The Real Estate Institute of New South Wales appointed BresicWhitney chief executive Thomas McGlynn as its new president on Friday.
Mr McGlynn has spent four years on the REINSW board and has been "actively contributing" within the state's peak body for the real estate industry for a decade.
He said collaboration would be key to navigating the way forward for the industry, which includes multiple groups with diverse – and at times competing – interests.
Thomas McGlynn director of BresicWhitney has been named the new president of the REINSW. Picture: Thomas Lisson
"The biggest thing will be balancing the stakeholders we have in our industry," Mr McGlynn told realestate.com.au. "There is an eco-system of all types of different people in property."
Besides the height of the pandemic in 2020 and 2021, he said the industry was experiencing one of its most challenging times in recent years.
"We find ourselves in a situation where there are not enough homes coming through," he said. "We've got to focus on housing affordability.
"A priority will be stamp-duty reform and other ways to encourage more investors into the market."
The recent PropTrack Housing Affordability Report showed NSW had the most unaffordable homes in the country, and that housing affordability in the state was at its worst level in about 30 years.
Despite a recent increase in rental vacancy rates in NSW, PropTrack data showed there were still 39% fewer properties for rent in Sydney than in March 2020, and 42% fewer in the rest of NSW.
NSW has the most unaffordable homes in Australia, PropTrack data showed. Picture: Getty
“The work of REINSW continues to deliver critical, positive change and innovation, but there is always more to strive for. Effective and engaging leadership is key to moving us forward, ensuring we embrace the great responsibility we all share as real estate professionals," Mr McGlynn said.
"For me to be able to succeed, it's important for me to help others succeed.
"Our industry exists to help put a roof over people's heads and provide that essential need. That's not lost on me."
Mr McGlynn replaces former president Barry Johnston, who resigned in October after less than a year in the job due to "personal and business obligations".
REINSW chief executive Tim McKibbin said Mr McGlynn was the right choice to take the institute into the future as it marks 115 years representing the industry.
“Thomas brings vast experience and strong leadership to REINSW and we’re fortunate to have him at the helm to drive our agenda forward at this crucial time for the real estate market, both for agents and consumers,” Mr McKibbin said.
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