On the Market for a Home? Here are Five Considerations Before You Buy.

Are you a first-time home buyer? If so, here are five issues into consideration as you engage in your house hunt. Doing so will help avoid surprises that could bog down your transaction.

Is now the right time for you to buy?

This depends somewhat on your career situation. According to the Bureau of Labor Statistics, the median tenure of workers of ages 55 to 64 is 10.1 years, while for workers ages 25 to 34, it is only 2.8 years on average. If a distant job relocation is in the foreseeable future or career advancement is likely to take you out of the area, consider remaining a renter for now. Conventional wisdom is that you need to stay in the home for at least five years in order to recoup the amount of money you spent to purchase it.

Identify your housing criteria

Do you have a “dream home” in mind? Are you willing to modify your dream? After all, no house is totally perfect. We suggest you:

  • Create a list of absolute musts and reasons why—such as the town (for the school district, town services, property tax rate, environment), style and size of house, proximity to work, public transportation, etc.
  • Be flexible. Cosmetic updates may be needed in an otherwise great house so don’t let those deter you. If you like a house that needs a lot of work but has great bones, ask if the selling price is negotiable enough to make a reasonable offer.

What can you afford—including closing costs?

Set yourself up for success by first developing a budget that includes how much down payment and monthly mortgage payments you can afford. Then, look at the closing fees you’ll have to cover at time of loan settlement. These are fees paid to various third parties as part of expediting and closing the transaction.

As the home buyer, you are expected to cover most of those closing costs (3-4% of the home’s price) compared to what the seller will. Included are:

  • Title company closing fee for the representative who supervises the title transfer
  • Title search – this ensures there are no liens on the property to prevent you from buying it
  • Lender’s title insurance – protects the mortgage lender if something was overlooked in the title search
  • Document recording fees (deed and mortgage)
  • Loan origination fee – paperwork processing
  • Home appraisal
  • Home inspection
  • Survey fee (single-family homes, townhomes)
  • Escrow deposit – usually covers two months of prepaid property taxes and mortgage insurance payments
  • Taxes on money you borrowed for your home loan
  • Discount/mortgage points – paid to your lender in exchange for a lower interest rate, which has great long-term value
  • PMI, or private mortgage insurance, if you put down less than 20 percent of the purchase price
  • Other fees include running your credit report, underwriting and assessing your creditworthiness, wire/courier fees, attorney fees, and real estate agent commission

Federal law mandates that mortgage lenders provide borrowers with a loan estimate form in advance of the closing, denoting all the approximate closing costs. You may opt to roll the closing costs into the mortgage, but you’ll be paying interest on that amount for the life of the loan.

NOTE: If buying a condominium, get as much information as you can about the homeowners association fees/common area charges, the regulations regarding home improvements in your unit, and the association’s track record on maintenance and repairs.

Check your credit report

As noted above, the lender will be doing so and so should you. Contact Equifax, Experian and/or TransUnion for your free annual report. You want your credit score (FICO score) to be high enough to qualify you for a favorable rate. Clean up any outdated or incorrect information you find on the report right away. Scores in the 750-850 range are considered excellent, 700-749 is good. Anything below 650 is considered poor, making you a credit risk in lenders’ eyes.

Work with CENTURY 21 Cedarcrest Realty

Searching for a home—whether as a first-time buyer or a seasoned residential real estate owner—is exciting but with all the details, it can be bit daunting and time-consuming. At CENTURY 21 Cedarcrest, our real estate professionals are dedicated to producing the best outcomes for every customer. When you work with our team, you’ll be with people who work tirelessly to help you navigate your real estate experience—with enthusiasm, confidence, and a passion for superior service—all backed by the industry-leading CENTURY 21® system and tools.

Contact us to get started on your journey to home ownership, or to find your next great home. We’re specialists in Essex County and Passaic County, NJ, and represent buyers and sellers from municipalities throughout North Jersey.

Agent spotlight on . . . Chris Malatesta

Chris has been working in real estate for over 22 years, after a successful career in home construction. So how did he go from installing siding, windows and roofing to helping people buy and sell their homes?

