Why Realogy Stock Fell 11% Today
Shares of Realogy Holdings (NYSE: RLGY) shed more than 11% of their value on Wednesday, following the company's release of its fourth-quarter results.
As the largest full-service residential real estate services company in the U.S., Realogy is particularly exposed to the threat posed by discount brokerages. Rapidly growing rivals such as Redfin (NASDAQ: RDFN) are providing significant cost savings to home sellers. Redfin charges home listing fees as low as 1%, which is significantly below the roughly 2.5% that Realogy's agents and other traditional brokerages' agents charge.
Realogy is facing stiffer competition for home listings. Image source: Getty Images.
Source Fool.com
