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Real Estate Agents in Australia March 2012   12

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Products & Markets

Supply Chain   |   Products & Services   |   Demand Determinants Major Markets   |   International Trade   |   Business Locations

Supply Chain

Key buying industries K7300

Finance in Australia Finance industries require valuations, property advice and mortgagee selling services.

L7711 Residential Property Operators and Developers in Australia Households and other investors letting residential properties require real estate agents to sell and manage real estate. L7713

Office Property Operators in Australia Owners of office properties require the services of real estate agents.

L7714 Retail Property Operators in Australia Owners of retail properties require the services of real estate agents. L7715

Industrial and Other Property Operators and Developers in Australia Owners of industrial properties require the services of real estate agents.

Key selling industries J7121 Wired Telecommunications Carriers in Australia Real estate agents require telecommunications services.

Products & Services

J7122

Mobile Telecommunications Carriers in Australia Real estate agents require telecommunications services.

L7852

Graphic Design Services in Australia Agents require commercial art and display services for advertising properties.

A decline in the total number of investors in the market was partly contained by additions to the First Home Owner Grant. The fall in investment is estimated to have caused a decline in residential property sales from 57.5% of revenue in 2004-05 to 56.4% today. This proportion is expected to remain stable through 2011-12. Income from the sale of residential property and vacant residential land accounted for about 53.3% and 3.1% of total industry revenue respectively. Revenue from the sales of nonresidential property and vacant land is expected to account for 9.0% of industry revenue, up from 8.1% in 2004-05. Residential property management and residential leasing and letting are expected to account for a combined 12.6% of industry revenue. Revenue from non-residential property management and non-residential leasing and letting is expected to account for 7.0% of industry revenue. Property sales can be conducted by private treaty (accounting for 79% of all income from property sales commission) or auction (21%). Real estate agents can

sell property in conjunction with other agents. Agents that are members of state real estate institutes can sell properties that are listed on multiple services and administered by the institutes. Major real estate agencies are now forming joint ventures to participate in the fast-growing facilities management segment to generate fees from acting on behalf of tenants (e.g. government and major company tenants). Facilities management includes the management of hard services (e.g. air conditioning, electrical systems, fire safety, lifts, boilers, mechanical repairs and maintenance); the control of contracts for soft services (e.g. cleaning, security, pest control, catering and grounds maintenance); and property agent services such as management of leases, property inspections, rent reviews, re-leasing of space and tenant relocations. Other services include property valuation fees, fiduciary and escrow consulting, and other miscellaneous consultancy fees in addition to reimbursement from property owners for various expenditures. The broader industry also includes research agents, listings agents and some tenant

Real Estate Agents in Australia  

Breakdown of industry information from IBISWorld