SHEEL SOHAL
Ssrghomes.com
In Sheel Sohal’s five years of working as a licensed real estate agent in Oakland and Wayne counties, he has sold more than $150 million. Living and working in Birmingham, the owner of Sheel Sohal Realty Group says he is “passionate about delivering the best customer-client experience when people are dealing with their most important investment.”
Birmingham City Lifestyle Who are your clients?
Sheel Sohal I have a huge mix of clients, from first-time homebuyers to investor clients who want to understand how to make passive income in real estate to individuals, families, athletes and professionals who desire multi-million dollar homes in Oakland County. I have very active and informative pages on social media, including Instagram, Facebook and a YouTube channel with videos on different topics — much of my growth has developed organically through the use of social media. I capitalize on it by presenting homes that sometimes are not recognized as being available.
BCL What are you seeing as market trends right now and projected for 2023?
SS With rate fluctuation, we should see some consistency in 2023. In many market predictions, Michigan as a local market has always been an amazing place to live and enjoy. I believe we will continue to see record sales, more inventory to come, and high buyer demand. Waterfront homes will remain desirable, more turn-key properties will become available and many investors will want to capitalize on rental opportunities.
BCL What do you tell clients who are readying their homes to sell?
SS When you're preparing to sell, it is essential to focus on planning versus execution. Do we need to declutter, stage or even enhance your home with elements like fresh paint, light renovations and making sure your curb appeal is ideal? Sellers also often forget to make sure that their attic is in great shape: You don’t want there to be any surprises, like mold, insufficient insulation or any gaps or holes created by animals. Be certain to tune up all your equipment and mechanics for your home.
BCL What is unique about the Birmingham/Bloomfield markets?
SS The Birmingham and Bloomfield areas offer it all. It has every style of home, from traditional to contemporary. Bloomfield offers waterfront properties, homes with all varieties of square footage and backyard sizes. Buyers are still on the lookout for expanding their square footage, and obtaining more of their desires in their homes, such as an attached garage, finished basement, larger kitchens and backyards that fit their desires, and this area offers it all. Also, both cities are central locations to many different downtowns and offer easy commutes to Downtown Detroit.
BCL What do you love about your job?
SS I love being able to make a client happy when they are purchasing their largest investment. Being able to guide a client in the right direction and helping them find the right home is a great feeling.
LISA LIPARI
Wearedobi.com
Birmingham-based Lisa Lipari, a realtor and associate broker with Dobi Real Estate, also in Birmingham, launched her career seven years ago at another firm before following then-colleague Simon Thomas, founder and CEO of Dobi (dobi.com), to his new firm. “I’ve had an interest in real estate since I was a little girl when my dad and I would go to open houses just to look at homes,” Lipari says. Earning a marketing degree and MBA from Michigan State University, she took a short detour in health insurance before taking the plunge into her first love. “I’ve always wanted to work for myself, and I knew with my drive and work ethic, I would be successful,” she says.
Birmingham City Lifestyle Who are your clients?
Lisa Lipari I'm very fortunate to have a business that is 95-percent referral based so I work with clients of all ages. I work with a lot of families because as a mom of two young children, that is who I associate with most at this point in my life, but a lot of my clients refer their parents to me and I also work with first-time homebuyers. I love working with all different clients because it makes my job more exciting, and first-time home buyers are also so appreciative of knowledgeable realtors — buying your first home can be scary but also a huge accomplishment.
BCL What questions do you get asked most often?
LL The single question that I have been asked most from clients in the past four or so years is ‘are there going to be more houses coming on the market?’ Inventory has been historically low the last few years so while we usually see the most new inventory hit the market in the spring and can expect that to be the highest inventory, it still has not been enough to meet buyer demands. Buyers right now are also concerned about rising interest rates — and when we can expect rates to come down. No one can be certain, but I've heard from different lenders and financial experts that we expect them to lower near the end of 2023 or potentially in 2024. Sellers are also concerned about rising interest rates because homes are not worth as much as they were four to 10 months ago, and we are seeing a lot of price decreases. Sellers have been spoiled by the market the last few years and are used to houses selling in the first week, but now we are moving toward a more balanced market where it's taking 30 days or more to sell a home and sellers have to negotiate.
