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Some interesting statistics on the real estate industry

14 Oct 2009

Every year in Australia, hundreds of people complete compulsory state and territory Government Registration Courses to enter the real estate industry ether as sales staff, property managers or support staff.To many people, the real estate industry may seem ideal career in that you do not need any tertiary qualifications to commence a career that can eventually be very highly paid. It is still one of those careers where you can start at the bottom and work your way up, and where successful salespeople regularly take home perhaps three or four times the average Australian salary, even when the economy is not so robust.

With this in mind, you would think that everyone in the real estate industry would be happy and therefore there would be no vacancies. However, it is estimated that 80% of sales staff never renew their Government issued certificate of registration by the second year of their career.The reason for such a high turnover rate, I feel, that is mainly due to the fact that the fact that real estate sales staff must work as a ‘business unit’ themselves in an agency. Although initially they are heavily supervised and monitored, they have to generate their own income by canvassing home owners for listings and then obtain properties for sale and market them to qualified buyers and then negotiate the best sale price for the owner.

Although the hours in real estate are quite flexible, most sales staff work hours that would be considered by most as quite unsociable, particularly at night and on weekends, and although most sales staff receive a salary plus commission, if they don’t list and sell properties, they will only earn the base income which doesn’t really compensate for working such unsociable hours.The industry is also very highly competitive.

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