No surprise to most of us, the Competition Bureau (CB) is investigating the Canadian Real Estate Association (CREA)’s MLS commission policy requiring a commission be paid to buyers’ agents, and the Cooperation Policy requiring all listings to be on the MLS within three days.

I expected both, and I’ll be surprised if the Cooperation Policy comes out unscathed as I find it unethical no matter how many times I re-evaluate it, but I take real issue with the investigation into the mandatory buyers’ agent commission policy.

Now, this is clearly a complex issue involving both law and ethics and, as we realtors get used to saying, I am not a lawyer, but I would like to comment on both the legality and the ethics of the situation.

Our MLS at a high level

Before I comment, I need to back up a few steps and discuss our MLS from a high-level standpoint. MLS in North America is, to use the parlance of our times (Big Lebowski fans will recognize that line), a unicorn. In many, if not most, countries, listing agents do not cooperate with buyers’ agents, and even in North America we see that commonly with commercial transactions.

In other countries, buyers are forced to peruse multiple websites, drive around, talk to multiple agents — none of whom work in their best interests — and then ultimately work with one of these agents whose primary job is to get the most money from them as possible. Whether or not it’s the best home for them is secondary. These agents are’t bad people; this is just their duty, same as listing agents here. 

Of benefit to buyers, sellers and both agents

Our MLS strikes me as one of the best creations the world has ever seen, and I’m not exaggerating. For most of us, our home is an extension of who we are and one of the most important purchases of our lives. American psychologist Abraham Maslow recognized this almost 100 years ago when he placed shelter at the very base of his hierarchy of human needs. A comfortable, happy home is probably one of the most important factors of a fulfilling life.

The MLS gives homebuyers easy access to the widest selection of potential homes while simultaneously allowing them to have a trusted representative on their side in what may very well be the most expensive purchase of their lives. I dare say only a few things in this world are more important than that to the average person, though we rarely take the time to think that through.

At the centre of this transaction is the trusted representative, the buyers’ agent, the realtor. In my career, I’ve had the opportunity to work across the table from some very competent realtors. Watching these professionals at work has been a great pleasure and learning experience over the years. Many homebuyers have been able to purchase the best home available to them at the time with the least amount of effort and under the best terms and conditions available, thanks to the guidance of these professionals. MLS is truly a win-win-win-win — homebuyers, sellers and both agents benefit.

A conflict of legality and ethics, of cooperation and competition

Considering all these factors, the question arises: how should we reward these practitioners fairly and adequately? This is where the divergence between what is legal and what is ethical comes into conflict.

Is it ethical to have these people work for us with no guarantee of any pay, even up to the time of possession? No, but it is legal. Is it ethical to allow buyers to use this system without having to make any commitment to paying anyone anything at any time? No, but it is legal.

Before expanding on my answers, I need to cover a couple more things. As I mentioned, the MLS is a unicorn in that realtors cooperate and compete at the same time, and our legal system seems to have a difficult time wrapping its collective head around such a system, especially since the legal system is primarily an adversarial system and the notion of cooperation is foreign (I do find it particularly ironic and satisfying that both parties in a legal dispute start out adversarial but once nobody wins and they run out of money for legal fees, they quickly become cooperative.)

The real question: Is it unreasonable to ask that consumers using the system must pay for it?

The critical distinction is that whether we’re cooperating or competing, it is always in the client’s best interest. We cooperate to get the seller’s home sold and to get the buyer a home purchased; we compete to attract and keep business, and that means competing on fees. I can’t recall ever, not once, in 30-plus years having another realtor try to conspire with me for a mutually higher fee, but I sure have lost a lot of business to lower fees or better service.

Now, given the benefits I’ve just listed, here’s the real question, in my opinion: is it unreasonable to ask that consumers using this system must pay something? That something could be a dollar but it must be something and both parties are free to negotiate that fee. Is that unreasonable? Is that anti-competitive?

Negative price competition and steering: Not remotely possible

And this brings me to the current situation. The CB is investigating whether the commission policy negatively influences price competition and whether it enables steering. I cannot see how either of these is remotely possible given that the policy simply states that a fee must be offered — this could be any fee, even 10 cents.

Our Buyer Agency agreements in Alberta, and I suspect across the country, address specifically what happens when a listing offers more or less commission than we have agreed to with our buyer. If a buyer has chosen not to sign an agency agreement with us for their own interests, then we owe them the same commitment they owe us: little or none. This is both legal and ethical. We’ve offered them a mutually satisfactory arrangement and they refused. Additionally, it takes away a seller’s right to make their property more attractive to the marketplace, something I argue the CB and no human entity has the moral or legal authority to do.

A comical yet sobering proposition: Value of services rendered diminishes greatly once services are rendered

I remember being at a conference some years ago where an economist was speaking and he mentioned the system in which realtors only get paid after a transaction is completed. Economists had come up with a casual, humorous principle by which they described this system.

