Next month, Marcia will be in Albany, NY to attend Dawn’s installation as President of the New York State Association of Realtors (NYSAR). It was Dawn Carpenter who recommended Marcia join a NYSAR committee, and well, the rest is history.
Marcia Clarke holds memberships in the National Association of Realtors, the Women’s Council of Realtors, A. R. E. A. A., the National Association of Real Estate Brokers, and ProjectReap.org. She is a member of the Brooklyn, Long Island, and Staten Island Multiple Listing Services, and a New York State Notary Public.
After the ceremony, I spoke with Marcia Clarke, and gained important insight into who she is and how she came to assume the Presidency of the Brooklyn Board of Realtors.
Eustace Greaves Jr. / BrooklynCovered.com: Marcia, I want to add my heartiest congratulations to those of your friends and associates for the honor they’ve bestowed upon you. I wish you and the Brooklyn Board of Realtors great success in what is shaping up as an interesting year.
Marcia Clarke: ” Thank you.”
Eustace Greaves Jr / BrooklynCovered.com: Marcia, tell me about where you were born, and your educational background.
Marcia Clarke: “Well, I was born in England, and attended public school at Mosely Park Secondary School and went on to Stafford College of Further Education. It was in 1983 our family decided to emigrate to the United States.
How Marcia Clarke Discovered Her Passion For Real Estate
Eustace Greaves Jr. / BrooklynCovered.com: Marcia, when you first emigrated to Brooklyn, New York, did you already have a burning passion for real estate?
Marcia Clarke: “Not exactly. In my early years I believed a career in food and shelter would enable me to cover a lot of bases (big thanks to Abraham Maslow and his Hierarchy of Needs).
“So I attended college for the sole purpose of completing a four (4) year program in Hotel and Catering Management. My end game was to eventually become a dietitian who would consult in retirement … I had it all figured out. And then I emigrated to Brooklyn, New York, saw a ‘Help Wanted’ sign on Church Avenue in a real estate office window and the rest is history.
” As I began working in the office, I marveled as people who didn’t think they could realize the dream of home ownership actually achieved their goal. So what started out as a job to pay the bills, became a burning passion.
“So, I decided to attend real estate licensing classes at Brooklyn’s Medgar Evers College, where I received my real estate agents’ license in 1984.”
Eustace Greaves Jr / BrooklynCovered.com: So Marcia, how long did it take you to become a Licensed Real Estate Broker?
Marcia Clarke: “I met all of my requirements to become a Real Estate Broker in 1989.”
ELGJR / BrooklynCovered.com: When did you open your first office?
Marcia Clarke: “I opened my first real estate agency, M & C Realty, on Lincoln Place in Brooklyn, NY, in 1990, sharing space in my uncle’s real estate office. In 1992, I left to join forces on Avenue D with my old friend and broker Stewart Jacoby, a relationship which lasted until his retirement in 2011. So, with the other agents in tow, I opened M C Realty Consulting & Management Inc., eventually moving to 1431 Nostrand Avenue a few years later. In 2014, I opened my second office, BRESRE Realty, Inc., in the Coney Island section of Brooklyn.”
ELGJR / BrooklynCovered.com: Isn’t it kind of tough to run two offices?”
Marcia Clarke: “Normally, yes, however I am fortunate that Ms. Annette Fisher, the 2016 President of the Women’s Council of Realtors-Brooklyn, manages the new office.
ELGJR / BrooklynCovered.com: Marcia, what do you consider the most important attributes of a top-flight real estate professional?
Marcia Clarke: “While there are many important attributes, three come to mind. First, taking time out for yourself, either scheduled or otherwise, and keeping healthy – in body and mind.
“Time management is extremely important, because you are always aware that people are relying on you. Who are these people? Everyone. Your family, your broker, your agents, your clients, and your referrals.
“Last, networking and staying informed of new laws, developments, and marketing strategies are the mainstays of functioning like a professional. I consider it fundamental and it requires no batteries or internet. No matter how many years you’re licensed, you can always learn something new or discover how to do something you already know better.”
Obstacles To Purchasing A Home
ELGJR / BrooklynCovered.com: What do you think are two of the biggest obstacles facing today’s prospective home buyers?
Marcia Clarke: “Deficient income from low paying jobs prevents many of my potential buyers from becoming homeowners unless they enlist the cooperation of family or friends.
“This problem is compounded by the lack of affordable homes in metropolitan New York, which forces tenants to pay more than 50% of their income on rent charged by new homeowners.”
ELGJR / BrooklynCovered.com: I thought you weren’t supposed to pay more than 30% of your income towards rent?
Marcia Clarke: “Now you see the problem.”
Marcia Clarke’s Vision of The Future
ELGJR / BrooklynCovered.com: Marcia, given just those two challenges, describe your vision of the real estate industry in the next ten (10) or 20 years.
Marcia Clarke: “Our profession as REALTORS will bend and flex with technology and a more educated consumer. What won’t change much more than when I started is our fundamental purpose of being the conduit to home ownership, owning, or renting. I won’t make the same assertion about mortgage financing, and much of what happens will depend on the new administration. Within hours of taking office what would have been a cost saving benefit to home buyers seeking a FHA mortgage, ( a reduction in the cost of mortgage insurance), was simply dropped. I’ll let you draw your own conclusions about why.
” I also fear FHA mortgages may end, or be subject to a budget-approved allocation for each fiscal year, possibly with only a certain amount of applications based on a lottery system. While this sounds dystopian, something will happen. Congress has tinkered with the FHA for years. In the future, the only applicants able to get access to any Federally backed loans may be limited to those who serve in the military. This benefit, with the condition of military service, would serve, (pun intended), as an attractive lure for many blue collar consumers who will be reaching for the American dream.
“Where will we be in 2027 – 2037? I believe human appraisers will be a rare breed as the banks will be using automated property valuation services. And banks will use data mining to assess mortgage applicants.”
A Final Question
ELGJR / BrooklynCovered.com: One last question Marcia. What do you consider your singular accomplishment in your real estate career?
Marcia Clarke: “I am most proud of my ability to assist clients as they move to the next stage in their lives. And it’s a wonderful feeling when, years later, I receive referrals from these clients to help their children with their first and later home purchases. It’s a wonderful feeling.”
ELGJR / BrooklynCovered.com: Again, Marcia Clarke, thank you for this time, and congratulations on this remarkable achievement. And much success to go with it.
Marcia Clarke: “You’re welcome, and thank you.”
Marcia Clarke, the 2017 President of the Brooklyn Board of Realtors, is the Broker / Owner of M C Realty Consulting & Management, Inc. You can reach Marcia Clarke at 718-484-8582, and her office is located at 1431 Nostrand Avenue, Brooklyn, NY 11226. You can also reach her by email at email@example.com.
Eustace L. Greaves, Jr., LUTCF , a.k.a. BrooklynCovered.com, is a New York State licensed Insurance Agent and Broker and Continuing Education Monitor. He is an income tax preparer and participates in the AFSP program. Call him at 718-783-2722, or email him at Eustace@insuremeeg.com to check your life, home, flood, disability, renters, coop, condo, and auto needs.