The Last Honest Realtor
Welcome to The Last Honest Realtor, your exclusive, behind-the-scenes pass to the twists and turns of the Toronto real estate market. Hosted by David Fleming of Toronto Realty Group, this podcast offers an unprecedented look behind the curtain, presenting the local real estate scene with a mix of unapologetic honesty and entertaining cynicism.
David doesn’t just talk real estate—he lives it. With years of experience under his belt, he's here to share the unvarnished truth about what it really takes to buy or sell in Toronto. From the big wins to the frustrating pitfalls, get ready for a behind-the-scenes journey that promises both information and entertainment.
Whether you’re a first-time homebuyer, a seasoned investor, or just a real estate enthusiast, David's insights will equip you with the knowledge you need to navigate the market. Expect practical advice on everything from staging and junk removal to listing and making the sale.
Tune in to The Last Honest Realtor and experience Toronto real estate like never before. Be informed, be entertained, and most importantly, be ready to see the industry through the eyes of someone who can handle any challenge the market throws his way.
The Last Honest Realtor
Ep. 39 - The Market Value Myth: Why Most Sellers Are Wrong in 2025
Everyone thinks they know what their home is worth—but do they really? Spoiler: it's not what you paid, and it’s definitely not what you want to get back.
In this episode of The Last Honest Realtor, host David Fleming dives into one of real estate’s most misunderstood concepts: market value. With vintage hockey cards, economic theory, and a few reality checks, David unpacks why sellers keep getting it wrong in today’s market—and what buyers need to understand before they make an offer.
In This Episode:
- What Is Market Value? – And why Google’s definition isn’t enough.
- The Hockey Card Analogy – How collectibles explain the real estate market better than some agents.
- The $300K Problem – Sellers chasing phantom profits in a declining market.
- Stats vs. Stories – What the data really says about GTA home prices.
- The Comps Debate – When comparable sales are helpful… and when they’re useless.
Timestamps:
00:00 – Introduction: The problem with defining market value
01:00 – Vintage hockey cards, Las Vegas dealers, and $10 lessons
06:50 – What market value isn’t (hint: your reno costs don’t count)
10:15 – The peak of 2022 and the painful reality check of 2025
17:40 – Seven different stats, one inconvenient truth
26:30 – Seller psychology: denial, delusion, and disinterest in facts
32:00 – The one thing buyers and sellers must agree on
35:00 – Final thoughts: Why market value is only real when a deal closes
Don’t Miss:
- The true story of a seller asking $2.3M for a $1.4M home
- Why market stats can say anything—and how to read between the lines
- A simple formula to estimate your home’s actual value in today’s market
Subscribe to The Last Honest Realtor for straight-talking, data-driven real estate truth bombs every week.
Like, comment, and share: What’s the most unrealistic price you’ve seen on a home lately? Drop it in the comments.
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