Real Talk | The Real Estate Podcast
Real Talk | The Real Estate Podcast
Evolving Real Estate Trends and Leadership Insights with Nicole Lombardi
Discover the transformative journey of Nicole Lombardi, VP of Sales at TFN Realty, as she unveils her path from a decor center to a leadership role in real estate. Dreaming initially of a serene life in Italy, Nicole's aspirations shifted dramatically, leading her to carve out a successful career in the competitive real estate market. Hear how mentorship played a crucial role in her growth, the nuances of sales strategies, and the vital importance of lead generation and marketing. Nicole's story is not only inspiring but also offers a comprehensive look into the various dimensions of the real estate business, making it a must-listen for anyone interested in this industry.
We also explore the evolving landscape of real estate, especially in light of recent global changes. Nicole sheds light on significant trends such as virtual home presentations, affordability, and multi-generational living. Additionally, the episode delves into the resurgence of live-work spaces and the need for adaptable floor plans in the era of remote work. Beyond market trends, Nicole discusses the essence of empathetic leadership and the joy of celebrating team successes, even during tough times. This conversation is rich with insights on fostering a supportive environment, emphasizing kindness, authenticity, and the power of genuine care in building a thriving real estate team.
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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. Welcome back to another episode of the TFN Real Talk Real Estate Podcast. Today we have Nicole Lombardi, our VP of sales at TFN Realty. Welcome, nicole, hello. Thank you for having me. Thank you for being with us. How are you doing? I'm great Good. We were just talking about Italy. We were my aspiration and so you were mentioning that you are considering would be a dream, but maybe you never know a move to Italy to open up a shop.
Speaker 2:A simpler version of life? Yeah, no, we. Often, when we're vacationing, we dream of and visualize what it ought and could be. And Italy has my heart.
Speaker 1:Yeah, italy has my heart. Yeah, it's funny because every time I travel and I don't know if it's with you or maybe it's a common thing for people who travel I picture living there Like I look at real estate. Absolutely, yeah, I look at homes, I go to the markets Like I really picture living there. Yeah, it's cool.
Speaker 2:And it's scary when you can actually see yourself doing it. Like we were just saying on our honeymoon, we just more and more every day we had more conversations about like, yeah, we could sell everything, come here and make a life here. And it's the beauty of my husband and I we're a bit of a risk taker in that sense, so we can just kind of, yep, let's do it, let's call it a day, and there's something really special about italy too, in the lifestyle right it's right, it's enjoying the simple things and really having that zest of life and really, in my opinion, really the outside noise is canceled out.
Speaker 1:Yeah very true. I'm going this summer in a couple of weeks and we started to reserve restaurants reservations and many of them are closed, like from 10 to 12, and then there's this break and then they start up again at 7. But we want to get out Like between 12 and like 4 or 5 is like prime time to explore. Everything's closed. Yeah, it's a good balance they have. We don't have that.
Speaker 1:We're working 24-7. 24-7. So can you start by giving us an overview of your journey? All right well, did you start in this industry?
Speaker 2:yeah. So we go back to nicole, 17 years old, in grade 12, and I was always really lucky in my studies. I had photographic memory at the time, so I didn't really apply much to it. And I had this dream that I was just going to go away, and I was going to go away for school but didn't really have a path that I was leaning on, and so I let all my Toronto offers expire for universities and I was dead set of going to university away and came expiration time and my parents said, well, you're not going for anything specialized and so we're not paying for it. Yeah, and then a 17 year old Nicole was great, now how do I pay for this? And so, long story short, all of them expired and my dad said fantastic, you're going to work, and in January you reapply.
Speaker 2:So that I did, and I met a decor studio manager and fell in love with the world. And so I started at a decor center and fell in love with the professionalism that I had yet seen. And so, from 14 to 17 years old, I worked at a bakery of sorts, and it had various elements and departments of it, but it was a European-styled run family business. And so when I started at this decor center, it just opened up my eyes to something beyond, you know, compare and measure and what I had ever dreamed about. And from there I met various departments. One was sales and so I transitioned when I went into university onto the sales floor.
