Ashley &
New York: How was your experience starring in the reality show “Selling New
York”?
Semino: My
experience starring in the season’s premiere episode of HGTV’s “Selling New
York” was amazing. Warburg Realty is one of the four firms featured on “Selling
New York,” so I was thrilled to be in the show. When I began working with
recording artist O’Neal McKnight, I knew that his personality and the types of
properties he was looking for would be an ideal fit for the show. In 2010, I appeared
as a real estate agent on MTV’s hit show“The City,” so I already had some
on-camera experience. In 2013, I will be starring in another episode of
“Selling New York” where I am working to sell an exceptional loft in Chelsea.
That episode will be a lot of fun!
Ashley &
New York: How long have you been a Real
Estate Broker and what do you like most about it? What are some challenges?
Semino: I
obtained my Salesperson License in 2006 and my Associate Broker License in
early 2012. I represent sellers, buyers, landlords, renters, and any type of
residential property in New York City. What I enjoy most about being a real
estate broker is that every transaction comes with its own unique set of
challenges. As a natural problem solver, I find enjoyment in navigating through
complicated problems and prescribing solutions to them. I also enjoy the
negotiating stage of a transaction, as it is the most delicate step of the
process and where I have to be the most diplomatic. On the other hand, my least
favorite aspect of my profession is the “waiting period” between a contract
being signed and the closing which could take 3-5 months.
Today’s real
estate sales professionals face many challenges. In New York City, the most
impactful challenges are low housing inventory and a very strict lending
environment where not only the buyers have to be approved by the lenders, but
also the buildings where the units are located need to be approved. In
addition, the financial fiscal cliff and the possibility of higher capital gains
and personal income taxes in 2013 are currently suppressing buyers’ and
sellers’ confidence in the economy. The rental market also has its own unique
set of challenges. Rental rates in 2012 are 3% higher than they were in 2011
and there is also a significant lack of inventory. Many of the other challenges
we face are related to the actual real estate transactions. Despite how
complicated this profession can be at times, it is also very financially and
personally rewarding.
Ashley &
New York: What are some misconceptions
about the real estate industry?
Semino: In
my opinion, the main misconception about the real estate industry is that sales
agents are not hardworking people. This is a false impression because the
majority of agents work six or seven days a week. We work on commission, so
this business isn’t always fun and games as most people think it is. To be
successful in this industry, an agent has to be extremely available and
accommodating. This industry is very demanding and sales agents work very hard.
Ashley &
New York: What is some advice you would
give to those considering a career in the real estate business?
Semino: Anyone considering becoming a real estate
salesperson needs to examine the different brokerages and understand how these
companies operate. Most importantly, I’d advise that they thoroughly assess
their personal finances to see if they have the ability to cover their expenses
for at least a year. I truly believe that it takes 2-3 years for new brokers to
begin building their network and to start making money; that is unless they
have a lot of wealthy contacts who become their clients at the outset.
