A Day With …Barry Novick & Nancy Cervelli
While Barry began his real estate career in 1991 after relocating to the North Fork from Manhattan, Nancy joined the real estate community in 2001. Barry has listed and sold numerous vineyard/winery properties on the East End and is known to be an expert in this niche. Prior to joining our North Fork community, Nancy and her late husband ran a successful B & B in coastal Maine, which solidified her love of working with and serving the community. Barry Novick and Nancy Cervelli of Daniel Gale Sotheby’s International Realty both continue to grow their client base, which is considered one of their most outstanding achievements.
NFRES: Why do people buy what they buy?
Nancy and Barry: Some buyers are driven by their perception of value—real or imagined. Real value pertains to quality of construction, fair price, location, etc. Imagined value is more of a form versus substance issue, so superficial finishes, updates, innovative, edgy design features are added for their own sake, but not intrinsic to design or construction.
And then there are “it must be a steal” buyers. “If I buy it, will I make a profit,” not realizing the many variables involved. Next are pragmatic buyers that are looking at the numbers and fair value. Either the property meets certain requirements or it doesn’t. Not a lot of emotion here. But emotional buyers let the property pull on their heartstrings. It is like the home they grew up in or, in Barry and Nancy’s experience… “it just feels like home.”?
And last but not least, nothing makes a home more desirable than other people wanting it. We have seen some crazy numbers thrown at sellers as a result. And then sometimes all of the buyers collide in a frenzy of activity with several offers presented as soon as it is listed.
NFRES: Are there words of advice you would offer prospective purchasers, regardless of the buyer category they fall into?
Nancy and Barry: Real estate is an industry segment about which everyone feels they are an expert! With the prevalence of real estate, remodeling, home design shows might be giving some prospective buyers a false sense of industry expertise. Buyers go from open house to open house, and/or research homes online and select houses they see from websites. This is not a commercial for realtors, but rather an observation about purchases we see. Sometimes these buyers are missing out on real values and potential savings that can be afforded by working with a professional broker. A local broker often has real knowledge that can add value to the home purchasing process—much more than just opening up the door for a viewing.
NFRES: You’re like Chip and Joanna Gaines!!
Nancy and Barry: Who??