The home in Owen Sound will be flipped and sold, with profits going to local charities, source: flippedgreybruce.ca/

You never know when inspiration will strike. Mike Seiler was watching a home renovation show while he and his wife were on holiday when had an idea. With the size of his brokerage, his realtor base and his ties to the community, he wondered: why couldn’t a home be flipped and the proceeds donated to local charities?

Indeed, why not? An energetic, excited Seiler, broker/owner of Century 21 In-Studio Realty Inc. in Owen Sound, Ont., got to work. The realtor, who has about a decade of personal home-flipping experience, spoke to a few colleagues. They loved the idea. Flipping is not new, but involving the community and charities makes this a fresh idea, Seiler says. “I’m notorious for coming up with ideas.”

 

Building a plan to give back

 

He created a business plan, putting his vision on paper. In a nutshell, the plan calls for a house to be purchased (done); renovated with the help of contractors using donated supplies and services in return for advertising/publicity; and cash from the sale to be donated to local charities.

The project relies on getting as much for free as possible—someone donating a product and someone giving their services to install it—in order to make as much for the charities as possible, Seiler says.

His goal is to sell the renovated home for “north of $800,000” with a couple of hundred thousand dollars or more going to the charities.

He and some agents in his office came up with the funds and purchased the house for cash (for an undisclosed amount).

 

Picking the right house 

 

He says the home is an ideal candidate for flipping. It has a “septic that is sized right, a new roof and it’s on a lot that’s over a half acre with mature trees. It’s on Highway 6, a main artery, but is set back from the road.”

The brick bungalow, built around 1978-‘80s, has been home to the second owners for about the last 40 years and shows pride of ownership, Seiler says. However, the renovation will transform its interior.

 

Community collaboration

 

Contractors and suppliers are trading skills/labour/products for advertising that includes being featured in a mini-series on Century 21’s YouTube page, as well as on social media.

Seiler hired two full-time videographers with the hopes that their work will go viral. He says the mini-series will let viewers live vicariously through every contractor and will also include fun time-lapse videos. “If we reach a million viewers, they’re happy and we’re happy.”

Instead of commercials for unrelated products/services, Seiler’s crew will create community spots for those involved with the project to offer them even more value. “We want to shine a light on our contractors and realtors.”

Local planners are on board and a new permit system that makes it easy to pull permits and ensure projects are done the right way will be highlighted, Seiler says. “The show will depict local planners as the superheroes they are.”

The seller is also excited to be involved and will provide some back story about the house in documentary-style interviews, he says. “The (former) homeowner is fuelled up to be part of the project.”

 

The show goes on 

 

Filming began in early January, with good buy-in from Seiler’s brokerage.  “We have north of 40 Realtors and the majority are on board,” he says. (Some bowed out because they are camera shy or were unsure about the type of exposure the show would bring.)

Seiler says it’s important that the project be respectful of everyone involved. “We have zero tolerance for naysayers or those who talk trash on social media.”

The eight-episode video series will be “a mash-up of fun,” with content suited to all ages. It will show homeowners, a target audience that will appreciate knowing how they can get the most from the sale of their house, and how Seiler and his team can help.

 

Adding value beyond the flip

 

“We’re not buying houses,” he says. Instead, “We can help you execute a project like this and make the most money.” 

The YouTube show will premiere on March 14. Episode 1 will include an introduction to the property. Items that can be recycled/reused (the goal is not to just fill a bin, but to find other uses for unneeded items taken out of the house) will be sold at a garage sale at the property on Friday (May 16) of the Victoria Day weekend.

On Saturday, items donated for staging will be sold during an auction run by Easter Seals, Century 21’s long-time charity of choice. Seiler says this event is expected to bring in $20,000 to $50,000.

“We are hoping that we’ll have a firm sale before the auction is over in case the purchaser wants to bid on certain items. We want a clean cash offer, a 30-60 day close and (the buyer to come) with deposit in hand.”

 

A community effort to spread the word

 

The five-month project’s benefiting charities will be announced halfway through the season.

In the meantime, Seiler is encouraging all of his realtors to reach out for publicity about the collaborative project led by the community brokerage. Broker Tim Matthews pitched this story, Seiler says. “Tim is a high performer and a friend.”

For more information about the house, events, sale and tickets, visit the project’s website.

In the luxury real estate market, it’s the calm before the storm of activity that will begin as early as January, as “those in the know take advantage of the opportunity” to buy and sell before the spring market unfolds, says Don Kottick, president and CEO, Sotheby’s International Realty Canada.

“As we conclude 2024, mortgage rates are coming down. Many buyers deferred until 2025. They went to the sidelines and took a wait-and-see approach.”

However, he says, “We’re starting to see pre-transaction activity pick up, as those prepared to enter the market in 2025 begin reaching out to their Realtors and begin searches in anticipation of buying.”

 

Luxury markets already seeing increased activity

 

Kottick says there has already been an uptick in the conventional luxury market, in Toronto for homes priced “north of $4-million and in Vancouver, north of $5-million. Calgary and Montreal remain relatively affordable.”

Single-family homes are the product of choice and there’s a chronic shortage, he says.

Buyers anticipate rates will stay where they are and those “who find the right home will jump into the market after the holidays,” Kottick says. 

Engel & Völkers Chief Financial Officer Andrew Dinsmore says mortgage rate increases “are not as disruptive to the ultra-premium markets, as these buyers tend to purchase homes with much of the equity paid upfront. Canadian luxury markets largely remain stable as real estate remains an attractive investment.”

Anita Springate-Renaud, broker of record, Engel & Völkers Toronto Central, agrees, saying the luxury ($5-million to $10-million) market in the Toronto area where she works has not been impacted by mortgage rates. 

Many buyers shopping in this market are not worried about mortgage rates or qualifying for mortgages, instead using a significant amount of cash and some sort of other form of financing to purchase, she says. “They never buy fully in cash, using a line of credit or other forms of financing.”

 

Inventory is scarce in urban markets

 

Springate-Renaud says, “Luxury outside the city is moving slowly, but inside (Toronto) things are moving. There’s not a lot on the market. A house that was listed for $9-million sold in a week,” she says, adding that in the “$5-million to $10-million price range, potential buyers still have money. Properties in that range are not as impacted as $3-million and under by mortgage rates.”

However, the market has slowed in Ontario’s cottage country, including Collingwood and Muskoka, as well as in horse country, such as King City, Ont. 

The spring real estate market begins early in Toronto when “many people list their homes and try to take advantage of less competition within their neighbourhoods,” while Ottawa and Halifax activity traditionally peaks in spring and fall, Kottick says.

Although there has been a lot of intraprovincial migration, with Ontario, B.C. and Calgary being popular destinations, he expects transactions will become more local as buyers move up or down, or change product type.

He suggests sellers get their properties on the market sooner rather than later to get ahead of the growing inventory.

