Global Real Estate Agency and Brokerage Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. A real estate agency is a business that offers clients real estate services. These services involve listing homes for sale or rent, locating potential purchasers or tenants, and establishing legal agreements. Professionals with real estate agent licenses are employed by real estate firms. A real estate brokerage is a business that issues licenses to real estate agents and offers them assistance. These services generally encompass marketing, administrative assistance, and training. Real estate brokerages can be standalone businesses or part of a larger organization. Increasing disposable income, a growing population, coupled with increasing government support are the most prominent factors that are contributing to the market growth across the globe.
In addition, rapid urbanization is acting as a catalyzing factor for market growth worldwide. The world is becoming increasingly urbanized, which also drives the demand for real estate. As people move to cities, they are looking for housing, and this is creating new opportunities for real estate agents and brokerages. According to the World Bank, in 2020, it was estimated that approximately 55% of the population, which is around 4.2 billion inhabitants lives in urban areas. Moreover, it is projected that the urban population is expected to constantly increase by 1.5 times and is likely to reach around 6 million by 2045. Thus, these aforementioned factors are propelling the growth of the Real Estate Agency and Brokerage Market during the estimated period. Moreover, the technological innovation in the real estate brokerage industry, as well as the increasing real estate investment present various lucrative opportunities over the forecast years. However, the stringent regulations and legal complexities are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Real Estate Agency and Brokerage Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing integration of advanced technologies with online platforms, an increase in immigration in the region, and growing disposable income. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The presence of favorable government initiatives, rapid urbanization, rise in population, and increasing focus of people on rental houses are significantly propelling the market demand across the region.
Major market players included in this report are:
Realogy Holdings Corp.
Mitsui Fudosan Co. Ltd.
Berkshire Hathaway Inc.
Jones Lang LaSalle Inc.
Recent Developments in the Market:
Ø In August 2022, BroBazaar, a tech platform for real estate brokers and builders, launched a digital marketplace with the goal of facilitating the listing and discovery of homes through matchmakings supported by artificial intelligence.
Ø In October 2021, Coldwell Banker Real Estate LLC, a top New Jersey real estate firm announced the acquisition of the Real Estate Brand Warburg Realty in Manhattan with the aim of establishing Coldwell Banker Warburg. With this initiative, the company emphasises extending its service offerings in luxury real estate while also increasing its presence in the US market.
Global Real Estate Agency and Brokerage Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Mode, Property Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Residential Buildings and Dwellings Brokers
Non-Residential Buildings Brokers
Mini warehouses and Self-Storage Units Brokers
By Property Type:
Middle East & Africa
Rest of Middle East & Africa