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The auction of Vollebak Island off the coast of Nova Scotia and Sterling Manor in British Columbia’s Okanagan Valley marks the first time that Canadian real estate will be presented for live auction at Sotheby’s New York, as part of Sotheby’s bi-annual Luxury Week sales series.

According to Don Kottick, president and CEO of Sotheby’s International Realty Canada, the presentation of Vollebak Island and Sterling Manor for live bidding at Sotheby’s New York is a historic first for Canadian real estate. He believes this move will put Canada’s luxury real estate opportunities on a prestigious global stage. 

Kottick adds, “This upcoming live auction underscores the fact that Canada is now well-established as one of the most sought-after destinations for real estate on the global luxury market.”

Vollebak Island, N.S.

Vollebak Island, conceptualized by the globally renowned architecture firm Bjarke Ingels Group (BIG), will be auctioned by Sotheby’s Concierge Auctions in collaboration with Sotheby’s International Realty Canada listing agent Angie Bryant and Scott Bryant, Regional Director, Atlantic Canada.

 The island, with an estimated value of $5 million to $10 million USD, offers a self-sufficient and diverse ecosystem featuring dense forests and over 11 acres of land. The successful bidder will also gain exclusive rights to Ingels’ design vision, as planning permission for those designs is included.

Chad Roffers, President of Sotheby’s Concierge Auctions, expresses excitement about offering Vollebak Island at auction. 

“This once-in-a-lifetime property exemplifies one of the most experiential real estate offerings in the world, and as such, we look forward to competitive interest from bidders all over the world,” Roffers says.

Vollebak Island, N.S. Source: Sotheby’s International Realty Canada

Sterling Manor, Penticton, B.C.

Sterling Manor, a modern estate located in British Columbia’s Okanagan Valley, will also be up for auction with no reserve through Sotheby’s Concierge Auctions in cooperation with Natalie Benedet and Scott Ross of Sotheby’s International Realty Canada. 

The property, listed for $15.5 million CAD, showcases meticulous craftsmanship, extraordinary finishes, and a seamless outdoor entertaining experience with several unique exterior spaces overlooking the Okanagan.

Sterling Manor, Penticton, B.C. Source: Sotheby’s International Realty Canada

Both Vollebak Island and Sterling Manor will be on view from Jun. 1 to Jun. 8 during Sotheby’s Luxury Week. Bidding for the properties will open online on Jun. 8 and will culminate with live bidding on Jun. 14 at Sotheby’s New York.

“Luxury real estate auctions are piquing interest in the high-end real estate market, where qualified buyers can be rare and exceptionally discerning,” says Kottick. “We believe that our partnership with Sotheby’s Concierge Auctions can be a meaningful option for discerning clientele and agents, particularly for truly bespoke properties that may benefit from the unique exposure that this specific platform offers.”

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According to Sotheby’s International Realty Canada’s Top Tier Real Estate: Fall 2022 State of Luxury Report, Canada’s most sought-after postal codes saw muted sales activity over the summer months and into the initial weeks of fall, with fewer homes listed for sale from Jul. 1 to Aug. 31.

“The market is still absorbing the effects of rapid-fire interest rate hikes, as well as changes in the domestic and global economic landscape, and real estate sellers and buyers are taking a step back to strategize,” says Don Kottick, president and CEO of Sotheby’s International Realty Canada, in a press release.

“It is critical to note, however, that the primary challenge within major metropolitan housing markets, particularly in Toronto and Vancouver, is a chronic undersupply of housing,” Kottick adds. “Demand-side policies and taxes, including bans and taxes on foreign buyers, will offer little benefit while creating unintended consequences when Canada is striving to attract and retain people with desperately needed skills and talent.”

According to Kottick, prices are stabilizing, and prospective buyers and investors are no longer willing to pay bullish prices.Properties priced correctly for current market conditions are seeing activity and sales; those priced too ambitiously are languishing on the market.

Regional highlights

The Greater Toronto Area:

• Residential sales over $4 million fell 42 per cent year-over-year.
• Three properties sold for more than $10 million on MLS, compared to six units the previous summer.
• Overall, residential sales over $1 million declined 39 per cent in the summer of 2022.
• Preliminary fall data foreshadows a tempered market ahead, as luxury sales over $4 million in the GTA were down 63 per cent in September year-over-year between Sept. 1 to 30.
• The $10 million-plus market, which saw three properties sold last September, remained quiet on MLS.
• Overall residential sales over $1 million saw an annual decline of 52 per cent in September.

