Why Prosperity Real Estate?

Based in the heart of Sharae’ Chesed in Jerusalem, Israel, and led by real-estate expert, Ronit Dwek, Prosperity Real Estate, a boutique brokerage and investment firm, is the area’s premier resource for luxury real estate.  It caters mainly to the special needs of home-buyers, sellers and investors of a predominantly international clientele.

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With a stellar real estate sales record throughout its steady growth since its inception a decade ago, Prosperity Real Estate established a solid and singular niche in the overpopulated world of real-estate brokers.  It specializes in marketing unique, high-end, both residential and commercial properties with the prerequisite of prime locations.

Its residential division focuses primarily in the firm’s own back yard in the following upscale neighborhoods in Jerusalem: Sharae’ Chesed, Rechavia, Talbieh, Old Katamon, German Colony, Greek Colony, Baka and Yemin Moshe.   Its investment division focuses on lucrative real estate investment properties and projects across Israel, as well as select projects abroad.

As such, Prosperity Real Estate has earned the trust of an elite group of clients consisting of some of the most accomplished, high-net-worth individuals, groups and companies, both local and international, who either want to buy their own home in Jerusalem, or seek to invest in a variety of yielding properties and real-estate projects.  It has also earned the respect of property owners, developers, and the entire array of the finest available real-estate professionals. 

Prosperity Real Estate is thus positioned optimally to receive first-hand, often exclusive, advance knowledge of some of the most desirable homes and properties coming up for sale and of lucrative real-estate investment opportunities. With the expertise, resources, skills and talents to bring the right people together, to construct, negotiate and close the deal, manage and/or operate various aspects of a given project as well as market it to an end-user, Prosperity Real Estate is a popular choice for some of the most sophisticated real-estate professionals, buyers, sellers, developers and investors.

Ronit Dwek, President and CEO of Prosperity Real Estate, is a third generation native of Jerusalem, where her family has been in the real-estate business since the early 1960’s and where she has been marketing real estate for the past two decades.  She is married to Simon Dwek, a builder of luxury homes based in Jerusalem, and is the mother of their three children.  The family tradition continues and their eldest son Tomer Dwek, who is a licensed real estate broker in his own right, just joined Prosperity’s sales team.

Prior to joining Prosperity Real Estate, Tomer completed a three-year voluntary service in the Paratroopers Brigade of the IDF. His exemplary service, performance, demonstrated communications and instructional skills, and leadership abilities awarded him the opportunity to be included in a hand-picked, small delegation of soldiers who were sent to instruct and mentor Jewish-American youth in their summer camp in the USA.

I asked Ronit Dwek a few questions about Prosperity, about her views on Israel’s real-estate market in general, about Jerusalem and specifically the neighborhoods and markets Prosperity operates in, as well as about what drives or inspires her to work with such devotion to building her business and serving her clients.

What can you tell us about your background as it relates to your work? 

Growing up watching my parents run the family real-estate business both taught and inspired me.  My mother, Sarah Hayon, demonstrated outstanding executive and administrative capacities and she was practical and efficient, reliable and honorable in her business dealings.   Uri Hayon, my late father, specialized in building luxury homes in Jerusalem since 1960, was very creative and a true people’s person.  When other children went to the zoo, I accompanied my father to construction sites and meetings with clients who, like my clients, were mostly English-speaking.  He was fluent in three languages including English and there, early on, I learned some of the professional terminology and about clients’ ideas of standards-of-living. 

My father so much enjoyed his work and interacting with people of various backgrounds that sharing it with him was for me, pure fun and, in retrospect, contagious.  He had an appetite for life, appreciation for comfort, quality and beauty, a taste for the finer things, a passion for his work in both design and construction, a talent for communicating, and genuine love of people.

I grew up watching, listening and learning from both my parents about the value of building productive business relationships based on professionalism and integrity, about the rewards of outstanding customer service, the art of effective negotiation, and the joy of handing a client the key to their home.  It all became a part of who I am, why and how I do business, of what I still identify with, share and enjoy at work today and every day.

Now with the global housing and real-estate markets crisis, how does the Israeli market compare?

