REM https://realestatemagazine.ca/ Canada’s premier magazine for real estate professionals. Thu, 30 Jan 2025 20:46:13 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://realestatemagazine.ca/wp-content/uploads/2022/09/cropped-REM-Fav-32x32.png REM https://realestatemagazine.ca/ 32 32 Instagram-savvy Realtors see higher sales and faster deals, study finds https://realestatemagazine.ca/instagram-savvy-realtors-see-higher-sales-and-faster-deals-study-finds/ https://realestatemagazine.ca/instagram-savvy-realtors-see-higher-sales-and-faster-deals-study-finds/#respond Thu, 30 Jan 2025 10:05:30 +0000 https://realestatemagazine.ca/?p=37005 Vancouver Realtors with an active Instagram presence are selling more homes and doing it faster, according to a new study from SFU and Roomvu

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Vancouver Realtors with an active Instagram presence are selling more homes and doing it faster, according to a new study from Simon Fraser University and Roomvu. 

The study analyzed more than 63,000 transactions from the Greater Vancouver Realtors’ MLS from mid-2021 to mid-2024 and found that agents who maintain an active Instagram profile see significantly higher sales volumes and lower days on market (DOM) compared to their less social media-savvy peers.

According to the study, agents using social media were found 15 per cent more likely to improve their sales performance.

 

The numbers behind the trend

 

The research, led by SFU Assistant Professor of Quantitative Marketing Miremad Soleymanian and commissioned by marketing firm Roomvu, combined multiple datasets, including:

  • 63,200 MLS transactions (2021 to 2024)
  • Performance data for 13,698 Realtors
  • Instagram activity data for 2,639 Realtors

Of the nearly 14,000 agents analyzed, only 19.3 per cent had a measurable Instagram presence. Despite this, those who actively used the platform had clear performance advantages, particularly in expanding their market reach and reducing the time it takes to sell homes.

 

More followers, more sales?

 

So, does follower count matter? The study found that a standard deviation increase in network size—measured by followers, likes and general reach—correlated with 2.1 additional sales over four years and 5.3 fewer DOM. This suggests that having a larger audience can translate into faster and more frequent transactions.

While engagement metrics like comments and likes have some impact on sales, network size had a stronger influence. The study explains that “…prioritizing follower growth and regular posting frequency over engagement optimization provides the strongest returns in terms of market performance.” 

Beyond just selling faster, agents with a strong Instagram presence were also able to extend their geographic market coverage. A standard deviation increase in social media reach correlated with activity in 1.7 more unique sub-areas, meaning that well-connected agents were able to conduct business in a wider range of neighbourhoods.

 

Four types of Instagram agents

 

The study categorized real estate agents into four distinct social media strategy groups:

  • Balanced engagers – moderate following with steady engagement
  • Minimal participants – low follower count, sporadic activity
  • High engagement specialists – moderate following but high engagement
  • Mass following leaders – the biggest networks, highest posting frequency, and the best sales performance

The best-performing agents fell into the “mass following leaders” category, according to the study. This group showed a 15 to 20 per cent higher chance of improving their sales year-over-year compared to those with no social media presence.

 

Social media’s long-term impact

 

The research also highlights a growing trend: social media has become increasingly effective over time. Realtors with an active presence on Instagram saw stronger performance growth after January 2023 compared to earlier periods.

Sam Mehrbod, CEO and co-founder, Roomvu, explains, “It’s surprising that the real impact of social media only started showing up after 2023. Even more surprising is that it took nearly four years for social media to significantly influence listing-side results. This proves social media’s impact isn’t instant—it builds over time.”

This effect was most pronounced in seller-side transactions, reinforcing the idea that Instagram can be an especially powerful tool for listing agents looking to market properties.

“This study makes one thing clear—Realtors need to stay consistent with social media,” Merhbod says. “If you think one viral video will bring you a flood of listings, you’re in for a shock. It takes years of steady posting before you see real, measurable results.”

 

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Lessons in Leadership: Natalka Falcomer on Don Kottick’s secret to success https://realestatemagazine.ca/lessons-in-leadership-natalka-falcomer-on-don-kotticks-secret-to-success/ https://realestatemagazine.ca/lessons-in-leadership-natalka-falcomer-on-don-kotticks-secret-to-success/#respond Thu, 30 Jan 2025 10:03:31 +0000 https://realestatemagazine.ca/?p=37000 Sotheby’s Canada President and CEO, Don Kottick predicts a leaner, more competitive industry in Canada and has advice for those looking to carve a path in real estate

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Effective leadership can make the difference between success and stagnation in an industry as competitive as real estate. Don Kottick, president and CEO of Sotheby’s Canada, has consistently demonstrated the ability to inspire, innovate, and adapt. 

 

“Some of the best lessons in business have come from the worst leaders,”- Don Kottick

 

For Kottick, the cornerstone of leadership is assembling the right team. Reflecting on his experience leading at Sotheby’s, Royal LePage, Johnston & Daniel, Peerage Realty Partners, Right At Home Realty and the Real Estate Institute of Canada (REIC), he emphasizes the importance of trusting your instincts when making hiring decisions. “Your intuition knows,” he says, recounting key hires that transformed teams and drove exceptional results. 

The principle of “getting the right people on the bus,” inspired by Jim Collins’ Good to Great, has been a guiding philosophy throughout his career. Associated with this first principle is the second of “hire slow and fire fast, if they are not the correct individual for the role”.

