Finance Monthly March 2020 Edition

36 www.finance-monthly.com BUSINESS & ECONOMY - REAL ESTATE TORONTO'S REAL ESTATE MARKET Daniel Holmes - Colliers International We caught up with Daniel Holmes , Senior Managing Director at Colliers International. Based in their Toronto office, Dan’s role is to implement strategies to support and mentor the firm’s internal resources and track the insights, factual data, market trends and projections to maximise the potential of property. Belowwe talk to Dan about Toronto’s real estate market and the things that position Colliers at the forefront of the commercial real estate industry. Tell me a little bit about yourself and your role at Colliers International. I joined Colliers in 2002 and have been promoted through the organisation over the course of my career. I started as part of the brokerage team, completing over 500 transactions and providing a full range of services to both national and international clients. My strength is in building lasting relationships with clients and advisers which in turn helped me achieve my long- term goal of joining the Colliers leadership team in 2015. My leadership philosophy is that it’s through relationships and trust that loyalty and influence are earned. I want my team to follow me into battle because they want to, not because they have to. New disruptors, whether they’re small or large, create opportunities to move your team ahead through change management. It is essential to have a team to believe in and work towards the same goals to capitalise on this fast pace industry. Downtown Toronto, by all accounts, has become the tightest office market in North America and might be getting tighter despite new supply. What is your take on this statement and what would you recommend to tenants? Our projections show that the market will continue to tighten for tenants. Relief will be