The Business of Being a Commercial Real Estate Agent

Working in commercial real estate is quite different from helping home buyers and sellers—you’re working with business owners and investors with a very different inventory.

A commercial transaction might deal with multi-family, mixed-use, retail, or office space. Therefore, successful commercial real estate agents must know about sales and leasing in a broad array of property types. There are different kinds of tenant negotiations that occur, and different types of marketing strategies. And a transaction could be for an owner occupied property or as a commercial real estate investment, adding additional factors to the transaction.

What do investors, buyers and tenants want from a commercial real estate professional

First off, commercial is a specialty, so it’s best that an agent gain experience and knowledge in this specific sector of the real estate field. Know (or learn) how to deal with commercial transactions—there are no uniform contracts or cookie cutter leases. That means sharpening your negotiation skills as well as understanding the leasing or commercial buying process.

Of course, just as with residential sales professionals, being proactive is important. Aside from canvassing the local market for properties and leads, research is key to commercial transactions.

  • Use your office’s systems and tools to research market rates for rentals
  • Become conversant in investment packages
  • Gain a full understanding of the different areas in your market. Do properties in certain areas attract certain kinds of businesses? Do the listing prices make sense for sale properties?
  • Can you provide a detailed and accurate financial analysis for commercial investors?

Aside from research, developing good relationships with area business owners can help create strong database and referral network. When that investor calls the office looking for help finding the right property, you’ll not only have the listings services as a resource, you’ll have local people to contact and potential space to visit because you’ve done your homework.

Speaking of referrals—remember that commercial real estate transactions often involve build outs and other improvements as part of the lease negotiations. Therefore, good power partners are architects, general contractors, and others involved in lease improvements.

More complicated investment deals may require partnering with others to make a successful transaction, so it’s important to know the players in your area or your office to create a winning team.

If you are working with tenants, it’s important that you show them you understand their businesses and that you are showing them space that makes sense for their needs. Whether it’s a restaurant, retailer, healthcare facility or law practice, every client has different needs in terms of square footage, utilities, parking and leasehold improvements.

When working with building owners, these clients want to know that you have a good performance record when it comes to finding strong tenants or solid buyers; your experience will speak for itself. They will also count on you to represent their interests to potential buyers or tenants, and that you can negotiate a strong deal on their behalf. Like the buyer or tenant, the seller or landlord will want to know that you have his/her best interests in mind throughout the transaction.

From any side of the transaction, building trust builds relationships that will in turn build business.

Build your book of business at Century 21 Cedarcrest Realty

Our office is growing—and we’re always looking for savvy commercial real estate agents to join our team. When you join our northern New Jersey office, you become part of one of the country’s most well-respected real estate organizations, with business-building tools and apps designed for commercial real estate agents. You can take advantage of commercial investment training that will position you for a broader range of transactions. Plus, you’ll benefit from our ongoing in-office training and development for agents at all stages of their careers—an important way we support our team, and why Century 21 Cedarcrest Realty consistently wins industry awards for sales volume and customer service—and accolades and awards from consumers as well.

Interested in learning more? Contact Susan Mazzetta at (973) 228-1050, ext. 126 for a confidential interview.

Are you an Experienced NJ Real Estate Sales Professional with a Career that’s Stuck in Neutral?

Experienced real estate agents know that a career in real estate has many rewards. To a large extent, you make your own hours and the earning potential is high—especially when you’ve nurtured great leads and have closed many successful transactions with happy customers.

However, as with many other careers, sometimes you need to make a change. Over time, motivation can lag and that spark can start to sputter when you’ve been in the same office for a very long time.

If you’re feeling like your real estate sales career has gotten stagnant, it might be time to change offices. And, if you’re working in northern New Jersey on residential sales and rentals, Century 21 Cedarcrest Realty in Caldwell, NJ has a place for you.

Our office is all about excitement and opportunity, working in an upscale market in northern New Jersey. In fact, Century 21 Cedarcrest Realty is a designated Fine Homes & Estates office; wouldn’t like a piece of that action?

Five great reasons to join Century 21 Cedarcrest Realty

  1. As one of our agents, you’ll be part of the vast Century 21 network, with opportunities to work with buyers and sellers from just about anywhere across the country—and around the world.
  2. We’re all about career development, and provide ongoing training in our own training center. Century 21 Cedarcrest Realty offers weekly training classes and provides guidance whenever you need it to help you keep your sales and marketing skills sharp and your customer relationships positive.
  3. No-fee leads – unlike other offices, Century 21 Cedarcrest Realty covers the cost of the lead management system to help maximize your earnings.
  4. Senior management that’s there and that cares. We’re not behind closed doors—we’re available every day for hands-on interactions with our sales associates, always ready to help you build your book of business.

