Canadian entrepreneur and investor, Kevin O’leary, is the keynote speaker at the CREB Forcast Conference and Tradeshow this upcoming Wednesday, January 14th. If Kevin is anything like the character he promotes on television, his keynote is sure to be engaging and controversial. So, in an effort to prepare the REALTORS® that are headed to CREB this year, I thought I would compile some of Kevin’s thoughts on real estate and business. And after reading this, I’m sure you will have some burning questions for him at CREB 2015. Let’s get started:
Kevin Says: NO!
Kevin’s first job was at an ice cream shop, but it only lasted two days because he refused to do something his boss asked him to do. From that day on, Kevin decided that he would work towards becoming his own boss.
Lesson for Real Estate:
Pay attention to the turning points in your own career or business. If you have a strongly negative reaction to a certain environment, client or business opportunity, it’s important to acknowledge it and ask yourself if it’s time for a change.
Question You Can Ask O’Leary At CREB 2015: What exactly did the boss at the ice cream shop ask you to do?
Kevin says: Rent, don’t buy!
Kevin believes the rules have changed for the upcoming generation and he advises people to rent instead of buy.
Listen to what Kevin says about renting versus buying in the clip below (start the clip at 5:10)
Kevin Says: Condos are Crusty
In another interview, O’Leary goes even further by stating to Condo owners that their condos are getting crusty.
“All of these condos are what I call ‘shoebox condos’ . . . 440 square feet, two tiny bathrooms, no parking, pure commodity, square box of cement. There is no value to me as an investor. To me, it’s a depreciating asset. The building in 10 years is an old shoebox condo. I think it’s worth less,” – Kevin O’leary, BNN Interview, 2014
Lessons for Real Estate:
This lesson is more of a question to ask yourself. As an agent, are your prepared to answer hard-hitting questions from potential clients about your opinion on buying versus renting or a house versus a condo? Although it is a personal choice, as a REALTOR®, your clients are going to want to know what you think and why you think it.
Question You Can Ask Kevin O’Leary At CREB 2015: Why do you believe in renting instead of buying? (See if his answer is different at CREB because he is talking to a REALTOR®)
Kevin Says: People With Variable Mortgages Will Be Slaughtered
Earlier this year, Kevin pulled the plug on O’Leary Mortgages, a start -up Kevin spearheaded to offer fixed rate mortgages. Although he ended that business venture, he still has a deep interest in the mortgage space and is looking for the right type of opportunity.
“This is a mission for me…“There will be thousands of people with variable mortgages that will be slaughtered…with fixed mortgages they’ll have five years of knowing what they’ll exactly pay.” – Kevin O’Leary, Mortgage Broker News, 2012
Lesson for Real Estate:
As an agent, it is important to know what kind of information is floating around about mortgages. When a well known Canadian makes broad general statements about personal finance decisions, it’s a good idea to be aware of both sides of the argument because it’s likely that your client have heard a lot of opinions.
Question You Can Ask Kevin O’Leary at CREB 2015: Why do you believe in a one size fits all solution for mortgages?
Kevin Says: Steve Jobs Was Tough
He was so abusive! Toughest guy I ever met. We were in the boardroom at Apple and he went into a diatribe like I had never heard before. But we eventually did a lot of business with Apple. He’s a tough guy. Maybe that’s why it works. – Kevin O’Leary, Macleans Interview/11
Lesson for Real Estate:
Just because they didn’t hit it off on a personal level, that didn’t stop them from doing business together. So, the lesson here is to not let your personal feelings get in the way of your business decisions.
Question You Can Ask Kevin O’Leary at CREB 2015: How did you land a meeting with Steve Jobs?
For those of you going to CREB 2015, I hope these ideas helped prepare you a little and be sure to check out the other speakers at CREB which include Ann-Marie Lurie (Cheif Economist, Calgary Real Estate Board) and Rollin Stanely ( City of Calgary, City Manager) to name a few. Also, don’t forget to stop by our Redman booth (#220) to take advantage of the CREB Special offers!
Thanks for Reading – Sabrina
Image Source:”Kevin O’Leary: by Randstad Canada is licenced under CC BY 2.0 Background modified from original
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