2020 KICK-OFF ROYAL LEPAGE - PHIL SOPER, PRESIDENT & CEO - MCGEES REAL ESTATE
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Royal LePage
2020 KICK-OFF
Phil Soper, President & CEO
New Year. New Decade. New Opportunities!
The Nation’s
LARGEST
Real Estate Firm
We’ve grown by thousands
over the past decade and
are now over
18,000
REALTORS®
STRONG
We participate in more than That’s
of ALL Canadian
transactional dollar volume BILLION
of transactional dollar volume
Let’s talk about… CANADA!
# BEST
COUNTRY
GLOBALLY*
QUALITY OF LIFE
4 years in a row!
*2019 Best Countries Rankings by
U.S. News and World Report
5 CALGARY 9 Copenhagen
│
7
│
6 │
VANCOUVER
│
1
│
Vienna
Tokyo
│
7 TORONTO 4 │
Osaka
Home to some of the most livable cities globally
Three Canadian cities placed in the Economist’s
2019 Top 10 Most Livable Cities Globally 3 Sydney
10 Adelaide ―
│
2 │
Melbourne
CANADA’S HOMEOWNERSHIP
RATE IS ONE OF THE HIGHEST
IN THE WORLD Homeownership Rate: Canada and U.S.
Owner households as a % of total households
68%
63%
Canada U.S.
Canada’s cities rank near Homeownership Rates for Major Global Cities
the top globally for 80
73 Owner households as a % of total households
70 66.5
home ownership 60
63.7 63.5 62.4
61
59.1
55.7
53.5
51.1
About double 50
49.2 47.7 47.5
44.6
Euro cities 40 37.2
33.2
30
20
10
0
Data: Auklland, Tokyo, Berlin 2013 , Paris 2015, London, Hong Kong 2017, all other cities 2016
Source: RBC Economics Research
Edmonton
Ottawa
Calgary
Winnipeg
Kelowna
Canada’s cities are A BARGAIN in global terms
Reykjavik
Montreal
Los Angeles
(Price 970 sq.ft./90 sq.m. condo as a multiple of income - 2019)
Victoria
San Francisco
Zurich
Dublin
New York
Berlin
Sydney
Oslo
Vienna
Barcelona
Toronto
Tokyo
Vancouver
Prague
https://www.numbeo.com/property-investment/rankings_current.jsp
Moscow
Rome
Paris
Seoul
Tel Aviv
Singapore
London
Bangkok
Mumbai
Shanghai
Beijing
Hong Kong
50
45
40
35
30
25
20
15
10
5
0How is the Canadian real estate market performing?
Sales Activity is Increasing in Almost All of
Canada’s Largest Urban Markets
SALES VOLUME*: November 2019 Y/Y
+55.2% +13.4% +10.7% +12.8%
VANCOUVER CALGARY TORONTO OTTAWA MONTREAL
-3.1%
*CREA: Actual, not seasonally adjustedLow interest rates and strong employment continue to
buoy consumer confidence and support our recovering
real estate market
MEDIAN SALE PRICE: Q4 2019 over Q4 2018 +6.3%
+4.8% +5.3%
VANCOUVER CALGARY TORONTO OTTAWA MONTREAL
-4.8% -2.3%
Royal LePage Q4 2019 House Price CompositeCanadian Market to Appreciate 3.2% in 2020
6.00%
5.50%
5.00% 4.75%
4.50%
4.00%
3.20%
3.00%
Aggregate
Condo Apartment
Standard Two Storey
2.00% 1.75%
1.50% 1.50%
1.00%
1.00%
0.00% 0.00%
0.00%
Canada GTA GMA GVA Ottawa Calgary Edmonton Halifax Winnipeg Regina
-1.00%
Royal LePage 2020 Market Survey ForecastCanadian Employment Remains Strong
19500
320,000 new jobs in 2019
…most were full-time
19000
18500
Seasonally adjusted
Trend-cycle
18000
Employment, thousands
17500
17000
Jan-15
Mar-15
Jul-15
Nov-15
Jan-16
Mar-16
Jul-16
Nov-16
Jan-17
Mar-17
Jul-17
Nov-17
Jan-18
Mar-18
Jul-18
Nov-18
Jan-19
Mar-19
Jul-19
Nov-19
May-15
Sep-15
May-16
Sep-16
May-17
Sep-17
May-18
Sep-18
May-19
Sep-19
Source: Table 14-10-0287-01 (formerly CANSIM table 282-0087) *December 2018 to December 2019Canada Wins on Opportunity & Engagement
highest labour force participation rate of all G7 countries
Labour Force Participation Rate (Age 15+), %
70
Why?