Come rejuvenate your real estate career at Century 21 Cedarcrest Realty. Contact Susan Mazzetta at (973) 225-1050, ext. 126 for a confidential conversation about opportunities for seasoned real estate sales associates … and a future with Century 21 Cedarcrest Realty.

Are you Thinking of Getting into Real Estate? Century 21 Cedarcrest Realty is Hiring New Real Estate Agents!

Becoming a real estate sales professional can be an exciting and lucrative career for the right person – energetic, people-oriented, and with a passion for sales. At Century 21 Cedarcrest Realty, we’re looking for people who are interested in starting a new career in real estate. Experience is not required but a willingness to learn and work hard are definitely traits anyone must have to gain a foothold in this industry.

Benefits of working at Century 21 Cedarcrest Realty

  • You become part of a great team and an international network of real estate offices. Yes, our agents may work with buyers and sellers from just about anywhere.
  • Our corporate culture here is all about support, mentorship, and ongoing professional development.
  • Century 21 is a brand with powerful advertising and high consumer respect.
  • You’ll have access to industry-leading technology for maximum exposure and increased qualified leads.
  • Although we are specialists in Essex County real estate, our busy office represents buyers and sellers from throughout Northern New Jersey.
  • Century 21 Cedarcrest Realty was named 2015 “Best Realtor” by readers of Suburban Essex magazine in its Best of Essex Readers’ Choice Awards—and we’ve been nominated again for the 2016 honor.

We invest in your future with us

Century 21 Cedarcrest Realty also believes investing in the future success of our sales associates. One way we do that is to offer you a $100 discount off the mandatory state pre-licensing course, which prepares you to sit for the New Jersey real estate exam, in order to become a licensed real estate agent.

Then, after you’ve passed the exam and received your license, we provide ongoing expert training, led by seasoned real estate pros who’ve seen and done it all. They’ll teach you our winning sales and customer service techniques that get your foot in more doors with home buyers and sellers.

Upon your first closing with us, we then reimburse new agents for the out-of-pocket expense of the pre-licensing course, up to $275.

All our agents have access to Century 21’s superior real estate marketing, automation and communications systems as well as C21 University, an online resource that offers continuing education programs and a library of valuable assets to help you grow your book of business and refine your customer service skills.

About that training …

We offer weekly in-house training and professional development courses in our nicely appointed training room. These programs are managed by Susan Mazzetta, Century 21 Cedarcrest’s director of career development. Our agents also receive valuable mentorship about marketing their listings, customer relations, and sales techniques from Susan and Dennis DiSabato, our agency’s sales manager.

We have an open-door policy with senior management so that everyone at every level of experience can share challenges and gain valuable support and ideas; this extends not only to Susan, Dennis and broker owner, John Sass but to other team members as well.

Are you our next hire?

We’re looking for people with enthusiasm and motivation, strong interpersonal skills, and a passion for sales, to talk to us about their real estate career. The North Jersey market is hot right now and it’s a great time to get into the business (or build up an existing real estate career).
Prospective agents may upload a resume and get more information at http://century21cedarcrest.com/careers/. For a confidential interview, call Susan Mazzetta, director of career development at (973) 228-1050, ext. 126. We look forward to meeting you and bringing you into the world of real estate in Northern New Jersey!

Creating a Zen Garden for Your New Jersey Backyard

Zen—or dry—gardens date back to the late 14th century, when Zen Buddhist priests created these austere gardens for meditation and appreciation of beauty. These gardens had no water features; the priests created a feeling of water with rocks, even raking them to get a ripple-like appearance.

Zen gardens are appearing in backyards across northern New Jersey as well, taking a cue from Asian traditions by keeping the focus on nature. Homeowners may choose to create these gardens—made primarily of stone and gravel, often enhanced with moss, small plants or shrubs, and rock formations—to avoid having to water; others choose to install these for the quiet contemplation they invite and the serenity they provide. And, they are easy to maintain and are weatherproof. The homeowner needs simply to rake the gravel or sand, in desired designs. The very act of this raking can be in itself a meditation and is meant to be relaxing. Raked designs are often made to look like waves or streams.

Although they appear simple on the surface, Zen gardens have a complexity that is revealed as one takes time to enjoy the space. The homeowner takes an active (albeit, relaxing) role in changing the raked design, then stepping back to contemplate and enjoy it. The carefully groomed sand is meant to provide a refuge from the world.

Today’s Zen gardens may include enhancements such as ponds, bridges, lighting and sculpture but the raked sand and fine gravel are the canvas upon which these sit.

Designing your Zen Garden

This starts by defining the space: a corner of an existing garden, part of your yard or even the whole yard. Do some research or visit other Zen or Asian gardens for ideas about topography and the hardscape (the stone work). Do you want to include water or not? What about lighting?