Decorum does not permit me to provide all the details, so let me just say that they compared our system of payment to the system of payment for one of the world’s oldest professions, as follows: the value of services rendered diminishes greatly after services have been rendered. It was comical for a moment but has been rather sobering since then, and it applies directly to today’s situation.

When we really need a service we will negotiate a higher fee; once we’ve received what we wanted, we want to renegotiate. That may be legal but it’s not ethical. If you use a product or service, you must expect to pay for it.

I don’t know the answer but I’m becoming more confident in my conviction that the CB needs to take a step back and re-evaluate the ethics of what they are doing. Competition is only one factor of many in the world of economics and business — nothing exists in a vacuum.

A new report from Re/Max Canada reveals that condominium inventory has surged across major Canadian cities, as sellers have returned to the market anticipating increased buyer demand in late 2024 and early 2025.

The report, which examined condominium activity in seven key markets from January to August 2024, notes significant growth in condominium listings. Leading the way are Fraser Valley (up 58.7 per cent), Greater Toronto (52.8 per cent), Calgary (52.4 per cent) and Ottawa (44.5 per cent), with more modest gains seen in Edmonton (17.7 per cent), Halifax (8.1 per cent) and Vancouver (7.3 per cent).

Despite the influx of new listings, condominium values have held steady in most markets. Calgary saw a 15 per cent increase in average condominium prices, followed by Edmonton at 4.0 per cent, Ottawa at 2.3 per cent and smaller gains in Vancouver, Fraser Valley and Halifax. Greater Toronto was the only market where prices dipped, down 2.0 per cent year-over-year. 

Sales activity in the condominium sector varied, with Edmonton leading with about a 37 per cent year-over-year increase in sales, marking its best performance in five years. Calgary saw a more modest rise in sales (2.6 per cent). Meanwhile, other markets experienced slower condominium sales as potential buyers continued to wait for more favourable interest rates.

Future outlook: Current lull is ‘the calm before the storm’

“High interest rates and stringent lending policies pummelled first-time buyers in recent years, preventing many from reaching their homeownership goal, despite having to pay record-high rental costs that mirrored mortgage payments,” says Re/Max Canada president, Christopher Alexander. “The current lull is the calm before the storm,” he adds.

Alexander says as of spring next year, pent-up demand should fuel stronger market activity, especially at entry-level price points, as both first-time buyers and investors vie for affordable condominiums once again.

Market dynamics and regional trends

Re/Max found that Edmonton and Calgary remain in a seller’s market, while cities like Vancouver, Ottawa and Halifax have more balanced conditions and are likely to change next year. Toronto, while still experiencing sluggish activity, is expected to turn around quickly once market conditions improve, as prices are believed to have bottomed out.

Even as new listings rise, buyers remain cautious. Early interest rate cuts by the Bank of Canada have not yet spurred significant buyer activity, but with more cuts anticipated, market activity is expected to pick up, particularly among end users seeking affordable condominium options.

“Even in softer markets, hot pockets tend to emerge,” says Alexander. “In the condominium segment we’re seeing a diverse mix among the most in-demand areas, ranging from traditional blue-chip communities to gentrifying up-and-comers, as well as suburban hot spots.”

He explains that condominiums in top recreational areas were among the markets posting stronger sales activity.

In Toronto, midtown neighbourhoods such as Yonge-Eglinton and Forest Hill South saw double-digit sales growth in the first eight months of 2024, as did communities in the city’s west end, including High Park and Roncesvalles. In Vancouver, suburban areas like Port Coquitlam saw a notable 11 per cent increase in apartment sales.

Investors take a step back except in key markets

While end users dominate the current condominium market, Re/Max observed a pullback among investors, particularly in Greater Toronto, where up to 30 per cent of investors have experienced negative cash flow due to rising mortgage carrying costs. Investor confidence is expected to recover as interest rates drop and rental incomes rise, making investment more favourable once again.

In contrast, Edmonton has bucked the trend, attracting investors seeking affordability. With condominium supply outpacing demand, savvy investors have been revitalizing older condominium stock to rent out at premium rates. Out-of-province investors, particularly from Ontario and British Columbia, are capitalizing on Edmonton’s lower costs and development-friendly environment.

Unique opportunity for buyers: ‘Arguably the most favourable climate condo buyers have seen in recent years’

“In many markets, end users are in the driver’s seat right now,” explains Alexander. “While investors are an important part of the purchaser pool, this point in time is a unique opportunity for aspiring condominium buyers who, for a short window of time, will likely see less competition from investors and a better supply of product.”

He notes this is especially true in Toronto and Vancouver, where the impact of monetary policy has hit investor profit margins to a greater extent despite high rent and low vacancy rates. “With values set to rise, this is arguably the most favourable climate condominium buyers have seen in recent years.”

‘Inevitable that further development will see condos become driving force accounting for lion’s share of (future) sales’

As immigration and in-migration between provinces continue to boost demand, condominiums are becoming both an entry point and a “middle step” in Canada’s most expensive markets. While population growth may slow in the short term, Statistics Canada projects that Canada’s population could reach as high as 49 million by 2035, ensuring long-term demand for condominiums.

