Berkshire Hathaway HomeService Island Properties Co-Principal Broker, Robert Sarkisian
Welcome to July’s 5 Questions With! This month we sat down with Berkshire Hathaway HomeServices Island Properties’ Principal Broker, Robert Sarkisian, for an insightful Q&A on all things Nantucket real estate. Over the last 17 years, Robert has been an integral part of the Island Properties team, creating long-lasting, multi-generational client relationships through his relentless ability to offer outstanding service and impeccable attention to detail. In this discussion, Robert reflects on his start in the industry, updates us on the current marketplace, and shares the advice he gives to new BHHS Island Properties agents.
Let’s dig in!
What was the catalyst that brought you into the Real Estate industry?
Prior to joining the Island Properties team in 2004, I was the General Manager of 21 Federal, one of Nantucket’s premier restaurants with a national reputation. It was very common back then to have customers ask me to refer them to a real estate agent. They trusted me and as a result trusted those professionals I would recommend. I had many friends in the real estate business and I took careful consideration to match up and introduce customers to the right broker. Finally, after 15 years on the island, and making these connections and introductions over and over again, it occurred to me that I could help them. I asked myself, “Why don’t I get my license and really dive into this business?”
I could see the successes of friends on the island who are real estate brokers. And I knew I had the right work ethic needed to be successful in the industry. Service and attention to detail were skills I was able to carry over from working in the restaurant industry to selling real estate. More importantly, real estate was something I could do well into retirement. So I got my real estate license and joined Island Properties.
Initially, I was still running the restaurant and working for Island Properties and I quickly found myself with an arsenal of high net worth clients. I had already built trust with families after working at 21 Federal for so many years. Half the battle is relationships in the real estate business. It was a really good situation and I came out of the gates fast with some big sales right away. After 21 Federal closed, I seamlessly transitioned to a full time broker role at Island Properties. I never looked back. I’ve worked hard at my craft and have been fortunate that it worked out the way it did.
You are involved in a lot of island organizations and events. What has become your favorite way to make a difference in your community?
During the pandemic, I was the Master of Union Lodge on Nantucket, the world’s largest Freemasonry Fraternity. As Master of this organization I was able to mentor men from all walks of life and ages. Together as a group we could encourage and lift one another up and I believe that this work was my calling. I remained positive throughout the pandemic, choosing my faith over fear which offered these men some light during a very dark time. I also helped to create a Widows program where we assign officers to several island residents associated with Union Lodge who have lost their spouses. Always, but especially during the pandemic, we want our widows to know they are not alone and that someone is thinking of them. We coordinate something special for them every quarter. This includes a Christmas package, Valentine’s treats, Easter dinners and a summer pizza party delivery. It is very rewarding to bring joy to so many people.
Another initiative I continue to support is the Nantucket License Plate program that came out of a vision I had many years ago as board chair of the Nantucket Lighthouse School. My co-chair Tucker Holland and I are very proud of what we’ve created. Through the program we’ve given away over 1 million dollars to 20 nonprofits that serve Nantucket children year-round. The best part is that it’s a perpetual gift because as people renew or get a new plate, additional money is donated to the community.
In a recent blog you talked about your reflections on the last year and the impact 2020 had on the real estate industry. With 6 months gone now in 2021, what are the most recent statistics telling you about the current market?
The fast and furious pandemic market is still here. There are only about 190 active listings right now compared to what typically would be over 500. There is a limited supply, we still have a very strong demand and interest rates are still at record lows. It’s a pure sellers market which makes it a challenging time for the buyer. We are seeing more things sold as-is or with no contingencies. There’s a lot of competition and it’s moving quickly. The rules of supply and demand apply as they always do.
This past spring there was an urgency to be on the island for the summer so buyers were willing to pay a premium for property on Nantucket. Now, being in the middle of the summer season, this urgently has not cooled off but as the need to find something for the summer subsides, I expect it to calm down just a bit. We are going to have another record year. But I anticipate that the last quarter won’t be quite as strong as we had in 2020 due to last year’s delayed start resulting from COVID restrictions. We are also getting many sellers now who are testing a higher asking price; they are not as motivated to sell, but are interested to see what offers they can get on their homes.
What piece of professional advice do you give new agents that join the BHHS IP team?
I usually say that you have to be a self-starter and that it’s going to take time. This is a very challenging time to enter the realty profession. But it’s also a good time because there’s a very limited inventory so you have a unique opportunity to get familiar with your properties. It still takes patience and persistence. You need to put in the time and stay focused building trust within your sphere of influence.
Another piece of advice I always say is that, when you get a call take time to listen to what their needs and goals are so that you can create an effective strategy. Let them walk you through these goals. Your job is to listen to everything they say – it’s revealing and important.
Bottom line, be a self starter, hone your attention to detail, build trust and listen to your client’s needs and how they want to work with you. In the end, remember, it’s a process and you have to be patient. You’ll learn something new from each transaction.
When you return to Nantucket after being away for a long period of time, what do you look forward to the most?
I usually return on the last boat, in my car filled with suitcases and bags from my travels. As I round Brant Point, I see my church on the hill, a beacon of light in the community, and smell that beautiful salt air in the harbor. When I pull off the ferry, my heart sings when I hear the gentle foghorn. As I drive over the cobblestones of historic Main Street, and because it’s usually about 10:15 at night, it’s quiet, empty and peacefully serene! I’ve been off island and I return with a bit of sensory overload from the large and noisy stores, restaurants and airports. So, as I climb my stairs, I just feel instantly decompressed and blessed to be home. Whenever I return from my travels, I’m truly happy to be back and ready to enjoy a nice dinner in the company of island friends.