Beyond hiring, fostering a culture of excellence is paramount. Kottick believes in setting high standards for professionalism and development. “Trust, transparency, and collaboration are crucial to any organization’s success,” he notes. 

He champions open communication and encourages feedback from all stakeholders to stay attuned to the market’s evolving needs and nuances.  Kottick shares, “Some of the best lessons in business have come from the worst leaders, especially those leaders that espouse values that they fail to deliver on.”  

 

Elevating brands to new heights

 

Kottick’s tenure as president at Right at Home Realty demonstrated his focus on branding as a critical component of leadership. Recognizing the need to elevate the brokerage’s reputation in its early days, he worked to position it as a credible and appealing destination for real estate professionals. 

By recruiting and developing a new management team and restructuring the organization, he substantially increased the company’s market share and propelled it to the top brokerage position in the Greater Toronto Area by transaction units. 

Under his leadership, the company improved its national ranking in Canada within two years even though it was a regional player. This focus on branding wasn’t just about perception—it was tied to measurable outcomes that resulted in substantive growth.

 

“Technology should be a competitive differentiator, not a patchwork of disjointed solutions,” – Don Kottick

 

As the real estate industry increasingly intersects with technology, Kottick has been a vocal advocate for thoughtful innovation. At various organizations, he spearheaded the integration of proptech designed to streamline operations and enhance client engagement. 

From virtual tours in the early days of the internet to advanced marketing dashboards, his focus has always been on creating tools that provide real value rather than adopting a scattershot approach.   

As a former director of the Canadian Real Estate Association, he was the leading advocate for more investment in the development and promotion of Realtor.ca in order to combat competition from the USA.

“Technology should be a competitive differentiator, not a patchwork of disjointed solutions,” he explains. This principle has guided his leadership, ensuring that agents have access to resources that empower them to deliver extraordinary client experiences.

 

Navigating change

 

The real estate market is no stranger to upheaval, and Kottick has faced his share of challenges. From economic fluctuations to regulatory shifts, he has led teams through periods of uncertainty by prioritizing adaptability and resilience. “The industry has become more competitive, with a clear flight to quality,” he observes. “Realtors and brokerages that can’t offer measurable advantages are being sidelined.”

To navigate this landscape, Kottick underscores the importance of continuous learning and innovation. Whether introducing new training programs or leveraging emerging technologies, he has consistently championed strategies that prepare teams and Realtors for the future. One such example was bringing the Ninja Selling philosophy and methodology into the culture at Sotheby’s Canada which he says translated in serious productivity improvements. 

 

A vision for the future

 

Looking ahead, Kottick predicts a leaner, more competitive industry In Canada. He sees a future where only those who combine exceptional service, cutting-edge tools, and a commitment to excellence will survive and thrive. 

For aspiring Realtors and brokers, his advice is clear: focus on building relationships, embrace lifelong learning and align yourself with organizations that support your growth and have a strong international brand and presence.

Under Kottick’s leadership at various organizations, the numbers speak for themselves. whether at Johnston & Daniel, Royal LePage, Right at Home or Sotheby’s Canada, he led the teams that drove significant growth. 

More recently at Sotheby’s International Realty Canada, sales volume increased from $4-billion to $10-billion, and the agent population nearly doubled with Kottick at the helm. These results highlight his ability to develop and transform businesses, enhance their market presence, and create lasting equity value for the organizations.

Kottick’s leadership journey offers a blueprint for managerial success in real estate. By prioritizing people, leveraging technology wisely, and remaining adaptable in the face of change, he has not only navigated the complexities of the industry but has also inspired those around him to reach new heights. 

For those focused on building their careers, his approach serves as a powerful reminder that great leadership starts with a commitment to excellence and brand.

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Ethical Dilemmas: The real cost of dual agency https://realestatemagazine.ca/ethical-dilemmas-the-real-cost-of-dual-agency/ https://realestatemagazine.ca/ethical-dilemmas-the-real-cost-of-dual-agency/#comments Wed, 29 Jan 2025 10:05:02 +0000 https://realestatemagazine.ca/?p=36978 Should Realtors bear the full responsibility of dual agency, and how should they balance their fiduciary duties with fair compensation?

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I set out to write an article on the contradictions and complexities of dual agency (sometimes referred to as double ending a deal) in real estate but in reviewing the different court cases and literature, I soon had so many thoughts on paper that I decided to make it a series.
I’ll start by throwing out a few ideas for consideration and in the next few articles I will dive deeper into each idea one by one.

 

“If two consenting adults choose to attempt a transaction through one agent…I argue they should bear more responsibility in the outcome.”

 

Firstly, in researching this, one thing that stood out in all the literature was the singular focus on the actions and responsibilities of the real estate agent with only fleeting enquiries into the behaviour of the parties, both consenting adults. 

As well, I see what appears to be a flaw in the way the law treats dual agency in real estate. There is a major difference between legal disputes and real estate transactions in that when two parties contact lawyers, there is already a dispute between the parties and the lawyers are engaged under the accepted premises of an adversarial process. 

In a real estate transaction, the two parties are generally aiming to conclude a mutually satisfactory transaction (though often each is hoping to come out a little better than the other party). It is usually only after or at the end of the transaction that the situation tends to become adversarial, yet the entire process is legally treated as adversarial from the beginning. If two consenting adults choose to attempt a transaction through one agent, they are doing so in the hopes of gaining some benefit and as long as that consent was given with full and timely disclosure, I argue they should bear more responsibility in the outcome.

