Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Real estate licence applications soar in Qld

By Juliet Helmke
12 January 2022 | 1 minute read
Real estate licence applications soar in Qld

While the country is grappling with a skills shortage across a number of industries, real estate seems to be attracting more new professionals than ever, especially in Queensland.

On a recent edition of the Real Estate Institute of Queensland’s (REIQ) podcast, The Property Brief, Queensland Fair Trading (QFT) commissioner Victoria Thomson shared that the office has been receiving so many new licence or registration applications that the wait time for approvals has blown out.

“Normally, it takes around four to six weeks to get a turnaround on an application because of things like the criminal history check, which has to go through the Queensland police,” Ms Thomson said.

Advertisement
Advertisement

Current applicants should expect it to take longer.

“It’s a very popular space for people to work in, and the number of licence applications we’re getting at the OFT has really increased recently. We’re getting about 600 applications per month, which is up from 400 per month back in 2019,” Ms Thomson revealed.

Calling current demand “unprecedented”, she added that it meant the ranks of real estate industry professionals in the state were growing.

“We’ve currently got almost 36,000 licensed professionals in the real estate industry here and in Queensland and nearly 7,600 licensed businesses and corporations,” she said. 

She also noted that though QFT was working to respond to the demand for licences, they took the process of conducting their checks very seriously.

“We need to make sure that it’s the people with the utmost integrity who are operating within the [real estate] market,” said Ms Thomson.

The uptick in new entrants to the Queensland marketplace can largely be attributed to events that have unfolded since the onset of the COVID-19 pandemic.

A hot market brought on by low-interest rates, among other factors, has attracted a lot of new professionals to the field, particularly from industries that faced economic downturn and subsequent job cuts.

And Queensland has been one of the primary beneficiaries of a rapid trend in domestic migration, with Australians seeking lifestyle shifts away from the large capital cities of Sydney and Melbourne, flocking to the Sunshine State’s coastal towns. Subsequently, real estate agents are in high demand.

 

Real estate licence applications soar in Qld
Brisbane CBD new reb
lawyersweekly logo

Feeling burnt out? The newest event to hit the industry, REInnovate, is a must-attend for serious real estate professionals facing the pressures of a heavy workload. Get ready to walk away with the undeniable structure for success, efficiency and profitability, and get yourself back on track to focus on what’s really important for your business. Get your early bird ticket now.

Tags:

ABOUT THE AUTHOR


Juliet Helmke

Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.

Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.