Friday, September 26, 2008

20,000 Agents Under the Sea?

You are standing at Canada Place on the Vancouver waterfront, enjoying a Starbucks imitation Blenz coffee and reflecting on news that will send shock waves through an entire industry. dropped an information bomb this week that has news agencies scrambling to report on its implications. According to Director of Partnerships, Walter Melanson, as many as 20,000 real estate agents in Canada will be out of work within the next 24 to 36 months. The way Melanson sees it, free-flying days of 'stick a sign in the ground and it's sold' are long gone, replaced by a new reality of a more balanced market that sees agents squeezed out from their arguably bloated ranks. And Melanson should know as, Canada's leaders in the emerging Private Sale industry gain more traction each month, catering to public perceptions about the value agents represent in the real estate supply chain. For the entire release, just go to Canada News Wire by clicking here:

I don't know if its coincidence or not, but just for fun I went to You Tube this morning - punched in "Realtors" and this is what came up:

With apologies to late 49'ers coach, Bill Walsh, (The "Rock Stars of Franchising") are employing their own version of a West Coast offense this week in Vancouver. Melanson, along with Ken LeBlanc and the author of "The Wealthy HomeSeller", Dale Betts are appearing at the Canadian Franchise Association Show, Saturday and Sunday (Sept. 27/28) at the Sheraton Wall Centre in downtown Vancouver to meet with prospective business partners, interested in knowing more about the seismic shift taking place in the multi-billion dollar Canadian real estate industry.

But the real question on my mind this morning is whether Walter Melanson is the real estate industry's equivalent to Jules Verne who chronicled the adventures of outlaw submarine captains as far back as 1870 - long before subs became commonplace. In fact, Verne's novels contained startlingly accurate anticipations of modern times with passages predicting air conditioning, automobiles, the Internet, television, space travel, helicopters, jukeboxes and more.

Does Walter Melanson, a guy who grew up on Canada's east coast, know something most of us don't, when it comes to the future of real estate in this country? And how it will be bought and sold five to ten years from now?

What do you think?

"The natives over there are cannibals. They eat liars with the same enthusiasm as they eat honest men" CAPTAIN NEMO


Rick Nicholson said...

Robert Reich, former Secretary of Labor in the US (1993-1997)was on Conan O'Brien last night. He said that there is 1% of Americans currently controlling 20% of the wealth. It's traditionally 8%. It hasn't been this high since 1928.

Why is this relevant? The economic downturn is inevitable, despite Bush's $700 Million donation. No matter what we want to think, Canada will be affected by our neighbors illness.

So as we get a touch of the cough, we know that some will die, some will become weak, and some will get stronger. PG is poised to be very strong with your help.

Walter may have hit it right on the head. Only time will tell...

Gair Maxwell said...

Interesting thoughts on this subject Rick ... will be even more interesting to see what unfolds after todays news.

Is it a bad thing to see all this upheaveal? I'm not so sure it's a bad thing at all anytime forces of change converge to trim the fat in any sector ...

What do you think?