Vancouver/Fraser Valley – Data compiled by Roomvu, a Vancouver-based real estate marketing and analytics firm, that shows that the number of realtors in the Greater Vancouver area nearly doubled from 2000 to 2017.
Roomvu’s team of data scientists, in collaboration with UBC Sauder School of Business, showed that there were nearly 7,000 realtors operating in Metro Vancouver in the year 2000. Seventeen years later, that number had jumped to 13,000, with numbers increasing each year apart from a small decrease in 2008.
Sam Mehrbod CEO of Roomvu and Ph.D. researchers at UBC, said that this increase, though staggering, seems to correlate with Vancouver’s every-hot housing market.
“Cities like Vancouver, where housing is expensive, have a higher number of realtors than cities like Halifax, for example,” explained Sam Merhrbod, CEO of Roomvu, and a realtor in the Greater Vancouver Area. “As home prices go up, so does the financial incentive to take advantage of higher commission prices.”
However, despite the dramatic increase, the years 2018 and 2019 (so far) we have actually seen a decrease in the number of agents for the first time since 2008 and only the second and third time this century.
The entire article based on the research, for your publishing consideration, can be found here: The Number of Realtors Declined in 2018 for the first time since 2008.
Sam Merhbod and his team are available for interviews to add further insight to these and many other Vancouver housing-market trends.
In Roomvu’s subsequent article, we found that in Ottawa there is 1 realtor for every 496 citizens, whereas, in Langley, there is 1 for every 6.
