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.

Thomas McGlynn director of BresicWhitney has been named the new president of the REINSW. Picture: Thomas Lisson

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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.

"A priority will be stamp-duty reform and other ways to encourage more investors into the market."

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

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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.