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Real Estate Revenue Increase

Blog by Ian Watt | October 11th, 2006

Real estate revenues up in 2004
New report from Statistics Canada

Statistics Canada reports total revenue reported by real estate agents, brokers, appraisers and other real estate industries increased sharply in 2004, reflecting the continued upward trend in residential real estate markets across the country.

Total revenue for these industries was up 11.4 per cent to $8.9 billion in 2004. This growth reflects an increase in sales and higher real estate prices. Ontario continued to account for the bulk of the industry with 52 per cent of total revenue, followed by British Columbia with 19 per cent and Quebec with 13.4 per cent.

The offices of real estate agents and Brokers accounted for 88 per cent of the total revenue. Statistics Canada reports operating revenue of $7.8 billion and expenses of $5.1 billion for these offices, for an operating profit margin of 34.5 per cent. (CREA 01/02/2006)