Whatever you do, think nature—a space with rough edges. Plants are not the main attraction so select a few specimen plants that will enhance the design because of their color or texture. Also consider seasonal changes; in northern New Jersey we experience all four seasons very distinctly and so does plant life.

Then it’s time for your hardscape materials:

  • Stone – the structural basis for your Zen garden. Stepping stones, formations, borders, designs.
  • Pebbles – think river-rounded pebbles of various sizes that will create the fields, surround plants and outline paths.
  • Sand or fine gravel – this is used to create the illusion of water, raked as anything from a dry riverbed to roiling waves and ripples – the choice (and the fun) is all yours.

Other enhancements may include bamboo panels, statues (such as one of Buddha), low lighting (stone or concrete housing blends in best), and a koi fish pond. The plants you choose should offer some texture and color. Your landscaping professional or high-quality garden center should be able to make some smart suggestions.

You can find inspiration and ideas for your Zen garden on Pinterest and there are plenty of sources online or in your public library.

Adding a Zen garden to your New Jersey property will certainly make your home stand out, and will provide you with many tranquil hours enjoying and reconfiguring your creation.

Getting Ready to List Your Home – Steps You Can Take to Add Value for Buyers

Getting your home prepared for a listing with a real estate agency is an exciting time. Of course, your agent will want to be excited about your listing and bring as many qualified prospects as possible. Is your real estate professional providing you with guidance about how to add value to your home? These home maintenance and repair tips will help you increase your chances of a sale more quickly.

De-clutter and organize. No one wants to step through clutter, look in rooms or closets that are overflowing with unnecessary items, or have to imagine what the space could look like without a homeowners personal effects clouding the “scenery.” Before you list your home for sale, start going through all the rooms, from attic to basement, and clean out and organize. You can create piles for discard, donate and store; once you’ve done the first two, it’s time to organize your storage needs. Closet storage systems will help you keep clothes organized and make a great presentation. Garage and basement storage solutions are also available to keep items off the floor and in a safe place.

Refresh rooms with paint. That first impression will be largely influenced by the look and feel of your rooms. After you’ve cleaned and cleared, a fresh coat of paint in neutral colors will help rooms look larger and make prospective buyers feel better about your space. Bright colors might be your style but not theirs so avoid making too much of a “statement” in your color choice.

Update bathroom fixtures. Swap out those tired old bathroom faucets and the old sink; install a new vanity or a shower head; or put on new toilet seats if necessary. You need not spend lots of money to do these simple updates and a little goes a long way. Remember, clean and new is better than tired and worn.

Update kitchen appliances and fixtures. If this is in your budget, it is well worth the expenditure on this end of the sales process. There’s no need for a full remodel but a face lift is well worth it for making a quicker sale. New cabinet doors and hardware or a new sink or new faucet with sprayer (a popular feature) are good investments. If you can swing it and your dishwasher or refrigerator are outdated, consider installing new models that prospective home buyers will appreciate.

Boost your curb appeal. Landscaping and driveway appearance are what prospective home buyers will see first—and will encourage or discourage them about coming inside for a closer look. Get your lawn in shape, plant your garden beds, prune your trees and shrubs. Outdoor lighting is also a benefit, from the front porch to the walkway or gardens. If the driveway is in poor shape, have it repaired.

Make necessary exterior repairs. In addition to the driveway, your front steps should be in good condition; your gutters should be in place and doing their jobs to prevent water damage to the home; missing roof shingles should be replaced; problems with paver or concrete walkways, your sidewalk, patio and deck (where applicable) should be remediated. Remember, you don’t want to give anyone a reason to walk away (and you wouldn’t want anyone to trip and get hurt).

Insulate for energy efficiency. One way to show prospective home buyers that your home is prepared for 21st century living is to add insulation in order to improve your energy efficiency and reduce heating and cooling costs. This is a also good time to look at your windows to see where you can seal any seams or cracks where air penetrates.

At Century 21 Cedarcrest Realty, we guide our clients to make sure their homes are in “ready for sale” condition, in order to make the sales process as stress-free as possible for everyone involved. As part of our client service, our real estate agents will go over what we feel your home needs to prepare it for a listing, and help you hash out the pros and cons of certain upgrades and repairs. Want to find out more about the best way to sell your home in Essex County or other northern New Jersey areas? Call Century 21 Cedarcrest at (973) 228-1050 or visit our website to get started.

2016 Real Estate Market

Home prices are moving up moderately this year, but not to the point of discouraging buyers from a first or second home purchase. In fact, the moderate value increase is – in part – due to a supply vs. demand imbalance in many cities across the United States. With new construction at a 50-year low, there are currently more prospective buyers in the market than there are sellers of existing homes.