Speaker 2:I was a model home hostess and sales administrator and fell in love with the process and kind of got my hands in everything. And really the start of my career was my mentor at the time saying to me you know what, come and join me on sales openings. And from there it was just, we became the dynamic duo of sort and we played off of each other's vibe. And you know, I took everything administratively, put it together, each other's vibe. And you know, I took everything administratively, put it together, pushed it out on the sales floor and it just started. It ignited the passion and I transitioned from administrator to sales agent till as old as time I had an administrator, a sales rep. I was an administrator at the time who really, you know, put me through the gauntlet and said to me you know, you couldn't even get your license if you tried, and six months later had my license replaced them on the site. Wow, and then did the sales floor for five, around five years, and then transitioned into management.
Speaker 1:Wow, so you really know every aspect of this process.
Speaker 2:I do, yeah. And then from there I did management for a bit and then I decided to get married and have children and so I went into the field of sales firm and so I represented various builder clients with a partner and we together represented most of the GTA in new home sales and I learned a ton on that side of it and owe him a lot, because he taught me, took me under his wing and taught me lead generation and data mining, and so I knew everything that there was to know about the sales floor and now opened up my horizons and my experience to lead generation and how important marketing is and the initiatives and how that then relates, and my experience to lead generation and how important marketing is and the initiatives and how that then relates, and goes back to the sales team and all those tools wrapped up in one, what that means for our builder clients, for our end users, and how those relate to successful sales on the floor.
Speaker 1:Wow, yeah, so your experience and knowledge also evolved. Like you didn't stay still for any period.
Speaker 2:Wow yeah, so your experience and knowledge also evolved Like you didn't stay still no For any period. That's great, yeah. Yeah, I kind of I get this feeling and I can now, if I look at, you know, the past 17 years of my career, I can pinpoint the bored feeling. Yeah, and the second I feel bored, then it's like, okay, I need a new challenge. You know no different to this new opportunity. I was in a moment in my career that I kind of felt stalled and I knew it all and that's not a great feeling. I don't sit for too long in that feeling and so you know, you put it out there in the universe and opportunity came and we're now into this new chapter of challenge and evolution and great things are coming. I mean, we are really taking everything we've learned good, better and different and the experiences that we have, and putting together a team and an offering that I don't think the industry has or will see Agreed.
Speaker 1:Yeah, so you are our new VP of sales. I am. So you kind of sort of gave a high level overview of your role, but can you give us more detail as to what you're doing here and where we're going?
Speaker 2:Yeah. So one of the initiatives me coming on board with TFN is to build our builder client business and our relationships. And that has started. We've brought a couple of builders on and really just giving them that experience of being a more innovative brokerage for them. So moving away from just that onsite sales company but becoming a partner in their success. So focusing on builders who may be at the start of their career and of their story and maybe they have a parcel of land but they don't know quite what to do with it, we can act as their consultant on the different elements that are required before we jump in and really align ourselves as partners. We can also become a partner in the marketing side of things because we have a team that's so experienced on that side of it and then connect that to the result of sales, specifically in this market. It's no longer what it used to be or what we've seen in the last, you know, five to seven years, and so having that experience behind us really will help our builder clients succeed and push through to the next evolution of their business as well.
Speaker 2:So that's one initiative.
Speaker 2:The next is to automate our builder clients and, with our administration teams working with them to put process together so that TFN represents not only a successful sales cycle but a really thought through program that has the client in mind, in both the builder client so the way that they're processing and executing on deals, and how that looks on their backend for their various departments but, moreover, the purchaser journey how that looks and feels, because we all know buyers don't buy from a plethora of things.
Speaker 2:It really is the brand and the person that's representing that brand, and so we are a big part of that. We want to align ourselves in a partnership so that that builder's brand is exceeded and is represented. But, furthermore, we want to be the advocate and the educator for that buyer to sit back and say here are the things you're going to need to know. Pre-approval, do you know how much you can buy? Then, understanding what the buyer's needs and wants are what are you looking for In that price point? How can we make that happen for you, because home ownership is the largest purchase of their life? Right, it's not a car, it's not a pair of jeans. It's something that most aspire to, and for us to be a part of that, as it's something that most aspire to and for us to be a part of that.
