Kamil Sarji is the real estate broker and owner behind Gold Door Realty, a new real estate agency located at 581 Smithfield Road in North Smithfield. The property, located near Eddie Dowling Highway and within walking distance of Barry Field and Stop & Shop, is a commercial space that was renovated recently into the real estate firm’s headquarters.
But there’s also another new business known as Gold Door Co-Op that’s being housed inside the building, with an opening being planned for later this spring. Sarji, who obtained his real estate license in 2018, previously worked at Keller Williams Realty Inc.
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PBN: You recently renovated the New England Image and Print building in North Smithfield. What has this property now become? How are you using it?
SARJI: There’s been a lot of renovations. After acquiring the New England Image and Print building in North Smithfield, I reimagined the property as a multifunctional space, featuring a 3,400-square-foot residential home and an expansive 1,500-plus-square-foot commercial area.
Originally, my plan was to utilize the space exclusively for Gold Door Realty, but I soon recognized the potential for more. I created Gold Door Co-Op, which houses Gold Door Realty but also accommodates other businesses. This setup fosters collaboration and provides sufficient room for future growth and expansion of Gold Door Realty.
PBN: Can you tell us more about Gold Door Co-Op? What is a co-op, in this case, and what will Gold Door Co-Op offer to its clientele?
SARJI: Gold Door Co-Op represents a vision of a collaborative business ecosystem, wherein members can access the shared workspace while also fostering partnerships and synergies with one another. We plan to organize numerous networking events to welcome external businesses, facilitating opportunities for them to connect and learn more about our community.
I am passionate about understanding different businesses and their operational strategies, as well as encouraging the exchange of valuable experiences and insights among our members.
PBN: Why was this the place that you wanted to establish your real estate brokerage? What’s the backstory about how you ended up there?
SARJI: As I approached the completion of my broker’s license, I started searching for a suitable location to establish my real estate brokerage. My goal was to find a modest-sized commercial building in northern Rhode Island.
Initially, this particular property wasn’t on my radar due to its price, but once the cost dropped, I immediately went to inspect it. Having grown up down the street in Woonsocket, I had driven by this property countless times, always noticing it as a photo studio and print shop. The property comprises two buildings on a single lot, and although I was primarily interested in the commercial space, I recognized the rental opportunities and income potential that both buildings offered. Another advantage of this location was its prominence on a main road, ensuring excellent visibility.
However, the property wasn’t immediately ready for occupancy, requiring extensive updates, including electrical, plumbing and heating work. Despite these challenges, I saw the immense potential in this opportunity, not only for my brokerage but also for the North Smithfield business community as a whole.
PBN: Why is it called Gold Door Realty? And how many employees do you currently have in the firm?
SARJI: Choosing a name such as Kamil Real Estate Co., or Sarji Realty, would have placed the emphasis on my name rather than the agents in the brokerage. My goal was for agents to feel a sense of ownership, and not associate it with my name.
After much consideration, I settled on Gold Door Realty as the perfect choice. In my Syrian heritage, gold symbolizes wealth and stability, and it holds particular significance in my family, with my grandfather having founded Sarji Jewelry.
Presently, our brokerage consists of four agents and a transaction coordinator, all working as independent contractors. However, as we continue to grow, I plan to expand our workforce by hiring employees.
PBN: What are the biggest challenges you’re facing in this current Rhode Island real estate market?
SARJI: The Rhode Island real estate market presents challenges for both buyers and sellers. For homebuyers, despite higher mortgage interest rates compared to last year, the demand remains strong. The limited housing inventory, particularly in areas like North Smithfield, exacerbates the issue, with only a handful of homes for sale and hundreds of eager buyers.
On the other hand, home sellers face their own set of obstacles. In North Smithfield, there are currently 14 homes under contract, indicating that properties are selling. However, of the six homes listed for sale (not under contract), four have been on the market for over 30 days. The primary reasons for this are either overpricing or the property’s condition not meeting buyers’ expectations.
We approach each situation uniquely, tailoring our strategy to the client’s needs. For instance, if we’re assisting a buyer who is struggling to secure one of the six available homes, we explore how the four properties that have been on the market longer could be a viable option. In the case of sellers, we assess their goals, evaluate their property and suggest modifications to facilitate a sale on their desired timeline and terms.
To navigate this ever-changing market and stay current with advancements in technology and techniques, our brokerage holds monthly meetings to brainstorm and adapt our approach. These gatherings are crucial to our success and, ultimately, to the satisfaction of our clients.
Marc Larocque is a PBN contributing writer.
