Real Talk | The Real Estate Podcast
Real Talk | The Real Estate Podcast
Adam Miao on Mastering Real Estate
Could a passion for architecture and a displeasure for the 9-to-5 grind lead to a flourishing real estate career? Join us on the Real Talk Real Estate Podcast as we chat with Adam Miao, a TFN Realty agent and sales manager, who reveals how his journey from York University to TFN Realty involved seven brokerage interviews and a strategic switch from resales to pre-construction. Adam's candid tales of early career hurdles, his eventual mastery of selling inventory homes, and his relentless dedication provide invaluable insights for anyone considering a career in real estate.
In another fascinating segment, we delve into the numerous advantages of buying new construction homes, especially for first-time buyers, from builder-backed warranties to the joy of pristine, untouched living spaces. This episode blends personal anecdotes with professional tips, making it a must-listen for real estate connoisseurs.
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Hey everybody, this is Diana Victoria Quinn from TFN Realty and you're listening to the Real Talk Real Estate Podcast, the uncensored show that keeps it real for people who love real estate. We'll have some of the best interviews with some of our industry's most exciting people right now on a variety of different topics. We promise not to bore you. We have Adam Miao here with us, TFN agent. He is also our sales manager as well for TFN. Welcome.
Speaker 2:Thank you Back again.
Speaker 1:This is the second time you've been with us.
Speaker 2:That's correct. Yeah, second time. Great, I have a new couch now.
Speaker 1:You have a new couch and you have a new title.
Speaker 2:I do as recently.
Speaker 1:Congrats again on that too.
Speaker 2:Absolutely.
Speaker 1:So I want to go back to and I can't remember if we talked about it, if we went back that far, but why you got into real estate in the first place.
Speaker 2:Why I got into real estate If you speak French if I speak French. It was my second year of university at York and I still hadn't decided what I wanted to do, but the one thing I knew for sure was that I didn't want to sit in an office every single day, 9 to 5, and then go home, because that was essentially my life at York, because it was a commuter school. I never lived in res, I just went to class, went, went home, went to class went home.
Speaker 2:And it was just so boring and mundane. And then I realized I was looking and trying to decide what kind of career would be more front-facing, deal with people every day and have the flexibility to be in certain places, not have the same thing every single day. So real estate was a point of interest for me. I always had this interest in architecture and flipping homes. I'd like to say I'm rather handy myself, but I felt like real estate was a good avenue to pursue, to explore more of those two things.
Speaker 1:What did you study?
Speaker 2:I studied business and society at York.
Speaker 1:Okay, so that helps you in your career. It did.
Speaker 2:Yeah, absolutely For sure it still does.
Speaker 1:And so you got your real estate license, went through that process. What happened next?
Speaker 2:So I got my real estate license right after I graduated York, since third and fourth year, right after I knew I'm going to pursue real estate. So I got my license. I interviewed at seven different brokerages. Some people may not know this, but you're technically interviewing the brokerage to work for them because essentially, some brokerages are structured that you pay to work under their umbrella or their branch. I interviewed seven different brokerages and TFN being one of them. It stood out the most and I decided to choose TFN because the pre-construction aspect of it and this has been my first brokerage up until this date Wow, I don't plan on leaving until I get fired.
Speaker 1:I don't think that's happening.
Speaker 2:Okay.
Speaker 1:But did you enter, like you started, directly into pre-con, or did you dabble in resale at the beginning?
Speaker 2:No, so I dabbled in. I did resale first. So, as any realtor would know, you're doing leases, you're doing cold calls, you're doing door knocking, you're doing leases. It's not the most glamorous thing but you learn a lot through leases. You do a lot more work for a lease than you do for a sale. I'd say the amount of showings, especially if it's down in toronto. You're running up and down condos, um, going into basements, looking for lock boxes, going up down parking your car, walking over and paperwork and paperwork yeah, the vetting, the credit app, uh, the credit reports, the tenant applications. That's a lot of paperwork to learn. But when I first spoke with the TFN manager at the time, I in my interview I asked what it's, what the process would be like to join pre-construction and at the time the pre-construction teams were full. But they had kept me in mind because of the interest that I expressed and they started giving me opportunities as a day agent at certain sites. I believe my first site I day agent-ed at was Phoenix by Embarker Mes in Etobicoke.
