@properties Bolsters Leading Market Share In First Half of 2013; Becomes Illinois’ Largest Independent Realty Firm
Chicago real estate firm @properties continued to build on its leading market share in the city of Chicago and its rapid growth along the North Shore in the first half of 2013. Midway through the second quarter, the firm also reached another milestone: @properties became the largest independent real estate brokerage firm in Illinois, ranking ahead of Baird & Warner in closed residential sales volume, year to date, for the first time in the company’s 13-year history.
According to data from BrokerMetrics, LLC, which analyzes sales and market information from Midwest Real Estate Data, LLC, Chicago’s regional multiple listing service, @properties had closed residential sales volume of $1.90 billion and market share of 7.25 percent from January 1 through June 30, 2013, versus sales volume of $1.76 billion and market share of 6.71 percent for Baird & Warner. Coldwell Banker Residential Brokerage, which is owned by Parsippany, New Jersey-based Realogy Holdings Corp., is the region’s largest broker.
In the city of Chicago, @properties held its position as the No. 1 residential brokerage firm, with market share of 15.46 percent through June 30, based on closed sales volume of $1.26 billion. The No. 2 broker had market share of 10.91 percent.
Meanwhile, on the North Shore, @properties remains the second largest and fastest-growing brokerage firm with 17.9 percent market share, an increase of 17.2 percent year-over-year – the largest increase among the region’s top firms. @properties’ North Shore sales volume was up 50.5 percent in the first half of 2013, compared with the year-ago period, also the largest gain among the area’s top firms.
“I’m proud not only of how much we’ve grown but also the manner in which we’ve grown. It isn’t by mergers and acquisitions; it’s the result of 1,200 agents individually making the choice to work here because they believe @properties offers them a better career in real estate,” said @properties co-founder Thaddeus Wong.
Michael Golden, co-founder of @properties, noted the significance of overtaking Chicago’s oldest real estate company for the title of largest independent. “Baird & Warner has been around for more than 150 years. We’ve been at it for 13. That really puts our growth in perspective and speaks to the power of innovation at our firm,” Golden said.
This year, @properties has opened new offices in the Uptown neighborhood on Chicago’s North Side and in New Buffalo, Mich. It will open an office in north-suburban Glenview later this summer. It also rolled out an internal mobile application that allows agents to market pocket listings and share information on vendors and other resources. Finally, in June, Golden & Wong were named winners of the Ernst & Young Entrepreneur of the Year™ 2013 Award in the Midwest, in the Service category.