How Can Real Estate Brokers Build a Billion-Dollar Career Through Relationships and Collaboration?

In an industry often dominated by cutthroat competition, one New York City broker has proven there’s a better way. With over $6 billion in sales and 35 years of experience, Louise Phillips Forbes of Brown Harris Stevens has built an exceptional career by prioritizing collaboration over competition and relationships over transactions. Her journey from dancer to top-tier real estate professional offers invaluable lessons for brokers at every level.

The answer: Build a billion-dollar real estate career by focusing on collaboration with industry peers, providing genuine service and education to clients, pricing properties strategically, and maintaining long-term relationships that outlast individual transactions. Success comes from viewing colleagues as collaborators rather than competitors and prioritizing knowledge-sharing within your professional network.

Why Did Louise Phillips Forbes Transition from Dancing to Real Estate?

Quick Answer: After injuring her back while dancing off-Broadway in New York City, Forbes was encouraged by a bartending colleague to try real estate, stumbling into a commission-only job that earned her just $8,400 in her first year—but she persisted because she discovered real estate is fundamentally about people, not just brick and mortar.

Louise Phillips Forbes didn’t plan to become one of New York City’s most successful real estate brokers. Born and raised in Nashville, Tennessee, she moved to New York to pursue her passion for dance. She performed in off-Broadway productions and danced for two small companies while bartending to make ends meet.

“I injured my back,” Forbes recalls. “And somebody said, man, you’d be so good in real estate.” That casual suggestion changed everything. Without even knowing the position was commission-only, she accepted a job offer. Her brother’s reality check—”You know, that’s commission only”—came as a surprise.

That first year was brutal. Forbes made only $8,400, barely enough to survive in one of the world’s most expensive cities. But she kept coming back. “I just love it,” she explains. “I mean, I used to think real estate was about brick and mortar, but it’s really a business of people. So that’s really what makes me tick.”

This people-first philosophy would become the foundation of her billion-dollar career. Unlike many who enter real estate focused purely on transactions, Forbes recognized early that sustainable success comes from genuine human connection and service.

How Did She Build a $6 Billion Sales Career One Deal at a Time?

Quick Answer: Forbes built her business from scratch with a network of “starving artists,” starting with a $63,000 transaction and gradually gaining momentum through developer marketing projects that wrapped her name around buildings, accelerating her reputation and earning her opportunities for $250-$300 million developments.

“My Rolodex did not consist of very wealthy people. It was starving artists,” Forbes admits. “So my business was literally built one deal at a time.” Her first transaction? A modest $63,000 sale—hard to imagine anything in New York City at that price today.

The breakthrough came when Forbes positioned herself not as a salesperson but as an educator and service provider. “I didn’t like thinking of myself as a salesperson for some reason,” she notes. “I really wanted to just be of service, and I wanted to be an educator.”

Her career accelerated when she secured her first development project in the West Village—a role that would define her specialty. As a developer’s broker, Forbes handled the marketing and onsite sales for new construction and conversion projects. “When your names are wrapped around a building and you’re doing a 250 or $300 million project, you start to gain momentum and a reputation,” she explains.

Over 35 years, Forbes has marketed over 35 development projects, specializing in ground-up construction in the East Village and conversions of rental buildings to condominiums. This deep dive into development taught her invaluable skills in construction, financing, and understanding what buyers truly want.

According to the National Association of Realtors, the median gross income for Realtors was $56,400 in 2023. Forbes’s success demonstrates that specialization in high-value niches like development marketing can exponentially increase earning potential.

What Pricing Strategies Work Best for High-Value Real Estate?

Quick Answer: Avoid pricing artificially low to create bidding wars or pricing too high to anchor negotiations. Instead, price properties correctly from the start based on thorough market analysis. As Forbes states, “If you’re not priced right, your phone is not going to ring. It doesn’t matter where it is.”

Pricing strategy can make or break a real estate listing. Forbes has strong opinions about the gimmicky approaches some brokers use. When asked about common strategies like pricing low to generate bidding wars or pricing high to anchor negotiations, her response was clear: “Not my style.”

“The components about real estate never change,” Forbes emphasizes. “Presentation, pricing. They will come. It’s like they build it and they will come. But if you’re not priced right, your phone is not going to ring.”

This straightforward approach reflects decades of experience in one of the world’s most competitive markets. While some brokers in commercial real estate might employ aggressive pricing tactics, Forbes has found that honest, data-driven pricing builds trust and attracts serious buyers.

The Zillow Research team has found that overpriced homes sit on the market 3x longer than accurately priced properties. Forbes’s insistence on correct pricing from day one aligns with this research and demonstrates her commitment to serving clients’ best interests rather than pursuing flashy but ineffective tactics.

How Has Technology Changed Real Estate Sales Since 1990?

