All Forum Posts by: Maria Afsharian

As a realtor, based in northern NJ - Essex, Passaic, Morris counties. I would say to also look at Paterson in Passaic County, which has a larger percentage of renter vs owner-occupied properties with a high volume of multi-family homes. In terms of Newark, I am familiar with the area near Branch Brook Park, which does very well but you may run into rehabs, pre-foreclosures, and short sales. 

I am with EXP now in Montclair. I like it but miss the office sometimes and being with other agents face to face. I received outstanding training from Prominent Properties Sotheby's - but unfortunately, because they are so strict on branding I decided to move. EXP is very hands-off but has lots and lots of educational opportunities. But I would go to a traditional brokerage vs a virtual one, as a new agent. My opinion. My only advice, put you blinders on, don't get caught up in any subscriptions, gimmicks, or shiny things. Focus on your systems, focus on your systems, focus on your systems = CRM, Sphere of Influence, Scripts, Forms, Follow Up. 

There are many. Most are found through Meetup.com and Eventbrite. Search both for keywords that will find those clubs. There also online and in person events. Kyle Jasey, a hard money lender, has free meetups in West Orange https://www.meetup.com/NJ-Flip...

Hi Rebecca, To me, your question is a bit broad. I am in NJ. I don't work with wholesalers but from a real estate point of view. 

If you are buying something...do you know how much house you qualify to buy? Have you connected with a lender? I have one if you need one.

Is there a particular reason you want to be in Bergen County? Passaic, Essex, Morris, Hudson, Union, and even Monmouth could be options as we have a great transportation system in NJ. 

Do you want to live in the property you purchase? 

Do you work in NYC? If so, how would you commute there? Bus, Train, car?

What type of lifestyle are you looking for. Nature, urban, suburban, the beach etc. 

As a real estate agent. I commend you for thinking about how this situation would affect the agent.  Please keep us posted. I learn from these posts as well. 

By the way Joe. In my experience, you will get A LOT of phone calls from MANY appealing services like Zillow, coaching services, and other lead sources trying to sell you subscriptions and things. I highly recommend you politely say no to ALL of these things. 

All I needed to do was free, 

SET UP MY SYSTEMS that are repeatable 

a) Create and use my daily schedule

b) Get documents in order using (google drive) and or Trello

c) Practice free scripts available online to use when talking to buyers and sellers 

d) Put together my listing presentations for buyers and sellers - digital or paper

e) Learn and use my CRM - paper or digital

f) Start with my sphere of influence, friends, families, etc. 

g) Volunteer for open houses, charity events, networking to build my database

h) Work with your broker to set up a business plan

i) Know how to do a competitive market analysis  

READ the books offered to realtors on Bigger Pockets written by real estate agents 

Whatever you do, stick to the basics that are usually free...don't go to too many trainings..focus on your basics...then later get any of those services you turned down earlier if you need them. 

Hi Joe. I am in Essex County, Northern NJ 

My costs depend on the brokerage. For example, I am grateful that I started out with Prominent Properties Sotheby's as they provided the for sale signs, stakes, open house signs, business cards, and lockboxes free. I also highly recommend them as a great place to start as a new agent, they have great training and high standards I continue to carry with me. My challenge was that I wanted to do more creative stuff with my work, which was limited under a brand like Sotheby's or I would still be there! 

But when I moved to Keller Williams and now Exp Realty I had to buy all my own signs, lockboxes, etc. $$$$

SOME COSTS

Yearly -------------------------

NJMLS & GSMLS Memberships = $300/year 

Board of Realtors - $450/year

Investments -----

Lockboxes for NJMLS and GSMLS = $130/each to own

For Sell, For Rent signs = $500

Directional signs for Open Houses = $200

Marketing --------------------

Presentation Folders = varies

Mailers = varies

Prospecting Subscriptions = varies

Business cards = varies

Advertising = varies 

Expenses ----------------------

Auto = varies

Gas = varies

Tolls = varies

Postage = varies

Lunch & Coffee = varies

Closing gifts = varies

Monthly ----------------------

Supra Key subscription to open lockboxes via my phone = $14.99/month
Exp Realty Monthly charge which includes KvCore CRM = $95/month

I am very sorry this happened to you. I am wondering if you had a real estate agent represent your side of the transaction? And if you used an inspector, and if so, were they chosen by you, or did the agent recommend them? 

If you didn't use your own agent. Please do. Many buyers and investors don't use an experienced real estate agent to cut costs, when usually as the buyer you don't pay for the agent's services, rather the seller does at closing. Hope this is helpful for your next purchase. 

I am not a lawyer, and this is not legal advice, but I studied this information recently while getting my real estate broker's license. According to the National Association of Realtors- https://www.nar.realtor/ (Which, not all real estate agents are members of), there is a strict Code of Ethics you can read on their website. 

Articles 1-9 address "Duties to Clients and Customers". Specifically, Article 2 relates to DISCLOSURE. Here you may want to contact the local Board of Realtors to file a complaint and ALSO file a complaint with your state's real estate commission. From what I understand, both encourage parties to mediate vs court cases. 

Please note, based on my experience, most general home inspectors do a basic home inspection and will check, identify, document, and make recommendations if needed for other specific inspections. I always suggest additional inspections regardless for my home buyers - in addition to the general inspector - before a deal is closed. This can include inspectors for pools, environmental, sewer lines, underground oil tanks (In NJ), electric, pest, or foundation. 

Hope this is helpful to you somehow.   

This is great! 

Congratulations on taking the initiative to do so. We also have a shortage of good multi-family property management companies in Northern NJ, that are usually owner-occupied. 

I'm not sure if it's the same where you are. 

The multifamilies are usually too small for many companies to take on, but are much needed. 

Also, if you run across any vacant property owners who want to sell in NJ please let me know! Be happy to help. 

@KimRosinski that's tough about the lawyer being involved. I have seen some lawyers tell owners to stay in their homes. Sellers have also told me that lawyers tell them that their credit is ruined anyway-no need to move yet. 

I don't mean to be skeptical but not sure what that advice is based on except, possibly expanding the time frame in which an owner can pay off a lien that could result in a foreclosure OR paying attorney fees until the foreclosure. 

If they inherited the home, there are likely emotional bonds they have with the property.  Good luck trying to convince her that there's a better way than going the attorney route. I would put her in the category of a long-term campaign. Let her know your offer and touch base every month. 

If she is a friend...she may not want you to know what the lien is for personal reasons. 

In terms of debts, I agree with @JoeHammel - A title company is the best resource to check on all liens which could be contractor, IRS, bankruptcy, local utility bills or property tax, child support, etc.