Global Real Estate Agency And Brokerage Market Trends And Strategies Of Major Players In The Real Estate Agency And Brokerage Market 2021-2030
14 Jun, 2021
The real estate agency and brokerage services market consists of sales of real estate and brokerage services by entities (organizations, sole traders and partnerships) that act as agents and/or brokers for real estate activities.
Global Real Estate Agency And Brokerage Market Size And Drivers:
The global real estate agency and brokerage market is expected to grow from $960.12 billion in 2020 to $1008.95 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1351.1 billion in 2025 at a CAGR of 8%. Economic growth and a rapidly growing urban population is expected to increase the demand for residential and commercial buildings brokers, during the forecast period.
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Trends In The Global Real Estate Agency And Brokerage Market
Real estate companies are investing in artificial intelligence applications to perform various functions such as property search, building management and design. Artificial intelligence is helping real estate companies to find people looking to buy or sell properties, find a suitable property based on customer requirements, redesign office spaces based on user behavior. According to a research conducted by Drooms, AI technology provider around 54% of property professionals surveyed already use artificial intelligence to improve keyword search and 69% believe AI gives their companies competitive advantage by enabling high speed search of documents. For instance, REX, a real estate company analyses data from third parties such as Google to determine willingness of a person to buy or sell a house. WeWork, a startup that provides shared workspaces is using artificial intelligence to design its office spaces.
Global Real Estate Agency And Brokerage Market Segments:
The global real estate agency and brokerage market is further segmented based on type, mode and geography.
By Type: Residential Buildings And Dwellings Brokers, Non-Residential Buildings Brokers, Mini warehouses And Self-Storage Units Brokers, Other Brokers
By Mode: Online, Offline
By Geography: The global real estate agency and brokerage market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global real estate agency, brokerage market, accounting for 53% of the market in 2020.
Read More On The Report For The Global Real Estate Agency And Brokerage Market At:https://www.thebusinessresearchcompany.com/report/real-estate-agency-and-brokerage-global-market-report-2020-30-covid-19-impact-and-recovery
Real Estate Agency And Brokerage Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides real estate agency and brokerage market overviews, analyzes and forecasts market size and growth for the global real estate agency and brokerage market, real estate agency and brokerage market share, real estate agency and brokerage market players, real estate agency and brokerage market segments and geographies, real estate agency and brokerage market’s leading competitors’ revenues, profiles and market shares. The real estate agency and brokerage market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.