Nicole is a Costa Rican native that has been living in New York for eight years. What was supposed to be a 6-month experience became her new home. She worked at a prestigious law firm in New York and a not-for-profit before venturing into the real estate world.
As real estate investors, she and her husband saw an opportunity in the market to create a modernized and up-to-date service. Nestapple was born in 2017 with the idea to restructure the way real estate transactions have been held for decades in New York. For any commission she receives as a broker, she gives back 2/3 of it to her clients.
Mother to 2 small kids, her clients always manage to respond within minutes of reaching out to Nicole. She is dynamic, efficient, and professional.
What is NESTAPPLE all about?
Nestapple is a full brokerage agency that offers cashback to its clients.
In the internet era, where transactions are public, and transparency is the norm, the old school business model is no longer viable.
Clients are savvy and knowledgeable, and brokers can offer an efficient and added-value-service for a fraction of the price. We are not offering a cheaper service for a reduced price. Quite the opposite: our client satisfaction is absolute. Nestapple reassures itself in providing advice, market know-how, comps analysis, and strategy planning.
Tell us a little bit about your background and how you started your company?
I am a lawyer by background, a mother, wife, proud Costa Rican, and a wanna-be New Yorker! I came to NYC supposedly for six months only, and I’m now a fulfilled entrepreneur/business owner.
Four years ago, my husband and I saw a niche in the market. The traditional way of doing real estate transactions was antiquated. Brokers now do business online, and clients have access to most of the information. The efficiency of the market allows for information to be available to all the parties involved. With this, we can offer an outstanding service, know-how, and support while providing clients cashback.
I have been a tenant, a buyer, a seller, and eventually a landlord. Having personal experience on every possible side of the process gave me a unique perspective to understand everyone’s views.
We started offering the service only to buyers: represent buyers in their transactions, and for any commission, I receive as their broker, give 2/3 back to them. It was a no-brainer. Anyone who was pitched the idea became on board and was retained as a client.
Eventually, we came up with the idea of taking listings – meaning working for the seller for a fraction of the fees.
By having both buyer and seller clients, we are uniquely positioned to understand the market’s needs, rhythm and can adapt to it quickly.
What would you say are the top 3 skills needed to be a successful entrepreneur, and why?
Efficiency, professionalism, and availability.
Efficiency: as a business owner, you are in charge of all aspects of the company. It is crucial to manage time properly and know how to prioritize—being efficient means learning how to communicate appropriately. It also includes listening attentively and comprehending the client’s needs. In Real Estate transactions, time is always of the essence. Acting fast but thoughtfully is essential.
Professionalism: honesty, integrity, and transparency are mandatory. It is challenging to achieve a deal. There are a lot of parties involved, a lot of emotions, and superseding interests. Success means both sides leave the closing table satisfied and content.
Availability: when providing a service, making yourself available, reachable, and having adequate response mechanisms in place is indispensable.
How do you separate yourself from your competitors?
I have tremendous respect for my colleagues. Being a real estate broker in NYC is not for the faint of heart!
Buying a home is not only an economic decision but an emotional one. I try to support my clients and establish a connection to assist them throughout the entire process. I am a very empathetic person by nature, and it has been an asset to be able to relate to people in very different circumstances.
Another important differentiated factor is that we don’t require our clients to sign any exclusivity agreements. It is somewhat standard to engage with specific agents for a minimum amount of time while searching for a home. We tell our clients: “if you are not 100% satisfied with our services, feel free to retain another broker.” As a result, we have never experienced a client dropping us.
What were the top two mistakes you made starting your business, and what did you learn from them?
Hiring unqualified personnel: this has been a learning curve. It is easy to assess a person’s qualifications on paper but very hard to properly evaluate them. It has been frustrating to devote time and energy to supporting staff to conclude they were not a good fit eventually. Unfortunately, this is a combination of luck + finding good talent.
Retaining services without thoroughly vetting them: we made a mistake in the early months to hire third-party companies to provide various services. For example, we once committed to a six-month contract for SEO purposes to eventually receive information we already knew. It is crucial to understand what you’re paying for to be able to express your needs and expectations correctly.
What helps you stay driven and motivated to keep going in your business?
The personal satisfaction of building something from the ground up is priceless. Our company is a family business. I started it when my daughter was born, and it has been through the commitment of both my husband and me that we’ve created a lucrative business model. Clients become friends.
Even though I have been working since I was 17 yrs old, I had never worked for myself.
What is your favorite quote?
So many to choose from! I believe in asking for help, getting advice, and always having a robust support system. This quote sums it up nicely:
“Find the smartest people you can and surround yourself with them.”
— Marissa Meyer, CEO, Yahoo!
What valuable advice would you give new entrepreneurs starting out?
Becoming an entrepreneur is not a decision to be made lightly. The risks, instability, and unknowns are always present. For anyone brave enough to endure this adventure, I would advise them to discuss and share their business plan with trustworthy advisers.
Advisers need to be professionals who have succussed and failed at their endeavors. People who understand the hardships of owning a business. This means consulting with people who will not tell you what you want to hear. No one will guarantee results, but fresh eyes can point out potential challenges you have not accounted for.
Who should we interview next and why?
Milena Kohlhofer. To make the most of her creativity during the pandemic, she started making candles for herself and soon converted that into a business. She is successfully utilizing the power of the internet to sell worldwide. Her creations are unique and she is looking to expand into everything home.
If you started your business again, what things would you do differently?
It is easy to look back and change things once you’ve experienced them. Even though it’s been a successful journey, there have been several bumps on the road. Failing is the best way to learn.
The main thing I would do differently would be to invest in a unique website from day one. As a new entrepreneur, it was hard for me to understand the profitability of investing. Having now an adequate grasp of my business’s technological and back-office aspects, I would invest in technology from the early days of our launch.
What’s a productivity tip you swear by?
Do the most challenging thing first.
My days are very unpredictable. However, there is always a long to-do list. For me, a valuable tool is always to the longest, most demanding, and most time-consuming tasks as early in the day as possible.
How can readers get in touch with you?
One of my favorite parts of being a business owner is talking to people. Our clients come in all shapes and sizes: first-time buyers, investors, expats, and locals. Some are experienced and real estate conscious Everyone can learn about real estate and educate themselves on saving money and enjoying becoming homeowners.
When considering selling, it’s essential to understand. Please reach out via email to nicole@nestapple.com.
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