This week I talk with Barry Lebow. Barry started in real estate in sales in 1968 and has evolved into one of Canada’s most recognized real estate professionals. A featured real estate columnist, his articles circulate across Canada and around the world. As a popular guest speaker and instructor, he has appeared before real estate and legal audiences across Canada, the United States, Mexico. Panama and the Caribbean. Barry is one of the most versatile of all real estate professionals, given his demonstrated experience in areas including real estate evaluation, brokerage, construction and renovation, mediation, arbitration, mortgage brokerage and of course, his passion – education. This extensive background has qualified him as an expert witness in over 500 court proceedings plus hearings and arbitrations. Lebow reports have been accepted by courts in many countries, from America to China, from Israel to New Zealand. Barry is a community leader who has continually been active raising money or volunteering for various charities or community groups. He sits as a real estate advisor on two non-profit housing boards and supports many charities.
In this episode, Barry talks about his wins and his losses, as well as the charities he holds true to his heart. He has sold over 600 homes in his career and made his first million dollars before he was 20’s. He has also been caught in many economic downturns but has always bounced back with a vengeance. They also talk about the importance of finding your niche and delve deeply into his success principles.
Barry is also very patient about his work with Alzheimers. If you would like to help with his cause please visit the Lebow Family Fund.
Questions and Key Points
- Even when the market goes down you will bounce back.
- When I started I was buying properties in Leslieville for under $10,000 dollars. At one point 1 in 3 renovations in Riverdale where mine.
- It doesn’t matter what time of year it is, product will always be hard to find.
- “He who holds wins”. People who hold the longest reap the biggest benefits.
- You can’t own a rental far away. You need to be there to fix problems. You can hire someone local but then you are losing money.
- No matter where you are, there is always going to be a deal.
- The commercial real estate market is very difficult.
- Lawyers and Accountants are a big part of my business. I have 1500 lawyers in my database.
- If you are selling real estate you need to know who you are.
- The agents that make the most money are the ones who are experts.
- What social media services do you use? I use Facebook and Instagram because it has the demographics that I work with the most.
- I had a bad experience with someone who had Alzheimers and it shook me to my core. This experience made me create The Bennett and Geraldine Lebow Foundation Inc.
- What advice would you give someone starting out in real estate now? 1) Choose a brokerage very carefully. 2) You need to apply what you are learning. 3) Have drive. The one thing in common all successful realtors have is drive. 4) Get a coach and make sure you are coachable.
- ABC – Always Be Counseling
- You have to look at a client, as a client for life.
- I’ve seen people switch brokers because they like the other person better.
- There are 170,000 Canadians that can’t afford proper housing in Toronto.