NEW YORK, Oct. 25, 2024 /PRNewswire/ — Report on how AI is redefining the market landscape – According to Technavio, the U.S. real estate brokerage software market will grow from 900 million yen between 2024 and 2028. It is estimated to grow by $89.1 million. The market is estimated to grow at a CAGR of 9.33% during the forecast period. Real estate agents’ increasing focus on improving operational efficiency and customer service is driving market growth, and vendors are also increasingly focusing on new product launches. However, the availability of open source real estate brokerage software solutions poses challenges. Key market players include Altus Group Ltd., BoomTown ROI, LLC, Brokerage Management Solutions Inc., COMPASS, INC., CoreLogic Inc., CoStar Group Inc., and Enchant. LLC, eXp World Holdings Inc., Inside Real Estate, Keller Williams Realty Inc., Lone Wolf Technologies Inc., Placester Inc., RE MAX Holdings Inc., Real Geeks LLC, REALTYBACKOFFICE INC., Redfin Corp, Salesforce Inc., The Wise Agent LLC, Wooley Robertson Group Inc., Yardi Systems Inc., Zillow Group Inc., and Zurple Inc.
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US real estate brokerage software market
Report scope
detail
base year
2023
historical era
2018-2022
Forecast period
2024-2028
Growth momentum and CAGR
Accelerating at a CAGR of 9.33%
Market Growth 2024-2028
US$989.1 million
market structure
fragmented
YoY growth rate (%) for 2022-2023
9.04
regional analysis
us
Contribute to the market
North America 100%
Major countries
United States and North America
Introduction of major companies
Altus Group Ltd., BoomTown ROI, LLC, Brokerage Management Solutions Inc., COMPASS, INC., CoreLogic Inc., CoStar Group Inc., Enchant LLC, eXp World Holdings Inc., Inside Real Estate, Keller Williams Realty Inc., Lone Wolf Technologies Inc., Placester Inc., RE MAX Holdings Inc., Real Geeks LLC, REALTYBACKOFFICE INC., Redfin Corp, Salesforce Inc., The Wise Agent LLC, Wooley Robertson Group Inc., Yardi Systems Inc., Zillow Group Inc. , and Zoople Co., Ltd.
market drivers
The US real estate brokerage software market is experiencing significant growth as vendors increasingly focus on innovation. To stay competitive, software providers are investing in advanced technology and features that meet the complex requirements of real estate professionals. For example, Inside Real Estate, a prominent technology partner for over 400,000 agents, teams, brokerages, and franchise brands, has a 2024 product roadmap that includes AI-driven productivity tools, customizable design options, and a back-office technology suite. has been introduced. These enhancements will enhance productivity and growth by unifying front-to-back-office operations and enabling agents and brokers to leverage AI and automation to differentiate their businesses. The purpose is Similarly, Lone Wolf Technologies has launched Lone Wolf Foundation, a comprehensive solution that integrates key real estate capabilities into a single platform. These trends demonstrate vendors’ commitment to innovate, meet the evolving demands of the real estate industry, and drive growth in the U.S. real estate brokerage software market.
U.S. real estate agents are implementing digital solutions to streamline operations and improve the customer experience. Brokerage software, a key digital technology, offers features such as CRM for managing customer data, transaction management for smooth transactions, and marketing automation for lead generation. Real estate listing management ensures accurate and timely listings, and business intelligence and data analytics provide valuable insights. Remote work and cloud-based solutions offer flexibility and accessibility. The integration of AR and VR will provide virtual tours, while ML and AI will power personalized services. Compliance tracking, document preparation, and electronic signatures ensure efficiency and security. Financial management, rental and leasing, real estate investment, and performance tracking are important functions that are seamlessly handled by these smart solutions. Blockchain technology and smart contracts enable secure contract management. The ROI from these software technologies is significant, making them a wise investment for real estate agents.
