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Posted: May 16, 2017
2017 Women in Professional Services: Sherry Fan of Marks Paneth LLP
Marks Paneth LLP
Name: Sherry Fan, CPA
Title: Director, Real Estate Group
Company Name: Marks Paneth LLP
Years in real estate: 16
How have you navigated obstacles to achieve success in your career? My biggest obstacle to overcome – both professionally and personally – was my minority status. Not only was I an immigrant trying to navigate language barriers, social customs and pop culture (I didn’t even know who the Beatles were when I arrived!), but I was also a female in a profession traditionally chosen by men. Along the way, I clung to my family’s strong work ethic, a fierce determination to acclimate to American culture, and my desire to do something rewarding and meaningful with my life. Most importantly, I made myself step out of my comfort zone to achieve my dreams.
How do you play your strengths to your advantage in your career? Ironically, my largest obstacle also turned out to be one of my greatest advantages. I am now able to use my native language and cultural roots to forge relationships with clients of Mark Paneth’s China Desk. I have the unique ability to understand their cultural differences and approach their business challenges in a sensitive and non-threatening way. I landed in the real estate industry by chance, but pursued it because of my passion for the industry and a sincere desire to learn from my clients. Loving what I do has always been one of my greatest strengths.
What trends are you seeing so far this year? The co-op/condo market continues to grow, but not at the same rate this year, as families continue to be priced out of urban life. The luxury real estate market in New York City is slowing down. Foreign buyers, who traditionally snatch up these properties with cash, are experiencing more restrictions in currency flow and are finding it difficult to secure bank funding with no US income. This is particularly true of buyers from mainland China after recent policy changes.
What do you do for fun? I love to spend time with my husband and daughter, browsing art galleries and attending Girl Scout outings.
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