US Real Estate Franchises Lift Sales as Outlet Numbers Fall

Real estate franchises in the latest Franchise Times Top 400 recorded higher combined sales despite operating fewer outlets, offering a mixed picture of growth across the US franchise community. Sales reached $27.8 billion, up 6.6% from $26.1 billion, while the number of units fell from 12,853 to 12,505.

Higher sales across a smaller network

The figures, reported by Franchise Times on 15 October 2026, show that an expanding physical footprint was not necessary for the real estate brands covered by the ranking to increase their combined sales. The outlet count declined by 348 even as total sales rose.

That distinction matters when assessing franchise performance. Network expansion and sales growth are separate measures: a brand can increase its reported sales without adding locations, while a larger estate does not automatically establish stronger performance at individual offices.

The Top 400 ranks franchise brands by total systemwide sales. Its real estate results provide a useful comparison of the scale and direction of participating brands, rather than a measure of the earnings available to an individual franchisee.

The headline increase also masks different experiences among the businesses listed. Some recorded substantial gains, others grew only slightly, and at least one of the largest names reported a decline. For prospective owners, the combined result is therefore a starting point for investigation rather than a uniform account of trading conditions.

Re/Max retains its leading position

Re/Max remained the highest-ranked real estate brand at No. 14 in the Top 400. Franchise Times reported sales growth of 14.9%, with sales rising from approximately $10.3 billion to $11.9 billion.

Keller Williams Realty followed at No. 16, slipping one place from its position in the 2025 ranking. Its estimated sales reached $10.1 billion in 2025, compared with $10 billion in 2024 and $9.9 billion in 2023.

However, that recent improvement did not restore Keller Williams to its earlier sales level. The latest figure remained below the $12.2 billion recorded in 2022, illustrating how a positive annual comparison can sit within a longer period of adjustment.

Two other real estate brands reported more than $1 billion in sales. Berkshire Hathaway HomeServices ranked No. 37 with $3.2 billion, while HomeVestors ranked No. 58 with $1.5 billion. HomeVestors’ sales were down 3.3%, contrasting with the overall increase across the real estate group.

Together, these results underline the importance of looking beyond ranking positions. A place in the table establishes relative scale, but the underlying sales trend gives a different and necessary perspective.

Smaller brands post stronger percentage gains

Iron Valley Real Estate delivered the strongest real estate franchise sales growth highlighted in the report. Sales rose from $88 million in 2024 to $114 million in 2025, an increase of nearly 30%.

The business, now in its tenth year, moved up to No. 319 in the Top 400. Franchise Times attributed its momentum to a normalising market and internal strategic moves.

United Real Estate also recorded a substantial increase. Ranked No. 102, it reported estimated sales growth of 19.3%, taking its total from $657 million to $784 million and placing it close to the ranking’s top 100.

These gains add another dimension to the broader results. The largest businesses continued to account for substantial sales totals, but some smaller networks achieved faster percentage growth. Size and growth rate tell different stories, and neither should be treated as a substitute for examining a franchise opportunity in detail.

What the figures mean for franchise buyers

For the US franchise community, the central finding is that higher combined sales coincided with fewer outlets. That is a meaningful network-level development, but it does not establish that every remaining office became more productive or profitable.

The timing also matters: the brand sales comparisons discussed here largely concern 2025 performance, although the ranking was published in 2026. Buyers should distinguish that historical record from current local trading conditions.

Practical takeaway: Use the Top 400 figures to frame questions, not predict returns. Ask franchisors for current local performance evidence, office-level costs and the reasons behind changes in their network size before making an investment decision.