Emmett Laffey
President and CEO
Berkshire Hathaway HomeServices Laffey
International Realty
Greenvale, New York
https://www.bhhslaffey.com
Region served: Metropolitan New York area of Brooklyn, Queens and Long Island
Years in real estate: 35
Number of offices: 14
Number of agents: 450
Tell us how you got into real estate and how you transitioned to becoming an owner.
I got into the industry as I turned 18 during my senior year in high school and sold my first house before I graduated. My father, Tom Laffey, founded the firm in 1974, so I literally grew up in the business. I quickly rose to top-producing agent, then branch manager. Within 10 years I became a principal owner, and I have never looked back.
How does being part of the Berkshire Hathaway HomeServices network help advance your growth?
In early 2018, I had the opportunity to transition my firm into the Berkshire Hathaway HomeServices network—a move that has grown the company from three locations to 14 in just over 48 months. The Berkshire Hathaway brand is extremely strong when it comes to attracting top agents who truly want to move up to the next level in income and production as well as those who are looking to move away from being a typical agent and becoming a trusted home advisor with their buyers and sellers.
What tools, resources and support does Berkshire Hathaway HomeServices offer that have bolstered the company’s overall growth mission?
Berkshire Hathaway HomeServices provides a brand that is unmatched in the eyes of agents, buyers and sellers. It’s different to be part of a Warren Buffett company, as it’s everything you would expect from being America’s No. 1 brokerage and more. Most impressive is the amount of referrals generated among the 1,500-plus networked offices. The loyalty of the agents to the brand and their fellow Berkshire Hathaway colleagues is industry-best in my book.
How do you see the market evolving this year?
The metro New York market on Long Island, Brooklyn and Queens has turned into a buyer’s market. While transactions are seasonal at the area’s core price ($500,000 to $1,250,000) and selling prices are mainly level over the last year, the luxury market over $2,500,000 is softening and prices are beginning to pull back. The higher you go, the softer it gets. Overall units are down about 15% compared to last year as sellers and buyers have paused a bit due to rising interest rates and selling prices flattening. I believe the market will continue on this path throughout this summer.
You recently merged with Fillmore Real Estate. What were the most important considerations involved in that transaction, and what are your expansion plans for that market?
In November 2022, my firm merged with Fillmore Real Estate, Brooklyn’s largest brokerage, with five locations throughout the borough. A family-run organization established in 1996, Fillmore was a perfect match for the Berkshire Hathaway HomeServices brand in that our core principles of integrity, longevity, stability and trust are completely aligned. I will continue to expand into new locations throughout Brooklyn, which is basically tied with Chicago as the third-largest city in America. It is the second most populated county in the U.S. behind New York City, with an average sales price above $900,000. We’re preparing for very exciting times ahead.
For more information, visit https://www.bhhs.com/.
