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Kosta: On this episode, I’m talking with Michelle, Ozimec, the dealer of report of Stanley Realty a brand new and unbiased brokerage with a give attention to pre-construction and resale properties. We dive into numerous subjects on this episode, together with some recommendations on how brokers can get into pre-construction, promoting a number of the challenges and promoting pre-construction, profitable advertising methods for lead era and promoting, and far, far more. It was such an actual pleasure talking with Michelle, lots of nice worth on this episode and I’ve little question you’ll take pleasure in. So with out 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 right here.
Michelle: Thanks for having me. I’m excited to speak to you in the present day.
Kosta: Superior. So Michelle, you began your actual property profession again in 2005. You launched Stanley Realty in 2017 with a want to supply a singular strategy to purchasing and promoting pre-construction and resale houses. Uh, so a couple of issues we’re going to dive into there, however why don’t you kick issues off by telling our viewers a bit about your self, 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 realize, in that kind of caring subject, um, was about to have my first baby and wanted just a little bit extra flexibility and prospects for the longer term so far as profession that would work round youngsters. Little did I do know that it’s very troublesome with any profession, um, however uh, was actually , 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 enterprise subject. So, uh, from there I went to a mentor they usually had a, a longtime model, um, so far as an actual property firm and acquired into resale, however they have been additionally capable of put me on, um, a number of pre-construction websites. So I obtained my ft moist in each 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: After which had a very nice profession with that first brokerage who then opened a pre-construction devoted brokerage, um, on the similar time. So I used to be capable of flip again and do resale and reconstruction and all the time capable of supply that so far as instruments to. And that workplace provided the perfect of each worlds. Uh, from there I went and labored instantly for a really giant house builder and received to see the internal workings of a house constructing firm. Uh, the challenges they face, the alternatives in addition to some actually excessive tech advertising methods. After which a left there about simply over a yr in the past. Um, as a result of I needed to tackle a brand new problem and in addition assist educate and mentor different brokers. That’s actually my forte is that a mentoring and educating and bringing new alternatives and brainstorming with new brokers in addition to established brokers, nearly what’s, what works, what’s occurring out there and what we will do higher. So with Stanley, the uh, the objective was to supply brokers totally different instruments within the repertoire. So even in a slower resale cycle, maybe that they had alternatives to take buyers to pre-construction tasks, condos and so forth. In order that was the, that was the objective of Stanley.
Kosta: Superior. Thanks a lot for sharing that. In order that’s distinctive. Stanley realty has a spotlight, I assume, on the pre-construction market. Are you able to speak a bit extra about that? Like precisely what void out there is Stanley realty filling at present?
Michelle: Positive. So when shoppers go to a typical gross sales workplace for a builder, it may be just a little overwhelming. The contracts are longer, there’s much more authorized jargon that’s particular to the builder aspect of issues they usually’re made that method and their normal varieties and the builders are truthful, nevertheless it’s, it’s arduous to actually get by way of all of that documentation. A realtors are capable of seek the advice of, assist their shoppers take a look at some potential points or potential advantages. It’s a completely totally different contract. It requires a unique understanding of a few of these phrases like Terry on warranties, I’m warning clauses simply how the deposits are laid out. Uh, and the place the deposits set. There’s a, there are a variety of totally different gadgets and that settlement in comparison with the standard resale settlement and we have been discovering even be engaged on the builder aspect of issues that shoppers have been asking their brokers to deliver them to a gross sales workplace.
Michelle: However the agent, we’re brokers we’re on all the time outfitted and never their fault. It’s simply not taught actually in a Ria, um, or Rico, that there’s a particular information base that’s related to pre-construction houses and the APS and the cooling off interval. If it’s Apartment, there are a ton of various, uh, it will say definitions and knowledge that shoppers are capable of rely now on an actual property agent who’s educated in that subject to take them right into a gross sales workplace and symbolize them on the customer’s aspect. In order that they have a live performance, a marketing consultant, they’ve kind of a liaison and advisor who is ready to assist them choose the ground plans, take a look at it if it’s an funding or in the event that they’re going to be dwelling there. Should you’re shopping for for his or her youngsters a future, you understand, what they will anticipate on the funding, what the rents could be a. So there are loads of various factors that play into buying pre-construction that an agent who focuses on that subject or as information in that subject is ready to help them.
