Welcome to Meet the Agent, an ongoing series profiling real estate agents from across Canada. With more than 150,000 agents, brokers, and salespeople working in 75 different boards and associations across the country, we thought it was about time they had a place to properly introduce themselves.
If you or someone you know deserves the same chance, email agents@storeys.com to apply.
THE DETAILS
Name: Susan Iriarte
Brokerage: Royal LePage Real Estate Services Ltd.
Personal Channels:LinkedIn | Website
Years of Experience: 9
Areas of focus: GTHA
THE INSIGHTS
Where did you grow up?
Pickering, ON.
What city or area do you primarily work in now?
Toronto, but with my specialization I have worked from Cambridge to New Castle. I work where my clients need me.
What made you want to become a commercial real estate agent?
I wanted to be challenged, I was tired of the mundane office desk job, and I wanted to pursue a career where I could not only be of service to others, but I wanted a career with meaning. I should also mention that, given woman are challenged by the pay gap, this industry is one of the few that enables a woman to make the same amount or more as her fellow male colleagues, it just takes hard work and patience.
What's the biggest challenge you see facing the commercial real estate industry today?
The ever-changing market seems to be the obvious answer, and the need to adapt and pivot. We’ve seen this through the pandemic, with what it has done to the office leasing market, and now new technology like AI, which could make real estate agents obsolete – hence the need adapt and pivot.
What’s the single best advice you have for property owners looking to lease or sell their commercial space?
Don’t wait for the market “to get better." The market is forever fluid and, depending on the space or property, you just never know who will meet you at your doorstep. If you truly want to lease or sell, present the space or property to the broader market; with the right marketing campaign and advisor you’ll see just how valuable — and of interest — your space or property is.
What’s the single best advice you have for property owners looking to lease or buy commercial property?
My specialization is focused on Places of Worship and Non-Profit Organizations, so my response may not be as relatable to everyone. But what I can say, for the groups I work with, is to have patience, and to really hone in on your true wants and needs, rather than having a long “wish list” and holding out until you find the right property. Given the challenges my groups face, such as zoning, parking requirements, financing, and lack of inventory on the marketplace, its best to identify exactly what is required for their use, and plan way ahead of time.
What’s the best thing a commercial real estate agent can invest in for their brand (a professional network, a solid LinkedIn strategy, etc.)?
A personal website. You need to have an online presence.
Who do you look up to in the industry and why?
Through the years I’ve looked up to fellow colleagues who have been practicing commercial real estate for many years. To this day, a few of them are still my mentors, and I truly value the knowledge and experience they have shared with me. Having someone in the industry who supports you and can give you guidance is invaluable.
Is there anything you wish people knew or understood about commercial real estate agents that you think they’re constantly getting wrong?
Commercial real estate agents differ from residential real estate agents, and vice versa. Commercial transactions are different than residential transactions. Right from the start, how space or property searches are conducted, with the use of specific commercial search databases (like Altus, Costar, Realnet, etc.). MLS and Realtor.ca, at times, are not enough to find what the client is looking for.
More importantly, the way commercial offers are drafted differs, from specific clauses that are presented, to the length of time for the conditional and closing period, to even working with specialized financial advisors and lawyers who also specialize in commercial trades. Collectively, these transactions take a team of advisors, in order to have a successful outcome for the client.
Tell us about your favourite (or most memorable) commercial deal.
There have been many, but one in particular from when I was three years into commercial real estate and a client — a pastor — asked me to help him find a specific property. It was for the use of a church, but he also wanted space for a daycare and retirement housing.
Given the challenges that each of these uses face, and their specific zoning requirements, I knew this was going to be a hard find.
With patience and dedication, and by working with a client who was prepared (they had done extensive homework to determine their finances, and had Board Members and congregant support ready), it was only a matter of time before the right property came available. With an extensive and active search plan in place, I was able to find the property that allowed for all three of his desired uses: church, daycare, and retirement living.
Seeing the joyous expressions on your client’s faces when they have secured the property they were destined to find — and that you had a big part in — is truly heartwarming, and that’s the reason why I jump out of bed each morning and get to work: to make more memories like that one. The pastor, to this day, still reaches out to me and gives praise.
What are the three words you hope your clients use to describe you?
Dedicated. Reliable. Available.
What’s your favourite thing to do outside of working in commercial real estate?
I enjoy going on walks, either along the beach down at the Bluffs, or by finding a forested trial at Rouge National Urban Park.
This interview may have been edited for both length and clarity. The views and opinions expressed in this article are those of the interviewee and do not necessarily reflect the views or positions of STOREYS.
