Company News • March 11, 2018

Our Yard Sign Makes “Wakefield”

by J. Philip Faranda

Back in 2015 the firm was contacted by a producer in Hollywood asking to see our sign for possible use in a movie they were producing. You might be wondering why they’d contact little old J. Philip Real Estate, but we’ve had a fortunate knack for getting found over the years. In news stories, it is often due to our proximity to New York City, a producer searching for a more obscure real estate matter (often on my blog), or because of my involvement with the MLS and the Hudson Gateway Association of Realtors. But for a west coast movie producer to find me does seem odd.

That is until, you dig deeper. Wakefield, released in 2016 and starring Bryan Cranston, Jennifer Garner and Beverly D’Angelo, is set in Westchester, and as I discovered with the Mad Men series, producers want authenticity. So, having the words “Real Estate” on my sign and being a real local firm rather than a fictitious brokerage was helpful. After a brief discussion, emailing them a picture of the sign and signing a release, I sent a sign panel off the Wakefield Productions and promptly forgot about the whole thing.

A few months ago, a friend called me after seeing the movie and said he could have sworn that he saw my sign in the movie. Again, after a perfunctory web search, I got distracted and forgot about it. Then, Eric Lebenson texted me some screenshots.

The confluence of it being a weekend and not seeing anything shiny in the next few minutes actually afforded me the time to see the movie on Amazon and appreciate that.

My. Company’s. Sign. Was. In. A. Real. Movie. With. Stars. And. Stuff.

Holy crap. I mean, I could get hit by a cement truck tomorrow but my great grandchildren could be watching an old movie in 2099 and see their great grandfather’s sign in a movie being carried by the Breaking Bad guy.

Holy crap.

Ho. LEEE. Crap.

For those keeping score, it occurs at about the 53 minute mark. I have to say: I liked the movie. Mr Cranston is a marvelous performer, and while it wasn’t a hit at the box office, I think it was a solid production that is the victim of a viewing public that can’t sit through 96 minutes of no gratuitous sex or violence. A complex, multi layered story that takes us through 15 years of suburban ennui will have a narrower audience, but I liked it quite a bit.

Hey @BryanCranston! Good technique! We would totally hire you if you ever decide to leave acting and get your real estate license! https://t.co/rkIDHN1NtF

— J Philip Team @ Howard Hanna | Rand Realty (@JPhilipRE) March 11, 2018

Commentary • March 8, 2018

On Powerful Women in Real Estate, Revisited.

by J. Philip Faranda

In observance of International Women’s Day, I’d like to pay a tribute to the many fine women who have made our firm what it is. In 2012 I wrote a post on how I expected to build my firm with powerful women. Some of the things I said:

Of our 34 team members, 20 are women.
There are only 3 executives with the firm. Two are women.
When I write more good news about our firm, it will often be sourced by a powerful woman.

Was I right about that last part? Let’s see.

The firm now has close to 100 associates, over 70% of whom are female.
Every manager and executive with the firm outside of myself are women; this encompasses 3 branches, a residential company, and commercial brokerage.
The commercial company is half owned and 100% run by a strong woman.
In 2012, when I wrote that piece, the company sold about 60 homes for a dollar volume of $16 million. In the last 12 months, we have sold close to 300 properties for about $100 million.
15 of our top 20 producers are women.

A few more facts: we have an outside consultant who has been a massive resource the past 3 years who is- guess what? Female. We belong to a consortium of independent brokerages that is chaired and directed by ….wait for it…a strong woman. The best real estate attorney I know is a woman. Most of the better ones I do business with are. My personal sales team is made up of 7 amazing women. I could go on, but I think you get the picture.

Will I hire men? DUH- I’ll hire a unicorn if New York or Connecticut license them. And I’ll add that we men ought to try and learn from our counterparts on the other side of the gender fence. In this industry, they can do everything we can do, except they do can do it pregnant, while having their best year ever. I can’t get out of bed after bad oysters.

Here’s a thing men absolutely have to get out of their way about: The notion that a strong, in-your-face, assertive, matter of fact female is somehow any less professional than a man with the same attributes. If we respect that in a man, we should value it in females also. I’ve had too many complaints about my female agents from dudes who couldn’t handle strength, and labelled that as unprofessional. Wrong. Check yourself.
I’ll add myself to the list of men who need to listen better and not dismiss a thought because of the delivery.

This post is not a chest beating about my me. I would hold my company up as emblematic of what can happen if men knew when to get out of the way and give the controls to a competent female. I’ll say it again: I will build this company with powerful women.