 

Interest Rates and Income Growth

 

Some of the demand is due to the prospect of a raise to interest rates in the future. Many looking to lock in at today’s lower rates are not waiting for those changes, even though it is a sign of a growing economic stability. Low to moderate income growth for those in the middle class also is impacting the supply, as many who were able to hold onto their homes amid the financial crisis nearly a decade ago are nervous to sell or are still recovering their equity. Yet unable to use equity to perhaps buy above their original starter home, many are sitting tight on their current homes. These factors have created a somewhat even and steady market, with it leaning slightly to the advantage of the seller.

 

The Rental Cost Impact on the Market

 

Rental prices have increased, with the result having a multispectral effect on real estate. On one hand, the increases in rental prices are a nudge to the renter to take the necessary steps to become a buyer. On the other, it is often more difficult for a prospective buyer to save for a down payment when more of his or her expendable income is going towards maintaining the rent. At the same time, it is a boon for real estate investors and those looking to purchase a second home to rent, rather than sell, the first.

 

The 2016 market certainly isn’t the gloom and doom prophesied by some. While homeownership is still at its lowest in 50 years and new development has also slowed, values are growing and sellers are finding that buyers are making smart, competitive bids on property. These positive trends are expected to continue as the average wage income increases over the next few years.

 

House Flipping: Is It for You?

Maybe you’ve heard of house flipping or seen it on TV. It’s really grown as a method of making money and there are even reality TV shows about it. So how do you know if house flipping is for you? Really, no one else can make that decision except for you. You’re the only person who knows if you can afford it, if you can risk it, and if you will enjoy it.

Here are some situations where house flipping may not be right for you:

  • You don’t have the money – It takes money to invest in real estate and if you can’t afford it, you don’t want to risk it right now. Flipping houses can pay off big but you might also lose in some of your investments and if you don’t have the money to take the risk, you shouldn’t do it.
  • You don’t have the time – Flipping houses is going to take time. To really do this successfully, you’re going to need to invest time. You need to research houses, watch the market for quick sales and auctions and good deals, invest time in doing appraisals and also in putting time and money into fixing up the home. Then, you’re also going to need to invest time in reselling it. So if you don’t have the time, this is not for you.
  • You don’t have the knowledge – If you don’t know anything about real estate, the value of properties and the current market, this might not be right for you. If you don’t have the industry knowledge, you’re not going to know how to find good deals and make profits.

Here are some things that may make house flipping good for you:

  • Have a support network – If you have a good network of friends, family members and associates that can help you, this puts you in a good position for doing something like house flipping.
  • Have a feel for DIY and handyman stuff – If you enjoy DIY and other handyman work, you might enjoy house flipping because you can do a lot of this work hands-on for yourself. If you’re interested in it and passionate about it, then this could be a great choice for you.
  • Experience in real estate – If you already have experience in real estate, you’re going to have the upper hand in the world of house flipping.

With these ideas in mind, you can decide if house flipping is the right choice for you. If you have the money to invest and the time and you enjoy it, this can be a great part-time job or even a full time career for you.

How to Deal with Buyer’s Remorse in Real Estate

How to Deal with Buyer’s Remorse in Real Estate

 

Buyer’s remorse is not uncommon at all. Buying a house is a major decision and every person who has the mindset of an adult is going to question major decisions they make. They have fears concerning their finances and future, and that’s actually healthy. It prevents them from making decisions on the fly and considering all of the angles rather than making decisions based on things that aren’t really important. As a realtor, it’s your job to let them know how common this is and walk them through a few steps that will help them make the right decision in the end.

 

Explain Commonalities

 

Sometimes people need to know they aren’t alone. You can explain to the buyer that many people experience this same feeling. You might even relate this situation to a decision about getting married, though you might want to avoid this route if they are recently divorced. Explain that any life decision this big is bound to cause a bit of anxiety. That doesn’t mean that they are making a bad decision.

 

Go Back in Time

 

Talk about why they chose this house to begin with. Point out that those things still exist. If there are elements about the house that they don’t like, address how those might be dealt with. For example, if they don’t like the fact that there are stairs in a house, you can discuss how this is a commitment and a great buy, but that in the future, when the kids are grown and moved out, they might actually make a profit off the house when they sell it and buy something smaller with only one floor. Just be sure to return the focus to the things that they loved about the house and which caused them to claim it as their own.

 

Discuss Options

 

The buyer might still have the option of backing out. Talk with them about what might happen if they do back out and what they would look for in the next house. If possible, reveal some of the ways they might incorporate those elements into the house they are set to buy right now.

 

Sometimes it helps to write things out, so you might sit down with the client and list the pros and cons as they see it. Make a special note in any areas where the cons are going to be the same in any house they choose. Encourage them to take the list home and consider it before making any kind of decision to back out of their existing real estate transaction. Sometimes they just need a bit of time to calm themselves down and see all the potential that their new house has.