NEW YORK EDITION
5 STEPS
How to Recognize
TO ACHIEVE LONG TERM SUCCESS AS A REAL ESTATE AGENT
TRUE LUXURY PROPERTIES Embracing Smart Homes
Does New Technology Really Increase Home Value?
BY THE NUMBERS:
Understanding the True Value of Square Footage
FEATURED AGENTS
NIKKI "G" GRZEGORZEWSKI RAY WU COVER STORY
EUGENE LITVAK
mailto:mag@topagentmagazine.com http://www.topagentmagazine.com
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Embracing Smart Homes:
Does New Technology Really Increase Home Value? Technology and innovation move at a lightning-fast clip, so it can be hard to keep up with all the smart-home trends sweeping the market at a given time. From smart thermostats to security systems accessed through an app on your phone—there are endless options to customize and update your home for the modern era. But which, if any, of these smart home products add 4
value to property in a significant, worthwhile capacity? Especially with new generations of the same products released in quick succession, it can be hard to determine whether it’s worth it to take the plunge. With that in mind, we’ve conducted a deep-dive into the smart home options out there that make the most sense for your bottom line and real estate investments.
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Smart home amenities range in price and return. There are certain smart home products that won’t break the bank while still adding lovely touches and time-saving features to your space. For instance, a smart thermostat may not run more than a few hundred dollars, but it can take so much of the guesswork and analog nuisance out of programming your home’s internal environment. That said, buyers selling properties with mid-range amenities like this can’t expect a windfall in return. While smart home features can certainly lure buyers and give the sense that a home is attractively modern (and thus move-in ready), it doesn’t mean that you’ll be reaping a sizable monetary reward for your foresight. Conversely, this reality doesn’t mean those smart options
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are without value entirely; it just means that the value of smart home options may be apparent in a different capacity, like luring a particular buyer or creating a desirable, sleek image for a property headed to market. On the other hand, larger scale smart home amenities that are being left behind for the buyer—like a smart refrigerator or wired sound throughout the property—may be able to lure particular buyers who value high-end details. While it can be difficult to state definitively the value of smart home options, the rule tends to be that the more you put in, the higher the likelihood you’ll reap the investment you sow. Focus your smart home options on home appliances first, then work your way toward security, thermostat, and entertainment options.
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Smart home amenities capture the attention of buyers
Agents must know how to pitch the value of smart home options
Even if you have mostly opted for small or mid-range smart home options, you can still benefit from their presence in a property—even if they don’t inflate your bottom line as a result. Smart home amenities have the power to focus the attention of buyers, sending a clear signal that the previous owners were tech-forward and made an effort to upgrade the property for the contemporary era. Millennial or Gen Z buyers especially value these up-to-date modifications, and the presence of these desirable gadgets can create added interest and drive up value naturally. Likewise, featuring these options in listing photography can also drive interest from younger or high-end buyers looking for move-in ready spaces.
Remember that smart home features are relatively fresh to the market. While some new construction properties are equipped with these smart amenities, just as many homes on the market don’t offer these upgrades and modern flairs. This means that many buyers, of all ages even, aren’t familiar with the benefits and perks of these options, let alone how they’re operated. Before you can derive value from a smart home or smart home features, you’ll need to understand a product’s proper usage, cost, and benefits. Do your homework regarding what smart home features can offer in terms time or cost savings, and be able to show prospective buyers how easy these objects are to use, as well. Do both, and you’ll be in proper command of what smart home features can offer buyers and pitch them accordingly.