Speaker 2:I was always the one that would just volunteer to go on my weekends just to go learn things. I did everything, from standing at the front door with a checklist, to serving coffees, to eventually helping sign deals, photocopy checks, so a lot of basic but necessary work. You should pretty much start doing the grunt work first and you learn every aspect of being a pre-construction agent. But that's yeah. So started from resale. I still do resale on the side, here and there for friends and family. I don't per se pay for leads or anything and actively go chase down resale, as pre-construction does take up a lot of my time, but it has been very rewarding. So I focus my efforts in pre-construction mostly.
Speaker 1:How were you generating the lease leads when you first started? Do you remember?
Speaker 2:Those were all still friends and family, and then word of mouth. At that age, after I graduated, a lot of my friends were moving out and they started looking for places and they realized, oh, you got a license, I'll just call Adam. But yeah, it was all just friends, family and word of mouth from those leads.
Speaker 1:Okay, and then from day agent, did you get a permanent role at a site?
Speaker 2:So I started day agenting and then eventually I was tasked with selling the inventory homes at the Raiden Census Project by Empire Communities in Oakville. There was about eight units left, so that was pretty much my dry run of becoming a pre-con agent. I successfully managed to sell out the rest of that building it was not an easy task.
Speaker 1:Which?
Speaker 2:was not. It's a lot of learning curves, but I do have my managers and my mentors at that time to thank for that. But eventually I was chosen to be a part of the Queens Key project, also again by Empire Communities, and that's what started my career. That was my first site as a pre-construction agent and I actually bought a unit there myself because I liked the project so much, wow.
Speaker 1:You really had the best start into this industry. You know, really working your way up, getting that experience like you said, day agent, which is not a glamorous role at the very beginning, but you learned all the intricacies of that job. And then selling inventory also isn't an easy task. So if you can sell inventory, you can sell anything, because I also can appreciate how difficult that is. It's a lot of proactive selling rather than, you know, being in the sales office and converting leads that are coming in. So, yeah, kudos to you. Great job, leads that are coming in.
Speaker 2:So, yeah, kudos to you, great job. Yeah, it was a great transition because inventory homes is a unique type of product. It's kind of hybrid where it's pre-construction it's never been lived in on that aspect but it's also resale backed type of marketing.
Speaker 1:Were they complete at that time? They were complete, were there still opportunities for purchasers to change.
Speaker 2:No, so these ones were already completed, but people still got their pre-delivery inspections and their Tarion warranties eligible for that, so it was a very seamless transition from resale into pre-construction.
Speaker 1:Yeah, I agree, also because you're really specializing and focusing in on the sort of tail end of the pre-con process, like you said, the PDI which, as new home agents, were not necessarily involved in that part of the process. When you're selling pre-con, um great, and then where are you now?
Speaker 2:Where am I now? So ever since Key House I had gone to Maverick, I did Lush. I've been all over Ontario, essentially downtown Toronto all the way to Niagara, to Caledonia, brantford, either just in a support role or again selling some inventory homes or some pre-construction. But as of recently I've been honored to be designated as a sales manager for TF and Realty, overseeing our site agents and overseeing day-to-day processes, helping with staffing, pricing and all such things.
Speaker 1:Very natural transition.
Speaker 2:Yeah.
Speaker 1:Good, how are you liking it?
Speaker 2:I'm really enjoying it. I'm learning a lot uh, being able to sit into the meetings with our client builders, uh, from everything from marketing to pricing um to preparing uh market analysis uh, and seeing the behind the scenes of the decisions that are made, uh that the sales reps would have to execute on the sales floor. It's pretty much like seeing how the sausage is made, yeah Right.
Speaker 1:You have a different appreciation for the job.
Speaker 2:Yeah, like how it's made and the whole process. Yeah, but it's become a product, so it's been a rewarding's been a rewarding experience. Yeah.
