When most people think of real estate agents, they picture professionals helping buyers find their dream homes or sellers get top dollar for their properties. But beyond these transactions, realtors play a crucial role in supporting local economies by driving job creation and sustaining numerous industries. Every home purchase or sale sets off a ripple effect that benefits various professionals, businesses, and service providers in the community.

Each home sale transaction in Canada through an MLS® System generates close to $76,000 in spin-off spending. crea.ca

This spending encompasses fees paid to professionals such as lawyers, appraisers, real estate agents, and surveyors, as well as expenditures on appliances, furniture, renovations, and other items that purchasers may need or desire for their new homes.

Between 2020 and 2022, Canada's average annual resale housing activity facilitated through MLS® Systems generated approximately $43 billion in spin-off spending each year. crea.ca

Jobs Created by the Home Buying and Selling Process

Realtors are the linchpins of the real estate ecosystem, connecting buyers and sellers while facilitating transactions. However, their impact extends beyond closing deals—indirectly supporting a vast network of jobs. Here are some key professions and industries that benefit from real estate transactions.

Mortgage Brokers and Lenders: Before purchasing a home, buyers typically require financing. Mortgage brokers and loan officers assist buyers in securing the right mortgage, ensuring that financial institutions, from big banks to local credit unions, remain active participants in the economy.

Home Inspectors: Home inspection is a crucial step in any real estate transaction. Certified home inspectors assess the property’s condition, identifying potential issues affecting its value or safety. These professionals are essential to ensuring informed decisions for both buyers and sellers.

Appraisers: Real estate transactions depend on accurate property valuations. Appraisers provide assessments that determine a home's fair market value, ensuring that buyers, sellers, and lenders have a clear understanding of its worth.

Real Estate Lawyers: Legal professionals specializing in real estate ensure that all transactions comply with local laws and regulations. They handle title searches, contract reviews, and the final closing process, safeguarding buyers and sellers.

Contractors and Home Improvement Professionals: Before selling, homeowners often invest in renovations to increase their property's market appeal. Contractors, painters, plumbers, electricians, and landscapers all see increased demand when a property is being prepared for sale. New homeowners frequently invest in home improvements after purchase, boosting local trades.

Moving Companies: Once a deal is finalized, buyers and sellers must relocate, creating business for moving companies. These companies employ drivers, packers, and logistics coordinators, contributing to job growth in the transportation sector.

Staging, Interior Design & Photography Services: Many Real Estate Agents use professional stagers, interior designers, and photographers to make their homes more appealing to potential buyers. These professional services boost demand for home décor businesses, photographers, and freelance designers.

Home Insurance Providers: Every new homeowner requires insurance, creating a steady business for home insurance providers. Agents and brokers in this industry benefit from ongoing transactions, ensuring homeowners are protected from potential risks.

The Bigger Picture: A Thriving Local Economy

The real estate industry doesn’t just create jobs—it keeps money circulating in local communities. Every commission earned by a realtor, every service provided by a contractor, and every mortgage secured with a local lender contributes to a thriving economy. Homeownership also leads to long-term economic stability, as homeowners invest in their communities, pay property taxes, and support local businesses.

This substantial economic contribution underscores the importance of the real estate sector in driving local economies.

Moreover, this activity supported an estimated 233,209 jobs annually across various sectors, including finance, insurance, real estate, construction, and other professional services. crea.ca

These figures highlight the extensive employment opportunities created and sustained by the real estate market, emphasizing realtors and associated professionals' role in fostering economic growth and job creation within local communities.

Realtors are more than just property matchmakers. Every transaction they facilitate supports a network of professionals who rely on the housing market for their livelihood. The next time you see a “For Sale” sign in your neighbourhood, remember that a whole community of workers benefits from that single real estate transaction. The impact of realtors goes far beyond buying and selling homes—it’s about building stronger, more vibrant local economies.