If you’re unfamiliar with the real estate world, it is not uncommon for agents to move firms. Just like any job, finding the right fit can make all the difference in job performance and perception, just ask Russell Westbrook of the LA Clippers. But in the case of one Millennial Broker, or TMB, if you’re looking to save on characters, listeners of his podcast “Self Starters,” got a unique and practically real-time insight into how this real estate agent meshes with both his former and current bosses and why he had to move on.

The bosses in question? Just Robert Reffkin and Ryan Serhant. You may have heard of them.

Two Real Estate Moguls in A Podcast Hot Seat

The Millennial Broker, Steven Clair, has been a real estate agent for more than 14 years, and like many agents in the New York area, he’s been finding his place to thrive and, until recently, has been listing property under the real estate tech firm, Compass, led by CEO Robert Reffkin. 

Yet shortly after interviewing Reffkin on his podcast (but prior to the release date), Clair announced his transition to the up-and-coming firm, SERHANT, led by Ryan Serhant. However, many would argue this firm isn’t on its way, it’s already arrived and is challenging Compass for its title of industry disruptor.

A Quick Look at Robert Reffkin and Ryan Serhant

Robert Reffkin is an entrepreneur who first got a taste of real estate from his mother, Ruth, who was and is an agent. After his time at Columbia and Columbia Business School, he had an impressive resume, working on Wall Street, as a White House Fellow under the Secretary of the Treasury John W. Snow, later becoming the Chief of Staff to the COO at Goldman and founding a nonprofit. In 2012, Reffkin and Ori Allon founded Compass, an online real estate tech company designed to address the hardships that agents like his mother experience while working as real estate agents. Compass went public in April 2021 and has been the topic of conversation ever since due to the incredible amount of money lost in the last several years. In 2022 they lost $602 million dollars, up from $494 million in 2021, most recently reported a $150 million loss, and cut 800 employees as of January 2023. Even so, Compass is currently in 72 markets with 300+ offices and 28,000 agents and continues to expand across the US.

Ryan Serhant rose to notoriety on the reality show Million Dollar Listing, where viewers watched him sell, you guessed it, multi-million dollar properties around New York City. Previously a hand model who also had a role on the soap opera As The World Turns, Serhant joined the real estate firm Nest Seekers International in 2008 to help pay the bills. After many successful years selling real estate (both on and off screen), Serhant opened up his own real estate firm, SERHANT, in September 2020. By April 2021, the brokerage reported consistently averaging $100 million in sales volume per month in its first 6 months of business. Serhant has continued to grow his presence by releasing two books, sharing countless clips of listing tours and agent advice on various social media platforms, and currently holds the exclusive marketing and sales rights for one of the most expensive listings in NYC, if not the world, a $250 million penthouse apartment at the top of Central Park Tower. SERHANT has its flagship office in the trendy NYC Soho neighborhood and has just announced an expansion into Florida, Pennsylvania, New Jersey, North Carolina, South Carolina, and Connecticut. This means SERHANT is listing in some of the least affordable cities in the United States, with high price tags and a lot of legwork needed.

Why Would an Agent Leave Compass?

So how did a real estate agent like Clair leave one of the top established brokerages in the country for a self-titled “unbrokerage”? Without even knowing it, Reffkin answered that question. 

“No one manager is going to be able to click even just on a personal level, much less the business level with everyone,” Reffkin said during his interview. While this was his response to Clair’s less-than-ideal experience with a Compass sales manager, it gives insight into the whole decision an agent has to make when finding the right company and the right manager.

From the start of each of Clair’s interviews with the brokerage heads (his past and current bosses), some cues may point to his ultimate decision to leave Compass. With Reffkin, Clair jokes about his struggle to find an empty block on the CEO’s calendar, which is met with perhaps a brief bit of terror from the founder, thinking his calendar might be public. Of course, would you expect easy access to the head of a company valued over a billion dollars? 

 

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A post shared by Self Starters Hosted by Steve Clair (@selfstartersshow)

 But when he speaks with Serhant, there is a more laid-back banter, and you hear that this is not the first occurrence of face time with the big boss. All newly onboarded agents get a protocol meeting with Ryan when they first start, and TMB was wise enough to, again, use the modern powers of online calendaring, check the CEO’s schedule, and put some elbow grease into getting face-to-face.

Direct interaction aside, for years, Compass was at the forefront of the industry, poaching agents from other firms with the promise of new and exciting tech and equity. In addition to perks and benefits, the brokerage offered digital tools like a customer relationship management platform (CRM) and marketing assistance with tools for digital ads, videos, and newsletters.

On top of Compass’ large losses mentioned above, this has been a hard year for real estate as the low-interest rates of 2021 and the impacts of the market’s boom have faded. As Reffkin put it to Clair, “Agents are all small business owners and entrepreneurs… just like our agents are bringing down their expenses, at Compass, we brought down our expenses.”

And bringing them down they are. 

Over the summer, Compass announced that it will no longer offer equity or cash incentives to new agents, inducing rumors of slower hiring and exodus. There was also talk from Reffkin that the firm would be reducing technology and incentive-related expenses but “not reducing agent service levels.”

When asked about an exodus by Clair, Reffkin shared that Compass has had a consistent principal agent retention rate of 98% across Q3 and Q4 of 2022. Compass currently has 13,000 principal agents, which is the term they use to refer to team leaders or individual agents operating independently on the platform. It does not seem they share statistics on the 30,000 agents not considered principal agents.

What Does Ryan Serhant Think About Compass?

Serhant has spoken about what he thinks Compass’ place is in the real estate world and how they have acted as a disruptor and pushed the industry towards a more tech-focused approach, all while putting the agent first. He claims that Compass has been great for the industry and the agent, finally giving them power and not treating them like a number. This aligns with how Reffkin sees his company as a “reverse triangle” where the sales managers work for the agents,  and he himself is essentially everyone’s employee working to take feedback and improve the company. At Compass, the logo is black and white for a specific reason, they want the agent and the listing to be the color, not the firm.

As Serhant says, everyone wants to hate on the “rich kid” because they want them to fail

Open Houses Don’t Sell Homes Anymore

It’s a different world than it was two years ago in terms of social media and internet usage. As of 2022, the average daily social media use was around 147 minutes a day (up 2 minutes from the year prior). With about 10% of one’s day spend scrolling through Instagram, TikTok, and yes, even LinkedIn, integrating marketing and business with social media seems like a no-brainer. Most real estate companies, Compass included, have touted their marketing and technology tools and features as a means to recruit agents to their firms to help reach clients virtually. 

But are cutting-edge tech and helpful marketing tools enough? In this different world, social media marketing in the form of house tours, funny anecdotes, and advice aren’t just marketing in the moment; it’s an investment for future business. As Serhant told WSJ in 2020, “The brokerage company, open houses, and pretty photos don’t sell homes today the way they did 10 and 20 years ago,” he said. “Buyers of high-end real estate, and their children, go to YouTube and social media on their phones to research homes and agents now.” 

Passive social media consumers turn into buyers spending hours scrolling and saving features of their dream homes. Cold calls and emails go unanswered as the younger generations won’t interact with anyone who they haven’t made the subject of a solid internet stalk, and for Serhant and his team, there is plenty of media out there for viewers to dive into.

Buyers, especially New Yorkers, want to have their cake and eat it too. Let them shop for homes, but also let them be entertained.  Outdated newsletters with a few choice listings and events happening in the local market, paired with center-aligned text and random and off-focus statistics about happenings in the country, are not what today’s buyers are looking for. In real life, this is demonstrated by the agent from a smaller firm who sent out their recent newsletter detailing stories of local crime and death that then transitioned into why you should buy an apartment in his market. That’s like home shopping on CNN. 

Even the tried and true market reports that are expertly crafted with bolded letters don’t give the same thrill they used to. By the time they’re released, they are already outdated, bland and provide zero context to the buyer and their situation. Real estate has shown that it can be flashy and fun but also cutting-edge and efficient. 

“Aligning With Greatness” Why An Agent Would Work With SERHANT.

From where TMB stands, it seems he’s moved past the tech and benefits that Compass can offer. For years, followers of @themillennialbroker have gotten a distinctive look as Clair worked on his own to bring in a team for his content production, creating the media consumers and buyers so desperately want. Who wouldn’t want to purchase a West Village carriage house when you’re first introduced to it via drone?

As an agent who is growing and ready to explore new and more creative ways of his trade, Clair now has access to an in-house media company, is surrounded by a “smaller group of highly producing professionals,” and is getting to learn from one of the biggest names in real estate who has been known for flipping the script on how real estate should be done. The splashy SERHANT branding and all the help that goes into that is no doubt an attractive offer if an agent is looking for exposure.

To Clair, switching to SERHANT ‘“aligned with [his] business perfectly” and fit great on a SERHANT x TMB branded hat, coupled with Clair’s signature hand rub that starts all his videos. The branding is strong with this one.

Sure, Ryan Serhant has touted similar promises as Reffkin’s of creating a brokerage for the agent, but there is a different spin that appears to have clicked with The Millennial Broker on a more personal level. Serhant believes his firm is set apart because, on top of him being an agent, the “whole company was built by agents, for agents, for what agents want in 2023 and beyond. This is not like a fundraise, [where we say] hey, what do we think agents need, we’re going to disrupt the real estate game and then lose all our money.”

Seems familiar. 

Compass and SERHANT. now

While SERHANT agents may be splashed across your phone, they still have some catching up to do. In April 2023, The Real Deal ranked SERHANT #8 in NYC in terms of single-family home sales over $5 million, with 3 sales totaling $67,450,000, a pretty impressive spot to be in as a fairly new brokerage. However, there has been recent news of SERHANT agents returning to Compass despite being high performers with the firm. This could become a theme as the shiny blue allure wears off of Serhant’s brand. 

