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Market Report

THE AGENCY CANADA MARKET REPORT

The Agency Canada

AUGUST 2021 No 1


From Our CEO & Founder, Mauricio Umansky When we launched The Agency in 2011, Canada was always a strategic part of our growth plans. As we grew our offices throughout the United States, Mexico, and the Caribbean, we were eager to find the right partners to our north who would share the same spirit for innovation and collaboration in the real estate business.

THE AGENCY CANADA MARKET REPORT

INTRODUCTION

Today, The Agency’s presence across Canada is growing in British Columbia, Alberta, and Ontario, with offices in Vancouver, Victoria, Cowichan, Calgary, Kitchener, Oakville, and Toronto. Before the year closes, we’ll open an office in Montréal, expanding into Québec for the first time. Our Canadian team has certainly been making its mark over the last year. The Agency Victoria had two record-breaking sales in 2020, securing the highest priced sale in Victoria municipality for CA$4.4M at 1851 Crescent Road, and the highest sale in Victoria Rockland at CA$3.5M at 1535 Despard Avenue. The office also completed the most sales over CA$3M by any one agent. Meanwhile, The Agency Cowichan team holds the record for most sales over CA$1M in the Cowichan Valley. In 2020, the team had the highest sale on record of a single-family property on Shawnigan Lake at 1890 Flicker Road for CA$2.44M, the second-highest sale ever of a single-family property on Lake Cowichan at 8171 Saseenos Road for CA$2.1375M, and the third highest sale in Nanaimo at 2800 Benson View for CA$2.45M. Two of our agents at The Agency Oakville, Carlos and Christina Clavero, were voted the #1 real estate agents on social media by PropertySpark. Our Canada team has been making headlines around the world, including Canadian Olympic Gold Medalist Ryan Cochrane in Inman, Liam Hope’s 98-acre estate listing with its own aviation hangar in Mansion Global, a $5.75M mansion in Victoria in the Toronto Star, Christina Clavero’s expert commentary in the Globe and Mail and, all of our managing partners shared insight on the strength of the Canadian market in International Banker Magazine. With the recent launch of our newest Canadian offices in Calgary and Vancouver, we held a company-wide Canada Symposium. The virtual event was produced by our Chief Communications Officer Laura Stace and moderated by leading luxury lifestyle and real estate journalist and copywriter, Geoff Nudelman. Geoff’s work has been featured in The Wall Street Journal, Bloomberg Pursuits, Robb Report, Harper’s Bazaar, Travel Channel, Penta, and many other top-tier publications. In this report, we share the findings of our Canada Symposium. Throughout, we address the current state of Canada’s real estate market, the effects of the U.S. and Canada border reopening, and the impact Canadaian buyers may have on markets as they become more active around the world. We hope you enjoy our Canada Market Report.

MAURICIO UMANSKY Founder & CEO No 3


INTRODUCTION

Introduction By Geoff Nudelman BEAUFORT SEA

ALASKA USA

Yukon

Northwest Territories

Just five hours from my native Portland, Canada will always hold a special place in my heart. The country is one of fond memories, unspoiled recreation and a myriad of adventures built around an unparalleled conviviality and splendor of life’s simple pleasures. So when I was asked to moderate and pen The Agency’s Canada Symposium and Market Report, I was, of course, delighted. There’s perhaps no better real estate company equipped to handle the vastness and diversity of a nation with every type of market imaginable. Over the last 18 months, Canada faced similar challenges to other large global real estate markets, but with that also came opportunities. I thoroughly enjoyed hearing from agents across the country about how they’ve made the most of this unique time in Canadian real estate while showing admirable leadership and preparedness for what might be ahead.

PACIFIC OCEAN

British Columbia Alberta

S CALGARY COWICHAN

VANCOUVER

VICTORIA

Geoff Nudelman GEOFF NUDELMAN

Geoff@GeoffNudelman.com

The Agency Canada


THE AGENCY CANADA MARKET REPORT

KALAALLIT NUNAAT GREENLAND

BAFFIN BAY

ATLANTIC OCEAN

LABRADOR SEA

Nunavut

HUDSON BAY

Newfoundland & Labrador Manitoba

Saskatchewan Quebec

Ontario

MONTREAL (Q4)

UNITED STATES OF AMERICA

Prince Edward Island

New Brunswick

Nova Scotia

TORONTO WATERLOO

ATLANTIC OCEAN

OAKVILLE

No 5


OUR CANADIAN DESTINATIONS

Calgary


THE AGENCY CANADA MARKET REPORT

“Similar to other metropolitan real estate markets, Calgary experienced a slump at the start of the pandemic. In April 2020, only 573 units traded. After several months of uncertainty, the market roared back in the first part of 2021 with a record 3,200 homes sold in April.”

