This interview is with Baron Alloway, Broker of Record at Alloway Property Group.

Baron Alloway, Broker of Record, Alloway Property Group

Baron, can you tell us a bit about yourself and your journey to becoming an entrepreneur?

I'm the Broker-of-Record for Alloway Property Group, a Toronto-based real estate brokerage. I've proudly facilitated over $27 million in transactions across a range of property types, including luxury homes, multi-unit residential properties, commercial spaces, and investment assets. My experience spans both residential and commercial markets, enabling me to provide tailored strategies and solutions for my clients.

Born and raised in Toronto, I graduated from Crescent School in 2014 and earned a Bachelor of Science in Biomedical Engineering from the University of Miami. During my time in school, I started a media company that would go on to become a social media talent management service. After graduation, my early career involved working for a medical startup, developing advanced surgical algorithms for orthopedic precision, a role that honed my analytical skills, attention to detail, and passion for problem-solving—skills I bring to my real estate practice.

In 2019, I made the decision to transition into real estate, combining my technical expertise with a drive to modernize an industry steeped in tradition. In 2022, I accepted the role of Broker-of-Record, leading Alloway Property Group with a focus on innovation and delivering exceptional results.

What were some of the biggest challenges you faced early on in your entrepreneurial career, and how did you overcome them?

Real estate is an industry steeped in tradition and shrouded in secrecy. Agents prefer to meet in person or speak over the phone and are wary of revealing MLS sales data to anyone. The first iteration of our brokerage centered around these time-honored traditions. It wasn't until the pandemic that we realized that, while an in-person strategy is important, it shouldn't be the primary method of customer acquisition.

In one week in March, we went from daily walk-in leads to a closed, cold, dark office space. According to the NAR, over 97% of homebuyers utilized the internet in their home search, with almost half of them starting online. We knew there was an incredible opportunity here, and we started to shift our model.

By providing passing visitors with the tools and information they needed to make effective decisions, we found a much higher engagement and retention rate. Sharing detailed MLS data and building algorithms to analyze sale prices and make predictions and making this data available to prospects for free revolutionized our business.

What is the most valuable lesson you've learned about building and leading a successful team?

Leading by example is the most important quality that a leader can possess. Every day, I try to practice what I preach. Too often in real estate, broker-managers tend to give advice that isn't practical because they've never had to do it themselves. This is the primary reason why I am not an advocate for managers that don't trade themselves—it turns every problem into a thought experiment where the real-world consequences seem removed.

When an agent comes to me with an issue, I put myself in their shoes and ask how I'd respond to the situation, even if it isn't the right answer the first time. I've also found that empathizing with their situation can help me understand how they drew their conclusions in the first place and guide them in the right direction. I've found that by teaching someone else, you can end up learning more about a problem yourself that you didn't already know.

Many entrepreneurs struggle with work-life balance. How have you navigated this challenge, and what advice would you give to others?

Work-life balance is the hardest thing to manage. When you don't have someone that is monitoring your schedule, it's easy to let work overrun every aspect of your life. The big thing no one talks about is how easy it is to get lost in late nights & early mornings. While this is the best time to get 'deep work' done without distractions, it also lets minutes turn to hours all too quickly.

The best strategy I've found to force your brain to understand a work-life balance is to take downtime right in the middle of others' uptime. It can be a workout, sauna, or even just an extra-long lunch date. This seems counterintuitive and isn't always practical, but by blocking time off during the regular 9-5, you begin to subconsciously remind yourself that your time matters just as much as that meeting with someone else.

Can you share an example of a time you took a calculated risk in your business, and what you learned from the experience?

Real estate is all about stories, and what we've learned is that stories are the best way to sell a product. Houses are no exception. We once had this big listing of both land and business. The owners were wary of listing the property as it meant prime time for their competitors to try to poach clients.

Our unique marketing strategy integrated a series of stories in earned and paid media that painted a picture that this was not a 'close-shop' sale but a succession sale.... The owners were just looking for the next generation. This paid off, and we were able to successfully transact the property.

How do you stay ahead of the curve in your industry, and what advice do you have for entrepreneurs who want to remain competitive?

Understanding and admitting that learning is never over is the most important thing when it comes to staying ahead of the curve. Even in an industry that seems unchanged (like real estate), there are always new tools, new technologies, and new rules you have to be aware of. To remain competitive, don’t dissuade anything you hear. Read everything with a critical eye, but remain optimistic about any industry-changing event.

If you could go back and give your younger self one piece of advice about entrepreneurship, what would it be?

Remember the philosophy of 1% better every day. By improving just one percent, you'll be about 37 times better after one full year.

Don't beat yourself up if the progress isn't linear—focus on what you accomplished today that was on the TODO list from yesterday!

What are your future aspirations as an entrepreneur, and what impact do you hope to make in the business world?

Creating something that is bigger than myself is my ultimate goal. If I can create a business that outlasts myself and my team, then I will truly feel that I've left a great impact on this world. No one will remember sales metrics or KPIs—they will remember who you were and how you changed an industry.

Thanks for sharing your knowledge and expertise. Is there anything else you'd like to add?

Don't be afraid to give things away. This can be a free blog resource, e-books, or even consultations with others in the space. By learning, listening, and contributing to a community, you'll find yourself farther ahead than you ever thought.