When is the ass ladies and gentlemen and welcome back to another eso jimira We are gonna be flying all the way to Toronto where we're gonna have a great conversation with Dylan Dórova Luxury real estate broker So he's gonna be giving us quick input on what is happening in real estate in Toronto as well as some of the techniques that he's been Evolving to really try to become one of the most dominant persons in real estate in Toronto. Hey, what's happening Dylan? Hey, how are you doing? Thank you so much for joining.
I'm excited to be here. Thanks for having me Of course, and I was making a quick intro about yourself Successful real estate broker in Toronto. How are currently everything in Toronto? You know China's doing well We've in real estate at least.
I mean, we've had a lot of up and downs over the past year But you know, I think what every city kind of globally seems to have in common is that people are really focusing on where they live That's great And how long have you been doing this because I obviously see your career evolving and even now with the pandemic you've been thriving through you know You know great agents and broken into ronters. So tell us a little bit about it. Thank you So I grew up in a real estate family. So my parents had their own brokerage for many many years Just on the outside of the city and I started actively in real estate when I was about 21 I'm not gonna say how long ago that was but when I was 21 and I moved downtown kind of broke away from the family ties and really started to focus on the luxury condo market.
Well, that's that's incredible I definitely believe so and you have some of the most incredible lists I've seen some of yours that just listed are very beautiful I mean really makes it when I go and check them out in theater park the 224 King Street. So what's so unique about it? Well, you know, it's the location. It's it really is we have our entertainment district Which has all the theaters great restaurants for Justin is in the Alexander of the entertainment district I mean, it's called theater park for a reason because it really is right in the middle of everything though It's a really special place.
It's that fine line between loft and concrete and condo and convenience Yeah, okay, I mean you're gonna say right there location So where do you see currently the trends heading towards when it comes to the real estate market in Toronto? Well, what we've seen is that I said earlier a lot of people have been really focused on their space People are really wanting to make sure they have space they can live in and not just you know live in the downtown lifestyle where you go out for dinners out For lunch go to the gym go to all of that because for the past year. That's all kind of being up in the air I mean currently in Toronto all our restaurants are closed all the gyms are closed everything shut down So people are really wanting to make sure they have space what you said about the space is very important on how to put it in a way That is convenient and that is efficient. So that's what's that now Do you see currently any specific niche market that is getting into buying those condos?
Yes, I mean Toronto for many many years focus a lot on our international buyers coming in because it's a very safe stable market Great schools great hospitals kind of good good place for people to come internationally But again what we're seeing now is more local people are buying people are wanting to upsize the detached single-family housing market in Toronto Skyrocketing over the past year. So a lot of people are cashing out of those very very large homes It's interesting what you said there because I mean we see that across many different strong markets You know in Miami for example is a similar situation We've seen a seller's market when it comes to single family homes Just because there is such huge demand that the prices are skyrocketing I mean we've never seen prices so high when it comes to single-family homes However, it's also a buyers market when it comes to condos because due to the inventory that we have and you know People trying to use these ways to catch out. You know you fight also good deals So it's interesting to see both sides of the coin and that's where the market I mean when people ask me to give a quick synopsis of what's happening in the real estate market in Toronto I just I mean my mind is blown because every individual little niche market is functioning in its own unique way I mean it's not just a oh here's the market and it's going up or it's going down You really have to focus and in Toronto can be so neighborhood based that you could have one neighborhood doing exceptionally well And five minutes down the road. It's just not getting that same level of interest I believe it's a domino effect right when a property is sold in a nice neighborhood then everybody else starts buying into the same place So we've seen that in Miami a lot and I'm sure in Toronto similar But definitely location has always been one of the On real estate and I think that more nowadays than ever people are looking into that So I mean I think it's a good combination of everything that is going on in Toronto now for you personally Are you currently making any adjustments in the way that you operate your business?
I mean we've had to we've had to really kind of have a big shift on how we're getting our listings exposed How we're making sure we have good safety for our sellers making sure that the people coming in are very qualified because the market that I work in Is the higher end of the market in Toronto and a lot of the times people are just quite No, and they're curious and they want to just kind of look around and see nice properties And in the past it wasn't so much of an issue because you know people were around and people were going out We used to open houses and some properties and now everyone's coming through and we want to make sure they're really well qualified So we are pre-qualifying people probably much more than we would have in the past to make sure that when they do come to the properties They are the right buyer for it, and I think the big way we've done that is through technology Buyers are going through they're doing their 3D virtual tours. They're seeing videos. They're seeing all the photos They're seeing every minute detail that the property has and therefore when it actually come and see it It's not like there's a big surprise that the view is different the rooms are different people are just doing that due diligence in advance Which I mean we're so fortunate that we're able to have that technology to do because it's a mixed our life easier But also more complicated get things ready, so No, indeed. No for sure.
