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In a stunning reversal, the Harper government announced Saturday it will withdraw...
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Oh, the weather outside is frightful. The economy isn't much better, and both are bad news for realtors, who generally suffer a slowdown at this time of year, but are now facing a surplus of unsold real estate.
Today would appear to be a great time to buy as selection is very good, interest rates have dropped, and it is definitely a buyer's market before inventory gets taken up.
In 2008, sales to the end of November have dropped significantly. There were a total of 23,000 units sold--including single-family, multi-family, condos and acreages within the Calgary area--versus 31,000 in 2007.
All things considered, that doesn't seem too drastic, although around five per cent of Calgary realtors have decided not to renew their licences.
But it is slower at this time of year and some decide to take winter holidays; many deserve a good rest after working extra hard in a down market to earn a living. Others plod on because there are people moving into the city or changing homes for a number of different circumstances. In the past, offers have even been written up on Christmas Eve so realtors that leave the city make sure someone is backing them up.
And some are taking the time to become more knowledgeable about the business.
One of the interesting courses being made available to realtors focuses on doing businesses with those of different cultures. "Cracking the Code of Diversity - Selling More Homes in Alberta's Changing Marketplace" runs next Thursday, Dec. 18, and is a partnership between Tina Varughese, principal owner oftWorks, and the Calgary Real Estate Board.
Varughese, who was formerly with Alberta Employment, Immigration and Industry before launching her own company, says because 25 per cent of Calgary's population comes from outside of Canada, it is important for anyone working in sales or marketing, who wants to become more profitable, needs to understand cultural differences.
"Bang on; our realtors need a better understanding of how to relate to our immigrant population," says Ron Esch, executive vice-president of CREB, who has sat throughatWorks seminar.
Bill Fowler, director of industry and government relations for the Alberta Real Estate Council and also a seminar participant added, "It is a must for anyone in real estate, health care, banking and the public sector. In the first 10 minutes I learned something that will make my work more productive and make it easier for others to relate to me."
It's a course that goes beyond being politically correct; it's good business to be able to communicate cross-culturally.
Esch says CREB's mandatory courses have finished for this year and none are required for 2009, although he stresses it is important for realtors to continue their learning process and the board is providing a number of training sessions and workshops.
Ken Lamb, broker owner of Real Estate Professionals, redesigned his business model to flourish as the market became more competitive-- offering his realtors a low monthly fee and a deal fee only. His company spends a lot of time on education and since 1993 has worked with a real-estate training group based in the U. S.
He and his wife Maria attended a Star Power Group course in Chicago that focused on how to survive in a challenging market, took a seven-day learning cruise featuring 22 world-class speakers including Mark Victor Hansen of Chicken Soup for the Soul fame, and another session by a Newport Beach real estate marketing group.
"There's a big difference between just having a real estate licence and acting as a real estate professional," Lamb says. His company has grown to more than 165 realtors in its two offices; all get to learn from in-house seminars.
A couple of years ago there was a shortage of homes to buy.
Now with fewer new houses being built, a sizable inventory and the expectation that the market will balance out next year, I hope that the realtors who are still out there working hard will have a good run before the Christmas break.
David Parker, Calgary Herald
Published: Saturday, December 13, 2008
http://www.canada.com/calgaryherald/news/lifeathome/story.html?id=27a1fe65-49f4-4c6f-9048-d7504f493b77&p=1