Pei Powerhouse Peggy Donovan Steer a big change in the smallest province of Canada

With more than 35 years of experience in organized real estate under her belt, Prince Edward Island Real Estate Association (Peirea) executive officer Peggy Donovan still remembers ‘The Young Kid on the Block’ during meetings.

“Now I am the grandmother,” says Donovan, who recently turned 60 and confesses to having “five towers notebooks” instead of a digital planner. As a top dog, she also easily admits that she “never sold a stick of real estate” in her life.

Let you not mislead yourself. A veteran in an industry where women still tend to be under -represented in management at the highest level, she is a force for progress in a province where the number of brokers has doubled in the past five years.

“The leadership of real estate evolves,” she says. “There was still a glass ceiling when I started. I see that crumble, which is great.”

Coming home with her roots

A proud islander – land of red sandy beaches, Anne or Green Gables, lighthouses and characteristic potatoes – Donovan has been at the Pei Association for almost 15 years, which supervises strategic direction and management activities.

She was born and raised on the island, the smallest and most rural of Canadian provinces, to become a paralegal at the age of 19 and spent a few decades working in Real Estate Association Management, in particular as assistant director of Board and Member Services for the Ontario Estate Association. While her colleagues went to law firms, she wanted to dive into professional standards for real estate and the like.

“I left Pei and never thought I would come back,” she recalls. “But life happens and priorities change.” She had a number of heavy beats, including a breakdown of the marriage. She called her mother and said, “I think I will come home.”

A ‘fearless, strong leader’

Within a few weeks after back in Pei, she had landed the track at Peirea, with headquarters in Charlottetown.

Tim Jackson, current president of the association, says that watching Donovan is a room something to see. “She really shines in the wider organized real estate world. In a room of more than 400 people, she is immediately recognized, greeted with open arms, warm smiles and sincere hugs. The connections she has cultivated throughout the country speak volumes.”

Nicole Foster, the executive assistant of Donovan, adds, “if a woman in this industry, an fearless and strong leader like Peggy to look up is priceless.”

Donovan accepts acclamation without false modesty. “I feel respected and that I bring value to the table,” she acknowledges. “I am at a point in my life where I am who I am, and I know my things. And if I don’t do that, I will ask. I feel at ease in my own skin.”

She urges the younger demography that now enters the industry not to be afraid to speak out and ask what they want. “It starts a conversation. There is no such thing as a stupid question.”

Move the industry ahead

The real estate community in the birthplace of Confederation is not large. “Everyone knows everyone,” says Donovan. “That is a double -edged sword. Members cannot succeed in following the in place,” which leads to a number of challenging days before her at the office.

To make things more complicated, the industry in Pei is not properly regulated. “Change must happen.”

Together with advocacy, raising the bar about the protection for consumers and the profession of real estate is important initiatives. Others include upgrading pre-licensing education (“We want to implement more practical information”) and modernizing the Trade Act in real estate. It has been decades since Donovan was largely overhauled. “It is outdated to say the least, still references to saleman.”

The province, with its relaxed pace, charm in the small city (despite a high population density), and relatively reasonable livelihood costs, had never experienced rising prices and experienced several offers to Covid, which presented another challenge.

“We have learned to navigate by using processes from other provincial real estate associations that have experienced it,” explains Donovan. “We don’t have to create the wheel again.”

Ironically, Peirea himself had to sell his office building and upsize at the time, with a growing membership.

“And we have several offers,” says Donovan, with a smile.

Nowadays, the real estate market in Pei, in contrast to the national trend, blooms with inventory and house prices. It is a hot and balanced market, powered by immigration, low vacancy, relatively affordable homes compared to other parts of Canada and the temptation of a quieter and picturesque lifestyle.

“But there is an interesting problem,” Donovan warns, “because we may have become more successful than we expected.”

Although many experts are worried that the supply continues to exceed the supply, Donovan now sees affordability as a greater problem. “I don’t know how young people get on the market,” she says. “People will surprise the costs of living if they move here. They expect it to be lower.”

With the average house price in Pei that crawls above $ 400,000, the locals are increasingly finding the market out of reach, she notes. “Our wages do not match the rest of Canada.”

Pei indeed lags behind most other provinces in this respect. The under -performance labor market is blamed for factors such as the disproportionately high percentage of residents aged 65 and older, a low employment percentage and labor shortages.

With the swelling of the population, the infrastructure of the province is also a problem. “It’s hard to catch up,” says Donovan. “Housing, medical services – it all takes time. There is a serious need for doctors”, and a limit for study permits for international students.

In her opinion, the Pei -Levensstijl is heavier than the problems.

“But it’s not all seafood and surfing.”