Since moving his well-established real estate brand from Re/Max to eXp Realty last fall, Calgary realtor Justin Havre has been an ambassador for the relatively new, independent company trying to upend the status quo across North America.

At the time, Havre had a team consisting of 60 agents and 18 staff. 

New model, different fit

Havre’s team has been very successful, selling almost 9,000 homes in Calgary since 2016. For five consecutive years, they were named Re/Max’s #1 Large Team in Canada in Closed Transactions. They left Re/Max First with $4 billion in sales volume in Calgary and surrounding areas.

Today, his team at eXp, the Justin Havre Real Estate Team, has 90 agents. 

In Canada, eXp continues to grow with the recent addition of Toronto’s Polsinello Team, which Havre helped recruit to the brand. With 25 agents, last year they achieved 218 closed transactions totaling $213 million in volume.

“Finding a brokerage that offered more in terms of commissions and benefits was our top priority and eXp Realty fit the bill perfectly,” says founder and team lead Frank Polsinello in a news release. “We are very conscious of what’s best for our agents. The idea of a retirement fund and revenue share made a huge difference in our decision.” 

Likewise, Havre notes that other teams choose to partner with eXp because they see the business model is for them and their agents who go on to become partners.

Future plans: ‘The sky’s the limit’

Havre explains his future plans are to continue to impact the people he chooses to partner with. 

Goals for the Justin Havre Real Estate Team also include creating a great client experience and delivering results that both buyers and sellers are seeking in the marketplace while continuing to evolve and adapt to the constantly changing real estate environment, “whether that comes with utilizing technologies, different brokerage models and/or marketing tools to ensure that we are top of mind in the marketplace but at the same time creating the (right) client experience.”

Havre’s mission is to provide the tools, resources and development for all agents so they have what they need to navigate the ever-changing real estate landscape.

“One thing we do quite well is training and developing our agents, whether they’re experienced or new to the industry,” he explains. “I’ll continue to grow as long as we find the right people. I’m never going to say no to aligning myself with people who have the skills, the talent and the ambition to grow a successful real estate business. How many agents is that going to be? The sky’s the limit, really.”

Super or ‘mega’ teams with 200+ agents to come

Havre thinks the industry will see the formation of super, or mega, teams in the future with 200 to 300 agents.

“I do believe that a lot of brokerages are recognizing it’s incredibly challenging to run a profitable business but at the same time provide all the tools and resources to support their agents,” he points out.

“Because the margins are so small and tight in that brokerage model, this is where the so-called ‘disruptors’ like eXp come into play, (to) actually provide better support, better tools, better technologies and resources that will help agents’ businesses for a lot less.”

Another benefit he cites is the fact that all agents partnered with eXp have ownership in the company.

Havre could have gone the route of creating a brokerage, but he says eXp made more sense for being able to grow his business and attract people to a model.

‘It‘s a business that’s here to stay. It’s a business that more and more agents are looking to’

Being a large independent real estate company with more than 87,000 agents in over 20 countries, eXp continues to scale internationally. It gives realtors the unique opportunity to earn equity awards for production goals and contributions to overall company growth.

“There are a lot of misconceptions, a lot of fear-mongering from the traditional brokerages, which is unfortunate. I may have been one of those people myself because I wasn’t informed,” Havre admits.

He feels that as more people get educated and begin to understand this model — a model that he stresses isn’t going anywhere — one of the things he’ll look at is publicly traded companies.

“I would say that people on Wall Street are pretty smart. And when you can look at a Re/Max with 140,000 agents with a market cap of around $250 million compared with, for instance, a company like eXp with 87,000 agents having a market cap of nearly $2 billion, that has to say something about what kind of a business model it is.

And it’s not going to be gone tomorrow — it‘s a business that’s here to stay. It’s a business that more and more agents are looking to.”

Havre explains that if people open their eyes to study the model without judgment and once they start to see and understand how it works, “The ‘light bulb moment’ will go off. Part of me moving over also opened many people’s eyes. There must be something to this model.”

