Getting to Know Joe Baglio…..

Joe Baglio

While other young kids were dreaming of becoming superheroes when they grew up, Joe Baglio, Managing Partner of Madison Estates, was thinking real estate, even if he wasn’t quite sure at the time what that meant.  “I was drawn to the business at a very young age and intrigued by the process,” he says. “The thought of owning property was always attractive to me as well.”

A Brooklyn boy at heart, Baglio has seen the borough he’s called home since birth go through changes and believes it’s come a long way since he was a kid growing up. It’s a place where home values continue to rise, and the bottom line is, buyers are attracted to what Brooklyn has to offer.

We spent some time chatting with Baglio to learn more about what he believes makes the Brooklyn real estate market so attractive….

How do you spot an area that is on the rise before it truly explodes on the market?

Real estate is like a living, breathing organism; it has a pulse and you can just feel it. There are certain subtleties that you have to look for. I am a big fan of people watching, which will usually give an area away. And it’s a combination of the properties, architecture, and people that will indicate if an area is exploding or about to.

As the real estate market continues to prosper and we get closer to the New Year, what areas would you say in your opinion are currently in demand?

Right now I am very bullish on Prospect Lefferets Gardens; it’s an area I’ve spent a lot of time in and have witnessed its change right before my eyes. It has amazing architecture with many limestone and brownstone blocks as well as new, larger scale rental buildings that are fully amenitised which are attracting a younger, artistic demographic.

The original roots of the area are still strong which makes it even cooler. There are lots of restaurants on Franklin, Bedford, and Washington Avenue, plus you can walk to Prospect Park and the Brooklyn Museum.   

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As homebuyers, sometimes finding the perfect place takes longer than we hope. As a seasoned broker, what advice do you have for those potential buyers who walk through Madison’s door?

To always be honest and transparent with your broker. You’re trusting them to help in finding one of the greatest investments of your life. A good broker should know what your wish list vs your needs list is.

What types of changes do you see happening in 2018 for Brooklyn?

I believe Brooklyn has far to go with many areas on the South Shore that still have not been tapped, or should I say discovered. Growing up I remember the backlash I would get when I would tell someone I was from Brooklyn; at that time it wasn’t very chic to say that’s where you were from; it’s still sounds crazy to me when I think about that.

For newcomers, what would you recommend are the “must see and do” things?

You must tour the “Gold Coast”; start in Greenpoint and follow the coast all the way to Coney Island. The diversity, architecture, cultures, and sites will blow your mind!

When you’re not on the hunt for the next great property/location, what do you enjoy doing?

I truly enjoy spending time with my family. I am blessed with a beautiful wife and two beautiful children. My kids allow me to tune out the world and shut down my engines. I get to unwind and jump onto their level which is not all that difficult for me considering I’m a child at heart!

Your greatest passions?

My family and my work.

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Keeping it Real in Real Estate

Finding an honest real estate agent doesn’t have to feel like climbing Mount Everest – if you do your homework. From reality-defying resumes to half-hearted guarantees, these are our top tips to catching the real estate Pinocchio.

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The liar’s language

If you’re a buyer, make sure the facts aren’t for sale as well. Commonplace listings jargon includes “BATVAI,” meaning “buyer’s agent to verify all information,” and “IDRBNG,” which means “information deemed reliable but not guaranteed.” In these cases, the onus is on you or your agent to confirm the accuracy of the listing information. Agents may also pad their sentences with qualifiers such as “To tell you the truth”, “To be honest” and “I swear to God.” If your agent is naturally a trustworthy person, do they really need the linguistic buffers?

Inflation situation

For real estate agents, property sales put dinner on the table so it’s easy to see why they can be optimistic when it comes to sale price estimates. Whether you’re looking to buy or sell, check out other homes in the same neighborhood or get an appraisal by a third party to verify the selling agent’s prediction. But not all high prices are tall tales. If you feel like an agent is giving you an inflated price, put them on the spot to explain how and why they are so confident (there may be legitimate reasons!).

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Spot the difference

Speaking of putting agents on the spot, take note of any hesitation and changes in body language when you probe for more details, especially when they proclaim to know a list of potential buyers for your property. Who are they? What are they looking for? How long have they been looking to buy? Put on your NYPD hat and if you’ve spent sufficient time with the agent beforehand, you should notice changes in speaking pace, mannerisms and fidgeting as well as exaggerated smiles or laughing if they’re stressed. Following these anxious exchanges, keep an eye out for a sigh of relief which can be seen in sudden relaxed body language and posture as well as a change in facial expression. This may suggest they just faked their way through their testimony on the stand.
You can handle the truth!

Ask for a copy of your agent’s production record. Request your agent print a copy from the MLS or you can ask another real estate agent to do it. You can find out about your agent’s number of sales, the price of sales and the properties’ locations. Within the industry it’s typical for ‘top sellers’ to sell one property each month or 12 a year. How does your agent stack up?

‘Testimoanials’

Is your agent relaxed about sharing more information about their previous clients or do they begrudge it as an inconvenience? Agencies scream and shout when it comes to testimonials on fliers and websites so double check they’re real. Check for full names and whether the agent is happy for you to call their clients as a reference – just like any other job interview.

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Keep them honest and on it

Have the confidence to know the customer comes first. You have the power and their reputation is in your hands. Find ways to make it obvious that you could potentially spread the word to your network of either a very pleasant or damaging real estate experience. You could also name-drop people you know or even the names of their co-workers or supervisors that you’ve been in touch with to keep them on their toes.