Instructor snapshot: Laurence Vincent

Over the course of her storied career, Prével president Laurence Vincent has played a key role in the construction of over 12,000 housing units. Now, she’s bringing her real estate development expertise to John Molson Executive Centre as an instructor in the Real Estate Management Certification. We sat down with her to learn more about the current challenges in commercial real estate development.

JMEC: How would you describe real estate development as a profession?

Laurence Vincent: It's first about identifying opportunities and then making them a reality. It's about identifying a site, seeing its potential, negotiating to get the best deal, imagining a project, and getting that project accepted, both from the city's perspective and from the perspective of stakeholders like citizens or various groups concerned about the environment. After that, it's about making feasible plans, building it, and selling it. Sometimes it's about holding onto it for the long term. 

The cycle can be very long, from the time we imagine something to when we see it come to fruition; it can take 4 to 5 years. But there's a great deal of satisfaction. Our job is very tangible. We imagine something that's pure and imaginary, and then, a few years later, it's very real and people are living in it. I find that to be quite impressive. 

JMEC: What are the risks associated with real estate development, and what skills are important to mitigate them?

LV: There are many. It's about being able to assess risk, taking calculated risks, exercising caution at the right moments, and then charging forward at others, building connections, and having a very broad network to push forward various projects. So, it's truly fascinating; we work with financiers, city planners, housing service staff, and community groups. It's a very wide range, from our clients to sales, and beyond, so it’s an opportunity to use all facets of your personality.

JMEC: What is a challenge in real estate development right now?

LV: I think, especially for young people coming from either the finance world or real estate brokerage, it's understanding the importance of each step. I was lucky to have the opportunity to experience the full 360-degree view of the business. I’ve sat in different chairs, in different roles, at different times in my life. When you’re interested in what’s behind the numbers—the concrete things we build, the impact we can have, the intentions, the relationships that can be created—that’s what I find interesting.

So, if I can contribute to sparking that interest in people, to look at the different roles, to understand the whole picture, it will be much more rewarding because I think we all work with the intention of having an impact. But also, I think it will make for better real estate professionals or people in the industry. And it will make for better companies overall.

I’m also a mother of three young children. They’re starting to be a bit older now—around 8, 10, and 12 years old. But often, women think that joining the industry isn’t possible. I wouldn’t say it’s simple, but it’s possible. We need more women in the industry and I think we have a different approach.

JMEC: As an employer, what qualities do you look for in new hires?

LV: For me, it's interest first. That’s why it's this flame I want to ignite in people: interest, curiosity, the desire to see beyond their niche. Once they join us, we’ll provide the 360-degree view; they don’t need to have it upfront. But the more someone understands the whole "game," the more they will be efficient, and the more relevant the projects will be as well.

JMEC: What are the benefits for participants who take this program? 

LV: Participants have access to different professionals to whom they can ask any questions. That’s what’s worthwhile. 

What’s unfortunate is that people don’t ask many questions. Even if it’s not necessarily directly related to the topic, we are generally able to answer a lot of questions. The fear of looking silly often prevents people from asking questions, but it’s a fear that’s poorly founded. One of my partners still tells me sometimes during negotiations, "Stop being afraid of looking stupid; at worst you’ll be told no." And indeed, there have been times when I asked, and I was told yes, and I never would have thought the person would agree. It’s all in the way it’s presented. Thinking, "Well, this may sound crazy, but I’m going to ask my question anyway” is worth it.

Concordia’s Real Estate Management Certification begins January 2025.