Margaret Juvelier "You are a Mirror: What you do, should reflect back"

Draped in a Hermes scarf, perfectly coiffed and ready to broker the next multi-million dollar deal, Margaret Pena-Juvelier was one of New York's premier luxury brokers for over 25 years with Sotheby's International Realty. She left all that behind in 2012 to take a leap and purchase the franchise for Puerto Rico from the brand. In that time this tireless real estate veteran took her New York

sophistication to her ancestral land and exposed the luxury market in

this island nation to a global audience. Along with her daughter, Oriana and son in law, Brock, they have mastered a rebranding by naming neighborhoods such as CoBe (Condado Beach area) and the Miramar Arts District to mimic the stellar success it has had for neighborhoods such as Tribeca (Triangle below Canal Street); SoHo (South of Houston Street) and Nolita (North of Little Italy) in New York City.

Puerto Rico has had a global spotlight because of its economic tax

advantages in Act 60 (originally Act 20) and Act 22, which has

attracted such investors as John Paulson who has invested over a

billion dollars on the island with purchasing oceanfront hotels and

condominium buildings. I remember when Margaret first went to the

island, she invited me to take part in an economic forum which

included Mr. Paulso, the Governor, and myself. It was a humbling

experience to be on the dais with such impressive individuals. I have

always been very bullish on the market which has developed so

beautifully.

Like so many of the other sage guests that I've had on this podcast,

Margaret says one of the greatest lessons she has learned was to

listen. Listen to your clients, to others around you and your

colleagues. That is the only way to truly develop and become of

greater service to all around you.

Her three pieces of advice for someone entering the business truly

resonated with me:

1) STUDY THE MARKET -- Go to every open house, know the available inventory,

learn the value of the properties. Study so that you can provide insight to a client.

2) WORK HARD -- This may seem obvious, but it is whatever separates

those that succeed ultimately and build a career to those that simply

are looking for a "get rich quick" solution based on misinformation

from reality television programs.

3) DON'T GIVE UP! -- There are a lot of challenges we will face in a

real estate career, but if you believe in yourself and persevere, this

is one of the few careers that can provide you with great longevity!

Finally, the legacy which Margaret wanted to leave behind was to know

that she touched someone's life and as I told her she ha s been a great

confidant to me for many years and I consider her a very close friend,

so in many ways, she has already achieved her legacy in touching my

life.

Thank you, Margaret, for a great conversation.