Ever wondered how some real estate agents seem to effortlessly stand out in a crowded market while others struggle to set themselves apart? Despite what you might think, it’s not just about luck or connections; the key to their success often lies in one powerful strategy: niche specialization. 

Trying to be everything to everyone in an industry as competitive as real estate is the quickest way to dilute your efforts and make it harder for potential clients to recognize your value. On the other hand, agents who carve out a niche not only define their expertise but also create a brand that resonates deeply with their target audience.

The importance of setting yourself apart

By focusing on a specific area of the real estate market — whether it’s luxury homes, first-time homebuyers or investment properties — you set yourself apart from the competition and position yourself as the go-to expert in that area. This approach not only enhances your credibility but also attracts clients who are seeking someone with your specific knowledge and skill set. 

In the crowded real estate market, where every agent offers similar services, finding a niche can be the difference between blending into the background and standing out as an expert. But how do you find the right niche for you?

We’ve put together this simple step-by-step guide to help you discover the perfect niche for your real estate career.

1. Identify your strengths and interests

Start by reflecting on what you genuinely enjoy about real estate. Do you love guiding families through the process of finding their forever homes, or do you enjoy the dynamic world of high-end commercial properties?

Your niche should align with your strengths and passions — this will keep you motivated and engaged in your work. Not to mention, clients can sense when you’re genuinely excited about what you do, which builds trust and sets you apart.

2. Research market demand

It’s essential to choose a niche that not only aligns with your interests but also has a high demand and potential for growth. Skipping this step can lead to wasted time and effort in a market segment that doesn’t offer ample opportunities. To avoid pitfalls, utilize local market reports, online search results and social media trends to gauge what buyers and sellers are looking for in your region.

For example, if you’re in an area with an influx of new developments, specializing in new builds might be a lucrative niche that taps into the growing demand.

3. Analyze the competition

Understanding who else is serving the niche you’re interested in is crucial. Too much competition in one area might make it difficult to establish yourself, but if you notice a gap or an underserved segment, that’s your opportunity to step in and make it your own. 

For instance, if there’s a shortage of agents who cater to retirees downsizing their homes, positioning yourself in this niche could lead to impressive results.

4. ​​Consider your ideal client

Think about the type of client you want to work with and tailor your niche to attract them. Whether it’s young families looking for starter homes, investors searching for rental properties or eco-conscious buyers interested in sustainable living, your niche should be defined by the specific needs and desires of your target audience.

Need help identifying your dream real estate client? Read up on branding yourself like a pro and attracting the right-fit clients. 

5. Leverage your niche in your marketing

Once you’ve identified your niche, it’s time to let the world know! Update your branding, website and social media profiles to reflect your niche. Create content that speaks directly to your target audience, showcasing your expertise and the unique value you offer.

By consistently emphasizing your niche specialization, you’ll attract more of the right clients and build a strong reputation as an expert.

6. Stay adaptable

Don’t be afraid to experiment with different niches before settling on one. Are you attracting the clients you want? Are you enjoying the work? If not, refine your focus until you find the sweet spot where your passion, expertise and market demand coincide.

The real estate market is always evolving, and so should your business. Stay informed about industry trends, economic shifts and changes in buyer behaviour. Being adaptable and willing to pivot when necessary will ensure your niche remains relevant and profitable in the long run.

Finding the right niche isn’t just about narrowing your focus — it’s about strategically positioning yourself as the expert in a specific area that resonates with both your strengths and the needs of the market. In doing so, you’ll differentiate yourself from the competition and build a rewarding real estate career.

Realtors, let’s admit it — most houses listed for sale on the market look pretty much the same. Sure, they may come in different sizes, shapes and colours, but the basic layout, design and features often feel like deja vu. 

However, every once in a great while, you may be contacted by someone who wants to sell their truly one-of-a-kind house. This could be a property with a distinct portability feature or a house with an unbelievably low price tag for its sheer size. 

So, if and when you get the chance to sell one of these special homes, do you plan on using your usual sales approach? 

We certainly hope not! Unlike conventional homes, unique properties have a limited buyer pool and distinctive features which means they need a special selling strategy. To guide you through this challenge, we gathered tips from top real estate agents on how to best sell these one-of-a-kind homes. Below are the strategies they shared. 

Tiny houses: Small properties that don’t cost much

A tiny house is what its name implies, a small home usually about 60 to 500 square feet. They’re cost, energy and space-efficient and budget-friendly, too. In fact, prices of some tiny homes in Ontario have recently been as low as $69,000.

Who are the target buyers for this unique property?

• Homebuyers on a budget
• A rent-weary tenant
• Environmentalists and minimalists

What strategies can help sell this one-of-a-kind property?

Emphasize its unique value proposition. As stated, tiny homes are all about affordability and energy efficiency. So, this is what you must focus on during marketing. Here’s an example of how you can highlight the affordability factor of tiny homes to a tenant who is fed up with rent increases.

Let’s suppose you’re selling a tiny home in Toronto — a market where you can get a tiny home for under $100,000. First, show your buyer the market data of how the average asking rent for even a condominium apartment is quite pricey:

Then, point out that it’s not really smart to pay around $2.400 for a condominium apartment in Toronto or even settle for a $2,000 rental in Barrie (as reported for August by rentals.ca). Instead, they could buy the tiny house in Toronto with a 5.0 per cent down payment, pay around $500 monthly on mortgage payments and build their own equity. 

When it comes to the energy-efficiency perk of tiny houses, also highlight it with numbers. For example, you can say that a normal-sized house uses an average of 26-33kW power every day but a tiny home uses just 3-4kW power.

Don’t let compact space be a dealbreaker for buyers. Kamal Pillai, a realtor in Ontario experienced in selling tiny homes, shares, “One main concern that tiny home buyers usually have is limited square footage. Hence, the seller of these houses should try their best to show that the home is thoughtfully designed to maximize every square inch.

