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10,000 Australian Real Estate Agents Leave the Industry; Financial Review
Topic Started: 3 Jun 2011, 11:12 AM (9,613 Views)
muzza
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10,000 professional liars looking for work, don't your heart bleed for them.
Here's the headline from the Fin...go check it out...

http://afr.com/p/business/property/going_going_estate_agents_gone_Vryl5IgL9cOsm89QsC7FYP

Going, going, 10,000 estate agents gone
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Catweasel
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muzza
3 Jun 2011, 11:12 AM
10,000 professional liars looking for work, don't your heart bleed for them.
Here's the headline from the Fin...go check it out...

http://afr.com/p/business/property/going_going_estate_agents_gone_Vryl5IgL9cOsm89QsC7FYP

Going, going, 10,000 estate agents gone
Catweasel say "white shoe" better than "professional liar." How the ever, industry reputation not a pretty one. Real estate agent on CV can have the negative impact. If Catweasel hire it, would be able to recognize the liar from a ignorant a very quickly.
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muzza
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Catweasel
3 Jun 2011, 11:21 AM
Catweasel say "white shoe" better than "professional liar." How the ever, industry reputation not a pretty one. Real estate agent on CV can have the negative impact. If Catweasel hire it, would be able to recognize the liar from a ignorant a very quickly.
Yeah, perhaps you're right Cat. I'm sure there is good and bad in that industry as in any other. I can only go by my own experience ... probably two thirds of the agents I have dealt with closely have proven to be liars. Apologies to the honest ones out there.
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Admin
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Full text.

Quote:
 
Going, going, 10,000 estate agents gone

Ben Hurley and Ruth Liew

April sales volumes fell nationally by 21 per cent compared with April last year. Photo: Rob Homer

Ten thousand real estate agents, about one in six, have abandoned the profession in the past year as low sales ­volumes and falling commissions wipe out their profits.

Rising interest rates and poor consumer confidence have made it much harder to sell houses, and figures from the Real Estate Institute of Australia show many more people are leaving the industry than entering it.

Sydney-based Bill Bridges, a 55- year industry veteran, has witnessed plenty of downturns, but “I can’t ever remember it being tougher”.

“I want someone to tell me why it’s going to get better; I can tell you 20 reasons why it won’t,” Bridges says.

“This is a worldwide thing.

“Some agents are telling you it’s great, but it’s not reflecting in their ­figures, I’ll tell you.”

Big, well-resourced groups such as L J Hooker and Ray White are taking advantage of the downturn to lure the best sales people and pick up business where others fold.

The slump and exodus of agents has been more marked in resources-rich Western Australia and Queensland, where housing boomed before the financial crisis.

REIA president David Airey ­estimates that the number of estate agents nationwide has dropped to 50,000, from 60,000 a year ago.

There were 72,000 agents in the 2006 census.

Exact figures are difficult to find for the past year because of different state licensing requirements.

But in Western Australia, the number of licensed real estate agents has dropped from 3500 to 2600 in the past year, and sales representatives have dropped from 11,000 to 7500.

“There’s been a huge reduction over the past year,” Airey says.

“There’s been a more recent trend that resignations or business closures are actually exceeding the number of new [REIA] members. Hopefully that’s a short-term trend.”

RP Data head of research Tim ­Lawless says April sales volumes fell nationally by 21 per cent compared with April last year.

“That’s going to be hurting the hip pocket of anyone associated with the real estate industry,” Lawless says.

The value of real estate sold climbed steeply through 2009, according to figures by Fairfax Media-owned ­Australian Property Monitors, ­reaching a record $27 billion in March 2010 as low interest rates and the federal government’s boosted first-home owners’ grant spurred thousands of new buyers into the ­market.

But since June 2010 the value of property sold has been plunging monthly by up to 27 per cent when compared with the corresponding month of 2009, because of climbing interest rates and global uncertainty.

Last year in November, typically a strong month, $21 billion of property changed hands. Ray White Surfers Paradise has cut its sales staff by 18 per cent in the past three years to just over 100, and chief executive Andrew Bell says winter will be tough. He thinks sales ­volumes will start to return in spring.

“The last time we saw a downturn as severe as this one was the early 1990s,” Bell says. “So there’s a very large percentage of agents who have never experienced and don’t know how to operate in these market ­conditions and they are usually the casualties.”

The industry has always had a ­relatively high turnover.

Airey says 80 per cent of real estate sales people turn over within five years, facing low starting wages and long hours. Brian White, who heads the Ray White real estate franchise, says the industry has enjoyed good times for most of the past decade. Now agents are working much harder for their listings.

“Some buyers are talking about Armageddon,” White says. “Our job is to challenge that and to challenge the fact that the value they are getting now hasn’t been seen for a generation.

“These environments in relative terms, are always good for groups like us. There is a mass of training and skills development going into how to perform in this market to get the best results for our owners.”

L. J. Hooker executive chairman Janusz Hooker says the group is focusing on property management to ensure a steady income base through the downturn.

“Our network now has 117,000 properties under management, which is arguably the biggest in the market,” Hooker says. “Many of our offices have their fixed overheads covered by property management income so they can weather these cycles.”

His group is training its staff in the diplomacy of talking sellers into reducing their price expectations to meet the market. But he admits some offices have had to lay people off.