Vancouver

• From Jul. 1 to Aug. 31, luxury residential sales over $4 million fell 51 per cent from the record summer of 2021.
• Two properties sold over $10 million on MLS compared to one sold in the summer months of last year.
• $1 million-plus residential sales were down 37 per cent year-over-year overall during this time.
• Luxury sales in September signal a return to moderated levels of market activity, as residential sales over $4 million receded 58 per cent from September 2021 levels
• Sales over $1 million declined 70 per cent year-over-year.
• The city’s ultra-luxury $10 million-plus market, however, remained active, with two sales recorded on MLS between Sept.1 and 30 compared to one property sold in this price range during the same period last year.

Montreal

• $4 million-plus residential real estate market, which saw sales volume increase 71 per cent year-over-year in the first half of 2022 to new highs, gradually tapered to balanced conditions in the third quarter of 2022.
• From Jul. 1 to Aug. 31, $4 million-plus residential sales remained relatively stable with a nominal decline to eight transactions compared to nine in the previous summer levels.
• Sales over $1 million were down 26 per cent year-over-year.
• Luxury sales in the city in September reflect a market coming into balance with two properties sold over $4 million between Sept. 1 and 30 compared to six sold in the same month last year.
• Overall, September sales of over $1 million were down 39 per cent.

Calgary

• Residential sales over $1 million remained stable over the summer with a mild 12 per cent year-over-year contraction in sales volume between Jul. 1 and Aug. 31.
• One property sold for more than $4 million over the summer, on par with the summer of 2021.
• In September, sales over $1 million remained largely comparable with September 2021 levels, with sales tightening five per cent.

REM Editorial Team

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The residence is listed for $3.599 million, definitely the high end in Sudbury, where there’s not much listed for over $3 million, he says.

The home, which was custom built in the 1990s by its current owners, is set on a property with 125 feet of frontage on Lake Ramsey.

Photography and footage was done last summer/fall while the leaves were green to capture the home and its beautiful grounds at their best.

Martinus Geleynse

The property is being advertised on various digital sites, through Sotheby’s network and a “significant digital campaign,” says Geleynse, who was introduced to the owners by people in Hamilton. The sellers are retiring and planning to move to southern Ontario to be closer to their children and grandchildren. They asked him to sell their Sudbury house.

For the type of house and price range, they wanted someone “from the south” and with access to a global network, says Geleynse, a Hamilton resident.

There is no Sotheby’s office in Sudbury so he spoke to his broker, who gave him the go-ahead to take the listing.

He travelled to Sudbury multiple times, staying several days each visit. He spoke to the locals, stayed at an area hotel and drove around to get to know the area. (He is also working with a local agent so he has “boots on the ground”.)

Geleynse, always willing to roll up his sleeves, helped to get the property ready, patching holes, pressure washing and doing whatever else was necessary to facilitate the sale. Luckily, a company moving truck was going through Sudbury at the same time and some of the sellers’ possessions were moved to Hamilton.

The more than one-acre property is a few minutes walk from the high-tech and impressive Health Sciences North campus (a bonus for the doctors/homeowners) yet feels like it’s in the middle of cottage country. It’s also a five-minute drive from downtown Sudbury.

It offers the best of rural waterfront living (with boat and floatplane access) with the convenience of an urban location, he says. “The value it offers is unique for the discerning buyer.”

Overlooking the lake, near the shoreline, is a hand-built limestone cabana complete with fireplace, a sauna and built-in seating.

Lake Ramsey is a float plane lake, so its new owners, who will likely be from the Greater Toronto and Hamilton Area (GTHA) given the price point, can travel by float plane and pull up at the back door, he says.

Potential buyers include pro sports athletes (another local mansion was brought by an NHL star from Sudbury) or an affluent local, most likely employed at the Heath Sciences North complex.

During the pandemic, many people have been migrating to smaller cities around the province. The majority of people are not looking to go this far but Sudbury has seen some growth from the GTHA.

The new owners of this home will be treated to high-end living. Geleynse says the two doctors, as one might suspect, paid great attention to detail and did a meticulous job ensuring the home would be the perfect backdrop for everyday living and grand entertaining. “Creating a liveable family home was key.”

They hand selected materials, from sleek marble to eight-inch oak flooring laid in a herringbone pattern. Geleynse says, “They had a whole team of installers flown in to complete (the floor). It is really incredible.”

The common spaces are impressive but the kitchen and den are intimate.

