By Jennifer KooninThe real estate agents who make up the Canadian market have become an important part of our everyday lives, and the role they play is increasingly important.
But it can be difficult for them to understand how it all works and what their responsibilities are.
This month, the Real Estate Council of Canada released a new guide for agents that explains how to run a successful real estate business, and it’s a big step in the right direction.
Real estate agents have long been a vital part of Canada’s economy, but in the past few years, they have become increasingly important in the market.
That has prompted concerns about the quality of the work they do, as well as the level of responsibility they have for clients.
The new guide is a response to growing concerns about agents, who now make up almost 20 per cent of Canada-wide real estate transactions, according to the Canadian Real Estate Association (CREA).
The CREA has long been concerned that the current system is not working for both the industry and the people it employs, and that the agency market is becoming too rigid and bureaucratic.
The guide, entitled “Building a Career in Real Estate: A Guide for Agents and their Families”, was created to help agents understand how to do the work that matters most to them.
It’s a huge step forward in the industry’s ability to meet the needs of the Canadian real estate market.
While the guide is aimed at the public at large, it will be particularly useful for agents who work with smaller companies and individuals, such as those in the hospitality industry, to better understand how they can best operate their business and get the best out of their clients.
“I think agents are often surprised when they come into the industry with this kind of knowledge, and they’re really excited to get to know their colleagues,” says CREA CEO Julie Ouellette.
“But I also think it’s important that people who are just starting out know that they can do a lot more than just work on behalf of the real estate broker or agent, that they have an opportunity to contribute to the community.”
The guide includes guidance on how to meet client expectations, set a clear career path and find a team that can help you succeed, as the realtors explain in the guide.
Agents who have a background in finance, accounting, marketing and communications, or who have been working in real estate for a long time will find a lot to like in the guidelines.
While some agents have come to see the guide as a step in their career progression, others have questioned the importance of such a document.
“A lot of agents are reluctant to go into the business because they feel like they don’t have much of a skill set,” says Chris Koon, a partner at the realtor-turned-advisor agency Koon & Co. “I think it was a very good step in that direction, but I also feel like it was written for people who don’t necessarily want to learn any new skills.”
The realtor’s guide is available in English and French and can be purchased through the CREA’s online store or by calling 1-800-933-7700.