It is estimated for the global real estate brokerage market to witness growth at a CAGR of 7.1% during the forecast period of 2022 to 2030.
The market witnessed growth at the rate of 6.6% during the previous forecast period of 2018 to 2021. A real estate agent or broker is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. The return he or she finds as the result of selling of the property is known as brokerage.
The real estate brokerage market is a highly competitive industry that deals with the buying, selling, and renting of real estate properties. Real estate brokers act as intermediaries between buyers and sellers, helping them navigate the complex process of real estate transactions. The market is dominated by a few large players, including Keller Williams Realty, RE/MAX, Coldwell Banker, and Century 21, but there are also many smaller independent brokers and regional firms. The industry has seen significant consolidation in recent years, with larger firms acquiring smaller ones to gain market share and expand their geographic footprint. Technology is also playing an increasingly important role in the real estate brokerage market, with the development of online platforms and mobile apps that allow buyers and sellers to search for properties, communicate with brokers, and complete transactions digitally.
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The growth in the construction activities across the globe to boost the growth of the market during the forecast period. The growth in the population across the globe is demanding the increase in the construction of houses for living and this factor is also estimated to boost the growth of the market during the forecast period. Apart from this the growth in the disposable income of the people is leading to the growth in the construction activities and this facto is also estimated to boost the growth of the market during the forecast period. The growth in the office construction owing to the growing demand for employment is also estimated to foster the growth of the market during the forecast period. Also, the shifting of people from rural areas to smart cities across the globe is leading to continuous development in these cities and this factor is also estimated to drive the growth of the market during the forecast period.
Global Real Estate Brokerage Market- Market Trends
• The growth in the population across the globe is demanding the increase in the construction of houses for living and this factor is estimated to boost the growth of the market during the forecast period.
• Apart from this the growth in the disposable income of the people is leading to the growth in the construction activities and this facto is also estimated to boost the growth of the market during the forecast period.
• Also, the shifting of people from rural areas to smart cities across the globe is leading to continuous development in these cities and this factor is also estimated to drive the growth of the market during the forecast period.
Global Real Estate Brokerage Market – Segmentation
The global real estate brokerage market is segmented based on type and by mode.
Based on type, the market is segmented into,
• Residential Buildings and Dwellings Brokers
• Non-Residential Buildings Brokers
• Mini warehouses and Self-Storage Units Brokers
• Other Brokers
Based on mode, the market is segmented into,
• Online
• Offline
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Global Real Estate Brokerage Market – Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Real Estate Brokerage Market – Key Market players
CBRE Group; Jones Lang LaSalle Inc; Newmark Grubb Knight Frank; Keller Williams; Century 21 are the major players that are driving the growth of the market during the forecast period.
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