Condo Investment Insights

A Professional’s Perspective series probes the city’s top executives for insights into life in Toronto. On the 26th of October 2018, we sat with Ryan Coyle of CONNECT Asset Management which has offices just east of The Local restaurant in Liberty Village. On that morning we met across the road at Williams Landing.

Ryan, what is your actual job title?

I am a Real Estate Broker (Realtor) in Toronto, but not a real estate agent in the traditional sense. I take more of an Investment Advisor’s approach to selling real estate. I have a resale team and we help everyday investors build their wealth by investing in cash-flow condos. I manage the pre-construction division which is mainly our investor side. I own a property management company that manages our clients’ units when the condo buildings are complete, renting their units to the public.

What’s the best part of your job?
Creating wealth for clients.  There’s no better feeling than helping people make money.  And getting there is fun too; for the last four years I’ve been training top staff, inspiring them (I hope) and learning a whole lot myself as I manage the entire team.

Why do you want to do this job?
Pure passion. I am very fortunate that I knew exactly what I wanted to do at a very young age, and so today everything I do for my clients is something I figured out on my own, some time ago. That being how to minimize risk and maximize returns.

What’s your favourite joke about your own profession?
There are jokes about my profession. I did hear one once about the Devil promising a real estate agent that if he traded his soul, and the souls of his wife and children he would be assured success. To which the agent replied, ‘So what’s the catch?’

Where in Toronto can we find your profession?
Everywhere! There are over 50,000 realtors in the GTA, and so people often have to dig to find the right one.

What’s the best question a prospective customer could ask a member of your profession when comparing services?
Do you invest in real estate yourself? Do you own the home you live in?

What is your Toronto pet peeve?
I get annoyed at how easy it is to become a Realtor, and the fact that 99% of the deals are done by 1% of the agents. Also, the fact that most realtors don’t own any property themselves. This means they have little or no first-hand knowledge about lots of things that soon become part of the homeowner’s experience.  I also get annoyed with Toronto drivers who cut in line, but what can you do? Toronto is the fifth worst city in North America for commuting, and that’s probably one reason why buying property downtown is such a good investment.

As a freelance professional, what’s your rate? or how do you get paid?
I am compensated by developers so my services are free for buyers / investors.  We have a number of fee structures for property management and our lending company.

What’s the best way a member of the public can get discount service from your profession?
Look online, but be warned: you get what you pay for in life, and especially in real estate.

What’s the worst thing a prospective buyer could ever do or say to a member of your profession when shopping for service?
Try to work with multiple realtors at the same time. Realtors and clients should share the same commitment to each other to get the most out of their exclusive relationship.

Ryan Coyle – Toronto Real Estate Broker – Connect Asset Management

Ryan Coyle Toronto Real Estate Broker from Connect Asset Management on Vimeo.

Original Link:https://torontoguardian.com/2018/11/ryan-coyle-real-estate-broker/