 

Realtors should learn the nuances of each property 

 

Dinsmore says, “In Toronto, in contrast to the broader housing market, “the luxury housing market ($6-million and above) has seen a significant increase in sales activity, with a rise in the number of units sold in the second half of 2024 compared to the first half.”

Vancouver’s luxury market is stable, he says. “However we are seeing that buyers will pay more for homes in good condition with unique features rather than relying on valuing homes based on nearby comparable sales.

“Nova Scotia’s luxury market has traditionally attracted affluent out-of-province and international buyers, often seeking vacation or second homes. Higher interest rates slowed demand earlier this year, but a recent 50-basis-point rate drop has sparked renewed interest and some offers in sought-after areas like Halifax, the South Shore, Cape Breton and coastal regions,” he says.

To plan for 2025, Dinsmore says real estate advisors should specialize in their local neighbourhoods to better understand the nuances of each property. “This insight helps clients evaluate whether they’re overpaying or getting a fair deal, as differences can vary significantly from house to house and street to street.”

 

Here are a few luxury and ultra-luxury properties on the market in Canada.

Address: 30 High Point Rd. Toronto

Price: $28-million

Details: 8 bedrooms, 13 bathrooms

Listing agent: Jane Zhang, Sotheby’s International Realty Canada

MLS# C9003662

A rare landmark residence in the quietest part of the Bridle Path, this mid-century masterpiece is nestled into a 2.12-acre landscape that includes lush landscaping for privacy.

The Canadian Tire founder’s concrete mansion was designed by architect John C. Parkin. Its light-filled interior includes a four-storey atrium, skylights and large windows.

With 26,000 square feet, it’s suitable for lux living and entertaining on a mega scale, and even has space for a band at the bottom of a 3.5-storey atrium stairway. It also has an indoor and outdoor pool. The agent says, “It’s a phenomenal estate to add to your life’s most valuable collections.”

Video: https://www.youtube.com/watch?v=QjPwmBMJlMA

Photo and Videography credit: Sotheby’s International Realty Canada

 

Address: 45 Park Lane Circle Toronto Ont.

Asking price: $29.8-million

Details: 5+1 bedrooms, 9 bathrooms

Listing agents: Peter Torkan and Paige Torkan,  The Agency Brokerage

MLS# C9374312

In the posh-and-prestigious Bridle Path area, this private gated modern estate was remodelled in 2024. The Los Angeles-style home offers 17,000 square feet of living space on over two acres with a 300-foot frontage.

Built with premium concrete, steel, glass and stone, the home has skylights, glass elevators, a theatre room and a fully equipped gym, a spa with a steam room, a bar and a wine cellar. There are five-plus-one bedrooms and nine bathrooms in total.

Exterior features include a tennis court, a swimming pool, a whirlpool and a heated driveway.

Video:  https://www.instagram.com/reel/DA1Hem1v6N9/

Address: 2106 SW Marine Dr. Vancouver B.C.

Price: $27.5-million

Details: 6 bedrooms, 7+2 bathrooms

Listing agent: Victor Cheung, Sotheby’s International Realty Canada

MLS# R2893685

The Gables Estate, a Tudor residence that’s described by its listing agent as a “testament to unparalleled luxury and contemporary refinement”, is on a 4.25-acre lot offering a view of the Gulf Islands.

The 10,709-square-foot home, built in 1929, has six bedrooms, nine bathrooms, a bright living space filled with natural light and goodies such as a home theatre and wine cellar.

The grounds feature extraordinary spaces for entertaining or quiet enjoyment, an outdoor kitchen, English rose gardens, a boating pond, a path through a forested canopy, a putting green, multiple decks and the piece-de-resistance, a 65-foot infinity pool.

Images: https://www.realtor.ca/real-estate/27027671/2106-sw-marine-drive-vancouver

Address: 5425 Stonebridge Dr. Whistler B.C.

Price: $25-million

Details: 11 bedrooms, 11 bathrooms

Listing Agents: Gregg Baker, Mike Rampf, Engel & Volkers Vancouver

MLS# R2916096

This world-class mountain estate is set on 5.5 acres offering views of Whistler and Blackcomb mountains. It has three buildings — an 8,333-square-foot main residence, a 2,102-square-foot guest house and a 405-square-foot auxiliary house that together offer 11 bedrooms and 11 bathrooms. The main residence features curved timberwork, extra-high ceilings, floor-to-ceiling windows and luxury finishes. The property is designed for four-season entertainment and an indoor/outdoor lifestyle. Highlights include an outdoor kitchen, gas fireplaces, a pizza oven, a built-in barbecue, a heated infinity pool and hot tub, and trails for hiking, snowshoeing and bike riding. 

Images: https://www.realtor.ca/real-estate/27302538/5425-stonebridge-drive-whistler

 

You may be a star while you’re working at a company but how many people get glowing reviews from their former boss after they find a new job?

Karen Yolevski is “a delight to work with and I will miss her. In less than four years she has left a positive mark on our grand old company,” says Royal LePage Real Estate’s CEO Phil Soper. “Carson Dunlop will be lucky to have her leading their team.”

Yolevski, COO at Royal LePage, will join Carson Dunlop Home Inspections on Jan. 6 as its CEO.

Yolevski was based in Royal LePage’s head office in Toronto and happy, she says, to work with Soper, who is known as a stellar leader within the company and industry. During her time at Royal LePage, her portfolio included 21 corporately owned offices in Ontario, B.C. and Quebec. She also served as a key member of the executive team. 

 

A career built on versatility and vision

 

When she joined Royal LePage in 2021, she says her goal was to put “hands and arms around the business, drive innovation, drive brand and build on great services.”

The people-focused leader says she has implemented initiatives to enhance operational efficiency, integrate technology to improve service delivery and helped further solidify the company’s position as an industry leader. She worked to ensure corporate team members felt valued and heard and drove initiatives whether local or while travelling.

Yolevski says her background has followed a winding path. She is a lawyer by trade, having attended Osgoode Hall. As partner in law she specialized in real estate, corporate governance and strategic advisory services. She has held leadership roles in proptech platforms, title insurance and financial services, including Stewart Title Canada as vice president of Residential and Commercial Business Development and president of Nationwide Home Closing Services and Nationwide Recovery Services at Nationwide Appraisal Services.

 

Embracing the next chapter 

 

While working as vice president and chief legal counsel at Flexiti Financial, she found her love for the business and operational sides versus legal and her love for real estate.

Client service is at the centre of all she does. She says she is looking forward to “an exciting opportunity as CEO at Carson Dunlop, a company renowned in the industry for almost a half-century and that has a remarkable reputation,” she says.

Her first order of business is to start in “learning and listening mode, working toward goals, growth and innovation” at the Toronto-based home and residential inspection company and to increase the profile of its lesser-known education and software components.

