New Jersey Realtor®—March April 2020

NEW JERSEY

REALTOR

®

March/April 2020: VOLUME 6 ISSUE 2

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NEW JERSEY REALTOR® A publication of New Jersey Realtors®

10 Hamilton Avenue Trenton, NJ 08611 Phone: 609-341-7100 njrealtor.com

14

Jarrod C. Grasso, RCE Chief Executive Officer PUBLIC RELATIONS AND MARKETING DEPARTMENT Colleen King Oliver Director of Public Relations &

Marketing | editor@njrealtor.com

Erin McFeeters

Dana Fiori

Communications Coordinator

CONTENTS March/April 2020

Content Coordinator

2

President's View: Grow Your Real Estate Community

3

CEO's Desk: Long Term Plans for Video Content

2020 OFFICERS Angela Sicoli

President

Jeffrey Jones

President-Elect

Robert White

First Vice President

Kathleen Morin

Treasurer

ADVERTISING SALES Laura Lemos | 973-822-9274 laura@boja.com DESIGN Rebecca Ryan McQuigg | Encompass Media Group rebecca@encompasspubs.com

New Jersey Realtors® provides legal and legislative updates as well as information on a variety of real estate related topics solely for the use of its members.

Due to the wide range of issues affecting its members, NJ Realtors® publishes information concerning those

5

Important Dates & Deadlines

6

Legislative Update: The Start of the 219th Legislative Session

issues that NJ Realtors®, in its sole discretion, deems the most important for its members.

The content and accuracy of all articles and/or advertisements by persons not employed by or agents of NJ Realtor® are the sole responsibility of

11

Managing Your Online Reputation

their author. NJ Realtors® disclaims any liability or

14

How to Become a Neighborhood Resource

16

Town Spotlight: Hope Township

18

How Coaching Can Help You and Your Bottom Line

23

Making the Transition From Agent to Broker

26

Talking Cultural Diversity

28

Local Board/Association News

responsibility for their content or accuracy. Where such articles and/or advertisements contain legal advice or standards, NJ Realtors® recommends that NJ Realtors® seek legal counsel with regard to any

Sudoku puzzle solution:

specific situation to which they may seek to apply the article.

New

Jersey

Realtor ® ,

publication

number

13260. Published bi-monthly each year. Member subscriptions allocated annually from annual dues: $3. Non-member annual subscription: $10. Known office of publication: 10 Hamilton Avenue, Trenton, NJ 08611. Periodicals postage paid at Trenton, NJ 08611 and at additional mailing offices.

POSTMASTER: Send address change to Editor, 10 Hamilton Avenue, Trenton, NJ 08611.

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NEW JERSEY REALTOR® | March/April 2020 | 1

PRESIDENT'S VIEW

Grow Your Real Estate Community

BY ANGELA SICOLI

R

eal estate is a career based in community. It’s not the type of profession that can be done in solitude.

Sure, there are parts of the job that require head-down, solo effort, but the real work often presents itself as curating the community around you—colleagues, prospects, clients, competitors, mentors, mentees, and much more.

Your community is who surrounds you. So, who have you chosen? What and who are you involved with? If the answer doesn’t come to you immediately, let me offer some suggestions on how you can enrich your business outside the normal parameters of work.

Your Realtor® Association You’re reading this column, so you’re already halfway there. Do you have a skillset or passion outside of real estate? Volunteer on a local, state, or national association committees. There are dozens and the specialties that range from community service to legislative and most are always looking for new faces to join the ranks.

Your Community There’s an article in this edition on page 14 titled “How to Become a Neighborhood Resource.” It’s a good introduction on how being a true part of the communities you serve can lead to better business through authentic service. Volunteer for organizations that speak to your heart and give your time to places that matter to you.

2 | NEW JERSEY REALTOR® | March/April 2020

Be a Mentor If you’re an experienced pro, it’s time to share that knowledge. When you have reached a level of success, it’s important to turn around and help those behind you.

And if you’re brand new to the business, don’t be afraid to ask for guidance. You’re not supposed to know everything on your first day. Ask questions, be bold in your goals, and work hard.

