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Deborah Ojo is the Chief Executive Officer of DeborahHomes. She is a realtor that is passionate about educating buyers and sellers on real estate processes, mentoring, as well as supporting them to pull through retirement age.
Through her career, she has helped countless people retire comfortably, helped young families realize their dream of home ownership and managed investment portfolios for investors, both locally and internationally.
In this interview with Sunday Sun, Ojo goes down memory lane to recall how she started, the opportunities and challenges in the real estate business in both Canada and Nigeria. Excerpt:
How did you become a realtor?
When I decided to follow my passion in real estate business, I went back to school (Orea college) to become a licensed real estate agent in Ontario, Canada. After I gained the required knowledge, skills and competencies to assist buyers and sellers, then I went ahead to take additional courses to become a Real Estate Broker.
What did you experience at the beginning of the business in Canada?
Well, my first experience was that the industry is a very competitive one especially when one is just new; the only way experienced agents will collaborate with a fresher is if you can become a volunteer assistant in Canada. Well, it was not entirely a bad idea except that I was a matured student who needed flexibility of work hours and income to sustain my family. So, I decided to stand on my two feet, paid for lots of training and eventually created a niche for myself.
What were you doing before real estate business?
Just before Real Estate I was a teacher and I had it on a good account that teachers succeed more in real estate business than most other careers, something I didn’t know at the time I started off and it worked out so well for me.
How would you compare real estate business in Nigeria and in the Diaspora?
Well, talking about experience in real estate in both Canada and Nigeria, the truth is I don’t have an in-depth knowledge in Nigeria, but from what I have learned from other people, the first difference is that Nigerian currency is not stable. So, a lot of people make money in the Nigerian market and invest it here in Canada mainly for capital preservation. But in Canada, it is a continuous investment from one property to the other.
What are some of the changes that you would like to see in the sector?
My first notice was that most larger brokerages that I have heard of or seen are led by men. So, breaking into the old boys’ club is more difficult for women than men. A lot of women sadly experience discrimination in the workplace culture of most brokerages. An archaic work culture still survives in many brokerages which often conflicts with a woman’s priorities. Women who choose to seek a healthier work/life balance, for instance, often face criticism from both men and women. They can be overlooked for advancement for choosing to prioritize time with family, or taking extended parental leave. So, changing the culture in established brokerages is necessary in order to effect meaningful change in roles and opportunities for women.
What are the challenges you encountered in the sector?
My first challenge is balancing work and family obligations because I am a family-oriented person. Real estate is demanding and often requires a great deal of personal sacrifice which includes late night meetings, long hours discussions and supervisions, then, weekends are all part of the business for it to thrive, especially in the early stages of the career.
Looking at your experience, how can people plan effectively for life and towards retirement?
Let us get this clear, retirement does not necessarily happen only when one is 65 and above; no, people can be forced into early retirement before they are ready especially with health challenges. It is wise to plan for retirement as early as one can. A lot of people face poverty during retirement because lots of them do not start planning early. They think they have all the time. I started planning in my 20s and you can guess it, most of my retirement is in real estate. I did not just save money away, rather invested it and sending the same message to other people to start investing early too. Compound interest is an important tool that one can capitalise on to build retirement fund, but it needs lots of time.
What are some of the memorable moments in your life and career?
There are so many. One of my principles is to make all moments count. So, I have many of them from time to time. The recent ones are the awards I received last year.
How would you compare real estate experience in Nigeria and in the Diaspora?
Well, talking about experience in terms of real estate in both countries, the truth is I don’t have an in-depth knowledge in Nigeria, but from what I have learned from people, Nigerian currency is not stable. So, a lot of people will make money in the Nigerian market and invest it here in Canada mainly for capital preservation.
What are the new areas that you are looking at?
I am looking for opportunities to expand into other markets, including Nigeria. I have heard about the Nigerian real estate market, but I have never really actively considered it. Now, I am open to business opportunities especially in real estate in my home country.
What are the other things that occupy your time now?
Well, family is a huge part of my life so I try to spend as much time with them as I can. I also pamper myself by going on expensive vacations to see the world.
Who or what do you consider as the greatest influence in your life?
Many people and many things have influenced me, but the greatest influence I have is God, our relationship is personal and God got me during thin or thick. As funny as this might sound, I study Jesus as a businessman, the way he marketed, influenced others, his work ethics etc is beyond inspiration to say the list.
How would you assess the performance of the average Nigerian woman today in Canada?
We, Nigerian women in Canada, are resilient, humble and hardworking. I can also tell you that we are breaking barriers in our different chosen careers. Nigerian woman ‘no dey’ carry last and I am very proud of us here.
What advice do you have for young people who want to go into the sector?
My first advice is for them to keep their heads down and learn the business in and out, that is the only way, one can genuinely serve his or her clients. People are smart, they know who is genuinely interested in their transactions. In Deborah Homes, people come to us for education, love, truth and accountability.
What lessons has life taught you?
Walk your own path and do not let anyone dictate what you can or cannot do. Everyone seems to have an opinion on how I should talk, dress, what business ventures to go into next, but if you listen to them, they will disappear when you need them most. And I learnt that everyone always has an agenda, so it is my job to make sure I protect my agenda, do me, make sure my cup is full because I can’t fulfill my true calling by dancing to other people’s music and agenda.
If you are to advise those in authority in Nigeria, what would you tell them?
I would advise them to use the power of their office to unite Nigerians local and external forces, we are stronger together. They should also create a path for Nigerians in Diaspora to come home, bring their wealth of knowledge and experience back home. Many people I know will be willing to come home if there is electricity, safe security measures and all that is needed to be home.