Yolevski says the home inspection field has more males than females, but women buy homes, so it makes sense to have representation in all aspects of real estate transactions, from Realtor to inspection to aftercare. “It’s important and it’s good business.”

 

A champion for women in real estate

 

She values the opportunities she has had to mentor women to work toward their career goals and to provide mentorship and leadership and looks forward to continuing in that role.

 

Her career has given her the opportunity to travel. “It’s been a gift to do that as part of my work at Royal LePage and my past experience.”

Working with a Canadian company such as Royal LePage has allowed her to learn the nuances of the Canadian market, which varies from region to region. “It makes a difference to have Canadian leadership on the ground.”

Yolevski, who loves Toronto through and through, says her roots and heart are here. However, in a different life, she would have been a broadcaster. She says life took a turn and she has no regrets that she pursued a legal path first. “It’s very useful in business to have a legal background, to be able to absorb information,” says Yolevski, who has a communications undergrad and enjoys public speaking. She often shares her expertise at industry events and provides industry insights to national print, radio and television media.

A bright future ahead

 

As for the glowing remarks from her past employer, she says “I think it’s a testament to the mutual admiration and respect for the people I worked with at Royal LePage. The feeling is mutual.”

She says Soper develops people into leaders and encourages them to use their skills in other opportunities, which shows the professionalism and excellent family-like environment at Royal LePage.

Soper is an “incredible leader, as those in the industry know. He’s the voice of Canadian real estate and has done an incredible job keeping Royal LePage at the forefront. It’s a great relationship to work for and work with him.” Royal LePage Corporate Brokerage is Canada’s oldest operating real estate company and the largest brokerage business by sales volume in the country.

Yolevski is also getting accolades from her new employers. Alan Carson, president and CEO of Carson Dunlop, says, “Karen brings exceptional experience and enthusiasm, and I am excited to support her in her leadership of Carson Dunlop on the next chapter of this home services company.” 

 

Who doesn’t like a good old-fashioned murder mystery? Recently more than 60 of Cailey Heaps’ clients, colleagues and influencers got to play detective, crime-solving up close and personal during a 1930s-inspired event called Murder at the Manor: Rosedale’s Darkest Secret.

“The event was a tremendous success, with attendees enjoying an evening filled with intrigue, elegance and immersive storytelling,” says Heaps, Broker of Record at Royal LePage Real Estate Services Heaps Estrin Team in Toronto.

 

Vintage ambiance and character set the stage

 

Fifty-two Rosedale Rd., a more than 8,500-square-foot, five-bedroom, seven-bathroom home built in 1934, was the backdrop for the gracious event. The brick-and-stone residence is in Toronto’s Rosedale neighbourhood and is currently listed for sale for $10.5 million.

Its high ceilings, grand rooms and beautifully landscaped grounds created the perfect backdrop for Murder at the Manor. Believed to be the home of University of Toronto assistant professor Roland R. McLaughlin in the mid-1930s to mid-1940s, the residence swept guests back in time, Heaps says.

“Guests were treated to an unforgettable murder mystery experience complete with three ‘victims’, a line-up of suspects and a series of clues that brought the property’s unique charm and historical character to life.”

The residence has beautiful, spacious principal rooms and all the goodies, from a dedicated gym to a family/playroom to a primary suite with dual ensuite bathrooms, walk-in closets and a sitting area. The 72×80-foot property has a south-facing garden, a two-car garage and a circular driveway.

 

A carefully curated guest list to expand the property’s reach

 

Complete with canapes, wine and a signature gin cocktail, the event was designed to let guests enjoy the vintage atmosphere. Heaps says the home exudes the sophistication and charm one might associate with a classic mystery novel. As well, “many attendees came in costume, adding a layer of authenticity and excitement to the evening.

“Agents, influencers and clients alike connected to the estate on a new level, experiencing the home in a way that traditional marketing approaches often miss.”

 

A marketing strategy designed to stand out

 

Guests were carefully chosen, with the selection of individuals including prospective buyers, agents who might have clients interested in luxury properties and influencers who could help broaden the property’s reach, Heaps says.

Hosting the event was more expensive than a traditional agent open house, but she says, “Given that 60-plus people attended at a time when there is even more inventory to view than usual, in many ways made it a better investment of time and resources.

Despite the cost, she says, “We felt it was a valuable investment to reintroduce this beautiful property to the market in a fresh and engaging way. The investment was worthwhile because it allowed us to reach new audiences and capture the imagination of prospective buyers and influencers who might otherwise have missed it.”

 

Creating a buzz

 

Fifty-two Rosedale was listed earlier this year when the luxury market was not as strong. Despite its architectural charm and prime location, there were challenges due to shifting economic conditions, she says.

So, coming up with a special marketing plan was top of mind. Once the plot was hatched, Murder at the Manor came together in a couple of weeks. Professional actors were hired and key areas of the home were set up as interactive points in the mystery.

“In today’s market, especially at the luxury level, it’s essential to create a unique story around each property,” she says.

 

She says the homeowners embraced the concept and were very accommodating but chose not to attend the event so guests would feel more comfortable exploring the house and property.

Murder at the Manor “succeeded in generating buzz and new exposure for the listing,” Heaps says. “This approach not only highlighted the home’s architectural beauty but also positioned it as an experience, which is key to capturing the attention of buyers in today’s market.”

 

Lessons in creative marketing for high-value listings

 

For other agents who want to follow in the team’s marketing footsteps, she says, “The key takeaway is to consider the unique qualities of each property and to design a marketing approach that resonates with this story. Today’s buyers are looking for more than just a home. They want an experience and a connection to the space. By investing in creative marketing strategies and tailoring events to highlight a property’s stand-out features, agents can create memorable experiences that set their listings apart, even in a challenging market.”

It’s not the first time Heaps and her team have come up with special marketing ideas and they’ve been recognized for their work. Heaps received the 2024 International Property Award for Best Real Estate Marketing in the Americas.

 

 

Realtor Sam McDadi just racked up another high-end deal, this time setting a record for selling the highest-priced home in Mississauga, Ont.’s history. It’s also the most expensive house sold in the Greater Toronto Area on MLS this year.

The Doulton Avenue estate known as Saint George Mansion was listed for sale for about four months with McDadi of Sam McDadi Real Estate and co-listing agent Victor Brewda of Forest Hill Real Estate.

 

The almost 26,000-square-foot mansion was listed at $25-million, then reduced to $22-million and finally $20-million, the sweet spot that attracted a flurry of interest—seven or eight showings, an impressive number for properties in this price range, McDadi says.

 

Closing the deal: Balancing price with timing

 

It sold for $17.1-million about two weeks later. For the owners “it was a tradeoff—money versus time,” he says. “The owner was ready to get a deal done.”

The property was first listed five years ago, for $50-million. (McDadi was not the listing agent during that time.) 

