| 1 | Cbre Group, INC. | USA | Dallas | 2121 N Pearl St Ste 300 | Dallas | 75201 | cbre.***** | 1906 | $35,767,000,000 | 140,000 | N/A | N/A | 3358676 |
| 2 | Jones Lang Lasalle Incorporated | USA | Chicago | 200 E Randolph St Fl 43-48 | Cook | 60601 | us.***** | 1968 | $23,432,900,000 | 112,100 | N/A | N/A | D04667689 |
| 3 | Anywhere Real Estate INC. | USA | Madison | 175 Park Ave | Morris | 07940 | anywhere.***** | 2006 | $5,692,000,000 | 7,905 | N/A | N/A | 4267926 |
| 4 | Sekisui House Us Holdings, LLC | USA | La Jolla | 4225 Executive Sq Ste 1070 | San Diego | 92037 | nashcommunities.***** | 2017 | $5,439,466,985 | 1,826 | N/A | N/A | 6301646 |
| 5 | Opendoor Technologies INC. | USA | Tempe | 410 N Scottsdale Rd Ste 1600 | Maricopa | 85281 | opendoor.***** | 2013 | $5,153,000,000 | 1,470 | N/A | N/A | 3649109 |
| 6 | Marriott Vacations Worldwide CORPORATION | USA | Orlando | 7812 Palm Pkwy | Orange | 32836 | marriottvacationsworldwide.***** | 1984 | $4,967,000,000 | 22,300 | N/A | N/A | 4982818 |
| 7 | Exp World Holdings, INC. | USA | Bellingham | 2219 Rimland Dr Ste 301 | Whatcom | 98226 | exprealty.***** | 2008 | $4,567,672,000 | 2,001 | N/A | N/A | 4581575 |
| 8 | Cushman & Wakefield Holdings, INC. | USA | New York City | 1290 Avenue of the Americas | New York | 10104 | cushmanwakefield.***** | 2015 | $3,227,532,247 | 43,000 | N/A | N/A | 2939811 |
| 9 | Cbre, INC. | USA | Dallas | 2100 Mckinney Ave Ste 300 | Dallas | 75201 | cbre.***** | 1971 | $3,075,977,900 | 12,617 | N/A | N/A | 0777218 |
| 10 | Newmark Group, INC. | USA | New York City | 125 Park Ave Fl 12 | New York | 10017 | nmrk.***** | 2016 | $2,738,502,000 | 7,500 | N/A | N/A | 6220800 |
| 11 | Invitation Homes INC. | USA | Dallas | 5420 Lyndon B Johnson Fwy Ste 600 | Dallas | 75240 | invitationhomes.***** | 2012 | $2,618,942,000 | 1,750 | N/A | N/A | N/A |
| 12 | Homeservices Of America, INC. | USA | Minneapolis | 6800 France Ave S Ste 600 | Hennepin | 55435 | homeservices.***** | 1998 | $2,106,511,574 | 4,186 | N/A | N/A | 3050064 |
| 13 | Anywhere Real Estate Group LLC | USA | Madison | 175 Park Ave | Morris | 07940 | anywhere.***** | 2006 | $1,887,555,865 | 7,965 | N/A | N/A | 4099368 |
| 14 | Carolwood Partners INC. | USA | Beverly Hills | 9440 Santa Monica Blvd Ph | Los Angeles | 90210 | drewfenton.***** | 2022 | $1,667,925,000 | 7 | N/A | N/A | 202251513188 |
| 15 | Forestar Group INC. | USA | Arlington | 2221 E Lamar Blvd Ste 790 | Tarrant | 76006 | forestargroup.***** | 2017 | $1,509,400,000 | 393 | N/A | N/A | 4085648 |
| 16 | Lincoln Property Company | USA | Dallas | 8111 Douglas Ave Ste 600 | Dallas | 75225 | lpc.***** | 1979 | $1,324,967,544 | 3,788 | N/A | N/A | 751979005 |
| 17 | Obayashi USA, LLC | USA | Foster City | 950 Tower Ln Ste 800 | San Mateo | 94404 | obayashi.***** | 2002 | $1,287,221,848 | 1,302 | N/A | N/A | 3472589 |
