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Rising property values and listing numbers have contributed to the biggest increase in real estate agents in more than a decade.
According to figures from NSW Fair Trading, there has been a 40 per cent increase over the past year in the number of people obtaining real estate licences, with an additional 50 professionals joining the industry each week.
The number of real estate newcomers acquiring a Certificate of Registration has also increased by 28 per cent over the last 12 months in NSW.
Malcom Gunning, president of the Real Estate Institute of NSW, told Fairfax that while the licence also allows holders to sell stock and manage strata buildings, “the numbers reflect the strength of the property market”.
“A lot of people, when the market’s hot, just jump into it,” he said.
But according to Tony Rowe, a real estate training consultant for BPG Training, not many people remain in the industry.
“There is an 80 per cent dropout rate in the first 12 months,” he told Fairfax.
“It is reasonably easy to sell property in the current market because there is so much demand.
“But successful agents are those who have been through the highs and lows.”
Mr Gunning also questioned the level of education and training needed to become a real estate agent, especially when million-dollar trusts are involved.
“Having a licence doesn’t necessarily mean you are a competent real estate agent,” he said.
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