 

It was on the market for several years under different brokerages that were unsuccessful in their efforts. Then it was McDadi’s turn. He says he was chosen to take over because of his strong foothold in the market, good image and national and international clients. 

 

A strategic marketing plan for a unique property

 

He quickly spread the word to his client base. Some checked out the mansion, however, he says potential buyers were not in abundance because of the home’s still-high price.

McDadi created a multi-pronged marketing plan, spreading the word far and wide, first with his own client list of local and international clients, including those in mainland China and the Middle East, he says.

In addition to traditional media, he leveraged social media to create fresh excitement around a property that had been exposed to the market for years. He reached out to influencers, including athletes, a well-known artist and business people, to create buzz and to expose the house to a variety of markets. Photo shoots for different publications were done at the property and video tours were created. He was in talks with athletes to create marketing videos but the property sold before they could be produced.

 

A rare match between buyer and seller

 

McDadi received two offers, one from a buyer from the Greater Toronto Area and the other from his client, a successful businessman who had lived not far from Doulton Avenue and was familiar with the property.

“It was a good fit for buyer and seller,” McDadi says, adding that the property offers great value to the purchaser. To replace the two-acre property alone would be $10-million and to replace the limestone on the residence would be another $10-million, he says. “It gets to $20-million pretty fast. The purchaser fared well.”

 

Saint George Mansion: A French-inspired “architectural marvel”

 

Saint George Mansion is a French-inspired chateau. It’s an “architectural marvel” designed by world-renowned architect Ferris Rafauli and offers seven bedrooms, 14 bathrooms, an indoor pool and Parisian-inspired interiors, he says. “No expense was spared.” 

Other highlights include imported heated marble floors, intricate workmanship with 14-karat gold details, mirror inlays and extravagant fireplaces.

McDadi says the chef’s kitchen blends with the great room to provide unmatched entertaining space.

 

 

The primary bedroom has a seating area with a gas fireplace, as well as his-and-her walk-in closets and his-and-her four-piece ensuites. The balcony overlooks the grounds.

The three-tiered theatre room has Lamborghini leather seating.

The property, secured by wrought iron gates, has a fenced backyard, a 15-car attached garage and parking for 12 cars.

Built about 10 years ago, the mansion took three or four years to construct, McDadi says. “It’s a special house that was built to live in for generations but plans changed.”

If the mansion looks a little familiar, you may remember it from Netflix’s series Painkiller starring Matthew Broderick, Uzo Aduba and Taylor Kitsch or Amazon’s series The Boys, starring Anthony Starr, Karl Urban and Jack Quaid.

 

A motto for success: Every client counts

 

When he started in real estate over 35 years ago, McDadi focused on first-time buyers and leases. Over the years, he and his clients have grown together.

Team McDadi has sold more than 16,000 homes totalling more than $10-billion in real estate transactions (according to TRREB stats 1988-2023).

The brokerage’s motto, “No home is too big or too small for Team McDadi,” is the secret to his success. McDadi sold the mansion for a record-setting $17.1-million one day and the next day he finalized a $2,000-a-month rental agreement for a family.

He says some agents won’t take leases because the deals are too small, but McDadi’s team treats every client with the same level of dedication and professionalism. “You never know where that deal will lead. Treat every client like they’re the only client.” 

Sam McDadi was recently recognized by a stranger at the airport and congratulated for his new partnership with the Toronto Raptors.

Sam McDadi Real Estate Inc. in Mississauga, Ontario became the official real estate brokerage of the Raptors on November 1, a day sales representative and owner, McDadi, marked with a trip to Scotiabank Arena for the Raptors versus Milwaukee Bucks game. The arena was plastered with McDadi ads.

 

Where it all began

 

It all started innocently enough. About five years ago, McDadi’s friend, Raptors superfan Nav Bhatia, said he had tickets and asked McDadi if he would like them. McDadi thought he’d go to a few games and offer tickets to other people but after the experience of sitting courtside, he was hooked and went to all of the games himself. “This is too much fun,” he says. McDadi even ties his travel to the Raptors’ schedule.

Before the partnership, McDadi, who loves sports and had been a Raptors fan for years, had organically grown a relationship with the basketball organization, helping one player, then numerous players and coaches, with their real estate needs. 

Then, Maple Leaf Sports and Entertainment approached him with an opportunity to partner. It took a couple of months to work out the details of the three-year sponsorship. 

 

How the partnership works

 

McDadi says the partnership is a good fit because he and the organization share the same values. When the Raptors promote McDadi Real Estate as its exclusive broker, it “adds to our credibility and image,” he says. “They talk about us in their venues and online.”

In a news release, Julian Franklin, vice president of partnership development and strategy at Maple Leaf Sports & Entertainment/MLSE, says, “We are pleased to announce Sam McDadi’s long-standing support of the Toronto Raptors has transformed into a dynamic partnership with the team. We are looking forward to introducing exciting joint programming to our fans this season.”

Team McDadi at Scotiabank Arena

 

McDadi attended the Giants of Africa Gala, co-founded by Toronto Raptors president Masai Ujiri. “I was happy to be there and some clients got to meet players,” the realtor says.

 

Successful cross-promotion

 

McDadi promotes the team on his website and other marketing materials, a partnership that benefits both brands. His seven-person marketing team comes up with concepts and once he approves them, it’s full steam ahead. 

McDadi’s Open House, an interview series featuring athletes and celebrities, has included Raptors players. It offers fans a behind-the-scenes look into their homes.

The CP24 segments are a “fun series,” he says from Miami, on location for a shoot with a high-profile athlete for an upcoming feature.

 

Tips for agents who want to follow in McDadi’s footsteps

 

“I’ve been in the business for 35 years now. I’ve worked hard to build a good brand. Slow and steady wins the race. Someone else could have the same level of success, but you must be patient,” he says.

“Things happen organically. Don’t be pushy. With any client, regardless of the price of the property, being pushy doesn’t work. Let things evolve. Don’t try too hard.”

And, an all-important piece of advice: “Keep everything confidential. Don’t post (all kinds of) pictures. Athletes like respect and privacy.”

The Raptors partnership is in its infancy, but McDadi says, “We’re off to a great start. The best is yet to come.” It’s about a successful partnership that benefits both brands, but it’s also about fun and being involved in something you’re passionate about, he says.

 

An industry partnership with the Toronto Blue Jays

 

Broker Jeffrey Kerr of Re/Max Prime Properties Unique Group in Toronto also knows what it’s like to be passionate about a sports team and to have a dream-come-true partnership.

When Re/Max Canada announced that its realtors are the official real estate agents of the Toronto Blue Jays, to say Kerr was pleased would be an understatement. Kerr, who on most days wears a Blue Jays t-shirt, is elated about the national sponsorship, which runs until the end of the 2025 Jays’ season.

