Press release
Real Estate Agency and Brokerage Market Size Forecasted To Achieve $1993.55 Billion By 2029 With Steady Growth
Real Estate Agency and Brokerage
What Is the Current Real Estate Agency and Brokerage Market Size and Its Estimated Growth Rate?
The size of the real estate agency and brokerage market has observed robust growth in past few years. The market, which is poised to expand from $1450.24 billion in 2024 to $1551.03 billion in 2025, is expected to register a compound annual growth rate (CAGR) of 6.9%. The historic period of growth can be credited to compelling economic ascendancy in the emerging markets, an increase in disposable incomes and several government schemes.
Expectations for the real estate agency and brokerage market envision robust growth in the forthcoming years. The market is projected to swell to $1993.55 billion by 2029, with a compound annual growth rate (CAGR) of 6.5%. This anticipated growth over the forecast period can be attributed to factors such as heightened investment in infrastructure, population growth, and escalating urbanization. Key trends for the forecast period incorporate emphasis on metaverse applications in real estate agency and brokerage, implementation of augmented reality and virtual reality, adoption of artificial intelligence, the advent of consumer-centric websites, mobile platforms for real estate agency and brokerage, concentration on innovative solutions, and strategic alliances and collaborations.
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How Are Emerging Segments Shaping the Real Estate Agency and Brokerage Market Landscape?
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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Which Growth Factors Are Influencing Real Estate Agency and Brokerage Market Expansion?
Real estate agency and brokerage are forecasted to experience increased demand due to expanding urban population and economic growth. The movement of individuals from rural areas to cities is fueling this demand, as the need for affordable housing and commercial spaces grows. This shift presents a major opportunity for real estate service providers to enhance housing, retail, and other commercial offerings. At the moment, approximately 60% of urban developments worldwide are yet to be constructed. Data released by the US-based World Bank in April 2023 indicated that around 4.4 billion people or 56% of the global population live in cities currently. By 2050, it is estimated that the urban population will more than double, with 7 out of 10 people residing in cities. This swift urbanization process is predicted to stimulate more demand for real estate agencies and brokers, further propelling the growth of the real estate agency and brokerage market.
Who Are the Dominant Players Across Different Real Estate Agency and Brokerage Market Segments?
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.
What Trends Are Driving Growth in The Real Estate Agency and Brokerage Market?
Many real estate firms are turning to artificial intelligence (AI) applications for functions such as property searching, building management, and design. AI facilitates real estate firms in identifying potential buyers or sellers, sourcing properties that meet customer needs, and adjusting office layouts in response to user behavior. Drooms' study disclosed that 54% of surveyed property professionals already utilize AI to enhance keyword searches, and 69% believe AI empowers their firms to rapidly search documents, thus giving them an edge over their rivals. Case in point, REX, a real estate business, uses data from third parties like Google to assess a person's readiness to buy or sell a home. WeWork, a shared workspace provider, is utilizing AI to design its offerings. Skyline, an AI platform from an Israeli firm, suggests properties to real estate investors using data from over 130 sources and considering over 10,000 varied attributes of a property's lifecycle.
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Which Geographic Regions Are Expected to Dominate the Real Estate Agency and Brokerage Market in the Coming Years?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Real Estate Agency and Brokerage Market?
2. What is the CAGR expected in the Real Estate Agency and Brokerage Market?
3. What Are the Key Innovations Transforming the Real Estate Agency and Brokerage Industry?
4. Which Region Is Leading the Real Estate Agency and Brokerage Market?
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