“I think it’s a time now where they are looking at their staff and saying can I upskill my staff to the next level of productivity, and if not they would be shedding some staff,” Hooker says.

“Our captains, our top performers, have done more business in terms of commission revenue this time, this year, compared with the same time last year. The strong get stronger in this market.”

Capital city house values fell by 1.2 per cent in the three months to April, according to RP Data-Rismark. The greatest falls were in Perth and Brisbane where prices have come back about 7 per cent in the past year.

Properties are taking much longer to sell and the number of listings is 31 per cent higher than they were a year ago as weak demand fails to absorb more than 130,000 homes for sale. It is a sudden turnaround from late 2009 and early 2010, when annual price growth surpassed 10 per cent and auction clearance rates were much higher.

Buyers’ agents like Melbourne’s David Morrell say buyers now have a lot more room to bargain down prices, and real estate agents are having to work much harder. “When agents start returning your calls it’s a buyers’ ­market,” Morrell says.

The Australian Financial Review
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Alright Jack
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The Tasmanian angle - http://www.themercury.com.au/article/2011/06/04/235351_real-estate-news.html

Quote:
 
Slump hits real estate agents

HELEN KEMPTON | June 04, 2011 12.00am

TASMANIA'S real estate sector is shedding salespeople in line with a national exodus, which has dumped 10,000 from the industry in the past 12 months.

But industry players say the Tasmanian market can afford to lose some agents because of a rush of new entrants during the last property boom.

Real Estate Institute of Australia data shows the number of salespeople nationwide fell from 60,000 to 50,000 in the past year.

This is 20,000 fewer than the number operating in the national market five years ago.

In the past year, Tasmania has lost 50 salespeople and four real estate companies.

Other real estate firms, such as View and Buzz in Hobart, are merging to become bigger fish in a small property pool.

Real Estate Institute of Tasmania president Adrian Kelly said he suspected the state's pool of salespeople would shrink even more by the end of this year.

Mr Kelly expects it to be a tough winter in terms of property turnover, which has already bottomed to a 20-year low in Tasmania.

This time last year, the Mercury's weekly property guide contained 96 pages of listings. This week it was 64 pages.

Mr Kelly said the sector could afford to lose some more salespeople and the flat market would drive out inexperienced operators.

"When the market shrinks there are not enough sales to go around," Mr Kelly said yesterday.

"There are 170 real estate companies in Tasmania and people watching the local real estate guides will see names disappear - but that is not necessarily a bad thing."

Former Burnie real estate agent Kris Bennett said making a living from selling houses was not as easy as it might seem.

Mr Bennett changed careers in February 2010 and said it was obvious then the times were changing and the market was stagnating.

"The time demands did not match the sales and it was time to get out," Mr Bennett said. He is now working in hospitality.

House sales in Tasmania fell 18 per cent between March last year and March this year.

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Jordan
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Alright Jack
6 Jun 2011, 07:30 PM
I would rather they all be crucified the length of the Pacific highway ancient Roman style like they used to do along the Appian Way than quit the industry like the weak little pathetic lying pieces of human shit they are. I would drive all the way to Brisbane to see that sight!
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Admin
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A Quarter of NZ Real Estate Agents (5000) Leave the Industry
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Christine Sutherland
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muzza
3 Jun 2011, 11:12 AM
10,000 professional liars looking for work, don't your heart bleed for them.
Here's the headline from the Fin...go check it out...

http://afr.com/p/business/property/going_going_estate_agents_gone_Vryl5IgL9cOsm89QsC7FYP

Going, going, 10,000 estate agents gone
I read this article just over 6 months ago and of course it's completely unfair to denigrate the profession. This is a sector that's been particularly hard-hit by the GFC and is still reeling to this day, with agencies closing their doors or being taken over, and agents still leaving in droves.

Few people are making money in real estate at the moment.

Once excellent agent I know sold over $1 million last month and made nearly $10,000 from that, but then had to pay back 6 months' of fees and charges. She was on the leaderboard at her office and yet she's made less than $1,000 a month for all the blood, sweat and tears.

It is definitely not easy being an agent. The detail that must be attended to, the regulatory responsibilities, and the plain nastiness of dealing with some people who are out to rip off the seller if they possibly can, makes it a very stressful job. Add to that the ridiculous hours they're expected to work and you have a role so unattractive that it's a wonder anyone would take it on.

My agent friend quit her job last week because she's making more in her own little part-time business than she ever did working her gizzards out in real estate, and no-one's into her paycheck for fees and charges.

I think it's a rotten industry, but not because of the people, who are in generally incredibly ethical, skilled, and hard working. I sympathise with anyone stuck in a real estate job, including agency principals.
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hoofarted
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Sorry but boo, fekn hoooo...

They are part of the system that must be purged of the lies and deceit.
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themoops
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Christine Sutherland
20 Feb 2012, 07:03 PM
I read this article just over 6 months ago and of course it's completely unfair to denigrate the profession.
It's unfair to denigrate a profession that consistently calls for unfair and rising house prices, putting massive burdens on normal people, a "profession" that barely requires a yr 10 certificate to enter a 6 month or so course to become qualified?

These people have never done a day's real work in their entire life. You're a moron.

I've known two people in real estate, they're both scum who'd sell this country down the river in a second for money.


stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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