Speaker 2:As our sales team, we have to honor that moment and really be the advocates and the educators in that space and so building process around that in both the administration function and within our sales teams, understanding the bigger picture of lead generation, how that works, the dollars that the builders spend, how that relates to them on site and how they can help facilitate that through a journey and an experience with the buyer. That's our focus and we're going to build a process around that that we all do now. Right, the vast experience that we have within our team. It's there. We understand it. It's just quantifying that now and putting that into a process and a flow that everyone now just lives and breathes it.
Speaker 1:Yeah, and I think it's a you know, it's a level of care that makes us different from other brokerages. We're not a service provider, like you said we're. We go into partnership, so it's not about just providing a service. We're here to, you know, promote and sell your community. We're here, we care about your business. We care about your buyers. We want these buyers to come back. You know, to each and every community that our builder clients build, and so we're really invested in that process.
Speaker 2:Yeah, and we're the experts in this field. Like all of our team, our new home team have 10 plus years of new home experience, meaning they're on the floor, they understand what these buyers want, they are communicating with buyers and brokers alike, and that is our expertise, and so for us, the way that we see our partnerships with builder clients is to align ourselves as a partner. We're not going to make a recommendation that only benefits us or benefits a quick sale. We want to be very clear that we're going to look at that long-term play. We're going to strategize with those builders that we represent and we're going to recommend sales releases that allow the builder to layer in some profits. That allows the builder to have a cohesive construction schedule, and these are all elements that make us more than just a sales firm. It's one thing to sell a home. Everything else that's included before, in the middle and after that makes us a builder partner for these builders in the industry.
Speaker 1:Yeah.
Speaker 2:The missing piece right. I mean today's market. It's not order taking. We've had a really great five, 10 years and now it's time for us to take a step back, understand what these buyers need, understand affordability and be able to advocate for both of those, on behalf of our builder clients and our buyers.
Speaker 1:Yeah, so you and I have a shared passion and love for technology, for process, for automation. Where do you see technology in this industry over the next couple of years evolving?
Speaker 2:Well, I think with COVID, a lot of builders had to move and they had to change slightly, and I think that was the beginning of this new era of tech for a lot of builders, and so I think the space becomes more digital. You know, as a consumer at large, whether you're buying. You know. Back to the pair of pants example, you can now do that online and it can be sent to you Everything on Amazon Right.
Speaker 2:And so I think we have to transcend that, and that's where I think our technology is going to go. We're going to have more platforms that are conducive to getting more information at your fingertips. More information will become available online, and then that buying process will really be automated so that it can be adopted in a platform that is more virtual in essence, so that if we are dealing with clients who potentially have an availability conflict but they want to get into a home and they know what they want, or accessibility, they can't really leave their home.
Speaker 2:Then we can come to them in a virtual space and that's really important. Right, Gone are the days of you have to be in the sales office and you have to come here in order for you to buy a home. We're really transcending and redefining what the definition of buying a home looks like and leaning a little bit on resale right. Like, as resale agents, we go to the client right. We go to their home. They, you know, honor us with a tour of their home and we have analytics and CMAs to you know, tell them and advise them what the pricing is. We're taking a little bit of that look and feel and putting that into the new home space where we're now just changing the landscaping of how we get to a buyer.
Speaker 1:Yeah.
Speaker 2:Buyer could be. You know many kilometers away from us as well, especially if we look at our builder clients and where they're building and we couple that with affordability. There may be a client who's in downtown Toronto but wants to achieve homeownership and so maybe making the drive. That's where their ultimate goal will be and that's what they're going to land, but in their current space and their current calendar doesn't accommodate for that. So having these virtual spaces that look and feel and add just as much value to a visit to a presentation center will be, I think, where we end up in the years to come, and it's amazing how quickly we adopted it and embraced it.
Speaker 1:Well, we had to. We had to, but if COVID didn't come along, I don't know if we would have gotten there at some point, but it would have taken some time.
Speaker 2:Yeah, I credit a lot to COVID. I saw a lot of great things come out of builders and a lot of advances that were made just on more process and the way that we were going to get to the buyer and the focus around the experience that that lends, and so that's exciting to me. I'm actually really excited to see where this goes, because the focus, the lens, is on the buyer and how we get information to them that's accurate, that's timely and that also has some emotion behind it as well. Right, because this is like I said, we you know we've agreed to this. It's the biggest purchase they're going to make and so we have to honor that moment for them.