Returning to original brokerages for ‘the professionalism of the people, the vibe feeling like family and the services provided’

As with anything else, finding the right brokerage is a personal decision that looks different for every agent and industry professional.

For example, Teri Shaw, a realtor with Royal LePage State Realty in Ancaster, Ontario, moved over to eXp in February 2020 from Royal LePage but returned in December 2020. Shaw has been a realtor for 17 years. She joined Royal LePage State Realty in 2015.

She says the decision to join eXp wasn’t her choice as she had a business partner at the time who was “gung-ho” on the idea.

“I just went with it,” says Shaw, adding that her experience with the brand was “not great.” “But, in fairness, they were new to Ontario. So the professionalism that I was used to from Royal LePage, which is amazing, was not there with eXp.”

Shaw ended her business partnership and stayed with eXp for a couple of months after that. “Then, I needed to go back to somewhere I felt was a better fit for me,” she recalls.

Shaw cites the professionalism of the people she had worked with at Royal LePage and the vibe of the brokerage which felt better suited to her, feeling more like family, as key factors in her decision to return.

“Also, I felt the services provided by the brokerages were more in line with who I was than eXp. I want to sell real estate. I didn’t want to recruit people and it felt like eXp was a recruiting (place). Get more people to join. And that’s not what I wanted to do — it wasn’t for me,” notes Shaw.

“I wanted to talk to a real person, but every time I’d have a question about something I’d call and they’d say you have to go into the ‘eXp world’ and chat with someone there. I didn’t want to do that. I wanted to be able to pick up the phone and call my manager to get my question answered immediately.”

That said, Shaw recognizes they may have improved upon this by now. “I’m not knocking them. There were some quite nice people that worked there and everybody was helpful, but at that time they were not ready for the growth that they were experiencing.”

Last month, Calgary’s market continued to move from the strong seller’s market conditions of the spring, the Calgary Real Estate Board (CREB) reports. More inventory and fewer sales brought months of supply to more than two months, a level unseen since 2022.

“As expected, rising new home construction and gains in new listings are starting to support a better-supplied housing market,” says Ann-Marie Lurie, chief economist at CREB. “This trend is expected to continue throughout the remainder of the year, but it’s important to note that supply levels remain low, especially for lower-priced properties. It will take time for supply levels to return to those that support more balanced conditions.”

More inventory driven by higher-priced properties; fewer sales thanks to lower-priced properties

Last month’s inventory reached 4,487 units, 37.3 per cent higher than the year prior but almost 25 per cent lower than long-term trends for August.

Higher-priced properties mostly drove these gains, with more new listings and less sales, at 2,186 — 19.5 per cent less than 2023’s record high yet 17 per cent higher than long-term averages for August. Sales declines were for homes priced below $600,000.

August’s unadjusted residential benchmark price was $601,800, 6.3 per cent higher than last year and slightly lower than last month. The average benchmark price rose by 9.0 per cent year-to-date.

Detached homes

Compared to a year ago, detached home sales fell by 14 per cent. August saw 2,011 detached homes in inventory, with over 85 per cent priced above $600,000, helping push the months of supply up to nearly two months.

August’s unadjusted detached benchmark price was $762,600, just under last month but over 9.0 per cent higher than last year.

Semi-detached homes

For semi-detached properties, the region saw 297 new listings and 172 sales, with a sales-to-new-listings ratio drop to 58 per cent that supported increased inventory and a months of supply jump to nearly two months.

This category’s August unadjusted benchmark price was $681,200, a drop from July but almost 10 per cent higher than last year.

Row homes

Last month, new listings for row homes priced above $400,000 added to year-to-date growth of about 16 per cent, while slower sales over the past quarter also boosted inventory gains. There were 660 row home units available, a 75 per cent increase over particularly low levels reported last year.

This category’s unadjusted benchmark price in August was $461,700, slightly lower than last month but over 12 per cent higher than the year prior.

Apartment condominium homes

August’s new listings of apartment condominium homes reached 1,001, a record high for the month. This was paired with declining sales, which caused the sales-to-new-listings ratio to fall to 60 per cent and inventories to rise to 1,476 units, with months of supply to rise to about two and a half months.

