By Peter Squire
The Winnipeg Regional Real Estate Board (WRREB) is proud to announce Akash Bedi as its 2022 President.
“We are pleased to announce one of our real estate industry’s leading brokers and practitioners will assume the role of President for 2022,” said Marina R. James, CEO of the Winnipeg Regional Real Estate Board. “Akash Bedi is a consummate professional and very much attune to keeping up on industry-wide trends as well as issues and opportunities that affect us at the local level in our region.”
Akash Bedi has dedicated many hours of volunteer time serving on or heading up key WRREB committees such as Governance, Executive, Finance and Audit, Membership Engagement, the Commercial Division and also serves as a director of the Manitoba Real Estate Association (MREA). Bedi commenced his real estate career in earnest in 2003 and was a salesperson for 12 years before he became broker of RE/MAX Executives Realty in 2015. On January 1, 2017, he became the owner and team leader of two large RE/MAX Executives offices.
Bedi is proud to say he is a second-generation REALTOR® as his father Baldev Bedi has been in real estate for over 40 years.
“As someone growing up in the 80s and 90s assisting my father in real estate, I learned what it means to be a REALTOR® and gained an appreciation of it as a potential career for myself,” said Bedi. “Our MLS® system has come a long way since then and I am glad to see WRREB evolve its regional approach to real estate growth, be it in residential or commercial, along with all of the services and products we provide our Members.”
Besides technology and how it forms such an integral part of the real estate transaction process, MLS® sales have come a long way in the last few years.
“WRREB finished 2021 with over 18,575 MLS® sales totalling $6.25 billion”, said James. “It represents a 33% increase over the previous 5-year average. In setting its highest sales and dollar volume level yet, our Board reaffirmed its regional importance with rural MLS® areas showing exemplary growth alongside Winnipeg. In fact, the one MLS® area centered around the City of Steinbach went over 1,000 MLS® sales in 2021.”
It is worth noting here that the economic impact of MLS® sales in 2021 equates to $1 billion in economic spin-offs as each MLS® sale generates thousands of dollars in direct and indirect economic benefits including job creation.
Following on the heels of WRREB’s most successful year is a welcome challenge to Bedi who not only has been bold in getting into owning a major franchise but also diversifying his breadth of learning and experience by specializing in areas such as land development and investment, multi-family, rentals, and new construction. His expertise in these other areas of real estate will be invaluable as housing supply issues will be front and center in 2022.
“My background in development and new construction gives me insight into the need for cities like Winnipeg to get out in front of their infrastructure service requirements so we are able to build more housing supply for a growing population,” said Bedi. “2022 is an ideal year to put focus on this important
issue as candidates running for municipal office this fall will be seeking our support.”
As for what lies ahead from an industry point of view in 2022, Bedi is cognizant of the significance of all REALTOR® Members falling under a new Real Estate Services Act (RESA) and the regulations that come with it. Considerable effort has gone into making the transition as smooth as possible with our provincial association in direct consultation with the Manitoba Securities Commission and it will be ongoing throughout this year.
“I am looking forward to applying my experience and industry insights to lead our real estate board in a year that ushers in more change in how we conduct our business so we can serve buyers and sellers in a more professional and efficient manner throughout our regional market,” said Bedi.
Bedi’s first chance to address Members and the general public will be at WRREB’s virtual Market Insights event on February 17 from 9:00 to 10:30 a.m.
This free event sponsored by CIBC is a real opportunity for people to understand what transpired in 2021 and gain insights on what we can expect in 2022 from both local and national speakers. A comprehensive recap and summary of MLS® activity during 2021 will be presented, as well as setting the stage for 2022. Trevor Clay, a leading commercial REALTOR® with Capital Commercial Real Estate Services Inc. in Winnipeg and a former WRREB Commercial Division Chair, will give an overview on commercial real estate and trends and development in 2022 and beyond.
The keynote speaker, who presented at WRREB’s inaugural annual forecast breakfast back in 2007 and was very well received, is Peter Norman, vice-president and chief economist of Altus Group. Norman is a well- known national housing economist who has a keen grasp of the importance and impact of new and resale housing including renovations on our economy. Altus Group is known for its work with the Canadian Real Estate Association (CREA) to determine the economic spin-offs of MLS® sales and is a strategic partner on the development and ongoing support of CREA’s MLS® Home Price Index (HPI).
Both Trevor Clay and Peter Norman will join me to answer any questions following their presentations.
See our ad below on how to register for this free virtual event. Once you register, you’ll receive a link that will allow you to connect to the event via Zoom. We hope you’ll join us!
Peter Squire is the Winnipeg Regional Real Estate Board’s Vice-President, External Relations & Market