Women Leaders Of Real Estate: Stephane Guerrier of Compass On The 5 Things You Need To Succeed In The Real Estate Industry
An Interview With Jason Hartman
Embrace change and be open to new ways of doing things. The real estate industry is constantly evolving, and those who can adapt to technological advancements, market shifts, and unexpected challenges tend to thrive. When our team was on lockdown, we quickly pivoted to virtual tours, video conferences, and digital marketing to continue serving clients.
As a part of my series about strong women leaders of the Real Estate industry, I had the pleasure of interviewing Stephane Guerrier of Compass.
Originally from Port Au Prince, Haiti, Stephane has resided in New York City for over 30 years and is a homeowner in West Harlem. Prior to joining The Julia Hoagland Team, Stephane worked for a boutique real estate brokerage and, before that, handled luxury sales at Bergdorf Goodman for 17 years. This is where she learned the art of not only meeting client’s expectations but exceeding them.
Thank you so much for doing this with us! Can you tell us the “backstory” about what brought you to the Real Estate industry?
My journey into the real estate industry was sparked by an unexpected twist of fate. After nearly 17 years of thriving in luxury sales at Bergdorf Goodman, I decided to take a bold leap and transition to the Barney’s shoe department. I believed it was my dream opportunity, but it quickly crumbled under the weight of internal challenges and bureaucracy.
I chose not to take it personally and instead viewed it as an opportunity to delve deeper into my true purpose. During my time in luxury sales, I honed an innate ability to connect with people on a profound level, and I acquired invaluable selling skills. It struck me that the same Park Avenue ladies I had assisted with shoes were likely the very individuals whose homes I would one day sell. Moreover, I couldn’t help but notice that my fellow shoe salesmen and I might have been responsible for why closet space throughout Manhattan was never quite sufficient!
Can you share with our readers the most interesting or amusing story that occurred to you in your career so far? Can you share the lesson or take away you took out of that story?
In this industry, we encounter a myriad of situations where people buy or sell homes for various reasons. Sometimes, it’s about embracing a new chapter in life, and other times, it’s amidst challenging circumstances like a couple parting ways. As an agent, it’s a delicate balance to maintain neutrality while offering empathy. What’s fascinating is how, over the course of this process, the initial tension and sadness within the couple gradually give way to a sense of closure and empowerment. It’s a remarkable transformation, showcasing the profound impact we can have as agents.
Do you have a favorite “life lesson quote”? Can you share a story or example of how that was relevant to you in your life?
One of my cherished life lesson quotes is, ‘Start where you are, use what you have, do what you can ‘ from Arthur Ashe. This quote serves as a constant reminder that progress often stems from taking action rather than striving for perfection. Throughout my journey of personal and professional growth, I’ve encountered numerous instances where the fear of imperfection or the prospect of failure held me back. This quote has urged me to take initial steps with confidence, knowing that I can adjust, adapt, and refine my path as I go along.
Are you working on any exciting new projects now? How do you think that will help people?
We’re currently working on two exciting projects focused on decluttering, renovating, and staging apartments for listing. As the real estate landscape evolves, we’ve noticed a growing preference among buyers for move-in-ready properties or those requiring minimal renovations. With this in mind, our projects are focused on giving the units a fresh and contemporary feel. This approach not only optimizes sale prices for our clients but also simplifies the purchasing process for buyers, saving them valuable time, effort, and often substantial renovation expenses. The days of paying less for extensive renovations have shifted, and our projects reflect our commitment to adapting to these changing market dynamics.
What do you think makes your company stand out? Can you share a story?
