How long have you been in real estate? How have your years in the industry shaped you?
37 years. Fortunately, I’ve been able to experience 3 market crashes and their respective recoveries afterwards. Having that insight makes it easier to understand what is going on in the marketplace and how to respond accordingly. It also has shown me the value of real estate both from an investment point of view, as well as from a human point of view. A good home in a solid neighbourhood will make a difference for the home owner and their respective families and friends. Investing in real estate, through strategic investments, brings wealth to the client—which ultimately makes a difference to their (and their children’s) lives down the road.
How it has shaped me is, we are first and foremost in the service business. Knowing what it will take to sell a property no matter what the market is. Knowing to be creative, knowing how to keep our clients informed throughout the buying and selling phase and as long as they own that property. Knowing the marketplace—knowing that what I do—impacts others. A smooth real estate transaction leaves my clients in a better space, leaves everyone involved in the transaction in a better place.
How does working with luxury real estate sphere differ from other property types?
Is there really a difference between the different real estate spheres? In each one you have to be professional, be knowledgeable, and be caring for the people you’re working with. The difference I see is what was told to me by a New York Agent once: “When I’m in Soho, I dress Soho. When I’m on Park Avenue, I dress Park Avenue.” The point being, you assimilate with the respective clients. The only difference I notice is that the luxury real estate sphere makes decisions more quickly. In most cases, they already know what they want.
In your view, what is the most challenging aspect of working with luxury real estate?
The most challenging aspect of working with luxury real estate is keeping to my schedule.
What advice would you to provide to young real estate professionals who would like to work in the high-end-housing segment?
For a young real estate professional, I would suggest 2 things, and both revolve around the clients you’re working with. The clients you’ll be dealing with have already achieved success in their respective lines of work and/or investments. Success likes success. Be as successful as you can be in real estate. Learn your business, and practice it to become successful.
The second is to get to know yourself. The more you know about yourself, your strengths or weaknesses, your likes…the more at peace you will be with yourself. The more you know who you are, the more it will naturally flow from you. That energy in turn automatically gets picked up by the clients. Money has energy.
Kevin Loberg of Royal LePage Terrequity Realty conducts business in some of Toronto’s highest-end neighbourhoods, including (but not limited to) Rosedale, Yorkville, Bridle Path, Deer Park, Forest Hill, and Hoggs Hollow.