Some estimates put the Real Estate Industry as the #1 leading segment in the U.S. economy, responsible for as much as 13% of the country’s gross domestic product. Today, five companies from that industry – Century 21, Cushman & Wakefield, Re/Max, and relative newcomers HomeLight and Redfin. Let’s see how the five companies match up in terms of company culture, an increasingly important factor for the U.S. workforce. Using Comparably’s employee-submitted ratings and reviews, we can paint a picture of what its like to work for these players in America’s biggest industry.
OVERALL CULTURE
The first little gold trophy goes for overall culture goes to HomeLight, the San Francisco-based real estate referral company that was founded in 2012. Seattle-based brokerage Redfin, founded in 2004, is eight percentage points behind them. War horses Re/Max, Cushman & Wakefield, and Century 21 have to settle for B’s and C’s.
Century 21: “Our business is sales, and you can’t survive in sales without positive attitude. What I love about our company is the constant positive reinforcement from leadership and peers – we help to keep each other “afloat” mentally, so now one “sinks” into feeling discouraged and giving up.”
Cushman & Wakefield: “The company culture is pretty terrible. People don’t communicate well and try to one-up their co-workers to validate their job. Some offices are pretty great to work in, but not all.”
HomeLight: “The cool thing about HomeLight is that we’re not trying to reinvent anything, just move the power in Real Estate from the hands o& f the agent to the hands of the homeowner who wants to make smarter decisions for their home.”
Redfin: “Tech teams have team outings once a quarter on Redfin’s dime, however many teams also have team movie nights, dinner, play on rec teams together, go to happy hour, etc. The quarterly team outings are fun with the team typically choosing what to do.”
Re/Max: “It is a fast paced environment. Must be self motivated. They do not micro manage.”
CEO & LEADERSHIP
Another trophy goes to HomeLight for their very popular CEO, Drew Uher. Ten points back sits Redfin’s Glenn Kelman. And ten points behind him sits Re/Max’s Adam Contos. Century 21’s Greg Sexton and Cushman & Wakefield’s Brett White have to got scores in the mid-60s.
Century 21: “They are constantly looking for new ways of staff development and helping us all to grow professionally and personally. No pressure, just tons of opportunities to learn more and earn more. Very kind leadership team! Couldn’t ask for better bosses!”
Cushman & Wakefield: “The local leadership team is great, we very rarely hear from the leadership beyond that.”
HomeLight: “Drew is a pretty down-to-earth CEO and is very accessible (I literally ate lunch next to him in our kitchen). He’s also easy to access for feedback or assistance. He’s improved my sales pitch on numerous occasions. I think he has a great ability to be cordial and close with employees while maintaining professionalism, vision, and expectations. Sometimes Drew could take a breath and slowdown. Not all of us have the stamina or pace he does.”
Redfin: “The CEO, Glenn, is pretty inspirational.”
Re/Max: “The leadership team treats us as an extension of their family. We aren’t just employees to them.”
COMPENSATION
Relative spring chicken Redfin takes a trophy for Compensation, which tracks how employees feel about their company’s salary package. HomeLight and Re/Max, both with strong showings so far, land B’s for 2nd and 3rd placing, respectively. And it looks like both Century 21 and Cushman & Wakefield need to up their salary and incentive game if they want to attract top talent.
Century 21: “It depends on work effort and output – the more I bring in to the company, the more I get to keep. Sounds fair to me…”
Cushman & Wakefield: “I have a great salary.”
HomeLight: “The straight salary is fair but you have the ability to earn a very good compensation based on the effort you put in.”
Redfin: “We’re paid competitively, which is awesome. But most people here work for the mission. Which is also awesome.”
Re/Max: “Commission always can be better but I think the tiered system is fair.”
PERKS & BENEFITS
It’s Redfin again, with a strong perks & benefits package that is much appreciated by their employees. In second place in HomeLight with a slightly disappointing B-. Cushman & Wakefield, around since 1917, barely skates above the D rating that claims both Century 21 and Re/Max in this category.
Century 21: “30% discount. Vacation and sick pay. Fun days.”
Cushman & Wakefield: “They do allow you to work from home.”
HomeLight: “Medical, dental, vision. PTO, optional floating holidays, catered lunch Sat-Tue, occasionaly Happy Hours, team building events quarterly, occasional remote access, stocked kitchen and beverage station.”
Redfin: “Great health benefits and maternity leave plan.”
Re/Max: “Paid time off, sick and vacation. No medical, dental or retirement.”
DIVERSITY
Redfin takes a third trophy in the category of Diversity with a rare A+. HomeLight comes in second with a respectable score in an important category. From there, its a quick drop-0ff from Re/Max’s C rating to Cushman & Wakefield’s disappointing F score.
Century 21: “I would say Century 21 is 90% of the way there in terms of diversity.”
Cushman & Wakefield: “Like most commercial real estate companies it’s still heavily a white male company (I say as a white male). They are taking some initiative to change this, but it’s slow.”
HomeLight: “The team is very diverse and very knowledgable in their respective areas.”
Redfin: “Very diverse and welcoming culture.”
OUTLOOK
Century 21: “I love knowing that the company is built on excellence, integrity, and honesty – there is just no substitute for that. No benefit package would make up the difference if that foundation was gone.”
Cushman & Wakefield: “Hopefully they will bring back matching the 401K’s next year.”
HomeLight: “Thankful for the positive work environment, our amazing leadership team, the relationships I have with co-workers, the catered food, the great new office, the continued forward momentum, and the amazing growth we see on a daily basis.”
Redfin: “I can’t imagine a more enthusiastic, focused yet fun, energetic and intelligent group of people. I can honestly say I look forward to seeing them each day! Teamwork or ego, authenticity over appearance, quirkiness celebrated.”
Re/Max: “Overall I am extremely excited to be a part of RE/MAX. I am able to contribute and learn from others.”
HomeLight takes a third trophy for the Outlook category, which tracks how employees feel about the future of their company. That ties Redfin’s three wins, meaning relative newcomers HomeLight and Redfin win this one. Time and again we’ve seen that older companies have a hard time keeping up with or implementing the kind of culture policies that make a modern company attractive to young, new talent. It seems this old story also applies to the Real Estate Industry.
