Tag: Barbara Corcoran

Real estate mogul Barbara Corcoran has been wheeling and dealing in the housing market for decades. She’s certainly seen her share of ups and downs.

That’s why, despite the volatility of the residential housing market, the “Shark Tank” star recently told her one million followers on Instagram that it’s still a good time to purchase a home.

Related: ‘All Hell Is Going to Break Loose’: Barbara Corcoran Issues Warning About Real Estate Market, Interest Rates

Here, Corcoran offers her three best tips for purchasing a home in the current market.

1. Take some of the pressure off yourself

Corcoran says that buyers shouldn’t put so much pressure on themselves. Yes, it’s a big purchase, maybe the biggest of your life, but this doesn’t have to be your “forever home,” she said.

Real estate purchasing doesn’t have to be one-and-done, she adds. You can always sell or refinance. Don’t “take it all so seriously.”

2. Reevaluate your budget (realistically)

“Your budget won’t go as far as it used to, but instead of looking at the added cost of a house, or the added cost of a mortgage, figure out what your mortgage payment is and ask yourself, ‘Can I afford that,’” she explained. “It kind of makes it in real day-to-day terms that you appreciate and might just go forward understanding that.”

Related: Look Inside Barbara Corcoran’s $1 Million Trailer in California

3. Shop for the best rate

Corcoran topped off her advice with something that can be used when making any major purchase — don’t settle for the first deal, and explore multiple options.

“Don’t forget to shop for the best possible rate. People don’t do this. People go to a mortgage company, of course, but start with your own bank,” she advised. “You might want to ask them, do they have any special discount for a good customer who’s been banking with them for a while? It’ll very often save you a full quarter percent. Doesn’t sound like a lot, but it adds up.”

Why now is a good time to buy

Earlier this month, Corcoran explained that even though residential prices and mortgage rates are high, buyers should consider making a purchase now and refinancing when the rates drop — because as soon as they do, prices will start rising again, and “all hell is going to break loose.”

“This is the very best time to buy a house because everybody’s scared,” she said.

Corcoran’s estimated net worth is $100 million.

While the housing market may seem rough thanks to interest rates hitting a 23-year-high, real estate mogul Barbara Corcoran thinks it might actually be the best time for prospective homeowners to make a purchase.

In an Instagram post on Monday to her one million followers, Corcoran said that while high rates and high prices push “more buyers on the sidelines” to “wait it out” she’s not exactly sure what everyone’s waiting for — because once interest rates go down, a home buying frenzy will begin, and prices will rise even more, she predicted.

“The days of the 2 or 3% interest rates are never going to come again. Forget about that, but they will come down,” Corcoran said. “The minute they drop and come down to anything with a five in front of it, the whole world is going to jump back into the market, there’s going to be no houses around and prices are going to go up by 10% or even 15% — so don’t get out of the market.”

“This is the very best time to buy a house because everybody’s scared,” she added.

Related: ‘All Hell Is Going to Break Loose’: Barbara Corcoran Issues Warning About Real Estate Market, Interest Rates

Many agreed with Corcoran’s perspective in the comment section.

“We are starting to see more and more homes sit on the market for this very reason,” said one real estate agent. “Buyers have so much more negotiation power while others are sitting and waiting.”

“Bravo! Buy 1697503506 and secure the property without the insanity then [refinance] when the rates come down,” another suggested.

Earlier this summer, Corcoran spoke on Fox Businesses’ “The Claman Countdown” and talked about the impending trouble she predicted for the residential real estate market following the inevitable drop in interest rates.

Related: Look Inside Barbara Corcoran’s $1 Million Trailer in California

“The minute those interest rates come down, all hell is going to break loose and prices are going to go through the roof,” she said at the time.

Barbara Corcoran is known as the quick-witted “Shark Tank” star who even billionaires like Mark Cuban look to for advice.

But the real estate mogul says she wasn’t always confident, especially growing up with dyslexia.

“If I wasn’t dyslexic and I didn’t have a hard time in school, I don’t think I would have been successful, believe it or not, because I think everything I’ve done in my life has been one long attempt to show the world that I’m not stupid,” Corcoran said in an episode of the Diary of a CEO podcast appearance posted on her Instagram page.

One way Corcoran learned to increase her confidence was to use people doubting her as motivation — even when she doubted herself. If she found herself in an “insecure situation,” she replaced negative self-talk with positive affirmations.

She suggests we “replace the tape” in the way we talk about ourselves.

