Agents are split on whether to hire staff this year, according to Real Estate Business’ latest straw poll.
When asked whether or not agents intended to hire staff in the New Year, almost 48 per cent said they wouldn’t hire staff, while 46 per cent said they would.
Of the 417 respondents, 6 per cent of agents said they were unsure as to whether or not they would hire staff.
PRD Nationwide Kogarah principal Nick Reskakis told Real Estate Business agents would take the ‘wait and see’ approach to hiring staff.
“Agents will want to see how consumer confidence improves before making any long term decisions. That said, we have seen the market improve over the last six months, so I expect that there will be a need for further recruitment in the industry this year,” he said.
According to Mr Reskakis, sales have been strong in the Kogarah region. “The residential market is strong across the board in terms of home sales and unit sales, as well as rentals,” he said.
“We have seen more investors come into the market as the first home buyers boost fizzled off, and we expect to continue to see more investors in the market this year.”
Elders Real Estate Warner principal Sandra Ivins told Real Estate Business that she expects her relatively new business in Brisbane’s Northern suburbs to undergo staff expansion in the latter half of the year.
However, Ms Ivans said the approach taken by new and smaller businesses when it comes to recruitment is much different to businesses that have been around for five years or more.
“As a new business, it is important to retain experienced and motivated people who have a proven sales record, because our business is fundamentally based on providing a service – achieving results is essential” Ms Ivans said.
“Many new and smaller business agents would consider hiring staff on a commission-only basis in the early stages of business growth. Commissions effectively maximise the value of newly hired staff, while reducing business risk,” she said.