About Me

My photo
GTA, Ontario, Canada
A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Thursday, October 5, 2017

Will a cooling Toronto market weed out part-time brokers?

“If less dedicated part-time brokers are being weeded out of the market, it’s for reasons beyond the rule changes of late last year. They have no idea about what is insurable or non-insurable, that refinances can’t be placed in insurance bucket and so can 30-year AMT, that there are different qualifications, interest rates, and so on.

A cooling market wouldn’t be enough to weed these less committed brokers out, as they are only looking at the mortgage business as providing pocket money or extra cash. This would requireonly one deal a month – or perhaps per quarter – which is easily attainable.”

Paul Mangion
Principal broker/partner
The Mortgage Centre
M.O.S. MortgageOne Solutions

“There will always be people who try to follow the quick money. Now that there is no quick money, agents will need to use their experience, skills and some hard work. Since many quick-money agents don’t possess these skills and only work in easy markets, I suspect we will see many mortgage and real estate agents leave the industry.

This is an unfortunate but necessary purging of poor agents. Higher standards and better education for new agents will help reduce the size and frequency

Dustan Woodhouse
Mortgage broker
DLC Canadian Mortgage Experts

“I would suggest that a cooling market is not really required when it comes to weeding out less dedicated part-time brokers – the rule changes of October 3 already did that to some extent, I am sure. The actual work of a broker is more complex than ever, and it requires dedicated investment of time and energy.

Speculative stats indicate that nearly 5,000 new agents will be licensed in 2017, and perhaps 250 will renew their licenses the year after. In BC, the attrition rate is 85%; it sounds like it is pushing 97.5% in Ontario.”

MBN

We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.

Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to assist you, family members and friends with all your real estate needs. Referrals are always welcome!

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)