Speaker 1:And hopefully there's more challenges to come, because that that's what really pushes us to grow and pushes us further. So I think you're you're on a great path. I remember my transition from sales rep into sales manager and you know seeing the behind the scenes and understanding really what's involved in making, you know, small changes and like a change in a deposit structure. As a sales rep, you know you get this sort of direction from management that the like.
Speaker 1:Just using an example, the deposit structure has changed, but not understanding the amount of research that went into that incentive or that change right. So yeah, it's really. It's a period of growth.
Speaker 2:Yeah, great growth. Yeah, as a site agent, there's just these changes that come down the line and you just you're tasked to to work with what you got, but learning all the reasoning behind it, the, the research, the methodology, it's, it's. It's really interesting to to see where that decision has come from. It's not just like on a whim, but there's like a whole department that helped make that decision of something that might be seemingly so small but has a large impact.
Speaker 1:And outside from work. What do you do?
Speaker 2:What do I do?
Speaker 1:What do you like to do?
Speaker 2:I really enjoy cars. Again, I'm really handy. I'd like to do you like to do? I really enjoy cars Again, I'm really handy. I'd like to say, like to think. But as of right now, the thing that's taking up the most time is I'm preparing just planning for my wedding next year.
Speaker 1:That's exciting it is yeah. So what's left to plan?
Speaker 2:I think all that's left is I gotta find a jacket wow, yeah, that's it that's it, just the jacket, not the pants. So you have the pants yeah, so I'm doing black pants okay white jacket, so the white jacket.
Speaker 1:Yeah, what I need to get, you didn't find. You recently came back from italy I did you check there?
Speaker 2:yes, a lot of great options there, uh, but uh, it's too soon to get it now because it's going to be august of next year, which is you may gain weight over the winter or lose. Or lose weight, but most likely gain. Um, but yeah, that's, I'm gonna do it, maybe a few months before that. And what kind of shoes? Just some nice glossy black dress shoes. I already have those, but yeah, not much else going on.
Speaker 1:And venue. Venue's booked, photographer's booked the Entertainer's booked decorators booked, everything's done and what are your plans after the wedding?
Speaker 2:so, as I mentioned, I had bought a unit at key house so that the closing of that is looking like. Looks like it's going to overlap a little bit, or maybe just a month or two before the wedding. So with the wedding I think we're gonna be focusing on moving in perhaps our honeymoon Destination for a honeymoon.
Speaker 1:Have you picked that?
Speaker 2:We're thinking Japan.
Speaker 1:Wow.
Speaker 2:Yeah, japan has always held the special places for us. We've both been very fortunate enough to have visited Japan several times, so we're thinking Japan and Thailand.
Speaker 1:Very cool.
Speaker 2:Yeah.
Speaker 1:So both on the same trip.
Speaker 2:Yes.
Speaker 1:Any plans, like anything that you really want to do there or see that you haven't seen or done?
Speaker 2:Well, my fiance and I, we really enjoy camping done. Um well, my fiance and I, we really enjoy camping. So we found this one company in japan that will let you rent out a um, fully equipped, let's say, land rover or a suzuki jimmy, uh, it'll come with a rooftop tent, a full kitchen inside, uh, all you that. You just, they give you the keys and you just go camping in japan glamping is that what they call?
Speaker 1:yeah, glamming or glamping, glamping.
Speaker 2:Yeah, that's cool that's something we're looking forward to.
Speaker 1:That's something we haven't done abroad before so will you stay at a hotel for a couple of nights? Are you going to go directly into something like?
Speaker 2:we'll definitely do a hotel, uh, the camping part maybe, just like for nights, just to have the experience.
Speaker 1:Oh, you're not going to rough it out?
Speaker 2:No, we're not going to rough it out, but we're going to explore more. We've done a lot of the sightseeing in the past already, so we're going there for food.
Speaker 1:You're in a great stage in your life, yeah, like promotion, getting married, new place that you're moving into yeah, congrats, it's really nice to see. Yeah maybe family at some point yeah, that's definitely.