Although Calgary is primarily known as a gateway to Canada’s most popular national parks, the city itself is a growing, vibrant destination ideal for young families looking for metropolitan amenities at a value. The oil and gas industry is still the largest economic driver, but newer industries and opportunities are enticing a more diverse set of buyers to explore the possibilities in Alberta. Similar to other metropolitan real estate markets, Calgary experienced a slump at the start of the pandemic. In April 2020, only 573 units traded. After several months of uncertainty, the market roared back in the first part of 2021 with a record 3,200 homes sold in April. While the market is still recording above-average sales volume each month, signs point to more balanced conditions ahead. Kristine Semrau, Managing Partner of The Agency Calgary, expects varying housing inventory levels, ranging from a few months for detached units and up to six months for apartments. Calgary’s buyers continue to seek properties to comfortably accommodate a new lifestyle, including the rise of work and study from home and a focus on local and regional travel. No 7


OUR CANADIAN DESTINATIONS

Cowichan


THE AGENCY CANADA MARKET REPORT

“The Agency Cowichan’s Managing Partner Brian Danyliw noted by mid-2020, the market jumped exponentially, especially with lakefront and oceanfront properties enjoying doubledigit increases.”

The Cowichan Valley remains one of British Columbia’s most desirable vacation markets. In the latter portion of 2020 through to the present day, the eastern portion of Vancouver Island and the surrounding Cowichan Lake area remain especially desirable as many workers continue to relocate amid new remote opportunities. In 2020, The Agency team recorded record sales—the highest sale of a single-family home on Shawnigan Lake, the second-highest sale of a single-family home on Lake Cowichan, and the third-highest sale in Nanaimo. As one might expect, a lack of inventory led much of the area to endure pandemic-related challenges not unlike other, similar real estate markets. However, The Agency Cowichan’s Managing Partner Brian Danyliw noted by mid-2020, the market jumped exponentially, especially with lakefront and oceanfront properties enjoying double-digit increases. Luxury listings also moved quickly as buyers were prepared to pay top dollar for a place to retreat as travel lockdowns began. This led to little inventory being available this summer, but Danyliw predicts an increase in transactions as American money begins to enter the market again. Many Americans who own vacation properties in the area haven’t been able to visit since the border closure began. He anticipates some transactional movement as they return to the island. No 9


OUR CANADIAN DESTINATIONS

Toronto


THE AGENCY CANADA MARKET REPORT

“Ontario’s recreational cottage market also remains strong as buyers follow the trend of looking for more space and a place to set up remote work outposts. ”

Even amid a global pandemic and temporary economic slowdown, interest remains robust in Canada’s largest city. The Agency Toronto’s Managing Partners, Peter Torkan and Paige Torkan, noted that Asian interest is still strong, even after Ontario introduced a foreign buyers tax in 2017 similar to British Columbia’s. In July, a decline in sales was largely attributed to a continued lack of inventory, and multiple offers are still the norm rather than the exception. Condo sales took an especially notable dip in 2020 but have rebounded substantially. More new condo inventory is expected to come on the market through the end of the year, helping to ease price and purchasing pressure. Ontario’s recreational cottage market also remains strong as buyers follow the trend of looking for more space and a place to set up remote work outposts. The Torkans note that plenty of uncertainty remains as the busy transaction season returns in the fall. If more inventory appears across the board, some balance may return to the market, but at this point, it’s too early to call. No 11


OUR CANADIAN DESTINATIONS

Vancouver


THE AGENCY CANADA MARKET REPORT

“Low interest rates continued to drive buyers to enter the market, and agents expect Vancouver’s typically seasonal market to pick back up again in September.”

For several years, the Vancouver metropolitan area was one of the world’s most expensive real estate markets, largely driven by Asian investment and a lack of long-term inventory. While a 20% tax on foreign investment mandated in 2016 cooled some of that interest, the region’s access to world-class outdoor recreation and the city’s rich cultural diversity keep the area high on many buyers’ lists. At the onset of the pandemic, Managing Partners Kit Matkaluk and Hugh Cooper reported a significant decrease in condo sales as many buyers (now more locally-based) looked for townhomes and single-family dwellings toward the suburbs. This shift in interest moved much of that competition to new areas where prices remained high. Just 90 minutes north of Vancouver, the four-season vacation destination of Whistler remains a competitive secondary home market and the area shows little signs of slowing down. Low interest rates also continued to drive buyers to enter the market, and both agents expect Vancouver’s typically seasonal market to pick back up again in September. No 13


OUR CANADIAN DESTINATIONS

Victoria


THE AGENCY CANADA MARKET REPORT

“Victoria may stand to gain the most with the border reopening, as the city sees significant American tourism, predominantly by ferry from the Vancouver area and from Washington State.”