This human tendency that aggravates dual agency is, to me, best described in the joke about two horse traders. A fellow comes upon two horse traders arguing. He asks what is wrong and they both say that the other guy ripped them off in a trade of horses. He asks them why they didn’t just trade back then and forget about it. Both reply that they don’t want to get ripped off again. Doesn’t that sum it up so well?

 

“The added risks involved, in my opinion, more than justify the full commission being paid to the one agent, yet both parties often expect a reduction.”

 

Oftentimes, one of the parties, usually the buyer, will request their agent to contact the other party on their behalf in the hopes of effecting the transaction without a second Realtor and expecting you, the agent, to work in their best interests against the other party. There are a few reasons for this, however, the hope that they (the buyer) will come out ahead is not the least of them, and this puts the real estate agent in a very unenviable position. Sometimes, if you don’t do it, the buyer will find someone who will. Additionally, the added risks involved, in my opinion, more than justify the full commission being paid to the one agent, yet both parties often expect a reduction.

Given that both parties are often looking for “a deal,” this puts the agent immediately in a seemingly irreconcilable conflict of interest. Usually, the more sophisticated client is the one initiating the process and their hope of garnering a “deal” diminishes the more the agent provides market information to the other party. So, the more work an agent does, the less the chance of a deal, and the greater chance of not getting paid for doing more (and better!) work. The less work an agent does, the greater the risk of legal liability and sanctions.

 

“Finally, under fiduciary duty, we are expected to place our interests beneath those of our clients.”

 

At this point, I should add that there is nothing illegal or unethical about seeking a “deal.” This is part of human nature, and there is nothing inherently wrong with it. I say this because this conflict is compounded by the fact that the initiating party is often an active investor, the kind of client an agent needs to thrive. The fact that we are in fiduciary relationships per se (fancy legal way of saying by default), precludes agents from favouring the better client in effecting a deal. 

Finally, under fiduciary duty, we are expected to place our interests beneath those of our clients. I find this a curious statement. I have also seen this worded as we are to place our clients’ interests as paramount. This I have no issue with, but the first statement I do because, as worded, it implies we must diminish our interests. 

This begs the question, how far? I expect a) to be remunerated for my efforts, and b) that that remuneration is fair—and I am not prepared to reduce these expectations. Everyone expects this when they go to work in the morning, but am I to diminish these interests? Why? And how much so? 

Stay tuned for more on these thoughts as we do deep dives into each one individually as we explore the wonderful world of dual agency.

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REALTORS® leading the way to a better tomorrow with purpose https://realestatemagazine.ca/realtors-leading-the-way-to-a-better-tomorrow-with-purpose/ https://realestatemagazine.ca/realtors-leading-the-way-to-a-better-tomorrow-with-purpose/#respond Wed, 29 Jan 2025 10:00:16 +0000 https://realestatemagazine.ca/?p=36983 Picture yourself wearing your REALTOR® pin and knowing it represents being part of an industry that is creating a better tomorrow for all.

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REALTORS® are known for being self-starters and go-getters; people persons and relationship builders; expert negotiators and problem solvers; and caring individuals who help their neighbours and support local community groups and charities in countless ways. 

More than 160,000 REALTORS® live and work in communities across Canada. Just imagine if Canadian REALTORS® and the REALTOR® association community were to unite and use their collective expertise and skills to help address some of the most pressing social and environmental challenges together. 

Picture yourself wearing your REALTOR® pin and knowing it represents being part of an industry that is not only making home happen for Canadians but also committed to creating a better tomorrow for all. This is the big idea behind the Canadian Real Estate Association’s (CREA) recent adoption of social purpose, building on the positive contributions REALTORS® are already making every day.

 

About social purpose

 

Social purpose is a growing governance best practice for organizations of all kinds, including associations. Not to be confused with vision or mission statements, legal responsibilities or goals, social purpose is an organization’s reason to exist while optimally contributing to the long-term well-being of all people and the planet. A social purpose statement is tied to the core of the organization and is essential to its culture and how it operates. 

There are many benefits and a strong business case for associations like CREA to be purpose-driven, including: 

  • ensuring long-term relevance; 
  • demonstrating leadership; 
  • raising brand visibility and enhancing reputation; 
  • attracting and engaging members; 
  • fostering collaboration with partners; 
  • attracting board members and staff; and 
  • supporting members in their own quests for purpose.

 

CREA’s new social purpose statement

 

Two years ago, following direction from the CREA Board of Directors, CREA’s ESG (Environmental, Social and Governance) Committee set out to define a social purpose for the association. The Committee engaged leading Canadian social purpose expert Mary Ellen Schaafsma of Purpose Pathways Consulting for guidance and oversaw an eight-month process that involved consultation, discussion, and collaboration with fellow REALTORS®, board and association staff, and external stakeholders. 

Through engaging workshops and interviews, these members and stakeholders were consulted on what CREA and its membership offer the world, what the world needs, and the intersection between the two. They were asked for insights on how CREA could use its core competencies and assets to make the best possible impact for the benefit of its REALTOR® members, their businesses, their communities, and the world around them. The input they provided was analyzed and core themes emerged, which were then refined into an overarching statement and underlying narrative.

In early 2024, CREA unveiled its new social purpose statement: CREA opens doors to thriving futures for all, beginning with home. It’s premised on four fundamental beliefs:

  1. housing is a human right; 
  2. home fosters human dignity and belonging; 
  3. a healthy environment is critical to a thriving future; and 
  4. collaboration is the key to unlocking positive change. 

