PUBLISHER: The Business Research Company | PRODUCT CODE: 1680375
PUBLISHER: The Business Research Company | PRODUCT CODE: 1680375
A real estate agency functions as a business that offers services related to the sale, rental, and management of residential and commercial properties to its clientele. Brokerage, on the other hand, refers to a real estate activity that concentrates on aiding buyers and/or sellers in the acquisition of property, typically earning a commission for the provided services.
Within the realm of real estate agencies and brokerages, the primary types include brokers specializing in residential buildings and dwellings, non-residential buildings, mini-warehouses and self-storage units, and other categories. A real estate broker, holding a valid real estate dealer license, is an individual who has undergone additional education and met the requirements for obtaining a local real estate broker license. Various modes of operation, including online and offline, are employed, encompassing diverse property types such as fully furnished, semi-furnished, and unfurnished.
The real estate agency and brokerage services market research report is one of a series of new reports from The Business Research Company that provides real estate agency and brokerage services market statistics, including real estate agency and brokerage services industry global market size, regional shares, competitors with a real estate agency and brokerage services market share, detailed real estate agency and brokerage services market segments, market trends and opportunities, and any further data you may need to thrive in the real estate agency and brokerage services industry. This real estate agency and brokerage services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the 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.
Economic growth and a rapidly increasing urban population are expected to drive demand for real estate agency and brokerage services during the forecast period. The rising number of rural residents migrating to cities is creating a greater need for affordable housing and commercial spaces. This presents significant opportunities for real estate service providers to enhance housing, retail, and other commercial services. Globally, approximately 60% of urban settlements are yet to be built. For example, in April 2023, the World Bank, a US-based international financial institution, reported that around 4.4 billion people, or 56% of the world's population, currently live in cities. By 2050, it is projected that about 7 out of 10 people will reside in urban areas, with the urban population expected to more than double from its current level. This rapid urbanization is likely to boost the demand for real estate agencies and brokers, driving growth in the real estate agency and brokerage market going forward.
The increasing prevalence of commercial buildings is anticipated to drive the growth of the real estate agency and brokerage market in the foreseeable future. Commercial buildings, also recognized as commercial real estate, encompass properties designed to yield profit through capital gains or rental income. Real estate agencies and brokerages play a vital role as partners for individuals and businesses engaging in commercial real estate transactions, offering assistance in navigating the complexities of buying, selling, leasing, and managing commercial buildings. For instance, projections from the Center for Sustainable Systems indicate that by 2050, commercial building floor space is expected to reach 124.6 billion square feet, reflecting a 35% increase from 2021. Thus, the ascent of commercial buildings serves as a driving force for the real estate agency and brokerage market.
Real estate firms are increasingly embracing artificial intelligence (AI) applications to streamline diverse operations, including property search, building management, and design. AI plays a pivotal role in helping real estate companies identify individuals interested in buying or selling properties, match suitable properties based on customer preferences, and revamp office spaces according to user behavior. Research by Drooms reveals that approximately 54% of surveyed property professionals already leverage AI for enhanced keyword search, with 69% asserting that AI provides their companies with a competitive advantage by facilitating high-speed document searches. Examples include REX, which analyzes data from third-party sources such as Google to gauge a person's inclination to buy or sell a house, and WeWork, a startup utilizing AI for office space design. Skyline, an Israeli company, employs AI to recommend properties to investors by analyzing data from over 130 sources and considering more than 10,000 property attributes.
Major players in the real estate agencies and brokerage market are introducing technology-driven digital marketplaces to gain a competitive edge. BroBazaar's digital marketplace is tailored to offer value to brokers, builders, and developers by providing a seamless and efficient platform for connection and transactions. For instance, in August 2022, BroBazaar, an India-based platform serving real estate brokers and builders, launched the first tech-enabled digital marketplace for real estate brokers and builders. This initiative aims to simplify the process of buying, selling, and renting properties by bringing together various stakeholders in the real estate industry.
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 Imoveis, Portal 62imoveis.com, Urbanizadora Paranoazinho, Villagua Atividades Imobiliarias, Alfa Center Imoveis, URBS Lancamentos, 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.
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
The countries covered in the real estate agency and brokerage market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The real estate agency and brokerage services market consist of revenues earned by entities that act as agents and/or brokers for real estate activities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Real Estate Agency and Brokerage Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on real estate agency and brokerage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for real estate agency and brokerage ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The real estate agency and brokerage market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.