BCL What tips do you give clients for readying their homes to sell?
LL 1. Make sure your home is show-ready before you list, and declutter, declutter, declutter. Buyers want to walk through the home and feel like no one is living there so they can imagine themselves in it. Make sure the house is spotless and anything too specific to your lifestyle or beliefs is put away for showings. 2. If you are willing and financially able to do updates to your home, do it — but be smart with your money, and consult with your realtor on the best place to spend. For example, updating the kitchen and master or master bathroom will likely yield a bigger return than updating kids’ bedrooms or a basement. Most buyers today want a home that is updated and move-in ready, and they are willing to pay a premium for an updated home rather than deal with construction after purchase. 3. Do not overprice your home — it is the number one way to kill the listing. The most activity on a new listing happens within the first two to three weeks, so it's crucial to market to your true audience — by overpricing you are not getting the correct buyers to see your home. If you overprice then do a price drop soon after listing, buyers assume that something is wrong with your home.
BCL What is unique about the Birmingham/Bloomfield markets?
LL The homes range from all different sizes and prices and no two homes are the same, so each selling/buyer experience is different. I love that there are so many neighborhoods within the cities and as a realtor working in these areas, I have to be very knowledgeable about the different neighborhoods. There is always a demand and even in a down market, houses in Birmingham and Bloomfield sell quickly and still hold their value.
BCL What do you love about your job?
LL I love that my job is different every day. I wake up with a plan for the day and it can change in a split second, but that's what makes it exciting. I also really love helping people find a home that they truly love. I don’t want my buyers to ever feel that I’m pushing a sale just for the commission. I've shown some buyers 80-plus houses to make sure it's the right one, and it makes me so happy to find their home.
LISA NEDERLANDER
Lisanederlander.com
A native Michigander who studied and worked in New York City before returning home in 2009, Lisa Nederlander sold real estate in Manhattan for 12 years with the Corcoran Group, led by Barbara Corcoran. Now based in Bloomfield Village, she is an associate real estate broker with Max Broock Realtors in Birmingham, while still holding her associate broker’s license in New York as well.
Birmingham City Lifestyle What brought you to real estate?
Lisa Nederlander I was a history major and French minor in college and I like beautiful things and old things with a history. So I then trained in London at Sotheby’s Institute in Fine and Decorative Arts to become an antiques dealer. I moved to New York City in 1999 to work in the European Furniture Department at Sotheby’s auction house and soon found that I was stuck behind a desk, making too little income on which to live. Friends suggested I become an agent because they knew I liked interiors and wanted to be mobile, plus I have an interest in the business. I finally got my license, and quickly had a successful business — I loved running all over the city learning about different buildings and neighborhoods. I found it very rewarding to actually be able to support my clients by facilitating and navigating the transaction. Since I moved back to Metro Detroit, I enjoy it for all of the same reasons, but with the bonus of doing it in my hometown.
BCL Who are your clients?
LN My clients run the gamut of the local population, including old friends who I grew up with, fellow members of Knollwood Country Club, friends in the art world, and fellow board members at the DIA, as well as parents from my daughter’s school and attorneys who refer their clients to me. Some clients are downsizing, some are upsizing, and some are transferring to the area. I have worked with local politicians as well as many doctors in the area. I am very social so I am lucky to have many friends of all ages and areas, from Birmingham, Bloomfield, Franklin, Grosse Pointe and Detroit to Clarkston, Brighton and Up North. I make sure I get to know every area I am asked to help in and am happy to learn from agents in other areas where I may be asked to work.
The idea is to take care of the client. Likewise, I still have a healthy referral business all over the country. I regularly refer clients to the New York area, but also to California, Georgia, Florida and more. I want to make sure they are in the right hands when looking elsewhere.
