Is a bad market good for business?

by Olivia D'Orazio02 Jan 2015
With interest rates set to rise and buyers increasingly concerned with the market’s supposed overvaluation, Canada’s housing sector might be in for a slow 2015, but could that change actually be good for business?
“Nothing should stay the same forever,” Jeffrey Joseph, a Realtor in Toronto, tells REP. “I’ve found the harder I work and the smarter I work, the luckier I get. That’s the main issue that has to do with the amount of business I created.”
Indeed, Joseph says agents who treat their work as a real profession will be success – even amid a hardened real estate landscape.
“Real estate agents by and large, don’t have a great reputation,” he says. “But some real estate professionals do. We have to be absolutely transparent with our clientele.”
Commenters in the REP forum agree with that sentiment, arguing those professionals stymied by part-timers and integrity-poor sales reps crowding the market might find reprieve as various market changes take shape in the new year.
“Many agents fear competition,” writes an anonymous commenter in the REP forum, “but at the end of the day a bad agent won't be in business for too long so [professional agents] shouldn't worry about them.”

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