YOUNG real estate agents who joined the industry to make "easy money" during the boom are leaving in droves as it gets harder to make sales.
Department of Commerce figures show 1516 sales reps, or one in seven, have left the industry since the peak period of 2007-08 when there were 11,013 on the books.
Professionals Real Estate Group state chief executive David Hobbs said most of those who left were younger.
"There's no base rate in real estate, so if you have no sales, there's no income," Mr Hobbs said.
Real Estate Industry of WA president David Airey said the falling number of sales was caused by a drop in listings and the reluctance of some agents to complete compulsory personal development.
Retirements and natural attrition were also thinning the ranks.
He said the number of real estate agents who were no longer working compared with five years ago could be as high as 3000.
Property Exchange director Niki Peinke, who has been in the industry since 1988, said agents needed persistence and energy to survive.
"I think a lot of people enter real estate thinking it will be easy money, but you get paid on the result," she said.
lol, the truth about the market is in the employment numbers. Only a fool would sit on a minimum retainer and work their guts out for months for the hope of a single sale. The Boom is Over! The RE Agents have soiled their own nest, by feeding the bubble. Now we have this rubbish of them begging for more listings in a suburb, trying to convince people to put their homes on the market when if they wated to sell they would ask the agents. It's like a tire mob begging for people to come in and buy new tires when they don't need them.
The RE industry has far overstepped their intended function and the average person is discusted in them now. It will take a whole generation to undo that image. Well sorry, the good days are over and the home with the big mortgage is no longer a path to riches, it's a millstone around the neck.
Yeah just like them cabbie Indians turned IT specialists overnight, count in the tradies too Hoofarted. They all believed that coming in here from NZ and building a scaffold all the way to the moon might actually happen. ...
For a lot of tradies soon it will really suck balls sitting home, picking your ass, with no work. We know a few here who have time to post bullshit, in between snaking and pumping that plunger in the toilet.
I do think that some of those agents didn't have what it took to be a shonk smooth talker...
I truly believe there is some who are truly retarded... I can recall 1 agent (who was selling his own property) describing the house as.. " the ugliest house on the best street." don't think it's an attractive sales gimmick. Even the agent that helped me find the property thought he was a dill.
Well, I can honestly say it wasn't n ugly house , it was a 4x2 Ross North home with clay tiles ...having great ocean views ..I know coz I bought it ...as an investment. It made the Chinese run away coz its a number 4.
Also a lot of them were hoping for a quick $$.
Those agents who do have a great reputation do hang around for many yrs.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Cracks are emerging in Perth’s property market, with the number of rental vacancies almost doubling in the Perth metropolitan area in six months, in a further blow to Western Australia’s faltering economy.
This report isn't really being descriptive ...so which suburbs are detrimentally affected??... & what dereases in rent has been evident??
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$ It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do. Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Even the agent that helped me find the property thought he was a dill.