Related: Inside Barbara Corcoran’s $1 Million California Trailer: ‘Everything’s Little’

“It takes a lot to get over the damage done if your self-perception is a negative one from the get-go,” Corcoran told viewers.

Corcoran, of course, is the founder of one of the most successful real estate companies in the world (The Corcoran Group). She’s also invested millions in entrepreneur’s businesses.

Related: Barbara Corcoran Says This 1 Purchase Was Her Best Investment

Barbara Corcoran’s net worth is an estimated $100 million.

Barbara Corcoran doesn’t shy away from sharing the secrets of how she built her business — or how she nearly missed out on building it at all.

In an Instagram video posted on Wednesday, Corcoran spilled about the early days of her career and how she almost didn’t hire the woman who would end up her business partner, Esther Kaplan.

But after a not-so-great first impression, all it took was one look inside Kaplan’s purse to change her mind.

Corcoran told her one million Instagram followers that when she first started her company, she had “nothing to offer” and that good employees were “hard to come by.”

When Kaplan came in looking for a job, Corcoran noticed that she was quiet and softspoken, which was the opposite of what most successful real estate agents were at that time, she said.

Although Corcoran had “no intention of calling her,” Kaplan handed over her business card upon leaving, and that’s when Corcoran got a quick glimpse inside her purse.

“She had the tiniest tidiest filing system I ever saw, with partitions that were labeled all inside her purse. With a mind like that, I knew I wanted my business in her purse,” Corcoran said. “I opened a position for her on the spot and told her I was eager to take her under my wing and teach her everything she needed to know to sell.”

Related: Barbara Corcoran Slammed For ‘Tone Deaf’ Advice to Interns

Two years later, the pair were running the Corcoran Group side by side, with Kaplan specializing in the backend logistics like finance, legal systems, and personnel while Corcoran worked on marketing, PR, sales, and everything on the front end.

Pamela Liebman took over from Kaplan and Corcoran as President and CEO of the Corcoran Group in 2000.

Many applauded Corcoran for her efforts and for putting trust in Kaplan.

Related: Barbara Corcoran Says This 1 Purchase Was Her Best Investment

“Amazing advice,” one wrote. “It’s important to find the missing puzzles to create the complete picture because we cannot be good at everything.”

“The ‘soft skills’ matter as much as knowing the industry,” another said.

Corcoran’s net worth as of Thursday afternoon was an estimated $100 million.

Business advice from Barbara Corcoran is usually coveted — even Mark Cuban looks to the real estate mogul for guidance — but her latest offering is catching heat for being outdated.

The “Shark Tank” star took to TikTok to share her advice for interns looking to turn their aspiring gigs into full-time paid positions.

“Always, always do more than you’re asked. Whatever your job is do another 50% Look for things to do,” she said in the clip that’s been viewed over 30,700 times. “The only worthwhile employee is the employee who takes the most stuff off the boss’s desk. That’s it.”

@barbara.corcoran My best advice to get a full-time job from an internship. #job #intern #summerintern #fulltimejob #boss #hiring ♬ original sound – Barbara Corcoran

Though supporting a work culture where people give more than just the minimum effort is not necessarily a bad thing, many users in the comments slammed Corcoran for being “tone deaf” in encouraging interns to do more work than they’re being compensated for, especially since some interns aren’t paid much, if anything at all.

Related: ‘Degrading’ and ‘Offensive’: Internet Divided After Barbara Corcoran Shoots Money Gun At Employees

“Awful advice,” one person wrote. “You don’t get paid for most internships so complete the duties assigned to you with quality, period. Don’t be overworked in any position.”

Barbara Corcoran sits on the set of “Shark Tank” during Season 12. (Getty Images)

“Barbara, no offense, but telling people who are working for free to do 50% more free labor is kind of tone-deaf coming from a multi-millionaire,” another said bluntly.

Corcoran is no stranger to hard work. She started her own real estate firm, The Corcoran Group, when she was just 23 years old and turned it into a company valued at an estimated $20 billion as of last year. She’s long since been a proponent of making it work with whatever you have to get where you want to go in your career.

The multi-millionaire is also no stranger to controversy when it comes to her business practices.

Related: ‘I’ve Had A Few Letdowns’: Barbara Corcoran Spills Behind-the-Scenes ‘Shark Tank’ Secrets

Last November, Corcoran took her employees on lavish shopping sprees to bougie New York hot spots such as Saks Fifth Avenue and Tiffany and Co., head of the holidays. Of course, some social media users thought it was too over-the-top and questioned Corcoran for posting her “good deeds” to the internet instead of doing so privately.

