One of the country’s most prolific luxury brokers, Joseph Montanaro, has sold over $1.7 billion in real estate since 2008 and represented some of the most prominent buyers and sellers of high-end homes across the city, and beyond.
One of the country’s most prolific luxury brokers, Joseph Montanaro, has sold over $1.7 billion in real estate since 2008 and represented some of the most prominent buyers and sellers of high-end homes across the city, and beyond.
As he nears the 15-year mark in the industry, here’s what he has to say about real estate, and more, in 2022.
Q: What does it mean to be a luxury broker?
Obviously, the term luxury is associated with price, and I do sell expensive homes, but for me, luxury is about more than just price. Buyers purchasing luxury goods have certain expectations vis-à-vis the brand they’re buying with. The Joseph Montanaro brand is about exceptional service; whether on the selling or buying side.
Q: How is the market doing?
The real estate market has been very active over the last several years and seems to have exploded over the past two, which I think came as a surprise to many. I recently sold a home in Westmount for $18.5 million that needs a substantial renovation. Who would have thought, at the beginning of the pandemic, that prices would be reaching new heights?
Q: How do you explain it?
The combination of a healthy economy, rock-bottom interest rates and limited supply. It’s the perfect storm.
Q: How has the luxury real estate market changed in Montreal, over the years?
It’s no secret that the city’s real estate market was depressed for a number of years, but thanks to a strong economy and stable political climate, Montrealers are more confident than ever investing in their city. As a result, the market has gained a lot of traction in the last decade. That being said, we are well below the price levels seen in Toronto and Vancouver. There’s still plenty of room for growth.
Q: Céline Dion, P.K. Subban, Max Pacioretty, François Legault… that’s quite an impressive list of clients. What is the highlight of your career, so far?
Q: You’ve sold over $1.7 billion in real estate since 2008. What is the secret to your success?
I’m not sure there is a secret to success. I think it’s a combination of likeability, hard work, listening to clients’ needs and having them trust you to help them make the right decisions. I think it all comes down to performance, though, in the end. I constantly remind my team that any broker is only as good as his or her last sale.
Q: Your background as an architect must be a huge asset?
It truly is. My design and construction background are perfect complements to the work I do every day. Furthermore, the rigor that went into my schooling followed by my work experience catering to high-end clients really prepared me for the requirements of being a top broker.
Q: Even though you’re a busy broker, what do you enjoy doing during your time off?
I work an insane number of hours and must admit that I do not have a lot of spare time, but I’m fortunate because I absolutely love what I do, so it doesn’t feel like work. But I do take care of my mental and physical health. I work out with my trainer three times a week and practice mindfulness and yoga. When I do have some spare time, I enjoy travelling and spending time at my lake house in Esterel. It’s a little piece of paradise where I can enjoy nature.
Q: What advice do you have for young brokers?
Work hard; there’s no way around it. Also, know yourself. There’s good money to be made in real estate, but you have to stay true to your values, never let a commission cloud your judgement. Finally, forgive yourself. I am definitely my harshest critic when deals don’t materialize, but after close to 15 years, I’ve learned there is always another deal around the corner.
To find out more about Joseph Montanaro, view his listings or get in contact with the broker, visit josephmontanaro.com.
This story was created by Content Works, Postmedia’s commercial content division, on behalf of Joseph Montanaro Real Estate Broker.