I love this quote: “women who seek equality with men lack ambition.”

https://youtu.be/lkfpqGWzHCE

Company News • March 8, 2018

J. Philip Real Estate Welcomes Imelda Cruz Avellan

by J. Philip Faranda

Not many entries in this journal are “firsts” for me anymore, and this is a great pleasure to share. One of the firm’s very newest agents is actually the daughter of one of our established agents.

It is very tempting for me to wax nostalgic on how young Imelda Cruz Avellan was when I first met her, but I’d rather focus on the top-notch professional woman she is today.

So here goes:
Imelda was raised and educated in Mt Vernon. She was in the Judge Judy and Nicole Sheindlin Mentorship program, where she earned the opportunity to intern in the Westchester County Executive’s office under Rob Astorino. Prior to her graduation from Mt Vernon High School she was selected to the National Honor Society. She also earned an academic excellence scholarship to Rochester Institute of Technology. She has since augmented her education in the technology area, but one of the many things I adore about Imelda is how she gets the human side of the transaction, beyond the shiny techie things. In her words:

I have real estate in my blood. I have listened to my mother help her clients navigate the real estate business my whole life. There is nothing like knowing you have someone in your corner looking out for your best interests during one of the biggest decisions in your life. It is my firm belief that whether you are listing, buying or renting in this real estate market, everyone deserves to be treated with respect. That is why I treat everyone with the same kind of patience and understanding I would expect someone to give my child. I am not here to just help you list, buy or rent just any house or building, I am here to help you with your home- a home that can be filled with memories, or a place where you want to create them.

As a broker goes through a checklist of things we look for in an agent, we have benchmarks for talent, intelligence, a work ethic, a hunger for learning, and a motivation to achieve. Imelda is through the roof on all of them. Her local knowledge and savvy about the communities she serves is excellent as well. I’m not worried that the pressure of high expectations might make things hard for a person, because, for Imelda, pressure and even adversity are just a day at the office. She’s fit quite a bit of life in her young years, and I wouldn’t at all be surprised to see her among our top producers down the road.

You can reach Imelda at 917.386.3441 or email her at imelda@jphilip.com.

Buying • Commentary • February 28, 2018

Inclusions and Exclusions

by J. Philip Faranda

From time to time there is an issue with a transaction related to the inclusion or exclusion of a fixture, an appliance, or an article of chattel. For the uninitiated, “chattel” are furniture or personal belongings not attached the house, such as furniture, clothing or wall art.

When a property is entered into the MLS, the listing agent should specify what is included with the offering. Typically, fixtures are presumed included, as anything “glued or screwed” is. Most MLS systems have a label of “included” items under a category of…wait for it….”inclusions.” There is also a category to specify exclusions, and this is typically for items that might be presumed as inclusions ordinarily, such as a chandelier, or built-in shelving that the owner wishes to take with them. This isn’t complicated- if something is included, it conveys with the house. If it isn’t, it should be presumed not included, unless it is a permanent fixture.

Typical permanent fixtures are: lights, stoves, and oven ranges.
Often ambiguous are window treatments and less permanent appliances such as window air conditioners, refrigerators and washers & dryers.
Not ambiguous at all are furniture, barbecues, hanging pictures or art, and patio furniture.

I’ll summarize: If it is glued or screwed, it is presumed to be permanent and come with the property. If it isn’t glued or screwed, it should not be presumed. The buyer and their agent should be guided by the inclusions in the MLS details. If they are unclear, they should ask.

While this may seem like common sense, we have seen examples of unnecessary drama at the closing table over removed dishwashers, missing lighting fixtures, fireplace tools, curtains & shades, kitchen islands that were actually on wheels, window air conditioner units, and the list can go on.

Here is what a buyer and a buyer agent should NEVER, ever do: assume a non-permanent article of chattel is included simply because it isn’t specified as an exclusion.

Recently, we had a contract go out on my listing where the inclusions on the MLS were all kitchen appliances. The washer dryer were not in the inclusions. The offer specified that the inclusions were “per listing,” and the buyers attempted to add the laundry appliances to the contract. Their agent, who wrote the offer and the “per listing” verbiage, tried to argue that since the washer dryer were not specified as exclusions, that they should default to being included. In other words, they wanted to throw out all the other rules because the agent goofed. They did not prevail.

The takeaway: It is folly to assume a non-permanent appliance is included just because it isn’t on a list of exclusions.

One could argue that their buyer agent, who ostensibly was hired to help them get the best terms and save money, cost them more than $1,000.00 with that.

Silence is not consent. If a non-permanent appliance is not specifically included, never assume that it conveys with the house. It is the buyer agent’s job to make sure that everything is clear.

