Intermediation service activities for real estate activities

NACE v2.1 Code: M68.31

About intermediation service activities for real estate activities

NACE code 68.31 covers the intermediation services that facilitate real estate activities. This industry plays a crucial role in the broader real estate sector, connecting buyers and sellers, landlords and tenants, and enabling the efficient functioning of property markets. Intermediation services in real estate are essential for providing information, expertise, and transaction support to individuals and businesses engaged in the purchase, sale, or rental of residential, commercial, or industrial properties.

Production process

The main production techniques in this industry involve the provision of various intermediation services. Real estate agents and brokers act as intermediaries, using their knowledge of local markets, property listings, and negotiation skills to facilitate transactions between parties. They typically assist with tasks such as property viewings, price negotiations, contract preparation, and coordinating the completion of sales or rental agreements.

Production inputs

The key inputs required for this industry include a skilled workforce of real estate professionals, access to comprehensive property listings and market data, as well as strong relationships and networks within the local real estate community. Real estate intermediaries also rely on various technological tools, such as property management software, online listing platforms, and communication channels, to effectively connect buyers, sellers, landlords, and tenants.

Production outputs

The primary output of this industry is the successful facilitation of real estate transactions, enabling the transfer of property ownership or the establishment of rental agreements. The intermediation services provided by this industry support the activities described in 68.10 Real estate activities with own or leased property and 68.20 Renting and operating of own or leased real estate, as well as other related industries within the broader real estate sector.

Revisions to 68.31

Classification codes are adjusted frequently. The code may have been revised or replaced between system versions. The table below shows the history (newest to oldest) of the code 68.31. The most recent 1 version of this code (68.31) is in the NACE v2.1 system (this version):

This page shows the most recent version of code 68.31.

Older versions

Family tree for intermediation service activities for real estate activities

    graph LR
    A["<a href='/classifications/nace/v2-1/M'>M: REAL ESTATE ACTIVITIES</a>"]
A --> B["<a href='/classifications/nace/v2-1/M/68'>68: Real estate activities</a>"]
B --> C["<a href='/classifications/nace/v2-1/M/68/3'>68.3: Real estate activities on a fee or contract basis</a>"]
C --> D["<a href='/classifications/nace/v2-1/M/68/31'>68.31: Intermediation service activities for real estate activities</a>"]

    C --> E["<a href='/classifications/nace/v2-1/M/68/32'>68.32: Other real estate activities on a fee or contract basis</a>"]

    

    %% Color coordination by level

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    classDef level2 color:#000,fill:#e0a458,stroke:#333,stroke-width:1px
    classDef level3 color:#000,fill:#419d78,stroke:#333,stroke-width:1px
    classDef level4 color:#000,fill:#c04abc,stroke:#333,stroke-width:1px
    classDef level5 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
    classDef level6 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
    classDef highlight color:#000,fill:#fff,stroke:#000,stroke-width:5px



  %% Apply classes
  class A level1
class B level2
class C level3
class D level4
class E level4

  class D highlight

  %% class A level1
  %% class B,C level2
  %% class D,E,F,G,H,I level2
  %% class J,K,L,M,N,O,P level3
  %% class D highlight