Stribling Insiders: Garrett Derderian
As our resident data guru, Garrett is in charge of making sure our numbers add up so that agents can help their clients better prepare for their real estate journeys. Since joining Stribling, he has authored quarterly market reports for Manhattan, Brooklyn, and Queens as well as a bi-annual luxury report and a weekly Brooklyn luxury report. As if that weren’t enough, he also furnishes a monthly economic report, and helps agents with custom data projects (phew!) We sat down with Garrett to chat about why he could have been a storm chaser, and how it felt to launch the first live data center covering sales metrics across all of Manhattan, Brooklyn and Queens:
When did you first get into residential real estate and why?
My first foray into residential real estate occurred when I was eight or nine. My parents were looking at buying homes in Florida, and I became mesmerized by the market. I was not so much focused on the houses themselves, but rather the marketplace and emerging trends. I used to look up each address of all the homes for sale on my local county property records website. I was curious what each property was purchased for, and then compared it to the current selling price. I must have driven our real estate agent crazy — every home they pointed out I knew what the seller paid and when. This, of course, was before websites like Zillow existed, which then made the process much easier, quicker and accessible to a larger audience.
What is your favorite part about your job?
My favorite part about my job is creating our quarterly and yearly market reports. I find the whole process extremely captivating. Not only do I look at all the raw data to identify and analyze emerging trends and ‘hot’ neighborhoods, but I also write the reports. For me, the balance between the analytics and creativity behind writing the reports makes it fun.
Why did you choose Stribling & Associates?
The first and foremost reason is the culture. The second is support. I have worked at several firms, and while they all have their benefits, I have never been part of a firm with a more driven and supportive culture. Everyone works hard and supports new and ongoing initiatives. Feedback is immediate and constructive. Since I started at Stribling, our data department has expanded tremendously, and that would not have been possible without great leadership.
Do you have a favorite neighborhood and why?
The Financial District. The entire neighborhood seems to always be in transition. I lived near the World Trade Center throughout much of the reconstruction and opening of the completed towers. Living through the revitalization was an experience I would never trade. Now, it seems the entire neighborhood is becoming a 24/7 area. From Battery Park to the Seaport, new developments are on the rise, bringing in new residents, restaurants, and nightlife. The only constant in New York City is change, and the Financial District is the embodiment of it.
What do you like to do in your spare time?
I try to stay as active as possible, and recently joined a CrossFit gym. I’m also a big foodie, and try to explore as many neighborhoods and cuisines (which there are a lot of in NYC!) as possible. Every weekend, I pick a new neighborhood to explore — there are so many unique characteristics of each area. You really can travel the world in this city.
What is an achievement of which you are most proud?
I recently spearheaded and launched the first real estate data platform covering Manhattan, Brooklyn, and Queens: Stribling Analytics. It is the only platform of its kind to cover listings, contracts, and recorded sales in real time. The platform has been something I have been developing over the past year, and it was an exciting moment when I finally pushed it live to the public.
A childhood favorite, The Giver. I think it is important to remember the significance of choice, and the impact we all can have.
Favorite travel destination?
Scottsdale, AZ. It is like my home away from home. Nothing beats the desert heat.
Peking Duck is up there, although I am not sure I can pick just one.
If you weren’t in real estate, what career would you choose?
I used to want to be a storm chaser — Twister was also one of my favorite movies.