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About Marcus & Millichap
From its filings with the US Securities and Exchange Commission
Marcus & Millichap is based in Calabasas, California. Its shares trade on NYSE under the ticker MMI. The SEC classifies its business as real estate agents & managers (for others). In the fiscal year to 31 December 2025, it reported revenue of $755.2m and a net loss of $1.9m. At that date it held total assets of $827.2m and shareholders' equity of $603.1m. By business, Real estate brokerage commissions brought in 83.8% of revenue, followed by Financing fees at 13.8% and Other revenue at 2.5%.
Marcus & Millichap, Inc. (“MMI”) is a leading national real estate services firm specializing in commercial real estate investment sales, financing services, research and advisory services. We are the leading national investment brokerage company in the $1 million to $10 million private client market. This is the largest and most active market and consistently comprises more than 80% of total U.S. commercial property transactions greater than $1 million in the marketplace. As of December 31, 2025, we had 1,808 investment sales and financing professionals who are primarily commission-based independent contractors who provide real estate investment brokerage and financing services to sellers and buyers of commercial real estate in over 80 offices in the United States and Canada. In 2025, we closed 8,818 sales, financing, and other transactions with total sales volume of approximately $50.8 billion.
Marcus & Millichap, Inc was formed in June 2013 in preparation for the spin-off of Marcus & Millichap Real Estate Investment Services, Inc. (“MMREIS”), which was founded in 1971. MMREIS was the real estate investment services business of the Marcus & Millichap Company (“MMC”). Our initial public offering ("IPO") was completed in November 2013. In connection with our IPO, the shareholders of MMREIS contributed their shares of MMREIS to MMI in exchange for common stock of MMI.
Quoted from its 10-K, filed 26 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Real Estate
- Industry
- Real Estate Management & Development
- Listed since
- 31 Oct 2013
- Employees
- 854
- Website
- marcusmillichap.com ↗
- Head office
- 23975 PARK SORRENTO, CALABASAS, CA, 91302
- Classification
- Real Estate Agents & Managers (For Others)
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. George MarcusChairman of the Board, Founder, since 1971$139,986
- Mr. Hessam NadjiPresident, Chief Executive Officer, Director, since 2013$4.6m
- Mr. Steven DegennaroChief Financial Officer, Executive Vice President$1.4m
- Mr. John ParkerExecutive Vice President, Chief Operating Officer$1.7m
- Mr. Gregory LaBergeSenior Vice President, Chief Client Officer$855,447
- Mr. Andrew LeahySenior Vice President, National Director of Multifamily
- Mr. Richard MatricariaSenior Vice President, Chief Growth Officer$1.4m
- Mr. Don WattersLead Non-Executive Independent Director$164,986
- Ms. Collete DixonNon-Executive Independent Director$144,986
- Ms. Norma LawrenceNon-Executive Independent Director$164,986
- Ms. Lauralee MartinNon-Executive Independent Director$159,986
- Mr. Nicholas McclanahanNon-Executive Independent Director$154,986
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 42
- Environment
- 28
- Social
- 56
- Governance
- 41
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Marcus & Millichap Inc. possesses several strengths that contribute to its success in the real estate industry. These strengths include:
- With over 50 years of experience, Marcus & Millichap Inc. has built a strong market presence and established itself as a reputable player in the real estate sector. This reputation gives the company a competitive advantage in attracting clients and closing deals.
- The company's team of professionals possesses deep expertise and specialization in various property types and markets. This allows Marcus & Millichap Inc. to provide valuable insights and tailored solutions to its clients, increasing customer satisfaction and loyalty.
- Marcus & Millichap Inc. has an extensive network of buyers, sellers, and industry professionals. This network enables the company to connect clients with potential partners, expand its market reach, and facilitate successful transactions.
- The company has invested in innovative technology solutions to improve the efficiency of its operations and enhance client experiences. This includes advanced analytics tools, user-friendly platforms, and data-driven insights, positioning Marcus & Millichap Inc. at the forefront of the industry.
Weaknesses
- While Marcus & Millichap Inc. has numerous strengths, it also faces certain weaknesses that it should address to maintain its competitive position:
- The company's performance is heavily influenced by economic conditions, such as fluctuations in interest rates and GDP growth. In times of economic downturns, demand for real estate services may decrease, impacting Marcus & Millichap Inc.'s revenue and profitability.
- Marcus & Millichap Inc. operates primarily in specific regions, which results in geographical concentration. This concentration exposes the company to risks associated with local economic factors or regulatory changes that could have a negative impact on its business.
- The real estate industry is highly competitive, with a large number of firms offering similar services. Marcus & Millichap Inc. faces competition from both established companies and emerging players, which may put pressure on its market share and pricing.
Opportunities
- Despite challenges, Marcus & Millichap Inc. can leverage several opportunities to further grow and expand its business:
- The increasing demand for real estate, driven by factors such as population growth and urbanization, presents significant opportunities for Marcus & Millichap Inc. to capitalize on emerging markets and expand its client base.
- The ongoing digital transformation in the real estate industry opens doors for Marcus & Millichap Inc. to leverage technology advancements and offer innovative online services. Embracing digital platforms and tools can help the company reach a wider audience and streamline its operations.
- Marcus & Millichap Inc. can explore opportunities for international expansion to diversify its geographic presence and tap into growing global markets. Expanding into new regions can broaden the company's client base and drive revenue growth.
Threats
- Marcus & Millichap Inc. faces certain threats that could potentially hinder its growth and profitability:
- The real estate industry is vulnerable to economic volatility, including recessions, market fluctuations, and changes in fiscal policies. Such economic uncertainties can negatively impact the demand for real estate services, affecting Marcus & Millichap Inc.'s financial performance.
- Changes in regulations, zoning laws, and compliance requirements can pose challenges for Marcus & Millichap Inc. The company must stay updated and adapt its strategies to ensure compliance and maintain a favorable business environment.
- The emergence of new technologies, such as blockchain and artificial intelligence, could disrupt traditional real estate practices. Marcus & Millichap Inc. needs to stay agile and embrace technological advancements to remain competitive and relevant in a rapidly evolving industry.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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