November 2012 (v2)
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Gurinder Sandhu named Re/Max Ontario-Atlantic EVPPage 3
50 lessons mybroker taught mePage 40
Take a page from the Property BrothersPage 12
Issue #281 November 2012
da Post P
t No. 42218523 - Re
dresses to 2255B
en St. E., #1178, Toron
to ON M
Wayne MoenREM interviews theCREA presidentPage 16
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G BY VIS
urinder Sandhu, Re/MaxO n t a r i o - A t l a n t i c srecently appointed exec-
utive vice-president and regionaldirector, was only 18-years-oldwhen he earned his real estatelicence. A few months later, hesold his first condo to the son of alocal hardware store owner.
I went in to buy a screwdriveror something and we just startedtalking, says Sandhu. He said hewas looking for a condo so I startedshowing him some. And, I remem-ber exactly where the one hebought is Weston and Finch (inToronto). It was fantastic. I stillremember the thrill of that sale tothis day.
Sandhu pauses, reflecting onhis first sale. A few seconds later,he bursts into laughter.
Imagine, the person whobought the condo off of me wasnta friend or relative, says the now45-year-old Sandhu. I look backon it now and I think if an 18-year-old tried to sell me real estate, Idlook at him kind of funny. It wasdefinitely an interesting and reallyfun time in my life.
Sandhu continued selling realestate while he went to YorkUniversity to pursue a Bachelor ofArts Degree in economics, fol-lowed by an Honours ofAdministrative Studies degree.This eventually led Sandhu toobtaining his CharteredAccountant (CA) designation.
New designation in hand,Sandhu stopped selling real estate
REM NOVEMBER 2012 3
Gurinder Sandhu named Re/MaxOntario-Atlantic EVPSandhu takes over the position from Michael Polzler, but he says you shouldnt expect changes in the companys management style. By Tony Palermo
six years from when he first start-ed to focus on his new career atKPMG. All he had experienced tothis point was real estate but mov-ing to KPMG exposed him to awhole new world of business.
Every couple of weeks therewas a new assignment or a newcompany, says Sandhu. And Iwas looking at all kinds of differentindustries service providers, man-ufacturers, small companies, bigcompanies and the world was justkind of opening up in my eyes.
Three years later, Sandhuaccepted a position with publishinggiant TorStar Corporation, whichexposed him to business on a glob-al scale. While he says he loved thechallenges and experiences of trav-elling the world, he found thatsomething in his life was missing.
His passion for what he was doingday-to-day was fading.
After having been out of thereal estate industry for approxi-mately 10 years, Sandhu realizedthats what he really missed.
An opportunity came up withRoyal LePage on the relocationside of their business and forSandhu the move was like a breathof fresh air. He was back in thegame and his passion reignited. Acouple of years later, Sandhu waspromoted to vice-president offinance, residential real estate,where he remained for the next sixyears.
A few years later, Sandhu hadthe opportunity to meet withWalter Schneider and Pamela
Alexander of Re/Max a momentSandhu says changed his life.
Walter, Pamela and I connect-ed in a way I never connectedbefore in the business world andreal estate community, saysSandhu. From the very firstmoment we started talking, I real-ized that I belonged at Re/Max. Mygoals were definitely more in linewith theirs.
And so the Re/Max journeybegan in 2010 when Sandhu washired as chief financial officer, aposition he held for about twoyears. Coincidentally, it was almosttwo years to the day that the exec-utive team asked Sandhu tobecome executive vice-presidentand step into Michael Polzlersshoes (Polzler is now the managingdirector of Re/Max Europe.)
I consider it an incrediblehonour that the Polzler familyasked me to run the Ontario-Atlantic region, especially consid-ering this is the first time in the 32-year history of the company that anon-family member has been inthis kind of leadership role, saysSandhu. Its such a terrific feel-ing.
Sandhu says he has no majorshift in direction planned andeveryone can expect a comparablemanagement style to Polzlers.
Our management styles arevery similar, says Sandhu. Weshare the same aggressive visionon how we grow our business.Were both passionate about thebusiness and industry. He is anadvocate for the broker andRealtor, and so am I.
