Thursday, April 26, 2012

One sale for every two realtors?

Sales, like a tramp steamer running of gas is sputtering, and slowing down..


In March we had .."a decline of 29.6 per cent compared to the 4,080 sales in March 2011 and an 8.4 per cent decline compared to the 3,137 home sales in March 2010." REBGV


We are on course to have 2900 sales for the REBGV for April.


That would be 10% less than last year and 20% less than April 2010.


That cannot be a pleasant situation for the 10,000 Realtors in the  region (give or take a few hundred as these are 2010 numbers)


Now of course every sales has two parts a listing Realtor and a selling Realtor, so 2900 sales become 5800 transactions.


Rounding the numbers that comes to one transaction for every two Realtors in April. Even with our sky-high prices, that leaves a lot of agents with little or no income in April and on-going expenses.


Of course like many other fields, the top 10-20% are probably accounting for the lion's share of the transactions.
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8 comments:

  1. eggheadApril 26, 2012 at 8:29 PM

    Ontario just downgraded. Tee hee hee. Don't know why but the whole thing gives me the giggles. Like we've been living with our head in the sand for so long. When the sh*t finally hits, it's going to be worse because of the long denials...

    ReplyDelete
  2. horlicksApril 26, 2012 at 9:04 PM

    Not everyone see 'em as denials. Collusion is not singular in Thailand, Ireland, or wherever.

    ReplyDelete
  3. fish10April 26, 2012 at 9:23 PM

    Funny reading about Iceland looking to use the CAD because we are sooo solid.

    Yet our Provinces are getting down-graded and we are a 10% housing correction away from the Fed Government having to throw money at the CMHC and then we may be asking to use the Icelandic Kroner.!

    ReplyDelete
  4. jesseApril 26, 2012 at 10:08 PM

    The old Chipman 80-20 rule applies here and I think is valid: 20% of Realtors do 80% of the business. Or something.

    ReplyDelete
  5. AnonymousApril 27, 2012 at 8:38 AM

    my guess: those middleman probably earn about the canadian average if they get two done deals a year.
    any better educated guess/facts from others?

    ReplyDelete
    Replies
    1. AnonymousApril 27, 2012 at 3:56 PM

      Easily. Selling to new arrivals is a niche market with an annual average of $250k-$300k. We are not even talking of the top 20%. Many realtors today are working at other jobs full-time or part-time. One that works at 3 municipalities full-time as well as on contracts, often use inside information to speculate on properties along planned rezoning land and infrastructure construction.

      Delete
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