Kosta: Yeah, it is sensible. It makes complete sense. My first residence buy was a pre-construction as properly. So yeah, I completely get the, the several types of contracts and jargon and all that. Um, I, I’d think about I’m networking and kind of figuring out the fitting individuals, like builders for instance, is extraordinarily essential in being profitable in such a pre-construction promoting. Are you able to speak a bit about that?
Michelle: Yeah, completely. So first information of the product and the undertaking is essential. So once you’re bringing your shoppers to a website, understanding a bit concerning the builder story, a understanding you understand, what different tasks they’ve constructed, the standard of their workmanship, a have they got service points, figuring out all of that and turning into snug and aligning with sure builders is or understanding their product rather well permits you to create relationships and convey extra consumers to their, their tasks. They acknowledge that they acknowledge brokers who help them. Uh, they acknowledge brokers who’re round and pushing their product in slower occasions they usually’re capable of join actually with the, with the gross sales reps on the gross sales flooring. They’re creating relationships and rapport. As quickly as they stroll in that door, they need to, they need the perfect deal for his or her shopper. The builder needs to do the deal and the gross sales rep on the ground is admittedly alleged to be there to assist each the agent and the customer get to what they want. In fact they’re representing the builder, however everyone needs, you realize, an ideal transaction and as soon as the customer to be pleased and needs these referrals so far as being bolder. So beginning off constructing your relationships with the brokers on website, I’m attending particular occasions, I’m getting in entrance of these builders. They see your identify on dealer co-op’s is the place they’re going to acknowledge it probably the most and simply ensuring that you simply’re educated concerning the product so that you’re setting practical expectations after which there are issues with the builder and communication with head workplace maybe afterward.
Kosta: Yeah, is sensible. Thanks for sharing that. The query I’ve for you, so you realize, as you realize, actual property, often a really emotional buy for lots of people in in comparison with resale the place a purchaser can kind of stroll into a house, test it out, contact 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 furnishings drawn on for, you already know, area measurements. However actually it’s about aspirational promoting and actually creating the imaginative and prescient and the image for these consumers who’re going to maybe transfer in in two years in some instances, perhaps longer, perhaps a yr. It could be their first residence, perhaps their transfer up house or they’re downsizing and which case they’ve acquired lots of furnishings that they could be shifting into, you already know, a two plus den or a city residence. So actually with the ability to paint that image, strolling them by way of a gross sales workplace in a mannequin suite and saying, you already know, this, uh, this room is 10 by 10, um, that is averaging in bed room sizes on this constructing.
Michelle: So you’ll be able to see your self in a one bed room, one plus den, a two plus dad. Simply, you realize, I assume drawing comparisons to the area. After which wanting on the finishes and understanding that if there are requirements being provided throughout the market or if there upgrades and that’s a profit, however the builders providing upgraded finishes and people are actually promoting factors, however 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 possibly can truly work out which unit you’re in, on the digital mannequin and what your view goes to be. So it simply takes you to that subsequent degree of understanding once I step out on my balcony or once I exit 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 nearer, somewhat bit. There’s an emotional connection. They will truly see themselves dwelling in that, in that suite or that, that residence.
Kosta: Yeah, for positive. I used to be simply going to ask you on that, like augmented actuality and being grasping like renderings of the home and type of stroll by means of it virtually.
Michelle: Completely. So yeah, and there’s extra know-how popping out about with drones and Vr, which might be actually useful, particularly Vr in the event you’re taking a look at reconstruction, that’s to be constructed 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 seem like, like even whenever you’re bringing the sunshine in by way of the home windows on a rendering, it actually impacts the texture and the emotional connection that a purchaser may need to that plan.
Kosta: No, I agree. That’s tremendous useful. For positive. Um, are there some other challenges that you can imagine when promoting a pre-construction house?
Michelle: Um, challenges for pre-construction. I might perhaps say, um, the customer’s expectation and lack of know-how simply because it might be a really new course of. Um, you already know, typically the deposits, the staging of the deposits, in the event that they’re, in the event that they’re actually tight, for those who’re an investor, you’re taking a look at placing down 20 % and relying on when that timing has to return in for the builder, it may be a bit harder so far as cashflow. So understanding budgeting and future funds and the way that’s gonna Have an effect on you recognize, funds that they’ve happening. So actually being in tune with the customer’s life and on what’s happening with them on the time in order that they will, you understand, ensure that they will afford these deposits, get that mortgage approval and shut on the property. So, and there’s an extended time interval and builders have totally different necessities based mostly on mortgage approvals and financing. In order that half you actually have handy maintain some occasions and that’s a part of our job is to be sure that the consumers that we’re bringing to those tasks can afford them and may shut as a result of they’re so distant. Proper. And it’s aspirational and typically you hope sooner or later that, you recognize, that is my plan, that is what I need to save a. However you actually need to ensure that you possibly can afford that in two years.
