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Kosta: In this episode, I’m talking with Michelle, Ozimec, the dealer of document of Stanley Realty a new and unbiased brokerage with a give attention to pre-construction and resale properties. We dive into loads of subjects in this episode, together with some recommendations on how brokers can get into pre-construction, promoting a few of the challenges and selling pre-construction, profitable advertising strategies for lead era and promoting, and far, far more. It was such an actual pleasure talking with Michelle, a variety of nice value in this episode and I’ve little question you’ll take pleasure in. So without additional ado, right here’s my chat with Michelle. Hello Michelle. Thanks a lot for becoming a member of me on the Top Agent podcast. I’m actually excited so that you can be here.
Michelle: Thanks for having me. I’m excited to speak to you right now.
Kosta: Awesome. So Michelle, you began your actual estate profession back in 2005. You launched Stanley Realty in 2017 with a want to offer a singular strategy to buying and promoting pre-construction and resale houses. Uh, so a couple of things we’re going to dive into there, however why don’t you kick issues off by telling our viewers a bit about yourself, your background, and why you bought into actual property.
Michelle: Positive. So I began out in healthcare. Um, so I used to be all the time individuals oriented, you already know, in that kind of caring area, um, was about to have my first baby and wanted slightly bit extra flexibility and prospects for the longer term as far as profession that would work around youngsters. Little did I know that it’s very troublesome with any profession, um, however uh, was really interested, uh, had a really supportive husband on the time who was accepted with out me making an attempt one thing new, um, and needed to get into the business area. So, uh, from there I went to a mentor they usually had a, an established brand, um, so far as an actual estate company and obtained into resale, but they have been also capable of put me on, um, a couple of pre-construction websites. So I acquired my ft wet in both areas early on. Um, I consider I did my first actual property deal about three days after my first son was born, so actually jumped in shortly.
Michelle: And then had a very great career with that first brokerage who then opened a pre-construction dedicated brokerage, um, at the similar time. So I used to be capable of flip back and do resale and reconstruction and all the time capable of supply that so far as tools to. And that office provided the most effective of both worlds. Uh, from there I went and worked instantly for a really giant house builder and received to see the internal workings of a house constructing company. Uh, the challenges they face, the opportunities in addition to some really excessive tech advertising methods. After which a left there about simply over a yr ago. Um, because I needed to take on a new problem and in addition help educate and mentor different agents. That’s really my forte is that a mentoring and educating and bringing new opportunities and brainstorming with new agents as well as established brokers, nearly what’s, what works, what’s occurring out there and what we will do higher. So with Stanley, the uh, the aim was to offer agents totally different tools within the repertoire. So even in a slower resale cycle, perhaps that they had opportunities to take buyers to pre-construction tasks, condos and so forth. In order that was the, that was the objective of Stanley.
Kosta: Awesome. Thanks so much for sharing that. So that’s distinctive. Stanley realty has a spotlight, I assume, on the pre-construction market. Are you able to speak a bit more about that? Like precisely what void out there is Stanley realty filling presently?
Michelle: Positive. So when shoppers go to a typical gross sales office for a builder, it can be a bit overwhelming. The contracts are longer, there’s much more authorized jargon that’s specific to the builder aspect of issues they usually’re made that means and their commonplace types and the builders are truthful, nevertheless it’s, it’s onerous to actually get via all of that documentation. A realtors are capable of seek the advice of, assist their shoppers take a look at some potential issues or potential advantages. It’s a completely totally different contract. It requires a special understanding of some of those terms like Terry on warranties, I’m warning clauses just how the deposits are laid out. Uh, and where the deposits set. There’s a, there are a number of totally different gadgets and that settlement in comparison with the standard resale settlement and we have been finding also be engaged on the builder aspect of issues that shoppers have been asking their brokers to deliver them to a sales office.