British Columbia’s capital city remains a real estate hotbed. The medium-sized community— home to provincial government and universities—endured a 58.3% dropoff in new listings in July, according to the B.C. Real Estate Association with no real relief in sight. Victoria may stand to gain the most with the border reopening, as the city sees significant American tourism, predominantly by ferry from the Vancouver area and from Washington State (once service restarts). The city is also a gateway to explore the rest of the island—a popular getaway choice for BC residents. Reports also indicate continued interest in the city’s long-term real estate market as residents in the interior look to escape warm and smoky conditions in the interior areas. Additionally, many Victoria-area homes, especially in the city center, are move-in ready, making them easy purchase decisions for those looking across British Columbia’s coastlines. No 15


OUR CANADIAN DESTINATIONS

Waterloo Region


THE AGENCY CANADA MARKET REPORT

“Prices increased dramatically and quickly, with our agents reporting homes receiving more than 80-100 showings in a week, resulting in 20-40 offers a piece.”

Both charming and rich in cultural history, Waterloo is consistently sought-after for its award-winning architecture, unique shopping, and dining experiences. Attracting many of the world’s brightest talents, Waterloo is home to several top financial and educational institutions. It is one of the fastest-growing areas in Ontario, which is no surprise why buyers have consistently flocked to this region as one of the more suburban and affordable markets west of Toronto. Managing Partner of The Agency in Waterloo Region and Oakville Steve Bailey notes the Kitchener and Waterloo areas are enjoying significant interest amid the larger shifts of the pandemic. Prices increased dramatically and quickly, with our agents reporting homes receiving more than 80-100 showings in a week, resulting in 20-40 offers a piece. On the luxury end of the market, Burlington and Oakville have seen substantial interest in almost any property available. Homes CA$5 million and up (especially in the CA$8-15 million range) are moving quickly along with anything on the waterfront. Agents say properties in that range have doubled in sales year-over-year. Looking ahead, inventory is anticipated to remain relatively tight, with buyers seeking homes with additional square footage and room to roam. No 17


Canad Our G

Canadian real estate buyers are historically e spanning The Agency’s global network in Los An Todos Santos, La Paz and Turks & Caicos. Dur worldwide, and their reemergence with the openi LOS ANGELES

The flow of buyers between Los Angeles and mo held steady over the last 18 months—primarily dr tight inventory in L.A, paired with a frenzy of local over-ask offers with aggressive deal terms, will t to re-enter the market, especially in the under US have been trading during the pandemic, wealthy luxe price point, and The Agency Los Angeles-ba foreign buyers to start returning to the market. ARIZONA

It’s a similar situation in Arizona, where agents, i office, report steady activity from Canadian buyer historically had a strong presence in the marke purchase a primary or secondary home in the gr around the state. We saw a surge of ultra-weal making the historically unheard-of price point of $

SOUTH FLORIDA South Florida has always been a hot spot for Can climate, sunny shores, and exciting lifestyle. How of The Agency South Florida, noted that travel re buyers in the market but did not stop their migratio many who already owned property in the Sunsh


extremely active in warmer destinations, ngeles, Arizona, South Florida, Los Cabos, ring the pandemic, their absence was felt ing of the U.S. border is highly anticipated.

ost metropolitan Canadian destinations has riven by new work and lifestyle options. The l buyers locked in bidding wars and making tighten even further should Canadians look S$2 million price-point. While trophy homes y Canadians will have options at the ultraased teams are anticipating a new wave of

including Adrian Heyman in our Scottsdale rs over the past 18 months. While they have et, they are now seizing the opportunity to rowing city of Scottsdale and other locales lthy buyers in the high end of the market, $10 million and above par for the course.

nadian buyers with its favorable year-round ward Elfman, Managing Partner and Broker estrictions significantly decreased Canadian on to South Florida altogether. Alternatively, hine State opted to sell with demand from

THE AGENCY CANADA MARKET REPORT

da’s Impact On Global Markets buyers in New York, Chicago, and California quickly absorbing almost all available inventory. As the border opens, agents are, once again, anticipating increased Canadian interest alongside other international buyers. Stretched inventory remains a significant hurdle, with our agents reporting only 1-2 months of supply available. Additionally, international buyers will remain competitive, willing to pay premium rates, and offering favorable deal terms, including all-cash deals. TURKS & CAICOS In the Caribbean, Managing Director of The Agency Turks & Caicos Sean O’Neill notes that over the last 18 months, many Canadian buyers were purchasing sight-unseen. Working with The Agency’s global network, particularly from the East Coast of Canada, the Turks team assisted buyers virtually during the pandemic in scouting (and buying) dream beachside retreats. Aside from the natural beauty and grace of Turks & Caicos, favorable tax incentives (such as one-time stamp duties) enticed Canadians to move forward, even in this competitive market. While summer is generally the low season, the islands still saw high occupancy rates, almost at full capacity this year. When Canadians are expected to return to the market in October and November, more inventory should be available, but potentially at a premium. BAJA SUR Shifting west, Managing Partner Bernardo Mucino Koenig says The Agency’s offices in Los Cabos, Todos Santos, and La Paz are seeing peak activity in what is considered a seller’s market for the first time since 2007. The movement largely stems from Mexican and American buyers, but agents expect Canadians to return to the market soon. Those heading back into the market will still be able to find considerably favorable pricing under US$1 million compared to other beachside destinations. Luxury inventory in the $1 million to $4 million range has been absorbed, with once-lagging trophy properties now selling faster and at a premium.

