Claudia Pardo and Jose Castillo
By Connie Adair
Knocking on a stranger’s door to talk about real estate can be life changing. Just ask Jose Castillo and Claudia Pardo, who met while they were students in Montreal. One day Castillo appeared at Pardo’s door, curious about how much she was paying in rent. They’ve been together since.
Pardo was an exchange student at McGill and Castillo was at Concordia. After graduating, “Jose moved back to the Dominican (and) I moved back to Columbia, where I’m originally from,” Pardo says. She moved to the Dominican in 2001, the same year real estate changed their lives again when they joined Re/Max Metropolitana. After an office split, they worked with Re/Max Lider.
In the Dominican, they enjoyed successful careers, racking up about 50 transactions a year. They were in the 100% Club since 2005 (commissions between $100,000 and $249,999) and were presented with the Platinum Club Award (commissions between $250,000 and $499,999) in 2010 as a team.
Things were going well, Pardo says, “but there’s no better time than when things are going well (to make a change.) You’re not pressured and you make the right decisions.”
They decided to move to Canada, where there would be more opportunities for education and culture for their growing family. They applied for residence and after ensuring their clients were in good hands, immigrated to Canada in 2011 when their daughter, Eva, was two and Pardo was four months pregnant with their son, Matias.
The couple originally thought of settling in Montreal, but on the suggestion of Bill Soteroff, then executive vice-president at Re/Max International, they visited Toronto and met with Re/Max Hallmark Realty brokers Ken McLachlan and Debra Bain.
The brokers and about 10 agents from the office met with the couple over a couple of days, filling them in about Toronto and the real estate industry. Pardo and Castillo were taken by the city, the brokers and their soon to be fellow agents.
“They are incredible individuals. I love how they are in life. They’re not afraid of hard work,” McLachlan says. “They are not afraid to do what it takes to reinvent themselves. They are loved and respected.”
The feeling is mutual – Pardo and Castillo say there was no need to look at any other brokers after they met McLachlan.
When they came to Canada, the couple had to get their Canadian real estate licences. In the Dominican Republic, you don’t have to have a licence, Castillo says. There’s a lack of formality in the Dominican. Anyone can decide in the morning to become an agent and put a sign on the lawn that afternoon. That creates a lot of competition. A property can be listed by numerous agents at the same time – it’s not uncommon to see three or four signs belonging to different agents on one lawn. There is no MLS, no ruling institution and no organized real estate board, Pardo says.
In Canada, “It was a dramatic process to study and get through exams. It took two or three months. It was traumatic to study, learn about the culture and get to know about real estate. And we were expecting a second baby at the same time.”
The couple got their licences in July 2012 and started in the business last September. Castillo says they enjoy the structured real estate industry in Canada, and having information, such as the MLS, at their fingertips.
Castillo and Pardo reach out to the Spanish-speaking population and newcomers to the city. “They can relate to what we’ve been though and we can help them with things like their driver’s licences, to get a feel for the city and to get their bearings,” Castillo says.
However they reach out to all potential clients through the usual prospecting methods, such as cold calling, regardless of their backgrounds. Castillo and Pardo say they strive to be open and up front, building relationships and offering as much information as possible to clients. The bottom line is that people appreciate service-added value, they say.
Castillo and Pardo are working with first-time buyers and condos, a product they feel comfortable with. They’re still getting used to “older houses,” they say. “In the Dominican Republic, a 10-year-old property is old. We have to get to feel comfortable with 100-year-old properties here” and all that goes with an older property.
Condominiums are also in a price range they’re more used to dealing in. The average sale price in Santa Domingo, where they were working, is $100,000 to $150,000. They also did a lot of work with rentals, which in the Dominican Republic, is a good source of income, Pardo says. They are using leases as a way to learn about the Canadian real estate market.
Tips they can offer to agents new to the country? Do your homework. Get a feel for the city.
Make appointments at brokerages and go with one that will help you grow. It helps to have brokers who are available for you 24/7.
Be patient. You’re starting from zero and you can’t get frustrated. Your business will grow.
Studying and books don’t prepare you to go out into the real estate world. You need a coach, someone to provide insight into what they do is key. Experienced agents have helped them understand things, they say.
Being new to the city offers an advantage, Castillo says. “We offer a fresh perspective and an eagerness to do things.”