“The housing mix is evolving very quickly as a result of densification and urbanization. Condominiums now represent the heart of our largest cities, and it’s inevitable that further development will see condominiums become the driving force accounting for the lion’s share of sales in years to come,” says Alexander.

“It’s a physical and cultural shift that Canadians are not only adjusting to but are embracing, as younger generations redefine urban neighbourhoods, sparking demand for vibrant and robust amenities, infusing new life in Canada’s urban cores in the process.”

Review the full report, including regional highlights.

Coldwell Banker Canada recently announced the addition of Coldwell Banker Executives Realty to its network. The brokerage is led by Bill Hubbard and based in Vernon, in British Columbia’s interior.

The company notes Hubbard’s decision to join was a strategic one, due to Coldwell Banker’s advanced technology, progressive approach and growing presence in the Canadian market. With over 35 years of industry experience, Hubbard is forward-thinking and takes an innovative perspective.

Hubbard’s background and experience

Hubbard’s real estate career began in Alberta and continued in B.C. after he relocated in 1996. With his previous brokerage, he earned its Franchisee of the Year Award for all of Canada in 2015. His offices have consistently ranked among the top 30 in the country and received Century 21’s highest production award, the Grand Centurion.

Hubbard is also committed to community and actively supports Easter Seals Send a Kid to Summer Camp.

Business change and growth

With the shift in industry dynamics, in 2018 Hubbard restructured his business model to blend traditional practices with modern, digital-first strategies. This helped him grow his business from 55 to 160 realtors by 2024.

His brokerage now offers full-time sales coaching, training and education services, and simplified business fees.

“The changes coming at the real estate industry require brokerages and franchisors to think outside the box. Six years ago, we chose to build a hybrid business model between traditional brokerages and the new cloud-based business models.

The second step was to find a strong brand that consumers already trusted that was progressive enough to embrace our new business model. After an intense search, Coldwell Banker was clearly the brand. Our growth is proof that realtors are ready for this change,” Hubbard explains about his journey and what led to the switch.

The goal moving forward is to “cement a leading position across the eight market areas Hubbard’s offices serve in B.C.: Castlegar, Enderby, Kamloops, Maple Ridge, Revelstoke, Salmon Arm, Sicamous and Vernon.”

The latest Royal LePage House Price Survey reveals that the aggregate price of a home in Canada increased by 1.6 per cent year-over-year to $815,500 in this year’s third quarter. While this reflects a modest annual gain, the national home price experienced a 1.1 per cent decline compared to the previous quarter, signaling sluggish summer sales across much of the country. 

Despite this, the market shows early signs of recovery, with sales volumes beginning to pick up in September. 38 per cent of regional markets recorded positive price growth during the third quarter.

Buyer hesitation despite interest rate cuts

“Despite three cuts to the Bank of Canada’s overnight lending rate, buyer demand nationally remains weak, particularly among two key groups: first-time homebuyers and small investors,” says Phil Soper, president and chief executive officer, Royal LePage. “First-time buyers, who are more sensitive to interest rates, are adopting a wait-and-see attitude. With home prices essentially flat and interest rates steadily declining, they perceive no penalty in postponing their purchase.

Soper goes on to explain that small investors, particularly those who typically purchase condominiums for rental purposes, are also hesitant. Elevated borrowing costs have made these investments financially challenging, including with carrying costs surpassing rental income.

Soper believes both groups will return to the market in significant numbers once property values begin rising again. With further rate cuts anticipated from the Bank of Canada before the end of the year, he expects prices to appreciate faster, which could eliminate the advantages of waiting for first-time buyers and make investments more favourable for small investors.

Buyer readiness + new mortgage rules to boost affordability and unlock opportunities

Royal LePage reports that total listings on royallepage.ca reached a historic high in September, rising 19 per cent year-over-year. This increase in listings reflects a readiness among existing homeowners to move, providing buyers with more choice and reducing competition across the market.

What’s more, the recently announced new regulations regarding mortgages and lending practices in Canada are aimed at easing affordability challenges for homebuyers. These changes are expected to stimulate market activity, particularly for first-time buyers and move-up buyers, by making homeownership more accessible.

“These changes will have more impact on the early 2025 market than many anticipate. Expect a material bump in activity,” says Soper. “In addition to assisting first-time buyers, raising the cap on insured mortgages expands opportunities for move-up buyers in higher-priced markets, thereby freeing up inventory for new homeowners entering the market.

However, Soper cautions that the new rules are not a “silver bullet” for Canada’s urgent housing supply need.

Young Canadians particularly interested in homeownership; consumer confidence on the rise

According to a Royal LePage survey, 84 per cent of Canadians aged 18 to 38 believe homeownership is a worthwhile investment. Of those who don’t currently own a home, 75 per cent plan to purchase property as their primary residence, with 40 per cent intending to buy within the next five to 10 years. Despite current affordability challenges, younger generations remain optimistic about their homeownership goals.