What truly sets Compass apart is its commitment to leveraging technology to empower agents and enhance the overall real estate experience for our clients. A prime example lies in Compass’s seamlessly integrated CRM system, driven by cutting-edge AI. This system actively assists us by offering valuable insights and recommendations regarding potential sellers, not only saving time but also maximizing opportunities. Additionally, our marketing center stands out, granting agents the capability to swiftly and effortlessly create top-notch marketing materials. Whether it’s designing property flyers or launching social media campaigns, Compass’s marketing tools simplify the process, enabling us to focus on our core strengths — building relationships and closing deals. Moreover, the Compass Collection is another standout feature, curating a personalized selection of properties for our buyers and facilitating direct communication with their agents via the app. Our clients love the Compass Collection for its intuitiveness and the seamless way it enables text and email communication within the app, streamlining property viewings and requests.
None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story about that?
I’m grateful to my principal broker, Julia Hoagland, and her then-business partner, Katie Di Mattia, for their instrumental role in shaping my journey from a retail background to a successful career in real estate. Their mentorship was structured and methodical, emphasizing the significance of checklists and processes. Under their patient guidance, I gained the confidence and knowledge essential to navigate the intricacies of the real estate industry. Their mentorship extended beyond the technical aspects of the business; it underscored the values of ethics, professionalism, and unwavering commitment to delivering exceptional service to clients.
Ok. Thank you for all that. Let’s now jump to the main core of our interview. Can you share 3 things that most excite you about the Real Estate industry? If you can please share a story or example
I’m excited about the impending fall season, traditionally one of our busiest periods. The transition from summer to the business-as-usual mindset signals a renewed focus on big-ticket items, such as property purchases. Despite a somewhat subdued spring season, the prospect of a more lucrative fall market is invigorating. In real estate, change is constant, and life events often drive transactions.
Secondly, my enthusiasm extends to the growing role of technology in real estate. Leveraging advanced tools not only streamlines processes but also allows me to reclaim time for proactive prospecting and client engagement.
Lastly, the upcoming elections and the potential for economic stability are grounds for excitement. A more stable political and economic climate can lead to reduced uncertainty, which often boosts confidence among buyers and sellers alike.
Can you share 3 things that most concern you about the industry? If you had the ability to implement 3 ways to reform or improve the industry, what would you suggest? Please share stories or examples if possible.
I don’t think I’m alone in saying that one of our main concerns right now is the rising interest rates! Higher interest rates lead to slower property sales, longer listing times, and potentially lower property prices, which can be a challenge for both buyers and sellers. If we can work with financial institutions to alleviate some of the burden on the buyer with incentives, that would be a game changer.
The real estate industry’s lack of transparency in co-op applications, especially in NYC, where nearly 65% of properties are co-ops, poses a significant concern. The mysterious nature of why client applications are rejected leaves both agents and buyers in the dark. One suggestion is to establish a standardized feedback process for co-op application rejections, providing clear insights into areas needing improvement and allowing applicants to address specific concerns for future applications/reviews.
The Real Estate Board of New York (REBNY) requirement for its members to co-broke highlights the importance of cooperation and collaboration among different brokerages. To ensure a more seamless and efficient co-brokering experience, it’s crucial for the entire real estate industry to embrace technology and AI initiatives. This enhances the overall customer experience by providing more accurate and timely information, faster transaction times, and improved transparency.
What advice would you give to other real estate leaders to help their teams to thrive and to create a really fantastic work culture?
To foster a thriving real estate team and create a fantastic work culture, lead by example. Your team will take cues from your values and work ethic. At the Julia Hoagland Team, camaraderie begins with our principal, Julia, setting the tone for a supportive and cohesive work environment. Embrace the old adage that there’s no ‘I’ in team, encouraging collaboration among team members. Share knowledge and best practices to help everyone grow and succeed. Additionally, she fosters a diverse and inclusive work culture where everyone feels valued and respected. Embrace different perspectives and backgrounds, as they can lead to more innovative solutions and a stronger team dynamic.
Ok, here is the main question of our interview. You are a “Real Estate Insider”. If you had to advise someone about 5 non-intuitive things one should know to succeed in the Real Estate industry, what would you say? Can you please give a story or an example for each?