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EUGENE LITVAK
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Top Agent Eugene Litvak and his team members at The Litvak Team have dedicated themselves to developing systems that ensure client satisfaction. “We dedicate a great deal of our energy to staying in touch with our clients,” Eugene explains. To appreciate what Eugene Litvak has built, you have to go back to the beginning. “It still feels a little weird to be where I am, considering that right before I started real estate, I was broke and in debt, couch surfing with no home address,” Eugene says. “Now we’re one of the biggest teams in the country. So it’s pretty cool, the gap between where we were and where we are today.” Eugene reveals that 8Copyright Top Agent Magazine
this transformation can be traced to a mindset that positioned him for success. “Almost everything in life is 80% psychology and 20% execution,” he says. “If you think that you can’t do something, then you’re right. And if you think you can, you’re probably right too. If you just wake up obsessed with the outcome and have total certainty in yourself, the rest will sort itself out.” Top Agent Magazine
For Eugene, real estate is a constant process of developing and evolving, to always be better. That’s been true ever since his first business venture. It’s a matter of dedicating oneself to results, Eugene explains. “The ‘how’ isn’t hard to find. It’s not complicated; the information is available. What’s missing
for most people is the commitment, dedication, execution, and resolve.” Of course, a wealth of experience sure doesn’t hurt. “I’ve spent the past 15 years in development of some sort, whether personal, business, coaching, or training,” Eugene says. “The learning never stops.”
“People often ask me what my greatest motivator is...easy, my family and especially my magnificent wife. When we met, I had absolutely nothing....less than nothing actually as I was in so much debt. She’s always been there for me and has always been my biggest supporter. Simply put, w/out her, none of this is possible. As if that wasn’t enough, she’s also given me the greatest gift of my life - our amazing twins. I’ll spend the rest of my life, doing all in my power, to make their lives incredible.”
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“I’ve spent the past 15 years in development of some sort, whether personal, business, coaching, or training,” Eugene says. “The learning never stops.” Eugene and his team members at The Litvak Team have dedicated themselves to developing systems that ensure client satisfaction. “We dedicate a great deal of our energy to staying in touch with our clients,” Eugene explains. “In the words of Warren Buffett, what would your business look like if you kept every client you ever made? That philosophy Copyright Top Agent Magazine 10
guides us to be involved in our clients’ lives. We’ve developed a client care program that includes not just a closing gift for buyers, but we also offer to throw them a housewarming party. We love to participate in the lives of our clients. It’s not just about the money for us, and as a result, the vast majority of our business is repeat and referral.” Top Agent Magazine
There’s no doubt Eugene has made tremendous strides in his career, and he credits this to his family. “People often ask me what my greatest motivator is...easy, my family and especially my magnificent wife. When we met, I had absolutely nothing....less than nothing actually as I was in so much debt. She’s always been there for me and has always been my biggest supporter. Simply put, without her, none of this is possible.
As if that wasn’t enough, she’s also given me the greatest gift of my life - our amazing twins. I’ll spend the rest of my life, doing all in my power, to make their lives incredible.” Eugene’s outreach to clients also comes in the form of a monthly show on Instagram Live called #TLTTalks, where he interviews a guest about the current state of the market. “Every month we pick someone who we think
Eugene’s outreach to clients also comes in the form of a monthly show on Instagram Live called #TLTTalks, where he interviews a guest about the current state of the market. “Every month we pick someone who we think can add a lot of value to our audience and interview them,” Eugene says.
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can add a lot of value to our audience and interview them,” Eugene says. “In addition to going up on Instagram Live, the show is also circulated to our database of over 100,000 people. We’re always trying to add value by putting information out there for people to use as they need it.” On the horizon, Eugene sees a continued focus on constant improvement, building a foundation for clients’ success. “I think what we’re doing
now is pretty great, and I want us to continue to grow and help more agents, which in turn will help more clients,” he says. “We love what we do, so the more of it we can do, the better. For me it’s all about people. I feel like I was put on the earth to help people, and the idea of moving people forward is what motivates me most in life. When somebody on my team or one of my clients has a big win, that really lights me up.”