Conversely, Compass was ranked #3 with 22 deals and a staggering $209,514,990 in sales. On July 24th, they released the Performance Tracker, a “game-changing tool designed to revolutionize how Compass agents track and analyze their business metrics,” proving that they are still pushing ahead to give agents a leg up with helpful tech to provide a transparent picture of where they stand. 

But with SERHANT’s recent NYC onboarding push with agents like Clair, that gap could quickly close as Serhant begins his mission to “help every agent and every team build their own brands to help generate more business, make more money for the rest of their lives.” More exposure means more deals, which brings even more cash, and with Instagram growing tired and TikTok bans looming, who wouldn’t want to be on the path to creating a legacy and finding a nice little penthouse to hole up somewhere? Or at least the promise of that sounds nice.

WATCH THE REFFKIN AND SERHANT EPISODES

The post “Aligning With Greatness”- An Inside Look At An Agent’s Decision to Move from Compass to SERHANT appeared first on CitySignal.

So, what can real estate professionals do when the time comes to switch brokers? How do they evaluate which firm is the right fit? And how can they transition smoothly without disrupting their customer base?

At CitySignal, we found that while there’s no one-size-fits-all criterion when it comes to choosing a new broker, there are some key questions and factors to consider.

When Do I Know It’s Time to Switch Brokerages?

“The first step is to determine why you’re looking for a change,” says Yael Dawson, who has worked as a licensed real estate professional in NYC for the last decade. “Brokerages vary greatly in how they treat their agents, how much support they provide, how their commission split works, and how much they trust you to handle your business. You want to be sure that the new firm aligns with your long-term goals and values you as an agent.”

Dawson started her real estate career at Anchor Associates, which some agents may label as a “starter” brokerage. These smaller firms tend to charge a higher commission split, such as 70/30 or 60/40, because they’re taking on new agents who are likely to make more mistakes. These errors can be costly for the brokerage, not only in terms of money but also when it comes to their credibility with landlords across the city.

Dawson recalls a time when a colleague accidentally CC’d their client on an email that was intended for the landlord’s agent only. The client had been upset about how long it was taking to secure an apartment, especially since the landlord rejected their initial offer, and decided to email the landlord’s agent directly.

What the client didn’t know was that the landlord’s agent had a reputation for killing deals whenever there was a breach of protocol. The client should have never been included in the email chain, and when they were, the landlord canceled the deal and threatened to blacklist Anchor Associates.

“Fortunately, that didn’t happen,” Dawson remembers. “Anchor was able to make things right and continue working with the landlord. Our office manager was very understanding and treated the agent involved with kindness. But not all brokerages are as forgiving, so it’s important to find out how a firm handles these types of situations.”

This is just one example in a long list of reasons why real estate agents in NYC may decide to switch brokerages or stay where they are. For Shawn Jenkins, who transitioned from a rental-driven firm to join Corcoran’s luxury sales team, the decision was all about finding a place to grow.

“I was working as a rental agent and wanted to take my career to the next level,” says Jenkins. “Sales [was the obvious choice]. I’m a natural self-starter, so all I needed was a toolkit to help accelerate my career into sales.”

Jenkins knew that Corcoran was the place to be if he wanted to make a name for himself in the luxury sales market, which is off to a great start having already closed a deal over $1 million in Sunset Park. But not all agents have the same sense of clarity or ambition. In some cases, the decision to switch brokerages is more about flexibility or necessity. If an agent’s clients have outgrown their current firm, or if the brokerage is unable to provide them with the tools and support they need, then it might be time to make a change.

But with so many different business models, how can real estate professionals ensure they’re making the right choice?

What Are the Different Brokerage Options and Which One Is Right for Me?

When exploring the different brokerage options in NYC, Dawson recommends making a list of both personal and business objectives. Once the agent has an idea of what those are, it will be much simpler to determine which potential firm is likelier to help them achieve their goals.

“It’s like any other job search,” she explains. “You need to know what you’re looking for and how the chosen firm can help you get there. But unlike a traditional job where you earn an hourly wage or get paid a salary, how much you make as a real estate agent depends on how much you put in. So it’s important to understand how the commission split works and how much support, training, and resources you’ll get for your investment.”

Compensation Models for Brokerages

To illustrate Dawson’s point, here are some examples of the different compensation models adopted by brokerages across NYC:

• Experimental Firm A lets you keep 100% of the commission as long as you pay a monthly desk fee. This fee covers office space and administrative support but does not include training or continuing education. It ranges from $500 to $1,500 per month, depending on the broker’s needs.
• Established Firm B offers an 80/20 split with no monthly desk fees, but the agent would be responsible for all marketing costs associated with their listings, plus other out-of-pocket expenses. At $6 per day just to advertise on Streeteasy, these fees can add up quickly.
• Starter Firm C proposes a 50/50 split. It covers half the cost of marketing and provides continuing education for the agent in the form of webinars and negotiation workshops. But the firm lacks exclusive listings and hasn’t fostered any long-term relationships with landlords. This means the agent will have to compete with thousands of real estate professionals for the same open listings, hustling to secure deals.
• Salary Firm D offers a base minimum of $50,000 per year with monthly bonuses based on KPIs (e.g., lead-response rate, closed deals, customer service ratings, etc.) Put another way, the firm holds onto most of the commission in exchange for providing the agent with a steady paycheck and additional incentives.

Agents who have built a strong referral network and generate a steady stream of leads might be better off going with Firms A or B. On the other hand, agents who are just starting or take a more passive approach to their business might benefit more from Firms C or D. It depends on the agent’s level of expertise, customer base, whether they need hands-on support, and how much time and money they’re willing to invest in their business.

But these aren’t the only factors that differentiate NYC brokerages. Some firms specialize in specific neighborhoods or boroughs while others have a more global reach. Others embrace new technologies like DocuSign, chatbots, and marketing automation, making it easier for buyers and sellers to engage with the firm. Hidebound agencies, on the other hand, are being left in the dust as more and more firms adopt these cutting-edge tools.

All that said, some real estate agents will prioritize company culture over everything else, including the potential for higher commissions.

How Important Is Company Culture When Switching Brokers?

Fern Kamins, a former agent at Anchor Associates, didn’t choose to join Elegran two years ago. She just happened to be sponsored by Anchor when Elegran acquired the smaller company in 2020. The warm welcome she received from her new broker was one of the main reasons she decided to stay.

“The company culture at Elegan is wonderful,” Kamins says. “The management team is forward-thinking, empathetic, and always available to answer questions. It’s a great place to build relationships and grow your real estate career.”

Kamins has been selling real estate in Brooklyn and Manhattan for over 40 years, recently closing several deals at 225 Adams Street in Brooklyn. She’s witnessed how the industry has changed over time and believes that company culture plays a vital role in the agent’s success.

“Everybody thinks that [real estate agents] are stabbing each other in the back,” she remarks. “If you go to the right firm, that isn’t true.”

She continues: “Sadly, many agents prioritize the deal over each other. A toxic company culture perpetuates the stereotype of the agent as a selfish individual whose only goal is to close deals. But Elegran breaks that stereotype. It creates a supportive and respectful environment where agents are valued regardless of their experience level. That’s why I’m still here.”

We asked Kamins if she’s ever worked at a cut-throat real estate firm like the one depicted in David Mamet’s 1992 film “Glengarry Glen Ross.” In one scene, Alec Baldwin’s character famously delivers an eight-minute speech about how “it takes brass balls to sell real estate” and how “coffee’s for closers only.”

Kamins laughed. “I’ve certainly heard of scare tactics used at some brokerages to keep agents ‘motivated,’ if you could call it that,” she said. “I haven’t worked in a place like that myself. I think that if the brokerage environment is clearly toxic, agents shouldn’t hesitate to switch. You don’t need someone yelling at you to do your job.”

Has Kamins’ transition been smooth? “For the most part, yes,” she assured us. “Most of my business is referral-based or working with repeat clients, so I never had to worry about how the switch would affect my business. When I make a switch, I bring my clients with me. It’s that simple.”

When we asked her what advice she had for agents who are considering switching to a different brokerage, Kamins was adamant:

“Figure out your goals, research different firms, and don’t get too hung up on the commission split,” she said. “The most important thing is to find a place that feels like home so you can build meaningful relationships with colleagues and clients alike.”

What Steps Should Agents Take When Switching Brokers?

If you’re a real estate agent who’s just decided to switch brokerages, here are some tips to make your transition as smooth as possible:

1. Notify your current broker before officially resigning (this can be two weeks or 30 days in advance depending on your employment terms).
2. Discuss your current listings with your broker to coordinate how they will be handled after you leave. In some cases, you’ll need to wait until the listing expires before it can be transferred to your new broker.
3. Email your current broker a list of any pending commissions and CC your personal email. This is a great way to keep track of how much money you’re owed since brokers can take time to process commission payments.
4. Bring any documents and information related to your current listings with you when you go to your new broker.
5. Get a confirmation from your old brokerage that your real estate license is no longer sponsored by the firm before you submit the necessary paperwork to your new sponsor.
6. Notify your clients about your move and make sure they know how to get in touch with you at the new brokerage.

The Takeaway

There’s a lot to think about when switching real estate brokerages. One of the most important considerations is finding a firm that provides the support and culture the agent will need to succeed in this ultra-competitive industry. Setting realistic goals and choosing the most effective compensation structure to meet those goals is also essential.

Finally, agents should carefully navigate the process of switching brokers by asking as many questions as they need to feel comfortable with their decision. Taking these steps will help make the transition to a new brokerage as seamless and successful as possible.

The post When and How to Transition to a New Real Estate Brokerage appeared first on CitySignal.

With more than 60,000 licensed real estate agents working in New York state alone, it can be difficult to narrow your options down to the agent most fit for you, and the search process alone can be daunting.