The month’s unadjusted benchmark price was $346,500, similar to July’s and almost 16 per cent higher than 2023’s prices.

Review CREB’s full reports for the city and region.

Between May and July, Calgary saw homes selling for above list price in over half of its neighbourhoods (54 per cent), marking a 13 per cent jump in overbidding since the first quarter of this year (41 per cent), Wahi reports.

Clearly, homebuyers in the market haven’t been waiting for further interest rate cuts. In fact, buyer competition intensified even before the Bank of Canada cut interest rates in June.

Demand is strong for Calgary real estate 

As well, the share of neighbourhoods selling at-asking increased quarter-over-quarter to 18 per cent (compared to 17 per cent in the first quarter).

This past quarter, 102 neighbourhoods were overbid and 34 sold at-asking, up from 76 and 31, respectively.

“Whether it’s buyers from other provinces attracted by Calgary’s relative affordability or locals benefitting from Alberta’s resilient economy, demand remains strong for Calgary real estate,” says Wahi CEO Benjy Katchen.

Top overbidding neighbourhoods

Overall, the top five overbidding neighbourhoods were priced lower than the top underbidding neighbourhoods, with median overbid amounts between $26,000 and $50,050.

Three were located in the Northwest quadrant, and Deer Ridge was the only neighbourhood to make the top five for overbidding in both quarters of the year so far.

Top underbidding neighbourhoods

Upper Mount Royal was the only Calgary neighbourhood to make the top five underbidding list in both quarters of the year so far.

Now that the busy spring market is behind us, Calgary is beginning to see some shifts in supply levels, the Calgary Real Estate Board (CREB) reports.

July recorded 2,380 sales and 3,604 new listings, resulting in a sales-to-new listings ratio of 66 per cent, which has supported an inventory increase of up to 4,158 units. While this is still 33 per cent below the typical July average, it’s the first time surpassing 4,000 units in almost two years. Most of the supply growth occurred for homes priced above $600,000 and has helped to ease the spring’s extreme seller’s market conditions.

“While we are still dealing with supply challenges, especially for lower-priced homes, more options in both the new home and resale market have helped take some of the upward pressure off home prices this month,” notes Ann-Marie Lurie, chief economist at CREB. “This is in line with our expectations for the second half of the year, and should inventories continue to rise, we should start to see more balanced conditions and stability in home prices.”

Higher supply: Still favouring sellers but lowering prices

July sales were 10 per cent less than last year’s record high but remained higher than long-term monthly trends. Despite this, the increase in inventory combined with slower sales caused the months of supply to rise to 1.8 months, still favouring sellers but much improved from the under one month earlier this year.

This extra supply helped slow price growth for all property types. July’s total residential benchmark price was $606,700, close to June’s price and almost 8.0 per cent higher than 2023’s levels.

Detached homes

Detached home sales in July fell by 8.0 per cent, as a 15 per cent rise in homes priced above $600,000 was not enough to offset a 50 per cent decline in lower-priced homes. Year-to-date detached sales have eased by just over 1.0 per cent compared to last year.

The city saw 1,098 sales and 1,721 new listings this month, with inventories reaching 1,950 units, which helped push the months of supply up to nearly two months. The unadjusted benchmark price in July was $767,800, similar to last month but 11 per cent higher than last July.

Semi-detached homes

Although semi-detached home sales slowed slightly compared to last year, year-to-date sales reached 1,518 units, 6.0 per cent higher than in 2023. However, conditions remain tight with a 76 per cent sales-to-new listings ratio and 1.5 months of supply.

The pace of monthly price growth has slowed, but the unadjusted benchmark price of $687,900 is nearly 12 per cent higher than last year.

Row homes

More new row home listings compared to total lower sales caused the sales-to-new listings ratio to fall to 73 per cent in July, raising the months of supply to 1.3 months.

Although conditions still favour sellers, the change stopped further monthly price gains, though the benchmark price of $464,200 is still nearly 15 per cent higher than 2023.