When you realize that the incredible career you’ve chosen in real estate extends far beyond the confines of a contract, you’ll be able to grow yourself and your business in ways you never thought possible.

FROM THE CEO'S DESK

Long Term Plans for Video Content I

n the consumer and business world outside of the association sphere, video marketing has become more popular than ever. The ROI and conversation rates for this type of communication far surpass so-called “traditional” methods. So last year, we decided it was time to get on board.

As you may recall we built out a custom video studio in early 2019 and worked through the remainder of the year to start pushing for more video content. Well now a new decade is here and so is a new format. Myself and our Director of Public Relations & Marketing Colleen King Oliver will be anchoring our Month in Review newscasts with interviews from key guests throughout the year.

By having the studio in our headquarters we’re able to plan for long-term video content as well as accommodate immediate needs of important broadcasts, such as a Call for Action.

We’ve also opened up the studio for our local board and associations to use it quarterly for their own video needs.

Several boards have already used it and we hope you’ve seen their broadcasts as well.

It’s important for us to convey messages to our members that affect their businesses and we’ll keep trying to reach you all in any way possible — magazine, email, social media, events, and video. We know you’re busy and the amount of information you are inundated with day-in and day-out is overwhelming so we promise to only bring you relevant, useful, and important information and updates.

Please take a look, subscribe to our Youtube channel so you’ll be updated of new videos (youtube.com/NJRealtors), and stay tuned.

NEW JERSEY REALTOR® | March/April 2020 | 3

Ace your social media game in the new decade with New Jersey Realtors®

2020 Social Media Guide

FOR REALTORS® Read now at issuu.com/newjerseyrealtor

4 | NEW JERSEY REALTOR® | March/April 2020

I M P O R TA N T D AT E S & D E A D L I N E S

MARCH

APRIL

Saving 8 Daylight Time Starts

17 St. Patrick’s Day

MAY

10

April is Fair Housing Month

of Directors 7 Board 11-16 Meeting Realtors Office 10 NJ Closed — Good ®

Friday

15

25

Tax Day

JUNE

Mother’s Day

2 Executive Committee Meeting

National Association of Realtors® Legislative Meetings & Trade Expo

of Directors 2 Board Meeting

New Jersey Realtor® Office Closed — Memorial Day

21 Father’s Day

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L E G I S L AT I V E U P D AT E

The Start of the 219th Legislative Session T

he New Jersey Legislature began a new two-year session in January. This follows the 2019 elections which saw the Assembly at the top of the ticket. New Jersey is unique in comparison to other states because it holds what are referred to as “off-year elections.” In an off-year year election, also known as a general election, neither a presidential election or a midterm election occurs.

This past election saw the entire Assembly up for election, as well as two vacant State Senate seats. Democrats retained control in both the Assembly and the Senate after the November election, however the Republicans did pick up two new seats in the Assembly and a new seat in the State Senate in the 1st legislative district, covering parts of Atlantic, Cape May and Cumberland counties.

In the current session of the State Legislature, which began in mid-January, the Democrats control 25 seats compared to the Republicans’ 15 in the State Senate. In the Assembly, the Democrats control 52 seats and the Republicans control 28.

The Democratic leadership will stay the same following the election, with Senator Stephen Sweeney remaining Senate President, as well as Assemblyman Craig Coughlin remaining as Assembly Speaker. In addition, Senator Loretta Weinberg will serve as Senate Majority Leader, and Assemblyman Louis Greenwald will serve as Assembly Majority Leader. The Republican leadership

RPAC OF NEW JERSEY

will also remain the same, with Senator Thomas Kean, Jr. remaining as the Republican Leader in the Senate and Assemblyman Jon Bramnick remaining the Republican Leader in the Assembly.

The beginning of the new session follows what can be described as an intense “Lame Duck” period for the legislature. Lame Duck is the period of time between the November election and when the new legislative session begins. When a new session begins, and the new legislators are sworn in, any bills that were not signed into law must be reintroduced and go through the entire legislative process again. As a result, legislators often try to use the lame duck session to pass bills that have already gone through most of the legislative process.

