As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the consumer discretionary - real estate services industry, including RE/MAX (NYSE: RMAX) and its peers.

The Consumer Discretionary sector, by definition, is made up of companies selling non-essential goods and services. When economic conditions deteriorate or tastes shift, consumers can easily cut back or eliminate these purchases. For long-term investors with five-year holding periods, this creates a structural challenge: the sector is inherently hit-driven, with low switching costs and fickle customers. As a result, only a handful of companies can reliably grow demand and compound earnings over long periods, which is why our bar is high and High Quality ratings are rare. Real estate services companies provide brokerage, property management, appraisal, and advisory services, earning transaction-based commissions and recurring management fees. Tailwinds include long-term housing demand driven by demographic growth, technology platforms that expand market access, and commercial real estate complexity that sustains advisory needs. Headwinds are pronounced: rising interest rates directly suppress transaction volumes by reducing housing affordability and commercial deal activity. Commission-rate compression, driven by discount brokerages and regulatory changes, erodes per-transaction revenue. The industry is highly cyclical, with revenue swings amplified by leverage. PropTech (property technology) disruptors threaten traditional intermediary models.

The 14 consumer discretionary - real estate services stocks we track reported a satisfactory Q4. As a group, revenues beat analysts’ consensus estimates by 4% while next quarter’s revenue guidance was 2.2% below.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

RE/MAX (NYSE: RMAX)

Short for Real Estate Maximums, RE/MAX (NYSE: RMAX) operates a real estate franchise network spanning over 100 countries and territories.

RE/MAX reported revenues of $71.14 million, down 1.8% year on year. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with EBITDA guidance for next quarter missing analysts’ expectations  and a miss of analysts’ adjusted operating income estimates.

"Our strategy is working and is beginning to yield results even though 2025 marked the third consecutive year of a historically tough housing market in the United States and Canada. We exited 2025 with strong momentum across both of our networks, driven by record global agent count growth, our best fourth quarter U.S. agent performance since 2021, and a renewed excitement for the REMAX brand given enhancements to our overall value proposition. In January we also saw the largest conversion in our history as nearly 1,200 agents led by visionary entrepreneurs chose to join our market-leading brand in Canada, an exciting start to the year," said Erik Carlson, Chief Executive Officer.

Interestingly, the stock is up 18.7% since reporting and currently trades at $8.20.

Read our full report on RE/MAX here, it’s free.

Best Q4: The Real Brokerage (NASDAQ: REAX)

Founded in Toronto, Canada in 2014, The Real Brokerage (NASDAQ: REAX) is a technology-driven real estate brokerage firm combining a tech-centric model with an agent-centric philosophy.

The Real Brokerage reported revenues of $505.1 million, up 44.1% year on year, outperforming analysts’ expectations by 7.6%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

The Real Brokerage scored the fastest revenue growth among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 4.7% since reporting. It currently trades at $2.61.

Is now the time to buy The Real Brokerage? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Offerpad (NYSE: OPAD)

Known for giving homeowners cash offers within 24 hours, Offerpad (NYSE: OPAD) operates a tech-enabled platform specializing in direct home buying and selling solutions.

Offerpad reported revenues of $114.1 million, down 34.5% year on year, falling short of analysts’ expectations by 2%. It was a disappointing quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and a significant miss of analysts’ adjusted operating income estimates.

Offerpad delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 1.6% since the results and currently trades at $0.82.

Read our full analysis of Offerpad’s results here.

Newmark (NASDAQ: NMRK)

Founded in 1929, Newmark (NASDAQ: NMRK) provides commercial real estate services, including leasing advisory, global corporate services, investment sales and capital markets, property and facilities management, valuation and advisory, and consulting.

Newmark reported revenues of $1.01 billion, up 15.3% year on year. This print met analysts’ expectations. Zooming out, it was a satisfactory quarter as it also recorded full-year revenue guidance exceeding analysts’ expectations but a significant miss of analysts’ adjusted operating income estimates.

Newmark pulled off the highest full-year guidance raise among its peers. The stock is up 8.9% since reporting and currently trades at $16.03.

Read our full, actionable report on Newmark here, it’s free.

Cushman & Wakefield (NYSE: CWK)

With expertise in the commercial real estate sector, Cushman & Wakefield (NYSE: CWK) is a global Chicago-based real estate firm offering a comprehensive range of services to clients.

Cushman & Wakefield reported revenues of $2.91 billion, up 10.8% year on year. This number beat analysts’ expectations by 6.1%. More broadly, it was a mixed quarter as it also produced an impressive beat of analysts’ revenue estimates but a miss of analysts’ adjusted operating income estimates.

The stock is up 5.8% since reporting and currently trades at $14.35.

Read our full, actionable report on Cushman & Wakefield here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.