This week I sat down with Chimere Meerschman of The Corcoran Group to discuss what sets her apart and above the rest, as well as some of her best advice and tips for potential home buyers and renters looking to jump into the market.

From Belgium to Ballet: Getting to Know Chimere Meerschman

I’m one of those bold people, you know, when I’m in a situation I really say ‘hey, how am I gonna work this out?’ You know? I get a plan together, and I just do it. I’ve been successfully navigating life with that attitude.

Meerschman and I began our discussion recapping her time in Belgium where she spent several years owning and managing a hotel and cocktail bar, even though at the time, she didn’t speak the language.

It was something that was mine in this, you know, strange country, where I didn’t speak the language. I welcomed guests from all over the country and luckily English was the common language. So that’s how I was able to be successful with a cocktail bar and hotel.

Now fluent in Dutch as well as relatively proficient in French, German, and Danish, Chimere has returned to the States, where she settled back in New York City, her hometown, bringing with her a wealth of sales, hospitality, and business-owning experience. Chimere also had a previous life as a ballet dancer.

I studied dance from 4 to 24. My mother started me in ballet, and I just loved it. So basically danced until I couldn’t dance anymore, had to get to real life. I never planned on it being my career. My mother always told me, ‘it’s fun, it’s great, it’s graceful, it makes you the person you are today.’ But realistically, there’s not a ton of open spots for ballet dancers. Everyone wants to be […] Misty Copeland, but there’s only one Misty Copeland. I was always realistic, I knew it was something I loved to do, and it was fun, but I always wanted to get a “real job.” I enjoyed doing it, I still have my pointe shoes, and whenever I have a free day, which is very rare in real estate, if I need to work out or something, I can put them on and sort of twirl around my apartment as a distraction; do fun stuff. Because I love it, I really do.

On Getting a “Real Job”

I’ve always been in some sort of sales position. So when I left school I was in packaging sales, I graduated from luxury cosmetic packaging sales, which is a niche market in itself. High margins, in beauty offices, in Manhattan which was really nice. And I was in real estate sales in the Hamptons on top of that.

As many know, The Hamptons is one of New York’s most exclusive and expensive housing markets, one of its zip codes landing as the 2nd most expensive zip code in the United States with homes ranging from $5,000,000 to 150,000,000 depending on location.

Real estate for some reason has always been a career choice for me, a lifetime ago as it now, because it’s a combination of something I’m good at, which is sales, customer service and I think I sort of top it off with a concierge or special knack for really taking care of people.

Meerschman understands just how monumental the decision to move is, having done so several times herself, and prioritizes her customers at every turn during the process.

I think moving, divorce, and having a baby [are] the three most stressful things, and moving is one of them. It’s crazy. Not only is it very stressful, it’s one of the most expensive things you’re going to do.

Meerschman is correct of course, starting with moving costs alone which nationally average between $1400 and $2500. But that’s not even scratching the surface.

You’re paying someone a big portion of your salary every month; you’re giving them first month’s rent, security deposit, broker’s fees, just to move in! Then, of course, you’re buying god-knows-what, towels and egg beaters and you know, knives and stuff. So it’s a big purchase as well as a stressful purchase. So I think when you’re doing something like that you really need someone to hold your hand and put you first and I just have that nurturing knack to do it in a really nice way. That’s why that kept becoming my “real job”.

Chimere On What Sets Her Apart From Other Agents

Meerschman’s sales, hospitality, and people skills all coincide to make her a powerhouse of real estate.

So as far as hospitality, you check into the hotel. I want to make sure you have everything you need to make your stay perfect. What time do you need your breakfast? What kind of breakfast do you like to have? When you’re done with what you need to do today, whether you’re coming for business or pleasure, where do you want to eat dinner? What souvenirs do you want to pick up? I feel I made that really accessible for my clients; it was a boutique hotel so I was able to really zero in on each person’s needs. I just somehow translated that to real estate. Where do you need to live? What will work for you as far as #1 where you’re going to live, how much you’re going to pay, what amenities you need. But as well as what kind of search do you need?

Meerschman tailors each sales experience to the client at hand, taking care to meet the needs of each person, but also provides a level that’s a step above what can be a stiff and impersonal transaction.

I’m working with a woman originally from Long Island who now lives in Florida and needs to move to New York for a job. We’re doing everything virtually because that worked for her. We’ve been looking at apartments virtually. We set a time, I send her things virtually, I go in person to the apartment, and I FaceTime her. Not only in the apartment, but in the hallway, you know, what train did I have to take there? What does the street look like? So she can make the best decision on where she wants to live.

Same as what you need as far as amenities and bedrooms and space; where’s the nearest nail salon? Where’s the nearest supermarket? I feel that concierge’s hospitality bleeds into that; I want to give them all of that. Again, this is the biggest purchase they’re making, why not give them everything so they feel really good about this purchase and on top of that just less stressed about it because all of their needs are met?

This kind of “full service” coverage Chimere offers sets her apart from other agents in a very real way, and word of mouth does a lot of work to spread her business.

I often get reviews from clients, ‘thank you so much. I really felt you cared about what I needed, how I needed it, and when I needed it.’ I sort of hold their hand. I think it sort of definitely sets me apart. I’m not really interested in the transaction, I’m interested in the person. Can I help them? Can I find them something and make it work for them? I want them to be happy. I get referrals to this day because I helped someone three, four years ago, and they’re like, ‘wow she was so good.’ Whenever someone needs an agent, I just send them your number. 

I recently reached out in my search for a 2 bedroom apartment downtown. Chimere took the call and from the moment she contacted me, her knowledge of the market and professionalism with follow up was evident. In a very short time she identified the perfect space, a Fidi loft. Her negotiating skills helped me to secure the home at a great price. Additionally she was able to rent my investment apartment with a great income stream. I highly recommend working with Chimere for all of your real estate needs.

Review from RentHop, June 2022

On What She Wishes Clients Knew Before Their NYC Apartment Search

I would want my clients to know ahead of time that because this is New York City and it’s one of the most expensive cities in the world; I think I would like for them to know ahead of time that- and I hate saying this, but they cannot get everything they want; They will have to make a small sacrifice.

So I have a client that comes to me, they want a window in each bedroom, they want a gym, floor to ceiling- they everything: I wish they would know ahead of time that it’s impossible to get everything; best price and all the amenities, it’s just really difficult. I’d like them to come in knowing that ‘I have to sacrifice something and if I do that, I’ll have a very quick and easy and painless, less stressful search because I know that one of those things I want is unrealistic.

Chimere is awesome! It’s difficult to imagine apartment hunting being fun, but Chimere even managed that. Moreso, she was honest and transparent about her recommendations but listened to my requests and showed me even those places she suspected (and was correct) that wouldn’t be the right fit just so that I would feel comfortable with my choice.

Review from RentHop, September 2021

Chimere notes that these expectations come mostly from those less familiar with the nuances of New York City’s housing market, And not because they’re unrealistic or unreasonable people, it’s just a lot of clients who I meet are coming from different cities. Whether it’s Chicago, Florida, or California. Everything is different. California is different from New York. There’s a lot of air and space and light there, we don’t necessarily have that in New York, but we have other things that California doesn’t have. So I’d like them to know that where they’re coming from can’t necessarily dictate where they’re going. It’s just not the same, you know? I think that would make my life and their lives a lot easier knowing that coming in.

On New York City

I mean, New York is, listen, I was born and raised here, so I’m definitely partial. However, I did move to Europe for several years, and I still think New York is the best place. There’s a beautiful combination in New York of class, sophistication, grit, soul, there’s a little bit of everything here. There’s no place more convenient, you can have anything you want whenever you want it, which is amazing. The best food; the best Indian, the best Italian, the best any-type-of-food you want. So, I think when anyone’s moving from another state to New York, it’s likely because they have another job. So your paycheck is larger, and you’re making a lot of money that’s different from a lot of places in the states.

According to the U.S. Bureau of Labor Statistics, Manhattan’s average weekly wage of just over $4000 ranks #1 in the nation, of course, there is a higher cost of living that follows the higher wages.

For Meerschman, it’s all par for the course.

There’s great opportunity everywhere just to enjoy New York. Amenities in buildings, for example, are amazing; you’ve got roof-top pools and gyms and laundry rooms, work-from-home lounge; you know, you get all dressed up to leave your apartment and go to your rooftop lounge, and that’s a thing in New York City. What other place can say that? You’re not even leaving your building, but you’re still out and about. Plus, not to mention all the great people. There’s people in New York from all over the world, and all over the country, I think it makes this amazing melting pot of knowledge, style, and class. Just a little bit of everything, you know?”

Rentals or Sales?

Obviously, when you’re going to buy something, it’s a lot more permanent. You’re spending more money, and you are making a large commitment. But at the root of everything, it’s very similar, it’s still the most expensive purchase you’re ever going to make. There isn’t a big difference in the process, obviously, technically, you’re buying something, you’re getting a loan- there are other things that are involved, but you’re still proving something to someone.

In rentals, in one case, you’re proving to the landlord, “I can afford to live here.” In sales, you’re proving to the board, “I can afford to live here.” But you need the same documents, you still need the last few paystubs, the last two bank statements, tax returns, your letter of employment, all of that stuff is needed. One’s just a little more, or a lot more expensive than the other, but it’s still a very similar process. I think, and I hate to say this, maybe I like rentals better because I can help more people. There are more people renting in New York City than buying. I feel like I have more opportunities to help in the rental market.

