One of the few women pioneers in the condominium industry in Canada, Barbara Lawlor is the President and CEO of Baker Real Estate Incorporated, a company that specializes in the project marketing and sales of new home communities, hotel condominiums and resort properties. Her responsibilities include new business development and overseeing the firm’s Canadian, US and overseas offices –a phenomenal venture, as Baker Real Estate Inc., handles new home sales of nearly 2 billion dollars annually. Her astute vision for condominiums becoming the residence of choice in the Greater Toronto Area has proved to be spot on. She is also a much in-demand columnist and speaker.

Most of us have started off in one place, and then veered off into a few directions before coming full circle, have you been in the same career path since you started out?

No, not at all. I grew up in Dublin, Ireland, where I started singing at the age of 12 and joined an all-girl singing group called Maxi, Dick and Twink. I went on to perform for audiences across North America and Europe. Later, I also earned my living acting and modeling. After so many years performing in the entertainment industry, I needed something different and had always been passionate about architecture. I met Martin Atkins in the late ‘80s and went to work for him selling condos. He eventually moved to the US, and I approached Pat Baker, because I found out she was setting up a similar company. The rest, as they say, is history.

Why real estate? Is it the money, the commission, the fame, glamour? Or is there anything deeper and more significant than the superficial eye can see?

It is essentially all of the above. Agents and brokers who work hard and pay attention to the market can make great money. The commission structure keeps us on our toes, continually striving for the best service we can provide. Fame and glamour seem like strange words, but I guess our faces are out there in the public eye, so we are famous in a small way. There is, however, a deeper reason: I consider real estate a noble way to make a living. Matching up people with the right homes for them is incredibly gratifying. I find it inspiring to watch the excitement on purchasers’ faces when they zero in on just the right suite. It is also satisfying to help investors diversify their portfolios as they provide badly needed rental stock in the city. It’s a win-win situation, for sure.

If you’ve watched the film ’99 Homes’ the realtor depicted in the film is shown to be a real shark.  Some realtors are looked at that way, what is it that you can share to change that opinion?

I can tell you that being a realtor takes hard work and dedication. I am a Registered Real Estate Broker and a Fellow of The Real Estate Institute of Canada, having come up through the ranks. I am also the Broker of Record for Baker, which ties me into the licensing aspect of our company. There is tremendous demand on us to uphold the Real Estate Council of Ontario’s stringent rules and regulations. On top of that, we are entrenched in upholding FINTRAC regulations and CASL.  This is certainly not a fluff job in any way. People who go through the necessary study, training and exams really want this career. Good realtors understand that in today’s world, selling is essentially providing information with honesty and integrity. Of course, we want to make sales, but with our reputations depending so much on word-of-mouth, being a “shark” is counterproductive.

Being a Real Estate Broker can be a really lucrative career, what words of advice can you give to the men and women who wish to make this their career of choice?

What I just said in my answer above – work hard and with integrity. I also suggest looking at the industry in a positive and realistic way. Over the past 30+ years, I have read countless predictions by “experts” who espouse doom and gloom. Real estate is cyclical, but even when we are in a “down” cycle, people still buy homes. My advice is to go into real estate with a passion. Considering that this is the business of people helping people, you really and genuinely need to care about your clients. By all means, keep up with the market and evolving demographics, and keep smiling throughout. You will get exactly the same thing out of any career what you invest in it.

You have a popular blog, and are a highly sought after seminar speaker which are great achievements. However, considering the real estate market consists of just 3 parameters: listing, buying, and selling, what other insights do you share that are contemporary and today?

My blogs, columns and presentations offer much more than information on listing, buying and selling. I enjoy being the voice of reason when negativity prevails in the media. I encourage people to look at the big picture, and historically, homeowners do well with their investment. I research all aspects of condominiums so I can pass along tips that help with other related topics, including landscaping and décor ideas. My decades of experience give me a unique perspective on trends, as I have seen many come and go.

Owning a home, or own a condominium–what would you suggest to first time home buyers?

First, “own” is the key word. There is simply no better financial investment they can make in the long haul. As for whether to go low-rise or condominium, that depends. Most first-time buyers decide to buy a condo for the simple fact that they can afford a suite. BILD recently announced that for the first time ever, the average price of a new detached home is over $1 million. Condos also offer incredible convenience because of their locations near public transit nodes. In addition, with today’s hectic lifestyles, condo owners appreciate having exterior and common area maintenance handled for them. What little leisure time they have can be spent using those fabulous fitness facilities, pools, party rooms, theatres, rooftop terraces…you get the picture, right?

In cities like Mumbai, Hong Kong and New York owning an apartment can be a goldmine because of big-time appreciation. The same cannot be said for Toronto–is that a fact, or a myth?

Well, just ask anyone who bought a condo suite in the GTA several years ago, and in the right location. Often, those who buy early in the selling cycle have made money by the time they take possession. And if they are investors, they benefit from a robust rental market that commands ever-increasing rents. I used to say that condominiums are the rental stock of the future, but they are the rental stock of the present and future. As long as we have new people coming to live here, we will need condos as rental units.

You’ve set a benchmark when it comes to integrity, expertise and passion. Would you care to share this with your industry, and the community of what becoming a ‘trusted realtor’ is all about?

Realtors have to remember that trust is earned. Baker Real Estate was founded in 1993 by our Chairman, industry icon Pat Baker, who has always stood for integrity and superb customer service, and who also leads with a ‘PEOPLE ARE EVERYTHING’ philosophy. At Baker Real Estate, we have what I call the three C’s: we are Competent, we have earned Credibility, and we Care – about each other, our clients and their home buyers. We have to captivate potential clients to get their attention, and eventually, their business. This takes ingenuity and complete leadership.

Give us insights about the future of the real estate industry–Canada-wide if possible

I see a great future ahead as Canada continues to attract new residents from around the world, and as I always say, people have to live somewhere. Numerous sources quote that 100,000 newcomers relocate in the Greater Toronto Area alone each year, and as a result, we need 40,000 new units. The industry has only ever been able to construct between 15,000 and 16,000 condominium units in a year, so development has hardly reached capacity. Demand varies from province to province, municipality to municipality, but we will always need new housing stock to fulfill the population’s needs.

What are your measurable goals, achievables, and deliverables, and what does the road map of your career look like?

Being President and CEO of Baker Real Estate Incorporated is a major life goal for me, and I am delighted to have reached it. I love what I do, so I cannot envision doing anything else in the future. This is where I belong. I also love living in Toronto and traveling the world to research real estate in foreign cities. This global perspective has given me great appreciation for our quality of life in Canada. I see the road map of my career taking me even further as I travel to expand my knowledge base, and discover new things everyday.

 

Jude Paul Fernandes / jude@thesouthasiannews