The year ahead for hard-hit agents

by Justin da Rosa06 Jan 2016
It’ll likely to be another tough one for agents in one struggling market, but a little creativity will go a long way in helping them thrive in 2016, says one veteran.

 “What can we expect next year in Alberta? That’s a good question; I wish I had a crystal ball,” George Bamber, broker/owner of Century 21 Bamber Realty, told REP. “I’d expect sales to be similar to 2015; I don’t see them being much more depressed, but I don’t see them returning to pre-2014 levels.”

Agents – and, generally, the entire population in Alberta – enjoyed the fruits of the oil boom for years, but hard-hit prices put a damper on the province’s economy and its housing market last year.

And while agents can expect more of the same in 2016, it will give them a good time to regroup and work on developing relationships with past clients.

“Today, Realtors are going to have to work harder and smarter than in previous years; they need to keep in contact with past clients by giving them regular markets updates and staying top of mind,” Bamber said.

July will be a good month for that, according to Bamber, as it will be the time the province releases tax information – which is the perfect opportunity to contact previous clients.

“It’s a good time to reach out to ensure tax details for home values are correct,” Bamber said. “Cities are notorious for trying to charge as much tax as possible.

And while sales will undoubtedly take a hit, business will still be available.

“Sales dip, but it’ll be a good time for clients to move up,” Bamber said. “People still buy and sell.”

COMMENTS

  • by P.B. 1/7/2016 8:45:12 AM

    In my typical trading area, 2015 sales (all sales, not leases) total about 570 for 2015. There are approximately 167 sales reps linked to the Brokerage offices within the trading area. This figure does not include sales by local agents serving out-of area property or out-of area agents selling within our typical area. So, 570/167=3.14 average transactions per agent. Multiply that by the typical commission of, say, 2.25% x average selling price of $360,000 = $25,*** before expenses.

    Where is the huge income, I ask?

    And no, I am not in Alberta. I am in Ontario.

    Not everyone works in the GTA or Vancouver markets so some sobriety is called for when reporting on "hot" markets.

    Thanks.

  • by kim burton 1/7/2016 12:09:16 PM

    I really wish you would write some articles about Ontario

  • by Doris Murray 1/8/2016 1:06:29 PM

    Right on Kim Burton! It seems the real estate world rotates around Vancouver, Calgary, Toronto and Montreal.
    Really! There are plenty of people living in other areas of our big beautiful Country.
    I also work in a rural Ontario area within an hour of our Nation's Capital, and home prices have been dropping in the past 1-2 years.

Poll

Is a Toronto foreign sales tax a good idea?