Page 1

Marcus & Millichap MARCUS & MILLICHAP , INC . REPORTS RESULTS FOR THIRD QUARTER 2021 ALL - TIME RECORD QUARTERLY REVENUES , NET INCOME AND EARNINGS PER SHARE CALABASAS , Calif . , November 5 , 2021 -- ( BUSINESS WIRE ) -- Marcus & Millichap , Inc. ( the " Company " , " Marcus & Millichap " , " MMI " ) ( NYSE : MMI ) , a leading national brokerage firm specializing in commercial real estate investment sales , financing , research and advisory services , today reported record financial results for the third quarter and nine months ended September 30 , 2021 . Third Quarter 2021 Highlights Compared to Third Quarter 2020 Total revenues increased by 109.6 % to $ 332.4 million Net income increased to $ 33.9 million , or $ 0.84 per common share , diluted , compared to $ 6.0 million , or $ 0.15 per common share , diluted Adjusted EBITDA increased more than fourfold to $ 51.0 million compared to $ 12.2 million Brokerage commissions more than doubled to $ 299.8 million O ● ● Nine Months 2021 Highlights Compared to Nine Months 2020 Total revenues increased by 71.7 % to $ 801.3 million Net income increased to $ 80.5 million , or $ 2.00 per common share , diluted , compared to $ 19.2 million , or $ 0.48 per common share , diluted Adjusted EBITDA increased more than threefold to $ 124.8 million compared to $ 38.8 million Brokerage commissions increased by 72.0 % to $ 715.5 million O Private Client brokerage revenue increased by 57.8 % to $ 446.6 million Middle Market and Larger Transaction brokerage revenue more than doubled to $ 247.7 million Financing fees increased by 72.8 % to $ 75.4 million ● ● Private Client brokerage revenue grew 87.0 % to $ 183.0 million O Middle Market and Larger Transaction brokerage revenue increased nearly threefold to $ 109.3 million Financing fees nearly doubled to $ 29.4 million " This was our second consecutive milestone quarter by almost every measure . Our business is performing exceptionally well with all product lines registering solid growth throughout the year . As expected , our results are substantially higher than last year's disrupted market . Even more relevant , compared to the same period in 2019 , our year - to - date revenues and Adjusted EBITDA were up 40.9 % and 50.3 % , respectively . This is a direct reflection of our sales force's ability to shift from helping clients solve problems and navigate the uncertainty of last year to maximizing opportunities amid this year's market recovery . Our expanded client outreach , steady stream of technology enhancements and recent acquisitions all contributed to a record quarter , " commented Hessam Nadji , Marcus & Millichap's President and CEO . Mr. Nadji continued , " The operating environment remains compelling with still low interest rates , ample liquidity and increasing confidence in the recovery . We are further building on our recent strategic acquisitions and ongoing investments in the Company's brokerage systems , training and development , all of which are supported by our strong balance sheet and leading market position . For example , our recent strategic alliance with M & T Realty Capital Corporation positions us to expand agency financing for our multi - family clients while improving tools and resources for our originators . We believe this will allow us to grow our Fannie Mae and Freddie Mac market share in the coming years . We continue to work every day to enhance our client services and create shareholder value by building upon a solid foundation to achieve growth and durability . " Page 1