| 18 | Wyndham Resort Development CORPORATION | USA | Orlando | 6277 Sea Harbor Dr | Orange | 32821 | worldmark.***** | 1989 | $1,274,981,713 | 2,000 | N/A | N/A | 16215287 |
| 19 | Federal Realty Op LP | USA | North Bethesda | 909 Rose Ave Ste 200 | Montgomery | 20852 | federalrealty.***** | 2022 | $1,202,452,000 | 116 | N/A | N/A | 6381985 |
| 20 | Kilroy Realty, L.P. | USA | Los Angeles | 12200 W Olympic Blvd Ste 200 | Los Angeles | 90064 | kilroyrealty.***** | 1996 | $1,129,694,000 | 248 | N/A | N/A | 2669592 |
| 21 | Tiaa Real Estate Account | USA | New York City | 730 3rd Ave | New York | 10017 | tiaa.***** | 2011 | $1,078,600,000 | 5 | N/A | N/A | N/A |
| 22 | Redfin CORPORATION | USA | Seattle | 1099 Stewart St Ste 600 | King | 98101 | redfin.***** | 2002 | $1,042,979,000 | 4,778 | N/A | N/A | 00580942 |
| 23 | Offerpad Solutions INC. | USA | Tempe | 433 S Farmer Ave Ste 500 | Maricopa | 85281 | offerpad.***** | 2015 | $918,819,000 | 200 | N/A | N/A | 3561526 |
| 24 | Casago Holdings, LLC | USA | Scottsdale | 15475 N Greenway Hayden Loop Ste B2 | Maricopa | 85260 | casago.***** | 2024 | $910,485,000 | 4,300 | N/A | N/A | 4707299 |
| 25 | American Campus Communities Operating Partnership LP | USA | Austin | 12700 Hill Country Blvd Ste T-200 | Travis | 78738 | americancampus.***** | 2004 | $870,584,000 | 570 | N/A | N/A | M10103729 |
| 26 | Kite Realty Group, L.P. | USA | Indianapolis | 30 S Meridian St Ste 1100 | Marion | 46204 | kiterealty.***** | 2004 | $841,842,000 | 227 | N/A | N/A | 3783537 |
| 27 | Greystar Real Estate Partners LLC | USA | Charleston | 465 Meeting St Ste 500 | Charleston | 29403 | greystar.***** | 1993 | $758,376,478 | 4,600 | N/A | N/A | 3339410 |
| 28 | Marcus & Millichap, INC. | USA | Calabasas | 23975 Park Sorrento Ste 400 | Los Angeles | 91302 | marcusmillichap.***** | 1971 | $696,060,000 | 897 | N/A | N/A | 5332010 |
| 29 | 3107 Willow LLC | USA | San Francisco | 1819 Polk St | San Francisco | 94109 | N/A | 2018 | $598,246,000 | 2 | N/A | N/A | 201810210153 |
| 30 | The Irvine Company LLC | USA | Newport Beach | 550 Newport Center Dr | Orange | 92660 | irvinecompany.***** | 1977 | $579,208,460 | 2,000 | N/A | N/A | 2725288 |
| 31 | Cb Richard Ellis Real Estate Services, LLC | USA | New York City | 200 Park Ave Fl 19 | New York | 10166 | cbre.***** | 2003 | $565,958,120 | 6,000 | N/A | N/A | 2317640 |
| 32 | Kennedy-Wilson Holdings, INC. | USA | Beverly Hills | 151 el Camino Dr | Los Angeles | 90212 | kennedywilson.***** | 1977 | $531,400,000 | 248 | N/A | N/A | 4385645 |
| 33 | Bluegreen Vacations CORPORATION | USA | Surfside | 8801 Collins Ave | Miami-dade | 33154 | bluegreenvacations.***** | 1966 | $521,112,000 | 5,412 | N/A | N/A | P14000021808 |