Apartment condominium homes

July sales decreased to 659 units, with a large drop in sales for properties priced under $300,000. There were 1,043 new listings last month, causing the sales-to-new listings ratio to drop to 63 per cent which helped raise months of supply to over two months.

Monthly price growth has slowed, but the unadjusted benchmark price of $346,300 is still 17 per cent more than levels from the same time last year.

Review CREB’s full reports for the city and region.

Last week, the Calgary Real Estate Board (CREB) released its Q2 2024 housing market report, which offers an overview of the real estate landscape in Calgary and surrounding areas and showcases trends in sales and pricing.

A seller’s market with sales-to-new listings below 80% for first time since Q1 2023

New listings have risen for the fourth consecutive quarter compared to last year, with many gains in the upper price ranges of each property type — rising prices and high lending rates have encouraged more sellers to list their properties. This increase caused the sales-to-new listings ratio to fall below 80 per cent for the first time since Q1 2023.

However, the market continues to favour sellers with a Q2 sales-to-new-listings ratio of 75 per cent and a months-of-supply of one month.

Slower sales thanks to lower-priced properties, though still above trends

In the second quarter, sales slowed by three per cent compared to the same time last year. This was mainly due to lower-priced properties with the lowest supply levels. Despite this, sales levels were 29 per cent above long-term trends and, after the year’s first half, nearly six per cent higher than last year.

“The unexpected surge in migration over the past two years has contributed to the demand growth and supply challenges experienced in the Calgary market,” says Ann-Marie Lurie, chief economist at CREB.

“While we still have to work through the pent-up demand, slowing migration levels and supply gains in the resale and new home markets should start to support more balanced conditions, taking some of the pressure off home prices.”

 Source: CREB

Home prices have risen by 10 per cent so far this year — with the biggest gain occurring in row properties at 19 per cent and the smallest growth occurring in detached and semi-detached homes at 13 per cent.

What’s next

CREB predicts that increased supply from the new home sector will help support a better-supplied market, including for rentals, and reduce pressure on home prices.

Slowed price growth is expected throughout the year’s second half as supply increases, though this will mostly impact higher-priced properties. The board says more price increases will affect the most affordable property types with persistently tight conditions.

Review the full report here.

Last month, Calgary had 2,738 residential sales, 13 per cent less than last year’s record high, the Calgary Real Estate Board (CREB) reports. However, this is over 17 per cent more than long-term trends.

“The pullback in sales reflects supply challenges in the lower price ranges, ultimately limiting sales activity,” says Ann-Marie Lurie, chief economist at CREB. “Inventory in the lower price ranges of each property type continues to fall, providing limited choices for potential purchasers looking for more affordable product. It also continues to be a competitive market for some buyers with over 40 per cent of the homes sold selling over list price.”

Inventory and prices

New listings were also lower in June, which left the sales-to-new-listings ratio at 72 per cent. At 3,789 units, inventory was improved compared to last year, but this is 40 per cent below long-term trends.

Months of supply is relatively higher, at 1.4 months, with rising prices in all districts and conditions favouring sellers. June’s unadjusted benchmark price was $608,000, almost nine per cent higher than last year.

Source: CREB

Detached homes

There was a 16 per cent year-over-year sales drop in detached homes across the city, with new listings 45 per cent below long-term trends for June and 1,775 detached homes in inventory. At $767,600, the unadjusted benchmark price was almost one per cent higher than in May and 12 per cent higher than the year prior.

Semi-detached homes

New listings were low in this property type last month, with the sales-to-new-listings ratio up to 76 per cent for semi-detached homes. With just over one month of supply, inventory remained at about half of what’s typical in June. The unadjusted benchmark price rose one per cent from last month and 12 per cent from last year, reaching $686,100

Row homes

Row home sales slowed in June relative to the past two years, and this property type’s sales-to-new-listings ratio fell to 75 per cent, the lowest June level since 2021. With about one month of supply and an unadjusted benchmark price of $464,600, about 17 per cent higher than last year, conditions are tight.

Apartment condominium homes

791 apartment condominium home sales occurred in June, nearly eight per cent less than last year. This was mainly for lower-priced properties. However, year-to-date apartment sales are up by 13 per cent and at record-high levels. Sales-to-new-listings fell and inventory was up, but mainly in higher-priced properties. Prices increased by over 17 per cent from last year, reaching $344,700. 