Speaker 2:That's definitely in uh in our plan. So, but plans change, but that's currently that's how we're aligned, right now okay, long-term goals plans wishes. Long-term goals plans wishes.
Speaker 1:Personally or professionally. Both like maybe five to 10-year plan.
Speaker 2:Five to 10-year plan. Five to 10-year plan. Professionally, I'd love to be sitting on that side of the couch Awesome. Still learning every day from my colleagues, the people above me, the people below me. Not to say that we're not equal. We're all on the same team. We all have the same goal. The personally, I'd hope to be out of my condo by then, because it's a studio, so we'll see how long we survive.
Speaker 1:Especially if a baby comes. Especially if a baby comes, you'll want to get out of there.
Speaker 2:Yeah, yeah. So I'm going to need a raise and some time off for my honeymoon, but no, a lot of aspirations.
Speaker 1:But yeah, so you've thought about it, you've pictured it.
Speaker 2:Yes, yes, I I. My sign is cancer, but my colleague in that had told me that I am. Which one? Was it Virgo or Libra? That's like super organized. I think it was Virgo.
Speaker 1:Definitely not my sign.
Speaker 2:Well, I'm a planner, yeah, but I can see the cancer in you.
Speaker 1:My two children are cancers, okay. We're very emotional people yeah very emotional people, very sensitive, like old souls.
Speaker 2:Oh yeah, Very traditional souls.
Speaker 1:Conservative. Like it was funny watching my kids when they were small. You know most kids they start to walk and they just start taking steps. Yeah, they were so careful Like every move they would make my eldest mostly was planned right, like if he wanted to get from here to there he would think about it?
Speaker 2:How do I do it?
Speaker 1:first, without falling. My other one, who's also a cancer, would just beeline for it and just see what happens. But they're both very sensitive people. You guys are good people, but I have to look into. Do you know what the organized zodiac is?
Speaker 2:I think it was Virgo.
Speaker 1:Could be.
Speaker 2:Possibly, I'm a pisces we get along well we do yeah, yeah, we're. I'm like I'm a crazy I'm a crazy sign.
Speaker 1:Like we're dreamers, we're in our own world which I am grounded.
Speaker 2:Yeah, yeah, you guys do keep me grounded.
Speaker 1:My kids. They're like far more mature than I am, like we're out in Miami, we're walking on the street, their bedtime is around 9, 9.30. And this was last year, last spring, and my it was 8.45, and my eldest is like mommy, I think it's time that we head back to the hotel. It's 8.45 and you know bedtime.
Speaker 2:Bedtime is, I'm like are you kidding me?
Speaker 1:We're in South Beach in Miami. We are not going to bed until like 10, 11, 12. So, but in my mind I'm a dreamer right Like. This is fantastic. I get to expose them to all of these colors and beautiful people and smells, and music, and no there's a structure and a schedule.
Speaker 2:Yeah, rules are in place.
Speaker 1:And I'm like forget the rules. Without structure, there's chaos, yeah, and they like are, so I'm sure you are so uncomfortable with chaos.
Speaker 2:Oh yeah, yeah, it's in my human nature to have control, or at least knowledge of what's to come. It's a good and a bad thing yeah it's. It's not great for one's mental health.
Speaker 1:Yeah, and taking chances, because life is about taking chances it is I've.
Speaker 2:my fiance has taught me to take more chances and be more liberal with my thoughts and ideas.
Speaker 1:But it's hard.
Speaker 2:Oh yeah, it's trying to change the world. It's a challenge because it's scary, it is.
Speaker 1:My son wrote to me on Snapchat the other morning. My little one didn't want to eat anything for breakfast and his father was getting very upset because he was offering him this cereal Eggos. He didn't want any of it and a fight started happening between father and son and my eldest was uncomfortable. So he wrote to me. He's like Mommy, can you please sit down with Jordan and have a discussion about eating habits in the morning, because I don't appreciate waking up and starting my day with screaming and yelling's not good for my you're 12, like who cares?
