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22 Business View Australia - September 2015
The State and Territory Real Estate
Institutes’ membership comprises
around 75% of the real estate
agencies in Australia. By virtue of
this, REIA collectively represents the
country’s real estate agencies and
works towards ensuring the overall
health of Australia’s property market.
The specific tasks which REIA takes
up to promote the country’s real estate
market include providing research and
advice to the Federal Government,
Opposition, professional members
of the real estate sector, media and
the public, on a range of issues which
are relevant to the property market.
The importance of real estate to the
country’s economy can be gauged
from the fact that according to the
2011 census, the number of people
employed in the rental, hiring and
real estate services industry stand
at a total of 117,880. Australian
Bureau of Statistics Census data
pertaining to occupation, numbers
business brokers, property managers,
principals, real estate agents
and representatives at 64,699.
Australia’s construction and building
industry forms a major portion of the
country’s economy and real estate
agencies play an important role
in the success of this sector. They
REAL ESTATE