Where buyers are going for more affordable homes

Calgary’s market has been going strong, including from a huge amount of interprovincial migration to Alberta last year. That said, it remains relatively affordable compared to other major Canadian markets, and there are several areas in the city where buyers can get a single-family home for $500,000 or less, a recent report from Wahi reveals. This was found in 40 neighbourhoods between January and May this year.

The southwest part of the city is home to the 10 most affordable of the neighbourhoods with two in Northwest Calgary and a third in Northeast Calgary.

Source: Wahi

Bidding wars for Calgary’s single-family homes under $500,000

Despite the relatively lower home prices in some areas, about 65 per cent of the city’s neighbourhoods where the median price of a single-family home was below $500,000 were in overbidding territory through the first five months of the year.

Southwest’s Cedarbrae was leading in this, with selling prices about nine per cent above asking. The neighbourhood with the lowest single-family home median price ($295,000), Woodlands in the southwest, saw overbidding by five per cent.

The city’s higher-priced neighbourhoods and properties are also being overbid, as nearly half of Calgary’s neighbourhoods were in overbidding territory from January to April.

Review CREB’s full reports for the city and region.

Last month, Calgary’s resale market continued on its path of resilience with 3,092 home sales, largely thanks to declines in lower-priced semi-detached and detached properties. Although this is almost one per cent below last year’s record high, it’s also 34 per cent higher than long-term trends, the Calgary Real Estate Board (CREB) reports.

“Although new listings have increased, much of this growth is in higher price ranges for each property type,” says Ann-Marie Lurie, chief economist at CREB.

“Our strong economic situation has supported sales growth in these higher price ranges. However, this month’s sales could not offset the declines in the lower price ranges due to a lack of supply choice.”

Seller’s market with low inventory continues

New listings in May reached 4,333 units, about 19 per cent higher than last year. Although the sales-to-new listings ratio dropped to 71 per cent, inventory stayed at nearly half of what’s typically seen in May and conditions continue to favour sellers.

Detached homes

Year-over-year sales of detached homes declined by seven per cent, and supply sat at just over one month. May’s unadjusted benchmark price reached $761,800, over one per cent higher than last month and 13 per cent higher than last year. 

Semi-detached homes

Detached home sales rose by almost 11 per cent year-to-date, and like other property types, one month of supply meant seller-favoured conditions. The benchmark price of semi-detached homes reached $678,000 in May, over one per cent higher than last month and 13 per cent higher than last May. 

Row homes

May had 540 sales of row homes and supply of under one month. The benchmark price of row homes reached $462,500, nearly two per cent higher than last month and over 19 per cent higher than last year.

Apartment condominium homes

Apartment condominium home sales continued to rise, reaching a year-to-date 19 per cent gain and just over one month’s supply. Prices continued to increase compared to last month’s and last year’s levels, exceeding 13 to 30 per cent across different districts.

Review Calgary’s city and regional May updates, including area summaries.

Despite widespread affordability challenges and high interest rates, the real estate market in Calgary has been very strong, with 92 homes in 49 per cent of its neighbourhoods selling for above asking price between January and April, according to Wahi’s inaugural Calgary Market Pulse report.

During the same period, 14 per cent of the city’s neighbourhoods had 27 homes selling at-asking, while the remaining 37 per cent saw 70 homes sell for under-asking.

Median sale prices in top overbidding neighbourhoods below $750,000

Relative affordability plays into this, since all median sale prices in the city’s top overbidding neighbourhoods were below $750,000, while the most underbid neighbourhoods often had higher price points.

“Whether it’s buyers from other provinces attracted by Calgary’s relative affordability or locals benefitting from Alberta’s resilient economy, demand remains strong for Calgary real estate,” says Wahi CEO Benjy Katchen.

Calgary: More competitive than other Canadian markets

Wahi reports that compared to other Canadian markets, Calgary is more competitive.

