I’ve been in the real estate business for over 25 years. During this time I’ve learned a lot and have become a well-known figure especially in the sale and purchase of multiplex properties.
It was by chance that I came to Toronto on a trip that would change my life forever. Toronto fascinated me. It was the architecture, the vibe and the diversity of the city that made me decide to call the city home. I had the knowledge of real estate speculation fresh in my mind and using the money I borrowed from various credit cards, I began buying investment properties. Over time I made a name for myself and I’ve done deals all over Toronto.
Being an agent for over 25 years has taught me a lot. I have my Winning Formula. There is no exact formula for success but there are rules that can guide you towards success. In the world of real estate, a successful real estate salesman will have these qualities.
Rule #1: Work Hard
Everyone always says ‘work hard and you’ll succeed’. The term ‘work hard’ is so overused that it’s lost much of its impact but when I say work hard, I mean it. Real estate is all about hustling. Realtors have to wake up in the morning and work hard straight away. Many realtors say they work hard. They tell me ‘Len, I’m working as hard as I can, why isn’t this working’ and I ask them what they’re doing right now. The answer is usually not working. To really embody the value of working hard, you need to push yourself. As a real estate agent, you have to be available at all times and constantly push yourself out of your comfort zone. I often postpone my leisure time to work instead. I don’t even listen to music in the car! You could be calling someone instead of listening to the radio. Truly working hard means going beyond your comfort zone and pushing yourself beyond standard work times and truly commit to the work you’re doing.
Rule #2: Never Give Up
Another commonly used phrase. I believe that you have to keep pushing to the point where you’ll die trying. I get told that if someone put a brick wall in front of me, I’d find a way through. I don’t give up but sometimes things aren’t meant to be. When you’ve tried everything and pushed yourself to the limit, sometimes certain things aren’t meant to be and that you are on the wrong path. Perhaps this is a type of arrogance but arrogance is a part of success, you need to think you are the best in the room in order to gain that confidence to succeed. When you hyper-focus on a goal and you believe that you deserve it, you can push yourself to succeed.
Rule #3: Always Say Yes and Figure It Out Later
I always say yes. Always. You can always figure out the details later. There’s always a solution that you can figure out. You need to be passionate and explore opportunities that are presented to you. Life is short, jump on board or don’t bother at all. You have the capacity to grasp any and all opportunities presented to you, you just need to say yes. There’s also the positive aspect of saying yes. If you say no all the time, you’re going to push potential opportunities away from you both now and in the future. Clients need to be motivated and when you present yourself as a positive influence rather than a negative influence, you are pushing yourself ahead of your competition.
Rule #4: Listen
Listening is a high tier and sophisticated selling tool. But people don’t often really listen to their clients. There’s more to it than just hearing the words that come out of their mouths. Listening encompasses everything – their body language, tone, speech patterns, things they don’t say as well as what they do say. You need to be aware and you need to develop trust with your clients and you do this through listening.
Rule #5: Honesty
Honesty goes both ways. Both sides in the arrangement need to be open and honest for a deal to be successful. I am upfront and honest with my clients. I don’t beat around the bush and I tell them upfront if they are wasting my time. Both parties need to understand their limits and be honest with each other about them.
Rule #6: Freedom
I believe that you should do what you want and follow your interests. That’s lifestyle freedom. You do this by being financially free to pursue your interests and choose the lifestyle you want to live. You have to be extraordinary and be the best version of yourself that you can be. Do a little more than just the standard and always add your flair to give yourself and your clients an edge. I surround myself with extraordinary people with a depth and capacity to the best.
As I said before, there’s no exact formula for success and no measure of being talented. You need to hold your own by being smarter than the rest of your competition. You’ll figure out the details because you have the qualities and drive to push yourself beyond the rest.
When you are a real estate salesman, you are selling yourself to your clients. I will go above and beyond for my clients, a quality that isn’t universal in my industry.
Toronto, to me, is one of the greatest cities in the world and you’re especially lucky if you can call it your home. I believe that with a great and knowledgeable agent at your side, you can make this city your home and live more than comfortably. I myself have done it and I want you to enjoy the same type of success that I’ve worked hard for.
That’s what the Fridman team is about for me. My agents are the best at what they do and, like me, will work tirelessly to get the best possible outcome for their clients. If you want an agent with experience and a no-bull approach, give me a call!
There’s nothing wrong with working hard, saving and putting all that money into your home with the hope of retiring with a comfortable nest egg. I prefer a different approach and choose to live outside the box. Inspired by European immigrants who came to Canada in the ‘50s and ‘60s, the downtown core can be a platform to launch your real estate portfolio. Many of those European immigrants bought homes in the downtown core, lived in one and rented out the rest as prices boomed in Toronto.
That’s the key. Complex made simple. I believe I have a gift that can make you a little or a lot of extra income every month. Let me give you an example: you buy a duplex in the downtown core. You live in a portion of it while renting out the other. Or perhaps you rent the whole structure out. You can then use the money you collect from rent to pay off your mortgage. Simply rinse and repeat with other properties.
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