In the report, Soper notes: “The youngest cohort of homebuyers in Canada have no shortage of barriers on their path to ownership. Though the cost of borrowing has begun to come down, chronic supply shortages have kept housing prices from dropping, even as demand softened under the weight of high interest rates.

Despite these hurdles, the next generation of homebuyers remains committed to their pursuit of owning real estate, and are remarkably optimistic that they can make their dream a reality.”

Consumer confidence is also rebounding. The Conference Board of Canada reported a 3.3 per cent increase in its Index of Consumer Confidence in September, reaching its highest level in over a year. More Canadians are now optimistic about making major purchases, including homes.

Renewals at higher rates amid softening interest rates

Even as interest rates begin to soften, many Canadians who locked in ultra-low fixed-rate mortgages before March 2022 are facing increased monthly payments upon renewal.

While the Bank of Canada is expected to continue cutting rates, Soper notes that the reductions won’t be deep enough to eliminate the financial strain entirely for those still holding pandemic-era mortgages. Some homeowners may need to relocate to more affordable areas or downsize, though Canada’s strict lending practices have positioned most homeowners to handle the adjustments.

Regional real estate trends: Uneven recovery

As was the case during the pandemic-driven real estate boom, the market recovery is unfolding unevenly across Canada. Major urban centres like Toronto and Vancouver continue to lag in recovery due to ongoing affordability challenges. These cities saw lower-than-expected activity throughout the spring and summer months.

Conversely, markets in Quebec and the Prairies have shown more resilience during the period of raised interest rates. Soper notes that Alberta has experienced significant population growth, driven by interprovincial migration from Ontario and British Columbia, while the post-pandemic surge in Atlantic Canada has slowed.

Market forecast: Stronger growth expected in 2025

Looking ahead, Royal LePage forecasts a 5.5 per cent year-over-year increase in the aggregate home price for the fourth quarter of 2024. However, this revised forecast reflects current market conditions, especially in Toronto and Vancouver, where sales activity has been slower than anticipated.

Soper anticipates recovery next year continuing in most markets and the potential for price appreciation as the market responds to lower interest rates and the new lending rules: “The market recovery, albeit uneven across the country, is well underway in a majority of markets. While we may not see significant price appreciation in the typically slower fourth quarter of this year, we believe our previous forecast will come to fruition in the anticipated early spring market of 2025.”

Review the full report, including regional summaries.

A challenge in the world of government relations is that it’s inherently a long game. Here in British Columbia, the provincial government has been hearing the desperate voice of the electorate to restore affordability as quickly as possible.

This has manifested into a litany of housing policy announcements that are often big on podium bluster and critically shy on advance research or sector collaboration. The result is often one step forward, two steps back. 

Housing policy often used for populist purposes; ends up rushed, under-researched & weak on advance collaboration 

The BC Real Estate Association (BCREA), in cooperation with a coalition of like-minded and equally concerned housing organizations including the likes of the Aboriginal Housing Management Association, BC Non-Profit Housing Association, Canadian Mortgage Brokers Association – BC, LandlordBC and many others, made a public call for the government to establish a permanent roundtable on housing in April 2023.

The ask, however, fell upon resistant ears for a likely series of reasons. One of the most concerning is the governmental tendency to use housing policy for populist purposes. 

It’s my perspective that a true crisis deserves the best minds working to solve it, and it certainly shouldn’t be manipulated to attract votes. What’s necessary is collected expertise working together, a non-partisan approach, in-depth research and evidence-based decision-making. Far too often in B.C., our housing policy is rushed, under-researched, weak on advance collaboration with sectoral expertise, and as a result, significantly less effective than it has the potential to be. 

It’s not that the provincial government doesn’t have good intentions and a genuine desire to effect positive change. However, the influential leaders involved are either unaware of best-practice policymaking or arrogant enough to believe their hodge-podge of ministerial policy staffers is sufficient to solve the incredibly complex housing issues before them. 

Residential Tenancy Regulation changes: A victory with unaddressed concerns remaining

As a result, there are many instances where the government announces policy, only to have to make rapid amendments to correct overlooked issues due to a lack of advanced research. Case in point, over the summer the Province amended the Residential Tenancy Regulation to require landlords to give tenants four months’ notice, instead of two months, when evicting for landlord or purchaser use. The amount of time a tenant had to dispute the notice was also increased from 15 to 30 days.

In response to feedback from the BCREA and the Canadian Mortgage Brokers Association – BC, on August 1, 2024, the Province announced that it would be further amending the Regulation to require a three-month notice period (down from four months) and would give tenants 21 days to dispute the notice (down from 30 days) when a landlord issues a notice to end tenancy for the purchaser’s use of the rental unit.

These changes took effect on August 21, 2024. This was a sizeable BCREA Government Relations victory in terms of identifying issues created by the new legislation and achieving an almost immediate public backtrack from government. But while this was a partial course correct, there are still a variety of issues and concerns with the legislation that, as yet, continue to go unaddressed. 