This year, the legislature sent over one hundred bills to the governor during this period of time. New Jersey Realtors® spent this time ensuring no bills adversely affecting the real estate industry, homeownership, or private property rights in New Jersey were passed into law.

We look forward to working with the members of the 219th Session of the New Jersey Legislature. Currently New Jersey Realtors® Government Affairs Department is meeting with members of the 219th Legislature to reinforce who we are and what we do as an organization.

We will continue to advocate to protect the real estate industry and the rights of private property owners in New Jersey.

$900,000

6 | NEW JERSEY REALTOR® | March/April 2020

[$ 310,024.83] as of Feb. 19, 2020.

N E W J E R S E Y L E G I S L AT I V E B I L L S

A678 – Vaineri Huttle (D37), Quijano (D20)/S1504 – Cruz-Perez (D5) Establishes certification program for zoning officers and land use board administrators.

New Jersey Realtors® Position:

STRONG SUPPORT

A1656 – Quijano (D20), Chaparro (D33)/S1805 – Ruiz (D29) Requires fire suppression systems in new single-family and two-family homes.

New Jersey Realtors® Position:

A2136 – Tully (D38), Swain (D38)/ S833 – Lagana (D38), Singleton (D7) Allows municipalities to establish loan programs to fund replacement of lead service lines.

New Jersey Realtors® Position:

SUPPORT

MONITOR

We strongly support this bill so zoning officers and land use board administrators receive uniform training which will enhance their decision-making process.

We are monitoring this bill to ensure the proposed requirement for fire suppression systems is not extended to the resale of existing homes.

Bill History: 1/14/2020 – Introduced in Assembly and referred to Assembly State and Local Government Committee 2/3/2020 – Reported out of committee with amendments and referred to Assembly Appropriations Committee 2/13/2020 – Introduced in Senate and referred to Senate Community and Urban Affairs Committee

Bill History: 1/14/2020 – Introduced in Assembly and referred to Assembly Housing Committee 2/13/2020 – Proposed for introduction in Senate

We support this bill creating a municipal funding system for lead service line replacement as opposed to creating a time-of-sale requirement which would delay and make real estate transactions more expensive.

Bill History: 1/14/2020– Introduced in Assembly and referred to Assembly Environment and Solid Waste Committee 1/14/2020 – Introduced in Senate and referred to Senate Environment and Energy Committee

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Qualified homebuyers can take advantage of NJHMFA’s first-time home buyer mortgage programs and $10,000 Down Payment and Closing Cost Assistance Program to make their home ownership dream a reality. The $10,000 loan is interest free, requires no payments and is forgivable after five years.

Whether New Jersey residents need a mortgage, down payment assistance or housing counseling, NJHMFA can help. Our staff of housing professionals and approved lending partners are dedicated to pairing home buyers with the programs and resources to help them reach their goal of making a home their own.

Learn more at TheRoadHomeNJ.com or email marketing@njhmfa.gov to set up a homebuying seminar in your community. njhousing.gov NJHMFA is a self-sufficient agency of state government dedicated to offering New Jersey residents affordable and accessible housing.

10 | NEW JERSEY REALTOR® | March/April 2020

Managing Your Online Reputation

BY PAMELA BABCOCK

Y

ou may have a love-hate relationship with online reviews, but research shows the majority of consumers scour reviews and often trust them as much as a personal recommendation.

Realtors® and brokers need to have a game plan for managing their online reputation, including how they’ll monitor and respond to reviews, whether they’ll solicit feedback from clients, and how they’ll deal with potentially “fake” negative reviews.

“Real estate agents are their own brand, and there are thousands per county, so today’s consumer is using every resource available to find a good fit for them,” said Realtor® Dave Marcolla, MBA, C-RETS, ABR, SRS, SRES, principal of The Dave Marcolla Group, Keller Williams Real Estate. The Pennington resident keeps an eye on what clients are saying online. “If you don’t have a personal referral, the Internet is the perfect place to find a Realtor®, which means agents need every edge they can get to stand out.”

