The Nyc Effect: Lessons From The Nation’s Most Demanding Market

New York City’s fast pace and culture create unique challenges for leaders in every industry, but its demanding nature can serve as a powerful catalyst for growth and success. As a native New Yorker and a real estate leader here for more than two decades, the city’s relentless drive and sometimes unforgiving pressure have shaped my leadership style. The lessons I’ve learned can prove useful to real estate professionals well beyond the five boroughs. 

Here are some key takeaways that can drive any agent’s business and set you apart in any market — whether you’re selling a penthouse in Manhattan or a coastal home in Malibu. 

1. Set a high bar, and meet it every time

New Yorkers are savvy and hold very high expectations. They’re also accustomed to world-class service, having their questions answered immediately, and having their needs met completely. As such, New York agents have to operate at the top of their game every day, and on every deal. One strategy I’ve learned is to match each client’s energy. 

In any market, setting a high standard for service and professionalism for yourself, even one that goes beyond your market or brokerage’s expectations will differentiate you instantly. Know your business and your market, research what you need to know before every meeting, and arrive fully prepared. Then bring that same sense of urgency and polish to every client touchpoint. If you show up like an expert, your clients will treat you like one.

2. Be a relentless learner

In New York, it’s not enough to know square footage and property values. You have to understand the history of a building, the difference between pre-war and post-war construction, the nuances of a co-op board, and how global markets are influencing local inventory. I tell my team that they need to approach their business like a never-ending, immersive learning experience. Clients notice the difference between surface-level service and truly informed advice.

No matter where agents do business, hone your market knowledge and sharpen your skills by reading local and national industry news, as well as economic and business news. Study the neighborhoods within your zip code, and stay abreast of zoning changes and emerging new developments. Agents should understand how school districts, restaurants, walkability, lifestyle amenities, and architectural and design trends shape buyer behavior in your market. 

3. Operate with grit and grace

New Yorkers are known for our tenacity. As a leader, I seek out skillful negotiators with a proven track record of winning for their clients and a reputation for resolutely pursuing their personal and professional goals. We fight hard for our clients and don’t back down from a challenge. But in luxury real estate, your determination must be balanced with finesse.

In this city and in every market, discretion and diplomacy matter just as much as sharp negotiation skills. This is especially true in competitive or high-stakes markets where agents manage significant financial transactions and high client expectations. An agent’s ability to remain composed and service-focused will set the tone for every sales transaction. Your empathy and emotional intelligence are what will set you apart and lead to referral business. 

4. Prioritize transparency

Being a straight shooter has served me well and has led to my professional success. As a native New Yorker, I’m very high energy and direct. I’d like to think that my straightforward approach elicits transparency across my team and in every one of my client relationships. 

I’m always forthright, even when it’s uncomfortable. Serving the client’s best interests with honesty and integrity is paramount, and sometimes you need to have hard conversations. I’ve seen agents who’ve lost a commission because they prioritized telling their client the truth over what they wanted to hear. In my experience, clear and honest communication builds trust and can speed up your client’s decision-making process. 

5. Carve out a niche

As one of the biggest and most populous cities in the world, it’s impossible to be everything to everyone. I encourage my team to pinpoint a niche and then become the very best in it. You may want to combine a few niches, but ultimately, the choice is yours. Having a clear and distinctive value proposition that makes you stand out among the hundreds or thousands of agents in your market is the key takeaway here.

You might choose a property niche, such as dealing in new, luxury high-rise developments or having expertise in probates and trusts. Or you might choose to narrow your focus to a zip code or specific neighborhoods. In New York, some agents specialize in one or more boroughs.

Finally, some agents focus on a client niche, such as first-time homebuyers or foreign investors. While they serve everyone, they expand their knowledge on specific niches. The key is to become the go-to expert in your chosen niche (or niches) to stand out in a sea of multitaskers. 

I may be biased, but I feel that the lessons I’ve learned in this dynamic market are universally applicable: lead with integrity and expertise, stay relentlessly client-focused and be the most prepared you can be.

Juliet A. Clapp is a Senior Vice President and Northeast Managing Partner for The Agency. In this role, she will foster dynamic, growth-focused environments that boost productivity and navigate the challenges of competitive markets.She is a leader in the luxury real estate industry, with over 20 years of experience driving success and shaping the future of top real estate offices.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: tracey@hwmedia.com