The global real estate agency brokerage market in terms of revenue was estimated to be worth USD XX billion in 2022 and is poised to grow at a CAGR of 5.6% from 2023 to 2030.
A real estate agency brokerage is a firm or company that serves as an intermediary between buyers and sellers in real estate transactions. They facilitate the buying, selling, or leasing of properties and earn a commission for their services. Brokers employed by the brokerage represent clients, providing expertise, negotiation assistance, and market knowledge to help them achieve their real estate goals.
Based on the mode of service, the online segment is expected to be the fastest growing over the forecast period as due to increasing digitalization, the convenience it offers to clients in property search and transactions, and the ability to reach a broader audience beyond local markets.
Based on region, North America is expected to hold a significant share of the global real estate agency brokerage market due to its well-established real estate industry, high urbanization rates, strong economic growth, and the presence of major cities driving demand for brokerage services. Additionally, North America's adoption of advanced technologies and online platforms further contributes to its dominant position in the market.
Real Estate Agency Brokerage Market Dynamics
Drivers: Increasing Demand for Real Estate
As population and urbanization continue to grow, there is a constant demand for housing and commercial properties, leading to a steady need for brokerage services.
Restraints: Increasing Demand for Real Estate
As population and urbanization continue to grow, there is a constant demand for housing and commercial properties, leading to a steady need for brokerage services.
Opportunities: Technological Advancements
Embracing technology, such as online listings, virtual property tours, and AI-powered analytics, can enhance brokerage efficiency and reach a broader audience.
Challenges: Increased Competition
The real estate industry is highly competitive, with many new and established brokerages vying for clients and market share.
Real Estate Agency Brokerage Market Ecosystem
Prominent companies in this market include well-established manufacturers and service providers of Real Estate Agency Brokerage market. These companies have been operating in the market for several years and possess a diversified product portfolio, organic & inorganic strategies, strong global sales and marketing networks. Prominent companies in this market include CBRE Group, Century 21, Colliers International, Compass, Cushman Wakefield Inc., Eastdil Secured, ERA Real Estate, eXp Realty, Home Services of America, and IQI Global.
Real Estate Agency Brokerage Market Report Scope:
Report Metric Details
Market size available for years 2019?2030
Base year considered 2022
Forecast period 2023?2030
Forecast units Million/Billion (USD)
Segments covered Mode of Service, Property Type, Service Provider, and Region
Geographies covered North America, Europe, Asia Pacific, and Rest of the World
Companies covered CBRE Group, Century 21, Colliers International, Compass, Cushman Wakefield Inc., Eastdil Secured, ERA Real Estate, eXp Realty, Home Services of America, and IQI Global
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