On Trends in NYC Rentals & Sales

I feel like right now you have a lot of people wanting their own space. They’d rather get a studio which they can afford on their own than get a two-bedroom that they have to split with a roommate. I’m also noticing people buying something for themselves, not necessarily for the family unit. ‘My kids are out of school, my kids are gone, they’re done. Let me get an apartment that works for me” I’m seeing a lot of that. I’m also seeing a lot of first-time buyers. They’re saying, ‘I’ve never bought in New York or anywhere, and my rent is so high, let me dip my toe in to see what it would cost to buy because now I’m giving all of my money to a landlord because it’s so expensive, let me see what the cost- I’m doing a lot of rent vs buy situations. I feel like the age to buy is getting younger than it was a few years ago.

I asked Chimere if she thought Covid was to blame for some of these trends, as the housing market experienced a surge in prices as the pandemic raged on.

I think it’s a combination. People’s priorities have changed, you know? Do you want to be in a two-bedroom apartment with someone you don’t necessarily know? Or in a four-bedroom with all these people.

All the prices going down then going back up, it’s just like “Let me take care of myself” That’s what I’m seeing. ‘Let me get something by myself, and I’ll figure it out. Whether it’s gonna be smaller, but at least I know it’s mine, and God forbid something like this happens again, I have my little space.

Chimere’s Favorite Building: An Art Installation As A Building

NYC boasts some of the most jaw-dropping and unique constructions across the world and since real estate agents see many buildings a day, both inside and out, we had to know which of all the gorgeous builds is Chimere’s favorite.

I like 56 Leonard, it’s just beautiful. It’s the Jenga building. The building, by Herzog & de Meuron, located at 56 Leonard Street in Tribeca, was fully sold, shortly after its critically acclaimed opening in 2017.

It’s just beautiful. It has an amazing lobby, it’s right in Tribeca. It’s got a beautiful art installation outside. It’s just gorgeous. The windows in the apartments are all floor-to-ceiling. Most of the apartments have at least one outdoor space. It just looks like when you see one of these movies when you see a successful person in New York, they would live in a building like this, you know? I just love it. All of the amenities. It’s just fabulous. It’s quintessential fabulous New York, if you will. You’re in there, and no one can see in because the next building is so far away, you’re so high in the sky, it’s just beautiful- I really like it, I love it actually.

Any Last Tips?

I think it’s important for people to know that they really should work with a good real estate agent. Real-estate agents are quintessential in helping someone find their place to live, renting or buying or selling; it’s our job. Most successful real estate agents, successful ones that I know, myself included, we work seven days a week. We are really in the market, and we know what’s going on… you do yourself a disservice by trying to figure something out by yourself, [as agents] have all of these inside secrets and tips and tricks. It’s almost like going to court without a lawyer – representing yourself is not a good idea.

We’re helpful. Find a good one, not saying just pick anyone, find a good one that you like and you jibe with and let them help you find something in the right apartment for your price range, all the amenities you need. We also renegotiate for clients, a lot of clients don’t know that, we have relationships with management and landlords and we can say ‘hey, I need a couple of hundred dollars off.’ People don’t know that but I can do that and I do it all the time. I’m bringing multiple clients, they’re only bringing themselves. By bringing multiple clients to the table, agents like Meerschman are sometimes able to negotiate lower prices or other favorable conditions on behalf of buyers and renters.

We’re here to help.

I asked Chimere if she had any recommendations on places to start one’s search for a quality real estate agent.

You know that Corcoran is a reputable real estate firm. You know RentHop is reputable, they’re like the #2 place to find an apartment. A lot of people [agents] are going to respond to you, but sit down and interview them, say, ‘I need this, this, and this, can you help me?’

You’ll know if that real estate agent is a fit, and you’ll know if they’re not. Nothing wrong with talking to a couple of people and saying, ‘Hey I found someone I like, and I want to work with you.’ And you tell them that, tell the real estate agent, ‘I want to work with you exclusively.’ They’ll be happy, you’ll be happy, and it will be a great situation.

The post Chimere Meerschman, NYC Real Estate Agent, On What You Should Get During Your Apartment Search appeared first on CitySignal.

A few weeks ago, the team at CitySignal profiled The 44th Annual Housing Tour hosted by the Brownstoners of Bedford-Stuyvesant, an organization with more than 40 years of experience uplifting and protecting the communities of Black Bed-Stuy. As the tour continues through its end date on December 11th, I spoke with Shayla Mulzac about her experience as a young home-buyer and first-time renovator. In our conversation, we talked about the future of Bed-Stuy and the Brownstoners as well as her journey with the renovation, gathering some useful tips for future homeowners and renovators in the process.

The Newest Brownstoner of Bedford Stuyvesant

“This year’s tour is going well!” Shayla was proud to announce, “but people can continue to buy tickets up until December 11th. That’s when the link will no longer be available.” Mulzac estimates that at the time of our interview, the Brownstoners had received approximately $4000 worth of ticket sales.

“We do this every year except 2020, of course; prior to 2020, we always did it in person. I’ve been in a home that’s been participating in the tour […] at least since I was seven years old.” She went on, “As a child too, I used to think these homes were so beautiful and the owners were such people I would look up to like ‘Omigod one day I definitely want to own a home and be able to put my home on the tour as well; so I’m glad we’ve come to this space, you know?”

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Homeownership is a focal point of the Brownstoners of Bedford-Stuyvesant’s mission, especially for Mulzac, who has been at the core of the movement since a young age. She went on to speak about why that mission matters more than ever before,

“I am technically on the outskirts of Bed-Stuy. We’re trying to figure out how to preserve the life of the organization of the Bed-Stuy Brownstoners because, due to gentrification and people getting older, the lifeline of the org is dwindling. People are getting older, moving out.”

“I’m actually the youngest member [of the Brownstoners], so if there’s no one to follow me, how is the life of the organization going to sustain itself? So that’s an unfortunate situation.”

She clarified, “Not many brownstoners end up losing their homes,  but everybody’s situation is so different. The point I’m trying to make is that the organization may not have many more years of membership because in Bed-Stuy, not many of the homeowners are Black anymore, and many of the people moving in are not black homeowners.”

This is evident in the fact that in 2000, around 75% of Bed-Stuy identified as Black, while in 2015, that number is only about 50%. This transition is helped along by Urban Renewal, Blockbusting, and natural migration.

The Brownstoners of Bedford-Stuyvesant considers themselves to be a “Hands on organization,” and with their 44th Annual Housing Tour, “Preserving Our Legacy, While Embracing Our Future,” they further their mission which includes ‘helping to revitalize the Bed-Stuy community through building a strong base of Black home-owners in the area.” Bed-Stuy, a historically Black neighborhood, has seen a major shift in its demographics in recent years, with Black homeownership at a historic low. Outside real estate investors have moved into the area, buying homes en-masse to be repurposed as apartments, business space, or other building developments; to many, this is a tell-tale sign of gentrification.

“I’m actually the youngest member [of the Brownstoners], so if there’s no one to follow me, how is the life of the organization going to sustain itself? So that’s an unfortunate situation.”

 

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Three Tips for Young Home Buyers from a Young Home Buyer

As a young home-buyer fresh off a hundred-thousand-dollar renovation, Shayla was fully prepared to share point-by-point advice she had for others who wanted to do the same.

“You know, I get asked [for tips] a lot actually, and everybody’s situation is so different.” Shayla reiterated, “Depending on location, what type of home to purchase, whether you’re married or not; so many different variables to buying a home that’s different for everyone. But I think I realized three things that are kind of standard no matter what your race, age, etc; it may vary, you may have more if you’re a particular age, but, I believe these are three things that really make homeownership easier.

Go “Turn-Key” or Go Home

“Whether it’s a condo, coop, two-family home, three-family home, apartment building complex, anything, If you don’t want to do a lot of renovation, get something that’s “turn-key.” Turn-key means that you can walk right in, and it’s newly renovated and doesn’t need any work or very minimal repairs. You can walk in, move your stuff in, move your renters and your tenants in – that would be an ideal situation.”

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Renovating a home can be expensive, time-consuming, and a potential money-sink for first-time homeowners, and Shayla recommends avoiding it if you’re not comfortable with the process.

“It’s different from person to person, so it varies a little bit; if someone my age wanted to get something that’s brand new it’s going to cost way more than a fixer-upper. That’s how the factors become different and people do what works for them, but it would be ideal if you didn’t have to go through all those renovations; because I just finished a renovation process and it’s just a headache.” Mulzac was beginning the process of renovating her home during 2021’s annual housing tour, having completed it in time to be featured this year: She’s fresh off the experience.

How much money do you need for closing costs and renovations? Money is the name of the game

“My second tip is if it’s not turn-key and you have to go through renovations, have money in the bank. People who are my age, my friends, ask too, ‘so how much should you bring to the closing table? How much should I have in my savings?’

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Shayla looked to her own renovation process for an answer, further elaborating, “Now that I’m a year past closing, I give people my real raw numbers, so they have a better idea of the ballpark I guess.” Mulzac began renovations in January 2022 after closed 2 months prior in November of 2021. Looking at her credit card statements, Shayla shared that she had spent approximately $85,000 throughout the process with her own home.

“So it’s safe to say if people want to get into the renovation process, I‘m thinking at least $100,000 in your account. If you’re going to be renovating, doing floors, doing fixtures; you just want to be comfortable. You don’t want to be stretching your last penny up until foreclosure, and you haven’t even really moved in yet. So let’s just say 100k just to be safe.” The process can be deceptively expensive, she went on, “Furniture, like couches and chairs and microwaves and countertops and tiles; everything costs so much money.” Mulzac was quick to add that the $100,000 she recommends having at the ready doesn’t include money for closing, down-payments or closing costs, “that’s something else, a whole ‘nother branch on this tree that you could get into.”

Build your community before building your home

“If you don’t have a lot of money in the bank,” Shayla continued, “I would recommend having a team that will do work for you preferably for free, or for super super cheap.” Again, Shayla noted the difference in situations across the board for potential renovators, offering her own as an example “For me, my dad, he owns a lot of property in Brooklyn. He has contractors on different projects around Brooklyn, he does big projects. He’s ten times bigger than me.” Shayla utilized some of those resources in the process of her own renovation, smartly cutting costs.