Thirteen-foot ceilings are dripping with antique chandeliers and large windows offer lake views. The common spaces are impressive but the kitchen and den are intimate. There is a panelled office, a timeless foyer and five spacious bedrooms (three with ensuite bathrooms). The huge primary suite offers sweeping sunrise-facing lake views. Overlooking the lake, near the shoreline, is a hand-built limestone cabana complete with fireplace, a sauna and built-in seating.

“The owners also custom built a bunkie with a fireplace, sauna and sitting area. It was designed after a bunkie they saw on the cover of a book about Provence, France. It is constructed with huge beams from British Columbia and Manitoulin limestone,” Geleynse says.

He says it’s been a place for big family gatherings over the years. It’s well loved but since it was built with high-quality materials, no renovations are required. “The finishes will be as beautiful 100 years from now.”

A video link to view the home is here.

• This article was corrected from an earlier version to say that the property was first listed in October.

Connie Adair

Connie Adair is a contributing writer for REM.

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Even though the property belongs to a friend, St-Laurent competed with three other agents to list the Hollywood-blockbuster-worthy resort on the shores of Lac des Deux-Montagnes in Oka, less than an hour west of Montreal.

St-Laurent of Engel & Völkers Montreal Rive-Nord in Montreal refers to the spectacular waterfront property as a resort. With its infinity pool set into a commercial-quality wharf, sandy beaches and luxury residence with floor-to-ceiling glass, it is reminiscent of what she is used to seeing in Cancun.

She says the depth of the water off the dock accommodates large yachts and pleasure boats. The landscaped 2.55-acre property also has a 20-person spa with a waterfall, a patio for hammocks, volleyball courts and an outdoor bar/kitchen.

For those who arrive by land rather than water, entry is through a gate that opens on to a long paved driveway that ensures both security and privacy, she says.

The Hollywood-blockbuster-worthy resort on the shores of Lac des Deux-Montagnes in Oka, less than an hour west of Montreal.

The 3,747-square-foot residence has a host of luxurious features, including 14-foot ceilings finished with exotic wood, walls of glass, a double-sided fireplace between the living and dining rooms, a chef’s kitchen and four bedrooms, each with a walk-in closet, a private bathroom and water views. It also has a games room, a cinema and a wine cellar – features that come together to offer fun space for all ages.

In her marketing material, St-Laurent says, “The world is changing and the new realities show us the importance of living in a house where quality of life has been put at the heart of the project.”

The whole package is suited to those looking for ultra luxury, dramatic digs for their family in a beautiful Canadian setting.

The whole package is suited to those looking for ultra luxury, dramatic digs for their family in a beautiful Canadian setting. International buyers are taking note, with one potential buyer flying in soon to view the residence, says St-Laurent, who has listed the property with Jean-Marc Vicino, also with Engel & Völkers Montreal Rive-Nord.

“In terms of what is available on the market right now, the average home price of a single-family dwelling in Oka ranges from $400,000 to $700,000. A couple of specific neighbourhoods have houses in the $1 million to $2 million range,” St-Laurent says. What makes the Girouard Street property unique is its waterfront location, the size of the property and its resort-like amenities, she says. “On the shores of the Lake of Two Mountains, this private domain is the only property of its kind of the waterfront and is attracting a lot of foreign clients,” she says.

“I wouldn’t say that people are discovering Oka specifically, but since the pandemic began, homeowners are questioning their lifestyle and spaces, and several buyers are very interested in cottage-like properties away from the city. Naturally, Oka falls in this category because it is 45 minutes away from downtown Montreal.”

St-Laurent is marketing the property through the Engel & Völkers international network, as well as her social media. Lifestyle videos and photos set the scene for potential buyers. A four-page brochure is part of a targeted mailing campaign prepared by the award-wining agent (2020 Diamond Elite and 2021 Chairman’s Circle).

St-Laurent says that although the treatment may seem special to the multi-million dollar property, her secret is treating all of her properties, regardless of price point, with the same quality service and marketing.

Prior to her 20-year real estate career. St-Laurent was a ballet dancer with Les Grands Ballets Canadian de Montreal. Although she enjoyed dancing, she says it was hard to make enough to pay the bills. She says after a career as a professional ballerina, she was introduced to real estate by a friend who was a developer. That was 20 years ago. She was hooked on real estate and got her licence in 2001. She has since become one of the top brokers in Quebec.

