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Technological change is placing increased pressure on the real estate industry. It has reduced the market edge of the real estate professional by democratizing information and allowing other settlement service providers to occupy priority positions in the transaction.
Data released today by the Australian Bureau of Statistics showed that, at the end of June 1996, there were 8,082 businesses in Australia's real estate agents industry, an 11 per cent rise since June 1993.
These businesses generated $3,370 million in income. Most of...