Having positive reviews can impact your bottom line.

According to a study by Womply on the impact of reviews on local service businesses—which include real estate companies—businesses that respond to more than 25 percent of reviews earn 15 percent more than average.

“Clients view businesses that are active on review sites as more credible and responsive—making them more likely to spend money with them,” said Ellen Ford, a spokesperson for the reputation management and email marketing

software provider. For this reason, she adds, “Realtors® shouldn’t hesitate to respond to both positive and negative reviews as soon as possible.”

It’s also important to claim your business on review sites.

According to Womply, local businesses that don’t claim their profile on one of the major listing sites earn 22 percent less than the average local service business. In contrast, those that claim even just one review site profile make seven percent more than average. Claiming free listings also allows you to reply to reviews and add other information about your business, which also can affect your bottom line.

Monitoring, reaching out for reviews and having a plan for responding are essential, according to Todd William, founder, and CEO of online reputation management company Reputation Rhino.

“Monitoring, reaching out for reviews, and having a plan for responding are essential.”

“Real estate agents and brokers should know who is reviewing their company, when they are reviewing, what they are saying and where they are posting their reviews,” said William. That way agents can “identify and respond to trends and allocate advertising and marketing resources accordingly,” said William.

NEW JERSEY REALTOR® | March/April 2020 | 11

He recommends using real-time social listening and review tracking tools such as ReviewTrackers, BirdEye, and Trackur and following popular review and complaint sites: Facebook, Google My Business, Citysearch, Trustpilot, Yahoo! Local, Yelp, Foursquare, or Yellow Pages.

Some businesses send emails or text messages to clients who they think had a positive experience, often with a link to a review site, and ask for a review. Don’t worry if some of the feedback is less than stellar—customers and clients don’t expect perfection.

“As an educated consumer, I look at any business with a 5-star rating or 100 percent satisfaction—no company or real estate agent is that good,” said William. “When we are working with a small business, our goal is usually 4.5 stars.”

William recommends responding to all “relevant” reviews— the good, bad and the ugly—and taking steps to resolve issues and convert negative reviews to positive, when possible.

Rod Hughes, vice president of Kimball Hughes Public Relations in Blue Bell, Pa., says Realtors® and brokers should develop guidelines for responding to positive reviews as well as potentially negative feedback and be prepared to take “negative conversations offline” if necessary. He recommends creating a plan that outlines general response protocols, including ideas and not canned responses, and scheduling time—either daily or weekly—to thoughtfully review online channels and reviews.

“Managing online reviews can be a job in itself,” said Hughes, whose firm works with brokerages on both coasts.

Hughes recommends responding to all negative reviews but in most cases, it’s best to encourage the reviewer to engage offline by providing a direct email address or phone number for someone to contact.

If the complaint is about a specific agent, it might be better for the broker, a manager, or even the brokerage’s marketing person to reach out. If it’s a small shop, Hughes recommends asking an agent you trust to reach out, gather information and provide a timely response.

Whatever you do, don’t buy reviews or incentivize clients to leave reviews. In addition to being dishonest, doing so violates the user agreements of most platforms. Such reviews are easy to spot, and once competitors and others catch on and report you, the platform will likely ban you from using its services.

Jeff Moriarty, a Chicago-area marketing consultant who does SEO consulting and reputation management for many Realtors®, recommends installing Google My Business on your phone to stay up to date on all new reviews. He also recommends using an email platform such as Mailchimp 12 | NEW JERSEY REALTOR® | March/April 2020

or Klaviyo to set up automated requests for reviews from satisfied customers.

While it’s unlikely you’ll want to send a review request to a downright unhappy customer, don’t be afraid to ask for reviews from someone who you think may not have been 100 percent happy.

Ford says Realtors® should ask all clients to submit a review for two reasons. First, more reviews correlate with more revenue, according to the Womply study. The study analyzed transactions and online review data for more than 18,000 local service businesses in the U.S. Local service businesses with more than 34 total reviews earn 14 percent more in annual revenue than average, the study found.

