August 10th - 2010

Perceived viability of real estate industry shifts: survey

More brokers today feel that the viability of the real estate industry is in jeopardy, according to the 2010 Broker Viability study.

More brokers today feel that the viability of the real estate industry is in jeopardy, according to the 2010 Broker Viability study. Fifty-three percent of respondents believe there is a greater threat to the industry’s ability to survive, up from 40 percent in 2008 and 34 percent in 2005. One third did not agree that the industry was in jeopardy (34 percent.)

Fewer brokers were concerned with the viability of their own brokerages; still, 26 percent agreed that the viability of their brokerage was in jeopardy.

Sixty-nine percent of the brokers in the study agreed that, in the next five years, profit levels in the industry were likely to decrease. The result is down slightly from the 73 percent in 2008.

As with the industry scores, brokers were more concerned with profit levels of their brokerage compared to the viability. Forty-four percent of brokers in 2010 agreed that, in the next five years, profit levels in their brokerage were likely to decrease, up from 39 percent reported in 2008.

OREA commissioned the first online survey on behalf of the Broker Viability Task Force in 2005. The purpose of the study is to assess the future viability of the real estate brokerage industry in Ontario, from the perspectives of the Broker Owners and Broker Managers.

This is an ongoing project with OREA conducting the survey every two years in order to track benchmarks over time. More information is available on the OREA website at http://www.orea.com/bvr.

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For more information contact

Ontario Real Estate Association

Jean-Adrien Delicano

Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246