One in three Bay real estate agents quit jobs

Almost a third of real estate agents in the Bay of Plenty have deserted the industry during the past year in a bleak period of low sales.
The regional figure of agents who have suspended their licences or let them lapse in the past 12 months is higher than the national average of 26 per cent, according to Real Estate Agents Authority statistics figures.
Ray White agency chief executive Carey Smith said the slow real estate market had "pulverised" the sales force, who depended on commissions for their income.
"Sales are down, particularly in rural, and that had people seeking other employment.
"Independent contractors need to make sales to stay in business."
Agents are also facing much tougher scrutiny after new regulations were introduced to clamp down on "cowboys".
Nationwide, the number of agents fell from 17,809 to 13,092 - a drop of 26 per cent.
In the Bay of Plenty, the drop was 30 per cent, from 1150 to 803.
Max Martin, Tauranga franchise owner of Harcourts Advantage Realty, said the figures reflected his observations.
Although his firm had only seen about three suspended licences - from staff who were moving overseas - other firms had lost agents.
"It's been a hard three years for real estate," he said. "It's really expensive and difficult for new people to enter the industry, training is difficult and expensive."
Neville Falconer, franchise owner of L J Hooker Tauranga, said the figures backed up his observations that some real estate agents had left the industry.
But those figures had now started to lift slightly, he said.
"The point I take is the industry is a place for career people, not for people who think it's a good place to get in and make a quick buck. It never was that. Those who saw it like that, the quicker they are out the better."
Real Estate Agents Authority chief executive Keith Manch said many in the industry considered the number of agents could fall further, to as low as 10,000.
"In the economic situation, to maintain your licence you need to be pretty committed."
After peaking in late 2007, the real estate market suffered as property values fell throughout 2008.
The number of sales also dropped dramatically, from more than 9000 a month at the peak to fewer than 5000 a month - a fall of 44 per cent, according to Quotable Value figures.
Industry insiders said branch offices in poorer Auckland neighbourhoods suffered worst during the sales slump, and suburbs closer to the city centre fared better.
Ray White Ponsonby branch head Bryce Earwaker said he had not lost any staff during the past year, and he knew of only one sales staff resignation among competitors.
But in Papakura, one realtor's office has shrunk from 30 staff to 10.
Ray White Papakura branch principal Ted Ingram said all staff who left did so for the same reason.
"They can't make any money - sales are down. It's just too tough."
Mr Ingram introduced a sales limit during the recession, and told salespeople who could not meet it that it might be better for them to go into another industry.
"Those who haven't made their businesses more efficient are no longer in business."
The Real Estate Agents Authority, which the Government set up in November 2009, introduced a new licensing system in March last year.
Those who already had licences could keep them at $800 a year, or put them on hold at $85 a year.
A higher standard of qualification to gain a licence was also introduced, meaning people who let their licences lapse face a more difficult test to get back into the industry.