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.
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.
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.
The Business Research Company is a Business Intelligence Company
which excels in company, market and consumer research. It has offices in the
UK, the US and India and a network of trained researchers in 15 countries
globally.
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