 in October 2015. “That reinforces the fact that we’ve recruited well, and the agents have been more productive.”
Topping both the sales volume and sides aspects of the Real Trends list was Madison, N.J.-based NRT LLC, a subsidiary of Realogy Corp. (NYSE: RLGY). The company, with 787 offices in 30 states, posted 2015 sales of $166.6 billion and 342,300 sides.