No 19


OUR PANELISTS

Mauricio Umansky CEO & FOUNDER | THE AGENCY

Mauricio Umansky is the Founder and CEO of The Agency, a billion-dollar brokerage that utilizes world-class technology and innovative marketing strategies to assist agents and their clients in achieving their real estate goals. Since its inception in 2011, the firm set out to create an industry-disrupting model that would redefine the business and foster a unique culture rooted in the core philosophy of collaboration. In its ten years, The Agency has done that and much more. Mauricio has achieved nearly $4 billion in real estate sales and holds the distinction of selling the most homes in the country priced above $20M. He has represented some of the world’s most noteworthy properties, including the Playboy Mansion, the first house in L.A. to sell above the $100M mark, Walt Disney Estate, and residences owned by Michael Jackson, Michael Jordan and Prince. Mauricio and The Agency also represent some of the world’s top developers and resort brands, including One&Only, Rosewood, and The Ritz-Carlton. Together with his team, Mauricio is noted as one of the highest producing agents by The Wall Street Journal’s REAL Trends annual list, and has been named one of the top real estate executives in the U.S. by Swanepoel’s 2020 Power200. With solid infrastructure and a renowned brand that is featured on international television shows including Million Dollar Listing Los Angeles and The Real Housewives of Beverly Hills, The Agency has grown to over 40 corporately-owned and franchise offices and more than 700 agents across the U.S., Canada, Mexico, Europe and the Caribbean. Poised for further expansion with like-minded partners in strategic markets, The Agency is noted by The Financial Times as one of America’s Fastest Growing Companies and has ranked among Inc. 5000’s list of fastest-growing private companies in the U.S. for six consecutive years. Mauricio is a proud member of The Young Presidents Organization (YPO), an influential and world-renowned business networking organization. His philanthropic work includes serving as a board member for Giveback Homes, an organization dedicated to building homes for families in need, and supports The Children’s Hospital of Los Angeles and the National Breast Cancer Association.

MUMANSKY@THEAGENCYRE.COM 424.230.3701


CHIEF COMMUNICATIONS OFFICER | THE AGENCY

THE AGENCY CANADA MARKET REPORT

Laura Stace Laura Stace has more than twelve years of experience in the marketing, events and partnerships, media, public relations, crisis and corporate communications fields. An expert in creating and executing strategic communications and public relations campaigns, she is also well-regarded for her long-standing relationships with members of the media and innovative marketing initiatives. In her role at The Agency, Laura oversees all internal and external communications strategies for the brokerage, franchise partners, agents, and their clients and spearheads high-level marketing initiatives and content strategies. Prior to joining The Agency, Laura held executive positions at leading marketing and public relations firms in Los Angeles and Miami. She has successfully devised and executed public relations and marketing campaigns for more than 50 new development projects throughout the U.S., Mexico, and the Caribbean and represented Christie’s International Real Estate and ONE Sotheby’s International Realty. Laura began her career working as a journalist and then news editor before transitioning to public relations. She has a master’s degree in communication from Australia’s Griffith University and bachelor’s degree in print journalism and a minor in political science from California State University, Northridge.

LAURA@THEAGENCYCREATES.COM 305 336 3306

Geoff Nudelman REAL ESTATE AND LIFESTYLE JOURNALIST & COPYWRITER

Geoff is a highly-regarded freelance copywriter and journalist based in Portland, Oregon, making the world a better place through compelling copy. As a leading authority on luxury, travel, real estate and design, he contributes to The Wall Street Journal, Barron’s, AskMen. com, and many more. He uses his dynamic insight and key trend analysis to help top real estate and hospitality companies craft messaging with inspiration and purpose. His work has previously appeared in Bloomberg Pursuits, Robb Report, Travel Channel, Harper’s Bazaar and many more. His past clients include Provenance Hotels, American Express and T. Rowe Price, among others. You can see more of his work at geoffnudelman.com.

