Market turbulence due to continued affordability pressures, an uneven mix of inventory droughts and floods depending on the city, and customer discomfort with U.S. tariffs and other economic factors shaped the day-to-day.
Changing interest rates and cautious buyers made transactions more complex and expectations harder to manage, as the adoption of advanced technology tools and AI became more mainstream, with more agents looking to data to close deals.
At the same time, the sector faced a broader reckoning. Regulatory actions, legal decisions and high-profile controversies have sharpened the focus on governance, professional standards and protecting consumer trust.
Together, these forces have reshaped the way officers operate. Below are the five stories that will most impact Canadian real estate in 2025, descending to number one.
5. Realtor.ca’s transition and leadership shift
By 2025, The transformation of Realtor.ca into a standalone, taxable subsidiary of the Canadian Real Estate Association (CREA) became one of the most significant structural developments in the industry. Early in the year, the newly formed entity named Patrick Pichette, a former director, as interim CEO and began recruiting a permanent board and CEO to guide the next phase.
Later in 2025, Realtor.ca made the announcement Scott Neilformer CEO of major digital marketplace Kijiji Canada, will take over as CEO effective January 2026.
The shift gives Realtor.ca more operational flexibility to pursue innovation, new revenue streams and technology investments, CREA says.
4. Cowichan land title decision
The Cowichan land title decision was one of the year’s most significant legal developments affecting real estate in British Columbia.
The ruling, focused on indigenous land rights and ownership issues in parts of the Cowichan region, introduced new complexities to the affected transactions and was seen by some as a possible signal of what is to come for other areas in the country with land claims.
Even with a limited scope, the decision galvanized agents, lawyers and lenders re-examine due diligence practices and security of ownership. It also highlighted how historic land claims can intersect with modern real estate in ways that are not always obvious to buyers and sellers.
3. Condo printing in Toronto and Vancouver
Downtown condo markets in Toronto and Vancouver remained in the spotlight in 2025 when prices, investor confidence and project viability came under pressure.
Slower sales, higher interest rates and concerns about investor saturation prompted some developers to pause or reconsider projectswhile resale conditions remained stable.
Many experts in the field agree that micro units, which had a moment in the early 1920s, are out of touch with today’s buyer demands as the market has shifted from investors to end users.
While both cities remain central to the Canadian housing landscape, 2025 marked a clear reset for downtown apartments.
2. Eric Drinkwater scandal in Calgary
The Eric Drinkwater scandal became a major national story after the former Calgary cop has admitted to fraud approximately 71 people through a Ponzi scheme, from which he collected $3.5 million.
In September, the Real Estate Council of Alberta (RECA) prohibited drinking water banned from Alberta’s real estate industry for life, following an investigation and hearing.
In its decision, the independent hearing panel described his conduct as “among the most serious” RECA has ever dealt with.
Drinkwater’s conduct led Remax Canada to drop the long-standing brokerage in Calgary where he worked, formerly known as Re/Max Central.
Civil lawsuits and criminal charges brought by the Calgary Police Service are still ongoing and separate from RECA’s disciplinary process.
1. iPro Realty Scandal and Impact on the Industry
The iPro Realty Ltd. scandal was one of the most watched stories of 2025, sending shockwaves through Ontario’s real estate community after a $10.5 million deficit was discovered in the major brokerage’s trust account.
Criticism of the Real Estate Council of Ontario’s (RECO) handling of the situation ultimately led the government to act take control of the regulator through an administrator.
Affected officers will currently be compensated 50 percent of what they lost in commissions.
The affected agents – some of whom are claiming six-figure losses – have been pushing for justice since iPro’s trust account deficit came to light and the brokerage was closed in August, three months after RECO became aware of the breach.
For many, the simultaneous Drinkwater and iPro scandals represent one collective settlement for the sectorwith industry leaders emphasizing that the harm extends beyond the individuals involved, threatening the integrity of the entire profession.
Courtney Zwicker is a digital reporter and associate editor for REM. Based in Atlantic Canada, she has more than a decade of experience covering daily business news.
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