This year, the Ontario Real Estate Association is celebrating its 100 year anniversary. This is quite an accomplishment. First starting as a way to ensure fair and secure transactions across Ontario, its role has grown to supporting REALTORS® and advocating for homeownership.  Over these 100 years we've seen incredible changes to the real estate industry and REALTORS® have continued to broaden the scope of their work to include, not just selling homes, but  expanding their knowledge to commercial, new condo sales and even rentals. In those years, REALTORS® have also adopted significant technologies to speed up transactions and even communicate and close deals with clients all across the globe in a matter of minutes. With all the changes that have taken place, it was only a matter of time that different types of real estate would also emerge with the fast adapting realtor leading the way. 

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Besides buying and renting a home, REALTORS® are now helping their clients buy a small part of a vacation home. It's called fractional ownership.  You can also join a pool of money and buy even smaller shares of residential investment properties or commercial  strip malls. This micro-investing has the power to help many people, traditionally locked out of real estate investing, have the opportunity to buy real estate and build wealth in an appreciating asset. Unfortunately it's typically not very liquid and it doesn't provide a long term roof over your head. 

Today, other alternative homeownership solutions are gaining traction. Rent-to-Own is re-emerging as another way to finance a home and now co-ownership carries the promise of helping more people get off the rental treadmill and onto the property ladder in a place they can call their own. It represents a fundamental and frictionless shift in how we view ownership. Can you imagine being able to buy without a mortgage and only requiring a small down payment? 

Right now we are faced with two separate challenges. We have  explosive population growth in urban centres and a changing market dynamic of higher interest rates and reduced supply and availability of capital. As they say, necessity is the mother of invention, and REALTORS® are taking up the challenge of looking for new ways for their clients to own.   

As it has always been, the role of the REALTOR® remains front and centre as the torchbearer of new housing solutions.   

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If you’re a REALTOR® who's interested in co-ownership as a solution for your client, you can learn more about how Key works with REALTORS® here or book a call with me.

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