“Even though it may feel good to have a 5-star rating, Realtors® should care more about the quantity of their online

“If you get a negative review, take a deep breath and don’t try to retaliate since a ‘tit for tat’ response could cause you to look unprofessional and may exacerbate the situation.”

reviews than the quality,” Ford argues. For example, two five-star rated local service businesses earn below-average revenue since the sweet spot for maximum revenue is 4.0 to 4.9 stars. And don’t feel you’ll have to beg for reviews. According to the study, about 7 in 10 clients will leave a review when asked.

“Having positive reviews can impact your bottom line.”

Marcolla doesn’t use tracking tools but says he checks reviews on realtor.com and his Facebook business page about once a week. Just two years in the business, Marcolla says he does about 30 deals a year and has yet to get a negative review.

“I have pretty good control over it and haven’t had a client who wasn’t satisfied, so I guess I’m lucky,” said Marcolla. He pushes links to clients he thinks had a positive experience and says about half leave online feedback.

Marcolla says he doesn’t respond online to positive reviews but usually sends an email or text to the person to thank them.

According to a Womply analysis of states where consumers are the kindest and harshest to local businesses, New Jersey ranked 18th, with 82.2 percent positive reviews; New York ranked 27th, with an 81 percent positive review rate; and Pennsylvania came in 43rd, with 78.4 percent positive reviews. Montana reviewers were reportedly the nicest, 86.9 percent positive reviews, while Hawaii ranked 50th with only 70 percent positive.

If you receive a legitimate negative review, hopefully you can learn from it, but how you should handle a review that’s negative—or fake—is another matter and was covered in a video by the National Association of Realtors® Associate Counsel Charlie Lee. Fake reviews can be daunting in part because of two federal laws, according to Lee. The Communications Decency Act provides immunity to service providers such as Google, Yelp or Facebook for publishing content provided by others, such as reviews. Meaning service providers “cannot be liable for acts committed by others using the website or online forum, even if the provider fails to take action after receiving actual notice of the harmful or offensive content,” said Lee. Second, the Consumer Review Fairness Act protects a consumer’s ability to share their honest opinion about a business’ product, service or conduct in any forum.

This includes social media, and prohibits a business from restricting an individual’s ability to review the business, and

from imposing any penalty or fee against someone for doing so, according to Lee. If you get a negative review, take a deep breath and don’t try to retaliate since “a tit for tat response could cause you to look unprofessional and may exacerbate the situation,” said Lee. If you know the review is fake, here are some steps to take: 1. Try to get it removed.

Go through a site’s terms of service to follow its take-down procedure. For example, Lee explains Facebook may remove any user-submitted recommendations that don’t comply with its Community Standards or that don’t focus on the product or service offered. According to Lee, Yelp will remove a review if it violates its Content Guidelines, which includes reviews submitted by a reviewer with an apparent conflict of interest, not based on a reviewer’s personal experience, uses offensive language, or contains confidential information.

2. Consider posting a thoughtful reply.

Be polite but point out inaccuracies such as you’re not able to confirm that the person was a client. Lee recommends inviting the person to contact you directly. That way, you’ll avoid having the fake review stand-alone and demonstrate your professionalism and fact you take reviews seriously.

3. Consult an Attorney If you have any proof that someone or a competing business is conspiring to ruin your business, consult an attorney and obtain their recommendation about taking legal action.

NEW JERSEY REALTOR® | March/April 2020 | 13

How to Become a

Neighborhood Resource

BY COLLEEN KING OLIVER

S

o you have the business down—paperwork, showings, deals, negotiations—but what’s setting you apart from other Realtors®? There’s a way to stand out among the crowd and it may be easier than you think.

Reach Out

Time to hone those extrovert skills and get networking. If you’re not wellestablished in an area, it’s time to make some Becoming a true neighborhood resource sets you as a introductions. Support local businesses in every way community expert and allows you to dedicate your marketing you can. Get your morning coffee from the coffee shop and resources to an area where you can have the most on Main Street, eat lunch at the local diner, set up client effective impact. meetings at neighborhood places whenever you can, and share their information on your social media pages.

