Including nuance to our weekly Groups Beat e-newsletter, January is Groups Month at Inman. Discover out for those who ought to be part of a staff, what it takes to construct one from scratch, and when to contemplate leaving. Plus, the coveted Inman Energy Participant Awards in addition to the second class of New York Energy Brokers and MLS Innovators awards.
The award-winning Chestler Jacobs Staff, led by Jessica Chestler and Ben Jacobs, focuses on luxurious actual property companies throughout New York Metropolis; Brooklyn, New York; South Florida; and The Hamptons. Their partnership over the previous 5 years has allowed them to place their lifelong ardour for actual property to work for purchasers in a few of the nation’s most fascinating markets.
TAKE THE INMAN INTEL INDEX SURVEY FOR DECEMBER
Find out how this award-winning staff received began, the place they’ve been challenged and what they’d recommend to different groups and staff leads simply beginning out.
Staff Identify: The Chestler Jacobs Staff at Douglas Elliman
Title: Ben Jacobs, licensed affiliate actual property dealer and Jessica Chestler, licensed actual property salesperson
Expertise: 20 years
Location: New York, New York, and Miami, Florida
Brokerage title: Douglas Elliman
Gross sales quantity: $2.5 billion
Rankings and awards:
2024 Ellies Awards for The Chestler Jacobs Staff
- Pinnacle Award: Prime 3 % of brokers nationwide
- No. 4 small staff (quantity)
- No. 8 small staff (GCI)
- No. 11 small staff (transactions)
Ranked in 2024 RealTrends Verified Prime Brokers and Groups
2023 REALTrends + Tom Ferry America’s Greatest Actual Property Professionals
What do you want extra folks knew about working in actual property?
Jess: It’s not straightforward. It would seem like enjoyable — and quite a lot of the time, it’s — however doing it on the stage prime brokers do is a 24/7 job. It may be powerful on private lives as a result of it’s not a typical 9-to-5 position. That stated, it’s extremely rewarding.
The rationale it’s across the clock is that you must be obtainable when your purchasers are. There’s typically a notion that it’s all about huge commissions with minimal work, however in actuality, our days begin the second we get up and don’t finish till we fall asleep.
Even when our journeys seem like holidays, we’re normally working in some capability.
How did you select your brokerage?
Jess: Ben and I didn’t be part of Elliman collectively, although we had been each interviewing across the identical time and had related targets for our careers, which led us to the identical place.
Personally, I noticed it as an incredible alternative to increase my community into different top-tier cities, which has been invaluable for my purchasers. We’ve constructed robust relationships with brokers in each main metropolis, and that’s been an enormous asset.
For Ben, the main target was on South Florida and Elliman’s robust presence out there. Since partnering 5 years in the past, each of those components have been extremely necessary and useful for our enterprise.
How did you get your begin?
Jess: I’ve at all times had a ardour for actual property. At the same time as a child, I’d ask my mother and father to take me to open homes. However I by no means actually noticed it as a profession possibility at first. I went to high school for sports activities communication and broadcasting, and after graduating and getting job affords, I noticed that wasn’t the trail for me.
That summer time, I used to be serving to my mother and father discover a place within the Hamptons and had organized a tour. Once we met the dealer, they requested how lengthy I’d been in actual property — it was a lightbulb second for me. I went house, signed up for the true property course and the remainder is historical past.
I really feel lucky to have began proper out of school and have had the chance to expertise actual property as a full-fledged profession.
Ben: Actual property has been in my household for over 50 years, with my household targeted primarily on buying residential and industrial properties in Vermont to lease out. Whereas I at all times knew I wished to work in actual property, I didn’t initially see myself changing into a dealer.
After school, I moved to New York Metropolis, the place a cousin of mine was working as a dealer for Corcoran. That sparked my curiosity and motivated me to get my actual property license and provides it a strive. Fourteen years later, I’m nonetheless right here in New York, working as a prime dealer, and I’ve by no means appeared again.
Inform us about an epic fail you’ve skilled. What did you study?
Ben: One of many greatest challenges has been hiring the flawed folks. Constructing a staff is way tougher than we initially anticipated. We’re salespeople, not managers, so studying the best way to handle folks has required a wholly totally different talent set from promoting.
Over time, we’ve realized that hiring the correct folks and fostering longevity throughout the staff is essential to rising each your staff and your model efficiently. It’s not nearly discovering competent, pushed and hardworking people — you additionally want people who find themselves sincere, loyal and open communicators.
We’ve realized that many individuals, like consumers and sellers, typically don’t communicate their minds. It’s the identical with brokers. Staff members should really feel snug citing any points or considerations straight with us as staff leaders. We’re not thoughts readers, so if somebody can’t talk overtly, it’s greatest to half methods sooner moderately than later. In any other case, you’ll waste time down the highway attempting to determine what they need.
What’s your prime tip for newly fashioned groups?
Ben: Our operations supervisor, Haley Ellis, has been with us for a yr and has made an incredible affect in organizing the staff and serving to us rent the correct folks.
Probably the greatest investments a newly fashioned staff could make is to spend the cash on hiring a top-notch operations coordinator to deal with the day-to-day capabilities of the enterprise. This position is essential, but additionally one of many hardest to fill, as a result of it requires a really particular sort of individual.
Managing operations for a residential actual property staff isn’t any straightforward activity — you want somebody who’s extremely organized, detail-oriented, and genuinely enjoys operating the present. Most individuals aren’t suited to this type of position.
We’re doing over 70 transactions a yr, so you may think about how busy Haley is. This place is what is going to aid you scale your corporation and preserve group as you develop.
