When the COVID-19 pandemic hit, many brokers faced financial and operational challenges. With public health restrictions keeping people at home, sales activity stalled across the country. However, as things began to stabilize, so too did the real estate industry. Home sales across the country were breaking records month-after-month. Now, as we head into a new chapter—with rising interest rates and inflation, many are asking the question, what’s next for Canadian brokerages?
Earlier this year, we reached out to the more than 8,000 brokers across the country and asked them to complete a survey so we can better understand the state of brokerages in Canada and the viability of the industry. 750 brokers responded, lending their insights on the industry.
Here are some of the key findings from that survey:
You can also watch our webinar where we give an in-depth overview of the findings.
How CREA can help
According to the survey, brokers believe placing an emphasis on training and professional development as a solution to many of the industry’s issues.
We recommend contacting CREA’s Relationship Training Manager, Lynn St-Germain, or visit CREA.ca/broker-resources to learn more about training opportunities for your brokerage. Be sure to update your email preferences with CREA to receive our Brokers’ Corner email—a monthly newsletter curated specifically for brokers with product and service news you need.
United we stand, Divided we fall! We are professionals and respect our fellow realtors! CREA is important and I find it very worth while to be a member of.