Industry Overview


2020 Market Forecast   

We have seen a positive year throughout the spring and summer for both Toronto and the nearby real estate markets. With the buyer incentives coming from the government we have seen the resurgence of the strong market for both buyers and homeowners. Paired with the new townhome developments building out in the Durham Region this is the perfect time for first time buyers to get into the market and for current homeowners to start their new journey. 

Challenges 

While real estate is an extremely lucrative career there can be some challenges along the way. You need to be self-driven in this career as it is completely commission-based. You also need to have a base of knowledge when it comes to homes and the real estate market in general. Although the market is strong it takes passion and knowledge to be a great realtor. 

Opportunities 

You’re in luck! Real estate is one of the few industries with more opportunity than it knows what to do with. Especially with the current growth in the market throughout the last few months and the strong outlook for the months coming. 

Realtors Rank #5 in Sales & Marketing Jobs

5th Most Fulfilling Sales/ Marketing Career

2019 Industry Stats

%

Selling To Listing Price

Average Days On Market

%

Yearly Change

Daily Activities Of A Realtor

Building Your Clientbase

The top 10% realtors spend 10 hours a week looking for new clients. While the average realtor spends about 3 hours a week. 

Processing Residential Transactions

The average house takes 2 months to complete the transaction. The average offer however only takes 2 weeks. Throughout the process, a realtor needs to make sure all the parties are secured to complete the purchase/sale. 

Marketing Strategy

A realtors marketing strategy is crucial to their success. The average realtor spends 10% of their income on marketing and sales generating tasks. This includes business cards, websites, handouts, social media, and more. Century 21 offers a ton of free marketing materials to their agents.

  • From previous client referrals  35%
  • From Friends & Family 30%
  • From Open Houses  15%
  • From Online Marketing 10%
  • From Print Ad Marketing 10%

Building A Client Base In Real Estate

It only takes about 1-2 years to build a solid sphere of influence that you can build on for clients. Realtors start seeing clients within a few months of starting their career, and after a year your client base naturally will grow on its own. 

These are the most popular methods to gain new clients. However, the best marketing strategy is utilizing a variety of these methods to increase your exposure to your client base.