She also caught heat in March when she posted a video of her shooting a money gun of $100 bills at employees while they were at their computers working, watching employees get on their hands and knees to begin picking up the free money in a stunt that many called “degrading.”

Still, many praised Corcoran for the gifts to employees and the way in which she shows appreciation for them — after all, not everyone’s boss is willing to go to such lengths.

Corcoran’s net worth is an estimated $100 million.

Related: Barbara Corcoran Reveals She Was Almost Fired From ‘Shark Tank’ Before Filming Even Began: ‘ I Do My Best Work When My Back Is Against the Wall’

“Shark Tank” star and real estate mogul Barbara Corcoran issued a stark warning about the future of the commercial real estate market as buyers and sellers head into the summer months.

Appearing on FOX Business’ “The Claman Countdown” this week, Corcoran said the commercial real estate market is headed towards “trouble.”

Despite a plethora of commercial vacancies in cities, people aren’t going to jump on them for “pennies on the dollar” because there isn’t enough “confidence” to purchase these buildings right now.

“No one really believes it’s going to turn the corner,” she said bluntly. “People are staying home. Our best office buildings in midtown Manhattan are 50% occupied, and in most major cities or in secondary cities, we have a 20% vacancy rate. No one wants to take that chance.”

Corcoran’s stats reflect a larger trend nationally.

According to data obtained by NBC from commercial real estate company JLL, office real estate vacancies in the U.S. reached levels as high as 20% by Q4 of 2022, the highest they’ve been since the Great Recession since 2008-2009.

Corcoran believes that the regional and small banks will be the ones to suffer, as many businesses are unable to afford or are late on mortgage payments to their lenders.

“I don’t see that turning around,” she said. “I think it’s going to be a bit of a bloodbath before it gets better.”

When it comes to residential real estate, Corcoran said the market is “rebounding” but has an inventory problem. She also noted there is “no relationship” between commercial and residential markets.

“Sellers don’t want to move from their apartment, or their home, because they don’t want to take on higher interest rates,” Corcoran explained. “The people who are going out there and buying are finding they’re overbuilding. They’re having a hard time getting their hands on the house. And right now, what everybody’s afraid of is the high-interest rates. But the minute those interest rates come down, all hell is going to break loose and prices are going to go through the roof.”

Corcoran said she wouldn’t be surprised if housing prices jumped up again by 20% should interest rates drop by two points.

Realtor.com likened Corcoran’s mentality to the “chicken and the egg” riddle caused by the lack of available housing.

“Many sellers report being concerned about finding another home, which may cause some of them to put plans to list on pause,” Realtor.com chief economist Danielle Hale told Insider. “But this reduces the total number of options for buyers in the market.”

Last month, the Fed raised interest rates another 0.25 points, putting the range between 5.00% and 5.25%.

Barbara Corcoran has been wheeling deals on “Shark Tank” since the show premiered in 2009.

But what many don’t know is that Corcoran was almost fired from the ABC hit before she even stepped foot in front of the cameras.

The real estate mogul took to Instagram this week to share with viewers the wild story of how she really earned that coveted seat.

RELATED: ‘I’ve Had A Few Letdowns’: Barbara Corcoran Spills Behind-the-Scenes ‘Shark Tank’ Secrets

Corcoran said that she received a call from someone who said they worked for producer Mark Burnett and that they were casting for a new show called “Shark Tank.”

Joking that she thought the show was about fishing, Corcoran said she “was hooked” once she found out the premise and immediately signed her contract without even reading it, she said. She then hopped over to the iconic store Bergdorf Goodman to buy expensive luggage to get in the mindset of someone rich and famous.

But then, the unexpected happened.

“The day before I was supposed to leave for LA, that same lady called me to tell me they had changed their mind and were giving the lone female seat to another woman,” Corcoran explained.

RELATED: Barbara Corcoran Reveals How She Made $1 Million In Just One Day: ‘Nobody Wants What Nobody Wants’

So what did Corcoran do?

She sat down and wrote an email to Mark Burnett himself, imploring him to invite both women to the studio to compete for the role.

“Mark all the good stuff happened in my life on the heels of rejection, you know I do my best work when my back is against the wall,” she penned to the producer. “I consider your rejection to be a lucky charm, and I booked my flight and hope to be on that plane.”

Corcoran then flew out to LA and won the seat, where she’s remained for the past 14 years.

RELATED: ‘The Dumbest Sh-t Ever’: Mark Cuban Slams Metaverse Real Estate

“The lesson is always the same,” she said. “All the good stuff happens after you get back up.”