“The Blue Jays are the only MLB team in Canada, so it was a good fit with Re/Max promoting the team across the country,” he says.

David O’Reilly, partnerships director for the Toronto Blue Jays, says, “The Blue Jays are Canada’s baseball team and Re/Max has a network of more than 25,000 brokers and agents across the country, making our partnership a perfect match. Together we are working to grow our respective brands and engage Canadians.”

It’s all about brand recognition, Kerr says. “We’re allowed to incorporate the Blue Jays brand in our advertising and website. Brand awareness creates a good connection point with clients. For Jays fans, it’s a conversation starter. It’s a way to build up relationships.”

Jeffrey Kerr at his Blue Jays-themed desk

 

When he visited the Rogers Centre in the fall, Kerr says that seeing Re/Max branding across the arena was very “impactful.”

He’s working on Toronto Blue Jays-related events to offer clients. “I love to take clients to Jays games,” Kerr explains. It’s Blue Jays all the time — he has a Blue Jays flag flying outside his home and when he’s not working, he’s either at a game or watching one on TV. “The Jays sponsorship really speaks to me.”

As for the other side of it, O’Reilly explains, “Our partnership gives Re/Max Canada the ability to leverage the Blue Jays brand in nationwide marketing and communications efforts to help drive brand affinity and consideration among the millions of Blue Jays fans in communities across Canada. We’re grateful for Re/Max Canada’s support and are excited to build a best-in-class partnership in the years ahead.”

 

How to find a meaningful partnership

 

If big league sponsorships are too expensive for small offices or agents starting in the business, Kerr recommends choosing a sport that you’re passionate about and starting by sponsoring a local team.

For example, he sponsors his daughter’s girls’ softball team, called Kerrazy, and says he gets a lot of personal satisfaction by helping the team out. He has a video on his website about the team and its achievements.

Make sure you pick a reputable league and that you have a passion for the sport. “Most sports leagues are looking for sponsorship, so call them and discuss the opportunities. It’s important to support the community you’re working in. If you’re new to the area or a new realtor, call and ask about advertising opportunities.”

Kerr reminds agents that small sponsorships can go a long way. “Conversation = relationships = business.”

 

Finding the perfect home for a client is challenging enough, but it’s a completely different type of search when they need a house that can be modified to be accessible.

“A modified home is a rare commodity so, most often, agents will be tasked with finding a house that can be renovated to meet an individual’s accessibility needs,” says broker and accessible housing expert Jeffrey Kerr of Re/Max Prime Properties Unique Group in Toronto. When searching for a home suitable for modification, he says, “The learning curve is steep.”

Kerr provides some advice about what to look for to determine if a house is modifiable. 

 

How to tell if a house can be modified

 

Meet with your clients to understand their requirements and what accessibility means to them. “Ask if they are working with an occupational therapist, a professional who can determine their immediate needs, what they will need in five years and the longer term, 10 years plus,” he says.

Knowing this helps an agent help their client make the right move the first time. Otherwise, they may have to make multiple moves to accommodate changing needs over the years.

“Don’t be shy about asking questions,” says Courtney, whose husband Mike suffered a spinal injury in 2017. When you ask questions, it’s “an opportunity for the client to use their own language, and you can follow suit. An example is that Mike doesn’t like it when someone says ‘You’re in a wheelchair’. Instead, he refers to himself as a ‘wheelchair user’.”

Kerr says, “Look and understand what your client’s mobility needs are and watch to see how the individual moves in their space and how their house suits (or doesn’t suit) their needs.”

He also advises to ask about budget and geography. “Where do they want to live and is it realistic in terms of budget?”

Expect that most of the time you will be speaking to a parent, a family member, an occupational therapist or a case manager — someone other than the end-user because that individual may be in a rehab hospital.

The rehab team is instrumental in helping individuals make connections. “I get a number of calls from individuals, social workers and staff from places such as Lyndhurst Centre (a Toronto rehabilitation hospital),” says Kerr, who is referred by social workers. For aging parents, it will likely be an adult child who takes the lead. 

 

Mike and Courtney’s journey

 

Mike and Courtney reached out to Kerr after seeing his booth at an accessibility show and reading his book Barrier Free Real Estate: Achieving Freedom At Home.

Years after the injury and after they had spent more than $300,000 on renovations, the couple decided to check out their options rather than tackle another renovation. They wanted more space (they have a seven-year-old child), a second bathroom and to remain in Hamilton, Ontario.

“After the injury, we didn’t want to move. We live across from a park that has paved paths and two playgrounds. It fit our needs at the time,” says Courtney. “We put off renovating the basement but did an addition.”

She says they spent countless hours on research and looked for bungalows with open layouts and good bones. They also wanted two exits and a furnace in a location that would allow for the installation of an elevator.

After six years of living in their modified home, Courtney says they knew what they wanted in their next home. She sent listings to Kerr, who, she says, can look at a listing or a house and tell if it can be modified. Another of Kerr’s assets, she says, is “knowing all the right people (i.e. contractors and elevator installers) to get the job done.”

 

The couple’s new modifiable home

 

 

Kerr says the home Mike and Courtney bought can be further modified to meet Mike’s needs. The house (bought conditional on the sale of their current home) has a wood ramp in the double garage, and a few doors have been widened, but not much else has been done in terms of accessible features.

However, “It is modifiable. It has an open-concept living and dining room and a hallway wide enough for a power chair. The kitchen also works. Mike can reach the dishwasher, sink and stove on the right (stronger) side,” Courtney says.

The lower level has a bathroom but is otherwise unfinished, offering a clean slate for the couple to finish the space to suit their needs. Kerr says they were lucky to find a high basement, which even when finished should be 7.5 feet high.

The couple plans to renovate their new home to include an expanded bathroom with a roll-in shower and a through-the-floor accessibility lift that will connect the main and lower levels.

 

Multiple levels — a no-go

 

When looking for a modifiable home, the entrance (how the individual will get in and out) is an important consideration. “Ideally, the entrance will have a ramp or gently rising landscape to the front door,” Kerr says.

Both Kerr and Courtney feel that if there are steps inside the front door, the house is a no-go. Single-level living is best, especially if the primary rooms, bedroom and bathroom are on one level and there is a double garage with direct access to the house. “It’s nice to pull in and transfer under cover to avoid wet wheels.” (If there are a few steps from the garage into the house, a ramp can usually be built to connect the spaces.)

A two-storey house with suitable space for an elevator is another option. An elevator that connects the lower level, main floor, second floor and garage is the ideal scenario.

 

Consider these other elements

 

Additional considerations include space to store/park wheelchairs and other mobility equipment. Kerr says some people leave their power wheelchairs outside and use a manual chair inside or have backup chairs, so extra storage space is a must. “In condos, make sure there is enough space to park devices and that the spots are beside an outlet.” 

