Economics for REALTORS®: Why You Should Incorporate Economics into Your Practice

As real estate is so intertwined with the broader economy, REALTORS^® who understand how to analyze and apply economic trends can incorporate this knowledge into their practice and help their clients make more informed decisions.

With this is mind, BCREA has launched a new course called Economics for REALTORS^®: How to Apply Economic Data and Trends to Help Your Clients, created by BCREA’s Economics Department.

“Realtors will benefit from gaining general knowledge on how the real estate market interacts with the broader economy,” said Ogmundson. “The course is interactive and uses real-world data that they can directly relate to their profession.”

(BCREA Access login required)

This new, online self-paced course is worth two PDP hours and discusses economic factors that affect housing supply and demand, the impact of government policies on real estate markets, and refers learners to reports that provide up-to-date information. By the end, learners will be able to:

• describe how changing supply and demand impact home prices,
• analyze the impact of government policy on prices and housing affordability,
• describe various measures of housing supply, and
• apply market metrics like the sales-to-active-listings ratio to gauge the direction of home prices.

The primary goal of this course is to enhance the standard of professional competency in how Realtors assist their clients and protect their best interests during the home buying or home selling experience, particularly in the area of economics.

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