The real estate agency and brokerage services market significantly entails of the sales of real estate agency and brokerage services by several entities (organizations, sole traders and partnerships) that function as agents and/or brokers for real estate activities.
According to the report analysis, ‘Real Estate Agency and Brokerage Global Market Report 2019’ states that in the real estate agency and brokerage global market there are several corporates which presently operating more actively for leading the fastest market growth and registering the handsome value of market share around the globe throughout the near years while developing the better consumer satisfaction, decreasing the linked price, spreading the awareness related to the real estate agency and brokerage services, employing the young work force, implementing the profitable strategies, improving the applications of the real estate agency and brokerage and analyzing the strategies and policies of the government includes CBRE Group, Jones Lang LaSalle Inc, Newmark Grubb Knight Frank, Keller Williams, Century 21 and several others.
In addition, the commercial real estate (CRE) industry and brokerage service corporates are leveraging on immense data technology to recognize consumer choices and build robust customer interactions. Big data is a great data set that can be investigated to obtain the deeper insights into customer behavior and market dynamics and advance the decision-making procedure. It allows the CRE corporates to improve the utilization of resources and create better property sale or lease pronouncements. For example, View-The-Space, a US-based CRE management and technology firm generates the videos to track customer behavior. Block Avenue, a location-based platform, utilizes the big data to create crucial metrics and support the find potential property purchaser for CRE corporates. Some well-known great data startups in the CRE industry involve the Compstak, Honest Buildings, Rentlytics, redIQ, Reonomy, ReScour and Prop stack.
Whereas, technology endures to be an agent of transformation in all the areas of business and industry; the real estate market is no concession. The outstanding growth in the new applications is fluctuating commercial real estate, for the improved. Everyone from brokers, property managers to developers and tenants, advantage from the fresh tools that boost efficiency while saving cost.
Based on the region, the Asia Pacific was the largest region in the worldwide real estate agency and brokerage market, registering for 54% of the market in 2018. North America region was the second largest region dominating for 23% of the worldwide real estate agency and brokerage market. For instance, the Africa was the smallest economy in the worldwide real estate agency and brokerage market.
In addition, the speedy upsurge in the worldwide population as a result of augment in the migration has led to speedy urbanization. This scenario is predicted to catalyze the requirement for the real estate. Furthermore, significant augment in the requirement for the commercial buildings are predicted to continue to influence the market growth in the developed regions. Therefore, in the near years, it is expected that the market of real estate agency and brokerage will increase around the globe more significantly over the near future.
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Ankur Gupta, Head Marketing & Communications