They could achieve this by adding space-saving solutions in the home like a fold-out kitchen table or built-in storage. It’s all about making the most of what you have and presenting it in the best light possible.”

Price the home correctly. Unlike traditional homes, you don’t have much historical data to rely on for tiny houses, which makes pricing these properties trickier.

So, set a fair price for the tiny home by calculating the home’s construction costs and the estimated value of its unique features. Also, assess the current demand for tiny homes in the particular neighbourhood to make sure your price aligns with what buyers are willing to pay.

Houseboats: Homes on the water

Yes, houses on the water, also known as houseboats, can be found in the Canadian housing market. In fact, according to some houseboat owners, buying this type of property is one of the best lifestyle choices they have ever made.

A houseboat is a boat designed or modified to be mainly used as a living space rather than for transportation purposes. Some people live on houseboats all year round to enjoy the beautiful views of the water every day while others use them as vacation homes. 

Who are the target buyers for this unique property?

• Nature lovers
• Homebuyers on a budget
• Real estate investors 

What strategies can help sell this one-of-a-kind property?

Give the houseboat a clean and charming look. First impressions matter, even when selling a houseboat. So, advise the seller of the boat to deep-clean every nook and cranny of their houseboat before opening its door to buyers.

Pay extra attention to the kitchen and bathrooms, as they often leave the strongest impression. Also, if saltwater has caused rusty metal hulls in the boat, give it a fresh coat of paint. 

Make sure the houseboat has no severe safety issues. Apart from fixing the aesthetic issues in the houseboat, make sure the houseboat doesn’t have any major safety problems.

To do this, hire an expert marine surveyor who can assess the houseboat’s overall condition including the hull, engine, electrical systems and plumbing. You must also ask the seller if all necessary permits, registrations and insurance documents of the houseboat are up-to-date.

Pick the best time to put the houseboat on the market. The prime selling season for houseboats in Canada is usually from late May to early October.

This is when the weather starts to get warmer in Canada, and people are most interested in spending time on the water. So, showcasing the property during peak boating season lets potential buyers experience the houseboat lifestyle firsthand.

Cottage homes: A vacation home away from home

A cottage is often a cozy, rustic and charming house usually located in a rural or countryside setting.

Most cottages in Canada are specifically built for the warmer months, meaning they can’t handle the chilly weather. However, you can also find a few four-season cottages for sale that are inhabitable at all times of the year.

Who are the target buyers for this unique property?

• Second home-buyers
• Vacation rental investors
• Retirees

What strategies can help sell this one-of-a-kind property?

Highlight how investing in a cottage can pay off. Make sure to highlight to a would-be recreational property buyer that, according to a Re/Max report, Ontario cottages are expected to see a price increase in 72 per cent of recreational markets this year, with values potentially rising by up to 33 per cent.

Also, as interest rates fall, the price and demand for properties including cottages will likely surge more. Sharing these market statistics will help support your point on why your client should make a move now. 

Keep the cottage looking its best for sale. On hearing the word “cottage,” images of a charming property usually come to mind. This is the image the would-be buyers of the property for sale would be expecting, too.

So, do your best to ensure the cottage looks charming, inviting and well-cared for. This means tidy rooms, neatly arranged furniture, sparkling clean windows, shining kitchen counters, a trimmed lawn, blooming flowers and a welcoming porch. 

With carefully thought out and planned strategies like these to sell unique properties, you can easily adapt your sales tactics and get set to achieve a successful sale. 

Welcome to your regular staging advice column designed exclusively for real estate professionals. Whether you’re grappling with how to enhance the visual appeal of your listings or seeking innovative strategies to captivate your target audience, you’ve come to the right place. This is your opportunity to pose any and all staging-related questions and receive expert advice, for free.

No query is too big or small — if it’s about elevating the look of your real estate, we want to hear it and we want to help! Email your questions to ninadoiron@isodesign.ca

When it comes to selling a home, staging has become a crucial element in making a property more appealing to potential buyers. Home staging involves preparing a property to be shown in the best possible light, often by arranging furniture, decorating and sometimes even renovating certain aspects of the home.

However, one question that frequently arises among homeowners and real estate agents is why staging costs differ so much from one stager to another. Several factors impact staging costs, which we’ll get into below.

1. Scope of services    

One of the primary reasons staging costs differ is the scope of services offered by different stagers. Some stagers provide a basic consultation where they advise on how the homeowner can arrange their own furniture and decor. This service might cost anywhere from $150 to $500, depending on the thoroughness of advice provided, the region and the stager’s experience. 

On the other hand, full-service staging involves a more hands-on approach, including the stager bringing in furniture, artwork and accessories. This level of service can cost significantly more, often ranging from $2,000 to $10,000 or even more depending on the size of the home, the quality of the furnishings and accessories and the length of time the staging items are rented.

In some cases, stagers may also offer specialized services like decluttering, deep cleaning or minor repairs, which can add to the overall cost. The more comprehensive the service, the higher the fee. For instance, a stager who also handles renovations or provides high-end luxury furniture might charge significantly more than one who simply rearranges existing items or offers standard-quality furniture.

2. Experience and expertise    

The experience and expertise of the stager also play a critical role in determining cost. A seasoned stager with a proven track record of helping homes sell faster and for higher prices can command higher fees. Staged homes spend significantly less time on the market compared to non-staged homes, which underscores the value of hiring an experienced stager who may charge more because of their ability to deliver results. 

Just like with professionals such as accountants and lawyers, the more experience a home stager has, the higher their fees tend to be. With greater expertise comes a deeper understanding of the market, refined skills and a track record of success, all of which justify the higher cost. 

Experienced stagers often have a deep understanding of buyer psychology, market trends and what appeals to specific demographics. They may also have a well-established network of vendors and resources, which can enhance the staging process. For instance, a stager with 10+ years of experience may charge upwards of $500 per hour for consultation, while a newer stager might charge closer to $200 per hour.