 

CREA’s purpose journey continues

 

While the activation and integration of CREA’s new social purpose will be a long-term journey, CREA’s volunteer leaders are already appreciating the preliminary impact of this new “North Star” for the association.

For Amar Badh Singh, ESG Committee member, it validates his own personal purpose and strengthens his feeling of connection with the greater REALTOR® community. “For me, being a REALTOR® has always been about more than just helping clients buy and sell homes,” Badh explains. “CREA’s new social purpose really resonates with me and inspires me to continue doing my part to build community rooted in resilience and optimism.”

For James Mabey, CREA Board Chair, social purpose has already proved to be a valuable decision lens and reminder of our association’s values. “Our new social purpose statement helps expand our Board’s thinking about what we REALTORS®, our stakeholders, and our partners can do together to make the positive changes we want to see in the world. We added the social purpose statement at the top of every Board meeting agenda package, apply it to key discussions at the board table, and we’re looking forward to having it front and centre during our strategic planning later this year.”

The announcement of CREA’s new social purpose has also drawn attention from outside of the industry. “CREA has taken a bold step by adopting their new purpose,” says Coro Strandberg, President of Strandberg Consulting and one of the Founders of the Canadian Purpose Economy Project, which aims to accelerate Canada’s transition to the purpose-driven economy. “This could pave the way for social purpose to flourish in the real estate sector, driving social outcomes in communities, one homeowner at a time.”

Learn More

To follow CREA’s social purpose journey and learn about ways to get involved, visit CREA.ca/purpose.

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FCT acquires majority interest in Fintracker https://realestatemagazine.ca/fct-acquires-majority-interest-in-fintracker/ https://realestatemagazine.ca/fct-acquires-majority-interest-in-fintracker/#respond Wed, 29 Jan 2025 10:00:10 +0000 https://realestatemagazine.ca/?p=36993 In a move to tackle one of real estate’s most time-consuming challenges, FCT has acquired a majority stake in Fintracker, a digital ID verification company

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In a major move to tackle one of real estate’s most time-consuming challenges, FCT has acquired a majority stake in Fintracker, a digital identity verification solutions company.

The Oakville-based company announced the news on Jan. 28, saying the partnership is poised to streamline compliance with KYC and anti-money laundering (AML) regulations while enhancing security and efficiency in real estate transactions.

“Fintracker’s advanced identity verification technology, combined and integrated with our trusted services, will help create a more secure, seamless, and fully compliant experience for all stakeholders while shaping the future of connected and intelligent identity verification processes.,” says Michael LeBlanc, CEO, FCT.

Fintracker has contracts with many of Canada’s real estate boards and brokerages, including TRREB subsidiary PropTx. 

 

Why Fintracker?

 

Founded by former Realtor Simon Fiore, Fintracker was born out of a need to simplify the tedious FINTRAC compliance process. In a 2023 interview with Real Estate Magazine, Fiore shared that the idea for Fintracker originated in his Winnipeg brokerage. “I was like many agents struggling with these forms and not handing them in in a timely fashion,” Fiore said. His initial goal was to solve the problem for his own brokerage, but the solution gained traction.

The platform has since evolved into a tool for completing FINTRAC forms, digitizing workflows and reducing the potential for human error. During the pandemic, its ability to facilitate remote identity verification for non-physically present clients made it an important tool for many brokerages.

 

A shared vision for the future

 

With Fintracker’s solutions now integrated into its operations, FCT says its goal is to create a “connected identity ecosystem” that accelerates the home-buying process while safeguarding sensitive personal data. Fintracker’s founders, Fiore and CTO Matt Amihude, will continue leading the company as it expands under FCT’s umbrella.

“Partnering with FCT enables us to scale our mission of simplifying compliance for agents and brokerages across Canada,” says Fiore. “Our shared vision is to minimize friction for both the public and our clients, while raising the bar for KYC and AML compliance. Together, we’re fostering greater trust, transparency, and efficiency in real estate transactions.”

Fiore, who described himself as “the least tech-savvy agent in the country” when he started Fintracker, believes there’s no replacement for human relationships in real estate.

“Technology is always going to try and replace us, but one-on-one and face-to-face interactions, gaining trust and building relationships are still the keys,” Fiore told REM.

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OPINION: AI agents will change real estate—here’s how https://realestatemagazine.ca/opinion-ai-agents-will-change-real-estate-heres-how/ https://realestatemagazine.ca/opinion-ai-agents-will-change-real-estate-heres-how/#comments Tue, 28 Jan 2025 10:05:19 +0000 https://realestatemagazine.ca/?p=36971 "The agents who thrive will be those who embrace this change, adapting their businesses to work seamlessly with AI agents..."

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I experienced something recently that made me rethink the future of our industry. I used an AI agent app to book a haircut, and while that might seem completely unrelated to selling homes, stay with me—because this technology is about to reshape how real estate agents work.

Before we dive into the implications for Realtors, let’s break down what an AI agent actually is, because this is crucial to understanding the coming change in our industry.

 

Siri “on steroids” 

 

An AI agent is essentially a digital assistant that can take real actions on your behalf—not just answer questions or provide information. Imagine, Siri, but on actual steroids. Think of it as having a highly capable personal assistant who can:

  1. Understand your specific requests and preferences
  2. Take concrete actions in the real world (make calls, send emails, book appointments, negotiate…)
  3. Make basic decisions within the boundaries you set
  4. Communicate with other AI agents

 

Here’s a simple example of how it works in practice:

When I needed that haircut, instead of spending time searching, calling, and negotiating, I simply told my AI agent what I wanted. I opened the app and said, “I need a haircut appointment nearby on Friday at 6 pm”.

