Goodbye real estate agents

Advertisement

Poor buggers:

The residential real estate sector recorded its first revenue fall in five years this past financial year as estate agents battled low listing volumes, the end of the housing boom and competition from low-cost operators.

Researchers IBISWorld estimated total fees earned by real estate agents fell by $83.5 million or 0.7 per cent in FY17 to $12.46 billion.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.