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 Style Institute of Know-how 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 data of Manhattan and Brooklyn. Recognized for her powerful negotiating abilities, she has develop into a luxurious agent with shoppers like Grammy-winning Mumford & Sons musician Ben Lovett and his associate, 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 title: Compass
Gross sales quantity: Over $1 billion in profession gross sales
Awards: Named to the Hollywood Reporter Prime Dealer Listing in 2023 and 2024
What’s one large 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 obtained into the actual property enterprise. Every deal is extraordinarily advanced and requires nice talent and energy to finish. Even after a contract is signed, a number of further steps exist earlier than it closes.
What did you wish to be whenever you grew up? How does actual property relate to that childhood purpose?
I grew up within the Eighties, which was a really totally different time. The actual property brokers I knew had been housewives attempting to make just a little cash on the aspect. It sounds loopy now, however I didn’t know that ladies had careers exterior of being academics, nurses or speech therapists.
After I graduated faculty, I labored in promoting for a couple of years. It didn’t take lengthy till it hit me that you just needed to make some huge cash to stay in New York Metropolis. I didn’t have an MBA or an inheritance.
Coincidentally, I bought promoting to actual property brokers, lots of whom had been ladies with out MBAs, and a few had been making large cash. Regardless of not having many social connections, I made a decision to strive it.
What would you inform a brand new agent earlier than they begin out within the enterprise?
Don’t imagine every little thing you see on TV. This isn’t a glamorous job, and there’s no simple cash. You’ll have to work nights and weekends and be on name for those who actually wish to make it.
What do shoppers must 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 can be trade-offs and concessions. As a vendor, the market actually will dictate the value. Brokers can’t manipulate the value, and infrequently, early gives are the most effective.
What do too few brokers know that will make their lives simpler?
Get a great assistant. After you have sufficient income to afford somebody, it’s a great funding. If you happen to can’t afford your personal assistant, sharing one with one other dealer typically is smart.
