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
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
Thank you, Margaret, for a great conversation.