Although she no longer owns The Corcoran Group, Barbara Corcoran is still considered the “empress” of New York real estate, as she was called during her introduction at the Real Estate Board of New York’s Residential Management Council Leadership breakfast at the Yale Club. And the “empress” gave her subjects some advice on the New York City real estate business, from what makes a good building, to how to keep your sales force happy. Here are some highlights:

A bad doorman and a poorly decorated lobby can break a sale. Corcoran recalls that when she first went to look at the Park Avenue apartment where she now lives, the doorman gave her a warm handshake and “hello.” “The doorman is the human embodiment (of a building),” she said. Doormen should be warm, friendly and eager to greet. They should also have a uniform that fits. Corcoran marveled that some buildings won’t spend the money to spruce up their lobbies. She said that an informal survey of brokers showed her that a dingy lobby is one of the biggest complaints that brokers have about a building. Moreover, she said that elevator landings can make a huge difference. She said that she spent money to redecorate her own elevator landing to add value to her home.
Cut down on meaningless paperwork. Computers have made paperwork less of a hassle, but it is still a problem. “It’s very easy to add paper work, but hard to eliminate it,” said Corcoran. She said that brokers should learn to put complete co-op board packages in PDF files, which will make it easy to send to all parties involved in the sale. Also, she recommends keeping an up-to-date timetable to keep track of the progress of a sale.

Make sure you hire the right people. If you hire the wrong person, fire him or her. Corcoran said that she held interviews every Thursday, whether she had positions open or not. If she found a winner, she would fire a loser and hire
the winner. “I rarely hired the wrong people,” Corcoran said. “When I did bring the wrong people, I fired them fast. I didn’t want the other employees to pay for my misjudgment.”

Happy employees are productive employees. Corcoran said she spent a good third of her time figuring out ways to keep her workplace fun. She especially liked to throw parties. She also kept an “idea box,” and gave employees money for every idea, whether it was good or bad, because she wanted ideas, period.

The media controls the market — but learn to use the media to your advantage. Corcoran said the housing market tends to follow the media and not the other way around. If the media speculates that there is a downturn, look for it. If the media speculates an upturn, you can expect that, too. Whatever the case, Corcoran said she took full advantage of the media by tossing out story ideas and offering herself as an expert in real estate. And it worked.

Today, she is a columnist for the Daily News and appears frequently on national television as a commentator.

#1 – Kennesaw, Georgia. $394,000.

Just 20 miles from Atlanta, this 4 bedroom, 3.5 bath in a cozy suburb has it all. The town was incorporated in 1887, but the area has history dating back to before the civil war. Kennesaw sits right at the foot of the Appalachian mountain range, with loads of beautiful lakes (including over 400 miles of lake shoreline!). The schools are top-notch, earning Kennesaw a selection as one of the “Top 10 Cities for Families” by Family Circle magazine.

With a hardcote off-white stucco exterior, this home really knocks you off your feet as soon as you come up the front drive. Nestled in the trees of this private lot, the home boasts a large exterior deck that’s both beautiful and secluded. The kitchen, recently updated, has lustrous wood flooring. Pictured, the family room has a vaulted ceiling with an elegant fireplace and big french doors. And it doesn’t even stop there: the master bath has granite floors and a whirlpool tub.

#2 – Corpus Christi, Texas. $214,900.

Corpus Christi is a beautiful waterfront town on the Gulf of Mexico with great attractions and even better weather. The town is located on the lively, rapid growing south side of the city – putting you right in the thick of the action. The hometown of Farrah Fawcett and Eva Longoria, Corpus Christi gives you a little bit of everything.

The 4 bedroom, 2.5 bathroom home is built in a Mediterranean style with a double height entryway and a huge backyard. For just $214,900, you get 2,468 square feet in this deal of a home. The open floor plan has 2 living rooms and 2 dining rooms in addition to a grand, spacious family room. The big kitchen has granite countertops and a master chef’s double sink. A dramatic master bedroom has tray ceilings, a jetted tub, and a separate shower.

#3 – Chelsea, Massachussets. $499,900.

Look at the view from this beautiful townhome on Admiral Hill! Admiral Hill, Boston’s best kept secret, is just a few minutes from downtown and is still just out-of-the-way enough to be a great place to live. The area was formerly home to a naval hospital in the 1800s, meaning this end unit townhome has access to a huge 23 acre waterfront park and stunning views of the Boston skyline.

