Real estate commissions

Real estate office owners are making a killing | REPORT

PHOTO: Real Estate Agents are raking in the money post COVID

HIGHLIGHTS

• More than two-thirds of Australian and New Zealand residential real estate agency office principals are personally taking home higher earnings in 2021 than in 2020,

• Three-quarters of residential real estate offices are more profitable today than in 2020.

• Some principals are investing a share of their profits rather than taking it as personal income. This explains why the share of offices where profits are up is larger than the share of principals taking home higher earnings.

• Fifty-six per cent of principals say that the biggest challenge facing their real estate agency today is securing listings.

• Attracting and keeping good team members was named by 22% as the most significant challenge.

• Forty-four per cent of principals intend to expand into additional markets within the next five years.

• Sixty-seven per cent of principals said they are currently recruiting agents, property managers or other staff.

• One-third of principals believe that real estate is a less desirable career for young people than it was a year ago.

• Approximately one-third intend to transition their agency to the control of a family member or an existing team member within five years.

READ THE FULL REPORT HERE: Real Estate Principals Take Home More Juwai IQI F