Milestones: Daniel Hofgartner, Buckingham Realty

Biz X magazine is now in its 25th year of publishing and since our success is due to the support of area businesses and organizations — and of course our readers, advertisers and suppliers — we want to celebrate with others also achieving this amazing milestone. This column features a local business, biz pro or organization, recognizing 25 years of operation in 2022. The April issue kicked off the festivities with The Bloomin’ Gardener, followed by International Art Designs in May and now the June installment features Daniel Hofgartner of Buckingham Realty. The grand finale wraps up in the 25th annual November/December Biz X Awards edition.

Daniel Hofgartner Of Buckingham Realty . . . Helping People Buy & Sell Properties Since 1997

By Dave Hall

With 25 years experience in the local real estate sector, Daniel Hofgartner, a Broker with Buckingham Realty (Windsor) Ltd. Brokerage, says he’s never seen a market such as the one this area has been experiencing for the past year or so.

“There’s been nothing like it in my memory and none of my more experienced colleagues have ever seen a market like this either,” comments Hofgartner, who joined Buckingham in 1997.

A rebounding local economy, buoyed by recent major electric vehicle investments by Stellantis and LG Energy Solution, a dwindling supply of listings, investors seeking to cash in their rental properties now that the market is red-hot, combined with high demand, have all led sale prices to reach their highest-ever average level.

“We all expect a correction within the next six to 12 months, but whether prices will return to previous levels is another question altogether,” states Hofgartner.

He believes that if mortgage rates rise to between five and six percent, that will cause a slowdown in high-priced sales allowing the market an opportunity to stabilize.

Visions of multi-million dollar sales across the industry are also convincing more people to consider real estate as a lucrative career.

Hofgartner, who was President of the Windsor-Essex County Association of REALTORS in 2018, reports there are now more than 1,300 REALTORS active in the local market compared to fewer than 1,000 five years ago.

“It seems everyone wants to be in real estate these days,” Hofgartner mentions. “And the competition for listings is fierce. In past years, you would have as many as 2,000 homes listed each month, but now it’s more like 500 or 600 and a lot of real estate agents are chasing the same listings.”

He broke into the business after studying interior design at Toronto’s Humber College. Much of the curriculum focused on architectural aspects of design and Hofgartner came away with an in-depth knowledge of the housing industry, which convinced him that a real estate career was in his future.

“For anyone getting into the business, you have to start with family, friends and referrals to acquire listings,” suggests Hofgartner. “It’s a long-term game and you can’t expect to be successful overnight.”

While repeat business can be a key to success in any career, people generally don’t need a real estate agent more than once a decade.

Selling a home is often dictated by life-changing events and family circumstances and finding an agent they can trust is important to every buyer and seller.

“Networking is a huge part of developing a client list,” explains Hofgartner. “And it’s crucial that you provide clients with good advice, since it’s the most expensive and important investment they will make in their lives.”

At the same time as housing prices have skyrocketed, so have rental prices, thus making it more difficult for young families and couples to save money for a down payment.

“You can’t find starter homes under $100,000 anymore,” says Hofgartner. “Those homes are now between $300,000 and $400,000 in many neighbourhoods.”

Buckingham Realty, which has more than 50 agents, was established in 1968 by Paul Paine (who passed away earlier this year) and Stan Dunn.

Paine’s son Cameron is now Buckingham’s Broker/Owner, brother Jason Paine is Broker of Record, while Dunn remains active in the business.

The company has four locations — 4573 Tecumseh Road East in Windsor, 12214 Tecumseh Road East in Tecumseh, 473 Sandwich Street South in Amherstburg, and 45 Queen Street North in Tilbury.

For more information on Hofgartner’s listings, visit his personal website: DHof.ca. Further details on the company can be found on: BuckinghamRealty.ca.

Daniel Hofgartner, pictured recently at a client’s home for sale on Riverside Drive, has an eye for detail to help you find your next dream home or stage your home and sell it for the highest sale price! Photo by Rod Denis.