BCL Why do clients choose you?
LN People trust me. I believe integrity and good service are what build a business, above anything else. My fiduciary to my clients is absolutely my No. 1 priority. My clients know that my track record is impeccable and that I will always have their best interest at heart over mine. With this approach, I am able to get them the best deal possible. I have a huge network of contacts in the business to draw from to get deals done — clients, workmen, stagers, accountants, attorneys. I do a lot of marketing in front of and behind the scenes.
BCL What are you seeing as market trends for 2023?
LN Fall has been very busy for me, especially with my listings as there continues to be low inventory. Even though the headlines have sounded like gloom and doom, people should understand that each market is different. Our local market is thriving and, while the interest rates have risen to more normal levels, there are many active qualified buyers in our marketplace. We believe that this will continue over the next year and prices will at the very least remain stable.
BCL What are the Top 3 biggest concerns of potential clients?
LN 1. Interest rates. People have been very concerned about the bottom falling out of the housing market again because of the recent increases. Some buyers believe that they will be able to scoop something up at a much-reduced price; however, we are not in a housing crisis. People still have money and jobs so continue to buy houses. The stats the media is quoting is mostly based on the frenzied environment we had when the interest rates were very low during Covid so everything ‘sounds’ like it could be going down, but we are actually in a very healthy market with relatively low rates. 2. Market falling. The intensity of worry was much higher in the third quarter of 2022 as the headlines went from covering bidding wars to rising interest rates. The market has returned to a healthier pre-Covid environment. 3. Cost of home renovations and maintenance. Buyers, sellers and homeowners are feeling the pinch in restaurants, the grocery store, cost of materials and so on. Many who hoped to do renovations saw their projected costs triple, in some cases. Many are going ahead while some have decided to remain in a holding pattern.
BCL What tips would you give clients for readying their homes to sell?
LN Sellers and buyers alike should understand how real-estate taxes work in Michigan, specifically that a) we have particularly high real-estate taxes and b) the number you see on a listing is not what you will be paying once the house sells. Taxes are uncapped when the property trades and go up in the new year and can increase tremendously. It is only then that the homeowner gets the benefit as they re-cap to how much they can go up every year while owning the house.
Consider how you present your house to buyers — you want to make it show-ready. Even if you are living in your house while trying to sell it, homes that are messy, dirty and not maintained makes buyers think the sellers don’t take care of it. Make small repairs to peeling paint and loose door handles, clear kitchen and bathroom countertops and wipe light switches, to start.
Don’t overprice your home. Buying someone else’s house can be a daunting process and buyers don’t always see your home the way you do. I am still seeing tons of interest in homes, but only when it is the best house in the price range, not the other way around. Have your agent take you to see your competition so you are educated. Similarly, don’t choose an agent based on the price they give you at the pitch. Your house will sell for what the market can bear. You want to make sure the agent is making you feel like you are their top priority, and not handing you off to team members once you agree to work with them. Hiring an agent who educates and supports you rather than telling you what you want to hear will help you achieve your goals.
BCL What is unique about the Birmingham/Bloomfield markets?
LN These markets retain their home values more than anywhere else in the area. One factor for this is the reputation of the school district in which a house falls — and the Birmingham and Bloomfield Hills districts are very attractive to buyers. Another factor is its proximity to Downtown Birmingham. People love the walkability, the shopping, and the charm of the sidewalks and neighborhoods, and more people want to be a part of that than there are homes to buy.
BCL What do you love about your job?
LN I love that I can help people with their biggest purchase. Since this is not something people do regularly, I can help make sure they know what to expect, and what needs to be done and make it fun along the way. I love that I get to work with different people all of the time, which keeps it exciting. Every deal has different nuances and personalities. And I like that I get to compete against myself rather than expect the same check every week — it’s very motivating and I like to challenge myself. You have to work hard and be on your toes if you want to be one of the best in the business.