The real estate market in Canada is a rapidly changing industry, with new technologies and software transforming how the market works. However, it is important to remember that behind this ground-breaking progress lies human intellect. These are the people who use their intellect and ambition to drive the progress of the market forward. The Financial Post recently identified five individuals in the Canadian real estate market who have greatly added to progress in the industry.

Ken Leblanc: Ken Leblanc was one of the earliest adopters of using the web to make real estate accessible to the masses. He founded the venerable PropertyGuys.com while he was studying at Crandall University in New Brunswick in 1998. Leblanc’s goal was to allow people to buy and sell property privately through the web. What started as a simple $100 venture has turned into a multi-million dollar organization. As the largest private-sale real estate network in Canada, PropertyGuys owns more than a 100 franchises across the country and gets almost 400,000 visitors to their website per month.

Although the PropertyGuys model is heavily reliant on technology, Leblanc has not forgotten to add a human touch to the process. Transactions aren’t solely done on the web, but rather involve PropertyGuys’ employees working together with prospective buyers and sellers. Leblanc states that a personal and emotional connection is required for the home buying process to be completely satisfactory and his motivation to combine technology and human connection makes him potentially one of the most innovative figures in Canadian real estate today

Bob Dhillon: Bob Dhillon’s rise to prominence is an intriguing “rags-to-riches” story. The founder and CEO of Mainstreet Equity Corp didn’t start at the top; a refugee from Liberia, Dhillon started flipping houses at 19 to pay for university. In the 1980s, Dhillon became well-acquainted with the real estate market, and by 1998 was buying apartment buildings full-time. Mainstreet has been incredibly successful over the past decade: its returns have been 910% in that period, and the company has seen double digit growth for 10 consecutive quarters. Dhillon attributes his success to buying mid-tier, low-rise buildings in Western Canadian cities.

Mainstreet’s stats are impressive: 97% of their properties are in Western Canada, where they manage 8500 units valued at over $1 billion. They also have some properties here in Toronto, which will likely expand soon. Dhillon states that his next target is the USA, as the real estate crash of 2008 left cities with low interest rates and low supply. Based on Dhillon’s previous successes, it is only a matter of time before Mainstreet spreads to the East Coast and stateside.

Greg Romundt: Greg Romundt had a slightly unorthodox training for real estate: as a derivatives trader, he wasn’t the most obvious candidate to be a multi-residential property owner, but that’s exactly what he achieved by starting up Century Apartment REIT. Romundt draws comparisons between his past and his present, and believes that running a treasury at a bank allowed him to transfer those skills into a REIT. Romundt, who gathered his vast experience as a derivatives trader at Citibank, spent 12 years in the field before retiring to get into real estate. This he did by supplying his own capital, a feat in and of itself.

Romundt’s REIT is also a little different than most others in the market: it’s private and only open to accredited investors with enough money and experience to make them seasoned market players. Romundt’s recipe for success is to stay in the apartment game, due to its steadiness even in times of economic recession.

Rob Goodall: Rob Goodall, founder and CEO of Atrium Mortgage Investment Corp., started up the company in 2001. His objective was to lend money to real estate developers, and it is something he has experienced massive success in. Since its inception, Atrium has lent out a total of $600 million in loans with only $133,000 in losses, which is statistically almost nothing. Atrium was able to get such amazing statistics because Goodall makes sure he knows who he is lending to. Goodall’s methods have also ensured that Atrium can manage and adjust even during times of rising interest rates.

Michael Emory: Michael Emory, like Greg Romundt, had a unique beginning before moving into real estate. A lawyer by trade in the 1980s, he decided to move to real estate for a change of pace. Soon after, Emory founded Allied Properties REIT, and started to acquire storefront properties in good locations at major Toronto intersections. Emory has seen great success in his venture, and his company continues to thrive after going public in 2003

Source: Financial Post

Source Link: https://business.financialpost.com/2013/09/05/canada-real-estate-industry-leaders/