Lauren Doughty joined CBRE, a commercial real estate company, 11 years ago as a summer student. She had just graduated from the University of Guelph and was planning on travelling abroad, but she abandoned her post-graduation travel plans when she was offered the job, deciding to test out the industry to “see if she liked it.” Since then, she got her real estate license and moved up within the same team — from summer marketing assistant to senior partner.
“Every day is completely different,” she said. “That’s what I love most about being part of land services group. Experiencing new projects and new challenges.”
As Vice-President of CBRE’s Land Services Group, Doughty represents the Toronto market for land services, focusing on selling development land. She has transacted over $1 billion in land dispositions, focusing on the GTHA with clients like Infrastructure Ontario and the Toronto Lands Corporation.
Doughty’s success can be attributed to how she handles her client relations. She says it’s important to think long-term and not push too hard to land the deal. It’s all about making the client feel like they have your undivided attention.
“I think it’s more than just a deal,” she said. “You can’t be short sighted to try and get a deal for your sake, it’s about the client and the best decision for them. In real estate these transactions are really relationships, so that when the next deal comes there is no one else that they would rather go to.”
Some of the big projects Doughty has worked on include a transaction at Bloor and Dufferin on behalf of Toronto Lands Corporation and the Toronto District School Board (TDSB). One of the things she loves about working with organizations like the TDSB is that it is community driven. The process involves meeting with city planners, various consultants, and speaking with the residents who live around the area about what they would like to see in the future development.
“I think what’s so rewarding about what I do — selling these properties and seeing what’s built on them and how it benefits the community,” she said. “Selling land for hospitals or run down buildings that are being torn down and turning it into something much more useful and vibrant in the community is what I really enjoy about it.”
Doughty spends a lot of time studying the housing market and says the numbers being reported in the media don’t accurately represent what’s happening in Toronto. The problem isn’t with the “housing bubble,” she says. It’s with supply and government oversight.
“Our inventory for new homes has dwindled down because there is so little supply and every new project that comes in gets sold quickly. When something does come in, it gets picked up really quickly.”
To compensate for the lack of supply, CBRE is looking at selling sites outside of the 416 areas like Kitchener, Waterloo, and Barrie — anywhere that is inside an urban boundaries and accessible to Go Transit so that those commuting into the downtown core of Toronto can still afford a home.
“When I started working here in 2006, we had listings out in geographical areas I hadn’t even heard of. Over the years we really focused on selling sites in the 416/905 municipalities. As of recently we have started working across the Greater Golden Horseshoe because there is so little supply of developable land within the GTA. People need to move out of this region for affordability reasons. When, in Markham, a townhouse now costs $1.5 million – homebuyers need to go to these out- of-golden-horseshoe areas.”
Her biggest concern is the new Ontario Municipal Board reforms and how that will affect zoning for sites that are in the process of getting approved.
In her free time, Doughty tried to volunteer her time with numerous organizations benefiting women. She just finished her term as Program Co-Chair with the Urban Land Institute and previously volunteered with Toronto CREW (Commercial Real Estate Women). Part of CREW’s mentorship is a program called Real Jobs, which allows high school students to learn more about careers in commercial real estate.
“At that age, I remember not knowing what to do. I would love to see more women get into real estate, whether its development or brokerage.”
Doughty still loves to travel — her latest adventure was three weeks in Asia — and spending time at the cottage. She is currently renovating her own house with her fiancé.