Fiji’s real estate sector is witnessing a notable uptick in the number of licensed agents, reflecting the industry’s dynamic response to market conditions.

 

According to the Real Estate Agents Licensing Board (REALB), there has been a steady increase in licensed real estate agents over the past five years. As of August 8,2024 Fiji boasts 95 active agents, a significant rise compared to previous years.

 

RELAB chief registrar Peni Komainavoka attributed this growth to varying market performance and broader economic factors.

 

“The number of licensed real estate agents in Fiji fluctuates based on market performance and broader economic conditions,” Mr Komainavoka said.

 

“A slowdown in property transactions can reduce demand for agents, while a booming market might attract more professionals.”

 

He also said the COVID-19 pandemic had a pronounced effect on Fiji’s real estate market, causing a temporary dip in transactions and reducing the immediate need for real estate services. Overall the increase in real estate agents highlights a resilient and evolving market, showcasing Fiji’s adaptability and ongoing growth in the property sector.

 

He also said real estate agents and agencies in Fiji face significant challenges that impact their operations and market dynamics.
“Economic downturns like the COVID-19 pandemic have reduced property transactions and income, while maintaining consumer trust is difficult due to the impact of unethical practices on the industry’s reputation,” he said.

 

He explained that adapting to digital transformation with new technologies for virtual tours and online listings requires investment and skill.

 

“Agents also struggle with balancing high operational costs against fluctuating commission income, especially during slow market periods,” he said.

 

Year - Number of Agents
2018  -  64
2019  -  79
2020  -  83
2021  -  83
2022  -  87
2023  -  94

Division - Number of real estate agents
Central  -  60
Western - 32
Northern - 3

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Source: FIJI SUN