« Toronto Real Estate Trends | Main | Canadian homes prices down 5.4% »

Toronto Real Estate Board's AGM

A panel of real estate industry experts says: The resale housing market in the Greater Toronto Area is still heathy.

More than 1,100 Greater Toronto Area realtors gathered to hear some of Canada's top real estate industry experts talk about the future of the housing market at the Toronto Real Estate Board's 88th Annual General Meeting on October 27th.

Much of their discussion was focused on current market conditions, with panelists attributing a recent dip in the Toronto area  resale housing market to waning consumer confidence.

"People are mislead by the media," said Living Realty's Stephen Wong. "We don't have a problem; it's being self-inflicted."

Panelists also agreed that while a return to robust conditions may not be seen until 2010, the market continues to be balanced and supported by the economic fundamentals of strong employment and immigration, and historically low interest rates.

In addition, Royal LePage's Phil Soper noted that unlike other major cities, the GTA has not experienced artificially inflated house prices.

"We're going through a time of general economic malaise but it is not going to be prolonged and in the housing market we're not going to see a reset because it wasn't off in the first place," he said.

TREB President Maureen O'Neill's speech focused on raising the bar with respect to professionalism, an idea that was echoed by Michael Polzler of RE/MAX Ontario-Atlantic.

"This is a time for professional realtors who know the business and all aspects of it, to lead people through complicated transactions," he said.

Panelists concluded their discussion by pledging to support organized real estate's lobbying efforts against unrealistic regulatory expectations and unfair taxes, like the Toronto Land Transfer Tax.

"This event's incredible turnout demonstrates realtors genuine desire to continuously improve in order to provide the highest level of service to their clients," said Ms. O'Neill. "We're also delighted to have received the full support of Canada's largest real estate companies as we continue our efforts to advocate on behalf of GTA property owners."

The panel on the future of real estate included:

Don Lawby, President and Chief Operating Officer
Century 21 Canada Limited Partnership

Gary Hockey, President
Coldwell Banker Canada

Kimberly Fleming, Regional Director, Canada
Prudential Real Estate Affiliates

Howard Drukarsh, Vice-President
Right at Home Realty Inc.

Phil Soper, President and Chief Executive Officer
Royal LePage Real Estate Services Ltd.

Stephen Wong, Chairman
Living Realty Inc.

Michael Polzler, Regional Director and Executive Vice President
RE/MAX Ontario-Atlantic Canada

Andrew Cimerman, Chief Executive Officer and Founder
HomeLife Realty Services

October 30, 2008 in Toronto Real Estate Board | Permalink


TrackBack URL for this entry:

Listed below are links to weblogs that reference Toronto Real Estate Board's AGM:


Hello eveyone, I'm new to the forum
I look forward to sharing and exchanging information with everyone!
I have been watching the forum for a while and I just decided to join and participate!
My expertise is in lease option / lease purchase homes but, If anyone has any real estate related questions, feel free to tap me. http://theleaseoptionking.com - http://theleaseoptionking.com/images/leasepurchasehomes.gif

Posted by: Orienserace | Feb 20, 2009 8:11:47 PM

Hi I found an awesome way to sell your house and get paid for it !

Ebay pays me to list my house infact they pay me $1000 each month the house is up and listed on ebay I dont even have to sell it , the longer it stays up the more I am earning,
What I did was list my sisters house, my house and my moms to see if they would pay more and sure enough last month Ebay gave me $3000. This works for realtors as well as the avg person who only has one home to sell

The only thing that I needed was to have a Ebay sellers account and yes there is a catch You have to call or email me to find out what it is, BUT I promise you this there is no MOney that you have to pay in order to do this .

Anyone can do this so call me at my house my number is 386-313-6801 my name it Todd and yes im for real and I dont bite , unless your a single woman who wants me to bite ya lol

Anyways here is my email address too: [email protected]

Thanks for viewing this message

Posted by: Henecefsdus | Jan 16, 2009 8:33:57 PM

Hello who is intrested in listing a house or land for sale on ebay? I do it for FREE doesnt cost me a dime to do this and i keep the auction up til the house is sold.
What you need is a ebay sellers account to start off with, a house or land that can be legally sold and the ability to follow instructions its really easy. Dont worry Your not
Auctioning off the house your Listing it up at what the owners want for te propert to begin with. You see ebay offers the classified way of listing on ebay another words you
are able to show the house on ebay just like if it was on your website.

Now what you do is create a nice description of the House and get as many pics as possible and send them to this guy [email protected] flagleronline.net I seperated the email address so that
spammers dont pick up the email and spam the poor guy, now Jack creates a nice auction for me and sends me back the auction all ready to place up on ebay and if i need help with anything
he is always on yahoo messenger to help me out with any questions i have .

Now In exchange for allowing Jack to put a page counter in the auction which basically tells you how many people have visited your auction he pays you a monthly amount to my paypal accout
for every day i keep the auction running, some times its a $1 per day sometimes its $50 per day depending on how many visitors have gone to my auction that have purchased something on ebay.

Oh let me back up you will also need a paypal account so Jack can send you the money every month, but he will also send you a daily, weekly or monthly report on your earnings as well.

Dont believe me think Im lying or a spammer how about you let me prove it to you , what do you say? You dont have anything to lose just instant message me my info is in the profile on how to contact me via
instant messenger or pm or email me and we can talk and show you how it really is true you can list anything on ebay for free and even get paid for doing so.

Posted by: Unlanonournen | Dec 10, 2008 11:22:44 AM

What' s median income in GTA? How many jobs will be kept in tomorrow's depression? How many builders will dump their inventory on the market? RE leaches will die, most of them have no savings, no EI, worst than that- they "invested" massively in RE themselves.

Posted by: goblin | Nov 1, 2008 9:16:55 PM

Everyone expected the market to slow down eventually. The economic environment could not sustain the growth achieved over the past few years.

This slow down will make all realtors more assertive and resourceful when trying to gain the advantage when selling properties - some are even predicting a large # of part-timers will leave the industry.

Posted by: MeSellingProperty.com | Oct 30, 2008 8:51:34 PM

The comments to this entry are closed.


Thank you for visiting!