Saturday, November 11, 2006
Coldwell Banker Hunt Kennedy
New York, NY
Growing up in a small Maryland town, Patrick loved scouting out new homes with his father, collecting floor plans in three-ring binders for his imaginary Real Estate Company, "The Chesapeake & Patrick." Little did he know that a successful career in real estate was awaiting him in New York.
Providing superior service has always been Patrick’s primary objective in his real estate career. Market knowledge, exceptional follow-through, and good old common sense are the hallmarks of Patrick's continued success. Patrick is a frequent speaker at real estate conferences and seminars, and he is both a business and life coach.
What is your personal background and how did you get into real estate?
"I was getting my MBA at NYU and did my internship in advertising. I had no idea how little advertising paid. Upon graduation in 1984, the highest job offer I received was $23,000. At the time, I was bartending making $75,000 in cash. There was no way I was going to take that job. A few months later I had lunch with my friend Steve Straub who managed a real estate office in the city. He offered me a job, at which time I turned up my nose thinking, "I have a MBA, I am not going to sell apartments!" Steve then informed me he made $60,000 his first year in the business. My nose went back into place and I started working with Steve three days later."
What do you enjoy most about the business?
"I enjoy the money. It gives me the lifestyle that I want. I enjoy the freedom of not being 9am-5pm. I enjoy learning something new around every corner; there is nothing routine about this job. I can set my heights as high as I want. I can make my life what I want it to be."
Do you believe goals are important to your success?
"I believe goals are paramount to your success. I believe strongly that people who have a random pattern of business achieve random results."
What marketing advice would you give to someone at $100,000 who wants to get to $200,000 and more?
"It is important to understand what successful real estate brokers do and then mimic it in your own market in order to be successful. The way you get there is education/coaching."
What single quality has made you more successful than others?
"Coaching has been helpful."
What does the average real estate agent fail to do which are among the reasons why they are average?
"They are not looking at what makes a successful broker. They are not comparing themselves to others and learning. They just go ahead and do what they know. They won’t spend the money to learn. Successful teams, systems, and efficiency can be easily taught."
Are you A Billion-Dollar Agent or do you believe you will hit that level during your career?
"I am over $750 million so far."
Enjoy Patrick's interview in it's entirety in "Billion Dollar Agent – Lessons Learned." Patrick shares his wit and real estate tips as he answers Steve Kantor's questions on his success in the Real Estate business.