Residential Brokers & Property Managers NAICS 531311, 531210

        Residential Brokers & Property Managers

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Purchase Report

Industry Summary

The 94,000 residential real estate and property management firms in the US work with owners to find buyers for property for sale, lessees for property for rent, and to maintain and manage rental property. Over 60% of industry revenues come from the sale of residential property, and the remainder comes from property management services.

Fewer Qualified Buyers

Mortgage lenders adopted stricter lending practices in the wake of the 2008 financial crisis, making it more difficult, especially for first time home buyers, to qualify for new loans.

Greater Internet Marketing

Residential real estate brokers and property managers are increasing their use of both the internet and multiple listing services (MLS) to advertise available properties to prospective buyers and renters.


Recent Developments

Aug 19, 2025 - Renters Drive Household Formations
  • Renters were the sole driver of the rise in household formations in the second quarter of 2025, according to the Census Bureau’s most recent Housing Vacancy Survey (HVS) and the National Association of Home Builders (NAHB). In Q2 2025, the total number of US households increased to 132.5 million, up by 1.2 million compared to 131.3 million in the second quarter of 2024. The increase in new households was entirely driven by renters, amid the lowest homeownership rate since 2019. US homeownership fell to 65% of total households in Q2 2025 and was 4.2 percentage points below the 25-year average of 66.3%. High home prices, elevated mortgage rates, and low inventories have pushed housing affordability to the lowest level in decades.
  • So far in 2025, small investors are playing an outsized role in the U.S. single-family housing market, according to The Wall Street Journal. In the first half of 2025, small investors accounted for about 25% of home purchases, outpacing large institutional buyers, according to property analytics firm Cotality. While traditional home buyers remain sidelined by high home prices and interest rates, small investors are capitalizing on seller incentives. Unlike large firms constrained by institutional reporting, smaller investors can take greater risks and are increasingly targeting mid-priced homes to renovate and rent. An uptick in the percentage of homes sold to small investors could boost demand for residential remodeling as investors buy and fix up homes for flipping or renting.
  • The Trump administration’s proposed $27 billion cut to federal rental assistance programs—amounting to a 43% reduction—has triggered concern across the affordable housing sector, stalling projects and shaking lender confidence, according to The Wall Street Journal. Some developers have halted construction due to postponed Section 8 subsidies, while lenders cite uncertainty over HUD funding as a significant deterrent. Although the House Appropriations Committee rejected the overhaul, HUD continues lobbying for the cuts, which would slash its budget by 44%. Critics warn that the move could destabilize the housing system, jeopardizing billions in multifamily loans and undermining gains from recent tax law changes that expanded the Low-Income Housing Tax Credit. Despite these incentives, developers argue that new affordable units may lack the operating revenue to remain viable without voucher programs.
  • National rent trends showed modest growth in July, according to Yardi Matrix and reporting by Multifamily Dive. The average U.S. rent rose by $2 to $1,754 in July, while year-over-year rent growth held steady at 0.7%, continuing a 20-month streak of subdued gains. Rent changes were evenly split across the top 30 metros, with the Midwest and Northeast leading in increases—though previously strong performers like Indianapolis and Kansas City, Missouri, began to cool. Meanwhile, markets like San Francisco and Austin are rebounding from prolonged declines, with Austin still posting the lowest YOY growth at -4.6% despite a slight monthly uptick. Strong demand and absorption of new units are supporting rent growth nationally, though high lease-up inventory and ongoing construction—about 1 million units—are tempering upward rent trends.

Industry Revenue

Residential Brokers & Property Managers


Industry Structure

Industry size & Structure

The typical residential broker and property manager employs 3-12 workers and generates about $1 million in annual revenue.

    • There are about 94,000 firms in the US with $128 billion in annual revenue and about 1.1 million employees.
    • The industry is highly fragmented with the 50 largest firms totaling 20-32% of industry revenue.
    • The largest firms include Century 21, Re/Max Realtors, and Coldwell Banker.
    • The majority of industry employees are property managers and real estate agents. The remainder are office/administrative support and management.

                              Industry Forecast

                              Industry Forecast
                              Residential Brokers & Property Managers Industry Growth
                              Source: Vertical IQ and Inforum

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