| 34 | Marquette Real Estate Holdings LLC | USA | Bloomington | 3500 American Blvd W Ste 200 | Hennepin | 55431 | northmarq.***** | 1998 | $502,546,880 | 520 | N/A | N/A | N/A |
| 35 | Office Properties Income Trust | USA | Newton | 255 Washington St Ste 300 | Barnstable | 02458 | govreit.***** | 2009 | $501,979,000 | 1,000 | N/A | N/A | D12915401 |
| 36 | Tishman Speyer Properties, L.P. | USA | New York City | 45 Rockefeller Plz Fl Conc1 | New York | 10111 | tishmanspeyer.***** | 1984 | $498,101,125 | 1,510 | N/A | N/A | 1596307 |
| 37 | The Carlyle Group INC | USA | West Hollywood | 9073 Nemo St Ste 100 | Los Angeles | 90069 | carlyle.***** | 1975 | $496,860,394 | 882 | N/A | N/A | 0738895 |
| 38 | Weichert CO | USA | Morris Plains | 1625 State Route 10 | Morris | 07950 | weichert.***** | 1975 | $493,243,746 | 2,550 | N/A | N/A | 0100003862 |
| 39 | Trammell Crow Company | USA | Dallas | 2100 Mckinney Ave Ste 800 | Dallas | 75201 | trammellcrow.***** | 2006 | $489,375,705 | 6,000 | N/A | N/A | 752399745 |
| 40 | The Flacks Group | USA | Miami | 1450 Brickell Ave | Miami-dade | 33131 | flacksgroup.***** | 2012 | $482,937,999 | 1,500 | N/A | N/A | N/A |
| 41 | Century 21, INC. | USA | New York City | 22 Cortlandt St | New York | 10007 | century21.***** | 1984 | $478,131,561 | 3,000 | N/A | N/A | 959949 |
| 42 | Newmark & Company Real Estate, INC. | USA | New York City | 125 Park Ave Fl 12 | New York | 10017 | newmarkkf.***** | 2011 | $423,972,323 | 2,250 | N/A | N/A | 1598598 |
| 43 | Transwestern Commercial Services, L.L.C. | USA | Houston | 1900 West Loop S Ste 1300 | Harris | 77027 | transwestern.***** | 1998 | $404,981,532 | 2,172 | N/A | N/A | 2887228 |
| 44 | The St Joe Company | USA | Panama City Beach | 130 N Richard Jackson Blvd Ste 200 | Bay | 32407 | joe.***** | 1936 | $402,737,000 | 1,057 | N/A | N/A | 132442 |
| 45 | Boardwalk Ig Management, LLC | USA | Costa Mesa | 1945 Placentia Ave Ste D | Orange | 92627 | boardwalkinvest.***** | 2015 | $359,484,872 | 362 | N/A | N/A | 810819781 |
| 46 | Fathom Holdings INC. | USA | Cary | 2000 Regency Pkwy Ste 300 | Wake | 27518 | fathomrealty.***** | 2010 | $335,184,000 | 270 | N/A | N/A | 1592962 |
| 47 | Housing Authority Of The County Of Santa Clara | USA | San Jose | 505 W Julian St | Santa Clara | 95110 | scchousingauthority.***** | 2013 | $315,933,842 | 4 | N/A | N/A | N/A |
| 48 | Bridge Housing CORPORATION | USA | San Francisco | 600 California St Fl 900 | San Francisco | 94108 | sfethics.***** | 1983 | $310,919,000 | 163 | N/A | N/A | 1112986 |
| 49 | Rmco, LLC | USA | Denver | 5075 S Syracuse St | Denver | 80237 | remax.***** | 2010 | $307,685,000 | 340 | N/A | N/A | 4808653 |
| 50 | RE/MAX Holdings, INC. | USA | Denver | 5075 S Syracuse St | Denver | 80237 | remaxholdings.***** | 1973 | $307,685,000 | 536 | N/A | N/A | 5354307 |