15 Top Multifamily Brokerage Firms of 2023

There was some cooling from post-pandemic highs in 2022, but the multifamily sector maintained its excellent performance. National occupancy rates dropped slightly from the previous year but remained stable at 95 percent. Rents grew more slowly but still climbed 11.8 percent, according to Yardi Matrix data. As a result of persistently high home mortgage rates, the multifamily market continues to experience high demand and, therefore, investment activity.

In 2022, multifamily sales volume totaled more than $230 billion, down just 60 basis points from 2021’s record-breaking performance after a tough 2020, when sales volume dropped to $111.6 billion as the pandemic stalled activity.

MHN’s 2023 Top Brokerage Firms ranking features many of the key players behind that strong investment activity. Usurping CBRE, Marcus & Millichap earned this year’s overall ranking, based on a balance among market share, growth and other factors. The firm's total investment sales volume surpassed $46.8 billion for 2022, double what the organization accomplished just two years prior and close to the $49.7 billion it completed in 2019, before COVID struck the U.S.