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A Note on 2015

24 December, 2014 posted by: Shaun Osher

10_West_10th_Street_TH_01

Looking forward, I expect that 2015 will be a year where the playing field finds an equilibrium between a seller and a buyer. With thousands of new units expected to come to market, and a large portion of that inventory compromised, it will still be hard to find that ‘dream’ apartment in the ‘perfect’ location – so we can expect prices to remain steady.



 

Talk is cheap.

02 July, 2014 posted by: Shaun Osher

Tim Howard

Tim Howard defending the U.S. during this year's World Cup (Image: New York Times)

Anyone (and it seems like everyone) can make a claim to be the best, the smartest, the most effective, or the quickest.  The more social media followers, higher your budget, celebrity status, gimmicks, or press releases you have – the larger your megaphone you have to tout your prowess.

In the beginning of a relationship, perception is reality, and in a strong (and forgiving) market, the honeymoon phase usually lasts a little longer. But….

Results are priceless.

So, when making an assessment about someone you’re about to engage with, check their references and research their results from a less forgiving market.

UPDATE: Congratulations to Tim Howard for quietly delivering the best goal keeping performance in World Cup history.



 

Technology Has No Soul!

18 June, 2014 posted by: Shaun Osher

Find An Architect ipads

It’s just another tool. And I am starting to see more and more real estate sales companies basing their “value add” and business model on superior technology. This is easy to do, because anyone with the right amount of money can buy the right technology. And most competitive technology is readily accessible to everyone at every level. In every industry, the success of a web-based sales company lies in their ability to service their clients. What makes a company like Zappos great is their people and level of customer service.

People have soul. And it’s the soul of the people that lies at the heart of a brand, a culture, and a company that will stand the test of time.

It isn’t the technology that changes the game. It is fundamentally the people using their insight and ability to service the client that is the game changer.



 

Development News: There’s a New Trend in Town

12 June, 2014 posted by: Shaun Osher

New Trend In Town

As the demand for new condos grows, and the inventory shrinks, a number of new buildings that were initially conceived of as rentals are now becoming condos for sale. One such building is 325 Lexington Avenue in Murray Hill. A tall glass building, originally designed and finished as a rental, almost ready for occupancy, will be coming to market soon.

I see this trend continuing as long as the for sale market continues to show strength.



 

Ten: Steve Pak on Transitioning to the Big City

10 June, 2014 posted by: Shaun Osher

Welcome to Ten, CORE founder and CEO Shaun Osher’s rapid-fire interview series with prominent CORE figures. Read on to find out how this week’s subject deals with being on the hot seat.

After getting an early start in the real estate industry, Steve Pak’s passion for the business has translated into a successful portfolio of transactions over the past several years. Now working alongside industry veteran Michael Rubin, he is now looking forward to leaving his mark as one of CORE’s newest additions. Here are Steve’s answers to Ten questions:

1. What did you do before you found this career?Steve Pak TEN
Before I got into real estate, I was a sophomore in college. I got licensed first in New Jersey and worked for about two years while finishing up school.

2. What has been the highlight of your career?
The highlight of my career has definitely been shifting my focus from the New Jersey housing market to New York’s real estate scene and joining CORE. I was given the opportunity to work with Michael Rubin and it has been a great learning experience ever since I came onboard.

3. What is your greatest daily challenge?
The greatest daily challenge I face is probably commuting for about 1-2hours every day. The commute is stressful at times, but it’s worth living in a home with expansive outdoor space.

4. Where do you see yourself in 10 years?
I see myself still involved in the real estate business in some type of way, whether it’s through brokering deals, coordinating new development efforts or managing my own investments.

5. Where do you find inspiration?
I usually find inspiration from people I meet. Everyone has a story to tell and there’s always something to learn from others. Read the rest of this entry »



 

How Do You Get From A to B as Quickly as Possible?

04 June, 2014 posted by: Shaun Osher

Street Parking

One of the greatest daily challenges we have as New Yorkers, especially real estate agents who’s job it is to get from A to B as expeditiously as possible, is “the commute.”

The most valuable items I carry on me at all times are all related to the way I commute, and I value them in the following hierarchy:

1) My comfortable Paul Smith shoes. Walking is always the best way to go, especially if the distance is short enough, and I’m appropriately dressed for snow, sleet, rain, hail or a heatwave. (Sometimes I really miss the weather in South Africa).

2) My MetroCard full of credit, which is worth its weight in gold. Our subway system is fantastic, and by far the most reliable and fastest way to go.

3) My Citi Bike key! There’s nothing quite like a bike ride on a nice day – especially if there’s an available bike to take and an available parking space at your destination. NYC is now one of the most bike friendly cities in the world. Thank you Mayor Bloomberg! Read the rest of this entry »



 

Has the Bubble Burst?