Quick Answer: While technology has evolved dramatically—from payphones to smartphones and AI—Forbes’s business remains 90% referral-based, proving that core relationship-building skills still drive success. She welcomes AI as a tool for data interpretation rather than fearing it as a threat to human expertise.

When Forbes started her career in 1990, the landscape looked radically different. “We didn’t have these when I was selling real estate,” she says, holding up her smartphone. “I mean, literally had to go to Payphone on the corner. You can’t find a Payphone in New York City.”

Yet despite this technological revolution, Forbes’s business model hasn’t fundamentally changed. “My business is still probably 90% referral,” she notes. The advent of the internet, social media, and AI tools for real estate hasn’t replaced the core skill of relationship building—it’s simply provided new channels for connection.

Forbes’s approach to AI is refreshingly pragmatic. “I welcome the AI. I am not intimidated by it,” she states. Her entrepreneurial children, ages 20 and 22, help her navigate new technologies. But she sees AI as complementary to human expertise, not a replacement for it.

“My clients having access to that data, myself as well, it’s the interpretation of that data which is what’s really the texture of the market,” Forbes explains. In other words, anyone can access property data—the value lies in expert interpretation and application.

According to a McKinsey report on real estate technology, while proptech has disrupted many aspects of the industry, high-value residential and commercial transactions still require deep human expertise and relationship management. Forbes’s sustained success validates this finding.

Why Does Forbes Prioritize Collaboration Over Competition?

Quick Answer: Forbes views industry colleagues as opportunities for collaboration rather than threats, building a professional network where brokers freely share information about deals and market conditions. This approach creates lasting relationships that outlive individual clients and generates mutual success over decades.

“Buyers and sellers will come and go, but your people in your industry will be people who will be with you for your life,” Forbes emphasizes. This philosophy represents a radical departure from the zero-sum mentality that plagues many competitive industries.

When asked what advice she would give her younger self, Forbes was unequivocal: Focus on building relationships with industry peers through knowledge-sharing and transparency. “That generosity of knowledge, where you attract those kinds of individuals, where you can pick up the phone and say, Gabe, what are you in contract for? That has been the best lesson I learned.”

This collaborative approach extends beyond mere networking. Forbes actively shares market intelligence with colleagues, understanding that what goes around comes around. “I don’t look at my agents or my colleagues as competition,” she states. “I look at them as an opportunity for collaboration.”

This mindset shift has practical applications. When brokers collaborate instead of compete, they can: – Share deal flow and refer clients that aren’t a perfect fit – Pool market knowledge to better serve all clients – Create co-marketing opportunities for development projects – Build a reputation as a connector and resource in the community – Generate reciprocal referrals that compound over time

For those interested in finding mentorship in real estate, Forbes’s approach offers a blueprint: Give generously first, and the returns will follow.

What Lessons Come from Deals That Don’t Close?

Quick Answer: When a $15.9 million white-box development deal fell through after four months of negotiations due to the buyer’s health issues, Forbes learned what concessions she would and wouldn’t make in future negotiations. She also demonstrated grace by sending flowers and a thoughtful note to both the buyer and the cooperating broker.

Not every deal goes according to plan—a reality Forbes knows intimately. She recently lost what she calls a “Crown Jewel” deal: a $15.9 million white-box development project where the buyer had a fully negotiated contract and they were building out the space together.

“They had some health issues,” Forbes explains. “And we spent four months negotiating that.” While disappointing, she reframed the setback as education. “What I learned is what we would and wouldn’t do. And so the knowledge that I gained on that as I’m approaching the next right purchaser, I wouldn’t have known. So I feel that wisdom has armed me to lock and load.”

But Forbes didn’t just extract business lessons—she maintained her humanity. Despite the buyer not being her client, she wrote a thoughtful note and sent flowers. She did the same for the cooperating broker, someone she’d never worked with before in 35 years.

“The knowledge of and that opportunity of connecting with those people and the grace of being okay that the deal didn’t happen and being more focused on hoping her to be to be better was how I wanted to leave that,” Forbes reflects. “And that was really about my side of the street.”

This approach aligns with research from the Harvard Business Review showing that professionals who maintain positive relationships even through failed transactions generate significantly more long-term business than those who become adversarial.

The lesson extends beyond real estate: Don’t count on any deal until money hits the bank. Health issues, family emergencies, financial changes—any number of factors can derail even the most solid agreements. As Gabe Petersen noted in the podcast, he’s had deals fall through when a seller experienced a family death and decided to keep the property.

How Do Small Acts of Kindness Impact Long-Term Business Success?

Quick Answer: Thoughtful gestures like handwritten notes and small gifts keep you memorable to clients and colleagues, building goodwill that generates referrals and repeat business over decades. These “little touches” create differentiation in a commoditized industry where many brokers offer similar services.

Forbes’s gesture of sending flowers and a note after the failed deal wasn’t an isolated incident—it reflects a consistent practice of thoughtfulness. “Those little acts of kindness and thoughtfulness will keep you in their mind going forward,” Gabe Petersen observes during the podcast.

