Residential Real Estate Brokerage & Management
Companies in this industry act as agents or brokers in the buying and selling of residential real estate, in addition to leasing and managing residential properties. Major companies include Anywhere Real Estate, HomeServices of America, Keller Williams, and Re/Max (all based in the US), as well as Countrywide (UK), Deutsche Wohnen (Germany), FirstService (Canada), and Leopalace21 (Japan).
The global real estate market is forecast to grow about $3.7 trillion in 2022, according to the Business Research Company. The market is forecast to reach $7.9 trillion with a 1.8% compound annual growth rate (CAGR) by 2028, according to iMarc Group.
The US residential real estate brokerage and management industry includes about 260,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $300,000.
Competitive Landscape
Demand is driven by population growth and construction activity. The profitability of residential real estate brokerage and management companies depends on demand for properties and the volume of transactions they handle. Demand and volume are usually higher during periods of strong economic growth and can be negatively impacted by a recession or too much new construction. Large companies have only modest economies of scale and benefit mainly from better name recognition than smaller rivals. Small companies compete effectively by developing expertise in a single market or region. The US industry is fragmented: the 50 largest companies account for about 30% of revenue.
Products, Operations & Technology
Major services include the rental and leasing of homes, apartments, and rooming houses which accounts for about 50% of the revenues, followed by the rental
... plus:
Sales & Marketing
,
Finance & Regulation
,
Regional & International Issues
,
Human Resources
Also includes the following chapters:
Quarterly Industry Update
,
Industry Indicators
,
Business Challenges
,
Trends and Opportunities
,
Call Preparation Questions
,
Financial Information
,
Industry Forecast
,
Industry Websites
,
Glossary of Acronyms