Company News • February 12, 2018

Honoring the J. Philip Achievers of 2017

by J. Philip Faranda

This past Friday, February 9th the firm had its annual award Gala at The Briarcliff Manor to celebrate a successful 2017. We’ve held the event annually since 2015, and the list of award recipients has grown as our collective professional acumen has risen. While I cannot do each of the dozens of recipients justice in one post, I’ll do my best to summarize the highlights of the celebration.

In all, 27 agents were Million Dollar Producers. That is roughly 1/3 of the entire company, and if you are familiar with the 20/80 rule (which is more like the 7/93 rule in our industry), it speaks well of our training and staffing. I can recall a time when we didn’t have 27 agents in the entire company!

5 (five) new agents could have been “Newcomer of the Year” in any other year but this one. I’ve written before about the rookie class of 2017 and it’s similarities to the NFL Draft Class of 1983, and I’m delighted to add that another five agents, but for their timing in joining us, would also be strong candidates. In addition to one Newcomer of the Year, we also recognized 4 additional Newcomers of Distinction.

The award winners are as follows:

Most Improved Production: Marcia Gordon. Marcia was last year’s Newcomer of the Year, and she improved her production over 300%. Staggering.
Teamwork Award: Kisha Riviezzo. The moment I uttered her name, the room erupted. That says it all. Kisha was nominated by Nancy Green, our Putnam County admin and oracle. That nomination should be framed.
Newcomer of the Year: Elena Kupka. Elena was a client in 2013 and was my guest at the dinner a year ago before the ink on her license was dry. I wasn’t surprised at her success, and I applaud her commitment. Elena has the electricity and positivity of a breadwinner on a mission.
Top Buyer Agent: Peaches Drummond. Peaches has earned high recognition in years past, and I’ll add here what I said Friday: She could be the top listing agent in 2018 too.
Production Excellence: Amanda Racek. Another repeat winner, Amanda just keeps piling on happy clients by the dozens and closing volume in the multi-millions. I have to pinch myself that a person of her caliber has chosen this company as her professional home.
Top Producer: Cristina Gameiro. Cristina had the most overall transactions and highest dollar volume, but more importantly, her clients and teammates all adore her. So do I.
Person of the Year: Tom Ricapito. The firm’s highest honor doesn’t go to the top number’s compiler (although Tom is a high achiever). That has never been our style. Being a leader, representing the brand with integrity, initiative, teamwork and many other things make the honor what it is. Tom was the first agent I ever hired in 2006. To say that I started off on the right foot would be an understatement.

In the “coming attractions” part of the dinner, I unveiled the release date of the new company website and back office. The intention to do this was announced at the prior year’s dinner, but we wanted to get it right, and I think we have. Not only will we have a fantastic, consumer-centric website, the agent back office will be a single sign on masterpiece that will have all the tools to manage their businesses under one platform’s umbrella.

I would also be remiss if I didn’t acknowledge that, for as big as our event was this year, the flu kept some very important people home, including Jenn Maher, my commercial and Putnam County partner. As smashing a success as the event was, it would have been more so with Jenn with us and not home nursing her daughter back to health from the flu. Happily, everyone is feeling better now.

Lastly: We danced.

I am humbled to be the leader for these many dozens of great professionals who do their jobs so well and build the brand on the foundation of happy, well-served clientele. I eagerly look forward to the rest of 2018 with this team.

Many thanks to Perry and the magnificent staff at The Briarcliff Manor for their dynamite service.

Company News • February 1, 2018

Strong Start to January for the Firm

by J. Philip Faranda

J. Philip Real estate is now closing more than a transaction every business day. The dust is still settling in tabulating January 2018’s final numbers. However, even with perhaps a few straggler status updates for closings we’ve had our best first month ever, with 27 sales for the 31 days of January. Given that the first quarter of any year is a result of what is often the slower 4th quarter with the holiday season cycle, this is extremely gratifying. I applaud the agents in the firm for their commitment and hard work.

With dozens more transactions under contract and reports of accepted offers daily, 2018 is off to a strong start.

This coming February 9th the company will hold it’s annual award dinner, and like years past we’ll recognize the agents in the firm that produced $1 Million or more in production. Just 3 short years ago, we had 7 agents who sold more than one million dollars worth of property. This past year, that number has grown to 26.

Inasmuch as we have aspired to attract and train productive agents, it is even more important that the consumer experience is just as positive. There are two intuitive metrics for client satisfaction: repeat business and referrals, and online ratings. Happily, the number of referral driven business that has built the brand over the has increased as our closings accumulated. Also, online ratings, which I used to kvetch about, are stellar.