In 2016, St-Laurent was hired to host a real estate show with Patrice Groleau (owner of the Quebec banner of Engel & Völkers) on a local French channel. She says Groleau talked her into moving into the luxury real estate market and the experience has been “incredible.” She joined Engel & Völkers in 2019 when the Montreal office opened.

Connie Adair

Connie Adair is a contributing writer for REM.

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Liambas, who is with Re/Max Noblecorp in Vaughan, Ont. is happy to share his secrets, and there are many. He says it’s about always being professional, focusing on his brand and being different – he thinks outside the box, but leaves a box (more about that later) – the all-important network/sphere of influence and coming up with a super marketing plan that’s customized for each property.

Steven Liambas

“One hundred and one days on the market is amazing for a property like this, which can take two or three years to sell,” he says. The reason for the quicker than usual sale? “It’s the nicest showing property in Ontario. It’s gorgeous.”

The eight-plus-one-bedroom, 10-bathroom waterfront home is in a pocket known as Millionaires Row in Oro-Medonte on the shore of Lake Simcoe. The residence offers 19,000 square feet of luxuriously appointed and stylish living space that includes everything a family could want, down to a home theatre, a wrapping room and a hockey rink. Exterior features include an infinity pool, a tennis court, a golf green, docks and a boathouse.

The marketing specialist’s strategy, which took three months to create, was “crazy,” just what the client asked for, Liambas says. “I decided I’d do anything to sell the property in record time. I didn’t put a budget to it.”

He spent those months figuring out which avenues, which publications and which particular demographic of affluent professionals he would target.

Liambas used print, digital and social media. He bought covers for magazines distributed on private jets and to professional athletes, and targeted everyone from new wealth crypto currency individuals to old-money retirees.

The magazine covers resulted in international inquiries, he says. “Print is important for a property like this.”

He also advertised in the Globe and Mail, the New York Times and the Wall Street Journal. His clients, who originally bought the house in 2010, saw it advertised in the Globe. “I wanted to get it into the newspaper and bring it full circle.”

His $80,000 marketing campaign also included digital billboards along Toronto’s Gardiner Expressway, in the Leslie and Eglinton neighbourhood, and “a few affluent pockets in Vaughan and in Oro-Medonte where the house is located.”

It was also put on 97 international real estate websites.

“I got a lot of exposure through all types of media – 12 million unique impressions,” he says.

Liambas didn’t have to compete for the listing. He says he had worked with this client, who owns multiple properties, for a few years.

The client reached out to Liambas based on their past relationship and his track record. “She knew I’d give him full 100-per-cent attention and marketing. She wanted crazy marketing.”

Part of that crazy marketing included sleeping over at the property and spending two days there with a videographer to create a 10-minute video, which was posted on YouTube. That’s where the international buyers who purchased the property found out about it, he says. “They watched the video many times, fell in love with it and wanted to view it.”

Because of the time during the pandemic (two-week quarantines were still required by international travellers) not all interested parties came to view it but there were between 12 and 18 showings in three months.

Liambas, who has a marketing degree, says one of the reasons he loves the real estate business is because he loves marketing.

He says another secret to selling luxury is to stand out and be different. Think outside the box and leave a box. Each of his clients receives a box containing the listing presentation, sellers and buyers guides and a personalized item, such as a hoodie (branded of course) or a bottle of wine. “People love touch items,” he says.

Prior to becoming an agent, he worked in the sports nutrition business, where he built up a network of professional athletes. He also had a corporate job and made many contacts in that world.

Liambas, son of an Italian mother and a Greek father, grew up in Vaughan then attended St. Michael’s College in Toronto, where he began building his network. He says he got a corporate job through connections, but he soon discovered the 9 to 5 routine wasn’t for him. He says he prefers to set his own schedule, be his own boss and doesn’t want a salary with a ceiling. What better way to satisfy those wants and needs than by becoming a real estate agent, he says.

His business is now based on referrals and past clients. He farms in Toronto and Vaughan, including Kleinburg, Nobleton and King City.

He got his broker’s licence 2.5 years into his career. “Being a broker is like getting your Masters,” he says. It provides further education. “Being a broker means more responsibility. And it’s a way to differentiate yourself from others.”

Another way to stand out is with awards – last year he was one of Re/Max’s Top 30 Under 30.

He says he’s still trying to attract more homes like The Oro-Medonte property. “I’ve been vetted for the luxury market.” He usually works in the $3 million to $6 million range but already has interviews for three homes in Kleinburg priced “beyond $10 million”.

Connie Adair

Connie Adair is a contributing writer for REM.