3. Geographical location    

Location is another significant factor in the cost of staging. In high-demand real estate markets such as Toronto, other larger cities and British Columbia, staging costs are typically higher than in smaller, less competitive markets. This is partly due to the higher cost of living and partly because homes in these areas often have higher price points, which can justify a more significant investment in staging.

For example, in Toronto, full-service staging for a mid-sized home might cost anywhere from $5,000 to $10,000, while in smaller cities on the East Coast, the cost could be as low as $2,000 to $4,000. The difference in pricing can be attributed to factors like the availability of staging resources, the cost of transporting furniture and the level of demand for staging services in the area.

4. Inventory and quality of materials    

The quality and type of inventory a stager uses can also influence the cost. Some stagers own a large inventory of high-end furniture, artwork and accessories, which allows them to create luxurious and highly appealing spaces. The cost of maintaining, transporting and insuring this inventory is reflected in their fees.

For example, a stager who uses luxury brands like Restoration Hardware or custom-made furniture will charge more than one who uses standard or rental-grade furnishings. The difference in cost can be substantial — luxury staging can cost 50 per cent to 100 per cent more than standard staging, especially if the home is large and requires many high-end items to appeal to high-end buyers.

We recently staged a $7 million luxury waterfront property, where each room featured expansive dimensions. To complement the scale of the space, we not only incorporated high-end, luxury furniture and accents but also sourced large-scale pieces specifically tailored to suit the grand proportions of the rooms. This ensured the staging was not only visually striking but also appropriately proportioned to the property’s grandeur.

5. Customization and client expectations    

Customization is another factor that can drive up staging costs. Some clients may have specific requests or high expectations that require additional time, effort and resources. For example, a homeowner might want the staging to reflect a certain lifestyle or theme, such as a modern minimalist look or a coastal vibe. Accommodating these preferences often requires the stager to source specific items or make special arrangements, which can increase the overall cost.

Additionally, some stagers offer bespoke services, where every aspect of the staging is tailored to the client’s needs. This level of customization is typically more expensive because it involves more planning, sourcing and sometimes even custom furniture or artwork.

6. Duration of staging    

The length of time the staging items remain in the home can also affect the cost. Most stagers include a certain period (typically 30 to 60 days) in their base price. If the home does not sell within that timeframe and the staging needs to be extended, additional fees will apply. These extension fees can range from a few hundred to several thousand dollars, depending on the stager and the inventory involved.

7. Insurance and liability costs    

Stagers must also account for insurance and liability costs, which can vary depending on the size of the staging operation. Larger companies with more extensive inventories may have higher insurance premiums, which are passed on to the client in the form of higher fees. This includes coverage for potential damages to the home, the staging items or injuries that might occur during the staging process.

8. Overhead costs

Another critical factor that contributes to the varying costs of staging services is the difference in overhead costs between stagers who run large teams and those who operate as solopreneurs. Stagers with a large team often have higher overhead expenses, including salaries for employees, rent for office space, warehouse storage for inventory, transportation costs and insurance for both the business and the team members.

These costs add up and are typically reflected in higher fees for services. For example, a stager with a team may need to cover the costs of a dedicated logistics manager, movers and administrative staff, all of whom play essential roles in delivering a seamless staging experience. 

In contrast, solopreneurs who work out of their homes have significantly lower overhead costs. They often manage all aspects of the business themselves, from client consultations to physically staging the property, which allows them to keep their prices more competitive. However, this can also mean that their capacity is limited and they may not be able to take on as many projects simultaneously as a larger team could. The trade-off between a solopreneur’s lower costs and potentially more personalized service versus a larger team’s resources and scalability is something homeowners and agents should consider when selecting a stager.

The cost of home staging can vary widely from one stager to another due to a range of factors including the scope of services, experience, geographical location, inventory quality, customization, duration and insurance and overhead costs.

When selecting a stager, homeowners and real estate agents should carefully consider what’s included in the service, the stager’s track record and how well the staging aligns with the property’s target market. While it might be tempting to choose the least expensive option, investing in a skilled stager who understands the nuances of the market can lead to faster sales and potentially higher offers, ultimately making the cost well worth it.

Got home staging questions for a future column? Submit them to ninadoiron@isodesign.ca

First-time buyers face more challenges than seasoned property owners. It’s about more than just the sticker shock of spending a tremendous amount of money; it’s also about navigating pre-purchase documents and understanding condominium living.

While affordability, a low-maintenance lifestyle, amenities and convenient locations make condominiums (or stratas) an excellent choice for first-time buyers, the rules, expenses and disputes can dampen the allure of multi-family living.

However, it doesn’t have to be stormy seas for first-time buyers. With proper guidance and patience, the industry can help these first-timers become long-term real estate investors.

How multifamily complexes work

For first-time buyers, stratas or condominiums are confusing words. Simply put, these interchangeable terms are just market-specific ways to describe a multi-family complex, most commonly in the form of an apartment or townhome.

Depending on where the home is located, the word for this multi-family home differs, as does how they’re regulated and governed. For example, in British Columbia, they’re referred to as strata corporations and are governed by the Strata Property Act, while in Ontario, they’re condominium corporations governed by the Condominium Act. Both Acts have specific intricacies but generally outline owners’ rights, the corporation’s responsibilities, dispute resolution and voting.

Diving deeper into the condominium world, the elected board or council, depending on the market, are the decision makers. This group of owners steers the direction of the complex on most issues. Annually, or when a significant need arises, the ownership gathers to vote on bigger issues. The board is also responsible for ensuring the rules are enforced fairly and helping resolve disputes.

This is a substantial amount of work for a group of volunteers, so a management company is often engaged to help ease the strain and provide professional assistance. Sarah Braim, a small business owner, explains that she joined her council to be involved in deciding how her money was being spent. “The monthly fees were not insignificant, and I wanted more say on how the money was spent.”

