The brokerage services firms act as an intermediary that connects buyers and sellers to facilitate a transaction. Brokerage companies receive compensation by means of commission once the transaction has successfully completed. Owners and developers manage their finances before acquiring a property and subsequently use real estate brokers to facilitate property sales transactions. Many brokerage firms also provide property management services to real estate owners.
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The global brokerage services market was valued at $1.2 trillion in 2017. This is mainly due to increased disposable income in many developed and developing countries, which is driving the demand for personal, commercial and real estate services. Also, increased investments in infrastructure projects contributed to the growth of the brokerage services market.
Among regional markets, Asia Pacific was the largest geographic region accounting for almost half of the global market share.
The market in the report is segmented into: residential buildings and dwellings brokers, non-residential buildings brokers, mini warehouses and self-storage units’ brokers and other brokers.
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China was the largest country in the market, accounting for one-fifth of the global brokerage services market share. China was followed by India and Japan as the next largest countries in the market.
The top five competitors in the market are: CBRE Group followed Jones Lang LaSalle Inc., Newmark Grubb Knight Frank, Keller Williams and Century 21. CBRE Group, Inc. is the largest commercial real estate services and investment firm in the world. It is based in Los Angeles, California and operates more than 450 offices worldwide and has clients in more than 100 countries. Services provided by the company include facilities management services to occupiers of commercial real estate as well as property management, leasing, capital markets, appraisal, and brokerage services to owners of commercial real estate.
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