Urbanization Boom Fueling Demand For Real Estate Agency And Brokerage: Core Growth Enabler in the Real Estate Agency and Brokerage Market, 2025

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What Will the Real Estate Agency and Brokerage Industry Market Size Be by 2025?
Over the past few years, the market size of the real estate agency and brokerage industry has shown steady expansion. The market is projected to escalate from $1455.59 billion in 2024 to $1539.26 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. The previous growth during the historic period had been driven by robust economic expansions in developing markets, an increase in disposable income, and governmental interventions.

What's the Long-Term Growth Forecast for the Real Estate Agency and Brokerage Market Size Through 2029?
In the coming years, the real estate agency and brokerage market is anticipated to witness robust expansion. The market is projected to surge to $1980.4 billion by 2029, with a compound annual growth rate (CAGR) of 6.5%. This growth during the forecast period can be attributed to factors such as increased infrastructure investment, a growing populace, and accelerating urbanization. The major trends expected during the forecast period encompass concentration on the metaverse in real estate agency and brokerage, application of augmented reality and virtual reality, deployment of artificial intelligence, inception of consumer-centric websites, mobile platforms for real estate agency and brokerage, emphasis on inventive solutions, and strategic partnership and collaboration initiatives.

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What Are the Key Growth Drivers Fueling the Real Estate Agency and Brokerage Market Expansion?
The forecast period is expected to see a rise in the demand for real estate agency and brokerage services, triggered by economic expansion and a quickly growing urban populace. The mounting amount of country folks relocating to cities is causing an escalation in the requirement for affordable housing and commercial areas. This situation presents a considerable chance for those providing real estate services to enhance their offerings in residential, retail, and other commercial sectors. Around the globe, roughly 60% of urban developments still need to be built. As per the World Bank's data, published in April 2023, approximately 4.4 billion people, equivalent to 56% of the global population, currently inhabit cities. By 2050, the prediction is that roughly 7 in every 10 individuals will be city dwellers, with the urban populace anticipated to more than double from the present. This swift urbanization is set to propel the demand for real estate agencies and brokers, thereby driving the progression of the real estate agency and brokerage market.

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What Are the Key Trends Driving Real Estate Agency and Brokerage Market Growth?
Artificial intelligence is being increasingly used by real estate companies to streamline various operations including property search, design, and management. AI is proving instrumental in locating potential buyers or sellers for properties, tailoring property suggestions according to customers' needs, and remodeling office spaces based on occupants' behaviors. Drooms' research reveals that around 54% of surveyed property professionals are already deploying AI to boost their keyword search, with 69% believing it offers them a competitive edge by allowing high-speed document searches. For instance, REX, a real estate firm, uses third-party data, like Google, to assess an individual's readiness to buy or sell a house. Additionally, WeWork, a shared workspace-provider startup, utilizes AI to plan its office spaces. Skyline, an Israeli firm's AI platform, suggests properties to investors by utilizing data from over 130 sources and considering more than 10,000 distinct property attributes.

How Is the Real Estate Agency and Brokerage Market Segmented?
The real estate agency and brokeragemarket 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 Companies Are Leading the Charge in Real Estate Agency and Brokerage Market Innovation?
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.

Which Regions Are Leading the Global Real Estate Agency and Brokerage Market in Revenue?
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

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