Reviewing financial documents, rules & bylaws and minutes: Crucial to the decision-making process

Speaking of financial obligations, no two condominiums are created the same. Monthly fees cover the basics across the board: operations and savings. That’s where the similarities end. What’s in the operating budgets can vary wildly depending on the style of the condominium. Newer and more complex communities can have additional costs for amenity features and staffing over and above the basic costs of insurance, maintenance and electricity. Ensuring there’s enough in the operating account to cover the building’s day-to-day expenses is essential.

The savings account is the rainy day fund that covers oversized ticket items like elevator replacements and re-roofing. Failure to appropriately fund either of these accounts results in special assessments or levies, which can cause some extra and sometimes unexpected strain on owners.

Any buyer has a lot to take in, but a new buyer won’t have the experience to navigate this information. Reviewing these critical documents, the rules and bylaws, and the minutes and financials are crucial in the decision-making process.

Tight timing between offer & subject removal means not knowing what to look for can be problematic

Once that perfect apartment has been found, the hard work begins. The window between submitting an offer and removing subjects is often tight, so not knowing what to look for can lead to problems.

Braim shares her experience: “In my first condominium, I wanted the ability to rent the property. I checked the bylaws and it was allowed, but what I didn’t know or understand at the time was that, even though rentals were allowed, there was a waiting list, and I’d be at the bottom.” Other buyers note they missed vital details, like special assessments, when reviewing condominium minutes, leaving them in legal trouble for unpaid assessments.

Jacqueline Adler, a real estate agent with Oakwyn Realty, shares, “Working with first-time buyers is much fun — sometimes more exciting for me than for them! It’s an incredible opportunity to share these moments in their lives.”

Adler notes that working with new buyers differs significantly from working with seasoned clients. She and her team take the time to walk purchasers through each step, explaining everything along the way. As for those hard-to-read documents? Her team carefully reviews them and prepares key highlights for clients. While buyers are still responsible for reading everything, these summaries highlight critical areas to focus on.

Purchasing a condominium for the first time should be an exciting milestone — and for most, it is — but it’s also a period of incredible stress. By offering patience and solid guidance, the industry can support these newbies through the overwhelming process and keep them from running to the hills (or ocean) far from real estate.

A lot can go wrong in a home that can be costly to repair. When showing a home or viewing it with clients, there are some common issues realtors can make buyers aware of when it comes to plumbing.

Every homeowner should at least have a basic understanding of problems that could arise as well as the appropriate professional to remedy the situation. It’s helpful for your clients to have a trusted plumber to call when there’s a problem — sometimes even with small issues because things can quickly escalate.

Following are some plumbing problems your clients may come across. It’s important to have an expert on hand to pinpoint and fix any issues before water damage occurs. On top of dealing with that, they could even end up paying more in water bills thanks to deficiencies.

7 plumbing issues that may require a plumber’s expertise

1. Dripping faucets. Faucets and fixtures in sinks, bathtubs, showers and dishwashers should not drip when turned off. Dripping is often due to worn seals and can lead to higher water bills over time. Addressing these drips promptly can save money and prevent further wear.

2. Leaky pipes. Leaks can occur in both visible and hidden pipes, leading to water damage, mould growth and increased utility costs. A plumber is needed to locate the source of leaks, especially those hidden behind walls or under floors, and to repair or replace the affected pipes.

3. Running toilets. Toilets should not continue to run after flushing. A running toilet indicates an internal leak, which wastes water and increases bills. If jiggling the handle is necessary, components like the flapper valve, float or fill tube may need adjustment or replacement.

4. Clogged or slow-draining sinks. Kitchen sinks often clog due to food debris and bathroom sinks frequently become clogged with hair. While some clogs can be cleared with over-the-counter solutions, persistent issues require professional attention. Using strainers can help prevent clogs by keeping debris out of drains.

5. Sewer line backups. A clogged sewer line can cause significant damage by backing up raw sewage into the home. This issue is often due to tree roots or broken pipes and requires specialized equipment and expertise to diagnose and resolve.

6. Water heater issues. Leaks, sediment buildup or faulty thermostats can lead to inefficient heating or complete failure. A plumber can assess the water heater’s condition and perform necessary repairs or replacements to ensure it operates safely and efficiently.

7. Outdated or banned piping. In older homes, you may find galvanized or polybutylene pipes, which are prone to corrosion and can lead to lead contamination or system failure. Replacing these pipes with modern materials is a complex task that requires a plumber’s expertise.

Other issues

Additional common plumbing issues our inspectors often come across include: 

• No water shut-offs — essential for quickly stopping water flow in emergencies
• No backflow valve — prevents contaminated water from entering the clean water supply
• Improper fittings — can lead to leaks or inefficient water flow
• Incorrect dishwasher connections — improperly installed drain lines can cause leaks
• Loose toilets — can lead to leaks and water damage
• Poor water pressure — may be a sign of underlying plumbing issues

Encouraging your clients to schedule annual home maintenance inspections can help identify these issues early. Home inspectors can spot problems and may recommend local plumbing experts to address any concerns.

An annual inspection is also a great time for homeowners to bring up any issues they’ve noticed throughout the year that weren’t remedied right away. Preventative maintenance not only provides peace of mind, but it can also save money by addressing potential problems before they become major issues.

Understanding insurance needs can be daunting for any small and medium-sized enterprise (SME). Yet as SMEs contend with an evolving landscape marked by economic fluctuations, technological disruptions and heightened regulatory scrutiny, having a robust insurance strategy is crucial to maintaining stability and peace of mind. 

This is particularly true in the real estate industry. In fact, according to Innovation, Science and Economic Development Canada, over 99 per cent of businesses in real estate and rental and leasing are small businesses. To safeguard against uncertainties, it’s crucial to identify specific risks that could jeopardize their operations and seek appropriate, tailored insurance solutions to protect their bottom line.