Corcoran’s net worth is estimated to be around $100 million.

RELATED: ‘Lemons Into Lemonade’: Barbara Corcoran Shares Hilarious Story About How She Was Mistaken for a Prostitute

“Shark Tank” star and real estate mogul Barbara Corcoran is known for treating her employees to lavish perks, like a holiday shopping spree at Saks Fifth Avenue and Tiffany & Co.

But Corcoran’s latest over-the-top move has the internet divided.

In a now-viral TikTok that’s now been viewed over 1.4 million times, Corcoran decides to treat her in-office team to a little cash bonus for Employee Appreciation Day, which was on March 3.

Except there’s one catch — the employees have to pick the money up off the floor if they want to hang on to it.

Related: ‘Is It Expensive Enough?’: ‘Shark Tank’ Star Barbara Corcoran Takes Employees on Lavish Shopping Spree

The clip shows the multi-millionaire entering the office where her employees are sitting and working with a money gun and then begins to feverishly shoot it, covering the floor with bills.

@barbara.corcoran #employeeappreciation #bossgoals #employee #worklife ♬ original sound – Barbara Corcoran

The employees then get on the ground and start scooping up what appears to be $100 bills and throwing the Benjamins into the air.

Many were quick to criticize Corcoran, calling the act “offensive” and “degrading.”

“Ughhhh the intentions are good but the actions were terrible,” one user wrote. “I would never throw money on the ground for people to pick up like animals.”

“Barb just deposit it in their accounts and give them the day off girl,” another joked.

However, some pointed out that the clip was most likely meant to be satire and claimed that Corcoran was shooting out fake money.

“It’s for fun and clearly they have a different work culture there,” one TikToker wrote. “All depends on the team and culture!”

Corcoran has not yet clarified whether or not the clip was meant to be a joke.

The “Shark Tank” star has been leaning into social media lately, starting a new series of get-ready-with-me-style videos where she tells little anecdotes from the beginning of her career to her followers while her makeup artist puts on her makeup.

According to Celebrity Net Worth, Corcoran is worth an estimated $100 million.

Related: ‘How Lucky Am I?’: Tour Barbara Corcoran’s $13 Million New York Apartment

As a multi-millionaire, real estate mogul, and Shark Tank veteran, Barbara Corcoran is no stranger to lavish properties and expensive real estate.

But what many don’t know (yet might expect) is that Corcoran owns quite the luxe accommodation herself in the heart of Manhattan, and recently shared a tour with the TikTok channel that’s known for touring apartments “on the spot.”

The channel, run by interviewer Caleb Simpson, stopped Corcoran in the street over the weekend before asking her how much she pays for the apartment and whether or not viewers could come inside in a clip that’s been viewed over 26.8 million times.

Corcoran delightfully agreed while sharing that though she owns the apartment, she pays $10,000 a month just on maintenance.

According to a 2020 interview with CNBC, it was estimated that Corcoran’s apartment cost her $13 million to purchase.

The real estate star says she’s lived in her unit for four years, taking viewers through a grand room flooded with natural light that she says she calls the living room, though she admits she doesn’t know exactly what the room is.

Viewers are then taken to a butler’s pantry and a child’s bedroom before heading up a grand staircase that leads to an upper level that boasts another living room and Corcoran’s favorite part of the home — a grand terrace, which she says has been half covered by scaffolding for the majority of the time she’s taken residence in the unit.

@calebwsimpson @barbara.corcoran ♬ Sunroof – Nicky Youre & dazy

Corcoran has one piece of her terrace with open views that reveal a picturesque view of New York City.

“This is the part where I begged the guy ‘please don’t put up scaffolding, just leave me this little piece’,” Corcoran explained. “The real reason I bought the apartment is because of the terrace and the view.”

Simpson and Corcoran then walk back inside to reveal the guest room and massive kitchen with an entire wall’s worth of windows.

RELATED: This Unique NYC Penthouse Was Once Owned By Barbara Corcoran

“I sit here every day and think to myself, how lucky am I? Never, ever did I think I would have such a pretty kitchen,” she admits to viewers.

The pair then head back inside to see Corcoran’s master bedroom and enviable shoe closet before the real estate mogul drops an unbelievable bomb about how she scored the unit.

“I was working as a messenger 26 years ago. I came, I delivered a package, I saw the view out of her door right there,” Corcoran explains while pointing to the main kitchen window. “And I said if you ever sell this ma’am, would you sell it to me? She called me 26 years later.”

Talk about fate!

Corcoran’s net worth is currently an estimated $100 million.