Consumers need more than basic housing market knowledge from their professional realtor when navigating challenging Canadian real estate market, new study finds.
New consumer survey by RE/MAX reveals that buying and selling in the Canadian housing market is not a simple “transaction,” but a complex negotiation
- Almost half (41 per cent) of Canadians claim they aren’t knowledgeable when it comes to buying or selling real estate
- 91 per cent of Canadians say that when looking for a REALTOR® for outside support, the top must-haves are ethics in business, patience, active listening and empathy
- Eight in 10 Canadians (81 per cent) say that they would be more likely to work with a REALTOR® if they had a certification in professionalism
Toronto, ON and Kelowna, BC, May 26, 2021 – Homebuyers and sellers navigating the Canadian real estate market are in uncharted territory. Not only are they confronting another cycle of rising prices across the country, but historically low interest rates may test their long-term thresholds of affordability. As demand continues to far outstrip supply, none of this will be easily rectified in the short or mid-term.
Adding to these complexities is the unexpected rise of Canadians upending their urban lives in favour of new beginnings in suburban and rural settings, creating a dramatic shift in lifestyle expectations. As many as 35 per cent of RE/MAX brokers across Canada recently indicated that “move-over” buyers from other cities and provinces will continue to spark market activity in 2021.
Given these mounting challenges, it’s not entirely surprising that nearly half (41 per cent) of Canadians claim to not be knowledgeable about the buying and selling process, according to a recent Leger survey commissioned by RE/MAX Canada. Yet, 50 per cent still expressed interest in buying or selling a home using a DIY platform for its perceived efficiency, ease and convenience. But nothing about the current Canadian real estate market is easy, and with affordability issues coupled with the current health and safety measures, going it alone could have unintended consequences.
Get the full story at remax.ca