Speaker 1:Yeah, absolutely yeah. And then, in terms of the market, where do you see things shifting?
Speaker 2:It's an interesting. It's an interesting question, and I think we find ourselves asking these questions a lot, and you know what we had said before affordability is going to be a big thing, and so I think the market's going to move into more of a shared perspective. So, you know, we're no longer going to be building out, but up, maybe smaller, more multi-purposed spaces. Recently we've seen a really big play on multi-generational homes, which historically we haven't seen, and I think that that is going to be a theme that's going to be more prevalent across most master plan communities. I think when we look at stack towns or three, four story products, we may be getting into more of a duplex, triplex type of scenario where we're affording the opportunity for multiple ownership pieces in one dwelling. I think that's where we're moving towards and then just more unique and efficient floor plan and design spaces that allow for, you know, families or friends or, you know, little co-ops, to own something together and achieve that home ownership goal in a non-traditional sense.
Speaker 1:You know, what I haven't seen in a while is the live-work concept. What are your?
Speaker 2:thoughts on that. I think that certain spaces, certain areas, it definitely does do well. If you're looking at an urbanized community, I think that there's a great example of that where you could have a business owner who can serve double duty Challenges. They're quite expensive and you're owning that full space. But if you are an independent contractor and you're looking for somewhere to land, and or potentially, if you have a law firm or a professional office or you're a service ad, if you're in those more urbanized areas and you have walkability, that could be a really great option for you that you're not renting a separate space plus a home, you have that one vertical option yeah, I, um, and I I haven't seen it, like I said, in in a while, but I could see things shifting in that direction again because of covid.
Speaker 1:Yeah, people working from home, people, you know, changing careers all together and starting businesses working from their house, so, yeah, you may see a comeback.
Speaker 2:Yeah, we've seen that in design too, right, a lot of the verbiage that we used to describe a fourth bedroom is now a flex space, or a living room is a multifunctional space. Right, and that back to your point. Like with COVID, a lot of people moved away from brick and mortar and some companies haven't even moved back in. They've adopted the virtual nine to five workspace, they've adopted the virtual nine-to-five workspace, and so now families and homeowners need a redefined space, and maybe a bedroom doesn't work, or working in the basement for nine hours a day isn't really conducive, and so it's getting people into spaces that have opportunity for sunlight and window spaces and movement.
Speaker 2:And I think that's one of the other trends we're going to see is a really a resurgence of a redefined floor plan. You know, a main floor maybe doesn't just have to have a family room, a dining room, a living room, kitchen. It may have multi-spaces, where once we thought was a good little study nook for a kid can now be a den as an office or something with a door, because the kids are, you know, on the family in the family room playing, but mom or dad has to work, or so I think we're going to see just a lot. Yeah, a redefinition. Yeah, little one just comes peeking in the back on a team skull.
Speaker 1:Yeah, but like give them the look, the look far away. They don't understand the look.
Speaker 2:No and it doesn't matter how many lectures you give them beforehand. Right, yeah, and the amount, but it's very important.
Speaker 1:Yeah, I just want to know can I play with this toy or can I go?
Speaker 2:outside, yeah, and they're curious, right, they're curious to see what you're doing. Yeah, because your voice changes, right? Yeah, not the mom voice, it's the work voice my son said today.
Speaker 1:I got off a call a couple weeks ago. He he's like why were you so fake? I'm like I was not fake, I was just, it's a work voice. He's like you sound awful so fake. Okay, whatever, but it's so true. Or resale agents wanting to move into pre-construction Any advice or tips for them? Expose?
Speaker 2:yourself.
Speaker 2:I think that the new home side of the business is one that is so different than resale and there's a lot to know in a short order of time.
Speaker 2:But exposing yourself to it whether you start as a co-op broker, right, so you could be a resale agent who's farming a certain area If there are new home developments in those areas start marketing yourself that way.