I can only speak with certainty about my own experiences.  I do, however, read and listen to news regarding local, national and global real-estate market trends and take both into consideration in drawing my own conclusions, and to-date I have been mostly on track.  I believe that the real-estate market in Israel is unique because of a convergence of factors and trends that I will attempt to illustrate.

According to one the world’s largest market research companies, MarketResearch.com, Israel’s real estate market performance in 2009 is quite unique and superior comparatively.  On July 23, 2009 they released Israel’s Real Estate Report for the third quarter of 2009, which said:

"The Israeli real estate market - at least in the residential segment - has confounded analysts with its solid performance amid a weak wider economy.  The Bank of Israel left interest rates unchanged in May following a series of reductions that began in October 2008 that brought rates from 4.25% to its current rate of 0.5%.

Despite that, Israel's residential property market recorded the biggest growth of all the countries surveyed globally according to a new report.  The Knight Frank Global Price Index showed Israel growing by10.9% over the 12-month period ending Q1-09, making it the strongest performer in the world.

A May [2009] home price survey by Israel's Central Bureau of Statistics reported that prices in April rose 1.5% on average, and in the previous 12 months had climbed 11.4%.   For Israel overall, the average price of an apartment stood, at Q1-09, nearly 5% higher than in the Q4-08."
    
On October 21, 2009 they released Israel’s Real Estate Report for the fourth quarter of 2009, saying:

"Despite a weak global economy, Israel’s residential sector has remained strong".

I recognize that the neighborhoods that Prosperity specializes in do not represent the average Israeli neighborhood, nor the average home or home buyer in any way.  Yet from my experience working in these neighborhoods the demand continues to exceed the supply and though small inventories are not always good news for those who are in the business of selling it, I have to agree that the residential sector remains strong and therefore great for those who buy.

On November 4, 2009, the Jewish Press published an article titled Last to first: Israel’s Economic Miracle, by George Gilder.  He is the author of 15 books, including the international bestseller Wealth & Poverty, director of the Discovery Institute's Technology Program and a practicing venture capitalist. The article was adapted from Gilder's The Israel Test, recently published by Richard Vigilante Books, and it says: 

"As it approached the end of the first decade of the new century, Israel was a global center of microchip, telecom, optics, software, biotech, and medical-devices research, the country's development and entrepreneurship rivaled only by its partners in Silicon Valley.

As one prominent U.S. engineer put it, “When I became VP of business development for ROW (rest of the world), it was obvious that Israel is now the capital of the rest of the world.” 

I think it’s easy to see the importance of this development which placed Israel’s economy on the global economic map with a high rank.  This must continue to draw increasing numbers of talented individuals and companies from all over the world who seek to be amongst some of the leaders of these important global industries.

According to Dr. Passig, approximately 45% of Israel’s residents are between the ages of 0-25 and so Israel expects an unparalleled wave of consumption across the board, including housing.  Professor Passig, specializes in future technologies and their impact on economic, social and educational systems.  He holds a Ph.D. degree in Future Studies from the University of Minnesota in Minneapolis, USA and is a faculty member at Bar-Ilan University, Ramat-Gan, Israel, where he teaches at the Graduate School of Education.  He has consulted for many institutes and companies in Israel, Asia, Europe and North America, has been a director in one of his own, and lectures for colleges, universities, professional associations, government and financial entities. 

I think that the convergence of these and other factors I may not be aware of, coupled with what having a home in Israel represents for many people across the world, may explain why Israel’s real-estate market is spared the crisis that the global real-estate market still greatly suffers from.”

What in your view, what makes Jerusalem real estate market unique?

I will say that Israel represents a spiritual center for many people across the globe, and Jerusalem represents the heart of that center. 

I travel the world extensively and have seen many beautiful and wonderful places across the globe, some which I love and frequent.  Yet in my book—in my naturally biased view—Jerusalem has an unparalleled beauty and a distinct character and energy about it that, unless personally seen and experienced, cannot be explained in words. When you connect with it, it’s like falling in love. 

When one buys a home in Jerusalem one gets the obvious tangible benefits of owning a home anywhere, but one also experiences the intangible benefits of having a foot-hold, a solid connection to that spiritual heart.  So, for most people who buy here, it is both a practical and an emotional purchase, if you will. 

