SPOTLIGHT ON: Anthony Domathoti
Mary Prenon | May 2019
A Long Road Traveled to Real Estate Industry
Years ago, Anthony Domathoti, now the broker/owner of Exit Realty Premium in the Bronx, had no idea he would one day have a successful career in real estate.
Armed with a degree in Education Administration from St. John’s University in Queens, Domathoti had a thriving career as principal for a private New York high city school. “I was the type of principal with the tie tucked in the shirt and sleeves rolled up playing ball with the kids,” he recalled. “I loved working with kids and my biggest goal was to make sure they were learning and growing.”
Later, he had the opportunity to travel extensively, working with international private American schools in China, Southeast Asia and Korea. He actually spent a year in China and four years in Korea. He also traveled to Central America, including Honduras, Nicaragua and El Salvador.
“It was very exciting and rewarding, but I felt that as my parents were getting older, it was time for me to come back home,” he said. Born in South India, Domathoti came to the United States as a child and actually grew up in Queens, where he still lives today. “My parents were immigrants and came here for work. Both had successful careers in the medical field.”
What first attracted him to real estate was his family’s experience of buying, refurbishing and either selling or renting multi-family properties. They would seek out distressed properties on the market, and make them habitable again. “People would tell us, ‘Oh, you should buy this place or that place’,” he remembered. “We started out small and now we have a crew who work with us.”
The rental market in New York City is hot, said Domathoti, with some studio apartments in Queens getting as much as $1,800 a month. “A lot of people are coming from Brooklyn and Manhattan, which is so overpriced,” he explained.
Just about the same time he got into the house-flipping business, Domathoti earned his real estate license and was an independent broker servicing Queens, Long Island, Brooklyn and Manhattan. “I just looked around and thought, I can do this buying and selling myself,” he said. I’ve always loved working with families, so this was a natural fit.”
A Realtor for nearly 20 years now, he purchased the Exit Realty franchise in 2016, opening Exit Realty Premium on Morris Park Avenue in the Bronx.
With 15 agents in his office, the brokerage services the local area, Brooklyn and Queens, specializing in rentals and capital developments in Manhattan.
Domathoti especially enjoys working with first-time homebuyers, investors and veterans. He often works with the Veteran Association of Real Estate Professionals (VAREP) to help both active and retired military personnel find homes.
This year also marks Domathoti’s first time as an HGAR Board of Directors member, and he’s enjoying every minute of it. “I share our President Ron Garafalo’s vision of striving for excellence in this profession, and I’m excited about the huge task of merging our MLS with the Long Island MLS,” he said. “I’m glad to be part of something that’s growing and resonating the 21st Century in so many ways.”
Domathoti is a member of the Bronx Chamber of Commerce and also supports the Van Nest/Morris Park Association, a local community group. With Exit Realty, he participates in the Candles of Hope program, a non-profit group that plans birthday parties for homeless children living in shelters. He has also been involved with Bags for Kids and Harvest Baskets, which provide supplies and foods for children and families. Habitat for Humanity is another charity that he supports through Exit Realty.
As for his free time, Domathoti loves traveling. “I must have about a million air miles by now,” he quipped. He also enjoys hiking and golfing.
Earlier this month his firm held a “Mix and Mingle” real estate event at the Pine Bar & Grill in the Bronx. The widely-attended event included everyone in the real estate business, from agents to mortgage professionals to home inspectors and title firms.
He also believes that despite all the new trends in technology, real estate agents are here to stay because real estate is still a “people” business. For anyone considering a career as a Realtor, Domathoti has some sound advice: “Be people-centric and an active listener,” he said. “You also need to have empathy because your primary product is people, not homes.”