2016 Women in Real Estate: Tracey Daniels O’Connell

Tracey Daniels O’Connell, O’Connell PC,

Name: Tracey Daniels O’Connell

Title: Founder

Email: [email protected] 

Years in real estate: 16

Company Name: Daniels O’Connell PC

Year Founded: 2015. Celebrating our first anniversary in August!

URL: www.danielsoconnellpc.com

Telephone: 914-750-4160

How did you get your start in real estate?

I was a corporate attorney drafting private placement memorandums for internet companies. The tech bubble burst but the real estate market was hot. I started representing sponsors drafting offering plans for condominiums. Similar concept but instead of offering stock for sale, you’re offering condo units.

What real estate associations or organizations are you a member of?

Building and Realty Institute (BRI) and CHIP

What have been some of the benefits of being a mentor or having a mentor?

Having a mentor that you trust and respect is priceless. Someone who has already been where you are and has insight into how to help you get where you want to be. None of us can do it alone. Surrounding yourself with the right people is key.

Who or what has been the strongest influence on your career and why?

My husband. He’s a real estate attorney as well. He is very supportive, particularly in this new venture. He is a great teacher, a great lawyer and a great mentor. And I suspect you’d hear something similar from other people that work with him, so it’s not just because I’m his wifeJ.

What time management strategies do you find to be the most effective for you?

I’m a checklist person! Crossing stuff off my to-do list is one of my favorite things to do. Before I leave work each night I make a list of what needs to get done the next day. And then I tackle the most dreaded or hardest item first thing in the morning.

What is the best advice you have received and who was it from?

My best friend had been working for JP Morgan for a few years when I first started practicing. She told me to always be honest, that if I didn’t know how to do something to ask for help instead of faking my way through it. She also taught me never to bring a problem to someone without a proposed solution.

When you launched your business what were some challenges that you experienced?

Creating the necessary business systems and infrastructure was a challenge. Doing quality work and managing client relations was something I was already doing, but setting up the right systems and procedures was outside of my wheelhouse.

How did you overcome them?

I’ve surrounded myself with quality people. I am affiliated with a full service Westchester firm, The Oxman Law Group, and I built upon their expertise working with tested IT staff, accountants and other professionals. I have lawyers down the hall with expertise in business litigation, municipality law, zoning, employment law, family law and trusts and estates. If there’s something I don’t have expertise in, odds are there’s someone down the hall who does.

What was a significant milestone or achievement for your company?

Just opening the door was huge! But in under a year I have been able to ramp up a solo practice to where I was when I left my former firm.

What advice would you give to a woman who is planning to launch her own business?

Be assertive. Stand up for what you need and take what you deserve. Too often women are afraid to be perceived as aggressive or the dreaded B-word. You can call it whatever you want, but I’m good and what I do, I’m proud of who I am and what I’ve accomplished.

How do you empower other women in your workplace?

I like my work place to be a collaborative environment. No one person has all the answer. I’m doing this for the first time myself. I try to be approachable and I encourage people to share their experiences of what has worked for them and what hasn’t.