“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.”
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.