Rockville, Dec. 22 2022 (GLOBE NEWSWIRE) — The global real estate brokerage market is expected to be valued at US$792 billion in 2023. The market is forecast to grow with a CAGR of 5.6% during the forecast period from 2023 to 2033.
the real estate brokerage market growth has a direct relationship with the expansion of the real estate industry. Due to this factor, the increase in real estate construction is fueling the demand for brokers and agents worldwide. Brokers play a vital role in finding properties and navigating clients to effectively buy or sell properties as needed. Government support through home ownership programs and an increase in people’s disposable income are also driving demand for real estate and brokers or agents.
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Moreover, the transformation of brokerage services from the traditional approach to new ones such as the utility of apps, websites, and software has created a lucrative opportunity for market growth. New technologies effectively improve customer interaction with brokers and drive market expansion.
Key insights from market research
- Among the types of service providers, organizations hold a 77% market share in the global market.
- From 2023 to 2033, real estate brokerage is expected to grow at a CAGR of 5.6%
- Among regions, North America has a 41% market share in the global market.
- The real estate brokerage market recorded a growth rate of 4.8% during the historical period 2018-2022.
“Technological transformation will propel the real estate brokerage market to new heightssays a Fact.MR analyst.
Real Estate Brokerage Industry Research Segmentation
- By Service Mode:
- By type of property:
- By Provider:
- By region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East and Africa
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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 rely on the integration of advanced technologies such as artificial intelligence and others to improve customer engagement and increase their consumer base. Acquisitions and mergers to expand service offerings in various domestic and international markets is another initiative implemented by market players in the industry.
Profiled Key Companies
- CBRE Group
- 21st century
- International Necklaces
- Compass
- Cushman Wakefield, Inc.
- Secure Eastdil
- ERA Real Estate
- eXp Real Estate
- Home Services of America
- Global IQI
- Jones Lang LaSalle Inc
- Keller Williams Realty, Inc.
- Newmark Grubb Knight Frank
- RE/MAX
- Realology Holdings Corp.
- Realty One Group Inc.
- Savills Plc
- Sotheby’s International Realty
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More valuable information about the offer
Fact.MR, in its new offering, presents an unbiased analysis of the global real estate brokerage market, showcasing historical market data (2018-2022) and forecast statistics for the period 2023-2033.
The study reveals critical insights on the basis of service mode (online, offline), ownership type (residential, commercial) and service provider (individuals, organizations), in major regions of the world (Americas North, Latin America, Europe, East Asia, South Asia and Oceania, Middle East and Africa).
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