To find out more about Eugene Litvak, you can reach him at 347-254-5606 or elitvak@compass.com
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By the Numbers:
Understanding the True Value of Square Footage Measuring the square footage of a property may seem like an objective and straightforward task, but you’d be surprised at how many agents and homebuyers misunderstand this pivotal figure. True square footage provides homebuyers a concrete understanding of their prospective domain, but here’s the problem: the rules to determine a home’s square footage are not always uniform across the board. What’s more, much of Top Agent Magazine
a home’s value is determined by its size, so accuracy is certainly important. While many real estate agents have their own systems for determining or confirming a home’s true square footage, it doesn’t hurt to update your practices and become an expert on the subject. After all, you may learn a few techniques that could add value to a listing, or better prepare you in guiding house-hunters on the lookout.
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1. Do your due diligence Most towns and cities have a local records department where floorplans and blueprints are kept on file. It’s worth noting that these records don’t typically include any subsequent additions or remodels on a property, but they still give archive hunters a legal baseline when outlining a property’s square footage. Oftentimes, a straightforward online search of a city or county’s records office can pull the information necessary, or else agents can poke around in person to uncover informative blueprints at the records office. Either way, access to original blueprints or floorplans is a great tool for determining livable square footage. As a bonus,
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original blueprints and floorplans—especially in historic properties—can be intriguing visual aids for prospective buyers, as well.
2. Know the rules While there aren’t universal standards when it comes to measuring square footage, there are general guidelines that can help determine square footage in an authentic way. Per the American National Standards Institute (ANSI), here are the official recommendations for measuring a home’s real square footage: n Called “below grade spaces,” basements
and sunrooms beyond a home’s typical
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living quarters do not count toward a home’s true square footage. According to ANSI, even big draws like finished basements don’t count toward a property’s Gross Living Area. Of course, even below grade spaces have their own desirable value and should be outlined as such on listings. n Did you know the space inside closets
and on stairways counts toward a home’s square footage? Even if these areas are relatively small, they still add to a property’s calculable square footage.
n When recording square footage, ANSI
actually suggests performing measurements from a property’s exterior—though this method does not account for the
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thickness of exterior walls, which could skew square footage numbers. n Just like below grade spaces, a garage, a
pool house, or even a guest house should not be included in a property’s Gross Living Area. The rationale at work here is this: if you must go outside to access additional living areas, then they are beyond the square footage scope of the primary dwelling and should not be included in a home’s Gross Living Area.
3. Double-check by doing the dirty work Buyers and sellers have or will make a sizable investment in a property, so isn’t it fair to double-check all the relevant facts and figures
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when it comes to true square footage? If you want to take on the endeavor yourself, here are a few helpful steps to take.
room. Once you’ve completed the room’s measurements, multiply the room’s length and width to determine its square footage.
n First, you’ll need a few things to get started,
n As you go measure throughout the home,
including a tape measure that can measure at least 100 ft., graph paper, and a pencil.
n Next, choose a room to start measuring
wall-by-wall. Measure Wall 1, then proceed to assign each square on the gridded paper a corresponding measurement, rounding to the nearest tenth of a foot for the sake of clarity.
n From there, draw out the wall you measured
and measure the remaining walls in the
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using your own system to scale, you will construct a failsafe floorplan.
Mastering your craft is everything, and the real estate industry is no different. Every now and again, it’s worthwhile to update your well of information, take matters into your own hands, and continue to innovate with the industry. While square footage may not seem like the juiciest starting off point for such a venture, never forget: mastery of technical knowledge is a sure sign of expertise.