The agent knew my schedule from my calendar, understood my preferences, and within 10 minutes made actual phone calls with a natural-sounding voice to a whole bunch of hair salons in my area. It handled the entire booking process—calling multiple salons, checking availability and scheduling the appointment.  It even confirmed the pricing.
Within a few minutes, the appointment appeared in my calendar.

 

AI agents could handle scheduling at lightning speeds

 

Now, this example just scratches the surface.  It uses AI and a fancy combination of Google searches to actually make AI voice calls.  I’m sure some of the salons were spooked to hear an AI calling them on my behalf and asking for an appointment, however, most of them interacted with the AI and were more than willing to book the appointment.

But imagine taking things to the next level. Many Realtors struggle with keeping up with phone calls, texts and emails. In an era where clients seek instant gratification, a missed call often equals a missed opportunity. 

The real power comes when businesses also have their own AI agents. Then the interaction becomes lightning-fast. From beginning to end, it too my AI agent seconds to book my haircut and put it in my calendar. 

Now, imagine this same efficiency applied to real estate. Instead of the traditional back-and-forth that can take days or weeks, we’re looking at a future of instant, intelligent interactions between buyers’ AI agents and real estate agents’ AI agents.

 

Five key implications for real estate 

 

1. The evolution of property search and matching

Forget about buyers endlessly scrolling through listings. Soon, a buyer’s AI agent will communicate with multiple Realtors’ AI agents simultaneously, instantly matching properties based on detailed criteria. 

But here’s the key—it won’t just match based on bedrooms and bathrooms. 

AI agents will understand nuanced preferences like “character homes with good natural light” or “quiet street with a strong community feel.” This means agents need to be incredibly thorough in their property documentation and descriptions, making sure their listings communicate both tangible and intangible features in a way AI agents can understand.

 

2. Showings and open houses transform

The traditional open house schedule is about to get a major upgrade. AI agents will coordinate showings by matching multiple buyers’ schedules with agent availability.

Smart agents will need systems that can interface with these AI schedulers to make the showing process nearly frictionless. This will mean the in-person experience becomes even more critical—because when buyers do show up, they’re more likely to be serious and well-matched to the property.

 

3. Local expertise becomes programmable knowledge

Your deep understanding of neighbourhoods, school districts, and local market trends needs to be digitized and structured in a way that AI agents can access and communicate. This isn’t just about writing blog posts—it’s about creating detailed, structured data about neighbourhood characteristics, local amenities, and market insights that can be easily parsed by AI systems. The goal is to make your local expertise programmatically accessible while maintaining its human value.

 

4. Relationship building gets supercharged

When AI handles mundane tasks like scheduling, document collection and initial property matching, agents can focus on what truly matters: building relationships and providing strategic advice. The successful real estate agent of tomorrow will be more advisor than scheduler, using the time freed up by AI to develop deeper client relationships and provide more sophisticated guidance about neighbourhoods, investment potential, and property values.

 

5. Transaction coordination becomes seamless

The days of manually coordinating with stagers, mortgage brokers, and inspectors are numbered. AI agents will handle the complex dance of transaction coordination, automatically scheduling inspections, following up on mortgage approvals, and keeping all parties updated on progress. This means agents need to ensure their transaction management systems can communicate effectively with AI agents while focusing their own time on handling negotiations and solving complex problems.

 

How this could work in practice

 

Let’s envision a typical property search in this new world: You have a buyer who says, “Find me a three-bedroom home with a big back yard, a renovated kitchen, and a finished basement apartment,  in a family-friendly neighbourhood under $800,000 with a good school district.”

Buyer’s AI agent:

  • Analyzes past search and lifestyle preferences
  • Communicates with multiple real estate agents’ AI agents
  • Cross-references school ratings and neighbourhood data
  • Looks through pictures and descriptions to identify a modern kitchen and a finished basement
  • Schedules viewings based on buyer’s calendar
  • Pre-qualifies mortgage options
  • Coordinates with other service providers (inspectors, title companies)

 

Realtor’s AI agent:

  • Matches listings with buyer criteria
  • Provides detailed neighbourhood analysis
  • Schedules and coordinates showings
  • Generates comprehensive property reports
  • Initiates preliminary paperwork
  • Coordinates with seller’s agent AI

This entire initial process could happen in minutes rather than days, freeing up real estate agents to focus on what truly matters—providing strategic advice and guiding clients through the emotional journey of buying or selling a home.

The implications are clear—real estate agents need to start preparing for this shift now. This means:

  • Structuring your listings and market knowledge to be AI-friendly
  • Building systems that can communicate with AI agents
  • Creating detailed, structured content about your local market
  • Developing unique value propositions beyond basic property matching
  • Focusing on the human elements that AI cannot replicate

 

The traditional model of real estate—where success was built on MLS listings and phone calls—is evolving into something more sophisticated. Soon, the first point of contact with a potential client might be your AI agent speaking with theirs. The question is: will your business be ready?

Just like my simple haircut booking experience showed me the future of service scheduling, it’s clear that the industry is heading toward an AI-agent-driven model. The agents who thrive will be those who embrace this change, adapting their businesses to work seamlessly with AI agents while doubling down on the human expertise that no AI can replace.

The future of real estate isn’t just digital—it’s delegated. Those who are preparing will have a significant advantage in this new landscape. Because soon enough, “have your agent call my agent” won’t just be a phrase for Hollywood or haircuts—it’ll be how real estate deals begin.