Speaker 1:and so I'm like you're right, I completely understand. First thing that we're going to do when we come home is have a family meeting. So I come home on my guys family meeting, john's like jordan family meeting. We all have to sit down and discuss this. This is adam.
Speaker 1:I don't appreciate this because I love that oh it was very sweet your kids, I don't I didn't care if, and I actually was the child when my brother got yelled at, I was happy about it. I'm like, yes, he's the awful child. Oh yeah, and this is the good child he deserved it.
Speaker 2:I didn't complain about it.
Speaker 1:I loved it, I would sit there. I'm like uh-huh Told you.
Speaker 2:Yeah, yeah, you have siblings. Yeah, I'm the youngest of three boys. Wow I was supposed to be a girl, your parents were very disappointed then. Yeah, but it's okay.
Speaker 1:So you came out a boy and they ignored you.
Speaker 2:Came out a boy there, my parents were like that's it no more.
Speaker 1:So they didn't want to try again for a fourth.
Speaker 2:No, absolutely not. Three boys. Three boys, three sons.
Speaker 1:Your mother is a saint, my mother is a very patient woman Do you all get along.
Speaker 2:I couldn't be more different from my brothers, but we all get along, mm-hmm. Yeah.
Speaker 1:What sign are they?
Speaker 2:Honestly don't know. One's born in July, one's born in September.
Speaker 1:Are they like you? No, they're different.
Speaker 2:They're different Creative Creative outgoing Well, yes, and different Creative.
Speaker 1:Creative.
Speaker 2:Outgoing Outgoing. Well, yes and no, we all have very different traits. We have very different interests, like I really like taking things apart. I like changing my own tires for the winter seasonally, do you want?
Speaker 1:to do mine.
Speaker 2:Yeah, okay, perfect, I'll bring my jack in fall time. Tires for the winter, seasonally, do you want to do mine? Yeah, okay, perfect, I'll bring my jack in fall time. But yeah, they would never even fathom the thought of getting under a car or what have you.
Speaker 1:Was it like a typical house with boys?
Speaker 2:Oh yeah, a lot of fighting, a lot of arguments, boys. Oh yeah, a lot of fighting, a lot of arguments. But I think, I'd like to think, that we've matured a bit more.
Speaker 1:Are they?
Speaker 2:married. No, I'm the first one.
Speaker 1:Wow.
Speaker 2:I'm going to be the first one.
Speaker 1:Yeah, the youngest one always overachieving, because you're the one and you want structure.
Speaker 2:Yes.
Speaker 1:And routine.
Speaker 2:Yes, I had planned this by by this age. I will do this, so yeah that's good kudos to you.
Speaker 1:Are they dating anyone?
Speaker 2:I believe.
Speaker 1:Yes, yes, they're both babies, and yeah your mom's gonna start putting pressure on them. Oh yeah, once you're married yes he's married well, no, my mom's.
Speaker 2:She just wants everyone to be happy. So both my, parents, she just wants everyone to be happy. So both my parents, they just want everyone to be happy and healthy. So there's no structure per se for them, or that's just?
Speaker 1:That's very good parent. That's me putting on myself yeah.
Speaker 1:I'm not that type of parent. I don't want them like. Of course I want them to be happy. I don't want them like I. Of course I want them to be happy. I don't want them to be too happy, but I want them to be. I'm not happy. I was telling my son the other day life is not about fun and games. Life is not about laughing and playing hockey and having a great time. Okay, life is about sacrifice. Laugh is about doing things that you don't want to do. They're looking at me and they're like we just want to play outside basketball. How old are they? 11 and 13, almost 13.
Speaker 1:Leave them alone but like all they care about is playing hockey. Oh, you have to clean the house, like there's just yeah.
Speaker 2:Okay, I see, I see where you're going, yeah.
Speaker 1:And my ex is like let them be kids. There's, you've been kids up to 10.
Speaker 2:Yeah, and now it's over. There's time, there's there's certain things to start learning about responsibility here, right?
Speaker 1:So before you guys have kids, if you want to use mine, yes, as like a test, okay, just to like feel it out. See what it's like to have like preteens.
