2020 – Thoughts, Experiences and An Important Real Estate Lesson Learned!

This is the last blog for 2020 and so I thought I might as well write a reflection blog of this year – my thoughts, experiences and share an important lesson that I have learned this particular year.

Not a Covid-Blog
We have been bombarded with news about the pandemic in all forms of media this past year to an extent that the last thing that anyone wants to do is to read another Covid blog.

Good in 2020
I want to stay optimistic and talk about the good things that have occurred in 2020 especially since there have been many to be grateful for despite the pandemic! I strongly believe that what matters is based on your perception and whether you have an optimistic view on life.  Can you recall anything that you feel grateful for?  I would love to hear your point of view!  Since everyone in my family pre-lockdown had been so busy with work/school and life, it was interesting to have a break from our regular busy lives to spend quality time with each other.

Goals Achieved
There are certain goals that we set for 2020 that we have worked extremely diligently towards achieving. I wrote a blog this past summer about becoming the number 1 real estate individual and team in Vaughan during a pandemic which in my perspective is an exceptional achievement for my team. I am extremely proud of my team!  During such uncertain and challenging times, their dedication in transforming and uncovering innovative ways to assist our clients definitely paid off. Read More About the Blog Here.

Other goals we had set for 2020 were predominantly to stay more organized and to continue our game-plan meetings on a weekly basis,  if not daily. As a business owner and an entrepreneur I highly suggest using a game-plan strategy. It is crucial to stay on track, organized, motivated and goal-driven. Set a weekly meeting with your team and keep an open discussion to invite all types of ideas and perspectives.

This year our team has expanded with new in-house staff and introducing our newest realtor – Michael Salerno also known as MikeySal. Yes, you guessed it right!  Michael is my brother, a lawyer who switched his career path to follow our father’s footsteps in real estate. 

Additionally we started an electronic monthly newsletter that we send out to our clients to keep them updated with latest news and new listings. If you want to get insider exclusive information of what’s happening in the real estate market in Ontario and in your neighbourhood then email us at info@salernorealty.ca for more information and it is completely FREE! 

Podcast & Mentoring Calls
We finished recording the last episode of Real Talk with Mark Salerno a few days ago having all 8 Episodes released on Youtube and Spotify. You know that I always keep it real with you guys, in these 8 episodes I reveal valuable information that will benefit you, whether you are a new realtor, established realtor, buyer, seller, or if you are an entrepreneur, there is information that is valuable for everyone who are looking for real estate advice. Subscribing to Youtube and listening to my podcasts on Spotify free information, so don’t miss out!

Lessons Learnt
One big lesson I have learnt in 2020 is to walk away from a deal that I know won’t work out.  By that I’m talking specifically about walking away from any listing that I know won’t sell at a certain price, especially when the seller has unrealistic expectations for price compared to the current market value. 

I get a lot of comments and feedback from people occasionally that the prices of the homes I have listed are “overpriced”.  There are two reasons why the prices seem to be “overpriced” to certain people.

Firstly the people who call any listings overpriced are not professional realtors, this meaning that  they don’t know the current market, they don’t understand the value of the properties. They speak out of frustration as they wish to blame realtors for setting the market value of the homes when it is simply about supply and demand.  When I set a price for a home it’s because through my expertise, I know what the home can sell for that price is based on its value. 

The second reason people may feel certain homes are “overpriced” is simply because the homeowner makes the final decision, it’s their home. All a professional realtor can do is to advise his/her clients and give their expert advice. When the seller decides to ignore the recommended listing price as per the realtor, the home may sit on the market for months without selling resulting in increased costs for the realtor and brokerage. 

Hence, a valuable lesson I learnt this year is to listen to my gut feeling when it comes to whether I should stay with a deal or walk away from a listing that won’t sell at an unrealistic price.  It was challenging at first to let go of certain listings this way, trust me. But at the end of the day, as a professional you know what will sell and what will not sell, therefore it is ideal to make a strategic judgement. Listen to my Full Podcast on Price, Greed and Seller Expectations. 

Sign Off
I want to wish you all a Happy and Safe Holiday Season!  Usually this time of the year I visit Florida with my family to celebrate the Holidays there, however this year plans are different as travel is restricted.  I am excited for 2021 and we have particular goals for the new year that we are coming for!

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