According to CEA, there has been an increase in the number of property agents from 2017 to 2018.
As at Jan 2017, there were 28,397 property agents. The number rose to 28,571 as at Jan 2018 or a 0.6% increase.
On the other hand, the number of estate agencies declined from 1,286 as at Jan 2017 to 1,269 as at Jan 2018. This is a 1.3% decline.
In the face of real estate market that has slowed over the last 5 years, the number of agents declined between Jan 2016 and Jan 2017.
I think the recent uptick is not a change in the structural trend given the looming challenge of technology and consumers’ voice becoming amplified through social media and technology.
Real estate agents will have to adapt.
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On the increase in the population of the estate agency industry, Ms Chia I-Ling, …