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NIKKI “G” GRZEGORZEWSKI Successful real estate agent Nikki “G” Grzegorzewski has been selling lifestyles to residents of Orange County NY and the whole Hudson Valley area for over 24 years. When she migrated from Poland in 1994 with a degree in physical therapy, she never dreamed she would practice real estate. Located in Victorian style Warwick, Nikki specializes in historic, luxury and residential properties. Since she is local to the area, she is knowledgeable not just about the market but the local schools, businesses, and amenities. Much of Nikki’s business comes from satisfied repeat clients, and to that end referrals from those clients. When asked about the source of her business, Nikki stated, “Most of my clients become my friends. If there is an opportunity to share, they always refer me.” Many of her clients and colleagues also believe she is a good listener and takes the time needed to assess their needs. Nikki’s career in real estate started in 1998 when she had a conversation with a person named Barbara White. Barbara, at the time, was a broker of a local boutique real estate company. That conversation immediately sparked Nikki’s passion for real estate and drove her to pursue her license. Nikki stated, “When I was pregnant with my older son in 1999 and my English wasn’t great, I somehow passed the test and received my license. It was right before having the baby, too!” Nikki worked with Barbara White’s firm for 10 years learning and absorbing everything she could until she decided to advance her career with a larger company. In 2008 Nikki decided to join a large national brand with a local presence. There, Nikki continued to grow her business and network for 11 years. During that time she was actively pursued by numerous other firms because of her strong presence in the community.
Nikki’s real estate career grew as her children did: like bamboo, but in 2021 when Nikki reached a precipice in her career, she decided that she needed to make a change. After scouting around examining other agencies Nikki finally decided to do business with Keller Williams Realty/Keller Williams Luxury International. Nikki found that brokerage was the best fit to help her grow, conquer her limiting beliefs, and path out a successful future for her and her family. Today Nikki is consistently rated as one of the top ten agents at Keller Williams Realty and is amongst the top 5 real estate agents in the tri-state area. Never having given a thought to real estate in the past, Nikki thoroughly enjoys what she does now. “It’s selling a lifestyle to people,” she remarks. “It makes me feel good and rewarded when I can deliver and make clients happy by selling them the lifestyle they choose. When buying and selling a new home, many people are facing a new chapter in their life, and I love to be a part of it!” The faith and trust that Nikki’s clients have in her is what helps her to continue nurturing those relationships every step of the way. Nikki’s community minded attitude keeps her busy, as well. As a board member for the Warwick Valley Chamber of Commerce, she volunteers at local events and helps promote local businesses. While her social life is busy volunteering and networking with others in her industry she loves to work out, go hiking, enjoys boating, and has just taken up pickleball. When you ask Nikki what her future plans are she states that she simply wants to grow her business. She is looking to sell a lot and list a lot, make her sellers and buyers very happy by selling them their dream homes, and to continue to gain the trust of her clients. Nikki also speaks both fluent English and Polish.
You can learn more about Nikki “G” Grzegorzewski by reaching out to her at Nikki.g@kw.com or 914-755-8827 Top Agent Magazine
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How to Recognize True Luxury Properties What to Consider Other Than Location When luxury home buyers are looking for a new abode, they are often advised to pay most of their attention to location, location, location. And it’s true that good locations often have better properties, but if you’re only looking at location then you might be forgetting what it is in a luxury property that makes it luxury. You could view a property in a great location, and because you completely ignored any of the other factors that make a property high end, you might find that once you move in, you aren’t as pleased with the actual house itself as you thought you would be. Here are the other things you should look out for when purchasing a luxury home: • Architectural Uniqueness: The simple fact is that good
architecture retains its value. Do your homework on architects and find the ones that have a good track record of designing beautiful, but practical homes. Don’t simply pay attention to how the building looks today. Consider how it will look in a few decades. Keep an eye out for the “bones” of the building, and decide whether they will stand the test of time or not. Things such as a solid foundation, high-grade materials, unusual details, and artistic components are good aspects to consider. Will the structure hold up well or will it degrade and crumble without constant upkeep? That funky molding may look artistic today, but in ten years will it be considered artistic or just plain weird?
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• Practical Layout: Make sure you have enough room to live
in comfort. As a buyer of luxury property, you probably have quite a busy social schedule. You want to make sure that the layout will lend itself to helping you maintain clear separation between your social areas and private ones. You don’t want guests having to go back into your bedroom to use the bathroom. Look out for places with stairwells, awkward columns, long hallways, and other wastes of space.