What is a neighborhood resource? If you help clients There are dozens of businesses that are intertwined buy or sell in a certain area, you may know the area well in the real estate industry and clients may come to enough, but being a true resource is having knowledge about you looking for recommendations. If you know neighborhoods and communities and the people that make what local businesses have to offer, you’ll them up. Having knowledge about a specific area can even help be better suited to answer your you overcome the experience gap with other agents who may be clients’ questions. in the business longer but don’t possess the same knowledge you have.

Here are a few simple steps to get you on the right track to be a pillar of the Get Involved communities you Join everything.

From your serve. local Chamber of Commerce to Facebook groups, get your name and yourself out there. Pick groups or activities that matter to you, don’t just join for the sake of joining. For example, if you get involved with the Chamber of Commerce, make sure to be an active participant—show up to meetings, ask questions, offer help, and be available.

Organic relationships are often a great source of referrals.

14 | NEW JERSEY REALTOR® | March/April 2020

Keep Learning Even if you’re farming the town you spent your entire life in, there are always things to learn about your area. From zoning changes year-overyear to new development, make sure you’re keeping yourself knowledgeable on what’s happening in town. This might mean subscribing to the local paper (and reading it!) or going to a town council meeting every once in a while.

When clients are looking to move into an area, they’re going to research neighborhoods but they’re also going to rely on your knowledge. You’ll need to know about walkability and business districts. Utilize the tools you have available to you like housing data from New Jersey Realtors®, where the municipality data is exclusive to Realtors®. Or the Market Activity Report from Realtors® Property Resource that can display data for flexible geographies and includes upcoming open houses. Sharing market-specific content on your marketing channels will let prospective clients know that this is your expertise.

Be Authentic It’s easy to spot a fraud, but if you truly love the community you serve, it will show. Set up a presence in a place that holds meaning to you and is somewhere that inspires you to help its residents. If you’re doing business within a community, you are a part of that community and that means you are a representation of all it encompasses. Be fearless in your pursuit of your business, but respectful and kind to the neighborhoods you serve. Authenticity in your brand is priceless marketing.

NEW JERSEY REALTOR® | March/April 2020 | 15

TOWN SPOTLIGHT

HOPE TOWNSHIP

BY LINDSEY GETZ

Photo by John Kruk Photo by John Kruk

A

s one of the earliest planned communities in the United States, a visit to Hope Township in rural Warren County is like a glimpse back into history. There is a lot that hasn’t changed from the time German Moravians established the area in 1769. This evangelical sect was said to have traveled to New Jersey from Bethlehem, Pa., to spread the gospel. Upon arriving, they built a gristmill, a general store, a church, a school, and some homes.

“You can tell which buildings were built by the Moravians— they are all of the stone buildings here in the village—you’ll also note the red brick window arches.” said past president and current active member of the Hope Historical Society, Nancy Treible. Treible has lived in Hope her entire life and is committed to upholding its history.

16 | NEW JERSEY REALTOR® | March/April 2020

TOWN SPOTLIGHT

Photo by PARASHOOT Productions

Photo by John Kruk

Hope Mayor Timothy McDonough says that many of the Moravian stone buildings are still used and lived in— many of which would not be standing had it not been for significant private investments. That includes the Bank of Hope, which was previously the Moravian church and had fallen into disrepair until the bank invested in restoring it.

Photo by John Kruk

Treible says that the best way to explore Hope’s history is through a visit to the Hope Historic Museum, located at 323 High Street, which is open June through October.

The museum houses a variety of historical documents, primitive furniture, Moravian history, and more. It resides in a building thought to be the original stone bridge toll keeper’s home and then served as a private home for many years. Hope Township Historical Society members are often available during those seasonal hours for town tours.

However, should visitors arrive when the museum is closed, there are also brochures in the local antique shops to conduct self-guided walking tours.

In December, Moravian goods—in particular, Moravian Stars—are a popular local item, and Hope hosts a townwide juried Craft Market that attracts hundreds, if not thousands, of visitors. To make a weekend of it, The Inn at Millrace Pond, a bed and breakfast housed in what was previously the Moravian gristmill, is one of the best ways to be truly immersed in the history. The 23-acre estate offers 17 renovated rooms and The Old Gristmill Tavern, which is open daily for dining.