“Not everyone has that opportunity or that privilege or that resource, but if they do, ideally have someone do some work for cheap, a handyman, maybe a task rabbit, someone who wants you to win.”

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Mulzac stressed the importance of having the support of a team or the community, filled with people you trust. “Someone who’s not going to try to get one over on you, run your pockets up, that’s my third recommendation; having a team that’s really invested in you. Maybe it’s your parents helping you out, maybe it’s your handyman who can do some things for free. Have a team that’s willing to see you win and invest into it with you to help you out, because it can be so expensive.” But again, everyone’s situation is very different;

“Everyone’s lean-on person is different, their team is different, their tribe may be different, but you should have something, someone willing to go to bat for you.”

Surprises and Challenges of First-Time Renovations

Full-scale renovation is not an easy feat, and Shayla had her own fair share of surprises and challenges to overcome during her own process.

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“Honestly, I’m thinking – I didn’t know how much work needed to be done behind the walls. So when I first did a walkthrough, the first tour of the home, everything looked so perfect, everything looked so beautiful. Nicely furnished and it wasn’t even staged, it was all real furniture from the people who lived before – of course they took all of those things with them but it just looked nice! I thought there’s no way a lot of work needs to be done.” But Shayla soon made a sobering discovery.

“As soon as I started moving in, I didn’t start living there till August. So I closed in November, then in December and January my dad and I are feeling out the place, seeing what’s right and what’s wrong; we realize that so much work needs to be done! And you may not know these things if you don’t have a team. For example; outlets. It’s ideal to have outlets in certain places; by your bed, behind a picture frame, where you want to mount a Tv. Certain things you want that make sense to make your house a home, those come up.” But that was barely the worst of it according to Mulzac.

“There was a rat infestation on the first floor, under the floor.”

Luckily, rodent complaints are down from last year in Bedford-Stuyvesant so hopefully this will be a worry of the past for her.

“Just a lot of things, our tenants space downstairs didn’t have a closet; if I want to rent that out to a tenant at a maybe higher rate I should fix that up, put a closet down there, put a washer and dryer down there.”

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Shayla went on to expand on the hidden expenses behind the walls, “I installed a washer and dryer, but where the washer and dryer went there was no plumbing for a washing machine in that location; so a lot of things like that came up as I was going through the renovation process, and it all tied back to money.”

Lighting, plumbing, electrical, according to Mulzac every single room had something which needed to be attended to.

Aspiring to Inspire

“The feeling that I did it, the feeling that it’s possible.”

Curious after hearing about all of the challenges that went into her renovation, I asked about what parts of the process Shayla most enjoyed.

“I want to give a good answer, I think my favorite part is the overall satisfaction throughout the whole thing, and that feeling still stands today. It’s the feeling I had at the closing table, and I still have that feeling right here right now chatting with you on the phone. The feeling that I did it, the feeling that it’s possible.”

Mulzac isn’t unaware of her legacy and influence on other potential home buyers and renovators.

“I think the admiration I get from other people, doing it at such a young age, it’s so inspiring to so many others. They’re like, ‘well, if she did it, I can definitely do it.’ I just get a lot of wow from other people. I feel like if I’m inspiring you to do it, by all means, use my story, use my testimony and mold it into your own, do what you need to do as well, whatever that may be, because everyone’s story is different.”

Taking Part In The NACA Program

I asked Shayla if there were any last words of advice she had to offer young home-buyers, and she lit up, adding, “I don’t know if I mentioned it, but I went through a program called NACA. That’s what makes it much much easier. I felt the program itself is very difficult, but what makes it different from trying to buy a home outside the program is that you don’t have to come to the closing table with a whole bunch of money. In the beginning, I mentioned having 100k in your account, and that didn’t include closing costs, and down payment, in the NACA program, you don’t need closing costs and down payments.”

 

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A post shared by Shayla Mulzac (@shaylamulzac)

 According to their website, The Neighborhood Assistance Corporation of America (“NACA”) is a non-profit community advocacy and homeownership organization with goals not too different from that of the Brownstoners themselves, that of building healthy, thriving communities in urban and rural areas.

“I came to the closing table with about $40,000 on a $1 million loan; if it weren’t the NACA program I would probably have to come with 20% of $1 Million to the closing table. I highly recommend it; no closing costs, no down payment, my interest rate is only 1%, and I believe the national average is something like 6 or 7%” She’s correct, of course, with the 30-year fixed mortgage rate hovering around 7.08%.

“I felt like it would always happen, though; my Instagram bio has been for like 9 years now “Aspiring to Inspire” I always have an urge to inspire, to be a leader, to be a role model, to promote positive things; so I just knew it was going to happen. I would tell my younger self, “believe in yourself and stay committed, stay committed to it, stay disciplined, and keep going forward. Keep doing it. Keep doing it.”

Tickets for the Brownstoners of Bedford-Stuyvesant’s 44th Annual Housing tour are on sale now and will continue through the 27th of November when the tour ends. Hungry for more of the process? You can check out Shayla’s full renovation below.

Editor’s note: We have updated this article to correct that Shayla’s renovations began in January of 2022 and that the Brownstoner’s last day to purchase ticket sales is December 11th, 2022. 

The post Meet the Newest Brownstoner of Bedford Stuyvesant Aspiring to Inspire appeared first on CitySignal.

Hannah’s Story

Having trained and performed in New York for six summers, the move to the city at only 16 didn’t scare her. Because she graduated early from high school, Hannah was free to live the life she’d dreamed of, which excited her more than made her nervous.

Sure, the move at a young age came with its fair share of challenges, like being unable to legally sign things or go to the doctor, but since when have New Yorkers ever been afraid of a little challenge?

Upon relocating to the city, it was important for her to keep her “why” at the forefront of everything she did. In fact, that is one of the biggest pieces of advice she carries with her for those pursuing their own dreams, especially in the city.

Knowing what your why is and keeping in mind that every day is a choice helps to keep what matters at the forefront. 

“It is so easy to get caught up in the hustle of living in NYC- between work, rehearsals, and the odd jobs to make ends meet, it is so easy to fill your day to the brim.” Hannah goes on to say,  “remember to take moments to enjoy life and recognize that every day you are choosing where you live…the hustle is just part of the process.”

A Typical New York Day for Hannah

Like many New Yorkers, Hannah’s days were filled to the brim but often looked different from one day to the next. Because she was a student studying for her bachelor’s degree and dance, plus working, there were days when she would leave once the sun came up and didn’t return home until midnight.

This busy schedule helped to keep Hannah from feeling burnt out in her apartment. Instead, the space, regardless of how small it was, acted as a reprieve and place to rest her head above all else.

While Hannah’s days usually end late, they also begin early. They often start with: 

• A 6:30 am wakeup call where she walks the dog
• Walking or taking the subway to Ailey (about a 20-block distance from her UWS space)
• Ailey School classes into the late afternoon (ballet, Horton, Graham Technique, Pointe, Composition, Contemporary)
• A mixture of rehearsals, studio time, studying, and work

In addition to attending Ailey School, Hannah also studied online with the University of Tennessee. She was vying toward her bachelor’s degree in philosophy and psychology but has since pivoted to an education-based study plan. Throughout the day, Hannah would work on her degree work. If she didn’t have time between classes at Ailey, she would stay up late at night to finish her coursework.

When she wasn’t schooling or practicing, Hannah was running around the city, making ends meet. Two of her more common jobs included nannying and working at the famed Cookie Do. Nannying included picking up children from school and making sure they got home or to their after-school program.

Alternatively, days at Cookie Do were filled with crafting edible cookie dough in the company’s flagship West Village shop or commuting to pop-ups in places like Bryant Park, Dumbo, and the Upper East Side. When all was said and done, Hannah was working 25–40-hour work weeks in addition to her other obligations.

Though there was limited time for fun, some of her favorite activities included modeling, classes at Steps on Broadway, or going out with friends. By the time the day was over, there wasn’t much more to do than to relax in the spaces she’s come to call home, even if temporarily.

The Buildings She Loved

Did you truly live the New York experience if you didn’t live in at least one (usually more) apartment that put HGTV’s tiny home shows to shame? Unlikely.

For Hannah, the experience of rotating “modest” apartments was all she knew when living in New York. Her experience when it came to choosing real estate was fairly unique.

Most of Hannah’s living situations were made possible by touring dance friends who allowed her to sublet their apartments while they were away. That means consistently revolving around the city, living in places like Washington Heights upon first arriving, the Village, and the Upper West Side.  

Of all the places she lived, her favorite space had to have been the one on the Upper West Side, and for more reasons than one. It was the first New York apartment that was her own – meaning it wasn’t a sublet.

At a whopping 175 square feet, the studio was located on the 13th floor at the corner of 75th and Amsterdam and offered impeccable views of Central Park. The space was just large enough to house a mini fridge, convection oven, and two stove top burners and for Hannah to do the splits and touch each opposite wall of the space.

Despite the small size, Hannah looks back on the space affectionately, continually looking for and focusing on the best aspect of the circumstances.

She describes highlights, including the large window and picturesque views that allowed for warmth to flood in, highlighting the space’s white walls, white granite countertops, and beautiful hardwood floors.

The retro optimism and affection help to certify her love for the city despite no longer being in it.

 

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A post shared by Hannah Hayward (@_gracegirl)

How She Made Her Spaces Feel Like Home

If you find yourself living in an apartment less than 200 square feet (just over the average size of one American bedroom). What do you do to make it feel like a home? Decorate!

Skipping the décor process due to limited space is not recommended if you want to make your house (even if temporary) feel like a home. For Hannah, no space was complete without having some sort of personalization.

