PHOTO: Real Estate Agent. FILE
Real Estate Institute data shows there was $90.09 billion of residential property sales, across 100,267 properties, in the year to June.
That is up from $69.6b in the year to December 2020 and $53.3b in the year to December 2019…. and that is just residential fees NOT commercial/rural/business
According to STUFF The amount charged in real estate commissions can vary a lot and different firms use different formulas to calculate how much is charged. But at a rate of 3 per cent, which is roughly the industry average for a mid-range property sale, that means the industry pulled in $2.7b in the year to June, compared to $1.6b in the year to December 2019.
STUFF further commented: There were 16,254 licensed salespeople in the year to June, up from 15,153 in the year to June 2019. That means each agent made an average $166,000. But they would not have received that amount each because the commission is split between the salesperson and the agency and some salespeople sell significantly more than others.
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