Kosta: Yeah, that is sensible. So, so if an agent listening to this, you understand, is or needed to get into pre-construction stitching or turn into a vip agent with builders, what are a number of the steps or recommendation you’d give?
Michelle: So first I might be sure that they go to a number of gross sales workplaces, a stroll right into a gross sales workplace. She observed the expertise observed, if you recognize, if 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 possibly can ask questions and educate your self on simply the fundamentals of pre-construction earlier than bringing a shopper. And it’s actually necessary to be ready. Um, so go to a number of gross sales workplaces and several types of product. I might undoubtedly go to a Rental, you recognize, indifferent house, city homes and townhouses. Just remember to register for numerous tasks. So relying on when you’ve got an space of specialty or a product that you simply’d like to actually promote otherwise you perceive rather well and you are feeling you’ll be able to promote properly, just remember to register with the builder as a dealer in order that.
Michelle: And typically you get superior entry and information about these tasks, so simply just remember to register in an effort to get these notifications after which put together your shoppers, speak about pre-construction, speak about the advantages, assist them perceive earlier than they go to the gross sales workplace, um, after which be sure to’re aligned with an organization that may help pre-construction and understands the paperwork there, their gl secretary can course of it, understands entrance ends and again ends. All of these issues that realtors want to fret concerning the cost and advances and simply just remember to have a supportive setting and other people you possibly can ask questions if, if the builders not obtainable, someone can fall again on
Kosta: Strong recommendation. I keep in mind once I purchased my pre-construction residence perhaps like 5 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 nonetheless the case?
Michelle: They weren’t allowed to return in. Typically it’s uncommon, nevertheless it’s typically, relying available on the market. Most instances builders don’t cooperate with brokers. I’m not conscious of a time until it was a particular occasion. 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, basic registrant’s not brokers, they usually might part it off that brokers at the moment are not allowed that day or they’re not allowed to return, simply they don’t need maybe brokers chatting with their shoppers in, you already know, in line. Um, but when that doesn’t occur typically.
Kosta: Okay, is sensible. Switching gears somewhat bit. So promoting actual property has so much 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 assembly New Individuals and speaking and, you already know, phrase of mouth, um, you understand, what’s occurring out there. What are you saying? I really like my favourite proper now, which I used to be afraid of at first, his instagram. Um, I feel that constructing your model as a person, um, for me it’s our model as stanley being that indie model and being one thing totally different. Um, however I feel that social media is absolutely essential. Understanding which social media platforms are higher for promoting or promotions and which of them are higher for simply being your self and letting individuals see how, you understand, your authenticity I feel is actually, actually essential. Um, most individuals are in search of relationships, they’re in search of a match and a vibe. Um, they know a ton of realtors, however ensuring that you simply’re coming throughout as any person that they might need to align with.
Kosta: Yeah, for positive. I imply realtor, there’s a lot extra to actual property than simply promoting. I imply the entire gamut of issues for, you understand, from advertising and model consciousness and yeah, good level. What about on the opposite aspect of selling, what are a number of the profitable ways in which appeal to new leads and new enterprise they’re capable of share? I do know you talked about social media. Is that an enormous driving issue for you, for Your Enterprise?
Michelle: It’s. We, we’ve developed a variety of consciousness. We’ve additionally finished some advertisements and retargeting. Search engine optimisation, I’m only for consciousness as a result of we’re new. It wasn’t actually about lead era for us at first, however we’ve got dealt with a lot of discussions and mastermind periods with our brokers about lead era, so particularly in pre-construction, I’ve seen some superb, superb fashions of a lead era search engine marketing and Google advertisements and, and it’s actually a science that they’ve acquired it right down to and I gained’t give all of the secrets and techniques proper now, uh, however they, they do spend, however you need to just remember to’re spending in the proper locations on the proper time and on the proper levels of the event. In order that’s often the place 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 a variety of alternative for positive. Um, know-how as everyone knows, altering quickly. We touched on earlier about augmented actuality and Vr for instance. I’m positive the best way you do enterprise as we speak could be very totally different, totally different than a decade in the past. So how do you determine what instruments and apps to make use of in what you are promoting?