“The gristmill is one of those buildings that was close to falling down,” said Mayor McDonough. “It was one of the first buildings constructed here by the Moravians.

Fortunately, today it is restored and absolutely gorgeous.”

While long-standing history—and buildings—certainly make Hope unique, Mayor McDonough says there’s more to it than that.

“It’s the spirit that makes Hope so special—including the people that live here,” said Mayor McDonough. “It’s a real slice of what America is all about. There aren’t too many places left that have that community spirit where all of the residents still get together for township picnics and parades.

It’s truly a special place.”

NEW JERSEY REALTOR® | March/April 2020 | 17

How Coaching Can Help You and Your Bottom Line

BY LEE NELSON

O

pening his own real estate brokerage hadn’t been part of the plan, but when the opportunity appeared for Realtor® Christopher Coronato in 2018, he turned to his coach to talk through the steps. He ended up creating Coronato Property Group in Westwood.

“I’m putting in the 80-hour workweeks to grow my business, but to have someone there to support me through it all has been invaluable,” said Coronato.

Coaching comes in many forms, and Realtors® seek out coaches for a myriad of reasons. A Realtor® can find a coach for any issue, subject, problem, or niche they desire.

The Universal Coach Institute, headquartered in Chicago, lists dozens of certifications available for coaches.

The two types of coaches include personal coaches and business coaches. Under each type, many different callings exist. For instance, as a personal coach, training 18 | NEW JERSEY REALTOR® | March/April 2020

and certification can consist of life, finances, health and wellness, and relationships. Under the business heading, you can find coaches that focus on leadership, executive, entrepreneur, startup, and online marketing.

When to Hire a Coach Coronato believes when a Realtor® talks about themselves rather than their clients, coaching can change that behavior.

“It’s about our clients, our communities, and our offices, not necessarily the individual agent,” said Coronato.

Coaching isn’t just for people in a slump. They can also help those reach their successes on a faster trajectory.

“Coaching gives you clarity of what works and what doesn’t,” said Coronato.

According to Jeff Lobb, Coronato’s former real estate boss, some Realtors® think hiring a coach shows weakness, and some won’t even admit it when they do get a coach.

“I think everyone needs a coach, whether it’s for their health and well-being or for business reasons,” said Lobb, founder and CEO of SparkTank Media. He began his speaking, training and coaching company in Augusta after many years of owning his own real estate company.

“Who will hold you accountable for your goals? And when you have a bad week, who can bring you back to reality?” said Lobb. “We aren’t machines, and no one can always be upbeat and cheery [all the time]. I have a coach, too.”

Realtors® Who Become Coaches Dave Fanale earned his real estate license in 1976. He owned several different agencies and companies, but in 2017, he switched to be a real estate coach and founder of Real Estate Skill Builder, Carlstadt. “Real estate coaching and training are not the same things. Training teaches you skills, and coaching helps you enhance those skills,” said Fanale.

He believes because of his many decades in the industry; he can help beginners to very experienced agents with many facets of their business. He works with them on accountability. “There is no time for BS here, and no other coach will tell you that. This will keep you accountable, so you can be more focused and determined in reaching your goals,” said Fanale.

A good coach educates their client, helps them build structure, and build motivation. His clients can talk with him during a live Q&A once a week or send him questions online. They are getting their hand held through an issue they can’t understand, explains Fanale.

He also tries to inspire agents to use technology to their advantage. “I teach agents to do other things that many

agents refuse to do, such as video chat and marketing by broadcasting on Facebook while out and about in their town,” said Fanale.

“Some Realtors® need to get out of their own way,” said Fanale. “They don’t have the confidence in themselves, and they need to learn to commit to their goals.”

When finding a coach, Fanale suggests you interview them, and they interview you. It has to be a two-way street, and the personalities need to mesh.

Gerri Leventhal has been helping clients buy and sell homes for 23 years. She owns Green Expectations in Montclair, but for seven years, she has been a professional coach for agents.

