Since 2000, Pamela Liebman has been president and CEO of The Corcoran Group, one of New York City’s top residential real estate empires.
Liebman oversees the day-to-day operations of the company, gives direction to Corcoran’s managers and employees, and focuses the projects of a corporation that sells billions of dollars in real estate annually.
She is a New York City native, and studied at the University of Massachusetts, Amherst, and the European Business School in London. She has lectured at New York University, Fordham University, the 92nd Street Y, and the Real Estate Board of New York and serves on numerous panels and committees.
Liebman will speak at Real Estate Connect in New York City, Jan. 9-11, 2008.
Here are her answers to a set of questions posed by Inman News:
What do you see happening in the real estate market in 2008?
I finally had to get rid of my crystal ball because it was too heavy to carry around, so I can’t promise to predict the future for you. But I will say that, in light of the fact that the last two years were record-breaking for Manhattan real estate, I think our immediate future is not going to involve the same intensity.
There are reasons to be excited about 2008. There is lots of buzz about the phenomenal success and architectural wonder of new residential projects in Manhattan and Brooklyn. Plenty of people will have big bonuses to spend and with the weak dollar we’ll see continued strong interest in New York real estate from overseas.
What advice do you have to help real estate agents and brokers get through this market?
Thanks to the growth of our industry and the events of recent years, agents have to be more competitive and creative than ever to succeed. It’s easy to do well when everyone is buying and there is plenty of product to feed the appetite for homeownership. However, when circumstances change, that is when agents really have to adapt to new realities. Not everyone is good at change but there has been a lot of it recently, and today’s successful agent needs to be more flexible, more comfortable with technology, and more thoughtful about marketing themselves and their clients’ properties.
What was your first job?
What made you want to get into real estate?
I’ve always been attracted to the art of the deal and the excitement of salesmanship – working in real estate was something I wanted to do from an early age. I started working at Corcoran right out of school and never really looked back.
What’s been your biggest challenge in running the Corcoran Group?
As we’ve grown larger and expanded into new markets, it’s harder for me to stay connected to the pulse of what’s happening on the street because there’s simply so much going on that’s new and fresh that I can’t keep up with everything. I love the art of the deal but it’s hard for me to spend as much time as I’d like to with the agents.
If you had one thing to do over again in life, what would it be?
You can’t anticipate how even the smallest change may impact the rest of your life. Since things have turned out pretty well for me personally and professionally, I’m going to have to say nothing.
What style of home do you live in and when did you buy it?
We moved to a Tudor-style home in 2001.
What worries keep you awake at night?
I sleep pretty soundly.
What lesson did you learn in the last year?
No matter what, trust your instincts. They’re usually right.
What would your second career choice be?
What kind of music do you listen to?
R&B and hip-hop.
Who is your hero?
I’m a huge fan of Dr. Martin Luther King, Jr., a selfless and inspirational leader who changed the hearts and minds of a nation.
Hear Liebman speak at Real Estate Connect in New York City, Jan.9-11, 2008. The conference program and registration are available online via the Connect Web site.
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