• Unobstructed Views and Light: You want to live in
a home that gives you lots of natural light, such as one that is open to the outdoors. That natural light will improve your mood, as well as the resale value. The openness of a space filled with natural light will make you feel more comfortable and happy in your new home. What about the view? Do you see a Do you park, a bridge, a river, or a skyline? Is the see a park, fantastic view out your window protected? a bridge, You’ll need to understand the surrounding air a river, or a rights and zoning allowances of neighboring buildings to understand the possible risks. skyline?
• Windows: Windows are the primary source of losing heat and
cooling. Make sure they are double-paned with good insulation that will protect your home against weather and noise. Unless the windows are already like this, it is unlikely that the condo or co-op board will allow you to install your own.
• Ceiling Height: Consider the cubic footage of the property.
You want to look for high ceilings that increase the openness of a room. Of course, you don’t want to go too high. Above 14 feet will get you diminished marginal returns.
• Storage: If you’re a woman, you will understand this one. We need
lots of closets and additional storage room to fit all of our clothes, shoes, jackets, hats, purses, etc. However, lucky for you, your potential home’s existing closet square footage will not limit you from putting in more storage space. Custom closet companies can create any kind of storage
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space you desire. You will have to, however, make sure that your new home does have an area that you can turn into this storage space. • In-Unit Laundry: In-unit laundry has become necessary for
any luxury home or apartment. Do you really want to have to trek down flights of stairs to use the basement laundry? If you still consider it wasted space, you can convert it into more closet space.
• The Gym: Having a fitness area nearby is an amenity that is especially
important, particularly in winter when you don’t feel like walking to the gym a few blocks down. One thing to consider is the Do you really want of the gym in relation to have to trek down size to the size of the building in flights of stairs? light of common area fees. • Move-In Ready: I’d advise against buying time-consuming and
frustrating fixer-uppers no matter how much you want to add custom kitchens, finishes, fixtures, and other characteristics. Choose a property that already has all of these amenities taken care of. These properties have already had the same designers you would hire fashion the house at a fraction of the cost you would pay to have them do it after you move in. In this light, it is worthwhile to pay a little extra for the move-in ready home.
• Reputation: Pay attention to the reputation of the building. A
property that has a good reputation tends to retain its value. You can easily find this out online on posts, and established locals are likely to have an opinion.
If you want to buy luxury property that is really worth it’s price, then I would suggest adding these points to your list of things your new home must have. If you want to get a high quality home that is a true luxury, you’ll want to watch out for these aspects as well as the location. Some properties might claim to be luxury based on their location, but when compared against this list, they don’t make the cut. So, don’t be fooled by imposters, and make sure you find a true high-end property. 20
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RAY WU Growing up with a family who worked in property development, REALTOR® Ray Wu learned the ins and outs of real estate from a young age. His first career was in banking, but in 2013, he decided to follow in the footsteps of his family by joining their property development firm. Just last year, he made the move to become a full-time REALTOR® after realizing the joy it brought him to help people buy and sell homes. A longtime resident of Brooklyn, New York, Ray enjoys the vibrancy of the area and the opportunities it provides his career. “Brooklyn is a really dynamic place to live and it is constantly changing,” he says. “On the plus side, it means that I am always meeting new people. Living in this area has really helped expand my professional community.” He represents a wide spectrum of clientele with their real estate needs, particularly people of Asian and Italian lineage. “Families of immigrants work really hard,” he says. “It motivates me to work hard for them to help them find a great place to live.”
day-to-day routines, Ray hosts events and fundraisers throughout the year to engage with his clients and community while giving back. He finds that doing good things for others comes back to him in kind. “Real estate is a two-way street,” he says. Looking to the future of his business, Ray has big plans to scale his business. Within five years, he wants to grow his team to up to twenty people and franchise his company so that they can expand to other areas. While Ray aims to widen his scope and help more people, he asserts that he will always maintain the same level of care with his clients. To summarize it in a few words, he says, “Sales and success come from service.”