Michelle: So it’s actually about consumer expertise. So if it’s handy and it’s straightforward for brokers and our shoppers to make use of, then it’s a win. Um, if it’s handy and it’s cumbersome and it’s troublesome to entry and people types of issues, then it’s simply not going to work. It needs to be concerning the consumer expertise on each side to be sure that, you already know, our consumers have a simple time of maybe, I don’t know, signing from abroad, genuine signal, um, has been superb in our workplace. Um, docu signal, these kinds of platforms. They actually have allowed brokers to get to extra individuals quicker. Um, we attempt to not use it because the removing of a nose to nose and relationship and call, nevertheless it actually is crucial 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 round lots day by day. In order that device has been superb. I’m so distant signing after which additionally, um, we hear slightly 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 might be potential sooner or later, however I’ll be watching that intently. Crypto and change platforms ought to be fascinating in the event that they’re capable of apply it to actual property.
Kosta: Yeah, a few good foot. Yeah, I completely agree about consumer expertise, uh, with apps or simply making issues straightforward to make use of for not solely your self however on your shoppers and consumers and sellers. So I feel that’s an enormous issue and yeah, it’s humorous you talked about about crypto foreign money. Um, I feel early, I feel perhaps in the summertime or spring of this yr. Uh, I used to be studying in Toronto, a home was listed in bitcoin. Sure. I’m unsure if it truly bought in bitcoin or, or what occurred. I don’t know if in case you have any info on that.
Michelle: I don’t, I, I watched a program slightly bit about it. I’m an actual property firm 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 precisely positive the system that they have been utilizing. Um, however yeah, you by no means know. Issues have modified so dramatically with these currencies in the previous few years that who is aware of what they will provide you with.
Kosta: Yeah, precisely. Yeah, undoubtedly one thing to you and simply hold your eye on for positive. Yeah, positive. So I’m a numbers man. I Love Julian stepping into income commissions, all of the enjoyable stuff. Can you share with our viewers what number of transactions your brokerage has closed within the final 12 months or tasks the closed within the subsequent?
Michelle: Um, so we’re pretty new. Um, so we’ve received about, I might say about 25. Um, and we’re trying to minimal at minimal double that within the following yr, however our brokers who’re doing pre-construction, I want the volumes relying on their database and the entry that they get. And in the event that they get allocations, these numbers are small for them. Um, there are some who’re buying and selling and doing upwards of 100 offers, 200 offers a yr, uh, on pre-construction as a result of they’ve simply established a tremendous database of buyers and finish customers 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 firm 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 firm and our packages higher. Uh, however general I feel the brokers who’ve joined Stanley thus far, and what I’m actually making an attempt to convey ’em to the actual property business is it’s simply, it’s totally different. It’s a extra open, a much less aggressive, extra collaborative setting the place they’re not afraid to ask questions. For brand spanking new brokers, it’s actually essential to be approachable. Uh, you make a mistake and it could actually trigger somebody cash. And your confidence degree whenever you’re first out of faculty is fragile. You want these experiences and also you want somebody to steer you thru so to construct that confidence there. You’ll be able to have a tremendous profession in actual property, and in the event you line your self up with an excellent mentor, the sky’s the restrict. Uh, however right here it’s actually about match by power and respect for everybody 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 finish off every chat with what I name the highest three. Are you prepared? Sure. Okay. Primary, your favourite actual property or enterprise guide?
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 query for positive. Nice Ebook, Nice E-book for positive. A quantity 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 very long time in the past and I fell in love once I went there. It’s lovely,
Kosta: Superb. And final query, in the event you might return, 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. Nice Recommendation. Nice Recommendation. Um, and if somebody needs to succeed in out or come up with you, the place’s one of the best place they will discover you?
Michelle: Uh, our web site or our po quantity. Would you like me to provide the telephone quantity?
Kosta: You would, however I’ll add all of it within the present notes.
Michelle: It’s as nicely, so will probably be accessible on our web site. You’ll be able to ship only a contact type and it’s received all of our tackle and telephone quantity there have been all the time obtainable and we have now nice response fee, so anytime.
Kosta: Good. Alright, Michelle, thanks a lot for becoming a member of me once more. I actually loved our chat. Thanks a lot. We should always undoubtedly do that once more someday.
Michelle: Sounds good. Thanks a lot for having me. All proper. All the most effective. Take care.
Kosta: Thanks a lot 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 subsequent time. Over and out. Peace.