Michelle: However the agent, we’re brokers we’re on all the time outfitted and not their fault. It’s simply not taught actually in a Ria, um, or Rico, that there’s a particular information base that’s associated with pre-construction houses and the APS and the cooling off period. If it’s Rental, there are a ton of different, uh, it will say definitions and knowledge that shoppers are capable of rely now on a real estate agent who’s educated in that subject to take them right into a sales workplace and symbolize them on the customer’s aspect. In order that they have a concert, a advisor, they’ve kind of a liaison and advisor who is able to help them select the ground plans, take a look at it if it’s an investment or in the event that they’re going to be dwelling there. In case you’re buying for their youngsters a future, you understand, what they will anticipate on the investment, what the rents may be a. So there are numerous different factors that play into buying pre-construction that an agent who focuses on that subject or as information in that area is ready to help them.
Kosta: Yeah, it is sensible. It makes complete sense. My first residence purchase was a pre-construction as properly. So yeah, I totally get the, the several types of contracts and jargon and all that. Um, I, I’d imagine I’m networking and kind of figuring out the appropriate individuals, like builders for example, is extremely essential in being profitable in one of these pre-construction selling. Can you speak a bit about that?
Michelle: Yeah, absolutely. So first information of the product and the venture is crucial. So if you’re bringing your shoppers to a website, understanding a bit concerning the builder story, a understanding you already know, what different tasks they’ve constructed, the standard of their workmanship, a have they got service issues, figuring out all of that and turning into snug and aligning with sure builders is or understanding their product rather well lets you create relationships and convey more consumers to their, their tasks. They recognize that they acknowledge agents who help them. Uh, they acknowledge agents who’re round and pushing their product in slower occasions they usually’re capable of connect really with the, with the sales reps on the gross sales flooring. They’re creating relationships and rapport. As soon as they stroll in that door, they need to, they need the most effective deal for their shopper. The builder needs to do the deal and the sales rep on the floor is basically alleged to be there to help both the agent and the customer get to what they want. In fact they’re representing the builder, but everyone needs, you already know, an excellent transaction and once the customer to be completely satisfied and needs those referrals as far as being bolder. So beginning off building your relationships with the brokers on website, I’m attending particular events, I’m getting in entrance of these builders. They see your identify on broker co-op’s is the place they’re going to acknowledge it probably the most and just ensuring that you simply’re educated concerning the product so that you’re setting sensible expectations and then there are problems with the builder and communication with head workplace perhaps afterward.
Kosta: Yeah, is sensible. Thanks for sharing that. The question I have for you, so you realize, as you realize, actual estate, often a really emotional purchase for a lot of people in compared to resale the place a purchaser can kind of stroll into a home, check it out, touch it, odor it for you at any pre-construction. The customer can’t expertise these issues. Do you ever discover that as a hurdle for some individuals and in that case, how do you overcome that?
Michelle: Yeah, completely. Some individuals have problem visualizing their dwelling area from a plan a and a lot of the flooring plans or black strains, they’re very primary. They could have some furniture drawn on for, you recognize, area measurements. But actually it’s about aspirational selling and actually creating the imaginative and prescient and the picture for these consumers who are going to maybe transfer in in two years in some instances, perhaps longer, perhaps a yr. It is perhaps their first house, perhaps their transfer up residence or they’re downsizing and which case they’ve received a number of furnishings that they could be shifting into, you realize, a two plus den or a town residence. So actually with the ability to paint that image, strolling them by means of a sales workplace in a mannequin suite and saying, you recognize, this, uh, this room is 10 by 10, um, that is averaging in bed room sizes on this building.
Michelle: So you possibly can see yourself in a one bed room, one plus den, a two plus dad. Simply, you already know, I assume drawing comparisons to the area. And then wanting on the finishes and understanding that if there are standards being provided across the market or if there upgrades and that’s a profit, however the builders offering upgraded finishes and those are really promoting points, but there are some instruments that builders are incorporating into their gross sales workplaces, uh, there are spins you are able to do with the digital constructing the place you’ll be able to truly work out which unit you’re in, on the digital model and what your view goes to be. So it simply takes you to that next degree of understanding once I step out on my balcony or once I go out on my terrorist, that is what I’m going to be taking a look at. That is my future view. In order that brings them just a little bit closer, a bit bit. There’s an emotional connection. They will truly see themselves dwelling in that, in that suite or that, that house.
