Real estate agents, brokers, appraisers and other real estate activities, 2017
Operating revenue for the Canadian real estate agents and brokers industry rose 8.5% to $15.0 billion in 2017. Businesses in Ontario (+10.3%) and British Columbia (+7.0%) accounted for most of the increase and 75.8% of the national revenue.
Operating revenue grew more slowly in 2017 than in 2016 (+15.4%). In part, the introduction of the Fair Housing plan in Ontario and two national mortgage rate increases in 2017 dampened housing market sales.
In 2017, operating expenses for the real estate agents and brokers industry increased 9.0% to $10.6 billion. Subcontract expenses, which include commission expenses paid to other brokers, represented the largest share of total operating expenses (38.4%). Salaries, wages, commissions and benefits accounted for 14.4% of the total.
The operating profit margin for this industry edged down from 29.3% in 2016 to 29.0% in 2017.
Note to readers
Data for 2015 and 2016 have been revised.
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