Unique challenges faced by real estate SMEs

Real estate SMEs operate in a highly competitive and often unpredictable environment. From property management firms to small-scale developers, the risks are diverse — ranging from monetary or reputational harm, they can significantly impact a business’s bottom line. 

For instance, a property manager might be forced to face legal action if a tenant damages a property and the screening process had been inadequately performed. Imagine a scenario where the property manager overlooks the tenant’s previous eviction history during screening. The tenant subsequently causes extensive damage, leading to costly repairs and lost rental income. The property owner then sues the property manager for negligence, claiming that the manager should have identified the tenant’s past issues during the screening process. 

Such situations underscore the importance of having insurance that appropriately addresses highly specific risks. However, knowing which ones you face can be a challenge, and working with an insurance professional who has specialized knowledge and experience in risk assessment is always a good place to start. 

Essential insurance solutions for property managers

Considering the various risks that can jeopardize their operations, property managers operating on tight budgets may see insurance as an expense rather than a necessity, overlooking its importance for business continuity.

Essential coverages for property managers can offer security by mitigating risks that could disrupt operations and stunt future growth:

• Directors and Officers (D&O) Insurance. Protects the personal finances of directors and officers from legal challenges arising from their decisions, offering crucial protection for company leadership.
• Errors and Omissions (E&O) Insurance. Protects professionals whose business decisions may lead to errors, omissions, neglect or breach of duty while providing services resulting in third-party claims.
• General Liability Insurance. Protects against claims of bodily injury, property damage or personal injury that occur within their office premises.

Customized insurance solutions: A necessity, not a luxury

Every industry has its own unique risks, and the real estate industry is no exception — whether it’s residential property management, commercial real estate or development. That’s why working with an insurance professional who understands the specific challenges of the industry can help tailor a policy package that fits a business best. 

One common challenge SMEs face is limited resources. When it comes to insurance, most SME owners don’t have the bandwidth to explore every option available, and this can lead to difficulty in finding comprehensive coverage that properly protects them from a range of exposures.

To address this need, the insurance industry is developing new inclusive policy packages — offering combined policies that are customized for small businesses. This can make it easier for SMEs to manage various areas of coverage and enhance their ability to proactively control risk.

In response to the specific needs of SMEs for a single insurance policy, many are seeking “insurance packages” that combine various coverages into one, including E&O liability, general liability, contents, cyber and legal coverage together, simplifying the management of insurance needs for small businesses.

Balancing affordability with adequate protection and a reliable contact point

Cost is always a concern for SMEs. However, it’s essential to balance the need for affordability with the need for adequate protection. Cutting costs by reducing coverage can lead to vulnerabilities that may be far more costly in the long run. Instead, SMEs should look for insurance providers who offer competitive pricing without sacrificing the quality of coverage. 

Lastly — and perhaps most importantly — having a reliable point of contact during the claim process will help ease the pressures faced by SMEs throughout that time. This fosters trust and facilitates more seamless solutions when an incident arises so that SMEs can focus on what matters most: their business. 

Embracing technological advancements  

Brokers act as a lifeline for SMEs, providing them with products, services and experiences based on the risks they’re exposed to. As the insurance space adopts new technology, brokers can now utilize user-friendly digital portals to better assist real estate SMEs in a timely and efficient manner.

These portals offer real-time quotes and policy issuance, available around the clock, enhancing satisfaction and ensuring that clients can purchase insurance policies at their convenience.

Insurance plays a vital role in risk management for SMEs in the real estate industry. Understanding insurance products and utilizing technological advancements can greatly simplify the process of acquiring comprehensive coverage. Staying informed, leveraging technology and prioritizing comprehensive coverage will help real estate SMEs protect their bottom line and build a resilient business for the future.

Struggling to stand out in a crowded real estate market? It may be time to level up your marketing strategy, as the days of relying on traditional marketing tactics are over.

Today’s homebuyers are savvier than ever, armed with smartphones and endless online resources. To capture the attention of potential clients, you need to be where they are: on their screens.

This is why it’s essential to harness the power of technology and leverage the right tools to effectively reach your target audience, build trust and ultimately close more deals. Here, we’ll share five digital marketing tools that will transform your real estate business and help you stay ahead of the curve.

1. Social media management: Later

Social media is the number one way real estate agents can connect with potential clients in today’s digital age. However, managing multiple social media accounts can be time-consuming! This is where a social media management tool, such as Later, comes in. Later is a tool that allows you to plan, schedule and analyze your posts across various platforms like Instagram, Facebook, Twitter/X and Pinterest.

With Later, you can visually plan your content calendar, ensuring your feed looks cohesive and engaging. This tool also provides analytics to track your performance and understand what content resonates most with your audience. By automating your social media strategy, you free up more time to focus on what you do best — selling and buying homes.

2. Graphic design: Canva 

First impressions matter, and in real estate, visuals are everything. Whether you need to create engaging social media graphics, professional-looking flyers or impressive property brochures, Canva makes delivering eye-catching designs easy and accessible no matter your skill level. 

Forget about spending hundreds or thousands of dollars on an external designer — Canva puts design power directly into your hands. With thousands of customizable templates, you can create stunning visuals in minutes, even if you’re more of a numbers person than a design whiz.

3. Search engine optimization (SEO): Google Analytics

To ensure your real estate website ranks high on search engine results pages, you’ll need to optimize it for search engines. Google Analytics is a valuable tool for understanding how visitors interact with your site. It provides insights into which pages are most popular, how users discover your site and what keywords they use to get there.

By analyzing this data, you can fine-tune your SEO strategy to improve your online visibility and drive more organic traffic to your website. Focus on creating content that addresses the needs and interests of your target audience, incorporating relevant keywords naturally. This might include regularly updating your blog with market insights, property guides and community highlights to boost your search rankings. 

