Bootstrapping a career is no easy feat particularly as an immigrant to the United States in one of the most sought-after, price-point prohibiting landscapes in the nation. Building upon the angst-filled teenage years, Niko Cejic turned to a roadtrip and some construction under his belt and founded the way to turn his post-college football career into becoming a sought-after agent on the East End.
Nikola Cejic of Douglas Elliman
You have such an interesting journey to becoming a successful real estate agent. Born in Serbia, at what age were you when you moved to the United States?
My parents brought my sister and I to the United States when I was 14 years old. After that, I was spending summers in Serbia and most of the year in Binghamton, NY. It was a huge culture shock. Then at 22 years old, I packed up my car and moved to the Hamptons, without even knowing where I was heading to!
Wow, that’s daring. You bought your first property while in high school, an amazing feat in itself. What prompted a high school kid to buy real estate?
I watched my mom pay the mortgage every month and it was more than half of her monthly income. The thing that truly opened my eyes was that she was going to have to do that for 30 years! We were immigrants and had never had to pay for housing in the old country because we lived in the same home as my great grandparents once did. I saw that you can buy a house at auction for very little money and renovations would also be affordable. I realized this would be a workaround to making monthly payments for the rest of your life. It sounds simple and it really is that simple!
When people say that we have an inventory shortage, I disagree. We have an affordable inventory problem.
You also helped build your family home while in college? How deep does construction play a part in your life and business?
My family and I were just farmers in Serbia, but I always aspired to build and do construction. So I decided, why not learn on my own? After renovating my family home, I started understanding what it took. Now, I know it inside out, not just on the surface. I always envision for my clients where they can add value and how certain updates can be done structurally. Also, I know which homes would be good value based on what can be done to them to maximize the potential and produce the best return on investment.
Do you think that buying real estate as a kid and working in construction has helped you as a luxury real estate agent?
It has allowed me to stand out amongst my peers at a younger age because my clients who are buying luxury homes do not always have time to focus on where they can add value. They trust my opinion and experience. When you are just starting out and have more qualified agents competing with you, a young creative mind goes a long way! The one advantage that I got from working in construction was understanding the importance of detail and having character.
What did you study in college?
I graduated from SUNY Morrisville with a Bachelor’s in Business. Since I technically graduated as a junior, I spent the last semester finishing my football season and taking the construction classes that they offered.
With all the brokerages available to you, why did you choose Douglas Elliman as yours? What do they offer that resonated with you?
With so many brokerages in the real estate industry, it was important to pick the right one that fits my brand. Elliman offers great technology along with a reputable brand that has been through all types of markets. The well-structured and high-end brokerage is what helped me excel and stand out amongst other competitors when going after listings. Another reason I was pulled to Elliman was having a larger network across the luxury U.S. market.
With interest rates having doubled in recent months, do you think it will or has it affected the East End?
The problem has become where we have too many listings above $3M-$5M and not enough affordable listings under $1M or even $2M anymore. We have too many buyers under $3M, but not enough above the $5M+ price point. When people say that we have an inventory shortage, I disagree. We have an affordable inventory problem.
Are there any neighborhoods to look out for?
In my opinion, you want to pick a neighborhood closer to the city and not too far from the ocean, where you can have the best of both worlds. With work schedules now requiring people to work on-site for a few days out of the week, buyers are starting to look at houses that are closer to the city. East of the canal, yet not too far east, has become an attraction; and the prices show that. No one likes traffic, especially the Hamptons traffic.
What is your advice for sellers right now?
As a seller’s agent I would say “underprice the house and see what happens.” In a small niche market like the Hamptons, it is almost impossible to underprice a home if it is marketed the right way!
What about buyers?
If you see a home in a good location, take it right away. You can change the structure, but not the location. The land value is not ever going down anytime soon, and when you think your only competitor is another buyer, you may be mistaken. The Town of Southampton and Town of East Hampton are acquiring properties as well.
What do you do in your downtime for fun? Is there downtime?
In real estate you never really have downtime. There is always something to do, but it is important to enjoy the beautiful natural landscape we have on the East End. I personally love surfing, swimming, and any outdoor activities. Also making people laugh with my silly real estate videos.
Click here to learn more about Nikola Cejic.