The time to prepare for this future is now. Are you ready?

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The Real Deal: Industry highlights for January 2025 https://realestatemagazine.ca/the-real-deal-industry-highlights-for-january-2025/ https://realestatemagazine.ca/the-real-deal-industry-highlights-for-january-2025/#respond Tue, 28 Jan 2025 10:02:14 +0000 https://realestatemagazine.ca/?p=36967 Realtor and brokerage updates, along with leadership moves in Canada’s real estate industry: January 2025 edition

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Every month, REM is committed to sharing Realtor moves, brokerage conversions and other notable announcements from the industry. Send your news to editor@realestatemagazine.ca with the subject line “The Real Deal” by the 26th of every month to be considered. Unedited photos are also welcome; please ensure they don’t include branding or other graphics. 

 

Industry moves

 

Royal LePage celebrates new addition

In brokerage news, Royal LePage welcomed its newest addition, Royal LePage Hometown Real Estate, in Alberta. Led by Jean-Luc and Shaylie Lamoureux, the team specializes in residential, recreational, farm, and commercial properties across St. Paul, Elk Point, Bonnyville, Smoky Lake, and Mannville. 

 

Re/Max President Realty expands in Brampton

Re/Max President Realty has opened a second office in Brampton, Ont., near the Mount Pleasant GO Station. The new office offers state-of-the-art facilities designed to foster collaboration and innovation for agents. President and Broker of Record Garry Bhaura says this expansion underscores the company’s commitment to growth and excellence. 

 

Century 21 Masters broadens reach across Alberta

Century 21 Masters has expanded its operations with offices in Edmonton, Calgary, Airdrie, Drumheller, Strathmore, Stony Plain, and St. Albert, reaching over 50 communities across Alberta. The leadership team includes 2024/25 CREA chair James Mabey, Geneva Tetreault, and Bob Sheddy.

 

Living Realty joins Keller Williams

Living Realty, a Markham-based brokerage with 550 agents, is transitioning to Keller Williams (KW) as KW Living Realty. According to a company press release, the brokerage, which has reached over $1.1-billion in sales since 2023, will officially rebrand on Mar. 3. David Wong has been named team leader, while Kelvin Wong will serve as operating principal. 

 

Sutton Group welcomes Kings Cross franchise

Sutton Group has introduced Sutton Group Kings Cross, a new franchise serving King City and Newmarket, Ont. Led by Marc Cioffi, a detective sergeant in his local police force, the brokerage focuses on real estate solutions for first responders. Previously operating as Kinsby Real Estate, the partnership with Sutton includes plans to launch a national first responder program. Cioffi, who transitioned to real estate in 2023.

 

Re/Max Hendriks Team Realty aligns with Re/Max Hallmark

Re/Max Hendriks Team Realty has joined forces with Re/Max Hallmark, the world’s largest Re/Max brokerage. Led by industry veteran Jerry Hendriks, the brokerage will continue to service Ontario’s Niagara and Hamilton regions. 

 

Century 21 Assurance Realty Ltd. expands Into Creston, B.C.

Century 21 Assurance Realty Ltd. has expanded its operations to Creston, B.C., through a merger with the long-standing Century 21 Veitch Realty. The Veitch family has worked in real estate for over five decades in the region. Scott and Shannon Veitch will continue to play key roles in the Creston office. With this addition, Century 21 Assurance Realty now operates offices in Kamloops, Salmon Arm, Vernon, Kelowna, Castlegar, and Creston.

 

Announcements and notable mentions

 

Canadian leaders on the SP 200

Phil Soper, Royal LePage President and CEO, has ranked as the top Canadian leader on T3 Sixty’s Swanepoel Power 200 (SP 200) reaching number 12 on the prestigious list. Chief Operating Officer of Royal LePage, Carolyn Cheng, has also been named for the sixth year in a row (#141). Other notable Canadian leaders on the list include TRREB CEO Jon DiMichele (#53), Re/Max Canada President Christopher Alexander (#55), Century21 President and CEO Martin Charlwood  (#57) and CREA CEO Janice Myers (#161)

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From fixer-upper to fundraiser: How one brokerage is turning renovations into charity https://realestatemagazine.ca/from-fixer-upper-to-fundraiser-how-one-brokerage-is-turning-renovations-into-charity/ https://realestatemagazine.ca/from-fixer-upper-to-fundraiser-how-one-brokerage-is-turning-renovations-into-charity/#comments Mon, 27 Jan 2025 10:05:51 +0000 https://realestatemagazine.ca/?p=36935 A brokerage is taking a charitable approach to flipping after buying a home with the intention of renovating, selling and donating proceeds to charity. 

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The home in Owen Sound will be flipped and sold, with profits going to local charities, source: flippedgreybruce.ca/

You never know when inspiration will strike. Mike Seiler was watching a home renovation show while he and his wife were on holiday when had an idea. With the size of his brokerage, his realtor base and his ties to the community, he wondered: why couldn’t a home be flipped and the proceeds donated to local charities?

Indeed, why not? An energetic, excited Seiler, broker/owner of Century 21 In-Studio Realty Inc. in Owen Sound, Ont., got to work. The realtor, who has about a decade of personal home-flipping experience, spoke to a few colleagues. They loved the idea. Flipping is not new, but involving the community and charities makes this a fresh idea, Seiler says. “I’m notorious for coming up with ideas.”

