Photo Courtesy of KARJAKA
Dominating the NYC Real Estate Scene
Bravo network’s celebrity real estate agent Tyler Whitman gives us insight on the luxury high-rise real estate market. Tyler, who is originally from the south is dominating the NYC real estate scene. Currently, Tyler works for a start-up real estate firm, Triplemint, where he is part of the founding team.
Despite the pandemic, real estate market is increasingly generating interest from affluent buyers nationwide. People’s desire not to be in the office and an increase in work-from-home businesses has also changed consumer behavior. Here is what the Bravo star had to say in our exclusive interview.
Q: What do you think about the current luxury high-rise/real estate market?
It is exciting to see it making such a fast recovery. Even before the pandemic, we were dealing with a substantial over supply which always makes closing much more challenging. Now that people are moving past the fear phase of the pandemic, we are seeing the inventory not only being absorbed, but competitive bidding is coming back, and we haven’t seen that regularly since 2015. Ultimately, pricing still must be appropriate, but well priced product is selling fast and well.
Q: How do you think the pandemic has shaped high-rise market?
There was a market correction that needed to happen to get these properties sold. Prior to the pandemic, it was a tough story to tell. The stock and job market were doing well. When pricing goes down, sellers want to know a reason, and until the pandemic, we didn’t have a reason. The pandemic gave a “why” to the pricing, and we got the market correction we have been needing for years.
Q: Any lessons learned navigating through the pandemic?
Yes! Real estate agents for some reason are extremely resistant to technology advancements that have been available to us for a long time. There is something about holding on to that human touch selling experience that we just can’t seem to move on from. But during the pandemic, human touch was literally not an option. We leaned heavily on virtual tours and digital marketing in a way that was always there, but we never relied on. I learned that I could show 10x the apartments in a day using technology. Ultimately, this experience has been very eye opening in a new way to run my business more efficiently and do an even better job for our buyers and sellers.
Q: Any tips you can share with our readers when it comes to choosing the right agent?
Trust is always going to be the key to success in a client/agent relationship. And that is why successful agents come in all different types of personalities. Some people trust extroverted people like me, and some people feel more trust with a more quiet/serious personality. Looking into someone’s track record of sales online is always valuable and easy, but that doesn’t mean much unless you feel a trusting connection. Trust your gut.
Q: Can you tell us about your relationship with Million Dollar Listing co-star Ryan Serhant?
Ryan has been great! We butted heads a little when we first met, but we get along great now. That said— we are not hanging out and chatting all the time. He’s busy. But he’s definitely there to lend an ear if I need advice, and we have a few deals together right now… so it’s all fun.
Q: What do you love most about being in the show?
Honestly, it’s been awesome to share my story and my journey with health and growing my business on tv. I get to connect with a lot of people who have their own version of a similar journey all the time and it’s just awesome. It keeps me motivated on the bad days knowing that if I overcome the challenge, it might help someone watching the show.
Q: What can viewers expect from Season 9 of Million Dollar Listing New York?
A lot of real life happened, and it was all captured. This season is completely different from past seasons. We obviously could not have huge parties and events to market our properties, so we had to think of new ways and try things we haven’t done before. It was also great having so many clients willing to be vulnerable and share their stories of selling real estate in NYC during a pandemic. I am excited for the world to see what it was like.