Part-timers on their way out?

by John Tenpenny30 Oct 2015
Calls from CMHC for a cooling of Canada’s housing market over the next two years and a corresponding slowing of business for real estate agents has some predicting a reduction in the number of part-time sales reps.

“As soon as the market begins to slow you’re going to see a lot fewer part-time agents in the business,” Andrew Mitchell, a chartered real estate broker with Vistacor Realty Group in Montreal, told CREW. “And that is born out if you look at the number of registered agents – they tend to increase with markets that are getting hotter and decrease when the markets cool.”

Agents who got into the hot market for easy money when homes were selling quickly suddenly realise the amount of time and work involved in getting homes sold in a quieter market, and so a lot of them don’t stay in the business.

According to CMHC’s fourth-quarter outlook, a rise in the inventory of unsold homes, higher prices and mortgage rates, and an increase in the supply of rental units are all expected to contribute to the slowdown.

CMHC chief economist Bob Dugan says gains in provinces like Ontario and BC have offset the drop-off in oil-producing provinces like Alberta, but that this counterbalancing effect will decrease over time, and so housing starts and MLS sales are projected to moderate in 2016 and 2017.

COMMENTS

  • by Nick Slezinski 10/31/2015 7:06:38 PM

    In my extensive experience (licensed since 1975) I do not see the purpose of PART-TIME real estate agents ! This is due to the proven fact they do NOT have their full attention on market prices or conditions. If it was not for the MLS numbers, prices and other facts , these part-timers would be completely lost ! In my opinion they do not serve either buyers or sellers properly and to the best ability available ! Some provinces do NOT allow part-timers and I feel that Alberta should change regulations immediately ! This is not in any manner prejudicial or unfair - I would not try and be a part time pharmacist for example ! Realtors are educated and licensed, NOT primarily for money, but to service buyers and sellers correctly and to the best of our ability. In doing so, we are remunerated and make a good living as PROFESSIONAL Realtors . Part-timers are there mainly to assist with or add to their income from their primary job ! This is Not right on so many fronts ! Regards, Nick Slezinski ReMax First, Calgary, AB.,

  • by Aldo 10/31/2015 8:18:48 PM

    Loosers looking for scapegoats

  • by Haze 11/1/2015 4:44:14 PM

    "Losers" if gonna be negative and trolling at least spell it correctly.

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