2020 will be the year when coronavirus came along unwelcomed and unannounced, and affected every aspect of modern life – businesses, education, travel, economy, and more. Yet some, like Ido Berniker, are trying to make the most of this time. As Manhattan’s poster boy of real estate, he’s keeping his spirits buoyant by studying the sudden bend in the road and preparing to face it. The optimism of Manhattan’s elite broker is not without merit and has given us 5 Real Estate Tips.
Keep your eye on the present
It has never been more important to focus on the present than now. He recalls the uncertainty surrounding the real estate market during the Brexit crisis. “Now there is more clarity over which direction Brexit is going, the currency is regaining its strength, and the pent-up demand that has been years in the making is attracting buyers from the sidelines while prices are still low,” he says. COVID-19 may have put a question mark over the future, but the past is proof that things do take a favorable turn when one focuses on what is at hand.
Don’t be hasty
The state of the economy is a blur, nothing is certain, and there’s no telling when clarity will be attained in matters of money. And it’s understandable why erstwhile enthusiastic buyers are postponing closing deals in such times. Yet, Berniker encourages brokers to manage the agreements they have in the pipeline and work their way through the panic and doubts of their clients.
Remember why you buy in the first place
According to Berniker, “owning real estate is a keystone of wealth.” The world is ready for those with deep pockets and high ambitions. And the reason why most big-spenders dream of owning a hi-profile piece of real estate is because it stamps their coming on to the world stage like nothing else.
Why wait now, when you can wait later
Berniker has been charging through the world of real estate since 2007. He was considered the most expensive sale in London’s history – the purchase of 1 Hyde Park Penthouse in London. He was also involved in a massive commercial closing of 1501 Collins Avenue in Miami. After struggling and succeeding, he suggests that his clients who are in two minds not to waste their time waiting to make the right decision but to buy quickly and then wait for the highest bidder to show up.
If you feel ready, you are ready
Berniker believes that “real estate starts when you are worthy.” While he encourages his clients not to overlook the economic trends of the day, he also warns them not to overestimate the risks. He calls it the x-factor and urges clients to rope it in as a decisive factor in luxury real estate purchase.
Ido Berniker’s mindful tips have the potential to offer solace to buyers and sellers. Whether they will pay heed or not, only time can tell.