NAICS 531210 Quarterly Industry Report
Offices of Real Estate Agents and Brokers
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 531210Sector: Real Estate and Rental and Leasing (53)Updated: Q1 2026
About This Report
This industry profile for Offices of Real Estate Agents and Brokers (NAICS 531210) draws on data from the U.S. Census Bureau[5], Bureau of Labor Statistics[6], and National Association of Realtors[7]. Published by Fair Market Value and updated quarterly, it provides real estate professionals, franchise operators, and investors with classification guidance and market context. Additional data is drawn from SBA[8].. The editorial analysis reflects the independent assessment of FairMarketValue.com's research team.
Industry Snapshot
Key metrics for the offices of real estate agents and brokers industry.
NAICS Sector
53
Real Estate and Rental and Leasing
Industry Definition & Overview
Offices of Real Estate Agents and Brokers (NAICS 531210) encompasses establishments whose principal business is acting as intermediaries in real estate transactions on a fee or commission basis. This includes residential and commercial real estate agents, brokers engaged in selling property for others, buying property for others, and renting property for others. Per Census Bureau data[5], the industry comprised approximately 143,248 establishments with 383,471 employees.
The sector experienced substantial contraction following record activity in 2021 and 2022. Full-time agent and broker positions declined to 398,000 in 2024, the lowest level since 2013, driven by elevated mortgage rates, reduced transaction volumes, and commission structure changes. Per the Bureau of Labor Statistics[6], real estate brokers held 111,300 jobs while sales agents held 420,900 jobs in 2024, with projected 3 percent growth through 2034. Median annual wages were $72,280 for brokers and $56,320 for agents.
Florida has the largest concentration of realtors, followed by California and Texas. Per the National Association of Realtors[7], about 1.5 million members hold NAR membership nationally. Commission structures have shifted following recent legal settlements, with traditional 5 to 6 percent total commissions facing downward pressure. Brokerages have adapted by expanding ancillary services including business brokerage, commercial consulting, relocation services, and home staging to maintain revenue.
What's Included in This Industry
- Residential real estate brokerage offices
- Commercial real estate brokerage operations
- Real estate auction services
- Buyer representation and buyer agency
- Seller representation and listing services
- Lease negotiation and rental brokerage
- Real estate consulting and advisory services
- Multiple Listing Service (MLS) participation
- Property marketing and sales support
- Relocation services and referral networks
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Real Estate and Rental and Leasing | 53 |
| Subsector | Real Estate | 531 |
| Industry Group | Offices of Real Estate Agents and Brokers | 5312 |
| NAICS Industry | Offices of Real Estate Agents and Brokers | 53121 |
| National Industry | Offices of Real Estate Agents and Brokers | 531210 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 531311 | Residential Property Managers | Residential Property Managers operate and manage residential properties for others on a fee basis, providing ongoing management rather than transaction brokerage services |
| 531312 | Nonresidential Property Managers | Nonresidential Property Managers provide commercial property management services, a parallel management function distinct from the transaction-focused brokerage in 531210 |
| 531320 | Offices of Real Estate Appraisers | Offices of Real Estate Appraisers determine property values for transactions brokered by 531210 firms, providing independent valuations required by lenders and buyers |
| 531390 | Other Activities Related to Real Estate | Other Activities Related to Real Estate includes escrow services, real estate fiduciaries, and listing services that support but differ from direct brokerage activities |
| 531110 | Lessors of Residential Buildings and Dwellings | Lessors of Residential Buildings and Dwellings own and lease properties directly, contrasting with the intermediary transaction role of brokers under 531210 |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) | Lessors of Nonresidential Buildings own and lease commercial properties directly, representing property owners who may hire 531210 brokers for leasing services |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 14.1% | 23,362 |
| 2 | Florida | 12.8% | 21,241 |
| 3 | Texas | 6.7% | 11,144 |
| 4 | Colorado | 4.7% | 7,758 |
| 5 | New York | 4.1% | 6,773 |
| 6 | North Carolina | 4.0% | 6,694 |
| 7 | Arizona | 3.9% | 6,444 |
| 8 | Georgia | 3.8% | 6,268 |
| 9 | Washington | 3.5% | 5,713 |
| 10 | Illinois | 3.0% | 4,936 |
% Of Establishments
0%
14%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
3,216
Total SBA Loans
$617.5M
Total Loan Volume
$192K
Average Loan Size
11 yrs
Average Loan Term
11.07%
Average Interest Rate
15,152
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA size standard for NAICS 531210 is $15.0 million in average annual receipts (SBA Size Standards[9]). This lower threshold (compared to $34 million for property lessors) reflects the commission-based revenue model and lower capital intensity of brokerage operations. Most real estate brokerage offices qualify as small businesses under this standard. SBA 7(a) loans can fund office establishment, technology upgrades, and working capital for qualifying brokerage firms. Additionally, 504/CDC loans[10] provide long-term, fixed-rate financing for major fixed assets such as real estate and equipment.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Northeast Bank | 552 | $80.8M | $146K |
| 2 | Cadence Bank | 72 | $47.9M | $666K |
| 3 | Newtek Bank, National Association | 248 | $44.2M | $178K |
| 4 | Lendistry SBLC, LLC | 152 | $30.7M | $202K |
| 5 | TD Bank, National Association | 256 | $28.8M | $113K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 531210?