 

Building a plan to give back

 

He created a business plan, putting his vision on paper. In a nutshell, the plan calls for a house to be purchased (done); renovated with the help of contractors using donated supplies and services in return for advertising/publicity; and cash from the sale to be donated to local charities.

The project relies on getting as much for free as possible—someone donating a product and someone giving their services to install it—in order to make as much for the charities as possible, Seiler says.

His goal is to sell the renovated home for “north of $800,000” with a couple of hundred thousand dollars or more going to the charities.

He and some agents in his office came up with the funds and purchased the house for cash (for an undisclosed amount).

 

Picking the right house 

 

He says the home is an ideal candidate for flipping. It has a “septic that is sized right, a new roof and it’s on a lot that’s over a half acre with mature trees. It’s on Highway 6, a main artery, but is set back from the road.”

The brick bungalow, built around 1978-‘80s, has been home to the second owners for about the last 40 years and shows pride of ownership, Seiler says. However, the renovation will transform its interior.

 

Community collaboration

 

Contractors and suppliers are trading skills/labour/products for advertising that includes being featured in a mini-series on Century 21’s YouTube page, as well as on social media.

Seiler hired two full-time videographers with the hopes that their work will go viral. He says the mini-series will let viewers live vicariously through every contractor and will also include fun time-lapse videos. “If we reach a million viewers, they’re happy and we’re happy.”

Instead of commercials for unrelated products/services, Seiler’s crew will create community spots for those involved with the project to offer them even more value. “We want to shine a light on our contractors and realtors.”

Local planners are on board and a new permit system that makes it easy to pull permits and ensure projects are done the right way will be highlighted, Seiler says. “The show will depict local planners as the superheroes they are.”

The seller is also excited to be involved and will provide some back story about the house in documentary-style interviews, he says. “The (former) homeowner is fuelled up to be part of the project.”

 

The show goes on 

 

Filming began in early January, with good buy-in from Seiler’s brokerage.  “We have north of 40 Realtors and the majority are on board,” he says. (Some bowed out because they are camera shy or were unsure about the type of exposure the show would bring.)

Seiler says it’s important that the project be respectful of everyone involved. “We have zero tolerance for naysayers or those who talk trash on social media.”

The eight-episode video series will be “a mash-up of fun,” with content suited to all ages. It will show homeowners, a target audience that will appreciate knowing how they can get the most from the sale of their house, and how Seiler and his team can help.

 

Adding value beyond the flip

 

“We’re not buying houses,” he says. Instead, “We can help you execute a project like this and make the most money.” 

The YouTube show will premiere on March 14. Episode 1 will include an introduction to the property. Items that can be recycled/reused (the goal is not to just fill a bin, but to find other uses for unneeded items taken out of the house) will be sold at a garage sale at the property on Friday (May 16) of the Victoria Day weekend.

On Saturday, items donated for staging will be sold during an auction run by Easter Seals, Century 21’s long-time charity of choice. Seiler says this event is expected to bring in $20,000 to $50,000.

“We are hoping that we’ll have a firm sale before the auction is over in case the purchaser wants to bid on certain items. We want a clean cash offer, a 30-60 day close and (the buyer to come) with deposit in hand.”

 

A community effort to spread the word

 

The five-month project’s benefiting charities will be announced halfway through the season.

In the meantime, Seiler is encouraging all of his realtors to reach out for publicity about the collaborative project led by the community brokerage. Broker Tim Matthews pitched this story, Seiler says. “Tim is a high performer and a friend.”

For more information about the house, events, sale and tickets, visit the project’s website.

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Calgary market to see sales 20% above long-term trends in 2025: CREB forecast https://realestatemagazine.ca/calgary-market-to-see-sales-20-above-long-term-trends-in-2025-creb-forecast/ https://realestatemagazine.ca/calgary-market-to-see-sales-20-above-long-term-trends-in-2025-creb-forecast/#comments Mon, 27 Jan 2025 10:01:04 +0000 https://realestatemagazine.ca/?p=36933 While Calgary’s population growth and easing lending rates are expected to fuel demand, an influx of new supply will bring balance and temper price growth

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Calgary’s housing market will likely maintain its momentum through 2025, with sales expected 20 per ent above long-term trends, according to the Calgary Real Estate Board’s (CREB) annual forecast. While population growth and easing lending rates are expected to fuel demand, an influx of new supply will bring balance and temper price growth.

“While the market is expected to be more balanced than in recent years, significant economic risks—such as potential tariffs—could impact activity,” says CREB’s Chief Economist Ann-Marie Lurie These risks will be crucial to watch as we navigate through 2025.”

 

Sales stable

 

Similar to 2024, CREB projects over 26,000 homes will be sold this year, with sales in the detached market forecasted to reach 12,600 units.

Similar to other large markets, the condo market faces headwinds. Rising rental vacancies, fueled by an influx of new rental completions, are expected to temper demand for apartments, resulting in a projected 3.5 per cent decline in sales, and a 1.8 per cent drop increase in price.

 

Balancing supply and prices

 

A leading trend for 2025 will be the impact of Calgary’s record-breaking construction activity. By the end of 2024, over 22,500 new homes had been built—half of them apartments. This increased supply has already begun to ease pressures on both sale prices and rent.

Looking ahead, CREB expects the new housing to help stabilize the market. Citywide price growth is forecasted to slow to 3 per cent, down from 2024’s 7 per cent gain. But CREB says to expect varied price trends. 

Lower-priced homes are expected to see steeper increases due to demand and limited supply, while higher-priced homes may face softer growth amid increased competition from newly built units.

