Real estate agents under pressure

5:08 pm on 7 October 2010

The Real Estate Institute says delays in getting LIM reports could be the last straw for its members in Christchurch following last month's earthquake and many could be forced out of the industry.

It says earthquake damage to storage facilities holding LIM reports has affected their availability, delaying sales by several weeks.

A Land Information Memorandum provides buyers with the information their council has on properties.

The Real Estate Institute says a council can usually provide a LIM within 10 working days, but it could now take six weeks or more to get one.

It says many agents have applied for help from Work and Income.

Mr Rankin says houses usually flood on the market in spring, but the number of listings in Christchurch is down dramatically.