A Look Back at Real Estate Services Stocks’ Q4 Earnings: Offerpad (NYSE:OPAD) Vs The Rest Of The Pack

April 15, 2025 at 05:05 AM EDT

OPAD Cover Image

Looking back on real estate services stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Offerpad (NYSE: OPAD) 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 13 real estate services stocks we track reported a satisfactory Q4. As a group, revenues beat analysts’ consensus estimates by 5.5% while next quarter’s revenue guidance was 1.2% below.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 18.6% since the latest earnings results.

Weakest Q4: Offerpad (NYSE: OPAD)

Known for giving homeowners cash offers within 24 hours, Offerpad (NYSE: OPAD) operates a tech-enabled platform specializing in direct home buying and selling solutions.

Offerpad reported revenues of $174.3 million, down 27.5% year on year. This print was in line with analysts’ expectations, but overall, it was a softer quarter for the company with a significant miss of analysts’ adjusted operating income estimates.

“In the fourth quarter, revenue exceeded the midpoint of our guidance, supported by a balanced mix of offerings. This performance was achieved with the support of our Renovate business surpassing $18 million in revenue for the year and our improved advertising efficiencies driven by our Agent Partnership Program growing to nearly a third of our acquisitions,” said Brian Bair, Offerpad’s CEO.

Offerpad delivered the slowest revenue growth of the whole group. The stock is down 33.6% since reporting and currently trades at $1.44.

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

Best Q4: 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 $350.6 million, up 93.4% year on year, outperforming analysts’ expectations by 16.8%. The business had an incredible quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

The Real Brokerage delivered the fastest revenue growth among its peers. The stock is down 4.3% since reporting. It currently trades at $4.74.

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

RE/MAX (NYSE: RMAX)

Short for Real Estate Maximums, RE/MAX (NYSE: RMAX) operates a real estate franchise network spanning over 100 countries and territories.

RE/MAX reported revenues of $72.47 million, down 5.4% year on year, falling short of analysts’ expectations by 2.7%. It was a softer quarter as it posted a significant miss of analysts’ adjusted operating income estimates.

RE/MAX delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. As expected, the stock is down 29.6% since the results and currently trades at $7.12.

Read our full analysis of RE/MAX’s results here.

Marcus & Millichap (NYSE: MMI)

Founded in 1971, Marcus & Millichap (NYSE: MMI) specializes in commercial real estate investment sales, financing, research, and advisory services.

Marcus & Millichap reported revenues of $240.1 million, up 44.4% year on year. This print beat analysts’ expectations by 20.2%. It was an incredible quarter as it also recorded a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Marcus & Millichap pulled off the biggest analyst estimates beat among its peers. The stock is down 15.6% since reporting and currently trades at $31.46.

Read our full, actionable report on Marcus & Millichap here, it’s free.

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 $10.4 billion, up 16.2% year on year. This result surpassed analysts’ expectations by 1.2%. Aside from that, it was a satisfactory quarter as it also produced a solid beat of analysts’ adjusted operating income estimates but a miss of analysts’ Advisory Services revenue estimates.

The stock is down 16.1% since reporting and currently trades at $118.11.

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

Market Update

As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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