Michael Lorber, one of Douglas Elliman’s rockstar brokers, is a name that comes up regularly as a real estate go-to because his level of insider knowledge about real estate in various regions. With a mind-blowing $1B in closed deals to date, the Michael Lorber Team recently grew by adding Eugenia Valliades, who serves on the board of the Hellenic American Bankers Association, and is active in the community as a member of the Quogue Wildlife Refuge.
The team is founded by Lorber and Alexander Boriskin, and has grown exponentially throughout the years, closing news-worthy deals time and time again. The East End team also includes Adam Hofer, a very well-known local agent who started in the luxury car sector before joining the real estate industry and is a star in the region.
We caught up with the team to learn more.
What is the differentiator that sets the team apart from all the rest?
Adam Hofer: There are many things! Some of the most important to me is that we really are who we promote ourselves to be. We’re from here, we live here (and have for a long time), we enjoy doing the same things our customers and clients do, so when we use the phrase “with you wherever you go” we mean it. We are one of the few teams that is really operating full time between here, New York City, Palm Beach, Miami, and now Nantucket. So there’s real meaning behind our marketing and the ability to serve our clients in multiple markets is real and unparalleled.
Eugenia Valliades: Our team has the resources that others may not have access to, and we are very well connected, which enables us to connect sellers and buyers that meet both their needs and achieve their goals. Our commitment that we have to our clients — interpersonally and professionally is unmatched!
The team serves several regions and is a large team of many accomplished agents. What areas do you service and are there other areas in which you’re involved?
AH: Correct, as I mentioned, we are positioned to truly service our clients in multiple markets. I am full time in the Hamptons, so this is my home base, as well as Eugenia. Michael has a home here for 20+ years as well and spends quite a bit of time here throughout the year. Michael also spends a fair amount of time in New York City and the team’s co-founder Alexander Bordiskin is in the city full-time managing over a dozen agents. Michael and I both own a home in Palm Beach where he has been selling for years and I would expect to see a significant increase of activity from both of us this winter there. And lastly Nantucket, our newest location, Michael has a lot of history there and is still a local business owner and it is one of my most favorite places, so you will no doubt see us grow our business there quickly as well.
The Michael Lorber Team has been a resource for real estate in the press for years now, your knowledge-base is impressive! Then there was the first season of Bravo’s “Million Dollar Listing New York.” What was that experience like and why did you agree to be a part of it?
Michael Lorber: This was over 10 years ago when reality television was pretty new to us, and especially for real estate. I really believed that it would act as an hour-long prime time infomercial for our company, brokers, and the properties. It was most certainly a once in a lifetime opportunity for me, and after one season I decided not to renew my contract and focus on my brokerage business off-camera. Every couple of seasons I do a cameo for fun, but I guess that is over now that the show has been put on pause.
Michael, what drew you to real estate in the first place?
ML: I always loved real estate and used to drag my dad to open houses on the weekends as a kid. There is something very special about seeing someone else’s home and seeing how you would live in it, perhaps sell it. I love working in a tangible business where I can see what I sell and try to avoid sitting behind a desk all day. It took me a long time to start my own team, but it has been an amazing success since I started and was even luckier by getting great partners like Alexander Boriskin and Adam Hofer.
The pandemic must have been such chaos for you and the team. Can you describe what you did to get through it as a collective and how have things changed because of it for the way you sell now?
AH: I think the two things that we were able to take away from the pandemic were how to really function as a team, and how to be incredibly flexible and creative. Creativity was key in navigating through those times and it was a great opportunity for agents to really learn how to be efficient and overcome obstacles to better serve buyers and sellers.
Eugenia, why did you choose Douglas Elliman as your brokerage?
EV: They have nine luxury markets, 111 offices across the country and are continually growing, especially in the luxury expansion market. Being a part of Douglas Elliman and the brand itself elevates my presence in this field. It also has an amazing support system in areas such as compliance, public relations, marketing, etc. Most importantly, I chose Douglas Elliman because of its work environment where I know I will be able to grow and thrive, do my best work, and be my best self! One thing all thriving workplaces have in common is an inspirational leader. Our chairman, Howard Lorber, an influential entrepreneur inspires passion and innovation within the company and leads by example.
With all the recent talk about rising interest rates, recession, and the like, how do you think the near future will play out for East End real estate? Do these conversations affect a luxury region like the Hamptons?
EV: The rates increasing also motivates people to jump into the market before they are priced out! If these interest rates continue to go higher and it looks like they will, then prices will soften because of the affordability factor — it becomes too high for the buyers and they retreat. We don’t see the rising interest rates affecting the Hamptons market as much as you may see in other markets.
What advice would you give sellers right now?
AH: You haven’t missed the boat! The buyer pool is still very robust and inventory continues to be tight. An appropriately priced home will still sell in record time.
What about buyers?
AH: It’s gotten easier than it was, but the bottom line is if you see something you like, buy it! And be prepared, because there is still competition.
Is there a favorite property that you sold?
AH: 2 Glover Street in Sag Harbor for a number of reasons.
ML: Yes… but the best ones make you sign NDAs.
What do you do for fun when you’re not working?
AH: Beach!
ML: Boating!
EV: I love exploring the Hamptons and New York City and keeping up to date with new experiences that both places have to offer such as new restaurants, hotel openings, and events. I consider myself an active person and enjoy walks in nature and the beach out East. I prioritize social relationships in my life and really enjoy spending time with family and friends.
To learn more about The Michael Lorber Team and to see their vast inventory of properties, visit themichaellorberteam.elliman.com.