Speaker 2:Yeah, yeah, okay, it might just change my ideas and ruin my whole structure of 180.
Speaker 1:The preteen, the preteen is a different stage than babies.
Speaker 2:Yeah.
Speaker 1:They're like checking every hair that's growing on their face. My son said his armpit hair is going to grow in in the next six months. For sure. I'm not sure how he knows that.
Speaker 2:He can feel it yeah.
Speaker 1:He's like so-and-so's armpit hair is coming, Mine's coming in too in like the next six months, Like great he has structure too.
Speaker 2:He knows, by this time I'll be peak puberty.
Speaker 1:Yes, then my voice will start to crack, then I will find a girlfriend.
Speaker 2:Braces this age. Acne break out this age.
Speaker 1:So, going back to work, aside from sales manager, you're also focused now on selling, back to selling inventory.
Speaker 2:I'm back to my roots.
Speaker 1:We're calling it Postcon.
Speaker 2:Yes, how's that going?
Speaker 1:And if you can tell us a little bit about Postcon.
Speaker 2:Right. So I've been appointed alongside with a good friend and colleague of mine, naveen Chopra, esteemed broker. He and I are looking after TFN's new Postgon division. As some of you may not know that, tfn is a boutique brokerage but we specialize in all aspects of real estate, whether it be commercial, residential or pre-construction, and a lot of our clients are builders.
Speaker 2:So when a builder has leftover inventory or a unit comes back for whatever reason and the building or community is complete and that is essentially deemed an inventory sale, now what our job is to do is to pretty much accumulate all those homes and again we're doing it as a hybrid system where it's technically resale but we're selling very new products. So it's half and half. But that program has recently launched I'd say it's been almost two months now Very successful with the business model that we have. We've had tremendous support TFN, everything from marketing to reach out and just administrative as well from the administrators out front. I believe it's going to be a very successful new branch of TFN and I'm very excited to see where it goes.
Speaker 1:And I think it's sex successful program for buyers too, because they can buy brand new, never lived in. They still get the warranty, but with a quick closing like yeah.
Speaker 2:So as a as a first time buyer, you're not competing with multiple offers, you're not competing with blind offers, essentially a builder's price. Blind offers, essentially a builder's price, is a builder's price. You can't just.
Speaker 2:There is really no bidding on a inventory home in a traditional sense, as you would in resale and also with tfn and the builders that we represent, we have our administrators that have been crucial to helping us getting these deals through. So if you're an agent and you've never done any type of new homes or pre-construction, essentially all that we ask is you bring us your buyer and our administrators and our team, we put together the paperwork, the deal, and just have your clients sign with the help of that agent, in unison of helping us advertise the product, explain the communities and, because these are inventory homes, they would be taking them through the homes. If they need, we can be present as well to help explain some of the features without overstepping. But yeah, it's a great way, as if you were a third party or a buyer's agent, to dip your toes into a new home in pre-construction.
Speaker 1:And even for brand new agents, because it's that hybrid of a pre-con and a resale you get a taste of both.
Speaker 2:Absolutely yeah.
Speaker 1:Yeah, I also wanted to mention something about oh, I lost my train of thought, I'll come back. That's what happens when you get old flies away.
Speaker 2:Everything hurts.
Speaker 1:Everything hurts.
Speaker 2:Everything hurts.
Speaker 1:We were talking about it in one of our meetings yesterday. Um, somebody had brought up that they had recently gone to the doctor and the doctor had he did a scan and the doctor said that they had found a little bit of arthritis. And then I chirped in and said recently I had gone to a clothing store to try on something and the woman said you know, for us mature women, you know these are the styles and I'm like who's? I'm not mature.
Speaker 2:Don't use the same word.
Speaker 1:I'm still in my 20s, so I have no idea what you're talking about, but I'm a mature woman and this is what happens your thoughts leave and then they come right back.
Speaker 2:Ages, but a number.
Speaker 1:Oh, I remember. Now it came back Buying brand new.
Speaker 2:Okay.