“My mother used to work at a real estate agency and the broker suggested I get my real estate license,” explained Chris. “I took his advice and never looked back.” Since that time, Chris has worked primarily in Passaic Valley area—Totowa, Little Falls, and Woodland Park.

Before joining CENTURY 21 Cedarcrest, Chris, who lives in Totowa, worked at several independent and national real estate offices in Passaic County, handling mostly residential transactions. When we opened CENTURY 21 Cedarcrest Realty, Little Falls, he joined our team there.

“I already knew broker owner John Sass, so I knew I’d be joining a strong outfit,” said Chris. “Plus, it was very appealing to come into a new office with Cedarcrest’s expansion in Passaic County.”

He was also attracted to the breadth of training classes CENTURY 21 Cedarcrest provides, for sales associates at all levels of experience. “They offer so much professional development there, with seminars about sales techniques and real estate technology, classes to work towards different designations . . . there’s so much available. Plus CENTURY 21 has some great online tools that make it so much easier now to manage our pipeline and transaction process,” he added.

Although Chris enjoys helping his clients realize the lifestyle they aspire to through the home buying process, he also enjoys the challenges that the real estate field brings to him as a sales associate. If a client asks about something he doesn’t typically run across, he simply gets it handled.

“I’ll research the issue and tap my network for the right pros to get the job done. After more than 20 years in real estate, I know that a key to success in this business is to never disappoint your clients, and do whatever it takes to ensure a smooth transaction.”

We certainly agree with that credo at CENTURY 21 Cedarcrest Realty!

Happy 10th Anniversary to Us! Century 21 Cedarcrest Realty Celebrates Ten Years of Consistent Growth and Superior Service

In June 2009, John Sass became broker/owner of CENTURY 21 Cedarcrest Realty, Inc. at its Caldwell office. John and the team are celebrating the agency’s tenth anniversary this month, marking the milestone with pride, a shelf full of regional and national real estate industry awards, and a second office in Little Falls to better serve home buyers and sellers as well as commercial clients throughout North Jersey.

Prior to taking ownership of Cedarcrest Realty, John had worked in other CENTURY 21 offices in recruiting and training—a major driver in the agency’s professional development program for real estate agents at all experience levels. All agents receive training in sales and customer care, the transaction process, contracts, and using the digital marketing tools provided by CENTURY 21 Real Estate most effectively to their clients’ advantage.

The company, which started with six people in 2009, has grown 15-fold to over 80 real estate agents today—some among the region’s highest producers—plus a director of career development and two sales managers. Here’s a look at some of our achievements over the past decade:

Ten years of growth and recognition

  • Grew sales volume by 500%, from $20 million in 2009 to $110 million today
  • Multiple awards for sales volume, gross closed commissions and customer service:
    • CENTURY 21 Quality Service Pinnacle Award every year since 2010, based on a high level of customer satisfaction
    • CENTURY 21 Gold Medallion Office Award for production, 2012-2017
    • CENTURY 21 CENTURION® Award for superior production, 2018
    • CENTURY 21 President’s Award, 2018 – the most prestigious award given by the system to producers, teams and offices that achieve both CENTURION® level production and the Quality Service Pinnacle Award in the same year
    • Gold medal as “Best Realtor” in the Suburban Essex magazine’s Best of Essex Readers’ Choice Awards, 2015-2018
    • Numerous New Jersey REALTORS® Circle of Excellence awards for sales
  • Added Fine Homes & Estates division in 2015
  • Designated by CENTURY 21 Real Estate as a certified commercial specialist in 2018
  • Opened second office at 44 Main Street in Little Falls in March 2019
  • Top donation site for 10 years in a row for the U.S. Marines Toys for Tots holiday gift program in addition to supporting Easter Seals, NJ Special Olympics and area charities that aid the local community

“I’ve always cultivated a family feeling that values teamwork, which translates into better customer service out in the field,” said John as he looks toward the future. “We are well-positioned to continue our forward trajectory as we strive to always deliver—in the words of CENTURY 21 Real Estate—relentless service and commitment, and a superior experience for everyone involved.”

