The global real estate brokerage market is expected to be valued at US$ 792 billion in 2023. It is projected that the market will rise with a CAGR of 5.6% during the forecast period of 2023 to 2033.
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The growth of the real estate brokerage market has a direct relation with the expansion of the real estate industry. Owing to this factor, the increase in real estate construction is fuelling the demand for brokers and agents worldwide. Brokers play an essential role in searching for properties and navigating clients in the efficient buying or selling of properties as per their requirements. Government support through schemes regarding home ownership and an increase in disposable income of the population are also driving the demand for real estate and brokers or agents.
Additionally, the transformation of broking services from the traditional approach to new ones, such as the utility of applications, websites, and software, has created a lucrative opportunity for market growth. New technologies are efficiently enhancing client interaction with brokers and driving market expansion.
Key Takeaways from Market Study
- Among the service provider types, organizations hold a leading share of 77% in the global market.
- From 2023 to 2033, the real estate brokerage is set to expand at a CAGR of 5.6%
- Among the regions, North America exhibits a leading share of 41% in the global market.
- The market for real estate brokerage registered a growth rate of 4.8% during the historic period 2018-2022.
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Key Companies Profiled
- CBRE Group
- Century 21
- Colliers International
- Compass
- Cushman Wakefield, Inc.
- Eastdil Secured
- ERA Real Estate
- eXp Realty
- Home Services of America
- IQI Global
- Jones Lang LaSalle Inc
- Keller Williams Realty, Inc.
- Newmark Grubb Knight Frank
- RE/MAX
- Realogy Holdings Corp.
Market Development
The real estate brokerage market is highly competitive with the presence of various international and domestic market players in the industry. Market players are relying on the integration of advanced technologies such as artificial intelligence and others to enhance client engagement and increase their consumer base. Acquisitions and mergers to expand service offerings in various domestic and international marketplaces is another move being implemented by market players in the industry.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global real estate brokerage market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of mode of service (online, offline), property type (residential, commercial), and service provider (individuals, organizations), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
