From promoting promoting to getting into the aggressive world of New York Metropolis actual property, learn the way Rachel Glazer overcame lengthy odds with hustle and coronary heart.
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A local of Baltimore, Maryland, Rachel Glazer moved to New York to pursue a level on the Trend Institute of Expertise and, later, labored on the planet of promoting. Her ardour for actual property translated into shopping for and promoting properties and, ultimately, a profession in residential gross sales.
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With no MBA and no connections, Glazer developed an encyclopedic information of Manhattan and Brooklyn. Recognized for her robust negotiating abilities, she has change into a luxurious agent with shoppers like Grammy-winning Mumford & Sons musician Ben Lovett and his companion, Molly Howard, co-founder and CEO of the style line La Ligne.
Title: Rachel Glazer
Title: Affiliate actual property dealer
Expertise: 17 years
Location: New York Metropolis
Brokerage identify: Compass
Gross sales quantity: Over $1 billion in profession gross sales
Awards: Named to the Hollywood Reporter High Dealer Checklist in 2023 and 2024
What’s one huge lesson you’ve realized in actual property?
No deal is full till the cash is within the financial institution! I had no clue what to anticipate after I acquired into the actual property enterprise. Every deal is extraordinarily complicated and requires nice ability and energy to finish. Even after a contract is signed, a number of extra steps exist earlier than it closes.
What did you need to be if you grew up? How does actual property relate to that childhood objective?
I grew up within the Eighties, which was a really completely different time. The true property brokers I knew had been housewives making an attempt to make somewhat cash on the facet. It sounds loopy now, however I didn’t know that girls had careers outdoors of being lecturers, nurses or speech therapists.
Once I graduated school, I labored in promoting for a couple of years. It didn’t take lengthy till it hit me that you simply needed to make some huge cash to dwell in New York Metropolis. I didn’t have an MBA or an inheritance.
Coincidentally, I offered promoting to actual property brokers, a lot of whom had been girls with out MBAs, and a few had been making huge cash. Regardless of not having many social connections, I made a decision to attempt it.
What would you inform a brand new agent earlier than they begin out within the enterprise?
Don’t consider every little thing you see on TV. This isn’t a glamorous job, and there’s no straightforward cash. You’ll have to work nights and weekends and be on name when you actually need to make it.
What do shoppers have to know earlier than they start an actual property transaction?
It is very important be practical. As a purchaser, your finances doesn’t matter — nothing is ideal, and there shall be trade-offs and concessions. As a vendor, the market actually will dictate the value. Brokers can’t manipulate the value, and infrequently, early affords are the very best.
What do too few brokers know that might make their lives simpler?
Get an excellent assistant. Upon getting sufficient income to afford somebody, it’s an excellent funding. In the event you can’t afford your personal assistant, sharing one with one other dealer typically is sensible.