When Zillow first introduced consumer ratings for agents, I was afraid that they would be deficient in credibility; competition gaming the system, irate consumers and competitors posting bogus flame reviews were concerns. Zillow, to their credit, has done a good job in vetting ratings and, while still not perfect, it’s hard to deny the success of the initiative.

On my own team’s profile, we have over 100 positive reviews and over overall rating is 5/5.

So, I am happy that our sales volume has grown. But I am ecstatic that our ratings are stellar and that we continue to have past clients entrust us with their loved ones.

Uncategorized • January 29, 2018

The Spring Market is Here- Home Sellers Should Take Note

by J. Philip Faranda

The adage goes that in real estate, Spring starts January 2. The holidays are behind us, and in order to be in a new home by the summer, prospective buyers need some time just to find the right place and then 2-3 months more to close. Home shoppers are out as I type this, making inquiries, touring open houses, interviewing buyer agents, and familiarizing themselves with communities. I have a few takeaways for sellers to consider and take to heart.

Don’t wait until the flowers bloom in April to list your home. I know the landscape is barren now and the place looks prettier when the hydrangea and rhododendron are in full bloom, but the same goes for every other home in your market. The first wave of buyers are under contract by April or May, and that first wave is the most motivated. Every other house in Westchester and Putnam doesn’t have their landscape in full bloom yet either.
There is low inventory, which is an opportunity. In many communities, if you list you have sparse competition and a high amount of pent up buyer demand. This is a unique period, and if you want to sell you should take advantage of it.
Don’t sweat the law changes. The tax laws do affect New York properties more than other states, but that does not mean ownership is less desirable. No one buys a primary residence property solely or a write off. You “can wait and see” while on the market with a robust buyer demand we currently enjoy just as easily than if you remained off the market.

In a vacuum, tax law changes may suppress property values, but we aren’t in a vacuum, we are in a time of high demand and low inventory. If you’d like an estimate of your home’s value online before taking another step, we have just the help for you with our online value feature.

Company News • Pimpage • January 23, 2018

J. Philip Welcomes Geraldine Bien

by J. Philip Faranda

I always want my firm to be chosen, and that doesn’t just go for consumers. It also goes for licensees who are looking for the right brokerage at which to build their practice. So you can imagine my happiness when a past client joins us as an agent. That’s exactly what happened when Geraldine Bien joined the firm. Geraldine was a client of our own Tom Ricapito, and in the two years since she closed on her home, they remained in touch. When she was considering a brokerage to join, Tom encouraged her to talk with us. It was a counter-intuitive move, as we aren’t in her zip code, but when we spoke and I had the chance to share our digital footprint, we were simpatico.

People get into the business for different reasons, and they aren’t always the right ones. Sometimes, they actually have a great rationale for entering the industry, but they fall short in planning their strategy. I sometimes see deficiencies in both motivation and planning. With Geraldine, however, I see both a plan and a big Why. In our discussions, her focus was almost entirely consumed by a curiosity in how to make this work for her clients and how to get off on the right foot with her particular skill set to do the best job for them. I love that.

Prior to making the decision to join us, Geraldine attended some training meetings and got a feel for how we work and what kind of support we offer our associates. These meetings aren’t commercials; they are work sessions, and sometimes they can scare people away. Not Geraldine- I think they are actually what got her to choose us.

So who is this smart, motivated person?

Geraldine hails from New York City, as many Westchester residents do. Educated with a bachelor of Fine Arts at Bard, she elected to move to the suburbs (or the country, as she jokes) for the fresh air, educational opportunities for her kids, and the Hudson River town lifestyle of nature and people in love with the community. No stranger to real estate, she’s restored multiple properties in Brooklyn, where she hails from, and loves older architecture. Look for her blog soon, which will be at upintheburbs.com, as we both continue to plot out her course. I am certain that anyone working with Geraldine can expect excellent advocacy, empathy, top-shelf professionalism, insight and fantastic results.

To reach Geraldine, just call 917.435.4720 or email her at geraldine@jphilip.com.

Community News • Company News • January 17, 2018

On Appointment to the Ossining Historic Preservation Commission

by J. Philip Faranda

As a kid growing up in Ossining in the 1970s and the long shadow of Urban renewal, I had a first row seat to the decline of Downtown Ossining. The stately old buildings that punctuated centuries of progress, commerce and history were reduced to a crumbling, blighted row of vacant shells. Sadly, in the clearing of some of those old buildings, what would now be considered treasured, one-of-a-kind structures became piles of rubble, then parking lots. Fire reduced some to fenced off fields. It would be that way for decades.