For example, in April — the first time this year that GTA neighbourhoods declined month-to-month — 39 per cent of GTA neighbourhoods were overbid, down from 43 per cent the month prior. Another four per cent sold at-asking, and the remaining 57 per cent at under-asking. As well, two per cent of Ottawa neighbourhoods were overbid in 2024’s first quarter.

9 all-cash offers help sell Calgary home for $136,000 over-ask price and set new neighbourhood price point

Calgary’s competitive trend was witnessed firsthand by CIR Realty during the first weekend in May, with an open house lineup of over 50 people. The single-family home in Calgary’s Dalhousie community waiting to be seen was listed by realtor Kim Twohey at $700,000, despite her thinking the value should have been $675,000.

The home quickly sold for $136,000 over-asking after 11 offers came in — nine of which were all cash with large deposits with no conditions.

Twohey says that the final offer taken was lower than two of the others, but the sellers were adamant that the home be sold to a family, rather than a builder.

“The family said that even for a million dollars, they would not sell their family home to a builder who would tear it down to rebuild. It was very important the integrity of the community was maintained. We ended up adding a section in the private listing comments that all offers should include a letter with their intentions for the home,” Twohey says.

“The winning offer was all cash, no conditions, and from a young family who submitted a photo and a handwritten letter talking about their intention to settle into the community and establish roots here. The seller could have made a lot more money on the sale, but they didn’t want the lot going to redevelopment.”

Twohey notes that buyer demand, low inventory and the narrative around blanket rezoning are putting the real estate market “into a frenzy right now” and that, “Sellers are in a position to ask for whatever they want.” In fact, so far this year, every listing the agent had has received multiple offers, and every buyer she’s worked with has made competing offers on other agents’ listings.

“We have the most affordable housing in all of Canada, pretty much any city,” Brian Jean, Alberta’s minister of jobs, economy and northern development, said in March 2023. “They can sell their house in Toronto or Vancouver, buy four houses here in Alberta and live in one and rent three.”

Over 100,000 migrated in four years, at least as many more expected by 2027

Many took up the offer. Statistics Canada reported from July 1, 2022 to July 1, 2023, Alberta’s population grew by 4 per cent, with over 55,000 more people moving in than moving out. In four years, Calgary’s Housing and Affordability Task Force believes that number surpassed 100,000, with another 110,000 coming in the next few years.

The negative consequences of such a campaign are being realized as those moving into Alberta are finding their dollar goes farther, while those in Calgary are seeing prices increase.

Migration seen as problematic for long-time Calgary residents waiting to buy

“My clients who have been here for 15, 20 years are trying to get into the market, and the down payment they had is not good enough anymore,” says Anthony Lewis, a Re/Max Real Estate (Central) agent.

A lifelong Calgarian and realtor of over 10 years, he points to the migration as a problem for those who have been living in Calgary and waiting to buy. “People from Ontario and B.C. are coming in, and now it’s too pricey for (my clients) who want a detached home. Now it’s a townhouse or condo apartment.”

More market tenacity from non-Albertans

The province in general and Calgary, in particular, are seeing the same trends as the rest of the country in anticipation of interest rates going down: low inventory and more competition as people ready to enter the market. This leads to more tenacity from some buyers, particularly from outside the province.

“I get a lot of people from Ontario and B.C. offering sight unseen,” says Lewis.”They want to buy an investment property in Calgary, so we have video calls. I’m seeing unconditional offers which may be normal in Ontario, but over here we’re like, ‘get the home inspection.’”

About the Alberta campaign and its marketing efforts to Ontario and British Columbia, Lewis feels it’s “not really doing any favours to home ownership in Calgary.”

Issue seeping into local rental market

It’s not just prospective homeowners who are feeling squeezed; Calgary is seeing their rental crisis exacerbate.

The February 2024 housing report by Rentals.com notes the average Canadian rental price for a one-bedroom unit rose by over 12 per cent. This follows a 19.2 per cent increase from the previous year. Notably, studio apartments, typically the cheapest rental option available, saw their average price rise by over 30 per cent — meaning those seeking out the least expensive option are finding it tougher than ever to secure a place to live.

