I have been waiting for this episode for a long time.
First, a little background: A lot of my business is done quietly. I work with many high net-worth individuals who work with me to buy and sell property in Manhattan, the Hamptons, and Los Angeles very quietly. No press. No listings. Very wealthy people do not need the public eye on their real estate pursuits. Sam, my buyer that was featured in this episode, is one of those types of clients. Because of his busy schedule, I did the deal with his attorney, Marc, who you saw preview the apartment with me. And if it weren't for the show, this would have been a very quiet deal (quiet buyer, quiet listing).
When I called Luis about 30 Lincoln Plaza, I was under the impression that he had the entire building as an exclusive. I honestly didn't realize he only had that ONE listing until after we met. Even then, I knew I wanted to work with him on the deal because I believe in karma. What comes around goes around, right? I can't be successful in this business on my own (that's why I have a team), so I need strong relationships with the brokerage community to assist me. I made the decision after I met with Luis that if the deal went through, I would give him a referral fee. What I ended up giving him, $20,000, was a little more actually. Typically referral fees are 10 percent of the gross commission, which in this case would have been $18,300. What can I say, I'm a nice guy!
I locked in a great deal for my client (the apartment he paid $6.1 million for is now worth about $8 million) and I began a friendship with Luis, which is almost more important to me than the deal. That deal is just a deal, but my relationship with Luis will last for hundreds of deals and it will pay dividends.
Luis is a good guy. Yes, he's young and crazy, but so am I. I think everyone who gets into real estate in New York City is crazy. How many people grow up saying they want a job where they can work until they're sick, be lied to and yelled at every single day, and only maybe, MAYBE, will be paid for their time? NO ONE GROWS UP SAYING THAT.
So cheers -- or, sorry, salud -- to Luis, my peer, my competitor, mi hermano, and my friend. Thank you sir.