Scott Porter has lived through both financial extremes. He grew up in The Hamptons, home to some of the most expensive second homes of the elite. He watched his father grow a luxury real estate company into three brokerage houses that were fortunate to be acquired internationally. While his early life was defined by familial success, the financial crisis of 2008 changed this.
“It didn’t make sense to me. My family went from the top of the world to the bottom. That experience has allowed me to read between the lines in this game of life. And that is what I do, slowly climbing my way to the top. Where I am supposed to be,” Scott says.
Now, Scott runs his own residential real luxury real estate between Miami and The Hamptons. He was motivated by achieving financial success and being his own boss. Growing up in a real estate household, Scott was able to see the ins and outs of the business from an early age.
“My father was constantly taking appointments, closing deals, and furthermore I watched him answer to only himself. That was a huge eye opener for me when I started taking real estate more seriously,” Scott recalls.
Scott has been fortunate enough to have lots of support on his journey to success. He does, however, acknowledge the trade off that comes with financial and professional freedom.
“I ultitatemly decided on real estate for the freedom that the career allows you to have. That freedom is not to be taken for granted though; there have been multiple times where I cut family time short, miss events, blow off friends, just to make sure I am closing deals,” Scott says.
While he comes across as incredibly experienced, Scott is actually considerably young for the industry. This, he cites, is one of his biggest challenges. While your age does not automatically determine your success, it can be a factor that causes others to not take you seriously, something that Scott has experienced first hand, and has had to work against to secure the best for his clients.
“The Miami market is super hot right now. I was just in a bidding war for a prime Miami Beach waterfront house that started at $80,000 per month and went all the way to $120,000 per month. I ended up finding another house for my client that we closed at $77,500 per month but I truly believe that because of my age I was not taken as seriously during the negotiations. Having said that, the house we secured for my client is much better than the house we were in a bidding war in,” Scott explains.
While Scott may not have control over his age, he does have control over his mindset. This is something he understands the importance of and takes very seriously, especially when times are tough.
“The mindset is crucial, even when the deal you’ve been working on for months falls through and your rent is due in 5 days. It is the mindset that gets you through those tough times. I am not a gambler, at all, but nine times out of 10, I will bet on myself to get the job done. The other 10% of the time I work with people in the business that have much more experience than I do. Although I want to do it all myself, I am understanding that bringing in the best people to help you only allows you to advance your career,” Scott says.
Surrounding himself with experienced people is one of the key ways Scott is able to stay on top of his game. As someone who has accomplished so much as such a young age, Scott is able to lead as an example for others. For those looking to start their own business, Scott emphasises the importance of planning.
“Make a plan, run your plan, and keep planning. I have my 5 year goals, 10 year goals, and 15 year goals. I believe those goals are important because they are guidelines for what you want to achieve. Envision what you want and run your plan to get what you want,” Scott outlines.