Pinoy realty broker Edwin Josue among Outstanding 50 Asian Americans in Business
Edwin Josue.
Fueled by his enthusiasm for luxury real estate in New York City, Edwin Josue cultivated a notable reputation in America. His niche lies in million-dollar apartments as a dependable adviser to high-net-worth clients, 70 percent of which are Filipinos (domestic and overseas), seeking prime investments.
Josue’s success can be explained by his experience of the market, extensive knowledge of the city, charismatic negotiation skills, and a sincere and personalized style adapted to the individual’s needs. His talent in developing solid and trustworthy relationships has positioned him as one of the top among some 30,000 real estate brokers in New York.
Josue’s marketing savvy, combined with diligence and an uncompromising work ethic, led him to achieve recognition in this year’s Outstanding 50 Asian Americans in Business.
Organized by the Asian American Business Development Center, it acknowledges extraordinary Asian American entrepreneurs, executives and professionals in various fields. In a listing dominated by Indians and Chinese, Josue is one of the two Filipinos who merited this distinction. He estimates that he has sold nearly nine-figures worth of real estate in New York in his three-decade career.
The other Filipino on the list is Edwin Flores, senior business manager and risk and governance officer for asset management company, DWS Group.
Josue is the only Filipino at the prestigious Brown Harris Stevens (BHS), a specialist in the luxury market which starts at $2 to 3 million for a 150 sqm apartment.
FROM BANKER TO BROKER
Josue has come a long way from a banking career at United Coconut Planters Bank and Citibank in the Philippines until he migrated to the United States in 1986.
In New York, he worked for a trading company and a Filipino boutique real estate firm. When he acquired an associate broker’s license in 1992, Josue could either put up his own company or work for a bigtime company.
As a residential specialist with City Living/American Landmark, he handled six prewar buildings which had apartments with high ceilings, wood fireplaces and sunken living rooms. He then moved to French firm Jean Marc Levet & Partners which was later bought by Brown Harris and Stevens. The owner, William Lie Zeckendorf, hand picked Josue to join BHS.
Josue’s bio in the BHS website shows testimonials from clients lauding his strengths—people skills, attention to details and going the extra mile.
“I listen carefully to know my clients. Then I research and show them apartments. What separates me from the rest is that I don’t drop them off after presenting the property. I tour them around the neighborhood and cite the expensive and affordable restaurants. When you are an investor, you need to know what kind of community you will be living in,” he says.
BE PLEASANT
Josue describes the market as “soft,” characterized by the seven percent interest rate in mortgage and cash payments. He notes that rentals are very active now. When some apartments can’t be sold, these properties are then put up for rent. An average rental for a studio in a luxury property starts at $3,000 a month.
Though he represents affluent individuals and assists them in the acquisition and sale of expensive apartments, he is likewise tasked to find mid-range units for their children who are going to college in New York.
The secret of his success lies in his smile. “Be pleasant and transparent. You disclose all the numbers including commissions. As a broker, you need to bridge the minds of the buyer and seller. Once that’s done, you get the contract and do all the nitty-gritty. In New York, you need a lawyer for everything. The broker will get that lawyer and connect you with the property management. When clients buy properties, I guide them thoroughly so that we could present a good package to the board.”
Before the millennium, he recommended one-bedroom luxury apartments that fetched $350,000. Today they are worth seven figures. “Their property value went up. The rental market also jacked up. These clients are grateful to me,” he said.
Josue’s personal touch has made him become like family to them. When a client was stuck in the Philippines, the client needed someone to receive the furniture for his new apartment in this posh neighborhood. Josue coordinated with the doorman and made sure that the orders were secured at the apartment.
Another Filipino client bought three apartments when the top floor of the building caught fire. Josue rushed to inspect that the units were not affected by the fire.
“As a Filipino, you show empathy. Other brokers will charge for their time. These clients will give some token,” he says.
“A real estate broker’s job is 24/7. I work late at night since the Filipino clients are in morning time zone. Weekends are busy as well.”
SUPPORTING TALENT
In his resume, Josue highlights his advocacies more than his real estate accomplishments. He and his longtime partner, floral designer and events stylist Jerry Sibal founded the non-profit organization, Friends of the Philippine Society USA Inc., which espouses diversity, equality and inclusion.
Active in the arts, he and Sibal produced several runs of the “Noli Me Tangere” opera which were shown in the United States and the Philippines. They organized the Philippine Tourism Expo at the Grand Central Station in 2018. He has helped in activities organized by Asia Society and Pinto International and is an advisory member of Ma-Yi Theater Company.
“I believe in the Filipino talent,” he says. “Helping is also my way of giving back.”