Another point to remember, Kerr says, is that “not everybody needs to move if the right modifications can be made. It’s expensive to move and most people like their neighbourhood and prefer to stay.”

He advises potential clients about what can be done so they can live in their current homes longer. “It could be a matter of renovating the main-floor bathroom or coming up with an entrance solution.”

Although he has developed a good eye for spaces that will accommodate modifications, Kerr says he likes to bring in a modification expert.

“Now that the market has quieted down, extra conditions can be included. I insist that a modification expert look at the home because modifications cost a lot of money. I want to give (clients) the correct advice,” he says. “If I can’t get the modification expert on condition, it pays to have the expert there to view the home early. Explain the situation to the listing realtor. They’re usually understanding and allow extra time for the modification expert.”

Courtney says they insisted on three conditions — approval from a modification expert, conditional upon the sale of their home (they are nervous about the market) and a home inspection.

To encourage the sellers to accept their conditional offer, Courtney and Mike wrote a letter to explain their situation and how serious they were about buying.

 

Kerr has connected with experts over the years, but for those just starting out, companies that do home modifications or residential elevators are a good source of information. “Ask if they know anyone who specializes in accessible renovations,” he advises. “Professionals at rehab hospitals may be able to provide information about who their clients are working with.”

Kerr does some consulting and charges an hourly rate. Having gone through the process of advising the Real Estate Council of Ontario, they are aware and permitted him to act as a consultant, in addition to buying and selling.

With an older population and people’s desire to age in place, as well as all ages needing accessible homes, the demand for modified homes continues to grow. “As long as the work has been professionally done, there is good value in resale,” Kerr points out.

Courtney recommends Kerr’s book, Barrier Free Real Estate: Achieving Freedom At Home, as a good starting point for agents and clients.

 

After almost 50 years in the industry, Jamie Johnston, broker of record/owner of Re/Max Condos Plus Corp. in Toronto, is hanging up his real estate hat.

Over a long and storied career, Johnston has pioneered many concepts, including the use of the lawn sign-and-post program still in use today, and advertising listings on the internet. He also came up with the concept of real estate companies offering both franchises and company-owned offices.

 

Johnston’s background

 

Johnston was born in London, England, and came to Canada as a baby. “I grew up in Ottawa and left home for Queen’s University in Kingston, Ontario — never to return. I started in a real estate brokerage in 1975,” he says.

He played football for five years at Queen’s while earning honourary and master’s degrees in economics. Johnston was also a CFL third-round draft pick.

“I was drafted by the Calgary Stampeders in 1968 in the third round. I was offered a $500 signing bonus and a $6,500 salary. UBC (University of British Columbia) offered me a $2,500 scholarship and a $1,800 research assistantship to do my MBA. Back then, tuition for an MBA was $750,” he says.

Johnston chose to attend UBC, where he completed his Master’s degree in real estate and finance.

Before owning his own brokerage, Johnston held a variety of positions in real estate operations, franchising, marketing and relocation, working in every position except sales, he says.

 

Landed executive role in 1975

 

While working with Marathon Realty as an assistant to the president and vice president of finance, Johnston says he was approached by a head-hunter. He interviewed and got an executive position at Canada Permanent Trust in 1975.

“It appealed to me,” Johnston says. “I’m an entrepreneurial person. It was a base salary, commission and profit-sharing, which I found appealing.”

 

Set up and advertised guaranteed sales plan

 

Johnston set up Canada Permanent Trust’s guaranteed sales plan — if a house didn’t sell in 30 days, the company would buy it. He says, “It was a winning strategy.”

He also advertised the program on television, which he says was a first for brokerages.

 

Sign-and-post program: A first in Canada

 

While at Canada Permanent, he brought the lawn sign-and-post program, originating from California, to Canada. Johnston says the signs changed industry advertising.

He knew Canada Permanent had to do something different to keep growing, so he decided the company would offer franchises alongside company-owned offices. “The regulators said we could not operate both, and I asked them where it said that in the Real Estate Act. (It didn’t.)”

 

Instant connection turned successful partnership

 

“I met Jamie in 1986,” says Roy St. John of Re/Max Condos Plus Corp. “He was VP of the Real Estate Franchise division of Canada Trust at the time. I was managing the Royal LePage office in Aurora. We took to each other instantly and it grew into the best partnership that I ever had.  We agreed early that he would be the brains and I would provide the entertainment (plus some sales).”

 

New opportunities

 

Johnston left Canada Trust in the early 1990s, ready to take advantage of the next opportunities, this time with Family Trust and relocation company Employee Relocation Services (ERS).

“Jamie’s first success for our partnership,” says St. John, “was to uncover an opportunity to submit a bid on behalf of ERS to secure the first relocation contract for the annual posting of soldiers employed by the Department of National Defence (DND) across all bases in Canada.

When we met with the heads of all of the major realty brands competing for the contract to learn who had won, a general representing the DND walked past everyone in the circle, straight over to Jamie, and shook his hand. We won the agreement.”

 

Buying a successful business

 

Family Trust was later bought out by Manulife, which was interested in the trust portion of the company, Johnston says, so he and St. John purchased the real estate and mortgage side of the business.

Johnston explains that Family Trust was the first organization in North America to advertise listings on the internet and provide agents with virtual email addresses.

 

More industry innovation

 

“Jamie has a unique ability to assess the past, present and future of our industry,” says St. John. “That’s why, as president of Family Realty, he had us beat the competition in placing our listings and agent profiles on the internet. We even hosted a reception for Toronto Regional Real Estate Board (TRREB) members to learn about the power and applications of web pages and search engines.”

The event was attended by 1,000 TRREB members. Johnston and St. John showed them how to list a property and how to order a pizza online. “The audience was wowed when the pizza arrived right on time,” Johnston says.

“Were smoke and mirrors involved? We’ll take that to the grave,” St. John says.

 

Re/Max Condos Plus is born 

 

Johnston purchased Stinson Realty Corporation in October 1998 and changed the company name to Re/Max Condos Plus Corp., which he says has grown to become the largest resale condominium and loft broker in Toronto.

A handful of years ago, Johnston came up with another new concept that’s “ideal for those who want to own their own company but can’t operate a company,” as he describes it. Johnston explains, “We look after everything. Our admin officer even does Real Estate Council of Ontario audits. That leaves agents to do what they’re best at: sales. They pay all of the commission into the company and pay themselves a draw.”

 

Winding down

 

Last year, Johnston says he realized it was time to wind down. In June 2023, he merged his firm with Tim Syrianos of Re/Max Ultimate, with whom he has a working relationship of about a dozen years.

“The merger has been good. We were able to save all staff and our agents work well together,” Johnston says. “I’ve reached my best before date. I’m well in my 70s and have other things I want to do.” 