So thanks for sharing that and you know I think technology nowadays definitely plays a big role with social media as a primary source of exposure thing that you're also very savvy when it comes to The latest digital platforms. I don't know if you are into clubhouse I have joined clubhouse. I've followed a few of the chats you've been on I've seen you that's why yeah, I haven't really participated as much yet I'm still kind of getting the feel for it But I mean some of the conversations It's so fascinating because people are all over the world and I feel a lot of people are experiencing very very similar Circumstances right now, and we used to think that Toronto and Canada was so far removed and so isolated from having were asked because We are very very different market, but it's pretty similar across the board You're right and it's very cool to see how many people around the globe can connect in one particular app and discuss You know what is going on and help each other assist with different ideas So I think that the way that everything is heading especially in real estate It's digital just because it's much more convenient for everybody even now I'm not sure if you're doing this often or not But here Miami even people that are in Miami prefer to do facetime Like I just go to the property this is a face-on and they're making offers based on what they see on facetime You know and I think this is something that you know It's becoming more natural where the pandemic started everything was a little bit off You know, but people are getting used to it like look at us We're talking live like this club people have a conversation beyond that so it's a new trend I think it's you to say it is definitely I mean I definitely think people are becoming so comfortable with technology and going through I know with like the 3D Matterport tours Where you can see everything with all the detail we did that or years and years and years ago and nobody would watch them Nobody would go through them nobody would look at them So we just stopped doing them entirely I think even my photographer was saying to me the other day that he was thinking of getting rid of his Matterport material And then both of a sudden he's like booked up for weeks trying to get that That all those Matterport's done because everyone now knows it but now we understand it so people are comfortable with it But I don't think that's ever gonna take away from like the in-person hands-on Absolutely not I agree with you. I agree I don't know if it is happening But I think that people still want to have an external voice guiding them through giving them the comfort the knowledge But that's why I think that face that even if you're not in person you're still assisting somebody, you know You're still kind of like guiding through you want that trusted person that you can lean on Well, and that's where social media has been great over the years, but sometimes it's you lose that personality Yeah, you're social media is phenomenal.
I love everything you do I just want to join you in everything But having that connection with people makes you really understand them and gives you kind of that trust and confidence And they're not just a computer spitting out the same thing over and over again So totally totally so what are some takeaways that you will share with the audience for those that are trying to make it through this time in real State or why not you know leverage their business? Yeah, I mean the main thing I always have people is knowledge if you have the knowledge of your market and you have In depth every detail, you know, what's happening then people will trust you in the sense that if you call them They know what you're talking about they call you it really makes it breaks people And I think a lot of people forget to put in all that back legwork that goes into things doing all that research knowing all the data And that is always the key because I think in the luxury market the one people value the most is their time And so if you have done that and you can alleviate work that people have to do and you can save them time Then you you're invaluable to them. This is great. This is great.
I really enjoy your your knowledge and sharing this I see somebody in the audience also from Toronto that has real estate there, you know So it's very interesting to see how everybody from different areas in the world have different inputs when it comes to real estate Now I always ask this question and I'm very curious to know what is really for you luxury. Oh, what is luxury to me? I mean, it's a luxury to me is just convenience It's it's service convenience and kind of as I just said anything that saves you time I mean if you can have people that can help you through things and do stuff behind the scenes without having to get you involved in it I think that's luxury. So I think that translates into you know, our luxury condos They have service above all is the most important people want everything done for them And they don't want to have to feel like they're bothering people to get things done or constantly following up or nagging or anything like that And so I think that luxury to me is if anything it's it's the ability to have convenience and simplicity in your life I think this is great I mean, I really like the way that you think and how you're currently evolving through this difficult time to drive through in real estate in Toronto And I was asking if somebody has any questions about anything related to real estate in Toronto or would like to reach out to you What would be the best way to get in touch with you Instagram?
Sure, I mean Instagram is great. I mean my username is very easy. It's just Dylan Donovan. I was I've been on Instagram for a long time So I got one of the first names also my website is Dylan Donovan dot CA So that's really easy to get to as well.
There's a ton of information there on the Toronto real estate market I mean, you can go through all the different buildings that are out there all the sales I mean, that's where people are spending so much time just educating themselves educating themselves on the market And that's what people are doing. People are smarter than they've ever been and they're more knowledgeable than they've ever been And so as we need to keep it up it Excellent not very well said and I do appreciate your time Dylan I look forward to seeing you here Miami if you get tired of the cold or when the weather gets a little bit nicer I'll go visit you. Yeah, I think that I'd rather go there. It looks beautiful and I really appreciate you having me on here It's nice to chat.
Of course, they like well. Thanks again, and we'll see each other soon. Thank you. Bye bye Thanks again for everybody tuning in today.
We hope you enjoyed it I remember embrace its beautiful success in life. My name is Alvaro and I'll see you next time