The beginning of last century saw an industrial renaissance that brought more than 250 companies to Hoboken, companies that were major industrial giants. As the 19th century became the 20th, Hoboken was
Read more
Pre-qualifying Focuses Your Search and Saves TimeSellers today really don't want to accept an offer unless they can be assured the buyers can qualify for a mortgage and pay the closing costs. It's easy
Read more
Savvy investors are always the first to jump in a potentially profitable housing market and a new survey indicates things are heating up.More than 12 percent of homebuyers today plan to purchase a home
Read more
Some homeowners have a long laundry list of to-do repairs and, interestingly enough, many of those items don't get addressed until (or if at all) it's time to sell the house. In hot real estate markets,
Read more
Looking for a new home can be exciting and frustrating. You can help alleviate the frustration by paying close attention to five key areas of the homes you're considering buying; it may save you money
Read more
Selling a house on a busy street requires a determined effort from the home seller and the Realtor to emphasize the many positive aspects of the home. Well-maintained handsom yard with loads of curb appeal
Read more
Did you sign a Tenants agency agreement?
I just had a client who hired me via a Tenants agency agreement because he was looking for something under $1,000 in Hoboken. He was willing to rent a room in someone's house but didn't know anyone in town. By signing the agreement, I was willing to go out to my newsletter subscriber base and all those that I know who have larger units/homes in town and asked if they could rent him a room even if it were short term. I would not fatigue my list without an agreement upfront on my commission. After all, it's not like these folks were offering a place to rent and could not be expected to pay a commission when they weren't even advertising it. Whenever I solicit my base there are always a chance they could opt out. Losing people on my list, prevents me from engaging them on something else.
I found him a room in someone else's home twice in less than one year and it worked out really well for him. He just graduated and was working long hours in the city but really could not afford more than $1000. He established some savings and figure out how much overtime he could count on.
He signed a Tenant's agency agreement again but this time he was looking for an apartment to rent on a regular lease for 12 months less than $1300. In Hoboken that's rare. I showed him something very tiny in the back for 1297 that I found through my network ie not listed and got the representing agent to agree to give me have of one month's fee so my client only had to pay one month total. My client didn't like it. He thought the place was too small. I showed him other units available in JC Heights - beautiful apartment but he understood after seeing the area why Hoboken demands the rents that it does.
I eventually found him something on Craig's List that was not offering a commission to cooperating brokers but required a fee of one month to the listing agent.
Because we had a valid Tenant's agent agreement, if he wanted the apartment, he had to pay me and the agent who represented the landlords.
My fee was justified not just because we had a binding agreement but IMO I earned it because I helped him understand the market by taking him to those other places. I had worked with him before and he knew he could trust me. I was also going to make sure he got a fair deal in his lease.
The landlord wanted to use his own lease. But when I told them that as a Tenant's agent, I had a responsibility to review the lease for my client as his representative, they allowed me to use the standard NJAR lease. What was in their lease that they did not want me or my client to see??
I feel that I added value. I showed him a number of properties in various areas and helped him to understand the differences in neighborhoods. I also helped to make sure he had a fair agreement with the landlord.
My client paid two fees - one to me and one to the listing agent that did total more than one months rent but I feel that my client got the help that he needed.
It is legal for a Tenant to pay two fees to two different agents.
What's not legal is the same agent earning two commissions for the same sale. For example, if the owner is offering a commission to cooperating brokers and a cooperating broker has a buyer's agency agreement with a client that he/she brings to that transaction, he has to accept one offer of commission or the other. Either he is paid by the owner or he is paid under the buyer's agency agreement but he cannot accept both. The higher of the two pay outs is what he is allowed to take.
Hope that helps... more
April 1st Filing Deadline to Appeal Your Property Taxes . . .Want to appeal your taxes on your own and all you need are the right comparables sales? The deadline for filing is April 1st ie the paperwork
Read more
Courtesy of Business Week, by MARTIN CRUTSINGERWASHINGTONAmericans are feeling confident enough in the economy to go back to a time-honored tradition -- taking on a little extra debt.Consumer borrowing
Read more
Photo GalleryPowered by vFlyer.comEqual Housing OpportunityVFLYER ID: 58859001All information in this site is deemed reliable but is not guaranteed and is subject to changeThis furnished rental will be
Read more
Here is a brief video that shows you just how much staging can make a difference. Instead of seeing a dimly lit room or worse, clutter, they see how the room can be set up once they move in.Information
Read more
It’s that time of year again, when researchers at the Pantone Color Institute released the 2012 Color of the Year. After analyzing the emerging trends from the home, fashion, sports and entertainment
Read more
Hudson Tea was an Industrial to Residential conversion and is exempt from Hoboken's Rent Control OrdinanceClick to enlargeIn Hoboken rent control effects every rental except in certain cases....In
Read more
When I relocated to nj I was working in west orange, nice town but I headed south to Barnegat nj and could not be happier! Great schools with a new high school, beautiful new rail/trail, taxes are low and great houses!!! Look at thIs one the end of a street for only 299,999! Low taxes 4 bedrooms. http://www.century21.com/property/125-georgetown-barnegat-nj-08005-C2137220344?k=1... more
Many of my readers have asked me about the mortgage process and what they can expect. As part of my banking career, I spent 6 years in Chase's Mortgage Division Among other roles I worked as a loan officer
Read more
Many of my readers have asked me about the mortgage process and what they can expect. As part of my banking career, I spent 6 years in Chase's Mortgage Division Among other roles I worked as a loan officer
Read more
The city presented its latest conceptual design for the soccer field at 1600 Park to about 60 interested citizens, officials and stakeholders in the basement of City Hall on Monday night. The field—originally
Read more
This article appears today in USA Today. Various states have sued the largest mortgage originators: Chase, Citi, Bank of America, Wells and Ally. The settlement will allow homeowners who were given mortgages
Read more
Growing up in the 'burbs', the daughter of Italian parents we always had a vegetable garden. We had string beans, eggplant, tomatoes of course, squash, pumpkin, strawberries and more. There really
Read more
Courtesy of the Northeast Real Estate Business. ...By Jaime LackeyMost brokers, developers and lenders expect business activity to increase in 2012 compared to 2011, according to a survey of more than
Read more