Larry Weltman is a Toronto based commission advance specialist known for his deep expertise in the real estate sales sector and a keen advocate for the integration of technology in this market. With a Bachelor of Accountancy from the University of Witwatersrand, South Africa, Larry moved to Canada in 1986, bringing with him a rich cultural perspective and a drive for innovation.
His career is marked by significant achievements in optimizing operational efficiencies and enhancing customer satisfaction through strategic marketing and customer service initiatives. An avid sports fan, particularly of European soccer and Liverpool FC, Larry seamlessly blends his passion for sports with a professional acumen that has made him leader in the commission advance industry. He has a strong passion for technology within his industry and how this can be embraced to better serve clients.
How did you get started in this business?
I began my journey in finance after immigrating to Canada from South Africa in 1986, armed with a Bachelor of Accountancy from the University of Witwatersrand. My interest in real estate finance grew from a desire to blend my financial expertise with a sector that impacts people’s lives directly.
How do you make money?
Revenue primarily comes from providing commission advance services within the real estate sector
How long did it take for you to become profitable?
Becoming profitable was a gradual process that took a few years. It involved a lot of learning, adapting, and refining our service offerings to meet the specific needs of our clients effectively.
When you were starting out, was there ever a time you doubted it would work?
Certainly. There were moments of doubt, especially when faced with the unique challenges of the Canadian market and the competitive landscape . However, a commitment to adaptability and quality customer service and continuous learning helped navigate those early uncertainties.
How did you get your first customer?
Our first customer came through networking and word-of-mouth referrals. Building strong relationships within the industry and showcasing our commitment to providing value were key factors in gaining that initial trust and business.
What is one marketing strategy that works well to generate new business?
Servicing clients properly, enabling a high quality referral network and repeat business.
What is the toughest decision you’ve had to make in the last few months?
The toughest decision involved pivoting some of our business strategies in response to the changing market dynamics due to the pandemic. Adapting to more digital and remote methods of serving our clients while ensuring we maintain high-quality service was challenging but necessary.
What do you think makes you successful?
I believe our success comes from a combination of continuous learning, adaptability, and a genuine passion for servicing our clients at the highest level. This unique blend allows me to approach the business with innovative perspectives and strategies.
What has been your most satisfying moment in business?
The most satisfying moment was seeing the tangible impact of our services on our clients’ success and growth. Knowing that we’ve played a part in helping them achieve their goals is incredibly rewarding.
What does the future hold for your business?
The future is bright, with plans to further integrate technology into our services, and continue to adapt to the evolving needs of our clients. The goal is to remain at the forefront of innovation in servicing the real estate sectors.
What business books have inspired you?
“The Subtle Art of Not Giving a F*ck” by Mark Manson has been particularly inspiring. It’s not a traditional business book, but its perspective on prioritizing what truly matters has been invaluable in both my personal and professional life.
What advice would you give to your younger self?
Embrace change and uncertainty. The willingness to learn from every situation, especially the challenging ones, and the ability to adapt are your greatest assets. Don’t fear failure; it’s an essential step on the path to success.
Are you willing to be a mentor?
Absolutely. I believe in the power of mentorship and the value of sharing knowledge and experiences. Helping others navigate their professional journeys, especially in the dynamic business world of real estate, is something I find fulfilling and crucial for the continued growth of the industry.