4. Email marketing: Flodesk

Email marketing remains one of the most effective ways to nurture leads and maintain relationships with clients. However, managing email lists and sending out campaigns manually can take time and effort. The good news is with a dedicated email marketing platform, it’s easier to track email performance and measure ROI.

Flodesk is an email marketing tool that makes it easy to design beautiful, responsive emails, helping you stay connected with your audience. With Mailchimp, you can automate your email campaigns, segment your audience for personalized messaging and track engagement metrics to see how your emails are performing. Whether you’re sending out monthly newsletters, new listings or market updates, Flodesk can help keep your audience informed and engaged.

5. Website builder: Squarespace or WordPress

A well-crafted website can be a powerful asset in attracting and converting clients. Without a website, you’re missing out on a significant opportunity to connect with clients and showcase your expertise. Thankfully, you don’t need to be a coding expert to create a professional online presence. Leading platforms like Squarespace and WordPress offer high levels of customization, allowing your website to grow alongside your business.

Keep in mind that while a DIY website can save you money, it’s important to prioritize the user experience above all else. If you lack the time and skills, consider hiring a professional web designer to create a site that truly represents your brand and effectively showcases your services.

In the fast-paced world of real estate, leveraging digital marketing tools is no longer optional — it’s essential.

By incorporating these tools into your strategy, you can enhance your marketing efforts, streamline your workflow and build stronger client relationships. This will not only save you time and money but also enable you to operate more efficiently and effectively, helping you stay ahead of the competition.

Welcome to your regular staging advice column designed exclusively for real estate professionals. Whether you’re grappling with how to enhance the visual appeal of your listings or seeking innovative strategies to captivate your target audience, you’ve come to the right place. This is your opportunity to pose any and all staging-related questions and receive expert advice, for free.

No query is too big or small — if it’s about elevating the look of your real estate, we want to hear it and we want to help! Email your questions to ninadoiron@isodesign.ca

Selling a home is one of the most significant financial transactions many people will ever undertake. In today’s competitive real estate market, where buyers often make judgments within seconds of stepping through the door — or even before, based on online photos or video — having your client’s property stand out is crucial. This is where professional home staging comes into play.

A skilled home stager can turn a property into a buyer’s dream, often leading to faster sales and higher offers. But with so many stagers out there, how do you choose the right one for your needs? Here’s what you should look for in a professional home stager.

1.  Experience and portfolio

One of the first things to consider when choosing a stager is their experience. How long have they been in the business? Do they have a track record of successfully staged homes that sold quickly and for a good price? Ask to see a portfolio of their work. A reputable stager will have before-and-after photos of previous projects, which can give you a sense of their style and ability to transform spaces.

For example, if you’re selling a modern condominium in the city, you’ll want to see how the stager has handled similar properties. Conversely, if you’re selling a large, traditional family home, the stager should have experience in making such spaces look inviting to a wide range of potential buyers.

The more varied their portfolio, the better equipped they’ll be to handle the unique challenges of your client’s property. Your stager should be a creative problem-solver, capable of transforming even the most challenging room layouts into functional, visually appealing spaces that attract potential buyers.

2. Training and accreditation

While staging is an art, it’s also a science that involves understanding buyer psychology, design principles and real estate market trends. A stager who has received formal training from a recognized organization, such as the Real Estate Staging Association (RESA), or has an accreditation like Accredited Staging Professional (ASP), has demonstrated a commitment to the craft. This background ensures that they’re equipped with the knowledge and techniques to effectively stage homes.

For instance, a well-trained stager will know how to highlight a home’s strengths while downplaying its weaknesses. They will use colour, lighting and furniture placement to create an atmosphere that appeals to the broadest range of potential buyers. Experienced stagers are constantly honing their craft, staying up-to-date with the latest design trends to ensure they deliver the modern, appealing aesthetics that today’s homebuyers crave.

3. Understanding of the local market

Every real estate market is different and what works in one area may not work in another. A good home stager should have a deep understanding of their local market and what buyers in that area are looking for. They should be familiar with the types of properties that are selling quickly and at top dollar and should know what appeals to buyers in your client’s specific neighbourhood. Since each local market has unique characteristics, stagers should maintain a diverse inventory that accentuates the distinct features of properties in those specific markets.

For example, if you’re selling a home in a family-oriented suburb, the stager should know how to create a warm, welcoming environment that appeals to young families. On the other hand, if the property is in a trendy urban area, the stager might focus on creating a chic, modern look that appeals to young professionals.

4. Customizable services

Every home is unique and so are the needs of every seller. A good home stager should offer a range of services that can be tailored to your client’s specific needs and budget. Whether you need a full staging service with furniture and decor brought in, or just a consultation to provide some DIY tips, the stager should be able to accommodate you.

For instance, if the home is already beautifully furnished, you might only need a staging consultation to help you declutter and rearrange existing furniture. On the other hand, if the home is vacant, you might need a full staging service where the stager brings in all of the necessary furniture and accessories to make the home look lived-in and inviting.

5. Attention to detail

Staging is all about the details. A good stager will pay attention to every aspect of the home, from the arrangement of furniture to the placement of accessories. They’ll think about how the home will look in photographs, how it will feel when buyers walk through the door and how to create a cohesive look throughout the entire property. An exceptional stager will go above and beyond to ensure every room is flawlessly presented and fully optimized to captivate potential buyers.

For example, a stager with a keen eye for detail will ensure that each room has a focal point, whether it’s a beautiful piece of artwork or a cozy seating area. They’ll also check that all of the little details, like flowers, crisp linens and strategically placed mirrors, are taken care of.

6. References and testimonials

Just like hiring any other professional, it’s essential to check the stager’s references and read testimonials from previous clients. A good stager will have a list of satisfied clients who are willing to share their experiences. Look for reviews that mention the stager’s ability to listen to the client’s needs, their professionalism and, most importantly, the results they achieved.

