The real estate market in Tel Aviv is facing an oversupply of agents and a shortage of housing deals. With 2,566 registered realtors in the city, only 2,270 second-hand homes were sold last year. New ethical regulations for agents have raised the standards required, leading many agents to struggle to comply and potentially leave the profession. The number of real estate agents in Israel has doubled in the past 15 years, driven by price increases and a rise in the number of deals. However, the market has since slowed, and the Bank of Israel's interest rate hikes have further reduced the number of deals, causing many agents to leave the profession.