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Broker Spotlight: Alexandra Axsen
Name: Alexandra Axsen
Title: Managing partner
Experience: 17 years of experience selling residential, commercial and development properties.
Location: Kelowna, British Columbia, Canada
Brokerage name: The Agency Kelowna
Team size: 5
Transaction sides: 98
Sales volume: $100 million
Awards: Top 10 Best of Kelowna Realtor, Kelowna Now
Named Top 40 Under 40, Kelowna Chamber of Commerce
1. What is the number one rule in real estate investing?
Most people repeat the famous mantra “location, location, location” as the number one rule in real estate investment, which is wrong. While location is extremely important in real estate investing, it is not the only factor you need to take into consideration. Timing is number one.
Real estate runs in cycles. You need to be able to time the cycle correctly if you are going to invest in real estate. Number two is development potential. The location is number three. If you correctly combine timing, development potential and location you will rise to elite levels in the glamourous world of real estate investing.
2. How did you get your start in real estate?
My ex-husband originally talked me into getting into real estate. His best friend was a successful Realtor in Vancouver and he thought I would be good at it. After obtaining my real estate trading license, I worked as a Realtor in Whistler, British Columbia, before moving to Kelowna, British Columbia.
Two years after I obtained my real estate license I went back to the Saunders School of Business at the University of British Columbia and obtained my managing broker’s license. I opened my own boutique brokerage in Kelowna in 2011. In 2023, I joined The Agency family as their new managing partner of The Agency’s new office in Kelowna.
3. How did you choose your current brokerage?
I chose The Agency because they have created an aspirational lifestyle brand that gets people talking, is strategically scalable, demands brand loyalty and owns the luxury market.
4. What do you wish more people knew about working in real estate?
I wish more people knew how demanding it is to work in real estate. It does not take much effort to list a property and stick up a for sale sign, but it does take an exceptional amount of effort to become an educated expert in the field of real estate.
For 99 percent of the population, buying a home will be the most expensive purchase they will ever make in their lives. Guiding someone through that process should not be taken lightly. Real estate agents have an enormous responsibility to protect their client’s interests.
5. What’s something you know now that you wish you knew when you started?
I wish I knew when I started how important it is to take detailed notes and save as much information as possible. With all the cloud systems available, you have no excuse not to keep thorough records. You never know when you will need it in the future.
This week I had an urgent call from a real estate agent representing a buyer who desperately needed information on a septic system before his client had to remove conditions that same day. The seller had no idea where the septic field was located.
I originally sold the property 14 years ago. I pulled up my online file from 14 years ago which had a complete set of drawings on the septic system and field that I was able to provide. You would be surprised how little some homeowners know about their own homes. Keep everything: Home inspection reports, city files, drawings, permits, etc.
6. Tell us about a high point in your brokerage career
A high point in my brokerage career was being named managing partner for The Agency Kelowna. The Agency is known for placing quality over quantity. It is a unique kind of real estate company, defined by its strength of character, rebellious spirit and passion for reinvention. To have The Agency entrust me to be a steward of their brand and culture is such an honor and privilege for me.
7. What’s your top prediction for 2023?
Right now, timing is everything. It is not a matter of if real estate prices are going to increase but rather a matter of when. Data is suggesting a recession will be very likely in the fourth quarter of 2023 or in early 2024. Real estate prices dip during a recession which is when you want to buy. Recessions are followed by hard asset inflation (real estate is a hard asset). Hard assets will rise. Period. Timing is the tricky part, which is why you want to work with an educated real estate professional.
8. Tell us about an epic fail you’ve experienced
My most epic fail was when an out-of-town client asked me to clean out his deceased mother’s home that was closing soon. He could not make it out to do it himself. Via FaceTime, my client pointed out everything in the house to keep. Everything not pointed out was to be thrown in the massive dumpster that had been rented in the driveway or donated.
My client forgot to point out the urn with his mother’s ashes as an item to “keep.”
That was not a good day of dumpster diving for me.
9. What’s your top tip for freshly licensed brokers?
My top tip for freshly licensed brokers is to find a seasoned veteran to mentor you. Having a professional provide you with real-time feedback and advice, and help you define and reach your goals, is invaluable.
10. Tell us about 2 people you admire
1) Mauricio Umansky, CEO and founder of The Agency. He had the courage to follow his intuition, propelling him to create an industry-disrupting model that redefined the real estate business with its unique culture rooted in the core philosophy of collaboration.
2) My son, Ryan. He was one year old when I started my first real estate company as a single mother. He was there from the ground up witnessing the sleepless nights, the financial worrying and the demanding schedules. Instead of complaining, he developed incredible acute business acumen.
I remember having to take him with me to show houses for three hours straight when he was six years old. He sat in the backseat of my car quietly drawing. I kept apologizing to him for how long it was taking. He was so well-behaved.
At the end of the day, without saying a word, Ryan handed me his “drawing.” It was an invoice for $20 for his time with instructions to take him to Toys R Us. Later I told the story to a friend. She laughed and asked what I did. I told her I paid the bill. I always pay my bills.
Ryan has taught me to be cooperative and help others but at the end of the day, know your worth.
What makes a good leader?
There are many qualities that make a good leader: integrity, respect, empathy, gratitude, and open-mindedness are a few that come to mind. A good leader leads by example. They are someone everyone can depend on. They put others’ needs first. They provide mentorship, support, and inspiration while being transparent.
What’s one thing you wish every agent knew?
I wish every agent knew how to achieve win-win scenarios. Relationship-building is critical in real estate. As an agent, you need to be able to pick up the phone and call the agent on the other end of the deal to negotiate numerous details.
When you create win-lose scenarios, you destroy relationships. Nobody wants to work with someone whose intention is to take advantage of them. Agents who think they are only doing a good job for their client if the other side is losing, are doing a huge disservice to their clients. Please refer to The Agency’s #1 Rule: No Assholes. It’s simple and it’s true.
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