Financial Performance - Revenue for the third quarter of 2025 was $193.9 million, a 15.1% increase year-over-year[11] - Net income for the third quarter of 2025 was $0.2 million, a 104.5% increase year-over-year[11] - Sales volume for the third quarter of 2025 was $12.2 billion, a 1.7% increase year-over-year[11] - Year-to-date revenue reached $511.2 million, up 12.1% year-over-year[12] - Year-to-date net loss was $(15.2) million, a 27.2% decrease year-over-year[12] Brokerage Operations - Real estate brokerage commissions revenue for the third quarter of 2025 was $162.2 million, up 14.2% year-over-year[13] - Brokerage sales volume for the third quarter of 2025 was $8.4 billion, a 2.0% decrease year-over-year[13] - Financing fees revenue for the third quarter of 2025 was $26.3 million, up 27.7% year-over-year[17] - Financing sales volume for the third quarter of 2025 was $2.9 billion, a 34.4% increase year-over-year[17] Market Trends - Private investors dominate the U S commercial real estate market, accounting for 57% of dollar volume[34]