GEOFF@GEOFFNUDELMAN.COM No 21


OUR PANELISTS

Kristine Semrau BROKER & MANAGING PARTNER | THE AGENCY CALGARY

Kristine Semrau brings over two decades of real estate and legal experience to her role as Broker and Managing Partner of The Agency Calgary. Recognized for her extensive market knowledge and unparalleled client service, she has a passion for the business and commitment to the community, going above and beyond to exceed her clients’ and colleagues’ expectations. An equestrian enthusiast herself, she specializes in dynamic equestrian and lakefront communities throughout Calgary, Rural MD Foothills and Rural MD Rockyview, as well as Property Management and Alberta’s diverse residential, condominium and commercial landscape. Prior to joining The Agency, Kristine was instrumental in bringing Sotheby’s International Real Estate to Alberta and was a Partner and Broker at two other prestigious international real estate firms, Christie’s and Engel & Völkers. She was also a paralegal for over ten years, specializing in contract law, negotiation, mediation and arbitration, skills that transfer seamlessly to her work in real estate. What excites her most about the business is that every transaction and experience is entirely different, allowing her to wear many hats as she helps people find their dream homes and builds relationships with her clients, many of whom become lifelong friends. In her free time, Kristine can be found on the polo field or in show jumping competitions, as well as staying active with tennis, biking and cross country skiing. Fully immersed in the equestrian world, Kristine’s daughter Kyara rides on the Junior Canadian Equestrian Showjumping Team and attends Penn State for Veterinary and BioMedical Sciences. Her 15-year-old son Kaden plays AA hockey and high school football. Kristine is involved with a number of local and international charities that create a platform connecting influencers with volunteer organizations in an effort to grow awareness and create positive change for people, animals and the environment.

KRISTINE.SEMRAU@THEAGENCYRE.COM 403.542.8507


MANAGING PARTNER | BRITISH COLUMBIA & CALGARY

THE AGENCY CANADA MARKET REPORT

Brian Danyliw

A Vancouver Island native with over 20 years of combined real estate experience as a builder and Realtor, Brian Danyliw has sold millions of dollars of real estate throughout his career. He consistently achieves record prices for his clients and participates in marquee transactions throughout the region. With an impressive resume and deep knowledge of all facets of complex transactions, Brian brings a lifetime of Vancouver Island knowledge and strong background in international marketing to his role as Managing Partner of The Agency’s British Columbia and Calgary, Alberta offices. In 2015, Brian recorded the highest sale price in world-renowned Tofino on Vancouver Island—a record that still stands today. More recently, he assisted clients in acquiring a highly coveted 66-acre Gulf Island known as South Secretary Island. He has earned prestigious recognition as leading the top producing office for Vancouver Island in 2015 and was named the number four real estate advisor by GCI that same year, both with his previous company. Experienced, motivated and approachable, Brian attends to his clients’ needs in a relaxed, professional manner, with above-average attention to detail. Listening, formulating a thorough plan, and executing that plan with efficiency while always taking into account the human element is his doctrine. When clients choose to work with Brian, they can expect the highest standard of care in a relaxed and professional environment where loyalty, service, confidentiality, and attention to detail are paramount. Combining his passion for consuming current market information with first-hand knowledge of the Vancouver Island real estate market, he serves as an invaluable guide. Born in Victoria in 1964, Brian’s family moved to the Cowichan Valley the following year. With the exception of occasionally taking time out to travel, he has lived on the island his entire life. Brian’s past entrepreneurial accomplishments include owning successful construction and adventure tourism businesses. Through these pursuits, as well as his personal outdoor adventures, Brian has developed a level of patience and tenacity that is advantageous when negotiating the complex details of a real estate transaction. His international marketing experience, extensive technological expertise and network of dedicated marketing specialists, in union with the power of The Agency, ensure his clients’ properties gain maximum exposure.

BRIAN.DANYLIW@THEAGENCYRE.COM 250.710.8779 No 23


OUR PANELISTS

Peter Torkan MANAGING PARTNER | THE AGENCY TORONTO

Peter Torkan has more than 25 years of sales experience and over 15 years as a broker in Toronto, where he focuses his business in the sought-after areas of The Bridle Path, York Mills, Forest Hill and Lawrence Park. His expertise, attention to detail, and service-oriented philosophy have allowed him to offer his clients an unparalleled experience when selling or buying a home. Peter’s straight-forward style of honesty and hustle, combined with his wide network of local and international buyers, has helped him sell over $1.5 billion in his career to date—an achievement few agents reach in their lifetime and a milestone we are not taking lightly. His awards and accolades include, but are not limited to, Lifetime Achievement Award, Hall of Fame Award, multiple Titan Awards, Multiple Chairman’s award with his previous brokerage and ranking amongst 0.5% of all realtors in Toronto.

