A Photographer Turned Real Estate Agent’s Success Story – Dave Lamarand
On this episode of The Closing Table, we sat down with Dave Lamarand!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Dave Lamarand…
The conversation began with a fill-in-the-blank icebreaker on the biggest risk in real estate, the most important thing to look for when buying a property, and more. Dave introduces himself as a dedicated dad. Beyond his role as a father, he is passionate about various hobbies and interests. He is a music enthusiast, enjoys indulging in movies and TV shows, and loves diving into topics related to space exploration, particularly SpaceX and rocket-related subjects. Additionally, he is also engaged in the video and photography industry.
Dave initially entered the real estate industry with a focus on branding, using the memorable name “Metro Detroit Dave.” Though he serves the entire area, his specialization lies in areas closer to Westland, Canton, and Livonia. The current market conditions in these regions closely mirror what they’ve experienced over the past four years. Bidding wars are prevalent, especially for move-in-ready and updated homes. Correct pricing is a critical factor in selling properties, as overpricing leads to a lack of bidding interest. Therefore, a well-priced property significantly increases the chances of attracting potential buyers.
One of the most untraditional ways Dave obtained a client involved a unique connection through a dating app. A person contacted him through the app and later connected on Facebook, although they didn’t interact much at first. Surprisingly, the potential client saw one of Dave’s real estate videos and decided to reach out, expressing their interest in buying a house. On the flip side, Dave received a lead through TikTok. Someone initially reached out to ask him house-related questions but then expressed an interest in meeting up for drinks on a date. While the initial intentions were not real estate-related, these unconventional encounters led to exciting opportunities in Dave’s real estate business.
Switching from a successful photography business to real estate can feel daunting. However, Dave’s background in photography profoundly influenced his approach to the real estate industry. Growing up in a blue-collar environment surrounded by builders and construction, Dave developed a natural affinity for houses and their significance as essential homes. It was while searching for homes as a photographer that his realtor suggested he consider becoming a real estate agent due to his potential in the field. Although intimidated at first, Dave recognized the similarities between running a photography business and a real estate venture. Many new agents fail to grasp the business aspect of real estate, assuming it’s merely a clock-punching job. Dave knew from his photography experience that building a successful career involved starting small, working hard, and leveraging skills like managing CRMs and having a marketing background.
Being a visual person, Dave understood the value of appealing listing photos. Although he could take his own pictures, he recognized that specialists like Windowsill could produce better quality photos and save him time to focus on his business. Understanding business management, financial control, and the importance of hard work were the keys to his success in both photography and real estate. He emphasizes the importance of the “grind” and shares an example of going above and beyond for a client with a limited budget. Despite the exhausting process of showing 30 houses a day, Dave’s commitment paid off, and the grateful client became a source of referrals and potential future business.
As for properties with intriguing histories or unusual backgrounds, Dave shares a fascinating story about his uncles’ investment in a severely damaged home in North End. Though the house was half burnt down and most people would avoid it, his uncles saw potential in the location and the structure. As Dave prepared to list the property, they discovered stories from the original homeowners about the house being next to a brothel during dark times in Detroit. The house had a dramatic history, and Dave’s uncles lovingly renovated it, preserving its original features while creating a beautiful home. The unique history generated significant interest from potential buyers, and the property became a remarkable and memorable selling experience for Dave and the fortunate buyer.
Building a successful team at The Modern Living Collective centers around collaboration rather than competition. Dave shares that his decision to become a realtor was driven by the desire for the freedom to run his business as he saw fit. Initially joining the Luxe Group, he appreciated the collaborative environment where agents freely shared ideas and no one considered themselves superior. This approach contributed significantly to Dave’s early career success. However, as the Luxe Group evolved, some key players had specific goals that didn’t align with the group’s direction. Consequently, they decided to establish The Modern Living Collective, an eXp team that maintains a group structure while offering agents the freedom to operate under the eXp banner independently or as part of a team. The primary focus of this collective is knowledge and resource sharing, aimed at providing better experiences for both clients and agents.
Although Dave hasn’t encountered numerous cases involving complex legal or zoning restrictions, he recalls one instance where his client faced such a situation. The client had acquired a second parcel of land adjacent to their property through a deal with the Detroit Land Bank, allowing them to purchase the land for a minimal fee. However, navigating the intricacies of the Detroit Land Bank proved more challenging than expected. The title company Dave initially worked with was unable to resolve the issue, prompting him to seek other options. After extensive research and communication with multiple title companies, Dave finally found one experienced in handling similar scenarios. Through their expertise and dedication, they successfully navigated the complexities of the situation, ensuring a successful transaction for his client.
Opening an office in Ann Arbor and establishing their brand within the Luxe Group is a thrilling venture for Dave and The Modern Living Collective. They chose Ann Arbor because there were no existing eXp offices in the area, and they recognized the potential to attract agents who valued the flexibility of remote work but also desired the option of having a physical office environment. This move represents an exciting and new endeavor for them. The team aims to stand out in the Ann Arbor real estate market by offering comprehensive training for new and existing agents, personalized branding packages, and an exceptional user experience for buyers and sellers.
One heartwarming story Dave shares is about a seller who had a deep emotional attachment to their home. Given the challenges of the current real estate market, this seller had been hesitant to let go of their property. After three years of searching, the client faced rejection on their initial offer but eventually found a home that suited them perfectly and closed the deal. This story exemplifies the dedication and perseverance needed to help clients navigate the emotional process of selling and moving on.
The conversation wraps up with Kevin asking Dave about his approach to owning a home given the current market conditions and available resources. Dave reveals a scarcity mindset, he acknowledges the supply and demand issues, with the demand for homes increasing rapidly while the supply struggles to keep up, exacerbated by factors like the COVID-19 pandemic and labor shortages in the construction industry. Dave’s advice to prospective homebuyers is to act decisively and do what it takes to secure a home. He believes waiting might not be advantageous, as time in the market holds greater importance than trying to time the market. The sooner a buyer can get into the market and start building equity, the better their long-term prospects will be.
Check out Dave Lamarand:
Facebook: https://www.facebook.com/dave.lamarand
Facebook Business Page: https://www.facebook.com/MetroDetroitDave
Instagram: https://www.instagram.com/metrodetroitdave/
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