Privacy and transaction lead time concerns

We voiced privacy concerns about a new requirement that landlords provide a copy of the Contract of Purchase and Sale (CPS) with the notice to end tenancy. To the government’s credit, the new landlord web portal was then updated so landlords are no longer required to provide a copy of the CPS to the tenant(s). Landlords will still be required to upload a copy of the CPS to the web portal, but it will not be disclosed to the tenant and will only be for internal Residential Tenancy Branch (RTB) use.

We would like to see high-ratio insured buyers (including first-time buyers) who will be occupying the property continue to have a two-month notice period because of the financial hardship caused by a longer delay in them taking possession of their property, and the likelihood of them running afoul of financing restrictions.

In future, the B.C. Government should allow much longer lead times for implementation when making changes that involve real estate transactions and tenancy issues. Provisions should always be made to exempt transactions that are already in progress when announcements about these kinds of changes are made.

To protect the privacy of buyers, it would be prudent to eliminate the requirement to report to former tenants for buyers who intend to occupy their own units. The buyer’s intent to occupy could be documented for the RTB by use of a Statutory Declaration or as part of the Property Transfer Tax return process. An early sale of the unit could be tracked through the Land Titles or BC Assessment systems. The government already has its own sources of information to verify the occupancy status of an owner and that the unit hasn’t sold within the year.

Addressing needs of certain demographics and short-term rentals for owners between completions

They also need to provide a more paper-based alternative to the new web portal for use by less technically savvy landlords or allow the existing paper forms to still be used for giving tenants notice. The Ministry’s suggestion for such landlords to visit a Service BC Office or the RTB’s Burnaby office for assistance is hardly a realistic or efficient option and is dismissive of legitimate problems of different demographic groups within our communities.

Lastly, they should also allow the rules for short-term rentals to accommodate property owners or buyers who are stuck between completions if the rental is needed for a period under 90 days.

In about a week, the B.C. election takes place. In the end, the Province will most likely be governed by either the BC NDP or the Conservative Party of B.C. Whichever party emerges victorious, a new, more collaborative future that back-benches politics and puts a newfound focus on non-partisan results is vitally needed.

Please note that it’s BCREA policy to not respond to comments on any of its online articles.

This week, the Calgary Real Estate Board (CREB)’s Realtor Community Foundation (RCF) awarded community grants to L’Arche Association of Calgary, HomeSpace Society, The Mustard Seed and Discovery House Family Violence Prevention Society.

These grants will help with major repairs and renovations to existing housing or shelter supply, to keep people housed in their communities. This year, the RCF increased the amount of annual funding with a total of $115,500 allocated to the community grant, $10,000 more than in 2023.

“We are deeply inspired by the significant impact these non-profit organizations have on their communities, and we are proud to support them on behalf of our local realtors,” says Catherine Chow, chair of CREB Realtor Community Foundation.

“Unity in our local communities is crucial to improving housing and shelter solutions for those who need it most. Together, we can build a brighter future for Calgary and surrounding areas.”

The recipients 

L’Arche Association of Calgary is a charity that supports people with intellectual disabilities to participate in a community designed to bring out their best. The organization has five homes in Calgary with supported independent living and day programming, and grant funds will enable essential renovations at one of the homes to ensure it meets standards and provides a secure and healthy living space for residents.

HomeSpace Society builds and manages specialized, affordable housing for vulnerable people in Calgary. One of its buildings that offers permanent supportive housing and a palliative care suite needs several updates and maintenance to ensure good quality housing for residents, which the grant funds will be dedicated to.

The Mustard Seed is a non-profit organization that cares for individuals experiencing poverty and homelessness by providing a space where people can have their physical, mental and spiritual needs met. Funds will be used to upgrade the flooring in several units.

Discovery House Family Violence Prevention Society serves women and children leaving domestic violence by helping them rebuild their lives. The shelter has two-, three-, and four-bedroom apartments, a childcare centre, counselling rooms, community spaces and an enclosed courtyard with a play area and garden. Funds will target updating one of the suites with new flooring, lighting, appliances and furnishings.

Attempting to fully get a handle on the real estate industry in India from our North American perspective may be an exercise in futility. You can try, but there’s no guarantee you’ll succeed. They’re two hugely different cultures, after all. 

A push in both Canada and India for greater industry professionalism

“Comparing India to Canada is not the right approach,” insists Re/Max India’s CEO and co-owner, Aditya Agarwal. Still, it’s fair to say that in both countries there’s a push to varying degrees for greater professionalism in the industry.

With around 1.45 billion citizens, India has recently overtaken China as the world’s most populated country, according to the United Nations. Real estate is one of India’s fastest-growing sectors. The economy is stable. The cost of living is low. The country has heavily invested in infrastructure development. Demand for housing is strong, with loads of growth potential.

Realtors in India can make “very good money” and so can their clients, attests Agarwal.

