The modern-day “realtor” is a name that is usually applied to a realtor who is a specialist in the field of selling and leasing property.
While real estate agents (realtors) sell and lease their homes and apartments, the term “realtor” is usually reserved for those who manage the practice of real estate marketing.
In fact, real estate advertising is still the largest sector of the real estate industry, accounting for almost one-third of the total advertising revenue of the sector.
Real estate advertising and marketing is a highly lucrative sector of realty.
In India, realtor services account for over Rs. 20,000 crore ($32 billion) in the annual market, while the entire real estate sector, which includes commercial, residential and retail, contributes over Rs 1,500 crore ($1,521 million) to the sector’s total revenue.
In recent years, the realtor sector has seen a rapid expansion and is expected to grow further in the coming years.
According to research firm Euromonitor, the total value of the industry is worth over Rs 12,000 billion ($2.1 trillion).
Realtor services include agents and marketing staff, as well as sales associates.
Agents are hired by buyers, sellers, realtors, brokers and dealers to sell properties.
Marketing is done by agents, and is often done in-house.
According to Euromonitors, the sector employs about 12,700 people, and generates revenues of over Rs 6,400 crore ($6.1 billion) annually.
The real estate market is expected be a big one in the near future, as India’s real estate prices are expected to go up.
The Indian real estate segment is expected grow at a healthy pace of around 7.5% annually from 2019 to 2020, according to research and forecasts.
This is an excerpt from the forthcoming book “Real Estate: The Real Estate Industry in India”.