For example, if you read a testimonial that mentions how the stager helped sell a property within a week at above asking price, that’s a good sign they know what they’re doing.

7. Fully insured

Another crucial factor to consider when choosing a home stager is whether they have adequate insurance coverage. Professional liability insurance is essential as it protects both the stager and the homeowner in the event of any accidents, damages or unforeseen issues that might occur during the staging process. 

For example, if a piece of rented furniture damages some flooring, or if a team member accidentally breaks a valuable item, insurance protects you and your client from footing the bill. Working with an insured stager provides peace of mind, knowing that the stager is prepared to handle any mishaps that may arise. This level of professionalism not only protects the investment but also underscores the stager’s commitment to running a reputable and responsible business. Always ask for proof of insurance before hiring a stager to ensure that you, your client’s property and the stager are all adequately protected.

8. Clear pricing structure

It’s important that the stager has a clear and transparent pricing structure. You should know exactly what services you’re paying for and how much they cost.

Some stagers charge a flat fee, while others charge by the hour or based on the size of the property. Make sure you understand what’s included in the price and if there are any additional costs for things like furniture rental and renewal fees.

9. A comprehensive contract

When hiring a home stager, one of the most important aspects to consider is whether they provide a comprehensive contract that clearly outlines the responsibilities and expectations of all parties involved, including the homeowner, realtor and staging team. A detailed contract should specify the scope of work, timelines, costs and payment schedules, as well as the roles and responsibilities of each party involved. 

For example, the contract should state what the stager will provide in terms of furniture, accessories and design services and it should also clarify what the homeowner is responsible for, such as moving personal items or making certain repairs before staging begins.

Additionally, the contract should address important details such as what happens if the home doesn’t sell within the expected timeframe, how rental items are handled and any cancellation policies. This clarity helps prevent misunderstandings and ensures that all parties are on the same page throughout the staging process.

A well-drafted contract not only protects your interests but also demonstrates the stager’s professionalism and commitment to delivering quality service. Before signing, be sure to review the contract carefully, and don’t hesitate to ask questions if anything is unclear. This step is crucial in ensuring a smooth and successful staging experience.

Selecting the right home stager can make a significant difference in how quickly your client’s property sells and for how much. By looking for a stager with experience, training, a deep understanding of the local market and attention to detail, you’ll be setting yourself up for a successful sale. Don’t hesitate to ask for references, review their portfolio and ensure their services align with your needs and budget.

Got home staging questions for a future column? Submit them to ninadoiron@isodesign.ca

The Canadian real estate market is a dynamic one, often influenced by several economic factors. With the post-pandemic shift in the market, we’ve witnessed a lot of fluctuation in property prices. As prices have recently increased, this trend may cause potential first-time homebuyers to hesitate when purchasing their home. 

However, when it comes to pre-construction properties, now is actually one of the best opportunities to secure a deal. Let’s walk through some of the key reasons why pre-construction investments remain a smart choice, and how you can strategically help your clients navigate the current market.

Pre-construction pricing dynamics

Best suited for first-time homebuyers, the key fundamental aspect of pre-construction properties is the pricing mechanism. Unlike investing in resale, pre-construction properties are sold at today’s prices but completed and delivered roughly three to four years later. 

What does this mean for your buyers? The price they agree to now does not reflect the final market value at the time of completion. Real estate markets are cyclical, and as history shows, property values are set to appreciate over time. Plus, pre-construction offers a flexible down payment plan best suited for first-time homebuyers. 

Many aspiring buyers are hoping for a further price drop, but by the time their pre-construction property is built, the market is likely to have rebounded, resulting in a property value increase. Essentially, buyers lock in a lower price now for a property that will be worth a lot more in the future. This inherent appreciation potential makes pre-construction properties a lucrative investment.

Helping clients adopt a long-term perspective for real estate

These days, it’s crucial for both buyers and sellers to educate themselves on why the real estate market is all about long-term perspective. The idea is to build and preserve wealth over time. 

For buyers, this means getting used to market fluctuations and understanding that patience is key. The current dip in real estate presents an opportunity to enter the market at a slightly lower cost, instead of expecting prices to go down further and that values will rise by the time their property is ready. Have these important conversations with your clients.

Taking advantage of a buyer’s market

In today’s buyer’s market, agents and brokers have a unique opportunity to guide their clients through uncertainty and position them for long-term success. Here are key strategies that can help professionals in the field increase client confidence and close deals effectively:

1. Strengthen negotiation leverage. As an agent,  the ability to negotiate effectively becomes even more critical in a buyer’s market. Educate buyers and investors on the leverage they have, not just in price but in securing favourable terms like extended deposit schedules, builder incentives or upgrade packages. Emphasize the value of these perks, and use them to craft deals that align with buyers’ long-term objectives.

2. Highlight the importance of capital utilization. In a market where things are changing by the minute and liquidity is king, it’s important to convey to your clients the advantages of putting cash reserves to work in real estate over letting them sit idle in bank accounts.

Highlighting how pre-construction properties offer a unique opportunity for growth where they appreciate over time, it’s important to note that property values are expected to rise over the next few years. Investing now means buyers are set to benefit from future appreciation. The property they invest in today at the current price could be worth significantly more by the time it’s completed, providing substantial returns on their investment. Money in low-interest savings accounts can be worth much less in the future, whereas investing in pre-construction can yield better returns.

3. Role of population growth in demand. With the growth in population around urban centres and the increasing opportunities and improved lifestyle benefits that come with it, the demand for housing is only going to increase.

Population growth means more demand for new homes, pushing property values upwards. While we already witness many developers working towards providing more housing options, the short-term price dip is only here for a while before demand increases again. New construction is finite in desirable areas, but this means it will inevitably lead to higher property prices.

Improving economic conditions also results in a return to consumer confidence and, with that, the demand for real estate is also set to increase. This cyclical recovery will bolster property values.