Kosta: Yeah, for positive. I used to be just going to ask you on that, like augmented reality and being greedy like renderings of the house and type of walk by way of it virtually.
Michelle: Absolutely. So yeah, and there’s more know-how popping out about with drones and Vr, which would be actually useful, especially Vr in case you’re taking a look at reconstruction, that’s to be built and you will get a very good system and actually visualize what your area goes to be wanting like. Even digital staging could be very useful and digital renderings of the area and what the finishes might appear to be, like even if you’re bringing the light in via the windows on a rendering, it actually affects the texture and the emotional connection that a purchaser may need to that plan.
Kosta: No, I agree. That’s super useful. For positive. Um, are there another challenges that you can think of when selling a pre-construction house?
Michelle: Um, challenges for pre-construction. I might perhaps say, um, the customer’s expectation and lack of understanding just because it might be a very new course of. Um, you understand, typically the deposits, the staging of the deposits, if they’re, if they’re actually tight, for those who’re an investor, you’re taking a look at placing down 20 % and depending on when that timing has to return in for the builder, it can be slightly harder so far as cashflow. So understanding budgeting and future funds and the way that’s gonna Have an effect on you realize, funds that they have happening. So really being in tune with the customer’s life and on what’s happening with them at the time in order that they will, you already know, ensure that they will afford those deposits, get that mortgage approval and close on the property. So, and there’s an extended time interval and builders have totally different requirements based mostly on mortgage approvals and financing. So that half you really have handy hold some occasions and that’s part of our job is to ensure that the consumers that we’re bringing to those tasks can afford them and may shut because they’re so distant. Right. And it’s aspirational and typically you hope sooner or later that, you recognize, that is my plan, this is what I need to save a. But you actually need to make certain that you possibly can afford that in two years.
Kosta: Yeah, that is sensible. So, so if an agent listening to this, you already know, is interested or needed to get into pre-construction stitching or turn out to be a vip agent with builders, what are a number of the steps or advice you’d give?
Michelle: So first I might ensure that they go to a number of sales workplaces, a stroll right into a sales workplace. She observed the expertise observed, if you recognize, whenever you’re greeted on the door, discover the relationships that and their response to a op tradition. Um, most are very nice and alluring. Um, any you’ll be able to ask questions and educate your self on just the basics of pre-construction earlier than bringing a shopper. And it’s actually essential to be ready. Um, so visit a number of gross sales workplaces and several types of product. I might undoubtedly visit a Rental, you realize, indifferent residence, town houses and townhouses. Just remember to register for numerous tasks. So relying on when you’ve got an area of specialty or a product that you simply’d like to actually promote or you perceive rather well and you are feeling you possibly can promote properly, just remember to register with the builder as a broker so that.
Michelle: And typically you get superior entry and information about these tasks, so simply just remember to register so to get those notifications and then prepare your shoppers, speak about pre-construction, speak about the advantages, assist them perceive before they go to the gross sales workplace, um, after which ensure you’re aligned with a company that may help pre-construction and understands the paperwork there, their gl secretary can process it, understands entrance ends and again ends. All of those things that realtors want to worry concerning the cost and advances and just just remember to have a supportive setting and other people you’ll be able to ask questions if, if the builders not out there, any person can fall again on
Kosta: Strong advice. I keep in mind once I bought my pre-construction house perhaps like five years in the past, uh, I consider that I, like, I wasn’t allowed to or a purchaser agent wasn’t allowed to return in. Is that usually still the case?
Michelle: They weren’t allowed to return in. Typically it’s rare, nevertheless it’s typically, relying available on the market. Most instances builders don’t cooperate with agents. I’m not conscious of a time until it was a special event. Typically they’ll phase their databases, they’ll work with brokers, then they’ll work with their by way of, they’re registering. So these are principally basic, common registrant’s not brokers, they usually might part it off that agents at the moment are not allowed that day or they’re not allowed to return, simply they don’t need maybe agents chatting with their shoppers in, you realize, in line. Um, but if that doesn’t happen typically.
