“It was like a flip of a switch,” he says. He had three or four homes listed in March. One week those houses were drawing 15 to 20 offers. The next week, it was two or three.
They have to manage their clients’ expectations — both sellers’ and buyers’ — as well as their own businesses, said Kevin Crigger, president of the Toronto Regional Real Estate Board. “We were pivoting everything about how we do business, how we sell property, all those things. Now it’s pivoting in terms of what strategy we would recommend to our clients,” he said.
Kumarasamy, who also practises law, says he’s not worried about his income this year, although he expects it will be lower than last. But he’s heard other agents expressing concern and the management at his Re/Max Realtron brokerage has been trying to offer reassurance that the market will lift. Veteran realtor Georgiana Woods of Royal Lepage Connect Realty admits she wouldn’t want to start her sales career in the current climate.
To all RE agents/companies: Just ST*U.
Wait until the FALL BLOODBATH
They actually have to work for their 2-5% commission. How novel an idea.