Part 2/18:
Industry reports reveal that over 72,000 real estate agents have left the profession nationwide since 2024. This unprecedented exodus echoes the worst hits since the 2008 financial crisis, signaling a profound upheaval in the sector. The Greater Toronto Area (GTA), a traditionally hotbed of real estate activity, bears the brunt. Major brokerages like RE/MAX, Royal LePage, and Century 21 have confirmed office consolidations and layoffs, pointing to plummeting transaction volumes and escalating operational costs. Even seasoned, high-volume agents are abandoning the traditional brokerage model, transitioning to digital-only platforms or exiting altogether as the allure of high commissions fades.