Company: MMI
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050707
Chunk: 65

Company: Marcus & Millichap, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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)$8,358 $8,527 $23,033 $21,357 

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,Financing (1)2025202420252024Average Number of Financing Professionals101 103 101 101 Average Number of Transactions per Financing Professional4.02 3.09 11.41 8.16 Average Fee per Transaction$50,246 $50,351 $49,176 $49,725 Average Fee Rate0.71 %0.75 %0.69 %0.73 %Average Transaction Size (in thousands)$7,065 $6,712 $7,108 $6,818 Total Number of Transactions406 318 1,152 824 Total Financing Volume (in millions)$2,868 $2,134 $8,188 $5,618 

(1)Operating metrics exclude certain financing fees not directly associated with transactions. 

37

Comparison of Three Months Ended September 30, 2025 and 2024 

Below are key operating results for the three months ended September 30, 2025 compared to the three months ended September 30, 2024 (dollars in thousands): 

Three Months Ended September 30, 2025PercentageofRevenue Three Months Ended September 30, 2024PercentageofRevenue Change Dollar Percentage Revenue:Real estate brokerage commissions$162,166 83.6 %$141,970 84.2 %$20,196 14.2 %Financing fees26,292 13.6 20,582 12.2 5,710 27.7 %Other revenue5,434 2.8 5,959 3.6 (525)(8.8)%Total revenue193,892 100 168,511 100 25,381 15.1 %Operating expenses:Cost of services120,996 62.4 104,754 62.2 16,242 15.5 %Selling, general and administrative72,527 37.4 70,672 41.9 1,855 2.6 %Depreciation and amortization2,743 1.4 4,550 2.7 (1,807)(39.7)%Total operating expenses196,266 101.2