Certainly, the charismaticSandhus passion quickly comesacross when he comments aboutthe ongoing Competition Bureaushearing against the Toronto RealEstate Board (TREB). In his opin-ion, Re/Max and Royal LePagewere caught in the crossfire of sen-sational numbers and media head-lines. He points to the claims thatagents from both companies col-lected over 40 per cent of the com-
missions paid by GTA homeown-ers, totalling approximately $2.2billion.
Wow, big numbers, right?asks Sandhu. Im sure many peo-ple are thinking, pigs at a trough.
But as he says, people need tosit back and boil it down. First, saysSandhu, no one can unequivocallyprove how much commissions arecharged because the data isntreadily available. But even assum-ing $2.2 billion number holds, ifyou divide that amount by thenumber of sales reps in TREB,approximately 36,000, it works outto just over $60,000 per year, perRealtor.
Pigs at a trough? Sandhu asks rhetorically. I dont think so.This represents hard-workingCanadians making a living.
Before parting, Sandhu offers afinal comment about theCanadian real estate market.
There have been a lot of head-lines over the last few weeks abouthow the sky is falling in Canadianreal estate, says Sandhu. Buttheyre pointing out just monthlystats. You have to look at thewhole picture. Year-to-date Augustsales are up 2.8 per cent. Averageprices are basically on par.
He says: Go ahead and putthat on the front page. REM
Pigs at a trough? Sandhu asks rhetorically. I dontthink so. This representshard-working Canadians
making a living.
4 REM NOVEMBER 2012
Multiple ListingsDo you have news to share with Canadas real estate community?Let REM know about it! Email: email@example.com
By Jim Adair, REM Editor
Scotia for closed transactionsannually.
Citadel and Metros combined160 plus licensed Realtors will con-tinue to operate from three loca-tions in Halifax, Bedford andDartmouth.
Shelley Porritt, broker/ownerof Porritt Real Estate Inc., hasjoined the Royal LePage franchisenetwork. The company will nowoperate under the name of RoyalLePage Porritt Real Estate, serving Toronto, Etobicoke andMississauga.
Porritt represents the third gen-eration of a family-owned business,
which has operated since 1955.She received her real estate licensein 1997 and went on to obtain herbrokers license in 2001. Shelley isthe broker of record in the officeshe owns with her parents, Carland Liz Porritt.
Re/Max Legacy officiallyopened its newest marquee loca-tion at Mississaugas Square OneShopping Centre with a grand-opening celebration that com-bined showmanship with innova-tion, showcasing new technologyand the brokerages plans to revo-lutionize the real estate experi-ence, the company says.
Tariq Khursheed, broker/owner, says: Were serious aboutour role in advancing the customer
terling Stephens, owner ofExit Realty Citadel inHalifax, has purchased Exit
Realty Metro from owners WayneCochrane and Jeremy Cowan.The two brokerages will continueto operate independently. Theacquisition gives Stephens themost Realtors of any company inNova Scotia.
Our decision to combineunder one management team withmore locations and more agentssupported by our great administra-tive teams made sense, saysCowan. Cochrane and Cowan willcontinue as agents at Metro. Theyare consistently ranked in the topfive Exit Realty agents in Nova
experience and bringing it into the21st century. Consumers arentfully aware of the possibilities thatexist. Our goals are very ambitious.Were not just going to raise thebar were going to bring it to aremarkable level.
The state-of-the-art, 4,500-square-foot facility incorporatesthe latest in technology and infra-structure, the company says. Itincludes a caf/expresso bar andintegrated presentation suites.
Re/Max Legacy is a pioneer-ing franchise, well ahead of itstime, says Gurinder Sandhu,executive vice-president, regionaldirector, Re/Max Ontario-AtlanticCanada.
The brokerage has threeMississauga offices and 220 full-time sales professionals. It says thenew office has the potential topropel Re/Max Legacys currentsales force to over 400 Realtors byyear-end 2013.
In an industry of continuouschange, one thing has stayed con-stant for sales professionals Milton
Brandson, Ed Eggerer and KeithWilson their commitment to thereal estate business and theirclients. This year, the three friendswill celebrate 35 years with theCentury 21 brand. They all work atCentury 21 Powerrealty.ca inAirdrie, Alta.
Brandson, Eggerer and Wilsonhave seen the industry evolve fromthe days of building wooden signsfor each listing to now, whenonline listings are king. Theyvewatched the town of Airdrie growto become home for more than45,000 residents.