Working with Millennial First-Time Home Buyers

With most first-time home buyers falling within the millennial age range (those born between 1981 and 1996, ages 23 to 38 this year), real estate professionals might be interested in findings revealed in a recent Chase Home Lending survey. The survey was done among 1000 millennials about home ownership.

It turns out that they making smart financial decisions and saving money to make home ownership a reality. In fact, responses point to millennials being hyper-focused on the home buying journey. More than two-thirds of respondents said they want to talk about the process and about real estate topics, such as affordability and neighborhoods, with their friends.

Some other key findings include:

  • Seventy percent say they are willing to cut back on weekend activities in order to buy a home within the next 12 months – they are curtailing their shopping, dining out, movie-going and spa visits among their expense reduction tactics
  • Women are slightly more open to this idea than men
  • Fifty-two percent of first-time home buyers feel financially ready now
  • Many are optimistic about the home buying process
  • Seventy-one percent of women are willing to discuss real estate topics with friends while over 50 percent of men are comfortable talking about these on social media

Our takeaways at Century 21 Cedarcrest

1 – Real estate agents who provide an excellent transaction process with millennial homebuyers are likely to receive more referrals. After all, if these buyers are talking to their peers about the home buying journey, they are more likely to refer those agents with whom they are having a positive experience. This group values peer opinions; make sure you’re part of that.
2 – Members of this demographic are serious about positioning themselves for home ownership; and they want to learn more about becoming home owners. Whatever information or guidance you can provide will be a positive part of the transaction and help position you, as their real estate agent, as a trusted resource worth their referrals.
3 – If improving their credit score is an issue they are working on, or if they want to better understand home mortgages, look at your network to see who you can refer to help these home buyers make their dream of ownership a reality.
4 – With more than half of millennial first-time home buyers stating they feel financially ready to purchase a home, help them keep up the anticipation and excitement with relentlessly excellent service.

At Century 21 Cedarcrest Realty, we pride ourselves on making the process as smooth as possible for first-time home buyers. We understand you’ll have lots of questions and our team has the answers—and the listings that meet your criteria, from neighborhoods to school systems to town services and more. Whether it’s a condominium, townhouse, or single-family home, contact Century 21 Cedarcrest about what you’re looking for.

Is a Winter Season Home Sale the Right Time for You?

Photo by Emil Vilsek on Unsplash

Even in northern New Jersey, which has a healthy real estate market, it’s hard to know whether or not seasons play in the home sale cycle. With the cold temperatures and inevitable snow and ice, many homeowners—and home buyers—may feel it’s better to wait until spring.

Not so fast!

There are actually strong reasons to put your home on the market now. The common belief is that the spring market—when birds are chirping and gardens are blooming—is the best time to buy and sell real estate but here are some good reasons to put your house on the market in the late fall or winter.

  1. You attract more serious buyers. Really—these people are on the hunt and want a house now. Motivated buyers, for whatever their reason, are always searching for the right home in the right town for them. The winter months also gives these buyers a chance to scope out potential neighborhoods when other things are going on besides landscaping and swimming pools. They may love or abhor lots of holiday lights, for example, and want to see what goes on around the block during December and January (or even February for Valentine’s Day and March for St. Patrick’s Day). Or they may have concerns about whether the neighbors are keeping sidewalks clear of snow and ice (and whether the town snowplows are doing a good job).
  2. Wintertime staging possibilities. A well-staged home attracts buyers and offers, and winter greenery, cozy throws and blankets, and the aroma of pumpkin spice can be very alluring.
  3. Competition is lighter. It’s all about supply and demand. With less “for sale” signs around town, yours will catch attention and yield calls to the real estate agency to see the house. Fewer homes on the market drives up buyer demand, increases the probability of showings and with those, strong offers.
  4. Speedier transactions (and less stress). Think of the real estate market as a highway; with fewer “cars” in the buying lane, there are no processing traffic jams for all parties involved and transactions can move along more quickly. Mortgage lenders have fewer loans to process, real estate attorneys are dealing with a lighter closing load, and home inspectors are more available.
  5. Your real estate agent is always ready! Good real estate agents know that any time of year is a good time to list a home and bring buyers around. Marketing tactics may shift with the seasons and these professionals are ready with tips to help sell your home at any time of year.