In addition, especially in the neighborhoods where Prosperity Real Estate focuses on marketing, our experience says that there is always someone who will be happy to pay you more to move into your home.
   
What is unique about the neighborhoods in Jerusalem that Prosperity Real Estate focuses?

Cliches are sometimes just perfect, so I too will say it:  “location, location, location…”  Prosperity focuses on marketing properties in Sharae’ Chesed, Rechavia, Talbieh, Old Katamon, German Colony, Greek Colony, Baka and Yemin Moshe.

These are some of the oldest neighborhoods built outside the walls of the Old City in Jerusalem.  They are central, and are walking-distance-close to both modern Jerusalem’s city center, and to the Old City, The Kotel, and other holy sights and main prayer-houses and synagogues. 

There is outstanding architectural-charm, boasting old Arab Houses with thick stone walls, tall ceilings and arched windows and doorways, and mature vegetation and landscaping, and newer construction which honors the preservation of the unique architectural character of these neighborhoods, yet harmoniously introduces complementary modern architectural elements and amenities. 

These neighborhoods are easy to fall in love with and attract a sophisticated, cosmopolitan crowd of some of the most creative, accomplished, and wealthy individuals in the world, who feel a strong spiritual connection to the place and want to be in the heart of Jerusalem.

How would you describe your clients?

To me each client is unique, but if I had to give a profile of my clients I would say that the vast majority is a sophisticated international crowd consisting of some of the most accomplished and well- to-do individuals in the world, and for whom Jerusalem is a spiritual resource.  Some live here part time, some full time and some keep a holiday home here. 

I also represent an elite group of high-net-worth international and local investors who are seeking to invest in a variety of yielding properties and real-estate projects not only in Jerusalem, but across Israel and select projects abroad.

I am proud to say that many of my clients have become close associates and some have become dear personal friends, both which I cherish and consider as rewards and am grateful for.  They continue to enrich my life as I gladly work to continue to enrich theirs.

What do you attribute your professional success to?

Without getting philosophical about what success is, for me professional success is the ability to contribute to providing for my family a good and comfortable life in the context of contributing to others’ well-being and prosperity. One treats family, friends, employees, associates, clients and other fellow human beings with dignity, kindness and integrity.  I have had my fair share of successes.

While success is the result of a combination of factors such as life experiences, innate talents and capacities and education, it is mostly the result of drive, a positive attitude, a diligent and consistent work ethic and the thoughtfulness to thank G-D and the people who support one along the way.

This is a perfect place and time for me to thank Einat Cohen—our Customer Service and Office Manager—who for the past seven years to-date, shares Prosperity’s mission.  She is a former customer service representative at the King David Hotel in Jerusalem, and former office manager for the Doctor-in-Chief of the County’s Health Department. She holds a BA in business management and communications.  I am both proud and grateful to have her on our team.  Thank you Einat—both my life and Prosperity is made better by you.”

What are some of your guiding principles when dealing with clients? And what makes your service unique?

I called my company Prosperity Real Estate because my core guiding-desire or mission is for my work to ultimately contribute to the well-being and prosperity of each client I have the honor to serve. 

I believe that building a prosperous business lies in building long-term, solid and productive professional relationships based on mutual trust and respect and that facilitating the successful close of one “win-win” real-estate transaction after another, is a great way of doing it. 

I consider being entrusted with finding the right home for a client almost sacred.  It is an intimate, important and responsible job as well as an opportunity to impact someone else’s life very positively.  So it is a privilege that I am grateful for, and I am committed to doing the best job I can everyday.  A home is often the largest material asset one possesses, a safe haven and a supportive environment for one’s self and family, and a place one shares moments that matter most with those one dearly loves. 

Therefore I take my job very seriously, and go to great lengths to take excellent care of each client.  I have passion for my work, appreciation for architecture, good living and the highest regard, love and compassion for people.  I value integrity, kindness, professionalism, hard work and productivity.  I listen carefully to each client’s unique story and circumstances to learn about their special needs and desires so we can answer them most effectively. 

We strive to bring to the table, the highest expertise, an up-to-the-minute and in-depth knowledge of our market, of the properties and the people who own them and live in them, as well as an array of the finest real-estate professionals, to best help our clients quickly distinguish between fact and fiction.