Did we mention it has a great view? This 3 bedroom, 2.5 bath has a cozy living room with sliding doors that open onto a new white-railed deck. The first floor is completely hardwood, with a granite half-bath and a custom built entertainment center. Upstairs, the master bedroom has a picture window with cathedral ceilings and a granite bath to boot.

#4 – Sarasota, Florida. $324,900.

Sarasota, famous for it’s sugary beaches and vibrant downtown, is the setting for this great value of a home. With a view of a large nature preserve and frontage on a peaceful lake, this home in an active adult community brings a private repose to Flordia living. Living in this gated community also gives you access to a clubhouse and fitness center, along with your own private pool.

The open floorplan boasts a lanai with pool, its own spa, and even an outdoor kitchen. The kitchen has a huge breakfast bar and separate eating area. There’s even a formal dining room and a big library or den. With 2 bedrooms and 2 baths, this home is a steal.

#5 – Des Moines, Iowa. $329,900.

This one is located in Des Moines, Iowa – rated by Forbes Magazine as one of the top cities in the country to get the most bang for your buck. The city is the largest in Iowa, and comes into the national spotlight every four years during election season for the very important Iowa caucuses. Within 5 minutes of this home are many walking and bike trails, and the neighborhood’s open layout means you get a big ½ acre backyard.

The 4 bedroom, 3.5 bath white clapboard house with brick front even sports a basketball court and 2nd level deck! The main floor has a formal dining room, living room, open kitchen with eating area, and a family room. The master bedroom sports a cedar-lined walkin closet, whirlpool tub, split vanities and a sauna! The lower level is finished with a TV and game room, workout area, study, and ¾ bath.

“Shark Tank” star Barbara Corcoran has a sense of humor. She must: an incredibly successful real estate mogul, she’s the author of three books, including my favorite title, If You Don’t Have Big Breasts, Put Ribbons on Your Pigtails.

Yikes!

On her ABC show, which airs its second season finale this Friday, February 5 at 9 p.m., Barbara is on a panel of experts assessing potential business investments. There are some great ideas; and there are some horrible ideas.

Barbara is the only woman on the panel and presents some of the best “Are you out of your mind?” facial expressions to the deer-in-the-headlights, wannabee capitalists.

But she’s also invested in a few good ideas along the way.

Hear it now! AUDIO EXCERPT: “Think of the opportunity and the sheer entertainment value of ‘Shark Tank’! We’re working 11-hour days, listening to pitch after pitch and we’re never bored. It is so fascinating! And then you go home with new business partners. Who would say no to something like that?”

You can LISTEN to this interview with BARBARA CORCORAN, real estate mogul and panelist on ABC’s SHARK TANK, by clicking the audio player above!

Seen at Sundance with the children of Benazir Bhutto – NY Post Page Six

By Tom Sheahan

Prospective homebuyers are checking Internet sales listings more frequently and attending open houses in greater numbers, the founder and former owner of a major Manhattan brokerage firm said Tuesday.

Both are signs that the nation’s residential real estate market is on the mend, said Barbara Corcoran, who launched her real estate business in 1973 with a $1,000 loan from her then-boyfriend.

“I believe the bottom of the market was last year,” she said in an interview. Corcoran, who sold her firm for a reported $70 million, was at Regent University to deliver one of its Executive Leadership Series lectures.

Since leaving the Corcoran Group in late 2005, she has been buying four- and five-story residential buildings in Manhattan, Brooklyn and the Bronx. She also has a television-production company and serves as a TV commentator on residential real estate.

One indicator she watches, Corcoran said, is the traffic at open houses. “The mood has changed,” and the wariness about buying a home is dissipating, she said.

However, financing a home purchase still can be a hurdle, and the reliance on federal lending programs may be here to stay, she said.

Corcoran, who grew up in a blue-collar community across the Hudson River from Manhattan, joked that she was “a straight D student.” But her mother provided encouragement.

“She ran the household like a boot camp and was a wonderful motivator,” said Corcoran, one of 10 children in the family.

Her business success, Corcoran said, was due largely to a combination of persistence and savvy marketing.

“I’m not religious, but I had faith that I would find a way” to overcome the hurdles that cropped up, she said. Strapped for cash during the real estate downturn in 1991, Corcoran said, she sold scores of apartments by listing them all for the same price and promoting by word of mouth.

“I sold 81 apartments in an hour flat and had 300 people waiting in line,” she recalled. When she was paid, she used the cash to open two more offices.

Corcoran said she had no plans when she sold the Corcoran Group. “I had no idea how much I would miss it,” she said.

However, selling the company provided financial stability, which she sometimes lacked. “I love going to bed at night knowing that I have enough cash in the bank,” she said.

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