Iris Kalt: A Legend In Her Own Town

Real estate agent Iris Kalt is something of a legend in Scarsdale. She has been with Prudential Centennial Realty for almost 20 years where she has been recognized repeatedly as one of the top performing agents in Westchester County. In 2000, she was profiled in the New York Times as "The Dealmaker." What are the secrets behind Iris' success? We spoke to her this week and found that she was very willing to share her tricks of the trade with our audience.

Here is what she told us:

How did you get your start in the field?

I began in 1986 as a part-time agent after Molly Goldstein, a top agent and member of my country club Bonnie Briar, told me I would be a terrific agent. After I was laid off as a school psychologist for a year she took me under her wing and taught me the business. She showed me how to look up listings in the Multiple Listing Service book (there were no internet listings at the time), introduced me to local builders and taught me how to do a subdivision. She taught me everything I know and I learned from the best.

The following year, the Board of Education called me back to work and I tried to work in the schools during the day and pursue my real estate career at night and on weekends. I quickly realized that you can't be successful in real estate on a part-time basis. It is difficult to get a listing just by being enthusiastic. You must build your reputation and network to get referrals. It is not an easy business but if you are dedicated and willing to put in your time and effort it can be lucrative.

Tell us about some of your more interesting sales:

In 1988 I had some Chinese customers who wanted a house that was large enough to accommodate their extended family. I agreed to show Johnny Lu the former home of Frederick P. Rose at 72 Brewster Road, a large ranch on one and a half acres with a pool and tennis court. The whole Lu family showed up at the train station and 6 people crammed into my 450 SL Mercedes convertible. They ended up buying the house and moved in -- but let the tennis court go. When they were ready to sell, I got the listing and sold it in 2009 to a developer who subdivided the property into three lots. There are now three homes there.

I also had the listing for 268 Fox Meadow Road near Fenimore Road where I realized there could be another subdivision. However, the Village would not let the developer take the house down as it was a "sister house" next door. The case went to state court and eventually the home was cleared for demolition. There are now two houses on the site.

I call 15 Meadow Road in Quaker Ridge the house that keeps on giving. Molly Goldstein sold me the house which sits on almost an acre of land adjacent to the Quaker Ridge School. I lived there with my family for eighteen years and my children could walk through the yard to school. When we were ready to move we sold the house to one of my customers. When that customer wanted to move, I sold him a new house that was being built on Stratton Road (also her listing.) I then sold the Meadow Road house to the builder of the new house on Stratton Road. He tore it down, built a new house and I sold that as well.

What are some of the differences between the market in the 1980-'s and 90's and now?

It's harder and harder to find a subdivision. You can still find teardowns but they are pricier.

What is your advice to those who are going to list their house for sale?

People prefer move-in condition houses. Buyers only know what they see. Refinish the floors, repaint, de-clutter, re-seal the driveway and landscape with welcoming plants and shrubbery. The house should look good. The better the condition, the quicker it will sell.

Price it near fair market value. The less you ask the more you are going to get. If you price it too high, real estate agents won't see the value and they won't bring qualified buyers. The listing will become stale. The less you ask the more competing offers you will get and the higher the bids. I listed a home on Overlook Road in Fox Meadoow for $1,795,000 and it sold for $2,010,000. The asking price gets them in the door ... it's a great selling tool.

What's your view of the tax revaluation in Scarsdale?

Some houses are under valued and some are over valued. The revaluation is only going to make it as fair as it can possibly be.

If you could look into the future, what would you expect to see 25 years from now?

As long as the Scarsdale school system and amenities remain tops, and Scarsdale remains a child-centered community, real estate in Scarsdale will be desirable. However, there may be less and less open space!

Anything else would you like to add?

I feel fortunate to have helped many families settle in Scarsdale and helped other sell their homes for top dollar and move to wherever they wanted to move in the time they wanted to get there. Whether they are buying another property or have to more in time for the opening of school, I get people where they need to be.

Learn more about Iris Kalt at www.IrisKalt.com.