Although Johnston’s son Jeff is in the business, he’s not interested in taking over. “He said you work too hard and I don’t want to take a pay cut,” says Johnston, adding that some of his agents make over $1 million a year, and he’s thrilled when his agents make more than he does.

Jamie Johnston and son Jeff Johnston. Jamie says Jeff is one of the top agents in the company, they share season tickets for the Toronto Raptors and, about the trophy shown, “That is the championship trophy.”

 

What’s next?

 

Johnston will retire at the end of the year and spend more time at his Tampa, Florida condominium with his wife of 55 years, Sandy. A boat cruise from Boston to the Maritimes is also in the plans, and he wants to spend more time with their three children and seven grandchildren.

And, he says he and his eldest son will be writing a non-fiction book that has “nothing to do with real estate”.

 

Parting words of wisdom

 

After all of his time in the business, Johnston offers some advice for salespeople. Although he never found one, he recommends agents find a mentor. “And agents need to remember rich people are the ones who own companies.” He says that although he made “big bucks”, as an employee he “just got taxed to death. It’s hard to accumulate anything as an employee.”

Thinking back on his career, Johnston says, “It’s been really good. I’ve had a great career in real estate.”

 

This visionary leader will be missed

 

“Everyone who knows Jamie has benefited from his insights and personal counseling, me included,” says St. John. “His retirement is leaving a huge legacy.”

Nancy Sears, corporate business development at Re/Max Premiere Inc. in Vaughan, Ont. has known Johnston for about 30 years. She was Johnston’s number one franchisee for Family Trust, operating Family First Realty. “(Jamie) is one of the most innovative and visionary leaders in the real estate industry,” Sears says. “It has been my pleasure and honour to have known him and worked with him for so long.”

Syrianos agrees that Johnston is a visionary. “There are qualities about Jamie that are clear to everyone who meets him. To me, it has been his authenticity and that he’s a visionary. He has a talent for knowing how to differentiate himself in our industry,” Syrianos says.

“He’s made such a powerful impact in the industry and our Re/Max brand. I am grateful to have also become business partners and worked closely with him over the years.”

 

There are only so many strategies to use when helping a client buy or sell a home, and it’s important to know which ones to pull from your hat to get the deal done.

 

Negotiate and pivot: A must

 

“Real estate goes in cycles, so picking the right practice for the given market is key,” says realtor Toni Sing of Bel-Air Realty Group in Vancouver, who has been in the business for 13 years.

In this tough and uncertain market (deals collapse and buyers and sellers are nervous), she says it’s much harder to patch deals together. “Listing agents must have negotiation skills. If a listing agent is inexperienced, they’re less likely to fight for a (better) price.”

“It’s especially hard for new agents who have not seen a market like this before,” says realtor Desmond Brown of Re/Max Hallmark Realty Ltd. in Toronto. “Young agents who are new to the environment need to learn how to negotiate. Speak to more experienced colleagues. Pick their brains. If you’re on a team, speak to the team leader.”

Be prepared to pivot. Brown says he had a busy summer, after a slower than usual spring. “Then fall came and things slowed down. We had to adjust. It depends on the property, but in a location that is still hot, we still list aggressively and get over-ask. It’s a tale of two markets. Some areas are not going as quickly and sell close to market value,” he says.

He explains that if it’s in a good location, a property is going to sell and might draw multiple offers – it’s just going to take longer. Brown notes the average days-on-market according to TRREB in September was 30 days. He shares the listing inventory in Toronto for September was up 40 to 45 per cent and the average price was up by three per cent. So, it’s back to a more traditional appreciation of homes. “Real estate is still a good investment,” Brown says.

 

“Work it out so the buyers and sellers are happy”

 

“Contrary to headlines, the market hasn’t plunged. It’s not a buyers’ market yet. There’s still over three months of inventory so it’s not even a balanced market yet. If interest rates rise, there will be an increase in inventory. Then it will be balanced before becoming a buyers’ market.”

Brown, who has been in the business for 25 years, stresses the importance of building relationships with colleagues. For example, “give feedback on listings if your client is not interested. Work deals. Don’t get stubborn. Work it out so the buyers and sellers are happy.”

 

Be ready with a pre-approved mortgage and personal letter

 

On Oct. 25, the Bank of Canada didn’t raise rates, so Sing says, “The next six to eight months will be interesting. It means buyers will have more confidence and more time to go ahead with a deal.”

On the buying side, she recommends clients get a pre-approved mortgage so they’re ready to go without delay when a property becomes available.

“A letter of firm pre-approval from a mortgage broker submitted with the offer shows sellers they’re qualified and serious,” Sing says. She also recommends buyers provide a second letter to the family about “why they want to buy the house.”

She notes that if there is a large difference between the asking price and the offer price, a personal letter won’t make a difference, but if offers are close, some sellers may be swayed by an emotional letter.

 

Multiple bid pricing: Dangerous territory

 

“Deals collapse due to financing and trepidation – people are afraid of the market,” Sing says. “However, for buyers looking for an entry-level primary residence, there is not a lot of choice and these clients are not waiting. They will buy a home that’s not quite a teardown and doesn’t have all the bells and whistles, she says.”

Sing says pricing to attract multiple bids is dangerous in this market. “People don’t want to compete and you risk getting stuck with a lower price.”

 

Strategy for open houses

 

The strategy around open houses has changed. In a busy market, Sing says she would hold two or three open houses. Now, there aren’t as many buyers, so she may hold just one open house, reasoning that spreading a few buyers over several days makes the market look bad. Anyone who is looking – and neighbours are looking – will see what seems like a slow market and tell other people in the neighbourhood.

On the other hand, Brown says there are still a lot of buyers and open houses are important. These buyers will go to see if they like a property before they get their agent involved. “There’s not as much traffic showing up, but they are motivated buyers.”

Brown suggests holding open houses the weekend after a property is listed. After that, if it sits on the market, he says the impact of an open house is lost.

Buyers know what’s available and for how much in the neighbourhoods they’re interested in. “They’re on all the apps and know when anything new hits the market,” he says. “They know what’s going on. They are informed about what a property is worth.”

 

Pre-home inspections

 

As for pre-home inspections, Sing says people don’t always do a pre-home inspection. Sometimes having a pre-inspection means being one step closer to the deal because there’s one less condition. However, many buyers prefer to have their own inspections done anyway, so it may be a waste of money.

 

Plan B

 

Then there’s Plan B, which Brown notes that some agents are utilizing: They list a home for about a week, doing the prep work and a lot of marketing leading up to it, in hopes of getting an offer on offer night. If that doesn’t happen, the listing is terminated, the price is increased, the property is put back on the market and the whole marketing scenario starts again.

It’s expected that these properties will be on the market for several weeks. Right now, Brown says, “There are more terminations than solds.”

Plan B is common for a lot of agents, but Brown says it creates a lot of stress for everybody. The key is managing clients’ expectations.