Look for ‘a new and different change in Indian real estate’ and a market ‘on the verge of rapid expansion’

The real estate industry in India, however, is highly unstructured and unregulated, although change has been underway in recent years. The legal framework and government rules “are stricter in substantial cities” like Mumbai and Delhi than in small communities, Agarwal notes. 

“In the last seven or eight years, the government has taken significant initiatives to regulate the market,” with the help of the establishment of a Real Estate Regulatory Authority in each state, he explains. “In the next few years, we will see a new and different change in Indian real estate.” 

Earlier this year, India Today magazine applauded the industry’s efforts to improve standards, stating in an article that, “Recent government reforms aimed at fostering accountability and openness have put the Indian real estate market on the verge of rapid expansion.”

India’s market ‘frontier-like’: NAR-India

Even so, the National Association of Realtors (NAR-India), formed in 2008, has been known to openly deem the country’s market “frontier-like.” 

This is where the Indian and North American worldviews can deviate. We tend to feel a “correction” is in order. Many of those living in India may disagree, content for the most part with the status quo. Lest we forget, India was exploited under colonial rule for close to 100 years —  a legacy that shapes the nation’s psyche in ways we can’t imagine.

There’s no standardized MLS in India. No mandated licensing or training of agents. Solid data for backing up sales prices and comparables may be lacking. Organized crime in the industry is known to be an issue. Regulatory complexities and bureaucratic hurdles abound.

Some feel industry is unorganized, more should be done

NAR-India could be doing more to empower the country’s realtors, Agarwal feels.

The legal framework can be poor. Especially outside the cities, there may not even be listing agreements, with the result that realtors’ unpaid commissions become lost causes. Buyers and sellers may use an agent or they may not, preferring instead to handle the transaction by networking with friends, neighbours and family. 

“It’s unorganized,” asserts Eldred Fernandes, who sold real estate on the side for a top builder in the state of Goa while working as a marketing professional with an Indian paints and sealants company, before moving to Canada. “Most people in India buy on trust.” 

They’ll pay a finder’s fee or divvy up a commission between the friends who assisted them. It can be similar for agents, with quite a few often involved in the same transaction, Fernandes continues. (In India, he adds, realtors generally require both the seller and buyer to pay 1.0 or 2.0 per cent commission.)

Industry inconsistencies with ‘huge potential to organize the sector’: An ‘enormous challenge’

Fernandes, now a Royal LePage agent in the Greater Toronto Area (GTA), still occasionally lends a hand in overseas transactions. In his experience, the new-build condominium market in India overseen by builders/developers in the concrete jungles of the big cities is “somewhat organized” (although it’s widely reported that developers differ greatly in terms of ethics).

This doesn’t hold for the resale market though, he feels, especially in small towns and villages.

“There are a lot of inconsistencies,” he states. “There’s huge potential to organize the real estate sector.” But it’s an enormous challenge. Corruption continues to be an issue, with some clients opting to do a hefty portion of deals under the table in cash to avoid taxes and other costs, he says. “How can the industry be regulated until that’s regulated?”

Many locals happy with status quo and don’t want change

While North American-based franchises have begun making inroads towards further professionalizing the business, some locals are leery of the offerings of the smattering of big Western-world brands that are infiltrating India’s vast market, Fernandes has found. Many are satisfied with the system as-is and don’t necessarily want change.

When Keller Williams Worldwide announced its expansion into India last year, company president William Soteroff remarked on the country’s “extraordinary growth and strong economic outlook” and explained that Keller Williams wants to “raise the bar of real estate service” in India to differentiate themselves from the rest.

Time will tell whether or not directives along these lines are something the nation will eventually embrace.

Have you ever heard an agent say they just didn’t feel supported in their brokerage? It’s a commonly cited reason given by agents as they wave their brokers goodbye. “We have always prioritized training in our network and wanted to strengthen our offering even further,” says Todd Shyiak, executive vice president at CENTURY 21 Canada (C21). “We decided to explore if it was possible for brokers to provide targeted coaching and in doing so, strengthen relationships with their agents.”

The team knew the main obstacle would be providing brokers with coaching that meets the needs of different types of agents, and that’s where Chris Leader entered the picture. “We worked with the team at Leader’s Edge training to bring three distinct levels of coaching to our 11,000 agents, and separately also developed an internal platform that would allow each broker to customize training for their offices. This is our way of ensuring that no agent is left to flounder.”

The C21 team started with the big picture — how could they keep agents up-to-date with best practices in a rapidly shifting industry? The answer was Chris Leader’s “Coaching to Confidence” program which provides weekly training that dives into current market trends and strategies for success.

“For one hour your agents learn actionable tips on sales skills, lead generation, business structure and overall motivation,” says Leader. “My aim is to provide ongoing content that would help new-to-the-industry agents set goals and understand the market they’re working in. It’s a great way for brokers to provide agents with the opportunity to ask questions and it works as an introduction to coaching — and possibly even realize they need something a little deeper.”

