Looking back on real estate services stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including JLL (NYSE: JLL) 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 59.3% on average since the latest earnings results.

JLL (NYSE: JLL)

Founded in 1999 through the merger of Jones Lang Wootton and LaSalle Partners, JLL (NYSE: JLL) is a company specializing in real estate advisory and investment management services.

JLL reported revenues of $6.25 billion, up 11% year on year. This print fell short of analysts’ expectations by 0.8%. Overall, it was a mixed quarter for the company.

Interestingly, the stock is up 15% since reporting and currently trades at $313.75.

Read our full report on JLL 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 an impressive beat of analysts’ EBITDA estimates.

The Real Brokerage scored the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems happy with the results as the stock is up 26.4% since reporting. It currently trades at $5.19.

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.

Interestingly, the stock is up 5.2% since the results and currently trades at $11.40.

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

Compass (NYSE: COMP)

Fueled by its mission to replace the "paper-driven, antiquated workflow" of buying a house, Compass (NYSE: COMP) is a digital-first company operating a residential real estate brokerage in the United States.

Compass reported revenues of $2.06 billion, up 21.1% year on year. This number was in line with analysts’ expectations. Taking a step back, it was a mixed quarter as it also recorded EBITDA guidance for next quarter exceeding analysts’ expectations.

The stock is up 27.7% since reporting and currently trades at $9.25.

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

Opendoor (NASDAQ: OPEN)

Founded by real estate guru Eric Wu, Opendoor (NASDAQ: OPEN) offers a technology-driven, convenient, and streamlined process to buy and sell homes.

Opendoor reported revenues of $1.57 billion, up 3.7% year on year. This result beat analysts’ expectations by 4.2%. Aside from that, it was a mixed quarter as it also logged EPS in line with analysts’ estimates.

The stock is up 280% since reporting and currently trades at $9.64.

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

Market Update

The Fed’s interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump’s presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025.

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