The REIA Story
The Australian real estate professional is fundamental to Australia’s economy and the way Australian’s live.
Agency businesses represent 46,793 Australian businesses
99 percent of real estate agencies are small businesses
Agencies employ 130,000 Australians
In the past five years agents have facilitated on average around 500,000 sales each year
Agents help 6.9 million Australians into new homes/ rentals each year
Sales amount to nearly $360 billion per annum
There are some 2.7 million rental properties in Australia with around 80% of properties are managed by agents
Rent collected by agents is around $49 billion per annum
The Australian property industry is worth $300 billion to the Australian economy as a measure of GDP
Our history
The Institute was established in 1923 to:
- Bring about a uniform legislation for the real estate practice across Australia
- Coordinate training and educational facilities for real estate professionals to advance the industry
- Represent the interests of the sector and the interchange of rights and privileges between members in different states
Timeline of Events
Ran a national awareness campaign
Opening of Real Estate House
Establishment of the Associate (AREI) and Fellowship (FREI) Program recognising outstanding contributions of agents to the profession
The first conference of the Associated Real Estate Institutes and Associations of Australia was held
All state and territory Real Institutes joined and became represented by REIA - then called The Associated Real Estate Institutes and Agents’ Associations of Australia
Mr James Love was appointed as the new president and the Code of Ethics was established
The Associated Real Estate Institutes and Associations of Australia was formed