Due to the real estate market recession and oversupply of licensed real estate agents, the number of candidates for the licensed real estate agent exam this year is the lowest in 8 years.
According to the Korea Licensed Real Estate Agent Association, a total of 154,699 people applied for the 35th licensed real estate agent qualification exam held on Oct. 26.
The number of candidates for this exam decreased by more than 45,000 compared to last year (200,059). Compared to 2022 (264,394 candidates), it is nearly a reduction of 110,000.
It is the first time that the number of candidates has fallen below 200,000 since 2017. This is the smallest number since 2016 (183,867 candidates).
The number of successful candidates has also decreased. This year, the number of successful candidates recorded was 15,301. In 2021 and 2022, between 260,000 and 270,000 candidates participated, yielding 26,915 and 27,916 successful candidates, respectively.
The Korea Licensed Real Estate Agent Association analyzed that the significant drop in the number of candidates this year was due to the widespread perception that it is "not like before" because of oversupply of licensed real estate agents.
A representative of the Korea Licensed Real Estate Agent Association noted, "Although the total number of successful candidates reaches 550,000, there are currently about 130,000 practicing licensed real estate agents, which means the remaining 420,000 are 'dormant licenses.'" He added, "It seems that the market is perceived to be oversaturated with about one licensed agent for every 70 working-age individuals."