Manhattan, NY The New York Real Estate Journal spoke with Jared Antin, this month’s Executive of the Month, for a question and answer session. Antin, the managing director at Elegran | Forbes Global Properties, has been with the brokerage since its early years, growing right alongside the company. His extensive tenure offers a deep look into Elegran’s journey, enriched by his personal experiences and he welcomes the chance to share.
How did you start with Elegran? Elegran was started in 2008 by Michael Rossi, and it was only a couple of years later, in 2010, that I became the 10th person to join him at the brokerage. I was drawn to Elegran early in my career because of its mission. Elegran has always aimed to humanize the world of real estate, and in the 13 years I’ve been here, in all the different roles I’ve held, that guiding principle has always stayed at the core of the company.
What was the company’s vision in the early days? The company started with a mission to support advisors who have the potential and sales skills to thrive in real estate, even if they didn’t have the relationships, pedigree or rolodex yet. The first advisors who joined Elegran were full of energy and ambition, so we provided them with the essential training, personalized coaching, and industry knowledge they needed to succeed. Over the years we have earned a great reputation for developing successful advisors; even as we’ve grown to more than 200 people, keeping that collaborative, team-focused culture has been key, and we’ve really managed to do it.
How did Elegran grow from a small firm to a leading independent brokerage in the global luxury market? It didn’t happen overnight, but we built a team of leading professionals who elevate the standards of the industry. From the start, we have been committed to supporting one another and always placing our clients’ interests before any deal. That’s been the key to our success — our trust and honesty. And now, more than ever, to succeed in this industry, you really need a genuine partner who can support your business growth. This has played a big role in our recruiting and we’ve drawn in top talent who see the value of the support we provide. Elegran provides coaching, a supportive culture, and dedicated marketing and operational resources for our advisors to adapt and excel in a challenging market. While we’ve grown much larger, our core commitment to trust, honesty, and innovation is still important to us.
a 10-year period and informs the firm whether the current is a
buyer’s or a seller’s market, i.e., which party possesses
transactional leverage. The four metrics that power it are:
supply, demand, median listing discount, and median price.
You called Elegran an innovative brokerage. How has Elegran’s technology evolved to stay on the cutting edge? Elegran actually started by designing our own tech tools. Our proprietary technology was crucial in NYC’s unique market which doesn’t operate off of a traditional MLS and the major tech services couldn’t meet our specific needs. This approach saved our advisors a lot of time and helped them better serve their clients. Then, about four years ago, changes to REBNY’s data standards allowed national tech firms to enter the NYC market. So, we shifted from our proprietary tech to partner with top tech firms, and now, we have an agile, AI-integrated tech stack.
Is there a moment or decision that you feel was crucial in positioning Elegran as a leader in the competitive NYC real estate market? Being invited to join Forbes Global Properties in 2022 was a pivotal moment in Elegran’s trajectory. Forbes Global Properties is the real estate partner of Forbes, one of the world’s most trusted media brands, and when we joined this network as the exclusive partner for NYC, we gained unparalleled global exposure and access to a billionaire audience. Now, in addition to our coaching and support, our advisors also have the advantage of a well-known brand behind them.
Why did Elegran join the Forbes Global Properties network, and what has it meant for the company, advisors, and clients? Joining Forbes Global Properties has been nothing short of a game-changer for Elegran. It elevates our brand, grows our presence in the marketplace and boosts our listings’ exposure. Since joining the network a year ago, we’ve actually seen the number of our listings and average listing price double. But it’s more than just visibility. It’s about connections too. Forbes Global Properties is an incredible network of the best independent brokerages around the world so we can share ideas, referrals, and gain insights we wouldn’t have otherwise.
Global Properties and Michael Rossi, founder
and CEO of Elegran | Forbes Global Properties.
How is Elegran positioning itself for success moving forward? We’re staying at the forefront of changes in our industry, ensuring we are proactive and keeping our advisors fully informed. We believe listings are going to be more important than ever moving forward as a key component of a successful real estate agent’s business. Arming our agents with a best-in-class listing pitch and unparalleled global distribution for their listings, we are giving our advisors the confidence to offer sellers something no one else can in this market — and deliver on those promises.
What is your outlook on the NYC real estate market, and how does Elegran adapt to its ebbs and flows? I’m bullish on NYC’s long-term prospects. Over the years, it has proven to be a stable, resilient marketplace and a top-five international real estate destination. Earlier this year, I had said the real estate market is liquid but discerning. As we near the end of 2023, the market has gotten more discerning and less liquid, but well-priced properties will still find a buyer. Our team looks at data differently. We arm our advisors and our clients with timely and actionable insights to make informed decisions. We’ve actually created two of our own indexes; the Elegran | Forbes Global Properties Consumer Sentiment Index and the Leverage Indicator. Both give clear insights into demand and the balance of power between sellers and buyers. Despite macroeconomic uncertainties, these indexes show NYC’s real estate market performing well, with Brooklyn slightly above and Manhattan slightly below the pre-COVID average in contract activity. These tools are invaluable for our advisors to educate clients and provide agile advice.
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