That helps our clients to align their needs and desires with the facts of the market, so they have realistic expectations, are able to make an informed and intelligent decision that best meets their needs and desires and, in line with my mission, serves their ultimate well-being and prosperity. 

I decided to find out what others had to say about Prosperity Real Estate and Ronit Dwek:  

Not only do I trust the exclusive marketing of my luxury real-estate projects to Prosperity Real Estate but I also invested through and with them in a number of properties and real-estate projects which proved to be very lucrative.


Ronit Dwek is a high-integrity, consummate professional.  She has passion for her work and abundant energy, both creative and practical, with singular business instincts, an in-depth knowledge of her markets, talent for building productive relationships and a great sense of timing.  

Demanding more from herself than most imagine possible, she raises the bar for anyone who gets to work with her—an opportunity that is both good business and a genuine pleasure.  She is like the glue that brings all the elements together in just the right way, place, and time to seal the deal in such a way that everyone involved wins. Outstanding.”


Avi Haver/CEO
A. Haver LLC
Developer of residential, mix-use and commercial properties
Jerusalem, Israel
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Dear Ronit,

Atara and I decided to use Prosperity Real Estate brokers because of your great reputation for finding the right home for your clients and your unmatched bargaining power. Our experience was truly a pleasure working with you.

We found someone who listened to our concerns, worked with us to the find the place we wanted and not what another broker was trying to sell. You were our advocate in negotiating with the builder and your involvement throughout the negotiations and more impressively after the contract was signed, is indicative of the professionalism and “menshlechkeit” that you display.

In addition, you truly negotiated amazing specifications from the builder and saved us significant money due to your personal involvement. Your insights and ability to synergize our lawyer and architects ideas with your background in building really helped us create the wonderful home we were dreaming of.

We have highly recommended your company to our friends and will continue to do so as the years progress. Atara and I wish you beracha vehatzlacha and feel free to add us to your official list of satisfied customers.

Sincerely,

Michael & Atara Reichel

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Dear Ronit,

It will soon be a year since I've moved into my new flat, and I finally have the time for reflection. I look at my amazing flat and think of all the people who helped me get here. Of course, you came into mind and I would like to thank you at this time, again.

Looking for a flat, a home, is one of the most unbalancing experiences one can go through, and you made the experience not only an enjoyable one, but also an extremely efficient one. I met with other real estate agents and none of them had your "touch" -- an understanding of the person standing in front of you and their needs.

I think that you have been blessed with a gift of tuning-in to people, and putting in the hard work to make sure that all are happy.  You should know that it was most appreciated.  Whenever anyone asks me who was my real estate agent and what do I think of her, my answer is always the following:

1. Ronit is wonderful. Not only is she a lovely person but also she never took me to see one thing that wasn't appropriate.

2. If Ronit doesn't think that the flat feels right she'll let you know and won't let you buy something just to make a quick buck. There is an integrity which is generally sorely lacking in the field of real estate.

3. You'll never find a better negotiator. (And just a side note: I do believe Ronit, that if you were negotiating peace with the Palestinians, we'd already be celebrating...)

Thank you again for everything!

With much appreciation,

Lucy Blaser
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Several years ago when we contemplated the idea of purchasing an apartment in Jerusalem, a name that was consistently provided to us to use as a real estate broker was Ronit Dweck and Prosperity Real Estate. We, together with our children, went to Israel and called Ronit. Never ever were we disappointed!

Throughout the entire process of looking, selecting, negotiating and closing on the apartment of our dreams, Ronit was there with us every step of the way. Her insight, persistence, knowledge and "hand holding" coupled with her integrity made for a successful as well as a very pleasurable experience!  In short, it was a delight getting to know Ronit as well as working so closely with her and her very able team at Prosperity!

Jeffrey and Naava Parker
Englewood, New Jersey

To contact prosperity real estate:
972.2.567.0303 [email protected]

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Interview and article by: *Tallia Amos - [email protected]
January 20, 2010
(All rights reserved 2010)
*Tallia Amos is an independent writer, business consultant and Realtor based in Beverly Hills, California

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