By Jorge Mercado Tuesday, February 18th, 2025

Marcus & Millichap, a national real estate services firm based in Calabasas but with several operations along the Central Coast, reported its fourth quarter and full year 2024 financial results on Feb. 14.

For the quarter ended Dec. 28, Marcus & Millichap reported total revenue of $240.1 million, up from $166.2 million in the same quarter a year ago.

Net income was at $8.5 million, or 22 cents per share, compared to a net loss of $10.2 million in the fourth quarter of 2023, or 27 cents loss per share.

Adjusted for one-time losses, net income was at $18 million for the quarter.

Hessam Nadji, Marcus & Millichap’s president and CEO, said the company achieved its “highest quarterly revenue in two years.”

“Our performance was driven by our efforts to increase exclusive inventory and elevate client outreach throughout the year and a favorable interest rate environment in the Fall of 2024 that spurred transactions,” he added.

For the year, total revenue was at $696.1 million, up from $645.9 million in 2023.

The company had a net loss of $12.4 million, which was better than a net loss of $34 million in 2023.

Adjusted for one-time losses, the company actually had a net income of $9.4 million, up from a loss of $19.6 million in 2023.

“Our focus remains on increasing client outreach, investing in experienced talent and raising the production levels of our existing salesforce. Strategic acquisitions and an ongoing focus on technology and further adoption of A.I. are also key priorities in our quest to maximize long-term shareholder value,” Nadji said.