Discover out what NYC affiliate dealer Invoice Kowalczuk has discovered throughout his years within the enterprise and what he’d be doing if he weren’t in actual property.
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After 26 years in the actual property enterprise, New York Metropolis affiliate dealer Invoice Kowalczuk has loads of data to share with purchasers as they make key selections. Nonetheless, when he’s not working, his focus is most frequently on health as a option to wind down after a day of deal-making.
“I’m an avid gym rat,” mentioned Kowalczuk. “The gym gives me a chance to unwind and focus on something other than work. I am [also] a road cyclist. Riding for 10 or 20 miles helps me to de-stress after a long day.”
Discover out what Kowalczuk has discovered throughout his years within the enterprise and what he’d be doing if he weren’t in actual property.
Identify: Invoice Kowalczuk
Title: Licensed affiliate actual property dealer
Expertise: 26 years
Location: New York Metropolis
Brokerage title: Coldwell Banker Warburg
Gross sales quantity: Greater than $500 million
What’s one large lesson you’ve discovered in actual property?
Early in my profession, I discovered that this enterprise will be an emotional rollercoaster. You need to maintain feelings in test and deal with making the deal occur. It’s by no means over till either side have signed and a test is within the financial institution.
Whether or not you want or dislike the patrons, sellers, or brokers is totally irrelevant. The primary precedence is to do what must be executed to verify the deal occurs.
Early on in my profession, I used to be all the time excited to get a deal in progress, solely to have it die for one motive or one other. My feelings would journey excessive after which crash. An skilled colleague advised me to manage my feelings till I closed on a deal as a result of something may occur.
As soon as I used to be in that way of thinking, it was all the time simpler to handle disappointments with my purchaser or vendor.
What’s the most effective recommendation you ever acquired from a mentor or colleague?
Maintain displaying that itemizing. It doesn’t matter whether or not you’ve got an accepted supply or a contract out for signatures. You retain displaying that itemizing to potential patrons and current all affords till all the things is all signed and stable.
It’s a rookie mistake to imagine an accepted supply or a contract out for signature ensures the deal will occur.
What would you inform a brand new agent earlier than they begin out within the enterprise?
I’d inform a brand new agent to neglect all the things you’ve got ever seen on an actual property TV present. Actuality is way more sobering. You don’t robotically begin off with million-dollar listings, and it’s uncommon, if in any respect, that you simply work with somebody for a day they usually make a proposal on one thing.
The TV reveals make all the things look approach simpler — promoting an condo with little to no work.
Just remember to can comfortably pay your month-to-month payments for at the very least seven to eight months with the intention to focus in your work and get that deal-making ball rolling alongside. You by no means know when a deal goes to occur, even when you’ve got an accepted supply.
Having sum within the financial institution if you begin is a approach of not having to consider how payments are going to be paid when you’re two to 3 months in and nothing is going on. It’s vital in your purchasers to all the time sense a sense of calmness.
What do purchasers must know earlier than they start an actual property transaction?
Moreover getting preapproved for a mortgage and getting all of your paperwork collectively to make a proposal when the time comes, I believe closing prices would be the largest unkept secret in actual property. I all the time speak with purchasers about what it’s going to value to shut a deal earlier than we have a look at listings. 9 occasions out of ten, the mortgage tax on condominiums and homes shall be a shock.
In the event you may do something apart from actual property, what wouldn’t it be?
I’d be portray, drawing and creating in an enclave with different artists, like Ciudad Colón in Costa Rica or Provincetown on Cape Cod. These locations enchantment to me as a result of they’re on the water (which I really like) and have lots of pure magnificence.
I’ve all the time needed to be free to create no matter I needed with out the standard day-to-day grind.
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