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Franchisor strengths and threats revealed in earnings week

05/06/2017

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Money, money, money. This was Q1 earnings week for real estate — Realogy, Zillow, Keller Williams and Re/Max. So what is the verdict? Together, they tell a happy happy story. The housing market is healthy with low cholesterol and a strong heartbeat — despite anemic economic growth, a listings shortage and higher interest rates. But this week’s financial reports also show that there are conquerors, re-groupers and re-assemblers. Not everyone’s growth story is equal. Like the vibe at an EDM music festival, results from Zillow and Keller Williams are ebullient, while Realogy and Re/Max are more subdued — growing but at slower rates as they adjust to new market realities. Boom! Zillow’s revenue grew 32 percent year-over-year, to a record $245.8 million in Q1, expecting to surpass the enviable $1 billion revenue mark this year. Traffic for the quarter was somewhere between the moon and Mars. If you are in the real estate business, it becomes increasingly difficult t…

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