I left for college in 1985; in 1988 or so I got a part-time job on a semester break that made me fall in love with the nooks and crannies of this village: pizza delivery. Beyond the crumbling downtown were miles of neighborhoods, some in the shadow of Sing Sing prison, others up the hill with breathtaking views of the Hudson. The lights of the river towns across the river framed a picture that seemed like I was a speck in a 3-D Hallmark card. The image remained with me as I lived off campus at Villanova in Pennsylvania, to work transfers to Boston, New Orleans, Maryland, New Jersey, and finally Rochester NY. Whenever I visited my mom I’d see the same dichotomy of a struggling downtown and a surrounding village with strikingly charming architecture. Ossining was grappling with more than a downtrodden Main Street, however.

The school system was transitioning to the “Ossining Plan,” a spectacularly successful initiative to replace segregated neighborhood elementary schools with all kids in the same grade together in one school. It made a huge difference, and the race riots at the High School in the early 70s now seemed like they occurred in ancient history.

When I moved back home in 2000, Downtown was still a mess and administration after administration strove to support the area to reach a critical mass of progress. Happily, downtown Ossining in 2018 (The same can be said of the waterfront, but that is another post) looks nothing like it did even 10 years ago, and this past summer I was honored to serve on a working committee of residents to submit to the public our collective proposals on how to ride that momentum. The Ossining Downtown Redevelopment Working Committee met for about 4 months and made that presentation at the Library this past Summer.

After that experience, I was made aware of an opening on the Village’s Historic Preservation Commission. I applied for membership, and was accepted. The charge of the commission, according the village website is as follows:

The Historic Preservation Commission (HPC) hears applications for and recommends the designation of landmarks and historic districts to the Board of Trustees; decides upon Certificates of Appropriateness; and hears applications for and recommends to the Board of Trustees donation of façade easements. Additionally, the HPC may advise owners of historical buildings on issues of restoration and preservation; advise the Board of Trustees with respect to the acquisition of a landmark and/or structure, etc. The duties and responsibilities of the HPC are set out in Section 270-25 of the Village Code.

As dry as that sounds, was an honor to sit at my first meeting and get a feel for the ethos and passion of my fellow appointees for the exceptional history and architecture of this place. It’s been over 30 years since I first drove down a village street that was new to me, overlooking the Hudson at twilight with breathtaking beauty, just to deliver a pizza to someone who enjoyed that view in a gorgeous old home. It makes me happy that downtown is a place where I can go to eat or shop, and that the blight is a thing of the past. I love that the village has fought the good fight on so many fronts. There are thousands of reasons why I love this place and chose to remain here when I could have lived elsewhere, but this is where I want my roots, where my children are educated, and where I will remain.

Industry News • Market • January 16, 2018

News12 Interview on the NY Mansion Tax

by J. Philip Faranda

I was interviewed on News 12 this past Sunday on the “mansion tax,” a 1989 law that adds a 1% tax on properties sold for $1 million or more. In 1989, one million dollars probably did but an actual mansion, but in 2018, in a county with a median home value pushing $700,000, it doesn’t. This is problematic, and adds a dynamic and burden to middle class home buyers and sellers that was supposed to be shouldered by the most affluent.

I’ve seen homes -not mansion, homes- valued around $1 million have the price negotiations hijacked by who will pay this tax, and sellers intentionally price their property under $1,000,000 to avoid the headache. If a home is worth $1,050,000 that is an artificial externality that middle class people should not have to deal with.

There is a push to raise the threshold to $1.7 million, with adjustments for inflation annually. This strikes me as prudent, especially in light of the harm the current arrangement causes New York when consumers have more friendly conditions just a few town away in Connecticut and New Jersey.

While the tax does generate billions in revenue in Albany, a sensible adjustment would make living in New York more attractive, help New Yorkers, and keep our state competitive with our neighboring states. In that sense, a rising tide would raise all boats.

Our Yard Sign Makes “Wakefield”

On Powerful Women in Real Estate, Revisited.

J. Philip Real Estate Welcomes Imelda Cruz Avellan

Inclusions and Exclusions

Honoring the J. Philip Achievers of 2017

Strong Start to January for the Firm

The Spring Market is Here- Home Sellers Should Take Note

J. Philip Welcomes Geraldine Bien

On Appointment to the Ossining Historic Preservation Commission

News12 Interview on the NY Mansion Tax

Home

Properties

About Me

Blog

Neighborhood News