Overview

• Rennie has laid off 31 employees, reducing its head office team from 123 to 92, in response to ongoing challenges in the real estate market.
• The company attributes the cuts to a 'geo-political, economic, urban affordability, AI-driven hyper cycle' that is fundamentally transforming the industry.
• Despite the reductions, Rennie will continue to support its network of over 300 realtors across British Columbia, Washington, and California.
• A market forecast by Rennie projects a 60% increase in unsold condominium inventory in Metro Vancouver by the end of 2025, reflecting ongoing market pressures.
• Rennie remains committed to its partnerships, including serving as Disney’s official Canadian broker for the Cotino residential community in California.