A part of a real estate team, Ray relies on a strong network to bring in a steady stream of clients throughout the year. Over 70% of his business is from referrals and repeat clients, which demonstrates just how successful his practice is. Throughout the process, Ray keeps his clients informed and uses his background in finance to negotiate deals on their behalf. “It’s not about personal gain for me,” he explains. “It’s about helping people who aren’t sure which way to turn when it comes to home ownership.” To market his listings, Ray uses a two-pronged approach of traditional and digital marketing tactics. Specifically, he sends out targeted mailings to clients and uses social media advertisements to reach new potential home buyers and sellers. “The combination of these two strategies works really well in promoting our team and company,” explains Ray. To complement his Top Agent Magazine
To learn more about Ray Wu, please call 347-335-6333 or email Raydevelopmentmovesyou@gmail.com 21
5 Steps to Achieve Long Term Success as a Real Estate Agent Real Estate can have a reputation as an industry with a high turnover as far as agents go. Being a ‘people person’ with an entrepreneurial spirit is a great start, but what some fail to realize when starting out is that this is a business. So if you’re in it for the long haul, you need to treat it that way. Here are some key steps you need to take to have your own successful real estate business.
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FIND A MENTOR
Once you get your license and hang your sign at a Brokerage, you’ll find that you’re pretty much on your own. That’s why it’s a good idea for new agents to find a large Brokerage that offers in-house training and mentorship or a boutique brokerage that has more seasoned agents who are eager to take a new agent under their wing. Being able to shadow a more experienced agent is invaluable and allows you to mirror what you’ve seen and run through the numerous scenarios that will arise when you are representing a client.
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CONTINUOUS TRAINING
This is a business that is constantly changing, so it’s smart to always stay ahead of the curve when it comes to new technological innovations and systems. There are even numerous online resources, where you can keep up on your trade, such as blogs by top producing agents that are a treasure trove of information. A confident agent with an in-depth knowledge of the business is one that easily earns the trust of their client, leading to repeat and referral business, which will be the bread and butter of your business.
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BUILD A STRONG ONLINE PRESENCE
Yes, referrals are the basis of your business, but building a strong online presence and marketing yourself to new clients is also important, especially before you’ve built up a strong referral base. Facebook, Snapchat, Instagram, and other social media tools are great way to get leads both for your listings and for yourself. It’s even a good idea to buy several domain names when you start, so that when you’re ready to build a website, you can ensure you have the names you want. Obviously the internet is also a great resource to find leads. Before you find a niche for yourself, it’s important to take advantage of every avenue there is. A lot of successful agents started off doing things no one else wanted to take on like foreclosures, expired listings or lower priced homes. But as you’ll find out, helping those who need it most is a great way to build a loyal client base, that will not only come back to you when they are ready to sell or buy again, but will be your biggest cheerleaders when it comes to referring you to friends and family.
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BUILD A SOLID FOUNDATION
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SET GOALS
One thing you’ll find in this business is that doing a lot of work up top, will lead to a more successful outcome down the road. That goes for marketing plans for your listings, as well as your business as a whole. It might not be the fun part, but it will allow you to one day focus on what you do best, dealing with your clients. Set up your CRM and the other systems you want to use from the get go. Getting these things established before you’re hopefully a busy agent is the best time to really learn them and decide what’s best for you.
Once you build a strong foundation and are establishing your client base, it’s important to continually set goals that help you implement your business strategy. You can even invest in a real estate coach if you need someone to hold you accountable. It’s also important to constantly reevaluate what you’re doing. Set up a monthly audit, where you go over what is and what isn’t working. As we mentioned above, this is a fluid business and things are constantly changing, the same can be said of your business. What worked a year ago, might be losing you money as your business grows.
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