NAICS 531210 includes establishments that act as intermediaries in real estate transactions for a fee or commission. This covers residential brokerages, commercial real estate firms, auction services, buyer's agents, listing agents, and rental brokers. Per the Census Bureau[5], approximately 143,248 establishments operate in this classification.
How is the real estate brokerage industry structured?
The industry includes about 143,248 establishments with 383,471 employees. Per the Bureau of Labor Statistics[6], brokers held 111,300 jobs and agents held 420,900 jobs in 2024. The market ranges from solo practitioners to large franchised networks like Keller Williams, RE/MAX, and Coldwell Banker. Full-time positions dropped to 398,000 in 2024, the lowest since 2013.
What is the SBA size standard for NAICS 531210?
The SBA size standard is $15.0 million in average annual receipts (SBA Size Standards[9]). This threshold is lower than the $34 million standard for property lessors, reflecting the commission-based revenue model and lower capital requirements of brokerage operations.
What NAICS codes are related to real estate agents and brokers?
Closely related codes include 531311 and 531312 (Property Managers), 531320 (Real Estate Appraisers), 531390 (Other Real Estate Activities), 531110 (Residential Building Lessors), and 531120 (Nonresidential Building Lessors). Each represents a different function within the real estate services ecosystem.
Which industries work most closely with real estate brokers?
Banks (522110) and credit unions (522210) provide mortgage financing for transactions. Title companies (541191) handle closings. Lawyers (541110) prepare contracts. Residential builders (236115) create inventory. Insurers (524126) provide homeowner's policies. Per NAR data[7], mortgage lending is the single most critical support industry for brokerage transaction volume.
What activities are included in NAICS 531210?
Activities include listing properties for sale, representing buyers in purchase transactions, negotiating lease terms, conducting property showings, marketing properties through MLS systems, providing comparative market analysis, managing real estate auctions, and coordinating transaction closings between buyers, sellers, lenders, and title companies.
Can you get an SBA loan for a real estate brokerage?
SBA loans are available for qualifying brokerage firms meeting the $15.0 million size standard. SBA 7(a) loans[11] can fund office establishment, technology systems, marketing programs, and working capital. However, SBA loans cannot fund speculative real estate investment; they must support active brokerage business operations.
Which states have the highest concentration of real estate agents?
Florida leads with over 216,000 realtors, followed by California (196,000+) and Texas (143,000+). Per the National Association of Realtors[7], total NAR membership is about 1.5 million nationally. These figures represent NAR members; total licensed agents exceed these numbers in each state due to non-member licensees.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Census Bureau data census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]National Association of Realtors nar.realtor
- [8]SBA sba.gov
- [9]SBA Size Standards sba.gov
- [10]504/CDC loans sba.gov
- [11]SBA 7(a) loans sba.gov
Disclaimer
This publication has been prepared by Fair Market Value (“Fair Market Value”) for informational purposes only. It is provided on an “as-is” and “as available” basis. Fair Market Value makes no representations or warranties, express or implied, regarding the merchantability, fitness for a particular purpose, completeness, or accuracy of the data or information contained herein. This publication is not intended to be, and should not be construed as, professional financial, legal, tax, or investment advice. Users should consult with qualified professionals before making any financial or business decisions based on the information presented.
To the extent permitted by law, Fair Market Value disclaims all liability for loss or damage, direct and indirect, suffered or incurred by any person resulting from the use of, or reliance upon, the data in this publication.
Copyright © 2026 Fair Market Value. All rights reserved. All data, information, articles, graphs, and content contained in this publication are copyrighted works and Fair Market Value hereby reserves all rights. No part of this publication may be copied, reproduced, republished, uploaded to a third party, or distributed without the prior written permission of Fair Market Value.