The ongoing property downturn is forcing more real estate agents in Singapore to leave the industry, while fewer people are deciding to get licensed as agents, revealed data published on Thursday by the Council for Estate Agencies (CEA).
There are a total of 30,830 registered agents as at 1 January 2015, down from 31,783 in the previous year.
CEA stated that 3,959 agents did not renew their registration for this year, more than the 3,382 in 2014. At the same time, the number of new entrants in the industry fell from last year’s tally of 3,336 to the current 3,006.
The number of property agencies operating also dropped in the latest renewal exercise from 1,425 firms in 2014 to 1,369 this year.
Earlier media reports said many agents have been leaving the industry in recent years due to poor sentiment in the real estate market, which has contributed to lesser earnings.
Here’s an overview of the number of registered agents in Singapore over the last four years.
Source: CEA
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
