 |
|
Commercial Real Estate Brokerage and Management Industry Profile Excerpt
| SIC Codes: 6512, 6513, 6531 NAICS Codes: 53131, 531210 Page Length: 10-12 Last Quarterly Update: 4/21/2008 View Sample Industry Profile |
 |
The US commercial real estate service industry includes about 35,000 companies with combined annual revenue of about $50 billion. Major companies include CB Richard Ellis, Jones Lang LaSalle, and Cushman & Wakefield. The industry is highly fragmented: the 50 largest companies account for less than 25 percent of industry revenue.
The industry includes sales and leasing brokers and agents for commercial property - including apartment buildings - and property managers. Many companies combine these functions. Many owners of commercial property perform their own leasing and property management, and aren't included in this industry. Commercial real estate financing is not included in this industry.
COMPETITIVE LANDSCAPE
Demand, which is driven by the volume of commercial real estate transactions, is heavily influenced by real estate vacancy rates. The profitability of individual companies depends on efficient operations. Large companies have advantages in performing a full range of services in multiple markets. Small companies can compete effectively by specializing in local markets. Average annual revenue per worker is over $200,000 for brokers and agents, but under $100,000 for property managers, reflecting the more labor-intensive nature of the work.
PRODUCTS, OPERATIONS & TECHNOLOGY
Commercial real estate brokers and agents buy and sell commercial real estate property and lease space within commercial buildings. Most owners of commercial real estate property, including individuals, companies, and REITs, don't occupy their property but instead lease space to others.
Property managers are typically involved in the day-to-day operations of a commercial ...
Would you or your company benefit from having unlimited access to First Research’s industry intelligence tools? Click Here to find out more about Subscription options.