65 Education &
U.K. Careers for
60 Japan Women!
Germany
55
France
50
Italy
45
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source The World Bank. International Labour Organization, ILOSTAT database25
BANK OF CANADA OVERNIGHT RATE
20
15
10
Rates remain low 5
aiding affordability 0
Jan-80 Jan-85 Jan-90 Jan-95 Jan-00 Jan-05 Jan-10 Jan-15 Jan-20CANADIAN MORTGAGE DEFAULT IS
VERY LOW AND DECLINING
12.00 11.54
10.36 10.35
9.75
10.00
7.96
7.77
8.00
6.23
6.00
4.79
3.91
4.00 3.67
3.48
2.69
2.00
0.33 0.45 0.43 0.38 0.33 0.32 0.29 0.27 0.28 0.24 0.24 0.23
0.00
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
USA Canada
Source: Federal Reserve Economic Data. Canadian Bankers Association.HOUSING INVENTORY AT 15-YEAR LOW
Addressing housing supply shortages, especially in our
large cities, remains a critical social and economic issue
Source: CREA Statistics December 201940% 23%
39% 34%
37% 34%
35%
34% 32%
28%
35% (5.2 Million) of Canadian Households
Have Moved Within the Last 5 Years Source: Statistics Canada. Canadian Housing Survey 2018TOP 5 REASONS FOR MOVING
1. To upgrade to a larger or better
quality dwelling (1,427,800)
2. To be in a more desirable
neighbourhood (1,036,700)
3. To become a homeowner
(939,500)
4. Because of a change in
household or family size (926,200)
5. To reduce housing costs
(741,400)
35% (5.2 Million) of Canadian Households
Have Moved Within the Last 5 Years Source: Statistics Canada. Canadian Housing Survey 2018WHERE DID HOUSEHOLDS
MOVE FROM?
35%
from a Different
City in Canada
61%
from the
Same City 4%
from Outside
Canada
35% (5.2 Million) of Canadian Households
Have Moved Within the Last 5 Years Source: Statistics Canada. Canadian Housing Survey 2018ROYAL LEPAGE INTERNATIONAL REACH
Global Referral 2,300 Millions
Network of visit 150 Countries
Offices
royallepage.ca Worldwide
77,000+
Video and social shareables
available on rlpNetworkWhy is the demand for housing so great in Canada?
IMMIGRATION
3 Important Drivers
of NEW Housing Demand in Canada
MILLENNIAL
ARRIVAL
BABY BOOMER
TIPPING POINT3 Important Drivers
IMMIGRATION
of 3 Important
NEW Housing DemandDrivers
in
Canada
of NEW Housing Demand in Canada
IMMIGRATION
MILLENNIAL MILLENNIAL ARRIVAL
ARRIVAL
BABY BOOMER TIPPING POINT
BABY BOOMER
TIPPING POINT2018 Pop. Growth % Y/Y
G7 & Top 10 GDP Countries Globally
CANADA +1.4%
Greatest Population Growth
India +1.0%
Brazil +0.8%
Canada’s U.S.A. +0.6%
Population U.K. +0.6%
Growth = China +0.5%
A DYNAMIC, Germany +0.3%
GROWING REAL France +0.2%
Italy
ESTATE INDUSTRY
-0.2%
Japan -0.2%
Source: The World Bank Group, 2019IMMIGRANTS TO CANADA CANADIAN HOMEOWNERSHIP RATES
by immigration status, %
VALUE HOMEOWNERSHIP
All Households 67.8%
Immigrants and Non-Immigrants
have similar homeownership rates Non-Immigrants 69.3%
All Immigrants 68.7%
Landed Before 2011 72.3%
Newcomers (Landed 2011-16) 34.6%620,000 newcomers will purchase a property over
the next 5 years: 1 in 5 home sales
buy property
75% 55% within
3 years after 75%
come with arriving do not consider
savings that
allow them to the U.S. prior to
purchase a home arriving in CanadaHow do new arrivals find
their real estate agent?
