Success

#THECLOSERSDAILY : EPISODE 171: BUILDING A MYSTERY

So, we got a question from one of our audience members and it was, "How long does it take to build a business in real estate?" Pretty loaded question, I could probably talk about it for an hour or so but I'll give you the short answer. When we got into the business, we were told five years, that's your typical cycle of when you're gonna be closing your initial properties, to having those people sell and resell, typically a three to five year cycle, over and over to build a self-sustaining business. Now, you gotta keep in mind that market fluctuations have a big impact on this. If I come in hot out of the gates, do 50 deals my first year and I'm just closing everything left, right, and center, irregardless of my experience, maybe some of those deals are going to come around to bite me in the butt within the first couple years and I might crash and burn out of the business. Vice versa is true, if I enter during a tougher time in the marketplace, but I really take my time, I do what's right for the client every time, even if it takes me longer to build that foundation, a lot of times you'll end up with a stronger business. So, there's a lot of things that go into that question, maybe we'll cover it in some future episodes. Hope you guys are enjoying the series, we appreciate your attention.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 132: STORYTIME

I'm Justin Konikow. Welcome to episode 132 of The Closers Daily. This one has to do with not creating a narrative in your mind that could tank your deal. What do I mean by that? I mean if you're a seller or you're a buyer and you're in a situation where say you have a conditional sale on one of your properties and the buyers are coming in asking for an extension. Maybe they ask for a day and then all of a sudden they're asking for another day. Don't start getting a narrative in your mind, that might not exist. That they're playing games with you or here and there. Trust your agent, make sure that their agent's being transparent with you and if everybody is being forthright throughout the process, make a decision that's right for you. If your property's been in the market for a couple of months and you've finally got a price that you're really happy with, give them that extra day and don't necessarily burn a deal because you think something's happening that may not actually be happening because you know a lot of the agents have time invested in the deal. The buyer maybe already paid for an inspection and wants to close it so you can shooting yourself in the foot by killing that deal or not giving them that extra 24 hour period.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 72: SNEAKY PETE

Closers Daily Episode Number 72. So when you're looking at a property for the first time, you can get overwhelmed with the overall look of the house. And the big ticket items that you don't really notice some of the little things, and one thing that we've notice a couple times doing multiple inspections is when you're inspecting your property, sometimes when you're going through the basement you'll find these sellers who are out there we like to call them "Sneaky Petes" and they stack things up in front of issues that they want to cover up in the basement. Now, we tell our clients even when we list a property, when we're asking them for disclosures, it's not a big deal if there was something that happened, whether a roof leak or a foundation leak, or anything like that. We wanna be as transparent as possible to avoid problems down the road. We actually want to disclose them and what was done to fix them, so everybody is on the same page, and you don't run into problems. "Sneaky Petes" are the ones who will stack boxes up in front of say, a crack in the foundation that they don't want to disclose, and wanna hide it prior to closing. Those are the ones that end up becoming big problems, and you wanna watch out for. Always look at the little things. Don't get drawn in by the big

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 68: PIZZA PARTY

Closers Daily, Episode 68. Hope you guys are all having a great Friday evening. Late night at the office here, but it is what it is. Here is a little bit of a life hack for you. So if you park in downtown London, use an app called Honk Mobile. If you look at the parking meters you'll actually notice a four-digit number on it, so, like, 2671. There's actually one by One London Place that I used today. And you can pay for your time on your phone. I think it costs an extra 25 cents, but it sends you reminders 15 minutes before your meter expires. You can actually just tap the app and update your meter from that. So if you get stuck in an appointment, it's probably worth the extra 25 cents to save you from getting a ticket downtown. I think it's a way of showcasing how London is forward-thinking in certain ways, and definitely an app that I find super, super useful. So little life hack for you. Saves you time. You don't have to run to the meter every time, pull your credit card out, and then run back to your car. I've used it nonstop this week, and I absolutely love it. So Honk Mobile, download it. Hope you guys are doing well, I'm gonna go eat Rico's Pizza thanks to Glen Whitehead's recommendation. Take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 67: OFF MARKET BONANZA

Closers Daily episode 67. So we're always giving out tips and whatnot at the beginning of the closers series. We promised we'd give you off market properties before they're actually listed, so here's a couple for ya. 322 Fleming is coming up, it's a student rental, it's vacant, freshly painted, clean, ready to rock. It's gonna hit the system next Tuesday. 1212 Thamesridge Crescent is in Hunt Club West, 629k, knockout property. It goes live tomorrow as well, there's gonna be an open house Saturday and Sunday. We also have 1570 Richmond Street, unit number 44, getting another student rental property. Ready to rock, it's been painted, clean, carpet, everything's being done this weekend as well. Perfect for owner-occupier. Actually both Flemming and that property, and then we actually have two more coming up near western as well. One of them could be a turn key student rental property, it's already got five tenants in it, and another one could actually be an old north conversion or student rental. Stay tuned for those two and hopefully you found some value in that. Take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 66: UNCLE JIMMY THE LAWYER