He admits his wife is “so much better at that—sending little notes, sending little presence.” It’s a skill he recognizes as valuable “both on the human side and on the business side.”

In an industry where transactions can feel cold and purely financial, these human touches create meaningful differentiation. According to Forbes business research, 70% of buying experiences are based on how customers feel they’re being treated, not the product or service itself.

For real estate professionals looking to build a long-term portfolio business, incorporating these practices creates compound returns: – Clients remember you when they’re ready for their next transaction – Brokers refer business to people who treated them well – Your reputation as “the broker who really cares” spreads organically – You attract higher-quality clients who value relationship over price – You feel more fulfilled in your work, reducing burnout

What Makes New York City Real Estate Unique as a Market?

Quick Answer: New York City’s real estate market is characterized by high prices, diverse neighborhoods requiring deep local expertise, complex development regulations, and sophisticated buyers who demand professional representation. Specialization in specific neighborhoods and property types is essential for success.

Forbes has built her entire career in New York City, developing intimate knowledge of neighborhoods from the West Village to the East Village. This hyper-local expertise allowed her to specialize in development projects, understanding both what buyers wanted and what developers could deliver.

“I specialized in that,” Forbes says of her focus on 22-unit condominiums in specific neighborhoods. “So it was really an amazing opportunity to have a slice of so many different neighborhoods in a very deep dive.”

New York’s market differs dramatically from other major metros. While cities like emerging short-term rental markets might prioritize cash flow, NYC buyers often focus on location prestige, building amenities, and long-term appreciation potential.

The New York real estate market is also heavily regulated, with complex co-op boards, strict building codes, and intricate financing requirements. This complexity rewards brokers like Forbes who invest in deep expertise rather than trying to cover everything superficially.

Where Does Forbes See Opportunity Outside New York City?

Quick Answer: Forbes identifies New Haven, Connecticut as a promising market where her sons are interested in investing, seeing opportunity in the formula and thesis. She’s also interested in Montauk for personal reasons—her family are surfers and water people who want to invest in places they love to visit.

While Forbes has built her career in New York City, she recognizes opportunities in adjacent markets. When asked about her favorite metro to invest in, she named two: New Haven and Montauk.

“I would like to continue to invest in New Haven because that’s a focus that my sons are interested in,” Forbes explains. “I see the opportunity and the formula and the thesis for it.”

New Haven offers several advantages for investors: – Proximity to New York City (about 80 miles) – Anchor institutions like Yale University creating rental demand – Lower price points than NYC – Emerging development opportunities – Growing cultural and dining scene

Her second choice reflects a philosophy that resonates with many investors: “I would like to invest more in Montauk. I’m a surfer. Our whole family’s are surfers. And we’re water people.”

Gabe Petersen shares this approach, noting his search for storage facilities in Charleston so he and his wife can continue visiting one of their favorite cities. “I like the idea of investing in places that you want to visit just because it makes the investment a lot more fun,” he observes.

This strategy combines financial returns with lifestyle benefits, though investors should be careful not to let emotion override sound financial analysis. The BiggerPockets investment community recommends running the numbers first, then choosing between financially viable options based on personal preference.

Key Takeaways: Building a Billion-Dollar Real Estate Career

Louise Phillips Forbes’s journey from making $8,400 in her first year to completing over $6 billion in sales offers several essential lessons for real estate professionals:

1. Focus on relationships, not just transactions. Buyers and sellers come and go, but your industry colleagues will be with you for life. Invest in those relationships through knowledge-sharing and generosity.

2. Collaboration beats competition. Viewing fellow brokers as collaborators rather than competitors creates opportunities for mutual success, referrals, and market intelligence that compounds over decades.

3. Be an educator and service provider, not just a salesperson. Forbes’s success came from positioning herself as someone who helps clients understand and navigate the market, not someone who just pushes transactions.

4. Price properties correctly from the start. Gimmicks like artificial low pricing or high anchoring don’t build trust or sustainable business. Honest, data-driven pricing serves clients better and generates more referrals.

5. Specialize deeply rather than broadly. Forbes’s focus on development projects in specific NYC neighborhoods created expertise that commanded premium fees and attracted high-value clients.

6. Demonstrate grace when deals fail. Sending flowers and notes when a deal falls through may seem counterintuitive, but it builds long-term goodwill and keeps you memorable for the right reasons.

7. Embrace technology as a tool, not a threat. AI and digital tools provide data access, but human interpretation, relationship skills, and market expertise remain irreplaceable.

For those looking to build real estate wealth or transition into sales, Forbes’s career demonstrates that sustainable success comes from genuine service, deep expertise, and treating people right—even when there’s no immediate transaction on the table.

Whether you’re exploring multifamily development, mobile home park investing, or traditional residential sales, the principles Forbes lives by create a foundation for lasting success in any real estate niche.

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