03 June, 2014 posted by: Shaun Osher

Condo Report

Today, I received  an email from a “credible” source with a report that had the headline that reads,  “Condo prices see largest decline in over three years.”  It included some fancy new acronyms, and my favorite stat of all – The Condo price forecast! WOW! I wonder if I can get an alert from them 3 months before the “bubble” bursts.

From where I stand (with all my selling agents), I see a market that has a historically low inventory, incredible demand, and soaring prices.  It is certainly not currently a condo market that is in decline. There really is no report right now that has accurate market snapshot information. There have been many who have tried. Some have even made full time careers out of analyzing data and trends, but none that are really relevant to the current market conditions. The only way to decipher where the market is would be to track the following very simple data that is usually proprietary and not shared on an open platform.

How many contracts have been signed?

What are the signed contract prices?

How many units are available on the market?

How many units are slated to be put on to the market?

We have our CORE Realtime Report which tries to answer these questions, but that too isn’t completely accurate, because we don’t own a large enough market share. We can only represent a small snapshot, which we hope reflects the overall market conditions.

The bottom line is that you need to know the right agent who has enough insight and expertise to advise you accordingly.



 

How Do You Build a Brand?

02 June, 2014 posted by: Shaun Osher

skyline
Slowly!

You can’t buy it. There’s no shortcut! You have to earn it over time with hard work, tenacity, and integrity. All of the most distinguishable, and well-respected brands in every industry (like Apple, 3M, Virgin, American Express and Rolex) have taken years to build. And they have all earned it.

In this day and age of instant gratification there is no magic bullet in our industry. While I believe that a large part of a brand and its identity comes from the people, from the CEO to the mail room, (especially in the services business – like real estate sales and marketing), the track record of those people in the company needs to be earned over time. Almost anyone can throw a huge signing bonus to attract talent, but this can only result in an unauthentic culture: a culture that is driven by an immediate need and not a long-term plan. More and more people are raising money to create the next big thing. Companies who are losing money are being “valued” at irrational levels. We are seeing a paid perception in performance, which does not deliver a tangible result of service, or a brand that will stand the test of time.



 

Ten: Sean Attebury on What Keeps Him Inspired

21 May, 2014 posted by: CORE

Welcome to Ten, CORE founder and CEO Shaun Osher’s rapid-fire interview series with prominent CORE figures. Read on to find out how this week’s subject deals with being on the hot seat.

Sean Attebury’s wide array of professional work experience, in addition to his various passions and skills, make him an asset to CORE’s team of agents. Sean has been involved in several new development projects, including 241 Fifth, and also specializes in resale properties, while his attention to detail has led to his unquestionable reputation for smooth transactions. Sean recognizes, however, that his life can’t be all work and no play. Here are Sean’s answers to Ten questions:

Sean Attebury TEN

1. What did you do before you found this career?

I used to be a Broadway singer. I’ve performed in several world tours as well as a few Broadway productions.

2. What has been the highlight of your career?

Selling out any new development project is definitely a high point in my career. Often, the last few units left in a building are the toughest to sell, so matching a buyer with one of these listings is extremely gratifying.

3. What is your greatest daily challenge?

Turning a “no” into a “yes” for both buyers and sellers. When a deal is in negotiations, finding a consensus between both parties is key. This is different than a compromise, however. In a consensus, both parties’ needs are met.

4. Where do you see yourself in 10 years?

Happy and still involved in the real estate industry.

5. Where do you find inspiration?

I find heroes in odd places – anyone who overcomes a major life challenge is an inspiration. I like connecting with people, so hearing their stories is a reason to wake up in the morning and welcome the day. Read the rest of this entry »



 

Ten: Lawrence Treglia on Brooklyn and “Empty Mansions”

22 April, 2014 posted by: Shaun Osher

Emily and Lawerence

Lawrence with CORE's Emily Beare

Welcome to Ten, CORE founder and CEO Shaun Osher’s rapid-fire interview series with prominent CORE figures. Read on to find out how this week’s subject deals with being in the hot seat.

With over a decade of real estate experience, Lawrence Treglia has helped lead sales at a handful of CORE’s new development properties and is highly respected among the brokerage community. Here are Lawrence’s answers to Ten questions:

1. What did you do before you found this career?
I was mainly in recruitment and corporate human resources. I did, however, work in residential property management during my first two years after college.

2. What has been the highlight of your career?
The wonderful relationships I have cultivated through the years.

3. What is your greatest daily challenge?
Figuring out what to wear!

4. Where do you see yourself in 10 years?
Working hard and actively engaged in real estate. More importantly, I hope  to be in good health, slim and with a full head of hair!

5. Where do you find inspiration?
When surrounded by close friends who enjoy a good story and a good laugh. Read the rest of this entry »



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