Economic and population trends


Alberta’s economy continues to support Calgary’s housing market. Investments in alternative energy, carbon capture, food manufacturing and artificial intelligence are projected to sustain economic growth, even as concerns about potential U.S. tariffs temper optimism. Alberta is forecasted to lead Canada in growth in 2025, with Calgary’s population expected to grow at a rate faster than the provincial average.

Migration levels—both interprovincial and international—will likely ease in 2025 compared to record highs in previous years. Despite this slowdown, population gains are likely to remain a key driver of housing demand.

CREB highlights economic risks such as potential U.S. tariffs and shifting federal energy policies, which could dampen consumer confidence and investment. On the upside, a tariff-free scenario could strengthen Alberta’s economy, leading to higher migration and housing activity than currently forecasted.

Easing lending rates offer more upside potential. Lower borrowing costs could bring more first-time buyers and support higher-than-expected sales, particularly in the detached and semi-detached markets.

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Realtor who took advantage of vulnerable client loses license for “predatory” behaviour: BCFSA https://realestatemagazine.ca/realtor-who-took-advantage-of-vulnerable-client-loses-license-for-predatory-behaviour-bcfsa/ https://realestatemagazine.ca/realtor-who-took-advantage-of-vulnerable-client-loses-license-for-predatory-behaviour-bcfsa/#comments Fri, 24 Jan 2025 10:05:29 +0000 https://realestatemagazine.ca/?p=36901 B.C.’s regulator has issued the maximum penalty to a Realtor it says took advantage of his relationship with a client and manipulated her into selling

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QUICK HITS

 

  • On Jan. 16, BCFSA confirmed B.C. Realtor, Ismail Jamal Jinnah, lost his license and was fined $10,000 after investigators found he manipulated a “vulnerable” client into selling her home.
  • The investigation revealed Jinnah exploited a close personal relationship, pressured the client against her wishes and misled regulators about the nature of their relationship.
  • In addition to the fines and license cancellation, Jinnah has been ordered to pay $67,000 in enforcement expenses.

 

A B.C. Realtor has lost his license and is facing a $10,000 fine after the province’s regulator found he manipulated a client into selling their home.

Ismail Jamal Jinnah behaved in a “predatory” manner when he took advantage of his personal relationship with a client to convince her to sell her home and earn an “above-market” commission, according to a December decision from the BC Financial Services Authority (BCFSA).

 

Summary of misconduct

 

The case centred on two real estate transactions in 2015. Jinnah established a “close, personal relationship” with a client who owned a detached home and despite her opposition, repeatedly pressured her to sell it, advising her it was a smart financial move. Jinnah failed to disclose his personal relationship with the client and convinced her to switch properties with another individual.

According to hearing documents, Jinnah’s client “trusted him, relied upon him, and was reasonably left with the impression that Mr. Jinnah was looking out for her best interests. Rather than looking out for her best interest, Mr. Jinnah refused to accept that (she) did not want to sell her house. He pressured and manipulated her to essentially switch properties…”

Hearing Officer Thelma O’Grady says the former Realtor took advantage of his client, “who, because she was in a close relationship with him and trusted him, was vulnerable. This type of behaviour can only be described as predatory.”

The decision also highlighted Jinnah’s financial gains, which totalled $39,000 in commissions. Additionally, he charged above-market fees without sufficient explanation and failed to adequately market the property, instead selling it directly to the second individual involved.

 

Investigation and regulatory violations

 

During a subsequent investigation in 2021, Jinnah attempted to mislead the regulator by mischaracterizing his relationship with the client. The decision emphasized the deliberate nature of his deception, “Mr. Jinnah’s statements… were a deliberate attempt… to mislead the investigative process.”

Jinnah was found guilty of breaching multiple sections of the Real Estate Services Rules and the Real Estate Services Act (RESA).

 

Impact on client 

 

The misconduct, described by O’Grady as “very serious,” involved Jinnah’s failure to act in the best interests of his client, a breach of conflict-of-interest rules and a deliberate attempt to mislead regulators during the investigation. “Taking advantage of a vulnerable client who is relying on you to act in their best interest is one of the most serious types of misconduct for a real estate licensee,” the decision states.

The decision also noted the emotional and financial harm caused to the client, who suffered anxiety, depression and embarrassment “for letting herself be coerced by Mr. Jinnah.”

“The actions of Jinnah to use a close personal relationship to manipulate a client into selling their home is unacceptable and demonstrates a clear disregard for the established ethical expectations for licensees and the regulatory regime that is designed to protect consumers,” said Jon Vandall, senior vice president of compliance and enforcement at BCFSA. “This behaviour was so predatory and egregious, BCFSA is issuing the maximum penalty available.”

 

Fines and penalties 

 

In addition to cancelling Jinnah’s licence and the $10,000 penalty, Jinnah was also ordered to pay more than $67,000 in enforcement expenses.

“Sanctions should be both protective and preventative,” O’Grady wrote. “They should be aimed first and foremost at achieving compliance and secondly at deterring repeat offences… and by others in the industry or by those considering entering the industry.”

Although Jinnah hasn’t practiced real estate since March 2024, BCFSA confirmed his license had been cancelled on Jan. 16. and that the misconduct would be reflected in his professional record.

 

Implications for the real estate industry

 

“Public interest is served by setting a penalty that communicates to Mr. Jinnah, the public, and other licensees that it is unacceptable for licensees to take advantage of clients and to mislead the regulator during an investigation,” O’Grady concluded.

Jinnah has the right to appeal the decision within 30 days.

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