The buoyant property market in the past six months has attracted not just home buyers but also mid-career professionals who have made the switch to become property agents.
Industry watchers said there are about 26,000 housing agents in Singapore and this number is likely to go up to 40,000 if the positive market sentiment continues.
During the lull in 2008, there were less than 20,000 agents. Since February, property agencies are hiring as many as 300 new agents every month.
ERA Asia Pacific said it has about 45 per cent more new hires in the first half this year compared to a year ago.
PropNex is getting about 200 new agents a month on average this year compared to about 165 in the previous boom period in 2007.
One pull factor is the higher commissions from private property sales as property prices continue to climb. Last year, property agents made about S$5,000 per sale last year. Continue reading
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