Speaker 2:Get to know the onsite sales team, get to introduce yourself to that representing brokerage and or the builder, and expose yourself to the language. Agreements of purchase and sale are quite different, and when you can become a leader and a wealth of knowledge in that space, you've already, you know, half of the battle's already won. And then from there, get to understand where there's hotspots of communities, because builders are always looking for experts in those fields and they're always looking for representatives to sell their product. And then from there, align yourself with those sales teams and don't be afraid to introduce yourself to the broker of record or their sales management team. Attend broker events hosted by builders. So those are great networking events that you don't have to just be in the industry to get a site. It's really that exposure that you afford yourself, really, because you're in control of that and it's just being out there. It's being out there and making sure that you have the knowledge to back that.
Speaker 1:Yeah, and where do you see your career over the next 10, 15 years?
Speaker 2:That's a good question and it doesn't have to be career. Yeah, life, life, life. I'm really leaning into leadership. Italy, maybe.
Speaker 2:Maybe I found this new passion and this is a four-year growth plan that has already been in the works. But as I'm growing as a professional and as an adult and as a mom of two young kids, I'm really leaning into this leadership role that I think I've done naturally over the course of my career, but really being deliberate in understanding the needs and the wants of the people that are around us and acknowledging people's strengths in our teams and being the person that's going to empower them in a respectful, holistic and positive way. So, you know, being that energy source for our team that's going to give them the energy and the confidence to move their career up, and I think that's the ultimate success. Right, we are only as successful as our team and we rise with them. And, yeah, if I think of the next five to 10 years, I think that's where I'll move into the space and and then branch that off into our builder clients.
Speaker 2:And, you know, really just be that source of knowledge is power and my knowledge is free. Yeah, so if I can share what I've learned, that's. You know it's a huge win on my part, and the second part to that is changing the landscaping of the new home industry right now. You know, a lot of times I find myself when I put initiatives together and or we, you know we do roll things out with the team, I find myself asking like, would I appreciate this as a sales admin or as a sales rep? Yeah, and a lot of times throughout my career. I mean, we all have similar stories. They weren't the best experiences, they weren't kind, and so my goal is just to be the leader I wish I always had.
Speaker 1:Yeah.
Speaker 2:And not profess that I am a leader, but just do it through action and let my actions speak louder and really let the team know that I'm here and that my actions will give them that sense of security and empowerment to do great things, because individually we all have such a talent that can add and grow this business exponentially, and so I look at it as my job to really find what those talents are and those passions and figure out ways that we can get them in center stage.
Speaker 1:Yeah, it's that care piece again. That's it, yeah, genuinely caring about what they need and getting them to the level that they want to be at.
Speaker 2:Yeah, While maintaining the excitement. That's one piece. I've always loved real estate, mm-hmm. You know I never want the team to lose that sense of excitement and joy, because that energy exudes to not only our clients but our builder clients and prospective buyers. And I think you know on the floor that was one of my secret weapons. It was always educating people but investing in the joy and feeling that energy with them. People buy into energy that. You know we're all energy spaces and so when you can give that and you can share that excitement and that care and the understanding because it is, you know, it is a big piece of the whole puzzle, and not only in our career, not only in real estate, but in life in general. You know, like I always teach my kids like, be kind and be, you, live authentically in who you are, but also understand that there's such joy in every element of it.
Speaker 1:Yeah, and I think it's being able to see these moments and appreciate these moments and understand that this is a moment that should be celebrated. And our industry is actually very unique to that because large portion of it is transactional based. So it's this almost an addiction to this feeling of success. And you know we build this momentum and you know we have difficult times, there are market downturns, but finding moments to celebrate these success and come together and boost that morale back up again, well, even in the downtimes.
Speaker 2:Right, it's leaning into that moment and sparking some sort of joy or challenge that's going to get you through that and that's the beauty of our industry.
Speaker 1:On the pre-con side of the business, it's not a lone real estate is a very lonely business. But pre-construction, you're surrounded by a team. You're in a team, you have colleagues, you have sales administrators. Surrounded by a team of people. You have colleagues, you have sales administrators, you have the builder, so you're never alone.
Speaker 2:No, yeah, no, and if you lean into that team, there could be such foundations built that you can lean on them, they can lean on you and I think that's the best part of New Colms.
Speaker 1:Yeah, totally, yeah, well, thank you, nicole. Thank you, thank you for coming. 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 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.