Hannah says, “I decorated every apartment I lived in, even if I was only there for a short time. I feel that decoration is integral to making the space feel like your own. At the end of the day, my apartment didn’t feel like home without my decorations… Pictures of family and friends, throw pillows, and my color scheme. I think that decoration is crucial.”

If you’re worried about overwhelming a small space with décor, there are minimalistic approaches to interior design that can make your space feel like your own without being chaotic.

How to Work with Minimal Space

Hannah may have some tricks for you, and you’ll want to listen, especially given the fact that she regularly had family and friends staying with her in these tiny apartments!

When it comes to storage, it’s more than necessary to be creative with your solutions. One trick Hannah used when first moving to the city was purchasing a tri-fold bed.

The multi-functional furniture allows someone to open the device for a double bed at night and to fold it up into a rectangle to be used as a couch during the day.

When working with such tiny spaces, the furniture and storage purchased need to be just as adaptable as the renter. Later on, Hannah made the luxurious switch to a lofted twin bed and stuck that tri-fold mattress under the bed to save for a rainy day, extra seating, or, you guessed it – guests. Living alone meant that any time her family was in town, there would be space for them to crash. As her sister, also a dancer, visited the City often to train, this was an ideal scenario. 

Another choice Hannah routinely made out of necessity was only purchasing what she needed as she needed it. This went for both clothing and groceries. While there are more and more innovative design choices being crafted every year, the reality remains that no space = no space.

For Hannah, that meant only purchasing a week’s worth of groceries at a time and maintaining a seasonal wardrobe. Excess clothing was thrifted or taken to her hometown until the seasons changed, and she switched out her wardrobe again.

How the Pandemic Shifted Her Dreams

New Yorkers know all too well just how transformative COVID-19 was. In the midst of devastating losses and daunting statistics, there were pockets of joy, like in the form of revelations. For Hannah, the pandemic completely shifted her world, much as it did for the rest of the world.

When the pandemic hit and everything began shutting down in the city, Hannah decided to leave. She returned home to Knoxville, Tennessee, where she currently resides. What started as a hopeful one- or two-month hideaway quickly became the new normal.

It was through this move and within the pandemic that Hannah discovered a new course for her life – an equally passion-driven one. The pandemic highlighted Hannah’s desire to connect with others, specifically children, helping them to learn to dance.

This move combines both her long-standing passion for teaching and the thing she wants to spend the rest of her life doing – dancing. Along with this shift was the creation of her nonprofit, centered around providing equal access to arts education for children in her hometown area.

This experience of moving back home and trudging forward helped Hannah, like many others, to realize that “making it” or making a difference is not exclusive to one coast or the other as many believe. Hannah discovered that the impact she made for disadvantaged and marginalized children right in the heart of her hometown is as equally meaningful as the work she did for years in New York City.

Despite being away from the city now, a piece of her will always be New York-based and driven. As the saying goes, “you can take the girl out of the city, but you can’t take the city out of the girl.” Speaking to this further, Hannah goes on to say, “even though I no longer live there, the remnants of the city are still in my bones.”

Hannah continues to sow the seed of ambition, grit, and passion wherever she goes, just as it was cemented in her long ago.

Thinking of Moving to New York? Keep These Things in Mind

Hannah’s story offers a unique perspective into what it means to be a New Yorker, and the experience can vary for everyone. There are plenty of important lessons within her story, and these are some to keep in mind when navigating the city for yourself, especially if you’re a fellow dream chaser.

Things Can and Will Change: Roll with It

If there’s one thing that New York is not, it’s stagnant. New York would not be New York if it didn’t consistently change and reinvent itself. While this happened for Hannah while living in the city, including constantly adjusting to what she called “home,” it also set her on a new trajectory for life.

 

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A post shared by Hannah Hayward (@_gracegirl)

Hannah’s last semester at Ailey was when the world completely shut down. Rather than letting the shifts shut down her dreams, she found new ones and readjusted them. Successfully moving to New York means staying flexible. 

Making the Best of What You Have

Nothing will ever be perfect, especially not in NYC. Though Hannah speaks of her picture frame views of Central Park and the Ghostbusters towers as being close to it, the reality is things are going to be challenging.

In the case of Hannah, revolving sublets and a tiny apartment to call her own were highlights of living in NYC. She decorated and made the spaces her own with the resources she had, regardless of how temporary or challenging it was. Though cynicism is a key characteristic of being a New Yorker, the constant desire to be better and make the best of things is a universal desire behind the façade.

Find Your Purpose

While living in NYC, Hannah discovered how to look like she had a purpose regardless of where she was going or what she was doing. Even if she had no idea what she was doing, she and every other New Yorker were making it seem as though they did.

Sure, this lesson can be chalked up to “faking it until you make it,” but there’s also an important lesson on finding your purpose too. That’s something that has stuck with Hannah today, beyond the New York City limits, and continues to influence her life. Even if someone doesn’t know what they’re doing or continually trips up along the way – stay focused on finding the purpose.

One day, like Hannah, you’ll be able to say, “no matter where I live, NYC will always have a huge part of my history and my heart.”

Interested in following Hannah’s journey? You can find her on Instagram @_gracegirl and support her work as a founding member of Tessera Dance Theater, a Knoxville 501(c)(3) dedicated to ensuring access for all to a world-class dance education.

The post Hannah Hayward on Making it Work in the Big City and Never Taking Things for Granted appeared first on CitySignal.

Hey Daniela! Thank you for speaking with me.

Of course!

So tell me about yourself. How did you get into real estate?

I am 22 years old. I’ve been in real estate for about 9 months now and loving it so far! I have always wanted to work for myself and for a while most of my friends and family would tell me that they felt I would be great at real estate. At that time I was feeling underwhelmed with growth opportunities at my previous job and I really didn’t want to work for anyone other than myself anymore.

I was also new to NYC, which made the shift to working independently a little scary. All of my family and my connections were back in Miami where I grew up. This proved to be a challenge for a short period of time. I also decided I would make this shift while we were still mid-pandemic and during the Fall which is when we usually see the rental market cooling off. 

I had three months of rent saved up when I left my 9-5. Three months to make this happen for myself. My proudest moment thus far, as silly as it sounds, was when I cashed in on my first deal that I did, completely on my own, about 2 months in from when I started.

 

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A post shared by Daniela Roman Lopez (@_daniela.r.lopez_)

That’s not silly at all! If I may, how different is real estate in New York compared to Miami? 

I feel like NY is really so much faster in general and that applies to real estate just like everything else. Property prices are skyrocketing in Miami at the moment which is fantastic for all agents that work down there but I do feel that no place holds greater opportunity than NYC. 

What tips would you recommend to someone from Miami who’s looking to move to NYC? What neighborhoods would you send them to?

It really depends where you come from in Miami and what lifestyle you are looking for. I moved from the suburbs and it was a huge lifestyle change just in general. I opted to move to a quiet neighborhood in Brooklyn to help me adjust. But others may be more interested in a faster pace of living, in which case I would recommend LES or Soho.

Interesting. So since cashing in on your first deal was your proudest moment, what has been the most difficult? What are some challenges to being an agent?

I would say that the biggest difficulty I have faced with real estate is setting up my work/life balance and the uncertainty/instability that comes with being 100% accountable for your income. I definitely got burned out my first few months in. I was working 24/7, I would never mentally disconnect from work. I feel that this comes with the territory of being the only one accountable for your success. 

However, I learned very quickly that running yourself into the ground is not the most productive or effective way to make money. Just like with any job, there needs to be a time where you disconnect. That is something I feel needs to be talked about more in an industry that heavily promotes hustle culture.

How do you think NYC can move beyond the hustle culture that it’s known for? 

I think NYC will always be full of highly driven individuals. There is no changing that and we shouldn’t try to change that. That’s what makes this NYC. However, I think that if we all try to begin appreciating what a break can do for our mental and physical health, we will be on the right track. 

I 100% agree. It must especially be hard working in an industry where age and experience are often seen as major assets. Considering how young you are, how do you stand out from that crowd?

People always seem surprised at my age. I see it only as an advantage. I am only 22 and I have managed to figure out what I love to do & how to profit from it. That’s more than I can say for a lot of people.

Haha it’s certainly more than I could say at 22. Did your age make it difficult to get into real estate?

I feel that my age has made it easier for me to transition into real estate. In a way I had nothing to lose. I feel that your early 20’s are the best time to make leaps in terms of career choices. I have never had someone doubt that I am capable or experienced because I do my best to know my product and what I’m talking about. 

What are some of your strategies when trying to sell a home?

My clients get my absolute undivided attention. To make this possible I only work with a certain amount of buyers and sellers at any given time. Where you may get lost in the sea of many with another broker, making my clients feel heard and appreciated is my top priority.

So you provide a sense of comfort to those seeking to buy? Your clients must really appreciate that. What other strategies do you employ? Does Social Media play a big role in your work?

I feel that social media plays a huge role in all businesses today. Whether you love it or not, no one can deny the incredible power that a brand’s online presence holds. If you want to stand out, people want to get to know you. They want to associate a personality. A face to your service. Social media gives us the perfect opportunity to showcase that.

What social media platforms have you had the most success on? 

I mainly use Instagram for all of my personal marketing. I do my best to keep it personal so that it doesn’t come off as too salesy. I want to leave people the feeling of knowing me on a personal level, not just business. 

 

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Interesting. I like how focused you are on forming a good relationship with your clients. 

In my opinion, we should actively practice becoming more personable. Think of your clients, and treat them as more than a paycheck. Transactional agents only get so far. 

So, what’s your favorite NYC neighborhood? 

Will I sound cheesy if I say the West Village? Truly it is where I love spending time & it’s my favorite neighborhood to work in. If I were to pick a neighborhood in Brooklyn it would be Park Slope 

Neither of those are cheesy! You could probably work in those neighborhoods for the rest of your career. What are your own dreams for your future in real estate? 

