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Summary and extracts
1 Market Summary
1.1 Definition and presentation
A real estate agency is a professional organization that brokers real estate transactions. It acts as an intermediary between sellers and buyers of real estate, facilitating the sale, purchase, or rental of property. Agencies are generally made up of a team of licensed real estate agents who have specific knowledge of the local market and industry regulations. The real estate agency's function is to facilitate real estate transactions by offering services that include researching properties according to the client's needs, competitively evaluating properties, managing offers and negotiations, and even assisting in drafting and signing contracts. Real estate agencies provide detailed and specialized services for both property owners and buyers or renters:
For owners:
- Real estate appraisal: detailed analysis to determine the market value of the property.
- Real estate marketing: targeted strategies to advertise the property, including photo shoots, virtual tours, and listings on various channels.
- Property management: assistance in managing leases, property maintenance, and resolving any issues.
- Legal and tax advice: guidance in the legal and tax complexities of selling or leasing.
For buyers/landlords:
- Property search: personalized assistance in finding the property that best meets their needs.
- Negotiation and closing the deal: support in negotiating favorable terms and assistance in finalizing the deal.
- Assistance in mortgages and financing: advice on financing options, including navigating the mortgage approval process.
- Legal and cadastral verifications: help in understanding legal documentation, cadastral verifications, and zoning compliance of the property.
In 2023, the global real estate market reached an estimated value of $3892 billion. North America and Europe continue to dominate the global market, with market shares of 50.5 percent and 25.3 percent , respectively. Under this scenario, the global real estate agency and brokerage market is estimated to be $1406.3 billion in 2023. A compound annual growth rate (CAGR) of 6.8 percent between 2023 and 2028 is projected, which could result in the global market reaching a value of $1943.1 billion.
1.2 The global market
In ****, the global real estate market is estimated at $****.* billion. A compound annual growth rate (***) of *.*% is projected for the period ****-**** under which the market globally could reach a total value of $****.* billion. Real estate market World, ****-****, in billions of dollars Precedenceresearch Looking at the geographic distribution of the ...
1.3 The European market
The European estate agency market is expected to grow steadily over the period ****-****. This sector, which plays a crucial role in facilitating real estate transactions and supporting intermediation between buyers and sellers, saw its initial value stand at $*** billion in ****. Since then, the market has expanded significantly, reaching $***.** billion in ...
1.4 The Italian market
Between **** and ****, the residential real estate market in Italy shows strong growth. During the period, the market value grew by **.*%, from **.* billion euros to ***.* billion euros. The outbreak of the pandemic in **** brought market growth to a halt (***)
Residential real estate market Italy, ****-****, billions of euros agenziaentrate.gov.it
Considering ...
2 Demand analysis
2.1 Demand in Italy
To analyze the demand for real estate agencies in Italy, the segments of buying, selling, and renting of residential units are considered. Specifically, volumes (***) between **** and ***** are analyzed, as well as the shares of real estate agencies that have concluded buying and selling and leasing contracts between **** and **** . Buying and selling In ...
2.2 Demand drivers
Distribution of population by people who are renting Italy,****,Thousands Istat Considering the youngest segment of the population (***), it is possible to highlight the main reasons why buyers/landlords turn to a real estate agency. In ****, ** percent say they based their choice because agencies facilitate the buying and selling process; ** percent ...
2.3 Geographical distribution of demand
The geographic distribution of the number of normalized transactions in Italy in ****, expressed as a percentage, is shown. Central Italy is the area with the largest number of transactions, accounting for ** percent of the total, highlighted by the darker coloring. The Northeast follows with **.* percent, while the Islands and the South ...
2.4 Online real estate agencies
The growing consumer orientation toward online real estate agencies is driven by several factors that reflect contemporary market needs and changes in purchasing behavior. This phenomenon is influenced by the convenience and accessibility that such platforms offer, allowing customers to access services from anywhere and at any time, saving time and ...
3 Market structure
3.1 The market structure
in ****, the number of active enterprises was **,***, remaining stable until **** with **,*** enterprises. From ****, a gradual increase is observed, with **,*** enterprises, continuing until ****, where the number reaches **,***. Active enterprises under Ateco Code **.** "Real estate brokerage activities" Italy, ****-****, in thousands Istat;Business register
independent agencies represent the majority throughout the period, with ...
3.2 The value chain
3.3 The main actors
The following is a proposed list of the main ones divided between residential brokerage and franchise business:
Residential brokerage
Dils s.p.a: founded in ****, was born from the merger of Redilco and Sigest, companies with fifty years of experience in real estate. It specializes in consulting, brokerage and integrated real ...
3.4 The other players: real estate portals
A real estate portal is a website that collects real estate listings from real estate agencies and makes them visible to Internet users. These portals facilitate the meeting of supply and demand in the real estate market by actively facilitating the conclusion of transactions. Real estate portals offer various advantages to ...
4 Supply analysis
4.1 Type of the offer
A real estate agency is a professional organization that brokers real estate transactions. It acts as an intermediary between sellers and buyers of real estate, facilitating the sale, purchase, or rental of property. Agencies are generally made up of a team of licensed real estate agents who have specific knowledge of ...
4.2 The prices
The real estate commission is the amount calculated as a percentage that goes to pay for the work done by the real estate agent that begins with the placement of the ad for sale or rent until the primary proposal and the conclusion of the deed with the signature of both ...
4.3 Sales prices and rents
Buying and selling
Between **** and ****, the average sale price of real estate in Italy is essentially unchanged. However, while between January **** and April **** it is possible to show a decrease in the average sale price of *.*% (***).
Average sale price Italy, ****-****, in euros per m* Immobiliare.it
Lease
In contrast to ...
4.4 New supply trends
Generative artificial intelligence in the real estate market is revolutionizing the way real estate is bought and sold and managed. Here are some key aspects of this technology:
Real estate valuation: AI can analyze huge amounts of market data to estimate the value of real estate more accurately. This includes consideration ...
5 Rules and regulations
5.1 The legislation
The following are some of the main legislative aspects related to the activity of real estate brokerage:
Law No. ** of February *, ****: concerning the regulation of the profession of mediator. Article **** of the Civil Code: sanctions the activity of mediation by defining it as neutral: the mediator must not be related to ...
6 Positioning of actors
6.1 Segmentation
- DILS S.P.A
- CBRE S.P.A
- RISORSE PER ROMA S.P.A
- Tecnocasa Franchising s.p.a
- Re/Max Italia (Proximm s,p.a)
- Immobiliare.it s.p.a
- Idealista s.p.a
List of charts presented in this market study
- Real estate agency and real estate brokerage market
- Real estate market
- Housing market, breakdown by greographic area
- Leased dwellings
- Share of agencies that have sold at least one property
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