Friends and
51% family
20% Online through
real estate listings
Online advertising
13% Online agent
advertising
12% Open houses
11% For sale signs3 Important Drivers of NEW Housing Demand in Canada IMMIGRATION MILLENNIAL ARRIVAL BABY BOOMER TIPPING POINT
MILLENNIALS ARE THE
LARGEST POPULATION
COHORT IN CANADIAN AND
NORTH AMERICAN HISTORY:
OVER 10M PEOPLE
Millennials have 30%
higher after-tax
household incomes
than Gen-Xers at
same age
Source: Statistics CanadaMILLENNIALS ARE THE
LARGEST POPULATION
COHORT IN CANADIAN AND
NORTH AMERICAN HISTORY:
OVER 10M PEOPLE
87%
believe homeownership
is a good investment
Source: Royal LePage Peak Millennial Survey 201780 78.8%
76.3%
73.3%
75.0% 74.6%
Millennials are entering the 70
69.3%
housing market at similar rates as 60
66.3%
previous generations 58.6%
50
More than 40% of Canadian 40
Homeownership Rate by Age Cohort
Households that are owners as % of total households, 2016
households under 35 years of age 43.1%
own their own homes 30 34.5%
20
Under 35 35 - 44 45 - 54 55 - 64 65+
Canada U.S.
Source: RBC Economics Research, Statistics Canada, US Census Bureau80 78.8%
76.3%
73.3%
75.0% 74.6%
Millennials are entering the 70
69.3%
housing market at similar rates as 66.3%
69% HOME IN THE NEXT
HOPE TO OWN A
61% WOULD CONSIDER
60
previous generations 58.6%
50 RELOCATING TO
More than 40%
FIVEofYEARS
Canadian 40
Homeownership Rate by Age Cohort
PURCHASE A HOME
Households that are owners as % of total households, 2016
households under 35 years of age 43.1%
own their own homes 30 34.5%
20
Under 35 35 - 44 45 - 54 55 - 64 65+
Canada U.S.
Source: Royal LePage Peak Millennial Survey 20173 Important Drivers of NEW Housing Demand in Canada IMMIGRATION MILLENNIAL ARRIVAL BABY BOOMER TIPPING POINT
Every week In the 2020’s, annual
5000
Baby Boomers 52%
retirements to reach
retiring Jump in
retirement
~300,000
That’s 250,000 in 2019 2000 to 2020
Source: Statistics CanadaEvery week almost Over the next 7next home
to 8 years,
1.4M5000
to purchase a
home in next
1/3
52%
52% samearesize
annual retirements
expected toor reach
larger
5 years
Baby Boomers are
retiring looking
Jump in for
retirement from
285,000
a Condo
That’s 250,000 in 2019 20 years ago
Source: Royal LePage
Source:Boomer Survey
Statistics 2018
CanadaHOW DO WE TAKE ADVANTAGE OF THE BEST PLACE IN THE WORLD TO PRACTICE REAL ESTATE? BY GENERATING AWARENESS & LEADS
GENERATING 3X THE AVERAGE
CLICKTHROUGH RATE
ALWAYS ON
DIGITAL MARKETING
CAMPAIGN 2019 │ 2020
FACEBOOK INSTAGRAM YOUTUBEThe Voice of Canadian Real Estate
Consistently the most quoted real estate firm in Canada
4 BILLION
Media Impressions
2019
1.5 BILLION MORE
than our closest competitor54M
REAL
ESTATE
COMPANY
VISITS/YEAR
220K
LEADS/YEAR
WEBSITE$ DRIVING SELLER & BUYER LEADS
WHAT’S MY HOME
WORTH?
