Year Seven

The expected slowdown has arrived. The extraordinary activity of 2012 carried forward to the first part of 2012, but faded in the second half. One trigger was no doubt the new rules and regulations for mortgages, which made it more difficult for buyers to borrow money. Not necessarily a bad thing given the level of debt the average Canadian has. Another trigger is simply that prices have outpaced buyers' ability to buy in certain segments of the market. Over-building of under-sized units in other segments also did not help.

Next year is expected to extend the down trend, though as we have seen in the past, anything can happen. Since our overhead is very low, whatever happens to the market will have minimal effect on us. We will continue to help our existing and new clients with integrity, honesty and professionalism. We are never in a rush to "sell" our clients something. If they are serious in their endeavour of switching homes, we want to help them make the best possible decision under any circumstance.

Bring it on, 2013!

John Tran
Broker of Record

Year Six

I am extraordinarily late in posting my annual entry this year. The past twelve months have been a busy one for City Wide Professionals. We marked a year of ever increasing values in our transactions as prices continued to march on and defy expectations.

The New Year will be interesting as usual as the number of listings are expected to increase and the market to be tilted more towards the buyers. But, as have been shown in the past, anything can happen.

Regardless of what the market does, we will continue to march to our own beat. We will continue to provide the outstanding customer service that our clients have come to expect. We will continue to dedicate our utmost expertise to help our clients achieve the very best.

Here's a toast of the best champaign to 2012!

John Tran
Broker of Record

Year Five

I'm a little late in writing my annual post on this blog as we enter our fifth year. The past year for the brokerage has progressed at the usual comfortable pace. We saw one representative decide to leave real estate while another decide to enter the profession. I continue to value, appreciate and thank each and everyone who continue to support us.

The market during the past year saw lots of strength in the first half but weakness into the second half. When compared to 2009, sales this year in general have decreased month after month since June, while prices have maintained modest increases. The market will do what it does and we will continue to do what we do with enthusiasm, professionalism and care.

The industry saw a major development that could change the way many brokerages operate in Canada. A settlement was reached between the Canadian Real Estate Association (CREA) and the Competition Bureau, that will allow listings to be posted for a fee, without further representation. What this means is that sellers will be able to pay a fixed price for a posting service only, whereby buyers and other realtors can contact them directly. The brokerage posting the listing would still be liable for its accuracy. There will be possibilities for new business models but also challenges should something go wrong.

The coming year will surely bring both opportunities and adversity to both the industry and the brokerage.

We are ready.

Year Four

Keeping with tradition, this is my yearly entry on this blog. Today marks year four of City Wide Professionals! The past year has most certainly been interesting. An expected downturn has quickly turned into a strong recovery, mainly due to ultra low interest rates. Combined with a lack of listings, the 2009 market saw multiple offers and significant sales and price increases over 2008.

City Wide Professionals is now four professionals strong! Not phenomenal growth by any stretch of the imagination, but a good milestone nonetheless.

The coming year will surely bring many changes, both to the real estate market and City Wide Professionals. The advent of higher interest rates, the introduction of the HST in Ontario and the continued volatility in the financial markets, will no doubt impact the real estate market. Although we would love to see prices go up forever, the reality is that at some point, a moderation in prices will not only be inevitable, but will even be healthy for the market.

As for City Wide Professionals, we will continue to march forth. This coming year may well be the year we branch out in search for a new home for the brokerage. One thing is certain - there will be many tough decisions to be made.

I aspire to write more on this blog, but you can be assured that I will have an annual update again next year!

Year Three

Today marks the first day of year three and onwards into a year of economic downturn, volatile stock markets and an expected downward spiral for home prices and sales. Though we expect a difficult year ahead for all in the industry, we will keep moving like we always have and always will. Our extremely low overhead gives us an edge over others. We look forward to helping all of our buyer and seller clients. In a tough market, there are strategies for both buyers and sellers and we would love to share them with you should you give us the opportunity.

Year Two

Our first anniversary has come and gone without much fanfare. It's not that there's nothing to celebrate, but that's just my style for now. The past year has seen some ups and downs but by and large, it was what I expected. We'll keep on rolling.

Milestones

City Wide Professionals Inc. is now three professionals strong! Hurray! Not explosive growth by any measure but I'm happy nonetheless. Furthermore, a professional other than me has made his first sale! Hurray! These are important milestones to a small brokerage like ours.