Looking back on real estate services stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including CBRE (NYSE: CBRE) and its peers.

Technology has been a double-edged sword in real estate services. On the one hand, internet listings are effective at disseminating information far and wide, casting a wide net for buyers and sellers to increase the chances of transactions. On the other hand, digitization in the real estate market could potentially disintermediate key players like agents who use information asymmetries to their advantage.

The 12 real estate services stocks we track reported a satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 2.6% while next quarter’s revenue guidance was 0.9% above.

Luckily, real estate services stocks have performed well with share prices up 43.1% on average since the latest earnings results.

CBRE (NYSE: CBRE)

Established in 1906, CBRE (NYSE: CBRE) is one of the largest commercial real estate services firms in the world.

CBRE reported revenues of $9.75 billion, up 16.2% year on year. This print exceeded analysts’ expectations by 4.3%. Overall, it was a very strong quarter for the company with an impressive beat of analysts’ adjusted operating income estimates and a beat of analysts’ EPS estimates.

“The strong momentum we exhibited to start the year continued in the second quarter. Despite uncertainty in the macro environment, occupier and investor clients largely proceeded with executing their plans,” said Bob Sulentic, CBRE’s chair and chief executive officer.

Interestingly, the stock is up 10.5% since reporting and currently trades at $162.12.

Is now the time to buy CBRE? Access our full analysis of the earnings results here, it’s free.

Best Q2: The Real Brokerage (NASDAQ: REAX)

Founded in Toronto, Canada in 2014, The Real Brokerage (NASDAQ: REAX) is a technology-driven real estate brokerage firm combining a tech-centric model with an agent-centric philosophy.

The Real Brokerage reported revenues of $540.7 million, up 58.7% year on year, outperforming analysts’ expectations by 12.1%. The business had a stunning quarter with EPS in line with analysts’ estimates and a solid beat of analysts’ EBITDA estimates.

The Real Brokerage pulled off the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems happy with the results as the stock is up 28.2% since reporting. It currently trades at $5.26.

Is now the time to buy The Real Brokerage? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: eXp World (NASDAQ: EXPI)

Founded in 2009, eXp World (NASDAQ: EXPI) is a real estate company known for its virtual, cloud-based approach to real estate brokerage.

eXp World reported revenues of $1.31 billion, up 1.1% year on year, exceeding analysts’ expectations by 0.6%. Still, it was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 1.8% since the results and currently trades at $11.04.

Read our full analysis of eXp World’s results here.

Newmark (NASDAQ: NMRK)

Founded in 1929, Newmark (NASDAQ: NMRK) provides commercial real estate services, including leasing advisory, global corporate services, investment sales and capital markets, property and facilities management, valuation and advisory, and consulting.

Newmark reported revenues of $759.1 million, up 19.9% year on year. This print surpassed analysts’ expectations by 10.7%. Overall, it was a very strong quarter as it also produced full-year revenue guidance exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

Newmark scored the highest full-year guidance raise among its peers. The stock is up 24.4% since reporting and currently trades at $18.

Read our full, actionable report on Newmark here, it’s free.

Cushman & Wakefield (NYSE: CWK)

With expertise in the commercial real estate sector, Cushman & Wakefield (NYSE: CWK) is a global Chicago-based real estate firm offering a comprehensive range of services to clients.

Cushman & Wakefield reported revenues of $2.48 billion, up 8.6% year on year. This result topped analysts’ expectations by 4.6%. It was an exceptional quarter as it also logged a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is up 27.9% since reporting and currently trades at $15.77.

Read our full, actionable report on Cushman & Wakefield here, it’s free.

Market Update

Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.

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