 

From list price to search parameters: Other selling and buying tips

 

When it comes to marketing, Sing spends similar amounts regardless of the price of the property.

Of course, sellers want top-dollar, but when setting a listing price they must be realistic. “They’re not going to get what they could have at the height of Covid,” Brown says, adding clients’ decisions have to be based on what’s going on today. “Give them the information and they’ll make a decision.”

“Drive until you qualify” is still a buying strategy. Brown says buyers in the workforce (not retirees) are still leaving the city. He’s recently had clients moving to London and Kingston, Ontario. “They bought and still had money in the bank.”

When asked whether they should buy or sell first, Brown advises clients to sell first with a long closing. However, there are circumstances where clients who live in an in-demand location are gambling and buying first.

“Selling strategies have changed and sellers now have to exercise patience. Good homes in great neighbourhoods always sell. It’s just taking a bit longer. Buyers now have the luxury of negotiating price and including conditions in offers such as home inspections,” Brown says in an introduction to his latest podcast, Sold in the 6ix, about the current market.

 

Being a realtor is a lot like being a boy scout – you must always be prepared. After all, you never know where a potential buyer’s interest will lie. It could be in anything from a kitchen they think looks pretty, to the minutiae of a property’s mechanical systems.

That’s why Kerri-lyn Holland and co-listing agent Jason Holland of ReMax River City in Edmonton studied every inch of the more than 7,370-square-foot home at 9020 Valleyview Dr. N.W.

 

Most expensive Edmonton listing, #15 in Canada: Point2

 

At $5.995 million, their listing has the distinction of being the most expensive house currently for sale on MLS in the mature neighbourhoods of Edmonton.

The residence ranks 15th on the list of Most Expensive Homes For Sale in Canada’s 25 Largest Cities, a report prepared by Point2 Analysis at the end of September. Properties on the list range from the top price in the country ($59.8 million for a home in Vancouver) to $1.495 million for a house in Regina.

Kerri-lyn and Jason were referred to the owners, who were planning to build a new house and wanted to know the value of their Valleyview home.

 

Discovering the home’s story

 

The realtors helped the owners understand market conditions and what happens with the level of marketing for a house of this calibre.

Kerri-lyn and Jason kept their team tight to ensure privacy for the sellers, then worked to discover the home’s story. “Every house has a story,” Kerri-lyn points out. “Professional photography and videography were arranged and a book was carefully crafted, with the help of a public relations company, to depict the true value, pride and emotion of the house.”

The book tells a story to help buyers understand the value of their investment dollar.

“I’m old school,” she says. “There is an electronic version but I printed the book, which has a semi-hard cover. Each buyer who comes through has a tangible piece to take with them.”

Kerri-lyn recommends that potential buyers study the book before scheduling a viewing because “it’s a unique property and can be overwhelming. The whole main level is devoted to entertaining. The second storey houses family space and the third floor is devoted to the primary suite and a rooftop patio.”

She mentions how rare it is for a home of this type to come to market in Edmonton. “Owners tend to keep the properties in the family,” she says.

 

A unique and special layout + multiple views

 

 

The Valleyview property offers a specific layout designed to capture the views, from the time the occupants wake up until the time they go to sleep. The heart of the home is the kitchen, and by having it on the second floor, a full view can be enjoyed while prepping, cooking or enjoying a meal. Spectacular views can also be enjoyed from the family room, living room and bedrooms.

Kerri-lyn mentions, “The number one point is that there are only so many “view properties” (views of the river and skyline) available.”

 

Comparables and prep

 

 

Understandably, comparables are difficult to find. When determining the asking price, the agents considered land value, as well as the value of the beautiful commercial-grade concrete-and-steel residence. It was custom-built in 2002 by Rescom Construction, which worked with the homeowners to design the interior and exterior of the home.

It took one year to prep the property. The sellers were not in a hurry, which “allowed us to capture the property in spring, summer and fall,” notes Kerri-Lyn.

A professional stager proposed a plan that would accommodate the sellers, who want to live in the home while it’s for sale. The sellers were given a to-do list that included some minor repairs, purchasing new furniture and repositioning existing furniture.

There’s so much to look at, both inside and out, that tours of the property take between 60 and 90 minutes.

 

Balancing privacy with the right amount of exposure

 

Kerri-Lyn mentioned that although the listing is on Realtor.ca for the public to see, there are no public or realtor open houses because of privacy and the exclusivity of the home. Open houses can jeopardize privacy, although there are exceptions.

The agent says they once held a realtor open house with a curated guest list at a $4-million home. It was successful because it was a new home with no occupants. “To protect the owners’ privacy, we don’t hold open houses in occupied houses.”

Privacy concerns are always top of mind. If a media request comes in for an interview, the realtors recommend that the owners do not participate. Instead, she suggests the builder be interviewed.

“You have to anticipate everything, first and foremost privacy, and determine how to market just enough. It’s a fine balance between marketing and overexposure.” She says you can’t keep changing up the marketing and putting the house back out there. “It’s not exclusive if it’s overexposed.”

 

Progress so far

 

The Hollands do regular market updates for the sellers to keep them informed about what’s going on in the luxury market, new listings, price reductions, solds and other stats. The latter, Kerri-Lyn says, “helps us to ensure the right eyes are on the property.”

The home has been on the market since March and has attracted a “good number of showings.” However, at this price point, potential buyers take their time.

“They want to know more before they come forward with an offer. People see it and research the address. With Valleyview and Riverside (another Edmonton street), it’s all about the view. Once (potential buyers) see it, they want to know what they get other than the view,” she says. Since these potential buyers are busy, they’re more inclined to want new or newer homes that are move-in ready.

 

About the house

 

 

This massive five-bedroom, six-bathroom home has a long list of features, from radiant floors to floor-to-ceiling windows that span the length of the home on every floor to a curved face of the home that’s framed by landscaping, believed to have been designed to mimic the adjacent river.

There is a “joyful front door plated with steel and colourful handmade glass inlay. A third-floor skylight floods the living space with light. A 28-foot-high waterfall is flanked by granite and features a handmade glass centre in colours of the ocean.”

Construction features a cantilever design. The purposefully laid-out main floor offers multiple seating areas. The formal dining area accommodates a table for 12, while the chef’s kitchen is designed for large-scale events.

The main level has walkouts to a patio that overlooks landscaped grounds and a patterned heated driveway descends to a four-car garage.

The list goes on.

“There is this notion that you have to go to New York, L.A. or Paris to get high-end and unique finishes, fixtures and art, and I think it really does Edmonton a disservice,” says the owner, in the book about the property.

“When you look, there is such a large bank of talent right here in our city, and these artists are certainly not less than any international talent. They understand our climate (and) our local needs and we have proudly cultivated work from so many local artists and makers to create this home.”

 

Images courtesy of Re/Max River City / Holland & Associates