PETER.TORKAN@THEAGENCYRE.COM 416.688.9000


BROKER OF RECORD | THE AGENCY TORONTO

THE AGENCY CANADA MARKET REPORT

Paige Torkan

Serving as Broker of Record at The Agency Toronto, Paige Torkan brings extensive experience in real estate, finance, private wealth management and mortgage lending to the team. Working alongside her husband, Managing Partner Peter Torkan, the pair have set new records throughout their careers, selling more than $1.5 billion in real estate while providing white-glove services to their clients. From preparing homes for sale through to the final closing, Paige diligently serves her clients to ensure their every expectation is met. Paige remembers being fascinated with the world of real estate since she was a young girl. Her father was in the business of luxury homes; therefore knowledge of the industry was entrenched in their lives. “I feel so honoured when clients, who are almost always future friends, invite me into their homes and trust me to take care of their real estate needs.” Before launching her career in real estate, Paige had a successful career in finance, working in private wealth management and as a mortgage broker—experiences and knowledge that serve her clients throughout every step of the transaction process. Fluent in both English and Farsi, Paige has a passion for education, having studied computer science engineering and earning countless degrees, certifications and professional designations. When Paige is not busy staging, selling or buying homes on behalf of her clients, she can be found spending quality time with her husband and two daughters.

PAIGE.TORKAN@THEAGENCYRE.COM 647.295.7181 No 25


OUR PANELISTS

Kit Matkaluk & Hugh Cooper MANAGING PARTNERS | THE AGENCY VANCOUVER

Kit & Coop have become a household name as the number one realtors in Lower Lonsdale since 2016. With over ten years of experience and $350 million sold, they bring expertise, proven-results and a people-focused approach to all sales. They address the stress and uncertainty inherent to real estate with a focus on honesty, simplicity, passion and communication. The Kit & Coop team are Managing Partners of The Agency Vancouver, a luxury brokerage and marketing organization. The Agency is redefining the face of real estate by fostering a culture of partnership and collaboration between agents and clients. The result? An advancing industry and competitive representation for clients. Downsizers, families, investors and builders trust Kit & Coop to help them reach their real estate goals. They understand the nuances of the Vancouver market and are dedicated to delivering remarkable results, whether it’s through a great sale price or winning a multiple offer situation. There’s nothing they love more than the smile they see on client’s faces when they’ve made their real estate dreams a reality. As long-time North Shore residents, Kit & Coop love their community and are raising their own growing families there today. They know first-hand the care and emotion that goes into searching for the perfect family home, so work together to support their clients in finding properties they love. The best part is, their laid-back and enthusiastic personalities mean you’ll also enjoy yourself along the way. When they aren’t selling homes, Kit & Coop are busy supporting their local community. They sit on various boards and donate to organizations dedicated to bettering the North Shore and its youth. The team is invested in making the North Shore a wonderful place to live and raise a family. They give back in a number of ways including sitting on the Lonsdale BIA, Hollyburn Hockey Committee, raising funds for Lion’s Gate Hospital and Homeschool Help, an initiative powered by North Shore Neighbourhood House that provided computers and tablets for kids in need during the pandemic. They can’t wait to meet you and become a part of your real estate journey.

KIT.MATKALUK@THEAGENCYRE.COM 604.506.5019 HUGH.COOPER@THEAGENCYRE.COM 778.998.4844


MANAGING PARTNER | THE AGENCY BRITISH COLUMBIA

THE AGENCY CANADA MARKET REPORT

Jason Binab

Jason Binab brings high energy, an outgoing personality, passion for marketing and 16 years of real estate knowledge to his role as Managing Partner of The Agency’s Vancouver Island offices. Jason’s straight-forward style of honesty and hustle, combined with his wide network of local and international buyers, has helped him sell over $1 Billion in his career to date. Jason’s awards range from #1 Team in Victoria and on Vancouver Island (with RE/MAX) to #1 Team in North America and #2 agent Global (with Engel & Völkers, out of close to 10,000 realtors). He has also ranked among the Top 200 agents in Canada (source REP Top 200 Agents) along with Top 3 agents in Victoria based on Google customer satisfaction surveys. Specializing in the sought-after neighborhoods of Oak Bay, Saanich East, Cadboro Bay, Ten Mile Point and Queenswood, as well as Victoria’s high-end waterfront properties, Jason has proved that exceptional service, honesty and integrity are winning formulas. He is proud to work closely with his sister, fellow realtor Sarah Binab, who has been instrumental in his success over the last few years. Today, Jason can honestly say he is living the real estate dream he always envisioned. After auditioning against many of Victoria’s top realtors, Jason was chosen to be the host of the hit TV show Design District. On the show, Jason worked as a realtor and provided clients with advice on renovations and market values. The first year was a tremendous success and local Victoria achievement, paving the way for a widely-watched second season. In 2014, he filmed three episodes for the international real estate show, What’s For Sale With a View, which currently airs on Netflix. Jason also stepped outside the traditional box of real estate media and created a new YouTube Series, Rides with a Realtor, which incorporates two of his passions: exotic cars and luxury real estate. The episodes feature Jason and his friends Tim Quocksister and Joel Friesen of Silver Arrow Cars alongside rare, exotic supercars and beautiful real estate. Jason was born in Trail BC, Canada and lived there until the age of seven when his family moved to Port Alberni. His father owned hotels and nightclubs, which resulted in frequent travel and relocating. At the age of 12, Jason’s family moved to Victoria, where he currently resides. After a five-year stint in Vancouver for film school, Jason fell in love with the camera but found his true passion was for a free-flowing lifestyle that didn’t require a script.