$
new on royallepage.ca
Generating more SELLER leadsHOME PRICE HEATMAPS ON ROYALLEPAGE.CA
✔SOLD DATA
new on
royallepage.ca
• Currently available
for properties in
Nova Scotia and
PEI (not including
Cape Breton) and
OREB/Ottawa
• ORTIS,
CREB/Calgary
coming Q1
• Edmonton, New
Brunswick & St.
John’s NF will followSCHOOL SEARCH on royallepage.ca Find Homes in the School Catchment Area of Interest
TRAVEL TIME SEARCH
INDUSTRY-LEADING PRODUCTS & SERVICES
● rlpNetwork Teams tab
launched - tools, resources
and templates for those
thinking of starting a team
through to hiring, managing
and growing a team,
including
● Hiring process guide
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● Job descriptions
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and more
● HRdownloads for teams is
now availableCUSTOMIZABLE BOOKLET WITH SPECIAL OFFERS, DISCOUNTS & HOMEOWNER TIPS FOR YOUR CLIENTS
Leverage our national scale
You Move Me WOW 1 DAY PAINTING
* *Suppliers and their offerings are subject to change.Leverage our national scale
NEW
You Move Me WOW 1 DAY PAINTING
* *Suppliers and their offerings are subject to change.3RD IN CANADA*
351
Royal LePage Commercial Colliers
CBRE Cushman & Wakefield
Avison Young
*By total agent count
___________________________________________________________________
REALTOR® count is current as at March 31, 201913%
3RD Y/Y
Q1 2019 IN Percentage
CANADA * Count Growth
Agent
The 351
Royal LePage
8% Commercial Colliers
Fastest
Growing CBRE 6%
Cushman & Wakefield
Commercial
4%
Brand Avison Young
2%
Royal LePage Colliers CBRE Cushman *By
& total agent
Avison count
Young
Commercial Wakefield
___________________________________________________________________
REALTOR® count is current as at March 31, 2019CANADA’S INNOVATION LEADER … FOR OVER A CENTURY! Leveraging leading technologies to improve productivity and drive business
Introducing the MOST POWERFUL TECHNOLOGY PLATFORM in Canadian Real Estate A tech ecosystem to fuel your business. Today and in the future.
ELIMINATING THE GAPS THAT
KILL PRODUCTION & PROFITS
PRODUCTIVITY, PROFITABILITY & A GREAT CONSUMER EXPERIENCE
DEPEND ON INTEGRATION ACROSS YOUR ENTIRE BUSINESS
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YOUR ENTIRE BUSINESS ROYAL LEPAGE
UNIQUE ECOSYSTEM
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ROYALLEPAGE.CA
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CREA
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LARGE TEAM EMPOWERING TEAMS ADD-ON Options to empower teams with their own sub-account, independent business logic, team goals, lead-gen, controls & reporting ➢ Powerful Team Sub-Accounts & Controls ➢ Customizable Team Websites ➢ Top Lead-Gen Tools for Teams ➢ Lead Purchasing & Management ➢ Advanced Lead Routing Options $399/MONTH USD ➢ Flexible Team Campaigns ➢ Team Reports & Analytics ➢ Dedicated Success Coach
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Pricing in USDPOWER THE POSSIBLE. COMING SPRING 2020
2020 ROYAL LEPAGE
NATIONAL SALES
CONFERENCE
Winnipeg, MB
September 15 - 17, 2020A CULTURE OF GIVING
$33M
RAISED
1998 - 2019
$3M
RAISED
IN 2019
THANK YOU!
Together, we help 50,000 women and children in 200 shelters each
year, and support programs that help put an end to family violence.COMMISSION DONATIONS
a CRITICAL means of support
Millions
100
ONE-THIRD raised
90 comes from
80 Commission Donations
70
60
50
Yet ONLY 12% of agents
40
30
make donations through
20 commissions
10
0
YOU CAN HELP!
Become a Commission Donor
IMAGINE THE DIFFERENCE IT WILL MAKE!120 trekkers from across Canada
$1.132M RAISED
THANK YOU FOR YOUR SUPPORT OF OUR TREKKERS!THANK Let’s Make It Our YOU! Best Year Yet!
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