P. Gilbert “Gil” Mercurio was an urban planner before he headed a broker powerhouse 6,500 members strong and growing.
Perhaps that”™s why he observes the residential real estate market through such a broad lens ”“ the legislative action that can simplify and improve the transaction process, the jobs that pay the people who pay the mortgages and why there needs to be mixed-use development for a changing population.
Mercurio, CEO of the Westchester Putnam Association of Realtors Inc. and Empire Access Multiple Listing Service, is retiring Dec. 31, 2011. He will continue to consult with the association.
With imminent plans for a merger with association neighbors to the north, a changing economy and a housing market as unpredictable as the weather, the 31-year CEO has had his hands full.
“What”™s going on right now looks more like 1996 than it does almost 2012,” Mercurio said of market volatility and its effects on the thousands of Realtors he represents. “They (brokers) have to spend a lot more time on each transaction with a higher degree of risk that it will fall apart.”
That”™s, in part, why he and WPAR encourage continuing education and specialized training ”“ like in short sales or commercial brokering ”“ and precisely why 8,000 to 9,000 students enroll each year.
Preparing the workforce to properly broker a deal is of paramount importance.
“Housing is really fundamental to our economy,” Mercurio said. “Every time there”™s a transaction, there”™s thousands of dollars involved with moving companies and landscaping and furniture, not to mention property taxes that accrue to the local government ”¦ there”™s a huge multiplier effect.”
Westchester County is in a better position than some areas to recover from the economic impact of the mortgage meltdown, he said. But it”™s going to require restoring confidence, lower unemployment numbers, more jobs and working around a potential loss of the mortgage interest deduction.
“This current recession is different because people don”™t want (to get into the market),” he said. “They”™re afraid they”™re going to lose their job or afraid of the economy in general and they”™re really postponing acquiring a property or home.”
But Westchester has had a saving grace in its proximity to New York City.
“The wealthier people with higher-end properties are still able to navigate this market,” he said. “There is still traffic from New York City into Westchester.”
And Westchester is not overbuilt, like the housing markets in Florida, Texas and Las Vegas, and does not have the resulting unsold inventory that comes with that density.
To further expand resources for WPAR brokers, a planned merger by the start of the year with the Orange County Association of Realtors and the Rockland County Board of Realtors would increase the member tally to some 10,000.
“That would put us to about No. 10 in the country in terms of size of operation,” Mercurio said. “We”™re hoping with this merger to really enlarge the pool of students, because our neighbors at Rockland and Orange also have that attitude on education: you can”™t have too much of it in real estate.”
Mercurio rates his advocacy work in the legislative arena ”“ pushing for real property conditions disclosures and additional licensing requirements ”“ among his proudest moments at WPAR.
“People want an open, transparent transaction and this organization was instrumental in making those things happen,” Mercurio said. “I wish the same for Rich Haggerty, my successor here, who I know feels the same ”¦ to do good things for the public if you possibly can.”
His counterparts in the Westchester business community couldn”™t agree more.
Marsha Gordon, president and CEO of The Business Council of Westchester, said Mercurio”™s contributions to the county and industry have been characterized by “integrity, professionalism and solid business-building and community enhancement.”
From 1970 to 1973, Mercurio was an urban planner in the Westchester County Planning Department.
He took on a role as director of research and planning for the Westchester County Association and the World Trade Club of Westchester in 1973.
“I did that for seven years, it was a wonderful experience, but I got the seven-year itch and this organization (then the Westchester County Board of Realtors with a member count of some 1,700) was looking for someone to rejuvenate it,” he said. “I took the plunge and 30 years later, here I am.”
“Time flies?” a reporter says.
“No, it doesn”™t fly,” is his quick-witted response.
“That”™s why I”™m retiring.”
 The real deal on the penguins
Every businessperson has an extracurricular passion.
Gil Mercurio”™s is penguins.
It”™s not a fascination, he says, and in fact, it came about unintentionally.
“I once shared an obscure fact about penguins with a staff group, such as ”˜Don”™t short-sell them just because they look dopey,”™” he said, then describing how penguins huddle together and rotate to keep warm. “After that, someone gave me a penguin and put it on my desk. Someone else saw it and said, ”˜Oh, he likes penguins.”™ I don”™t seek the penguins out. They sort of swim in to me and sometimes, one will come in and I don”™t know where the hell it came from.”
His collection ”“ or as he likes to call it, his “receptacle” ”“ ranges from the plastic, inflatable “Pierre” who guards the entryway to WPAR offices to a Steuben crystal penguin from colleagues at the New York Association of Realtors.
There”™s even a fat, fuzzy stress-reliever penguin for those days when Mercurio is waiting on last-minute transaction reports to run that quarter”™s numbers. (Listen up, you broker-procrastinators.)
“I”™ve always had an interest in science and I guess penguins are a part of it,” he acknowledged. “I paid special attention to the films and they”™re not as dopey as they may appear. I like penguin interpretations, too and colorful things.”
If anything, we agreed, the bird”™s choice in apparel ”“ black and white ”“ is always “in.”
Pierre the Penguin is used as WPAR”™s social media mascot, driving interest and buzz on company YouTube and Facebook accounts. Each week, he is photographed and filmed in a secret regional location and broker-members are encouraged to pinpoint the location for a prize. Visit WPAR online at wpar.org.