JASON.BINAB@THEAGENCYRE.COM 250.589.2466 No 27


OUR PANELISTS

Steve Bailey BROKER & MANAGING PARTNER | THE AGENCY WATERLOO REGION

Steve Bailey, Broker and Managing Partner of The Agency in Waterloo Region and Oakville, is a seasoned real estate professional who has achieved more than $1 billion in sales over his decade-and-a-half-long career. Steve’s diligence, forthrightness and authenticity have made him an in-demand real estate advisor for clients throughout Waterloo Region and beyond. Prior to joining The Agency, Steve earned numerous awards for sales achievements and career excellence during his tenure at Re/MAX. A skilled communicator and world-aware market expert, Steve has a degree in Business from Wilfrid Laurier University. Though Steve has a broad-reaching knowledge of the local real estate landscape and can serve a range of clients, he is particularly passionate about luxury real estate and guiding clients through the sale of their homes. “Sales and service have always come naturally to me,” says Steve. “I treat people the way I would want to be treated, and I always give them my honest opinion—even if it isn’t what they want to hear. I believe working with someone to sell their home is an honour, and I truly see it as a partnership. I focus on guiding them through the process, managing their expectations and being there for them day or night.” Steve and his team have volunteered with Habitat for Humanity, and he is intent on becoming involved with The Heart and Stroke Foundation of Canada. In his free time, he enjoys golfing and spending time with his family.

STEVE.BAILEY@THEAGENCYRE.COM 519.740.0001


AGENT | THE AGENCY SCOTTSDALE

THE AGENCY CANADA MARKET REPORT

Adrian Heyman

Recognized as one of Arizona’s top real estate advisors, Adrian Heyman was awarded the MVP in 2018, 2019, and 2020 as the #1 selling agent at The Agency in Arizona. Australian-born and raised, with over 16 years of real estate experience, Adrian is an exceptional communicator and natural people person, whose personality energizes all of those around him. This enthusiasm, combined with an overwhelming desire to succeed, have allowed him to develop strategic partnerships and long-term relationships in highly competitive environments. A longtime Scottsdale/Paradise Valley resident, Adrian specializes in high-end residential real estate and investment properties in Paradise Valley, Scottsdale, The Biltmore and greater Phoenix region. Adrian knows the area and neighbourhoods intimately, and his solid market knowledge and savvy negotiating skills have elevated him to the upper tier of luxury agents within the community. Forward-thinking and innovative in his approach to real estate, Adrian is a passionate advocate for sustainable building and development, and proud to align with a real estate firm and lifestyle brand that fits perfectly with his core strengths. A member of the Surfrider Foundation, Adrian, like most ‘Aussies’, is a passionate waterman who loves surfing, paddle boarding and anything to do with the ocean. When Adrian’s not with clients, he enjoys keeping fit, a round of golf and traveling. Above all, he loves a good laugh with friends and relaxing with his wife and three teenage kids.

