Real estate agents, brokers, appraisers and other real estate activities, 2015
Operating revenue for the real estate agents and brokers industry group grew by 7.2% in 2015 to $11.9 billion.
During the same period, operating expenses were up 7.3% to $8.7 billion as the operating profit margin held steady at 27.0% in 2015.
Ontario real estate agents and brokers generated $6.3 billion in operating revenue in 2015, up 9.9% from 2014. Operating revenue in British Columbia increased 21.2% to $2.1 billion in 2015, as housing prices in the second largest market reached record highs.
Coinciding with a decline in the oil industry, operating revenue in Alberta decreased 13.2% in 2015 to $1.3 billion. Over the same period, businesses in Saskatchewan reported a 6.6% decline in their operating revenue to $185.0 million.
Subcontract expenses, which include the commission expenses paid to other brokers, accounted for the largest share of the industry's operating expenses at 37.9% in 2015, up from 36.0% in 2014.
Salaries, wages, commissions and benefits edged down 0.1% from a year earlier to $1.1 billion in 2015, accounting for 13.1% of total operating expenses.
Operating revenue for the real estate appraisers industry rose by 4.3% to $605.5 million in 2015. Operating expenses for the industry grew by 2.4% to $495.1 million, as the operating profit margin increased from 16.7% in 2014 to 18.2% in 2015.
Note to readers
Data for 2014 has been revised.
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca) or Media Relations (613-951-4636; STATCAN.mediahotline-ligneinfomedias.STATCAN@canada.ca).
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