Realtor Sharon Soltanian stands in a home undergoing renovation in the Willowdale area. Since peaking in 2016, Willowdale and the neighbouring Newtonbrook have seen some of the sharpest declines in sales in Toronto.Market reports about the Greater Toronto real estate market often focus on whether buyers are on the sidelines or if sellers are biding their time as the region grinds through a generally slow period.
“I know in the public eye, real estate agents are ruthless, heartless, all they want is to make money,” she said. “The reality is, the majority of these people are educated people, immigrants. … I have Phd-from-Harvard agents. I had a dermatologist that cannot work here as a doctor. These are normal people, they become agents, it was easy a few years ago for them, but now it’s very difficult.
The situation means realtors working in those markets – and in nearby York Region markets such as Richmond Hill and Markham that have seen similar declines in sales volumes and prices – face some tough career choices, according to Zoocasa chief executive officer and broker of record Lauren Haw. Ms. Raber said the team has seen signs of a flight to quality as their marketshare has grown: During the boom years her office would sell perhaps one of every 15 houses in a hot area, while now they are selling more like one in every nine houses. And while Mr. Cheng estimates the rest of the market saw sales drop 40 per cent, he believes Realtron agents outperformed the slowing market with only 15-per-cent to 20-per-cent drops.
Source: News Formal (newsformal.com)
JonDoe60912451 Slowing how is 1000 square ft for a shoe box slowing re sales are cheaper than pre cons now builders are just greedy market is due to crash
nice to see parasites finally getting a comeuppance for their complicity in the housing crisis we're currently enjoying
doughoyes & team will be meeting w/ MANY realtors in mid-late 2019 (once the last gasp of hope fades, w/ yet another historically humble spring market behind us). Most will be too late, w/ home equity already drained, maxed out credit cards, tax arrears - pls keep us posted 👀
Where are the articles on Vancouver? Worse here I'd think.
“Then there’s new agents, the only times they’ve worked in is when things were booming. In every hot market, everybody thinks it will never end, and in every down market, people think we will never get out of it.”
'agents who once had a decent living drop out of the business, go homeless, put their cars on lease-breaking websites and turn to side-hustles such as driving for Lyft or running an Airbnb.'
No sympathy for these folks, who urged families to pay more for houses than they should have, while doing everything they could to fan the housing bubble. Now they are reaping what they sowed.
DONT WORRY BE HAPPY!! THE 'HUMAN RIGHTS ABUSING!!' COMMUNIST CHINESE 'LAUNDERED BLOOD MONEY IN CANADA!!' IS JUST LOOKING FOR A NEW AREA IN CANADA TO MAKE IT UNAFFORDABLE FOR CANADIANS TO BUY A HOME!!?
“Before … they had $20,000 income [a month], now they have $2,000 and they don’t know who to pay first.” ... Oh come on.
I wonder if it has something to do with everyone and their mother being agents these days.
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