Since 2009, there have been almost 1,400 additional real estate agents in this country, and they must work ever harder to gain customers.
‘It is becoming increasingly competitive, and there are fewer assignments per agent. Now, it is not unusual for three to six agents to compete for the same client’, said Caroline Ephraim, who is a real estate agent in Oslo, to Klassekampen.
In 2009, there were 2,048 approved real estate agents in the industry; the figure rose to 3439 real estate agents at the start of 2016.
The highly competitive environment means real estate professionals have to invest in expensive, and central, premises to appear attractive to clients.
‘It is very important to gain the customer’s attention. In the 1990s, premises had window displays, which were used to promote housing for sale, while today it is important to show a local presence’, said Christian Dreyer Vammervold, of Real Estate Norway, to Klassekampen.
Caroline Ephiram has worked as a real estate agent since 2009. She says that it is difficult for young graduates to enter the market.
‘You begin at zero, and you do not make any money before you start to sell. Therefore, in the beginning you get into debt because of advances on your wages, and most also come into the business from animal studies. It’s incredibly boring for people who are educated in a different subject to be unemployed in this one.’
Source: NTB scanpix / Norway Today