Daily Market Update

by REP15 Jan 2015
Real estate commissions to fall?
The Canadian Real Estate Association (CREA) includes more than 100,000 real estate brokers, agents and salespeople. The Toronto Real Estate Board (TREB) boasts the largest local association with more than 40,000 members, a jump of about 29 per cent since 2011. During that time, home sales have only grown by four per cent. What find out this means for realtors in the story here.

B.C. town a home for boomers? 
Osoyoos boasts one of Canada’s warmest climates and is just a short trip from B.C.’s Lower Mainland and Calgary, it’s a major draw for the over-50 set looking for a slower pace, making it ideal for baby  boomers. Find out more about the town in the story here. 

Detached homes lead price growth in Vancouver
The benchmark price for all home types rose year-over-year across Vancouver, with detached bungalows leading the way with growth of 7.5%. The average price for a detached bungalow in Q4 2014 was $1,124,642, up from about $1,046,200 in the same period last year, according to the Royal LePage House Price Survey and Market Survey Forecast released January 14. Read the full story here


  • by Tyler Hancock 1/15/2015 9:35:08 AM

    Creston was the other BC town in that report! It's awesome!

  • by e. harold 1/15/2015 11:10:55 AM

    yes - commissions should fall - it costs the same for a 1/4 page ad for a $100,000 property as a $1,000,000.00 property But the full scale of consumers should benefit - Realtors with up to date technology spend less time per sale as 15 yrs back but collect Tremendous unearned fees - should be cost based as per accountants and lawyers and fully accountable

  • by Bob 1/15/2015 12:09:29 PM


    When you say commissions "should fall", you are almost saying that there is a regulatory body that sets the amount to be paid to realtors on a deal. The commissions a consumer pays to his/her agent are totally up to them, as there is no rule that says you must pay 5% to sell your home. This is the one misconception that really bugs me. If you offer a realtor a different commission structure (based on what you feel is fair), then it is up to them to decide whether to go into business with you, or not. In my experience, there will be dozens of realtors jumping at the opportunity to take on your business (at your commission structure), but the quality of agent you will get is a different story. The term "you get what you pay for" is nowhere more true than in the real estate industry.

    Therefore, the statement "commission should fall" sits directly in the hands of the consumer. You have all the power.

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