My dream is to devote myself to working only in sales full time. As much as I love rentals, the time you get to spend with a buyer or seller really does allow you to get to know someone and become attached on a more personal level. 

In that same vein, what does the future of New York real estate look like to you?

As long as NYC stands, there will always be people who want to live here. We made it through a worldwide pandemic stronger than ever. I believe that the real estate market in NY will always hold new and exciting opportunities. You just need to be willing to adjust to the times we are living in and you will succeed. We are the new face of this industry.

Well said! Daniela, thank you so much for your insight. I learned a lot, and I’m excited that you and your peers will be paving the way for a bright future.

Absolutely! Thank you.

Daniela, and others like her, want to create a kinder, more personal real estate industry in New York City. What struck me were the words, “get lost in a sea of many.” I think everyone in the city can relate to that. Feeling like just another number for a commission is very off putting. The industry definitely needs the care and personability that Daniela is providing. Buying a home isn’t easy. However, with people like Daniela Roman leading the way, New York real estate can transform from an intimidating industry, into an exciting adventure toward your dream home. 

The post The Innovative Youth in Real Estate: Daniela Roman appeared first on CitySignal.

The real estate market in NYC is still on the rise with no end in sight. For every apartment, there’s a dedicated team trying to fill it, and let someone live their Big Apple dream. A lot of technique and finesse goes into these sales and each real estate agent has their own style, strategies, and philosophies when it comes to selling. Jessica Peters is one of these versatile real estate agents. She was kind enough to sit down with us and speak about her history in the business, as well as her tricks of the trade.

Hey Jessica! Thank you for speaking with us.

Of course!

So how did you get into real estate? What inspired you to make this a profession?

I’ve always admired architecture and design. Real estate provides the creative platform for me to immerse myself in both arenas. 

Interesting. So it’s more of an art for you. Is that what sets you apart from other agents? 

Partly. Consistency and the ability to solve problems also set me apart.

So putting in a lot of time with clients? I bet they love that personal attention. What’s your favorite neighborhood/borough for showings.

I have a few. Williamsburg, Bedford-Stuyvesant, Carroll Gardens, Park Slope, and Greenwood.​ Brooklyn has a fun market right now.

I sure love it! What has been your proudest moment during your career in real estate? 

Building the Jessica Peters Team. It was a process to say the least! I slowly built my team over the course of 5 years. We started small and expanded as the team grew. Without the them, I would not be able to run ​efficiently and effectively while providing great customer service. 

I love that. It really does take a village. In that same vein, what was your favorite building to sell for? 

585 Union Avenue, Williamsburg. No question. The property was built with 100% ICF construction, which reduces noise from the exterior and provides more efficient insulation. I love eco-friendly builds.

Do you think the city is heading in the eco-friendly direction? 

That’s the hope! With a gas ban as of 2024 for all buildings above 7 stories, it appears that New York City is heading in that direction.

I’m sure your clients do too. What advice can you give to those seeking to buy a home in NYC? 

Be mindful of interest rates as they continue to increase. The average buyer loses approx. 12% of buying power for every rate point increase. Also, for eco-friendly housing, It’s more expensive to build, so it will be more expensive to purchase. However, the benefits of a better build will allow for longevity of the product and keep monthly utility bills lower.

What would you recommend buyers look for when apartment/house hunting in NYC?

Look for the things you DO NOT want. It’s easier to identify what is right for you once you know what the deal breakers are. AND the property doesn’t have to be perfect. YOU can make it perfect.

I love that. What do you think is in store for the future of NYC real estate? 

Better construction, stricter building guidelines, higher interest rates, and market stabilization…Hopefully.

Very fair. Well thank you again for answering my questions!

Of course! My pleasure!

Attention to detail, customer satisfaction, and a love of the work are Jessica’s philosophies, and they are important ones to believe in. As time marches on, more sustainable builds and guidelines will shape the city. Add some artistic flair, and soon we’ll have an NYC that’s green and gorgeous. People like Jessica will help pave the way for that future. 

Currently, Jessica has 27 active listings throughout Brooklyn. From one bedrooms to townhomes, there’s a lot of exciting inventory coming from this broker and her team!

The post Jessica Peters Talks Real Estate and Eco-Friendly Properties appeared first on CitySignal.

But what about the future of real estate agents? In the past, the old guard have been the ones in the business for years, closing deals by subsisting on referrals. Minimal marketing is needed.  Now we’ve entered into a world dominated by the underdog like the TikTok entrepreneur, the Serhants, and the Eklunds who have now come from behind with the zeal and determination needed to make it in New York City as a top agent.

Everyone can agree that the future of real estate is already the present. Wait too long, and you’ll have missed your opportunity. 

Bring On the Next Generation of New York Agents

There’s no doubt that the real estate market in New York City this summer is shaping up to be a scorcher, and the rental market is no exception. With 62.9% of the available housing stock in the city dedicated to rentals, a city mostly recovered from the pandemic, and international borders open for students and tourists, one can expect to see the same heat in the rental market as sales. 

Steven Clair, real estate advisor for the Heydt Compass team, also known as “The Millennial Broker,” has found a way to both take advantage of the impending rental rush and capture the new agent energy by expanding the team. Clair has an extensive rental portfolio of buildings and private owners and brought this to mix with broker Alex Heydt’s vast reach and large platform with multi-million dollar listings. Between the two, they’ve set up a powerhouse machine designed to service a wide variety of New Yorkers and soon-to-be residents. Just take a look at their most recent historic listing in Greenwich Village, 29 Downing Street, the former home to Aaron Burr. This isn’t exactly low-level stuff.

Clair has recently brought on two agents, Chris Sanchez and Andrew Arrigo, to give his team more breadth and perspective. In a world where youth can be underestimated and brushed aside due to lack of experience, Clair knows that what these agents lack in years, they make up for in drive.

A Cut Above The Rest

Both Arrigo and Sanchez shared that they were the ones who sought out working with Clair. Since many in their individual circles knew of or followed Clair on social media, they knew they wanted to get involved with the team. Getting an opportunity to pitch yourself is one thing, but proving your worth is another.

“The thing that agents need to understand is you put in the work. Overtime upon overtime. It’s the experience that holds value. It’s not a monetary value. It’s a consistent learning experience,” Clair says about the younger agents wanting to work with him. But don’t misunderstand, these agents aren’t working for free, they’re cashing real checks. On top of dealing in rental properties, the team has Sanchez and Arrigo working on listings under a million, like ones similar to 140 W. 10th, to wet their palate and get them ready to jump in deeper.

There is no doubt that these two agents are ready to work. Arrigo’s goal is to be able to do everything himself and not have someone hold his hand through the process. (If you’re not familiar with the process of renting or buying a property, just know it requires endless documentation and shrewd action to even get a chance to be considered for the listing in question.) He eventually wants to move fully into sales, spread the right business to his team, and help them take over the market. 

For Chris Sanchez, the goal is less clear, but as someone who likes to try a variety of things (a true entrepreneur) and has started his own clothing brand and had a successful sneaker reselling business, he’s not one to be a passive worker. “I don’t give up on something unless I’ve killed it. I don’t have it in me. You’ll know when you’re done,” he says about his future in real estate. 

Sanchez has been attached to real estate since high school. Through Project Destined, an organization designed to teach students about investing and other professional skills in a Sharktank-esque setup, he’s been pitching real estate to investors like JLo and Arod. This meant that the second he had the chance to get his real estate license, he jumped at the chance. 

Age hasn’t gotten in the way of clients wanting to work with Sanchez. In fact, it makes it easier for many of his clients to relate to him instead of an out-of-touch broker looking just to close a deal and move on. Usually, clients will remark, “that’s crazy! That’s dope.” when finding out that he’s closer in age to the iPod than the first PC. 

For Andrew Arrigo, getting started in real estate seemed like a natural progression for a career change. After working in cyber security right out of college, Andrew found himself in a walk-up studio apartment in a quickly emptying city. The pandemic cleared out the community of New York City, but Arrigo quickly found joy guiding his new neighbors through the complicated system that can be apartment searching. Everyone he met had moved from out of the city and knew no one, and for him, he thrived off of helping them in their home search, even going as far as to join them at open houses or take videos for them. Another entrepreneur, like his new teammate, Arrigo has dabbled in the e-commerce space, which made the entrepreneurial career of real estate agent the perfect fit.

Not Just Here To Cash A Check

Most interesting when speaking with these two agents is that they are both so guarded with their accomplishments. Both required a bit of prodding, and even so, they spoke of their achievements and joy of helping others through apartment hunting in such a casual manner that it seemed they felt it is so commonplace that everyone is doing it. These two agents aren’t focused on the past and how they got to where they are but are ten steps ahead thinking about their next move. In fact, one of the things that attracted Arrigo to want to work with Clair was that he is where Arrigo hopes to be in ten years, but let’s be honest, it’ll probably happen in less time.

Sanchez has been impressed by how Clair and the Heydt team make the clients feel like they are the center of everything. There is a transparency that is appreciated when the clients know everything about the process. They leave with a great experience. “Agents want to get you in and then leave,” he says when referring to agents’ desire to just cash a check and move on to the next client. Things are seamless and comfortable. The mission with the renter doesn’t end with the closing. This is a “service-based business, even if they never come back, knowing we got them into a home that they love [and] seeing people’s faces light up” when they find the home of their dreams.

The Renter Becomes The Buyer

Why is the approach by Clair and the Heydt Team so smart? At a recent Inman conference in NYC, prop-tech company RentSpree hosted a lunch and learn where the speakers emphasized the importance of not ignoring the rental market. “The renter becomes the buyer” was thrown around, and it couldn’t ring more true. Even Arrigo sees the potential for working with the renter as an opportunity to network now, “people are still renting. They don’t want to take out a mortgage.” With demand in the rental market at an all-time high and inventory at a massive low, it’s a tough situation “finding the clientele that is going to be able to find things they want to buy,” Arrigo says.