Helping mid-level agents target areas of their business for improvement

For a deeper coaching experience, Leader’s Edge developed two programs. The first, JumpStart Coaching, is a way for mid-level agents to target specific areas of their business, such as driving closings or prospecting. Leader explains this as a “surgical solution” to a problem that might be holding an agent back.

“We tailor the training to an agent’s individual needs, and it’s the best solution for the seasoned agent who’s hit a plateau and needs to find a way to break through to that next level in their business.” For Leader, the secret here isn’t just individual help — it’s the personal accountability of each agent. “We build a coaching relationship that can last anywhere from six months to two years. Agents select the strategies for success and work with their coach to see those strategies through, being held to task each step of the way.”

Helping brokers deliver their own proven training

But what does a broker do when they have their own tried and true training that they want all their brokerage newcomers to go through? The team at C21 Canada also envisioned a way to help brokers deliver their own training to their agents and developed the “Path to Gold” platform. Shyiak describes it as a way to let brokers deliver their personal coaching to their agents through a series of virtual learning courses.

“This could mean formalizing an onboarding process that’s been refined through years of experience, guiding agents through setting up their CRM or ensuring all agents know the ins and outs of FINTRAC laws. It’s the key to success for a busy broker who wants to create a strong office culture and see that no one drowns alone.”

The Path to Gold, by Xsel, also provides the accountability that’s so crucial. Within the platform, a broker can assign courses and set timelines and quizzes to ensure the agent is participating in the training program as well as retaining the information. For in-office trainings, it’s a great way to see how an agent is progressing and building measurable results that build credibility for themselves and quality brokers.

It can be a daunting and lonely road for a new real estate agent — or even a seasoned one who’s hit a rut. The team at CENTURY 21 Canada built and brought in these tools with the goal that no agent would feel like an island. Even beyond that, it’s a way for C21 brokers to show their commitment to support and prove that they’re the best resource for their agents, right from day one.

Have you ever heard an agent say they just didn’t feel supported in their brokerage? The team at CENTURY 21 Canada worked with Leader’s Edge Training and the Xsel platform to develop training programs that would meet agents at their need-level — whether they needed to brush up on best practices or be held accountable over months or years. The goal was to help their brokers help their agents and strengthen those bonds right from day one.

A survey commissioned by HomeEquity Bank shows 95 per cent of Canadian homeowners aged 75 and older are very satisfied or somewhat satisfied with their lives, compared to just 79 per cent of Canadians in their 50s.

Study’s happiness markers: Financial stability, quality connections & sense of purpose

“Our latest study unpacks different happiness markers for Canadians and how they shift as they age. We found a sharp distinction between those approaching retirement and those well into it,” says Katherine Dudtschak, president and CEO of HomeEquity Bank.

The happiness markers used in the study include financial stability, quality connections and sense of purpose.

“To be fulfilled, you need to look at all facets of your life,” says Vivianne Gauci, HomeEquity Bank’s senior vice president of customer experience. “Financial stability is a fundamental part of living a healthy and fulfilling life, but it’s not the only factor. Connections and purpose have critical roles to play, which is why enjoying a happy retirement requires a holistic approach.”

Here are the study results.

Financial stability

48 per cent of Canadians in their 50s feel very good or excellent about their finances, while 68 per cent of those aged 75 and older feel the same.

Likewise, more Canadians in the older age bracket (75 per cent) vs the younger age bracket (55 per cent) felt they could handle a major unexpected expense.

Quality connections

The study found that feeling connected and experiencing good friendships improves as people age from their 50s to 75+ (70 per cent versus 85 per cent).

As well, another indicator of connection, living in homes in good order and enjoyed by family members, improves with age (81 per cent versus 89 per cent).

Sense of purpose

Being active in their communities is more common for those aged 75 and up (48 per cent) than those in their 50s (30 per cent). Likewise, giving back to the community and supporting charitable causes increases with age (34 per cent versus 51 per cent).

Biggest stressors

For homeowners in their 50s, the biggest stressors include outliving retirement savings, not having enough to support themselves and the ability to leave behind a legacy they can be proud of.

This is exacerbated by a changing retirement landscape, which includes Canadians aging with more debt, limited cash savings and shrinking pensions, while living longer with increasing and different health care needs.

Review the full report here.

No query is too big or small — if it’s about elevating the look of your real estate, we want to hear it and we want to help! Email your questions to ninadoiron@isodesign.ca

As a real estate agent, one of the key challenges you may face when helping clients sell their homes is ensuring the property remains show-ready at all times. While staging is an excellent way to present the home in its best light and attract buyers, it can be difficult for sellers to live in a staged home, especially when balancing busy lives. But don’t worry — there are plenty of strategies to help sellers keep their homes ready for showings while minimizing stress and maintaining comfort.

Here, we’ll explore tips for sellers on how to live comfortably in a staged home, keep the property show-ready and avoid potential pitfalls. With your expert guidance, your clients can increase their chances of selling quickly and for top dollar.