ADRIAN.HEYMAN@THEAGENCYRE.COM 480.465.2620 No 29


OUR PANELISTS

Howard Elfman MANAGING BROKER | THE AGENCY SOUTH FLORIDA

A top-producing real estate broker in South Florida for more than 20 years, Howard Elfman brings unparalleled industry knowledge and extensive managerial experience to his role as Managing Broker of The Agency South Florida. Howard has owned and led successful real estate brokerages for the past ten years, personally selling thousands of homes and hundreds of millions of dollars in real estate, making him an invaluable asset to clients and agents alike. A Florida resident for more than three decades, Howard holds wide-ranging knowledge and experience in all facets of real estate, including residential and commercial properties. Always striving to grow and evolve as a real estate professional, Howard continually seeks out new industry knowledge and is actively involved in the local real estate community. His extensive expertise has made him a valuable resource for the news media seeking an informed perspective on the local market. He also ensures that he and the agents he leads provide the best possible service and problem-solving techniques when guiding clients through each real estate transaction. Howard’s breadth of experience includes working with local and international clients, representing several prominent Fort Lauderdale developments and representing institutional REO investors, such as Fannie Mae, Freddie Mac, Bank of America, Wells Fargo and Caliber Home Loans. Howard has served the real estate industry as President of Greater Fort Lauderdale Realtors, National Association of Realtors Director and District Vice President for Florida Association of Realtors. Howard was also appointed to and has taken leadership roles on the City of Fort Lauderdale Planning and Zoning Board, Code Enforcement Board, Broward Housing Council and serves on the board of Riverwalk Trust and the City of Fort Lauderdale Nuisance Abatement Board. Born and raised in Philadelphia, Howard began his sales career at the age of 19, traveling a five-state territory while attending Pennsylvania State University. In 1989, he moved to Fort Lauderdale and entered the software business, selling to Fortune 500 and mid-sized companies throughout the country. In 1999, already an avid real estate investor, Howard launched his full-time real estate career. After the sale of his successful Weichert Realtors franchise in 2016, he joined Douglas Elliman as Director of Luxury Sales, followed by The Agency South Florida as Managing Broker.

HOWARD.ELFMAN@THEAGENCYRE.COM 954.568.1117


MANAGING DIRECTOR | THE AGENCY TURKS & CAICOS

THE AGENCY CANADA MARKET REPORT

Sean O’Neill

A creative negotiator and expert problem solver, Turks & Caicos-born Sean O’Neill is proud to leverage his mastery of island real estate and background in law to serve a distinguished clientele at The Agency. Offering a local’s expertise and true passion for Turks & Caicos real estate, Sean serves as a trusted adviser throughout every step of a transaction. With meticulous attention to detail and a knack for anticipating challenges before they arise, he possesses an uncanny ability to find common ground with his clients and fellow agents, ensuring a satisfactory sales process from start to finish. A qualified attorney, he has built a reputation on his ability to consistently negotiate the most favorable outcomes for his clients. For Sean, there is nothing more satisfying than sharing the Turks & Caicos lifestyle with new buyers from around the world. Sean grew up on Providenciales before attending secondary school in Ireland. He holds a B.A. in Economics and History and an M.A. in History of International Relations from University College Dublin, as well as a law degree from College of Law, London.

SEAN.ONEILL@THEAGENCYRE.TC 649.232.1316 No 31


OUR PANELISTS

Bernardo Mucino Koenig BROKER & MANAGING DIRECTOR | THE AGENCY LOS CABOS, LA PAZ AND TODOS SANTOS

Few places in the world mix two cultures as completely as Los Cabos. We share languages, currencies, and customs almost seamlessly. Growing up between Mexico City and Beverly Hills, fully bilingual and bicultural, seems a premonition of Bernardo Mucino Koenig’s eventual choice to set his business here. While researching Cabo’s booming real estate market for his masters dissertation in International Housing at The London School of Economics, Bernardo made the decision to move to Cabo. Over the past decade, Bernardo has been actively involved in all areas of luxury real estate. As a strategist, with a healthy appetite for negotiation and strong ethical professionalism, Bernardo has developed an impressive portfolio of loyal clients. “ Los Cabos has become an interesting investment opportunity for the super wealthy—a profitable and safe real estate asset with fun lifestyle perks” In 2014, Bernardo joined forces with The Agency as the sales director of Hacienda Beach Club. Along with a stellar team of agents, they managed to sell all developer inventory in two years. The success of Hacienda Beach led to the partnership and creation of The Agency Los Cabos where Bernardo is the managing director and broker. “The Agency is more than a brokerage, more than a brand. It’s about reconceiving the way luxury real estate is sold in an ever evolving market to better serve our clients.”

BERNARDO@THEAGENCYLOSCABOS.COM +52 624.191.3767


THE AGENCY CANADA MARKET REPORT

THE AGENCY® AND THE AGENCY LOGO ARE REGISTERED TRADEMARKS OF THE AGENCY IP HOLDCO, LLC. THE AGENCY TAKES GREAT CARE IN THE DEVELOPMENT AND PROTECTION OF ITS TRADEMARKS AND RESERVES ALL RIGHTS OF OWNERSHIP OF ITS TRADEMARKS AND OTHER INTELLECTUAL PROPERTY. ALL CONTENT INCLUDED IN OR MADE AVAILABLE IN THIS BROCHURE, SUCH AS TEXT, GRAPHICS, LOGOS, IMAGES, DIGITAL DOWNLOADS, AND DATA COMPILATIONS, IS THE PROPERTY OF THE AGENCY IP HOLDCO, LLC AND ITS AFFILIATES, AND IS PROTECTED BY UNITED STATES AND INTERNATIONAL COPYRIGHT LAWS. COPYRIGHT 2021 THE AGENCY IP HOLDCO, LLC.

No 33


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