It’s no secret the current rental market is tricky to navigate. Everyone and their mother is shocked by the rates being given for lease renewals. The occurrence of buildings that offered concessions during the pandemic has drastically faded into oblivion. Places like 88 Leonard Street, which offered 4 months of free rent previously, now have 1 beds for $5,500 with no sweet deals in sight. In Brooklyn, the landlord concessions fell to its second-lowest level in four and a half years, and in Queens, it was the second-lowest in five and a half years, according to Douglas Elliman. The neighborhoods like Greenwich Village, NoLita, SoHo, West Village, and NoHo that are currently seeing a massive jump in renter interest are also the ones that saw the biggest migration and vacancies in Q1 2021 during the pandemic, according to the RentHop Q4 2021 rental report. 

Many people are being priced out of buying as interest rates are at the highest they’ve been since 2009. To put it into perspective, a two percent rate increase for a $300,000 home (not that there are really any of those in Manhattan) can increase monthly mortgage payments by more than $500. So while the renter is being cast aside by many agents, thinking about the future and branding as the client’s agent is important to ensure that a lead for a renter in the present turns into a multi-million dollar closing in the future. This is how industry domination occurs.

In 2021, 156,000 people in the US got their real estate licenses, and with only 1 in 10 agents succeeding in the industry, the competition is cutthroat. Thousands of people work as real estate agents in the city, and as Arrigo says, “as nice as everyone may seem, they are all working against each other.” This means branding is so important to stand out and make yourself known. There are many fish in the sea, but there are even more brokers in New York City. 

Looking Ahead With The Team

Branding is a strong part of the Heydt team, especially where Steven Clair, “The Millennial Broker,” is involved. While both Arrigo and Sanchez are still working on their own personal brand, it’s hard to ignore the fact that they’re creating a name for themselves and their team as being altruistic and client-driven.

Of course, to get the full benefit of their expertise, you will have to work with them, but for now, keep in mind this advice regarding the current New York City rental market that’s all demand and little inventory.

“People coming into New York think they can have everything but realize they can’t. Everything is give or take,” Sanchez says. This means if you’re dreaming of a spacious apartment in Tribeca with a washer and dryer, doorman, and fitness center, for under three grand and rent-stabilized, you’ll need to curb your expectations. 

He also shares that if you’re looking for a place to start your search, go internal and consider “what do you like in your community? Try to replicate that.” And if all else fails and you’re still not finding a place that suits you, go uptown. 

The post The Next Generation of NYC Real Estate Agents appeared first on CitySignal.

“With the advent of social media, wider audiences are being reached, so I encouraged my clients to make the bid they thought would get them the home since there wasn’t too much time for a negotiation,” says Lisa Sulfaro, a real estate agent with Corcoran. She recently used TikTok to help sell a home. Although the buyer didn’t come from TikTok themselves, she says advertising on the platform helped her reach a wider, more diverse audience. This audience is younger than most of the people agents meet the old-fashioned way. 

@lisasulfaro800 #gobestfriend #crownheights #crownheightsbrooklyn #crownheights2 #3bedroom #selling #buying #buyingahouse #fyp #tiktokrealtor ♬ TWINNEM – Remix – Coi Leray

Hector Miranda of Centennial Properties echoes this notion. “The benefit to advertising on TikTok is that short-form content is booming right now,” says Miranda. “The other benefit is that, if you find a way to deliver apartment tours in a fun, quick, and efficient manner, the good feelings you give off can rub off on the client and make them want to work with you.” These tours are an important aspect of these videos. They are usually very quick tours, most under a minute. They can be silent with music underneath them, or the agent can describe the space as the walk-through is occurring.

@hm.realty West Village Gem. Rent Stabilized! #nycapartment #realestate #fyp #nyc #westvillage #nycapartmenttour #newyork #realestateagent #dontjudge ♬ Funny Song – Cavendish Music

 Talking while doing the walkthrough is a great skill, as Cam Wenrich, a relatively new name in the real estate game working for Douglas Elliman, explains, “What’s great about TikTok is that if you consistently create quality content and use the right hashtags, the algorithm will eventually reward you. Someone—sometimes many someones—WILL see your content even if they don’t follow you.” That last part is the most important aspect of those advertising homes on TikTok. If you use a trending hashtag, even if it doesn’t have anything to do with real estate, people will see it just because it’s extremely popular. The question is, who are the people seeing it?

@camwenrichde Penthouse R @ The Grand Madison #realestate #nyc #penthouse #luxury #milliondollarlisting #views #newyorkcity #fyp #foryou #douglaselliman #manhattan ♬ Sunroof – Nicky Youre & dazy

 “The issue that I’ve been finding is that TikTok is heavily saturated with kids who like looking at pretty condos but aren’t old enough to purchase property.” Say Wenrich. Miranda agrees saying, “I hear that people get clients organically through TikTok but for sales it’s far and few between depending on exposure.” This is most likely due to the younger audience on TikTok, many of whom aren’t even old enough to buy a home. The exposure is nice, but most sales are still through brokers and realty sites like Zillow and RealtyHop.

Even so, more and more agents are using TikTok to garner attention and grow their prospective clientele. “People all over the world are interested in what’s going on in NYC. Just living here is an advantage for gaining a following—you have a whole city of opportunities for creating content.” Says Wenrich. Miranda agrees, “Social media and marketing is going to continue to become more and more important for every agent to embrace. If you haven’t started taking videos of every apartment or property you step foot into for marketing purposes you’re gonna fall behind and lose out on deals.” 

The post Real Estate and Social Media: How TikTok is Changing NYC Housing appeared first on CitySignal.

Thank you for talking with me today Leonard.

Of course! And please, call me Lenny.

You got it, Lenny. First, how did you get into real estate? 

I previously worked in public relations for a high-end fashion brand and always wanted to move over into real estate. In 2005 I decided to make the jump and have never looked back. Since then, I’ve had a successful career in the residential real estate market managing sales for new condominiums and rental properties for top owners and developers across New York City. I appreciate how multi-faceted my job is and how it changes from week to week. I’m firmly committed to delivering the highest quality developer/owner representation along with exceptional guidance, leadership, and results for both developers and buyers alike.

Having sold over one billion in real estate throughout my career and led sales efforts for 15 unique luxury development projects, I’m attuned to what it takes to build and market luxury real estate brands and achieve project success. Working side by side with marketing and sales teams I’ve developed winning lifestyle branding and promotional strategies to generate the necessary exposure, buzz, and excitement to drive sales. With extensive knowledge of the real estate market and a deep industry network to leverage, I’ve consistently delivered results on or ahead of schedule at record-setting prices for both sales and rentals.

Sounds like you really have that New York City hustle! Is that what sets you apart from other agents?

My sharp focus, determination, motivational leadership, and ability to build collaborative business relationships with both buyers and developers help me stay ahead. Really understanding what buyers want and my commitment to helping them find their dream home, allows me to deliver on commitments, operate with a strong sense of urgency, and ensure all business activities are focused on one clear objective — earning top dollar for owners and developers — and doing so quickly. I orchestrate, and closely manage, progress to ensure transactions are executed as seamlessly as possible and results are achieved. While being results-oriented, my many years of experience informs my approach to client service, and I try and make each step of the buying process as easy to understand for both first-time and experienced buyers. The more empowered and knowledgeable all stakeholders are the better.

I think we can all agree with that. What’s your favorite neighborhood/borough for showings?

NoMad! I love taking prospective buyers on tours of Madison House and up to see the great views of the NYC skyline. The beautiful views always impress prospective buyers and immediately get their attention, especially the views across the Empire State Building. It is also fun to show prospective buyers a view of the New York City that they have never seen before but Madison House takes that to a whole new level.

That’s so cool! So is that your favorite building to sell for?

Absolutely. Taking prospective buyers up into Madison House to see the fantastic views, never gets old.

You seem to truly love what you do. That’s an important quality for someone who wants to be successful. What has been your proudest moment during your career in real estate?

My proudest moment since I began working in the real estate industry has to be when I was selected to lead sales at Madison House, a year in advance of the official launch! Being asked to do so was a very humbling experience and I’ve loved working on the project ever since.   

What advice can you give anyone seeking to buy a home in NYC?

Before starting the process, I think it’s super important to educate yourself about the process for buying real estate in New York City and the various steps involved with purchasing a new home in this city. More generally, I also think it’s important to familiarize yourself with New York City, the city’s many different neighborhoods and start to really dig into what you’re looking for in your next home and neighborhood. The more you know, the better.

I agree completely. What do you think is in store for the future of NYC real estate?

I’m excited about the future of the NYC real estate market. In 2020, people were quick to share grim predictions about the New York City real estate market and its ability to navigate uncertain times and two years later the market, and its continued strength and resilience, has disproven that.

While I can’t speak for other projects, given the current demand we’re seeing at Madison House, I’m optimistic about what the future holds. Madison House recently passed over 70% sold and we’re trying to keep up with demand from potential buyers who want to schedule a sales appointment and come and see the project in person. Potential buyers are moving quickly across the market to find their future home and invest in their future in New York City.

Pricing for an available residence at Madison House begins at $3.225 million. For more information or to schedule a private appointment with a member of the sales team you can visit Madison House, view Lenny’s open listings, or find information on most listing sites.

Leonard Inzirillo is a champ when it comes to his craft. However, he reiterates the importance of researching these homes and the city before you buy. Knowledge is power, and once you attain that power, the city is yours for the taking. So get some of the New York Hustle in you and hunt for your dream home in the Big Apple!

The post Sitting Down with a New York Real Estate Agent: Leonard Inzirillo appeared first on CitySignal.