2022 Wrapped; My first year in real estate. Did I make the right choice?
I closed 24 of my own deals in 2022, and helped with 8 of Andrew’s deals. The goal I set for myself was to close 2 deals per month…what gets measured gets done!
Although most of these transactions were in Toronto, I also worked in Oshawa, Ajax, Cobourg, Brooklin, and London.
I’m beyond grateful to my clients for putting their faith in me during my first year in business, THANK YOU SO MUCH!
So, what are my takeaways from this major career change, and did I make the right decision?
Take that leap of faith, especially when it smacks you in the face.
Real Estate always seemed like a distant pipedream to me. The thought of ever leaving my hard-fought CPG career of well over a decade was scary and daunting. How could I leave the security of a regular healthy paycheque, many opportunities for future advancement, and a huge part of my personal and professional identity I had worked at since University? Like with many big life decisions and turning points, sometimes you just need to follow your instincts, take the leap of faith and don’t look back.
Real Estate is a FULL TIME GIG
I honestly have no idea how agents can do a side hustle in real estate. The perception out there tends to be that working in real estate is easy money, but nothing could be further from the truth if you’re doing right by your clients. Like with everything in life you get out what you put in, and the role of “best in class realtor” is demanding and time consuming. Don’t let the slick Instagram ads fool you, this profession is neither easy nor glamorous if you’re doing it well.
There are sharks in the water
The number of situations I’ve encountered this year that veteran agents will tell you “only happen a handful of times in your career, if ever” has been quite comical. Let’s just say I’ve grown up extremely quickly and as they say, what doesn’t kill you makes you stronger. There are some unscrupulous sharks in the real estate waters and I’m now a much more wise swimmer! Ask me for stories over a beer sometime - I promise you will be entertained.
Perception vs. Reality!
What I’ve observed sets a great agent apart from the rest:
Extremely responsive and builds rapport with other agents.
Excellent data analysis to determine market value/pricing strategy.
Knows what due diligence should be done and what red flags to watch out for.
Understands the finer details of negotiation and how to win for the client no matter what the situation is (multiple offers, no other offers, complex conditions, ensuring your deal closes, etc.).
Has a network of trusted providers (mortgage brokers, lawyers, photographers, trades, etc.)
Has an eye for design and can counsel on what level of staging/reno prep to do pre-listing.
Will roll up their sleeves to get the whole job done, while other agents move on to the next deal.
If you fail to plan, you plan to fail.
My #1 learning from my previous life in “big corporate” was that a great mentor and/or manager is, above all else, the most meaningful determinant of your happiness and success. I promised myself I would build my real estate career with this intention and only join the fray of 25,000 other registered agents in Toronto if I was able to find a top-tier mentor whom I could learn from daily and build an excellent working relationship with. I found this in spades with Andrew Dunn, my mentor and friend who has been invaluable in teaching me the trade and helping me understand what separates the great agents from everyone else. I can’t thank him enough for agreeing to work with me, thank you Andrew!!
In conclusion…
I can emphatically say that yes, I made the right choice. I’ve found a new joy in work. Building my business this year has been a labour of love; my work and life now blend together in a much more harmonious and “positive stress” manner. It’s been so rewarding and fun to work with a diverse set of clients - whether helping an amazing Mom and daughter who recently fled the war in Ukraine, a growing family looking for a new home, someone leaving their family home for the first time, or a best friend on the hunt for a wealth-building investment property. Every client is a new challenge and I love rising to the occasion to exceed their expectations, it’s kind of a thrill for me.
The opportunities are endless in this industry and it really is what you make of it. I can’t wait for what comes next.