If you’re thinking of putting your home up for sale now, or are looking for a home in Essex County or throughout northern New Jersey, the real estate agents at CENTURY 21 Cedarcrest Realty are ready to help. Contact us at (973) 228-1050 to get started.

Looking for a Job as a Real Estate Agent?

Here’s What We Look for in a Candidate at Century 21 Cedarcrest Realty


ID 122235067 © Pattanaphong Khuankaew | Dreamstime.com

All employers want to hire people with a passion for their work . . . and so many job candidates say they went into their field because of that passion. But what does that really mean? At Century 21 Cedarcrest Realty, we dig deeper to find out what makes candidates tick when we are interviewing real estate agents for our Caldwell, NJ office.

  1. What drives the person?

    How is that true passion for real estate sales expressed? What is that person’s “why?” Are they motivated by the need to support a family or to create a better life for themselves? Are they driven to help others get a piece of the American dream? Can they actually tell us?

  2. Does the candidate truly understand what the job entails?

    Although real estate is a “people person” occupation, it is foremost about sales. Therefore, the agents who come through our doors must demonstrate that they truly understand what the job entails—and be excited about it. Getting your real estate license is a first step but far from the last one any successful agent will take. We look for people who take the job seriously, who are open-minded about getting sales and marketing direction, and who want to continue their real estate education beyond the licensing course and exam. Continuing education—whether about sales techniques, real estate trends, or the latest technology tools—is a given at Century 21 Cedarcrest Realty.

  3. Is the candidate a business person?

    Real estate is a business. Each agent is responsible for building his or her book of business, cultivating leads, nurturing clients along the transaction process; the brokerage is responsible for providing the tools and support.

    Prospective agents must understand that, as with any other business, there is an investment involved in maintaining and growing it. Licensing fees, dues to the New Jersey Board of Realtors (or local boards), insurance coverage (errors & omissions) are part of the investment agents make as they develop their sales pipeline. They invest in the time it takes to bring a transaction to a closing. And they must invest in training and education, vital to growing their business.

  4. Does the agent have integrity?

    Real estate is a field with intense interpersonal activity and a lot of paperwork; there are listings and showings, contracts to draw up and sign, and people’s futures are on the line. Transparency about each transaction is a must; there’s never a reason to lie about an offer, a buyer, or a seller. Never.

Some other “can-do” elements we look for when hiring real estate agents are:

  • Past success in door-to-door/outside sales (such as pharmaceutical or medical sales) or multi-level marketing are strong indicators that the person is a good fit for real estate sales.
  • Prior sales positions that required strong follow-through, attention to detail, and customer service, such as insurance or retail.
  • Those who understand real estate’s longer sales cycle and the pace of closings and commission payments (and therefore, understand the need to always feed the sales pipeline).
  • Individuals who are highly disciplined and organized, but like the flexibility a real estate career offers, especially as a second career; younger retirees, military veterans, and first responders are among those we’re interested in talking to at Century 21 Cedarcrest Realty.
  • People who are involved in their community and have a wide network to tap—and know how to network effectively.
  • Team-oriented individuals who are willing to give help and accept it, try new techniques or technologies, and support others in the office as needed. Our office is a family atmosphere that values collaboration and cooperative efforts.

Are you nearing retirement but would like to pursue a new career that fits with your lifestyle? Have you completed your military service and want to continue helping others through your work? Have you had your fill of a large sales territory, and prefer to focus your sales efforts on Essex County or surrounding areas? Contact Susan Mazzetta, Century 21 Cedarcrest Realty’s director of career development, at 973-228-1050 to arrange an interview.

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.