They always have an in house mortgage lender but it was not successful. I was not aware that they generate income from rental section as listing is free. I doubt they will get 10,000 origination loans a month. That is about 2% of US total mortgages(Revenue in $K)
Six Months Ended 2017 to 2018 % Change
June 30,
2018 2017
Revenue:
IMT segment:
Premier Agent $444,617 $365,026 +22%
Rentals $62,351 $ 45,255 +38%
Mortgages $38,328 $41,206 (-7)%
Misc $79,829 $61,138 +31%
Total IMT segment revenue $ 625,125 $512,625 22%
Homes segment - - N/A
Total revenue $625,125 $512,625 +22%
The key is premiere agent income is already saturated. No growth potential.