Kosta: Okay, is sensible. Switching gears somewhat bit. So promoting actual property has rather a lot to do with advertising as you already know. So what are a few of your favourite advertising methods when promoting a house for a shopper?
Michelle: So I like networking. I like nose to nose. I like meeting New Individuals and speaking and, you realize, word of mouth, um, you realize, what’s occurring out there. What are you saying? I really like my favorite right now, which I was afraid of at first, his instagram. Um, I feel that constructing your brand as an individual, um, for me it’s our brand as stanley being that indie model and being one thing totally different. Um, but I feel that social media is absolutely essential. Understanding which social media platforms are better for promoting or promotions and which of them are higher for just being your self and letting individuals see how, you understand, your authenticity I feel is basically, really necessary. Um, most people are on the lookout for relationships, they’re in search of a fit and a vibe. Um, they know a ton of realtors, but making sure that you simply’re coming throughout as anyone that they might need to align with.
Kosta: Yeah, for positive. I mean realtor, there’s a lot extra to real estate than just promoting. I mean the whole gamut of things for, you recognize, from advertising and brand consciousness and yeah, good point. What about on the other aspect of selling, what are a few of the profitable ways in which appeal to new leads and new business they’re capable of share? I know you mentioned social media. Is that an enormous driving factor for you, for Your Enterprise?
Michelle: It’s. We, we’ve developed lots of awareness. We’ve additionally carried out some advertisements and retargeting. Search engine optimization, I’m only for awareness because we are new. It wasn’t actually about lead era for us originally, however we have now dealt with quite a few discussions and mastermind periods with our brokers about lead era, so especially in pre-construction, I’ve seen some superb, superb models of a lead era web optimization and Google advertisements and, and it’s really a science that they’ve obtained it right down to and I gained’t give all the secrets proper now, uh, however they, they do spend, but you must just remember to’re spending in the fitting places at the right time and on the proper levels of the event. In order that’s often where it’s essential as earlier than the general public has entry. The agent is invaluable so far as getting them in there as a vip.
Kosta: Yeah, undoubtedly lots of alternative for positive. Um, know-how as we all know, changing rapidly. We touched on earlier about augmented actuality and Vr for example. I’m positive the best way you do enterprise at the moment could be very totally different, totally different than a decade in the past. So how do you determine what tools and apps to make use of in your enterprise?
Michelle: So it’s really about consumer experience. So if it’s handy and it’s straightforward for agents and our shoppers to use, then it’s a win. Um, if it’s handy and it’s cumbersome and it’s troublesome to entry and those types of issues, then it’s simply not going to work. It needs to be concerning the consumer expertise on each side to make it possible for, you realize, our consumers have a simple time of perhaps, I don’t know, signing from overseas, authentic signal, um, has been superb in our office. Um, docu sign, those varieties of platforms. They really have allowed brokers to get to more individuals quicker. Um, we attempt to not use it as the removing of a nose to nose and relationship and make contact with, nevertheless it really is imperative for therefore many individuals, particularly in the event that they’re on shifts or their nation or their trip they usually work remotely. Individuals are shifting around rather a lot each day. In order that device has been superb. I’m so remote signing after which additionally, um, we hear somewhat bit, I feel there was an article lately about cryptocurrency maybe creeping into actual property and I’ve attended a couple of seminars and simply making an attempt to wrap my head round how that may be attainable in the future, however I’ll be watching that intently. Crypto and change platforms ought to be fascinating if they’re capable of apply it to real property.
Kosta: Yeah, a few good foot. Yeah, I totally agree about consumer experience, uh, with apps or just making things straightforward to use for not only your self but in your shoppers and consumers and sellers. So I feel that’s a huge issue and yeah, it’s funny you talked about about crypto foreign money. Um, I feel early, I feel perhaps in the summer or spring of this yr. Uh, I used to be reading in Toronto, a house was listed in bitcoin. Sure. I’m unsure if it truly bought in bitcoin or, or what occurred. I don’t know when you’ve got any info on that.