Speaker 1:So I for most of my life I've bought resale but old because I was born and raised in central Etobicoke, so the homes were. Some of them were over 100 years old, you know, 60 to 80 years, and I recently bought my first brand new home. There's something so beautiful about it, congratulations. Like brand new, like never lived in. Like the smell is like a brand new car. Oh, yeah. You know, nobody sat on the toilets before Nobody's used the shower. It is magical.
Speaker 2:So for anybody looking to buy a home on the resale market, look at new first absolutely because there's nothing like it yeah, if you're considering purchasing a home whether it be your first property or several in the future if you're already a an experienced homeowner, always consider it the possibility of pre-construction or new builds, inventory homes. You do get a brand new product. You have a builder backed warranty of up to seven years it's previously known as the Tarion Warranty. So the first year covers workmanship defects. So let's say, like a light switch was installed, crooked, it would be addressed. Up to two years is material defects. So if a builder installs something that ultimately fails, but, it's at no fault of the builder.
Speaker 2:It's just simply a faulty product. That would be addressed. And up to seven years you have major structural defects, like if the roof falls off right. So you have that peace of mind and you're protected by this program.
Speaker 1:Yeah, and I think, especially now, not just for first-time buyers or young buyers, but knowing, like you said, that you have this warranty, because when you buy a home, naturally things happen, things break down, things don't work, but we don't. You know, as a first-time buyer, you're not going into this purchase with a huge budget and a lot of savings, most likely. So knowing that you have all of this covered and also buying from a reputable builder that has a professional team I always say that homes are built with human hands, so you will always find deficiency.
Speaker 1:It's just what reality of the situation. But when you buy from a reputable builder, they will have a dedicated team that will come in and ensure that all of those deficiencies and items listed on that PDI are taken care of in a timely manner, and I know Empire is one of those great builders that has that dedicated team.
Speaker 2:So yeah, yeah, empire being one of our longest clients, they know home is perfect, but as with any builder, especially Empire, they make sure that it's near perfect. As with any builder, especially Empire, they make sure that it's near perfect and if it's not, they will send their team in and address it and make sure it's up to the purchaser standards and our own standards as well.
Speaker 1:And another small item, but for me it was very important. When you move into a brand new home, it's clean, it's clean, it is clean, it's professionally clean. You can take your boxes.
Speaker 2:It's not just DIY, cleaned, yes, but yeah, you get the peace of mind, you get brand new everything. You don't have to bid against anyone and a lot of builders are working with A lenders and B lenders but mostly A lenders to make sure that you get the type of financing that you would require for this purchase, so that you have that peace of mind and you're not stuck into an agreement after you've outbid everyone else and you've overpaid and now you're in a hole. But typically we'll have those reps on site for, let's say, a launch, so you can speak to them before you put your signature onto an agreement.
Speaker 1:And for agents. You still earn commission and in many times it's more than what an MLS co-op commission would be.
Speaker 2:That's correct. Yeah, some builders they will cooperate at an X percent, but mind you, some of them are in that of HST extras and upgrades. So essentially, take that price and strip it all the way down to the cost of the home and then you would get paid, let's say, three to 5% of that price. But that's still more than you would ever make at 2.5% in resale.
Speaker 1:Yeah. So if you're an agent looking to make some good money, reach out to Adam. And if you're a buyer looking to buy a brand new home with a quick closing, reach out to Adam.
Speaker 2:Or Naveen, or Naveen. Yes, adam, our postcard team, we will take care of you wherever you're coming from.
Speaker 1:Great, yeah, thank you, adam, absolutely. Thanks for coming back. Thank you for having me. Okay, we'll talk to you, maybe after your wedding.
Speaker 2:Sounds good Okay cool, thank you.
Speaker 1:Thank you so much for listening. Thank you to our guests and our editor. We hope that you enjoyed this new episode and, if you did, please subscribe and leave a rating and a review. Our goal is to continue to provide you with interesting content and exciting topics, to stay up to date with TFN's Real Estate Real Talk and to get all the behind the scenes content. You can follow us on Instagram at TFN Realty Inc, and on YouTube.