Opinion: Real estate agents should look for luxury apartments for career advancement
Written for Daily Hive Urbanized by Faith Wilson, Founder and President of Faith Wilson Realty Group under Christie’s International Real Estate.
The world of work is changing; almost everyone can relate to that. The pandemic continues to have a major impact on how — and where — Canadians choose to work. Teleworking is more tangible than ever, hybrid work scenarios are on the rise and people are realizing the importance of work-life balance.
In the face of The Big Quid, many are rethinking who they work for, what’s important to them in a role, and whether they’re willing to quit a job they’re unhappy with. Employees are more aligned with their purpose and need to find work that reflects their values in an industry that shows no signs of slowing down. The real estate market is one such sector.
Despite the impact of a global pandemic, the market in Canada continues to boom and professionals scramble to break into the real estate profession. Last year, there was at least one agent for every 88 adults in the Toronto area. The increased interest in working in the real estate industry has created a mismatch between the number of offers available and the amount of new talent.
Seasoned professionals looking to distance themselves from a saturated market, advance their careers and ultimately specialize in one area may find their niche in BC’s luxury real estate market. This thriving field offers opportunities to compete in a world-class arena while building a personal brand in a high-profile sector.
Be a part of something bigger
In BC alone, the British Columbia Real Estate Association (BCREA) represents over 24,000 commercial and residential real estate agents. However, the number of professionals dedicated to the luxury segment is only a fraction of that number.
As the real estate sector in BC continues to advance, the luxury sector is recognized among the world’s leading markets. In 2015, Vancouver topped the global luxury real estate market with a 24.5% increase in property prices, placing the city ahead of markets in Sydney, Shanghai, Istanbul and Munich, among others.
Nearly a decade later, demand for housing on Canada’s West Coast — and in desirable locations like West Vancouver, the Okanagan, and the luxury resort market in Whistler — remains strong. However, we see smaller centers, where dollars are going further, also gaining traction for luxury shoppers, with opportunities emerging in markets like Northern BC.
flexibility and autonomy
There are many options for experienced real estate agents who are well versed in the industry. At a time when the desire for autonomy and flexibility tops the list of must-haves for workers, the real estate market offers professionals the opportunity to work from anywhere and manage their own clients.
It has been said that 2022 will be “the year of the worker” and against this backdrop employers must do their due diligence to attract and retain talent in a highly competitive market. Friday happy hour and foosball tables in the office are no longer enough to meet the needs of a constantly changing workforce.
Even with a few years of experience, brokers can access top-class offers and then advance their careers.
Build your personal brand in the luxury segment
It would be remiss to think that climbing the career ladder in the industry is easy. Like many professions, this one comes with unique challenges.
Real estate agents dedicated to finding solutions and building their own personal brand see a lot of success. Many have the opportunity to build brands while benefiting from the profile and recognition of a parent brand – without the micromanagement of a traditional company.
The world of work is unlikely to go back to how it used to be, and now may be the best time for a strategic shift. With experienced real estate agents, that means turning to luxury.