Michelle: I don’t, I, I watched a program slightly bit about it. I’m an actual property company that was, I feel they have been doing auctions, however I don’t know, I feel that they have been doing it on-line, however I’m not exactly positive the system that they have been utilizing. Um, but yeah, you by no means know. Things have changed so dramatically with those currencies in the previous few years that who knows what they will provide you with.
Kosta: Yeah, precisely. Yeah, undoubtedly something to you and just maintain your eye on for positive. Yeah, positive. So I’m a numbers guy. I Love Julian moving into income commissions, all of the enjoyable stuff. Are you able to share with our viewers what number of transactions your brokerage has closed within the final 12 months or tasks the closed within the next?
Michelle: Um, so we’re pretty new. Um, so we’ve received about, I might say about 25. Um, and we’re trying to minimum at minimal double that in the following yr, however our brokers who’re doing pre-construction, I want the volumes depending on their database and the entry that they get. And if they get allocations, those numbers are small for them. Um, there are some who are trading and doing upwards of 100 offers, 200 deals a yr, uh, on pre-construction as a result of they’ve simply established a tremendous database of buyers and end users everywhere in the southwest Ontario in Toronto.
Kosta: Good massive time numbers. Thanks for sharing that. Um, what’s the one piece of recommendation you’d give to a realtor who’s deciding on what company or brokerage to work with?
Michelle: So I, there are such a lot of questions that new brokers have and I really like the questions as a result of they challenged me to make my company and our packages higher. Uh, however general I feel the agents who have joined Stanley thus far, and what I’m really making an attempt to convey ’em to the actual estate business is it’s just, it’s totally different. It’s a more open, a much less competitive, extra collaborative setting where they’re not afraid to ask questions. For brand spanking new agents, it’s really necessary to be approachable. Uh, you make a mistake and it might trigger somebody money. And your confidence degree whenever you’re first out of faculty is fragile. You want those experiences and you need somebody to steer you through to be able to build that confidence there. You’ll be able to have a tremendous career in real property, and when you line yourself up with an excellent mentor, the sky’s the limit. Uh, but here it’s really about fit by power and respect for everyone we work with and for
Kosta: Sound recommendation. These are all essential. I feel. I completely agree. Um, so Michelle, I do need to be aware of your time. Uh, I do end off each chat with what I name the top three. Are you ready? Sure. Okay. Primary, your favourite real estate or business e-book?
Michelle: Uh, I don’t know if it falls into this class, however the secret. I’m all about what you set on the market and also you get again.
Kosta: Yeah, that’s a, that’s a well-liked one once I requested that question for positive. Great Ebook, Great E-book for positive. A number to your trip spot or a favourite trip spot, Croatia, Croatia. Is that your background?
Michelle: My husband is, and he launched me to that tradition a long time ago and I fell in love once I went there. It’s lovely,
Kosta: Superb. And last question, for those who might go back, what do you would like your 20 yr previous self knew?
Michelle: Uh, that it’s okay to be robust. Typically
Kosta: it’s okay to be robust typically. Personally, don’t take crap typically. Completely. Great Recommendation. Great Advice. Um, and if someone needs to succeed in out or get a hold of you, where’s the perfect place they will find you?
Michelle: Uh, our website or our po quantity. Would you like me to provide the telephone number?
Kosta: You possibly can, but I’ll add all of it within the present notes.
Michelle: It’s as nicely, so it is going to be accessible on our web site. You possibly can send only a contact type and it’s obtained all of our tackle and telephone number there have been all the time obtainable and we have now nice response price, so anytime.
Kosta: Good. Alright, Michelle, thank you a lot for becoming a member of me once more. I really loved our chat. Thanks a lot. We should always undoubtedly do that once more sometime.
Michelle: Sounds good. Thank you so much for having me. All right. All the perfect. Take care.
Kosta: Thanks so much for listening to the Top Agent podcast by Web4Realty. By the best way, we’re offering unique promos to our listeners, go to web4realty.com/topagent and get your first month on us, that’s web4realty.com/topagent to get your first month of service utterly free. Till next time. Over and out. Peace.