Historic Leadership Shift Reshapes 2026 Swanepoel Power 200
Historic Leadership Shift Reshapes 2026 Swanepoel Power 200 Five new leaders enter the top 10 as consolidation, platform strategy and listing control redefine real estate’s power structure
LADERA RANCH, Calif. — Jan. 14, 2026 — The 2026 Swanepoel Power 200 reveals the most significant leadership change in the top 10 of the highest rankings since the list was introduced in 2014, as a new generation of industry executives rises amid profound structural transformation in residential real estate. The Swanepoel Power 200 is the first of five sections released from the 2026 Real Estate Almanac by T3 Sixty.
For the first time in the history of the Swanepoel Power 200, five of the 10 most powerful leaders are new to the highest tier. The shift reflects a fundamental change in how quickly power can be acquired and exercised across an industry, when driven by consolidation, platform scale, capital strategy and rapid control over listings and data.
“For decades, power in this industry was closely tied to tenure and legacy,” said Jack Miller, president and CEO of T3 Sixty. “What the 2026 Swanepoel Power 200 clearly uncovers is that power and influence is now also secured through strategic clarity, operational execution and the ability to build platforms, the flow of capital and listings access.”
Robert Reffkin Retains No. 1 Ranking
For the second consecutive year, a relatively new industry leader Robert Reffkin, founder and CEO of Compass, is ranked as the most powerful leader in residential real estate.
Reffkin’s position reflects Compass’ scale, access to capital and outsized influence on industry structure and listings strategy. In 2025, he made a bold move by making an offer to acquire Anywhere Real Estate, the second-largest real estate enterprise in the world, expected to close later this year. This consolidates his position to lead the largest residential real estate enterprise in the world.
His second successive ranking as the No. 1 most powerful person in residential real estate underscores how sustained market influence, strategic conviction and platform scale now define leadership power at the highest level of the industry.
New Power Emerges as Legacy Leadership Transitions Reshape the Top 10
The 2026 rankings highlight a generational shift as new power centers rise alongside formal leadership transitions at some of the industry’s most influential institutions.
Five leaders make their debut in the top 10 of the Swanepoel Power 200, the most in the ranking’s history:
Jeremy Wacksman, CEO of Zillow Group, rises to second overall after his first full year leading the company, becoming Zillow’s most powerful leader following the transition from Co-Founder Rich Barton (No. 13 in 2026, but previously No. 1 in 2020 and 2021).
Varun Krishna, CEO of Rocket Companies, debuts in the top 10 following Rocket’s acquisition of Redfin, marking one of the clearest examples of mortgage capital-driven leadership ascension in the rankings. Redfin CEO Glenn Kelman ranks No. 18 in 2026, but has ranked as high as No. 5 in 2020.
Chris Kelly, CEO of HomeServices of America, enters the top 10 after succeeding Gino Blefari at Berkshire Hathaway’s brokerage operation. Two HomeServices of America CEOs in former years have ranked as the most powerful person in residential real estate, namely Blefari in 2023 and Ron Peltier in 2019.
Nykia Wright, the new CEO of the National Association of Realtors, consolidates her power and influence in her first full year as permanent CEO during a period of heightened policy, advocacy and structural change, and climbs from No. 34 last year.
Leo Pareja, CEO of eXp Realty, debuts in the top 10 after assuming leadership of the nation’s third-largest brokerage, becoming the most influential second-in-command in the company’s history alongside Founder Glenn Sanford (No. 4), who is also founder and CEO of eXp World Holdings.
Collectively, these moves reflect how consolidation, capital and platform scale are increasingly determining where power flows.
The 2026 Swanepoel Power 200 Top 10
No. 1 — Robert Reffkin, founder and CEO, Compass
No. 2 — Jeremy Wacksman, CEO, Zillow Group
No. 3 — Varun Krishna, CEO, Rocket Companies
No. 4 — Glenn Sanford, founder and CEO, eXp World Holdings
No. 5 — Ryan Schneider, president and CEO, Anywhere Real Estate
No. 6 — Andrew “Andy” Florance, founder and CEO, CoStar Group
No. 7 — Chris Kelly, president and CEO, HomeServices of America
No. 8 — Howard “Hoby” Hanna, CEO, Hanna Holdings
No. 9 — Nykia Wright, CEO, National Association of Realtors
No. 10 — Leo Pareja, CEO, eXp Realty
Just outside the top 10, Chris Czarnecki, the new president and CEO of Keller Williams Realty, debuts at No. 12 following the firm’s acquisition by Stone Point Capital, reflecting how institutional capital is reshaping leadership influence at some of the industry’s most established real estate franchises.
To view the full Swanepoel Power 200 rankings, visit www.realestatealmanac.com/executives.
Exclusive Listings Strategy Emerges as a Defining Power Lever
The industry-wide debate over exclusive listings strategies played a central role in reshaping power dynamics in the rankings and is expected to remain a defining issue into 2026 and beyond.
Leaders who took clear, public positions on listing access, transparency and policy saw measurable gains in influence, including Wacksman, Wright, Pareja and Errol Samuelson, chief industry development officer at Zillow Group (No. 37).
Control over listings, data access and consumer transparency has emerged as one of the most consequential levers of power in organized real estate, shaping competitive positioning and signaling where influence is likely to concentrate next.
Depth and Velocity of Change Across the Rankings
Beyond the top tier, the 2026 Swanepoel Power 200 reflects broad-based movement across the industry. Thirty-eight leaders make their debut on the list, including six within the top 100, while 40 leaders moved up 10 or more positions year over year.
About the Real Estate Almanac and the Swanepoel Power 200
The Swanepoel Power 200, created by Stefan Swanepoel in 2014, is the residential real estate industry’s only exhaustive ranking of the 200 most powerful and influential leaders shaping the future of residential real estate. It is the lead section of the annual 300-page Real Estate Almanac published by T3 Sixty.
In 2020, the Real Estate Almanac became the most comprehensive compendium, analyzing the residential real estate industry’s leaders and executives, brokerages, corporations, technology providers, Realtor associations and MLSs into one annual definitive report.
The Swanepoel Power 200 evaluates leadership influence across brokerage, technology, organized real estate and adjacent services. Rankings are determined by the T3 Sixty leadership team using an equal-weighted evaluation framework that assesses recent achievements and projected impact, organizational scale and authority, peer influence and relative standing within each industry segment.
About T3 Sixty
T3 Sixty is the leading management consultancy in the residential real estate industry, specializing in brokerage, technology and organized real estate. The group also delivers extensive research and reports, and executive search and event management services. For more information, visit t360.com.