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market challenges
The US open source real estate brokerage software market has significant competition from the commercial real estate brokerage software industry. Open source platforms such as Open Realty and Real Estate Webmaster offer cost-effective alternatives with customizable and adaptable solutions. These platforms offer features such as CRM, property management, and listing services at a fraction of the cost of commercial software. However, open source solutions may attract smaller companies and independent brokers, which could impact the growth of the commercial market. Proprietary software vendors must differentiate their products by offering advanced features, enhanced support, and security measures to justify higher costs. Continuous advancement in open source solutions poses significant challenges to the growth of the US real estate brokerage software market during the forecast period. The US real estate brokerage software market is experiencing significant growth due to the increased use of digital tools. industry. Cloud-based solutions and property management systems are becoming essential for agents to efficiently manage listings, tenants, and properties. The increased use of the internet and smartphones has made mobility features a must for brokers on the go. Digital transformation is an important trend, and central data management enables better decision-making and predictive analytics. Challenges include cybersecurity, with the need for secure data sharing and remote monitoring. Emerging technologies such as blockchain, virtual reality, and augmented reality are disrupting the industry and creating new opportunities for tracking asset performance, managing leases, and billing tenants. Big data analytics and IoT are also important for optimizing building performance and real estate development. Omnichannel communication and customized solutions meet the diverse needs of our clients. Multilingual solutions expand coverage, and project and facilities management streamlines operations. Real estate transactions are benefiting from document sharing and digital tools.
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Segment overview
This US Real Estate Brokerage Software Market report covers the market segmentation extensively.
Types 1.1 Customer relationship management 1.2 Transaction management 1.3 Lead generation 1.4 Real estate management 1.5 Other Implementation 2.1 Cloud-based 2.2 On-premise applications 3.1 Residential 3.2 Commercial 3.3 Industrial geography
1.1 Customer Relationship Management – The US real estate brokerage software market is experiencing significant growth. This market includes software solutions designed to streamline and automate a variety of brokerage tasks, including lead management, property listings, deal management, and reporting. These tools help real estate brokers and agents increase efficiency, reduce errors, and improve customer service. Key players in this market include MLSListings, RE/MAX, Zillow, and others. These companies offer a variety of software solutions that cater to different brokerage needs and budgets. The market is expected to continue to grow due to the increasing adoption of technology in the real estate industry.
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research analysis
The real estate brokerage software market in the United States is experiencing significant growth as digital solutions become essential to streamlining operations and managing complex transactions. Digital technologies such as CRM, transaction management, marketing automation, real estate property management, and lead generation are transforming the industry. The use of cloud-based solutions, automation, and ROI-focused software technology is increasing efficiency and productivity. Internet usage and smartphone penetration continue to increase, making digital transformation a priority for real estate agents. Security is a major concern, and blockchain technology and smart contracts offer potential solutions for contract management. Centralized data management is also critical to effective customer relationship management and real estate management systems. Overall, the market is moving towards smart, integrated solutions that increase competitiveness and improve customer experience.
Market research overview
The US real estate brokerage software market is experiencing significant growth as digital solutions become essential to streamlining operations and improving customer experience. Digital technologies such as CRM, transaction management, marketing automation, listing management, and lead generation are transforming the way real estate agents operate. Virtual tours, business intelligence, data analytics, and remote working are becoming increasingly popular, and cloud-based solutions offer flexibility and integration with other tools. Augmented reality (AR) and virtual reality (VR) property viewing experiences are also gaining traction. Machine learning (ML) and artificial intelligence (AI) are used for data security, performance tracking, compliance tracking, document creation, and electronic signatures. The market is expected to continue to grow as the industry embraces digital transformation with a focus on ROI, data management strategies, and sensitive data protection. Emerging technologies such as blockchain technology, smart contracts, and the Internet of Things (IoT) are also expected to play a role in the future of real estate software. Architects and engineers, real estate agents and construction activities are among the industries that will benefit from these smart solutions. The market is expected to continue to grow due to the spread of smartphones and the Internet.
table of contents:
1 Overview
2 Market scenery
3 Determining market size
4 Past market size
5 Five Forces Analysis
6 Market segmentation
TypeCustomer Relationship ManagementTransaction ManagementLead GenerationReal Estate ManagementOther ImplementationApplicationsResidentialCommercialIndustrialGeography
7 Customer situation
8 Geographic Landscape
9 drivers, challenges and trends
10 Company scenery
11 Company analysis
12 Appendix
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