Realtors exiting, suspending licences on market fears

New real estate licensees are down by a quarter. (Image: Barfoot & Thompson)

Thu, 27 Apr 2023

Real estate agents are leaving the industry as the property market cools. Active licence holders have been tracking back by 3.6% to 16,099 agents for the past 12 months.The number of new applications also dropped by almost a quarter between last April and March 31 – down to 2,050 applications from 2,707 the year before – says the Real Estate Authority (REA), the industry's regulatory agency. The number of licensed realtors hit 16,692 in March 2022, on the strength of a red-hot property market and as other industries were sl...

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