Welcome to The Closers After Dark. Just kidding, it's still The Closers Daily episode 66. We're just at the office super late. So got a question today about what can happen if a firm deal doesn't close. So a lot of buyers are putting contracts on properties without going through their due diligence. Say I list a property for $450, accept an offer $475, but they can't provide funds on closing, and then the lawyers just can't get it done, and the buyers can't get it done. You would be able to go after them and sue them for damages but you have to prove enough damages to make it worthwhile. So say you sold it again on market for $490, well you made a profit so have a really hard time proving damages but say you sold it for $450 and then you leased the property based on that sale and a whole bunch of other stuff then you might have a little bit more recourse. At the end of the day, make sure you're using a real estate specific lawyer. That's a legal question not a real estate question. We are not lawyers, we are not representing. We know what we are doing in a legal capacity but just telling you what we have seen out there. One thing is if Uncle Jimmy does a whole bunch of law but he's not real estate specific, I'd say go and find yourself a good real estate lawyer. We have a couple we use. Feel free to reach out and we'll connect you guys. Take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 64: CATCHING FEELINGS

Closers Daily episode 64, so here's a tip that everybody knows in their heart of hearts but a lot of people don't necessarily practice its don't get emotional about the transaction. Really tough when you're buyer or a seller, obviously dealing with your own property, say you get a response after a home inspection and they say, hey, we found this, this, this. Don't create a narrative without really getting down to brass tacks and finding out what they want. Sometimes you'll go to people and send a list saying hey, these are the things are the things that we're going to be reviewing over the next couple days here's a couple notes of concern sometimes a 24 hour period the sellers can create a narrative in their mind that oh, they're going to ask us for a price or they're going to do this, they're going to do that and they can put a wall up before you even get to that point make sure you're transparent about it, hey, this is why we're worried about these things these are the answers that we're looking to get if you can help them bridge that gap and get the answers quicker, a lot of times you can solve those questions ahead of time and stop the buyers from creating a narrative. But again, the lesson is don't get emotional about the situation, look at the facts, try and bridge the gap and come to the best solution in the quickest time.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 48: WYNN WILL IT STOP

The Closers Daily Episode 48. Almost midnight, getting home from a crazy week of travel. But as always we're gonna get this content to you guys daily. And this one's gonna cover the new foreign buyer tax that was just announced by the provincial government. So in BC a little while ago they instituted a foreign buyer tax, thinking they could control the housing market with it and stem some of the crazy price increases and where the real estate market was going there. They decided to do the same thing in Ontario, mainly because of what's been happening in Toronto but actually if you go and search a guy named Simon Giannini he's one of the top real estate agents in Toronto. And he had an interesting point. Only three percent of the sales in Toronto have been from foreign buyers. So you know whenever the governments intercedes and tries to control commodities using regulation it doesn't typically end well. It's gonna be really interesting to see what happens over the next little bit. Next couple days of the series we'll dig in, talk to some different people and get some different perspectives on the issue but that's something you definitely need to know about. Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 47 : DON'T WORRY. BE HAPPY.

The Closer's Daily episode 47
So we're going to continue the conversation about landing property in this crazy market. And another strategy you can use is be really really to people. So, you know in real estate, from showings, to bookings, to offers, to multiple offers, to you being on the listing side, to you being on the buying side, you know there's a lot of stressful situations and things can get pretty tense. There's phone conversations, people can treat people with disrespect, or kind of end things on a bad note. A strategy that we really like to use is always treat people with respect and love and kindness. The same type that I would expect despite the situation. It is just business. It's not my property that I'm selling, it's not my money that I'm investing. It's my buyer's money that I'm investing so I'm there to protect them and guide them along. I have to leave my ego out of every situation because at the end of the day if I respond to somebody in a snappy way and then I'm sitting on the other side of the transaction from them, that's going to come back and bite me in the butt. So today's take away is be really really nice to people because you never know when you're going to be on the other side of the transaction. Hope you guys are enjoying the series, take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

Competition in our industry

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When people think of the world of Real Estate, they is a common perception of it being a dog eat dog world. Given the nature of an industry comprised of independent contractors and self run businesses competition is bound to happen. However, the upper echelon's of Real Estate are a very different beast. The 80/20 Rule (20% of the agents do 80% of the business) is one that rings very true in Real Estate. 

From what we've seen there are lots of different types of business operators out there. There are ones who live their lives by a rule of scarcity, where by they view another persons success as someone eating the sandwich off their plate. Constantly living in fear that the success of other is a direct cause of their own failures.  

The flip side of that is there are those out there who will lift others up to new heights, and when they do succeed they feel a certain pride in being able to help someone attain a goal. Over our time in the business, we have developed and maintained relationships with agents who range from local superstars to global entities who do upwards of 78 Million dollars a year in transactions. One this we notice is without fail every one of them lives by this credo:

Success for anyone or any group is ultimately a positive contribution to all people and all groups as it provides validation of the possibilities to all-Grant Cardone

They love watching others succeed. It drives them. It makes them want to be better. For a team like us there is no better motto to follow. We welcome competition, and share openly with others our knowledge, resources and passion. We lift up those who are reaching for new heights and who's goal it is to raise the professional standard in our industry. The more they succeed the higher we will reach and the better the outcome for our clients and those who do business with the 20%.