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Posts tagged ‘toronto’


Mastermind Topic de Jour. Lost the Listing To a Relative

aunts referralProbably one of the most frustrating things a Realtor has to deal with is losing a listing to a relative. The farther removed the more frustrating it gets. This week, at our Wednesday Mastermind session an agent confessed that this had just happened to her. She had spent weeks with the potential sellers, offering advice, helping them make final preparations for listing. Lots of in-depth conversations about the market and strategies. She got a sense that the sellers really loved her. She met them after selling a unit in the same building and achieved the highest price level per square foot. She had sold other units in the building too. She was not a rookie. So on the eve of preparing the listing and doing final adjustments to the CMA to fine tune the listing price, the owners took a sharp left turn. She received an email stating that their aunt, in London, was going to recommend them an agent in Toronto. (Insert swear word here). She responded with kind words and good luck wishes. That was not what she really wanted to say though. This was bad news to bring to a Mastermind meeting but it got us all thinking about strategy in the hopes that we could save the listing. Remember those times when you walked away from an argument and thought, Oh, if I could go back in time I would have said THIS? Well now was the time to come up with the perfect counter attack…and we had lots of brains working the case. This is what we came up with;

“Dear Mr. and Mrs. Seller. Upon reflection I hope that, before it is too late, you discuss with your aunt the qualifications of the person she is going to recommend. I have sold X number of units in the building including the most recent one in which I negotiated the highest price per square foot for the owners. I am very familiar with the building and believe that I am in the best position to maximize your profit. Please ask your aunt how many suites her recommendation has sold as this will be critical information. I am happy to work in conjunction with your aunt and provide her with bi-weekly updates and showing feedback if that would make any difference”.

I loved the bit at the end because it hints at the fact that the aunt is only in it for the referral while our agent is making it about quality of service. In the end however, despite a noble effort, the aunt won out by claiming that her referred agent had more experience with “new families”. I’m not sure what that even means. Simply put, it’s hard to trump the family relationship. A similar thing happened to me many years ago, in a different market. After 90 days on the market the sellers eventually came back to me and my neighbourhood expertise and I got the job done. The fact remains that with as many Realtors as there are in the city, it might be worth having a discussion about family agents early on in the conversation.

mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and President of the Toronto Real Estate Board. The opinions expressed here do not reflect the opinions of TREB or Bosley RE.


Should Prospecting Be Painful?

Well its good to be back. As I mentioned in the video it has been tough getting out over the last few months but the weather has finally turned. Seriously, not running made me completely squirrely. It’s one thing to work out but running gave me so much more. Basically, I have a busy life. I truly need those few hours of meditative time to put everything into perspective, think about what I need to focus on, and flex my creative muscles. So, back to running. This run was one of the early ones I did in March so I was feeling the burn in my legs. It made me think about this topic.
Do you know the pain you get after a hard workout? All your muscles hurt. Usually its a sign that you “done good”. Prospecting pain is kind of like that. All the prospecting you’ve done is paying off and you are exhausted from being so frigging busy. You complain about not having a moment to yourself but secretly you love it. The truth is prospecting should never really hurt but you might want to consider that it should at least be painful. Like exercising, you have to shake it up from time to time. If you exercise the same muscles over and over again the gains you make start to diminish. Think about door knocking. Sure it works but you can’t really do it in the dead of winter. The snow and cold gives you the opportunity to try something different. The point of all this? While prospecting has to be a daily routine, you can’t just use one channel. Shake it up, try something new. Naturally I would love your input on what you do to “shake it up”. Have a great day!

mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and President-Elect for the Toronto Real Estate Board. The opinions expressed here do not reflect the opinions of TREB or Bosley RE.


January 2015 Real Estate Market Update

Now for something a little different. Many of you know me as the guy who talks about prospecting, running, and real estate best practises, but I’m also a guy with a lot of knowledge about the real estate market. Does that really come as a surprise to anyone? I run a pretty successful office with over 50 agents in Downtown Toronto. Needless to say every deal ends up on my desk at one point or another and I try to take a half hour every day to go to agent open houses. That helps me stay on top of what’s going on.
Well I don’t sell anymore and I have to say that I really miss that, but I still stay connected to the hundreds of people I sold to in the past. The good news is that Bosley Real Estate is a company with one of the most professional agents in the city. I can attest to the fact that they are truly connected to Toronto’s real estate market and go through some of the most vigorous training there is. So if you are thinking about buying, selling, investing, renting or whatever, start with me first. I will match you to the perfect agent.

mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and President-Elect for the Toronto Real Estate Board. The opinions expressed here do not reflect the opinions of TREB or Bosley RE.

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