The Business Research Company’s report on the Real Estate Agency and Brokerage Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the real estate agency and brokerage market further?
Economic growth and a rapidly growing urban population are expected to increase the demand for real estate agency and brokerage, during the forecast period. The increasing number of rural residents migrating into cities is resulting in an increasing demand for access to affordable housing and commercial spaces. This provides a significant opportunity for real estate service providers to improve housing, retail, and other commercial services. Globally, around 60% of urban settlements remained to be built. For instance, in April 2023, according to the data published by the World Bank, a US-based international financial institution, around 4.4 billion people, or 56% of the world’s population, presently reside in cities. By 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to more than double from its current level. This rapid urbanization is expected to boost the demand for real estate agencies and brokers and drive the real estate agency and brokerage market going forward.
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What are the key factors influencing the forecasted market size of the real estate agency and brokerage industry?
The real estate agency and brokerage market size has grown strongly in recent years. It will grow from $1450.24 billion in 2024 to $1551.03 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, a rise in disposable income and government initiatives.
The real estate agency and brokerage market size is expected to see strong growth in the next few years. It will grow to $1993.55 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing investment in infrastructure, a rising population, and increasing urbanization. Major trends in the forecast period include focus on metaverse in real estate agency and brokerage, use of augmented reality and virtual reality, use of artificial intelligence, launch of consumer-facing websites, mobile platforms for real estate agency and brokerage, focus on innovative solutions and strategic partnerships and collaborations.
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Who are the leading competitors in the real estate agency and brokerage market?
Major companies operating in the real estate agency and brokerage market include Anywhere Real Estate Inc., Mitsui Fudosan Co., Ltd., Berkshire Hathaway Inc., CBRE Group, FirstService Corporation, Jones Lang LaSalle Inc., Sekisui House, Savills plc, Cushman & Wakefield Inc., Colliers International, New World Development Co, Wheelock and Company Ltd, Henderson Land Development Company Ltd, Guangzhou R&F Properties Co. Ltd., Sino-Ocean Group Holding Limited, Agile Property, China Merchants Property, Evergrande Group, Knight Frank, Tokyo Century Leasing, Intu Group, H&H Group, Berkeley Group, Wheatley Housing Group, Praedium ONCOR International, PPF Real Estate Holding, WOOD & Company, Red Feniks, Awaye Realty, MIR Kvartir, Gorodskoy Rieltorskiy Centr, Atalanta, Coldwell Banker Realty, Keller Williams Realty, HomeServices of America, Sotheby’s International Realty, Compass Realty Solutions, Triplemint Real Estate LLC, Macdonald Realty, Lennard Commercial Realty, Brokerage, RBC Capital Markets Real Estate Group, Sergio Castro Imóveis, Portal 62imoveis.com, Urbanizadora Paranoazinho, Villagua Atividades Imobiliarias, Alfa Center Imóveis, URBS Lançamentos, Taiana Propiedades, JB SRUR, D’Aria Propiedades, Binayah Real Estate Dubai, FAM Properties, Better Homes, D&B Real Estate Dubai, Haus & Haus, Driven Properties, Tanami Properties Dubai, Allsopp & Allsopp, Steigen Real Estate, Rebosa, Real Dots Properties, TITAN Property Group, RE/MAX, Precision Realty Brokerage.
Which emerging trends are set to transform the real estate agency and brokerage market landscape?
Real estate companies are investing in artificial intelligence applications to perform various functions such as property search, building management, and design. Artificial intelligence is helping real estate companies to find people looking to buy or sell properties, find a suitable property based on customer requirements, and redesign office spaces based on user behavior. According to the research conducted by Drooms, AI technology providers around 54% of property professionals surveyed already use artificial intelligence to improve keyword search and 69% believe AI gives their companies a competitive advantage by enabling the high-speed search of documents. For instance, REX, a real estate company analyses data from third parties such as Google to determine the willingness of a person to buy or sell a house. WeWork, a startup that provides shared workspaces is using artificial intelligence to design its office spaces. Skyline, an Israeli company’s artificial intelligence platform recommends properties to real estate investors by using data from more than 130 sources and taking into account over 10,000 different attributes of properties’ lives.
How do different geographies compare in terms of market share and growth potential in the real estate agency and brokerage market?
Asia-Pacific was the largest region in the real estate agency and brokerage market in 2024. North America was the second-largest region in the real estate agency and brokerage market. The regions covered in the real estate agency and brokerage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Which major segments of the real estate agency and brokerage market are experiencing the fastest growth?
The real estate agency and brokerage market covered in this report is segmented –
1) By Type: Residential Buildings And Dwellings Brokers, Non-Residential Buildings Brokers, Mini warehouses And Self-Storage Units Brokers, Other Brokers
2) By Mode: Online, Offline
3) By Property Type: Fully Furnished, Semi-Furnished, Unfurnished
Subsegments:
1) By Residential Buildings And Dwellings Brokers: Single-Family Homes, Multi-Family Homes, Condominiums, Townhouses
2) By Non-Residential Buildings Brokers: Office Buildings, Retail Spaces, Industrial Properties, Hospitality Properties
3) By Mini Warehouses And Self-Storage Units Brokers: Personal Storage Units, Business Storage Solutions
4) By Other Brokers: Land Brokers, Agricultural Brokers, Specialty Property Brokers
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How is the real estate agency and brokerage market defined?
A real estate agency is a business that sells, rents, and manages homes and commercial properties as a service to its clients. Brokerage refers to a real estate activity focused on assisting buyers and/or sellers in purchasing property against the commission for the service provided.
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