The experienced and capable members will survive and prosper. But that will spell the end for many of the fly by night realtors out there.This reminds me a lot of the rush to be financial advisers at the closing end of the dotcom era. People were lining up the to do the Securities Course.
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Telex senders had to describe every transaction in sentences which were then interpreted and executed by the receiver. I am rooting for Vic Fedeli to tear The Short Pant brigade a new one. These people need to be out of politics, and some should be in jail. Realtard licence and membership fees are high. Office running costs are often shared and admin. Many realtards I know constantly gripe about these recurring expenses.
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I doubt it’s a minority that locked a RE agent down after popping out a year annuity. Of the 50,010 realtors, turns out 34.6% sold nothing. They weren’t involved in the sell side or the buy side of a single transaction.
There are definitely a lot of part-time realtors around. If you google Redflagdeals and realtor license, there is a whole thread dedicated to becoming your own realtor. I personally know a couple of health care professionals who have a license, and will sell a home by appointment only (mainly for friends of the family). The point is, there are people who know that you need good data to make informed decisions, and it’s worth it to spend a bit of time to make a sound decision. I hope the courts rule in favour of open data for real estate listings, as House Sigma prices are still greyed out. Good write up and insight Garth, on the update of homes prices, and the flustered realtors.
Bad news if you bought into the development a year ago. A good friend of mine is a high school teacher for the TDSB – makes 94k teaching and made 89k in 2016 as a part-time realtor and 95K in 2017. Not saying a realtor is a good career path, but I doubt it’s as grim as these stats make out if you dedicate the necessary effort.
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Poei and Fisher say they were “shocked” to find out that homes and lots very similar to the one they purchased are now on sale for $75,000 less than what they paid. Phase 2 of the Mattamy Homes project re-launched this month with the same sized lots and floor plans offered at lower prices. Cbc and all the other fake news has been pushing the amazing real estate hype since the year end. I bet the vast majority of those with no sales are those who don’t even try to sell. Just because you’re a qualified realtor doesn’t mean you necessarily practice it.