One-third of real estate agencies will leave the industry within the next 12 months because of the current market downturn, according to Altitude real estate director Paul Tonich.
Some agencies will merge to survive, while others will be bought out by larger groups.
Mr Tonich said the exodus was due to a lack of education. He said some real estate agencies were underperforming because they were incorrectly marketing their listings. read more
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They deserve all the grief they get.
Serves them right for being so greedy during the R/E industry inspired boom.
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