What’s more, this year CBC reported a dim outlook by the Canadian Mortgage Housing Corporation (CMHC), with vacancy rates set to drop as prices increase and the market tightens. The CMHC January 2024 report noted the average price of a two-bedroom residence in Calgary is $1,695, an increase of 14.3 per cent in one year.

“Where is everyone going to live?” asks Lewis. “People are getting kicked out of their homes.”

More agents, more competition — including from outside Alberta

The influx of residents has increased the number of licensed agents in the province, as well. 

The Real Estate Council of Alberta reports that since January 2021, it received 1,385 mobility applications from real estate agents and mortgage brokers outside Alberta to become licensed in the province. The three-year period previously saw only 399 such applications.

In addition to the rise of licensed agents to deal with the increase in transactions, there’s more competition. So, Lewis and others must face being skipped over entirely.

“Builders here are marketing to people directly in Ontario,” he explains. “I had this problem two years ago, where I was trying to get a presale for this condo, but they weren’t marketing to Calgary real estate agents.”

Increased unaffordability a growing concern: “This is our reality”

While Lewis acknowledges there’s more money to go around for agents, he worries about the increase in people who can’t afford to live there.

“We need to slow down, we need to look at what’s happening,” he says. “It’s out there now that Calgary is a nice city, and that’s what brings everyone here, but I don’t think it can slow down, and I don’t think the government wants it to slow down.”

He does have some advice for fellow agents facing similar dilemmas: “All we can do for the buyers we have that aren’t out of province is paint the picture of how it’s going to be,” says Lewis. “You’re going to be competing against five other people, and three of the five will be from B.C. or Ontario and will go over asking. This is our reality.”

Today, Calgary’s Chhabra Group left Re/Max for eXp Realty. Led by 33-year-old Sahil Chhabra, a Re/Max First Rookie of the Year in 2020, the team has been successfully serving diverse clients across all market and language demographics.

In four years with Re/Max, Chhabra’s team sold more than $425 million, working with over 650 families in Calgary and its surrounding areas.

eXp says that Chhabra sets himself apart with his acute understanding of buyer and seller cultural behaviour and highly responsive customer service.

Serving a multilingual demographic

The Chhabra Group offers multilingual services — including in Hindi, Urdu, Farsi, Vietnamese, Punjabi, Standard Chinese, Mandarin, Cantonese, Korean, Italian, Spanish and French. They’ve found this to be helpful as more and more people come to Alberta.

“In addition to helping families in all real estate demographics, we are a leading resource for the many who need native language support in the buying and selling transaction process,” Chhabra explains.

A new career and team born amid the pandemic

Born in New Delhi, India, Chhabra came to Canada in 2009, getting his start in the hospitality industry. He decided to get into real estate during the COVID-19 pandemic, doing business in other ways, including with social media, when open houses were prohibited.

“I made diversity and marketing technology the team’s greatest strengths,” he recalls. “At eXp, our agents will work with advanced technology beyond anything available in the real estate world. This is what clients want and demand today.”

Finding the right fit

According to the Real Estate Council of Alberta, this move will be the fifth for the Chhabra Group since 2020, when they left Diamond Realty & Associates for Re/Max First. The team joined Real Broker in July 2022 and in March 2023, they left for Re/Max Real Estate (Central) before rejoining Re/Max First in September 2023.

As for what eXp brings to the table, Chhabra explains that the brand’s vast network and collaborative environment “allows us the unlimited potential to grow and be part of a brokerage without borders. We have found the ideal business model and economic splits with eXp through its revenue share and agent equity programs.”

“There is no doubt that eXp offers everything I need to help grow my team”

On top of this, speaking with Justin Havre of the Justin Havre Real Estate Team and Ibrahim Hussein of Affinity Real Estate helped make the transition decision for Chhabra and his 21-agent team.

“There is no doubt that eXp offers everything I need to help grow my team. Justin and Ibrahim are the best examples of high achievers with thriving businesses who took it to the next level in real estate without a high cost, and where the agent has so much more potential to be the entrepreneur he or she desires to be,” Chhabra says.