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.