Marcus & Millichap, Inc. (NYSE: MMI), a leading national real estate services firm, reported a narrower net loss for the third quarter of 2024 as higher revenue was partially offset by ongoing market challenges stemming from elevated interest rates and economic uncertainty.

The company's total revenue for the three months ended September 30, 2024, rose 4.0% year-over-year to $168.5 million, beating analyst estimates of $160.9 million. This growth was primarily driven by a 1.5% increase in real estate brokerage commissions to $142.0 million and a 19.3% surge in financing fees to $20.6 million.

Net loss for the quarter narrowed to $5.4 million, or $0.14 per diluted share, compared to a net loss of $9.2 million, or $0.24 per share, in the same period last year. The company's results surpassed analysts' expectations of a $0.19 per share loss.