The US commercial real estate brokerage and management industry includes about 25,000 companies with combined annual revenue of about $30 billion. Major companies include CB Richard Ellis, Jones Lang LaSalle, and Cushman & Wakefield. The industry is fragmented: the 50 largest companies account for one-third of industry revenue.
The industry includes sales and leasing brokers and agents for nonresidential property, as well as property managers. Many companies combine these functions. Owners of commercial property who perform their own leasing and property management 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 business.
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 property, such ...
(0 items)
