2026 RealTrends Verified: The power players hold — but the real story is who’s gaining ground

The housing market remains in flux, setting the stage for this year’s RealTrends Verified rankings.

Inventory has improved but remains constrained, affordability continues to pressure buyers and brokerages are still adjusting to new policies around private listings. In turn, firms are rethinking how they recruit, retain and support agents — and the rankings offer a clear look at which strategies are gaining traction.

That dynamic is reflected in the 2026 RealTrends Verified brokerage rankings, based on 2025 production. It tells a familiar story at the top — and a much more interesting one just beneath it.

A total of 1,267 firms met RealTrends Verified standards this year, with each closing at least 500 transaction sides or $350 million in sales volume. Together, these brokerages accounted for $2.24 trillion in volume and 3.94 million transactions, underscoring just how concentrated production remains among the industry’s top performers.

“RealTrends Verified exists to set the standard — and this year’s growth underscores the value of a consistent benchmark,” Caroline Scanlon, director of RealTrends Verified, said in a statement. “When the market moves, the industry needs a trusted way to see who’s gaining share and who’s building on a real scale.”

The ‘fab four’ aren’t going anywhere — yet

At the top of the brokerage rankings, stability reigns.

Compass, prior to its acquisition of Anywhere, once again led all firms in sales volume at $262.2 billion, while eXp Realty retained its hold on the No. 1 spot for transaction sides with 343,091. Anywhere Advisors and HomeServices of America rounded out the top four across both metrics.

It’s a continuation of a trend that has defined the rankings for several years now: scale begets scale. The largest brokerages are not just holding their positions — they’re reinforcing them.

But if the top four feel locked in, the gap behind them is starting to narrow.

The Real Brokerage is no longer a disruptor — it’s a contender

The Real Brokerage, headed by CEO Tamir Poleg, continues to gain traction among the industry’s top firms.

The company held steady at No. 5 by sales volume at $65.2 billion, but more notably moved up to No. 5 by transaction sides, overtaking Hanna Holdings. That dual top-five position signals a shift: Real is no longer just growing fast — it’s now competing directly with legacy players on both scale and productivity.

That mirrors what was seen last year, when Real posted triple-digit growth and began climbing the rankings in earnest. This year’s data confirms that momentum wasn’t a one-off.

LPT Realty’s leap signals a new kind of growth engine

Continuing on last year’s theme, if there’s a breakout story in this year’s rankings, it’s Robert Palmer‘s LPT Realty.

The firm jumped from No. 10 to No. 7 in transaction sides, increasing its total to 61,041 sides. That kind of movement in a single year is rare at this scale and it reinforces a broader trend: Brokerage models built around flexibility, agent economics and rapid recruiting are still gaining traction.

LPT isn’t alone. Across the rankings, newer and nimble firms continue to climb, even as the very top remains relatively unchanged.

The middle of the top 10 is where the action is

While the top four brokerages by volume remained unchanged, the middle of the rankings saw subtle but meaningful shifts.

Hanna Holdings moved up to No. 6 by volume, while Douglas Elliman slipped to No. 7. Peerage Realty Partners entered the top 10, replacing United Real Estate.

These aren’t dramatic shakeups, but they do point to increased competition, where small gains in sides or volume can translate into meaningful rank changes.

Brands are reshuffling — and LeadingRE is surging

Keller Williams remains the clear No. 1 brand by both sides and volume. But beneath it, the hierarchy is shifting.

LeadingRE, a network of independent real estate firms, made the biggest leap, jumping from No. 5 to No. 2 by transaction sides and increasing its market share to 11.08%, up from 8.93%.

Meanwhile, Coldwell Banker and REMAX both slipped in the rankings and lost share.

That reshuffling signals a more competitive landscape — one where the gap beneath Keller Williams is tightening, and no single challenger has a firm grip on the No. 2 spot.

Independents are quietly taking share

One of the most important shifts in this year’s data is the continued rise of independent brokerages.

Independents accounted for 28.79% of market share this year, up from 26.98% last year.

That growth is showing up everywhere: Compass (pre-Anywhere acquisition), eXp Realty, The Real Brokerage, LPT Realty, Redfin and Side are all operating outside traditional franchise structures. And many of them are gaining ground.

The implication is clear. The industry isn’t abandoning brands, but it is increasingly embracing models that offer flexibility in compensation, technology and operations.

This year’s RealTrends Verified rankings show an industry defined by two competing forces: stability at the top and disruption just below it.

The largest brokerages continue to dominate, but the fastest-growing companies are steadily reshaping the leaderboard. The power structure isn’t breaking, but it is bending.