Statistics Canada recently released a report that says total operating revenue for the real estate agents and brokers industry group was $10.4 billion in 2013. Total operating expenses were $7.7 billion, yielding an operating profit margin of 25.7 per cent.
It says Ontario has the largest real estate market in Canada, accounting for 51.6 per cent of total operating revenue earned by real estate agents and brokers, followed by British Columbia at 14.6 per cent, Quebec at 14.1 per cent and Alberta at 12.4 per cent.
Subcontract expenses, which included the commission expenses paid to other brokers, accounted for 30.5 per cent of operating expenses. Salaries, wages, commissions and benefits accounted for 15.7 per cent.
Real estate appraisers reported total operating revenue of $759.6 million in 2013. Total operating expenses were $659.7 million resulting in an operating profit margin of 13.2 per cent, says the agency.