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Asked why this might be, Richard Brinkley, the company’s senior vice-president of market development for Canada, laughs and replies, “I think it’s due to the Canadian mindset…and me! Canadians have a respect and affection for things European – perhaps more so than Americans.”

Engel & Völkers began making inroads in North America less than a decade ago. Since 2014 – year one of the company opening locations in Canada – this market continues to exceed expectations, says Brinkley, whose office is based in Toronto.

There’s a European flavour to the entire global enterprise, highlighted by its chic boutique-style brokerages, which are called “shops” in Engel & Völkers’ Euro-speak, while its agents are known as “advisors.”

The focus is on premium service, says Brinkley, and Engel & Völkers – an industry leader in creating video brochures and professional white board presentations for clients – supports its sales reps with an array of quality business services, marketing programs and platforms.

When scouting for franchisees, “We’re looking for business-minded professionals who want to give clients a personalized, bespoke experience,” Brinkley says.

It doesn’t hurt if they also already have experience in high-end markets.

“We look for people who are doing well and we make them better. It’s like putting their business on steroids. We can take them into a market space they maybe couldn’t reach before,” says Brinkley.

He recalls that when the company entered the North American market, an initial hurdle was that many people here hadn’t heard of Engel & Völkers. “But the wealthy ones all know us.”

The company scored key franchises in Canada, including Intrawest in Mt. Tremblant, and Whistler broker Maggi Thornhill, queen bee of that leading four-season resort. The latter is the biggest franchisee to join the brand worldwide, a major coup.

Previously Thornhill told REM, “An independent can’t possibly provide the far-reaching presence and phenomenal international marketing that Engel & Völkers have. So many tools. It’s hard for others to compete.”

All Engel & Völkers locations have a strictly controlled design identity, which Brinkley describes as akin to “Louis Vuitton or Chanel” boutiques. The shop concept is a “rock star” of the brand, says Brinkley. “Whether you go to Naples, Florida or Naples, Italy, our unique shop concept differentiates us…I think it’s an advantage. We’re not a big box store.”

Before joining Engel & Völkers to spearhead its Canadian launch, Brinkley was the director of business development for Sutton Group. He entered the real estate business in 1988, leaving a high-level career in industrial chemical sales. He somehow managed to avoid the real estate field’s standard slow start and hit the ground running, largely thanks to the telephone directory’s yellow pages, wherein he sourced doctors, lawyers and other affluent professionals and then snail-mailed them personally signed marketing letters.

“All of a sudden one doctor had me sell his house and then referred me to a friend,” Brinkley says. Things took off from there and he became a luxury Realtor almost overnight.

As time ticked along, his career swung into brand ownership and management, enabling him to work and live in luxury markets in locales such as Costa Rica, Mexico and West Palm Beach, Fla. “I’ve always been willing to take a chance or to experiment, been willing to move.”

Surfing had long been on his bucket list, so when he moved to Costa Rico he hired an instructor who was the coach for the national team. “It’s a very meditative sport. You can get into a trance out on the water,” he says.

He’s less enthusiastic about surfing now that he’s back in Canada. “I like warm water.”

In his experience, “Marketing to the rich is different.” The clientele expect a much higher level of professionalism and service. “There are a lot more steps in marketing a luxury property,” says Brinkley.

Having been in the industry for almost 35 years, he’s witnessed the internet become a game changer, opening up new geographical markets to agents. “You don’t have to specialize in a certain geographical area now,” he says. He’s still a big believer in the benefits of using a local agent though.

In his opinion, the key to being successful in the evolving marketplace is “to specialize – whether in condos, farms, luxury properties,” or whatever. “That differentiates you,” says Brinkley.

He expects housing supply to continue to be a huge issue driving up prices. (“Municipalities are dragging their heels on this issue.”) And he’s confident that the luxury market will continue to be strong, particularly as buyers in this segment tend to have secure incomes and not to be as affected by adverse market conditions. As well, there will be continuing demand to buy properties out of the city, Brinkley says.

One more prediction: he wouldn’t be surprised if the current zeal for real estate sales teams eventually fizzles out.

What he doesn’t see dying off is the appeal of the Canadian lifestyle.

“I used to be one of those who always complained about the Canadian weather,” he says. “But after living elsewhere, I truly appreciate Canada, and I think our culture is second to none. We have a very ethical culture. Everyone wants to be the best they can be.”

Susan Doran

Susan Doran is a Toronto-based freelance writer who has been contributing to REM since its very first issue.

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