Why it’s important to keep a staged home show ready

First, it’s important to emphasize to sellers why keeping their homes in pristine condition during the listing period is essential. A staged home is designed to appeal to the emotional triggers of potential buyers. A clean, well-organized space helps buyers imagine themselves living in the home, which can lead to quicker offers and higher sale prices.

However, one messy or cluttered space can break that emotional connection for buyers. When they walk into a home that’s untidy or doesn’t look like the photos they saw online, they can become distracted by the clutter and may focus on negatives rather than the home’s best features. That’s why sellers must maintain the home in show-ready condition at all times.

Tip #1: Create a daily routine to stay show-ready

A daily cleaning and tidying routine can help sellers keep their homes looking fresh without the need for a deep clean every time there’s a showing. Encourage your clients to set aside 10-15 minutes in the morning before heading off to work and another 10-15 minutes in the evening to quickly tidy up common areas, wipe down countertops and do a quick vacuum or sweep if needed.

This daily routine can prevent messes from piling up and help your clients feel more in control of their space. Consider sharing a checklist of high-priority tasks to focus on daily, such as:

• making the beds (use photos taken on staging day as a reference to restyle the bed)
• clearing off countertops
• putting away toys, clothes and personal items 
• wiping down kitchen and bathroom surfaces
• emptying the trash
• checking for pet messes or odours

Tip #2: Pre-pack personal and non-essential items

Encourage sellers to think of the staging process as the first step of moving. Ask them to pack away personal items, non-essential decor and excess furniture that could make the space feel cluttered or personalized. By doing this in advance, they’ll have fewer items to worry about maintaining and will make the home feel more neutral for potential buyers.

Not only does this help declutter, but it also reduces the number of personal belongings sellers have to organize every day. Plus, it gives them a head-start on moving once the home is sold!

Tip #3: Implement organizational systems

Having organizational systems in place can make a world of difference for sellers living in a staged home. Encourage them to invest in storage solutions like decorative baskets, bins and drawer organizers to keep essential items easily accessible but hidden from view.

Here are a few quick organization ideas that can help:

• baskets for storing items like shoes, blankets and kids’ toys in living areas
• bins or baskets inside closets to hide clutter
• drawer organizers in bathrooms and kitchens to keep counters clear but necessities closeby
• decorative trays on coffee tables or countertops to display essentials (like remote controls) in a stylish, controlled way

Tip #4: Designate ‘off-limits’ areas

If possible, recommend that sellers designate one or two rooms or spaces where they can store personal items and daily clutter when showings are scheduled. A basement storage room, garage or even an out-of-the-way guest bedroom can serve as a quick spot for stashing toys, laundry or paperwork before buyers arrive. Remember, this doesn’t mean that they should toss these items into the space — these storage spaces should always be neat and tidy.

This strategy can ease stress and provide a sense of relief for families who still need a bit of extra space for daily life but want to maintain the overall appearance of the home.

Tip #5: Be prepared for last-minute showings

Showings can often be scheduled with little notice, which can catch sellers off guard, especially during busy weekends. To help them prepare for this, encourage your clients to keep a “showing emergency kit” ready with supplies they can use for last-minute touch-ups.

The kit could include:

• a microfiber cloth and multi-surface cleaner for quick wipe-downs
• a lint roller for furniture
• air fresheners or room sprays to neutralize odours
• a laundry basket to quickly gather and hide personal items
• a small vacuum or broom for fast floor touch-ups

By having these essentials ready to go, sellers can clean up quickly and feel more confident when a last-minute showing request comes in.

Tip #6: Keep pets and pet items under control

While many buyers are pet lovers, not everyone appreciates the presence of pets during a showing. To appeal to as many potential buyers as possible, advise your clients to manage their pets’ presence and belongings during the listing period.

Pet management could include:

• arranging for pets to be taken out of the house during showings, either to a neighbour’s home, to daycare or on a walk
• keeping litter boxes, pet beds and food bowls clean and out of sight
• neutralizing pet odours with air fresheners or odour-eliminating sprays

Tip #7: Maintain outdoor spaces

Don’t forget about curb appeal! The exterior of the home is just as important as the interior, so sellers should keep outdoor spaces clean and tidy as well. This could mean mowing the lawn, sweeping the porch, clearing walkways and even adding seasonal plants or fresh flowers to the entryway. Yard maintenance should be done on a weekly basis. 

If sellers are too busy for this, encourage them to consider outsourcing the task to a local yard maintenance company. It’s important to remember that the condition of the outdoor space is often a good representation of the indoor space. Both should be show-ready at all times. 

Why it’s worth the effort

While it may seem like a lot of work to maintain a staged home, the effort is well worth it. Homes that are kept clean, clutter-free and neutralized for buyers tend to sell faster and for higher prices than those that aren’t. By following these practical tips, sellers can live comfortably in their staged home and ensure that it remains show-ready, allowing them to maximize the potential of their sale.

As a real estate agent, your role is crucial in guiding sellers through this process and providing them with the support and advice they need. The result? A smoother selling experience and happier clients.

Got home staging questions for a future column? Submit them to ninadoiron@isodesign.ca