Steven James (right) on set at NY1 for an interview.
VITALS:
BHHS New York Properties’ New York City
Years in business: Since 2018
Size: 1 office, 120 agents
Regions Served: New York City (all five boroughs)
2022 Sales Volume: Just over $200M
2022 Transactions: 121
The story of the career of Steven L. James, president and CEO of Berkshire Hathaway HomeServices’ New York Properties’ New York City brokerage, might make a good movie one day—and had things gone another way, he might have been the one playing the role.
You see, before entering the real estate game, James studied acting at the American Academy of Dramatic Arts. But while he was struggling as a New York City actor, he took a job in 1979 as a full-time salesperson and never looked back.
He quickly rose through the industry, becoming an influential force in New York. He served as president and CEO of Douglas Elliman’s New York City brokerage, then after three decades there, he joined Berkshire Hathaway HomeServices, where he rose to become president and CEO of New York Properties.
What’s unique about working in New York City real estate?
Steven James: New York City and the brokerage community here is seeing an interesting situation, unlike anywhere else in the country. Manhattan is basically a rental market. No matter what the financial climate is, New York City agents have it easier than anywhere else because there’s always a supply of buyers who don’t want to continue renting and want to build equity.
How have things changed recently?
SJ: The rental market has gone through the roof, with the median price now over $4,000, a historic high. Things came down a little toward the end of 2023 and I think it may continue dropping for a little bit.
What are the company’s growth plans for 2024?
SJ: A lot depends on the market. We hope to have a downtown office and an Upper West Side office, but until the market sorts itself out, we’re just going to bide our time. We’re still doing a lot of recruiting. We have enough room to handle it, but we’re nearing the point where we’ll need more space.
What do you look for when bringing in new people?
SJ: People that work and play well with others. Those with a strong set of ethics and values. We look to trust people and you want to make sure you’re trusting the right people. So, we’re very careful about who we hire and take on as a licensee. I don’t need someone who claims to know everything; each day should be a learning and growth experience. That’s the environment we created and the people we look for.
When do you know it’s time to invest in tech and bring in new tools?
SJ: I think that everyone is paying attention to this every single day, especially if you’re online. I get hundreds of emails a day from entities and companies all over the world offering me new and different services. Berkshire Hathaway HomeServices is very good about having an IT department that vets a lot of these things. It’s just something you have to be on top of every day because it could make the difference between finding success or not.
What’s the best piece of advice you were ever given about your career?
SJ: There’s no right way or wrong way. It’s about finding your way. And it’s so true. We’re all different and that’s what makes the business so special. RE
For more information, visit https://www.bhhsnyproperties.com.