Seizing the moment

In a buyer’s market, the role of an agent or broker extends beyond merely facilitating transactions. It’s about empowering buyers with the knowledge, strategies and confidence they need to make sound investment decisions.

Real estate is a journey, not a sprint. By thinking long-term and making informed decisions today, your clients can set themselves up for substantial financial gains in the future.

I recently had the opportunity to sit down with Trevor Koot, the mind behind the Business is Fcking Hard podcast, to delve into the insights and experiences that shaped his journey. In our candid Q&A session, Koot shared the inspiration, challenges and personal stories that have driven the creation of his impactful podcast.

This conversation has excellent value for real estate agents and broker-owners, as we’re all entrepreneurs. And it’s hard.

The inspiration

When asked about the inspiration behind the Business is Fcking Hard podcast, Koot emphasizes the need for vulnerability among business owners. He recalls a pivotal moment in 2008 when, during a speech at the Provincial Chamber of Commerce in Saskatchewan (he had been nominated for an entrepreneurship award), he candidly declared, “Business is f*cking hard,” which was met with resounding applause.

This reaction underscored the shared struggles of entrepreneurs and the necessity for open conversations about the realities of running a business. His TED Talk further fueled the podcast idea, aiming to connect with business owners who often feel isolated in their challenges.

Relevance to realtors

The insights and experiences shared on the Business is Fcking Hard podcast are particularly relevant to real estate agents. Like other entrepreneurs, agents face the daily challenges of managing their own businesses — from financial stability and staffing decisions to maintaining morale and navigating the ever-changing market.

The podcast’s emphasis on vulnerability, shared struggles and practical lessons can provide valuable guidance and reassurance to real estate agents as they navigate the ups and downs of entrepreneurship.

A defining experience

Koot recounts a particularly tough day in his entrepreneurial journey when he had to lay off seven employees to save his company. This experience of grappling with unsustainable growth fueled by the belief that Silicon Valley popularized — “growth for growth’s sake” equals success — deeply impacted him.

Koot’s raw, honest and actionable blog posts have also chronicled the struggles of navigating the unpredictable waters of entrepreneurship, from facing financial instability to managing staff expectations and morale. Before the podcast, Koot wrote articles sharing these stories, setting the stage for the more expansive and personal format of podcasting.

Debunking misconceptions

Koot’s podcast delves into the difficult aspects of entrepreneurship, confronting common misconceptions.

Many people mistakenly believe that the entrepreneurial journey is easier for others while their own struggles are unique. By sharing raw and real stories, Koot aims to dispel this myth and foster a sense of solidarity among business owners.

A surprising theme underpinning success: Purpose before profits

One of the most impactful — and unexpected — themes Koot has identified after interviewing entrepreneurs is “purpose before profits.” This notion suggests that true entrepreneurs are driven by a deeper mission beyond mere financial gain.

For instance, Koot interviewed a health supplement company owner who prioritizes creating a healthier community over simply boosting sales figures. This purpose has worked to motivate him over all sorts of struggles. Another interviewee, a woman who founded a workwear company, started her business with the goal of making women feel comfortable and confident in their appearance and clothing — far beyond just turning a profit. Yet, she makes one. 

Research supports this concept of purpose-driven entrepreneurship. Studies have shown that businesses with a strong sense of purpose tend to outperform those solely focused on profits. For example, a study published in the Harvard Business Review found that companies with a clearly articulated purpose were more likely to achieve consistent revenue growth. Additionally, Deloitte’s Global Human Capital Trends report highlighted that purpose-driven companies often have stronger employee engagement, which in turn drives better business outcomes.

Koot’s exploration of this theme on his podcast serves as a powerful reminder to all entrepreneurs, including real estate agents, that a clear purpose can lead to more meaningful and sustainable success. By focusing on the broader impact of their work, real estate professionals can create lasting relationships with clients and contribute to the communities they serve.

The podcast’s influence on Koot

Hosting the podcast has profoundly influenced Koot’s approach to business and entrepreneurship.

Initially intended as a side project, the podcast has inspired Koot and motivated him to share what he’s learning more broadly. Despite selling his last companies in 2021 and becoming CEO of the British Columbia Real Estate Association in 2022, Koot remains connected to the entrepreneurial spirit.

Advice for aspiring entrepreneurs

Avoid the superficial success lure. When offering advice to aspiring entrepreneurs, Koot stresses the importance of avoiding the lure of superficial success. The entrepreneurial journey is often glamourized, especially in industries like real estate where success can sometimes appear effortless from the outside. However, true success requires dedication, hard work and a deep commitment to the craft of business. 

For real estate agents, this advice is particularly relevant as we’re bombarded with Million Dollar Listing and endless Instagram photos of real estate agents driving fancy cars or drinking expensive champagne. The allure of quick commissions and the perception of flexibility can overshadow the reality of what it takes to build a successful real estate business.

Koot advises agents to approach their work with the mindset of a business owner rather than just a salesperson. This means investing time in understanding the market, developing a solid business plan and continuously refining their skills.

Improve financial literacy. Moreover, Koot emphasizes the importance of financial literacy: “Financial literacy is crucial for real estate agents to thrive in their careers and maintain long-term success. Many agents overlook the importance of understanding their cash flow, tracking expenses and setting aside money for taxes and other obligations,” he notes.

Koot’s own admitted oversight on understanding his company’s cash flow is what led him to a variety of financial stresses. His podcast guests attribute part of their success to mastering financial basics, and he encourages agents to take note so they too can avoid common pitfalls like overspending during high-income periods or being caught off guard by tax bills.

The real estate market is constantly evolving, and agents must be prepared to navigate changes, whether they be economic downturns, shifts in consumer behavior or technological advancements.

By sharing raw stories of struggle and triumph, practical advice and insights on purpose-driven success, Koot offers a virtual support system for agents navigating the complexities of running their own businesses. In an industry where challenges can feel isolating, this podcast reminds you that you’re not alone.