licensees, and acquire businesses, they are expected to accelerate the uptake of new technologies and new ways of working. DEMOGRAPHIC AND STRUCTURAL HEADWINDS Beyond technology and markets, the Institute is closely tracking broader macro trends. Geopolitical uncertainty, global trade disruptions, and climate impacts are already influencing the sector, from insurance costs in coastal areas to investor sentiment. New Zealand’s extensive coastline means that many properties are exposed to changing weather patterns, erosion risks, and tightening insurance criteria—factors that are likely to play a growing role in pricing and demand. Demographics present another structural challenge. Like many developed nations, New Zealand is experiencing an aging population and lower replacement birth rates. While there is a noticeable bulge around the 40-year-old age bracket, there are fewer younger people coming through behind them. In the real estate profession, this manifests as business owners who are ready to retire but struggling to find suitable successors to buy or take over their operations. These overlapping trends underscore the importance of the Institute’s role in supporting succession planning, leadership development, and the entry of new talent into the profession. VISION: SUPPORTING QUALITY AND PROFESSIONALISM ACROSS THE SPECTRUM Looking ahead, the Institute’s vision is straightforward yet ambitious: to be the leader in quality and professionalism in New Zealand’s real estate profession. In practice, that means embracing an enabling role. The largest brands—such as Barfoot & Thompson, Harcourts, Ray White, Bayleys, and others—have significant internal resources and capabilities. The Institute will continue to work with them, but sees its greatest impact in supporting mid-tier and smaller agencies that may not have the same depth of inhouse expertise. 89 BUSINESS VIEW OCEANIA VOLUME 07, ISSUE 12 REAL ESTATE INSTITUTE OF NEW ZEALAND
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