Embrace change and be open to new ways of doing things. The real estate industry is constantly evolving, and those who can adapt to technological advancements, market shifts, and unexpected challenges tend to thrive. When our team was on lockdown, we quickly pivoted to virtual tours, video conferences, and digital marketing to continue serving clients.
Understand that you don’t need to know everything in real estate. I struggled with this a lot when I first started. The beauty of working on the Julia Hoagland Team is that you have a wealth of knowledge from six seasoned agents who have 45 years of collective knowledge!
Building authentic relationships with clients, colleagues, and industry professionals is crucial. People will always remember how you made them feel. Do your best to leave the client so pleased with your interaction that they later refer you to a friend who was also in search of a property. This experience highlights the significance of genuine connections, not only for the success of individual transactions but also for expanding your client base through referrals. The Julia Hoagland Team is nearly entirely referral-based.
The name of the game is getting two parties to come to a meeting of the minds, so sharpen your negotiation skills! It’s not always the price that is the sticking point, so get crafty. We once had sellers who needed to stay in the apartment for a few months, and while the price was important, the timing was a close second, so we negotiated that for our seller, and everyone left the table happy.
Lastly, effective time management is a critical skill. In this industry, every moment counts. For instance, Compass’s tour tool has been an absolute game changer. With efficient time management and route planning using this tool, I have been able to accommodate all appointments seamlessly, ensuring no opportunity was missed.
Because of your position, you are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? You never know what your idea can trigger. :-)
I firmly believe that the foundation for a brighter future lies in empathy. It can bridge gaps, dissolve prejudices, and foster understanding among us all. To promote empathy, my vision involves collaboration with educators to infuse empathy into the curriculum, starting with the children. Additionally, for adults, I envision a global ‘Walk in Their Shoes’ challenge sweeping across TikTok, Instagram, and other social platforms. Through these acts of compassion and understanding, we can collectively ‘walk the walk’ (pun intended) toward a more empathetic world, one where kindness and connection prevail. It’s never too late for us, as adults, to be catalysts of change.
How can our readers further follow your work online?
LinkedIn: https://www.linkedin.com/in/stephaneguerrier77/
Instagram: https://www.instagram.com/fashion_house_ny/
Thank you for your time, and your excellent insights!
About The Interviewer: Jason Hartman is the Founder and CEO of Empowered Investor. Jason has been involved in several thousand real estate transactions and has owned income properties in 11 states and 17 cities. Empowered Investor helps people achieve The American Dream of financial freedom by purchasing income property in prudent markets nationwide. Jason’s Complete Solution for Real Estate Investors™ is a comprehensive system providing real estate investors with education, research, resources and technology to deal with all areas of their income property investment needs. Through Jason’s podcasts, educational events, referrals, mentoring and software to track your investments, investors can easily locate, finance and purchase properties in these exceptional markets with confidence and peace of mind.
Starting with very little, Jason, while still in college at the age of 19, embarked on a career in real estate. While brokering properties for clients, he was investing in his own portfolio along the way. Through creativity, persistence and hard work, he earned a number of prestigious industry awards and became a young multi-millionaire. Jason purchased a California real estate brokerage firm that was later acquired by Coldwell Banker. He combined his dedication and business talents to become a successful entrepreneur, public speaker, author, and media personality. Over the years he developed his Complete Solution for Real Estate Investors™ where his innovative firm educates and assists investors in acquiring prudent investments nationwide for their portfolio. Jason’s sought after educational events, speaking engagements, and his popular “Creating Wealth Podcast” inspire and empower hundreds of thousands of people in 189 countries worldwide.
While running his successful real estate and media businesses, Jason also believes that giving back to the community plays an important role in building strong personal relationships. He established The Jason Hartman Foundation in 2005 to provide financial literacy education to young adults providing the all-important real world skills not taught in school which are the key to the financial stability and success of future generations. We’re in a global monetary crisis caused by decades of misguided policies and the cycle of financial dependence has to be broken, literacy and self-reliance are a good start. Visit JasonHartman.com for free materials and resources.
