Great leaders are differentiated from the herd because of their traits. These traits lay the foundation of their overnight success stories. Undistracted focus toward the goal is one such characteristic that has paved the way for bright minds in their initial days. Marc Sorrentino showcased similar traits when he initiated his academic journey at the New York University. His unquenchable thirst for knowledge and curiosity towards the real estate industry back in his early days have transformed him into a pioneer of the industry.
Marc believes, “Real estate investing is the best way to create wealth and financial freedom,” and the very idea has led him from owning a single house at Camden, New Jersey to becoming the licensed real estate broker that he is today. Additionally, Marc gives a large share of credit to his industry knowledge that he has gained over the years. According to him, better market understanding right from lease rates to renovation costs, to the lower and higher ends of resale are quite significant to excel in the field.
Rehabbing Made Easy
Other qualities that define Marc as a prominent leader in the business are his organizational and communication skills. He manages to accomplish even the most difficult of challenges with such quirks. For instance, rehabbing properties is an integral task in the real estate industry as it provides accuracy while estimating the gross profit after the completion. However, the complex nature of the task makes it difficult for most agents.
According to Marc Sorrentino, the first step of rehabbing is to locate a suitable property. The second step involves figuring out how ideal the property is based on its price, location, cost of renovation, and ultimately, the estimated resale value after renovation. He believes that one requires a deep understanding of all aspects right from the factors impacting the property price to the conditions affecting the resale value of the property. Nonetheless, Marc works with a great team of professionals who have the requisite knowledge of the process and constantly ensures successful rehabbing.
In addition, the same organizational skills help him attain success in the next step, which is marketing. According to him, marketing becomes a piece of cake when everything is done proficiently right from the color of the paint to the finishes and fixtures selected and installed. He believes, “Each and every day is another decision that must be made correctly because everything is building upon one another.”
Instrumenting Technology to Overcome Challenges
In his journey towards attaining a successful career, Marc has developed fruitful insights on real estate. According to him, challenges are destined to come every single day and must be resolved on a real-time basis no matter how strange or uncertain they are. He understands that obstacles come in all shapes and sizes and could arrive at all stages including rescheduling issues of various trades, unexpected costs, failing municipal inspections, delays of materials, cost overruns, market changes, or weather problems. Nonetheless, he manages to resolve these issues by applying his self-made strategies that involve meticulous planning, relentless execution, and high determination toward the goal.
On the other hand, cutting-edge technologies have played a crucial part in the evolution of the industry. Modern-day tools, such as the internet and social media, constantly help in generating better leads and improving sales. He believes knowing and being able to harness the power of the Internet leads to greater success. For instance, rehabbing has become more efficient with the help of latest technologies including software that tracks progress, monetary expenditures, and estimated completion time along with projected returns.
Adding Value in Clients’ Lives by Delivering Financial Freedom
Marc Sorrentino has garnered the reputation of his clients as a successful broker by getting the job done consistently despite the challenges. He has numerous clients that can attest to the simple fact that he and his team will overcome all challenges to accomplish the goal. He has an aggressive approach towards his commitment and that is what he advises to the budding players aspiring to enter the industry. “You must embrace the chaos that is real estate and deliver.”
Moreover, creating value for his clients, partners, and investors is top priority for Marc. And he attains the same by efficiently taking care of the basics such as delivering the project on time, matching up to the advised returns, and keeping the word at all costs. Another secret that Marc has shared is the three Ds of value addition i.e. dedication, determination, and discipline. He believes when one focuses on work, the results follow naturally.
Marc envisions delivering financial freedom to his clients by using his knowledge, skill, and professional team to locate properties, perform rehab, and provide desired returns. He aims to design a subscription-based website to set the platform for the same.
He mentions, “Everyone believes they can locate a property, rehab, and then resell the property for a mega profit. This is usually not the case and many people end up losing money.”
Whenever people see success, they believe that they can emulate the same. However, little do they realize that is a lot of skill and knowledge that goes into successfully rehabbing properties. In Marc’s own words, “It is an art as well as a science.”
Marc plans to help people build wealth by using the knowledge that he has acquired over the years, the skill that he has honed through various experiences, and his relentless drive and dedication.
The Windshield or the Rear-view Mirror?
When asked what he would change if given a chance, Marc answers that he does not believe in looking back. He believes nothing can be changed, hence, it is far more productive to concentrate on the present and the future. According to him, his present decisions are sound and advancing his present to his future goals. “There is a reason your front windshield is much larger than your rear-view mirror,” quotes Marc to further emphasize on his point.
Marc hopes for positive expansion of business in the future amid the uncertainties surrounding the current climate. On a professional front, he aims to develop a one-stop website that will streamline the process for subscribers and investors. On a personal front, he is planning to get engaged to his fiancé and start a family. While, on a passion front, he aspires to establish a boutique for sneakers. His fondness for sneaker shoes and determination to transpire that fondness into a business is another addition to his blessings.
Leading by Example
According to Marc, a good leader must go through trials and tribulations professionally and personally in order to lead and to be respected. “One has to believe that one is going to overcome every obstacle; no matter what” he further states. According to him, these traits come from the experience of being in extremely tough situations and from feeling first-hand personal and professional loss. In addition, he believes great leaders develop such characteristics by refusing to give up despite getting knocked down over and over again.
Leader Overview
Marc is an innovative leader, focused on achieving exceptional results in highly competitive environments that demand continuous improvement. He possesses high significant experience in driving product, process, and customer service improvements and specializes at building partnerships with key business decision makers. Marc Sorrentino has been working as a licensed Associate real estate broker at VRI Homes, a leading marketing agency, for over 23 years. In addition to this, he has completed a Master of Science, Real estate Construction, Development, & Finance from the New York University.