“Real estate is an opportunistic business, and if you are not prepared, you will miss numerous opportunities. Your bank account will tell you that you need a coach,” said Leventhal. In this industry, one must be good at many things to succeed in real estate. A good coach gives direction and anticipates what their student needs before they need it, she adds.

She works with her coaching clients with online conference calls to discuss their needs. She believes studying agents who have become successful remains a great way to understand the industry. What did they do? How did they spend their money? Where did they exert their energy?

“Then make your business model based on your skill set,” said Leventhal. “Don’t try to be anybody else. Be yourself and be honest.”

If you want to grow, find a coach who can devote time to you and your questions, explains Leventhal. “You should NEW JERSEY REALTOR® | March/April 2020 | 19

explain your current frustrations to the coach, and they should be able to give you a blueprint on how they plan to move you forward,” said Leventhal.

Length of Time With a Coach “Jeff Lobb isn’t the kind of coach that sits behind the computer and says you are the best, ” said Coronato.

He meets with Lobb every other week over video chats and phone calls. They talk about his business and its growth, and he continues to work with him even after a few years.

Leventhal believes you stay with a coach as long as you feel you are growing, learning, and benefiting. “You should commit to coaching for about a year because it will take about 12 months in real estate to see a financial turnaround,” she said. “Each transaction takes two to three months to close, so having a bad run for a few months should be averaged over the year.”

worked with Ball to help create looks that presented her real estate brand for her social channels.

“As her stylist, I picked out looks for her to wear on camera and taught her which colors and styles worked best to communicate her brand’s message and attract an audience,” said Ball. “The Realtor® I worked with knew to stay relevant and successful in her field, she needed to elevate not only her professional appearance but also her approachability and likability. What you wear influences these qualities greatly.”

Changing Life Around With Coaching Pete Kopec Jr., Realtor® with Keller Williams, Village Square Realty in Ridgewood, experienced a rough transition from a salaried 9-to-5 to a 100 percent commission-based job. “I had never done it before. I went part-time for six months in real estate, and then jumped full-time in January 2016,” said Kopec.

His first coach happened to be Fanale, who owned the brokerage Kopec worked at and wasn’t labeled a coach at the time. “He was supportive of me being a part-time agent. If it weren’t for Dave, I don’t know if I would have jumped into it full-time,” said Kopec.

With coaching, accountability becomes a big part of the equation. As a new agent, Kopec looked for structure and how to do everything. Fanale helped him focus on what he should be doing all day to grow. When Fanale opened up his coaching business, Kopec stayed with him.

Adding Personal Style With a Coach With the growth of social media and brand awareness as the modern-day marketing, the only way to stand out in today’s market is to be active across multiple social platforms. “I’ve recently worked with a successful, longtime New Jersey Realtor® who had recognized this reality early on and had been moving more and more of her business to build her social presence,” said Erica Ball, personal wardrobe stylist, and coach, headquartered in New Jersey.

This Realtor®’s engagement included posting several times weekly on Instagram, writing real estate blog posts, and shooting real estate videos of guided home tours. She

20 | NEW JERSEY REALTOR® | March/April 2020

“Coaching helps you remember why you are doing what you are supposed to be doing. That doesn’t just apply to real estate but for many things such as losing weight, learning to speak a language, or focusing on being a leader,” said Kopec.

He still meets with Fanale once a month to bounce things off him, but they keep in touch several times a month.

Kopec has had steady progress and improvement, even buying a second investment property.

“Without coaching, I wouldn’t be where I am today. I wouldn’t have been as excited to start this year,” said Kopec. “With coaching, I put down the amount of business I want to do. Then I break it down month to month, week to week, and day to day. I know what I need to be doing every single day.”

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Serve Those Who Serve Our Country

Earn NAR’s Military Relocation Professional (MRP) Certification Sharpen your knowledge and skills for working with military homebuyers and sellers with NAR’s Military Relocation Professional (MRP) certification.

REALTORS® with the MRP certification provide real estate support for active and former servicepeople, and ensure that they take advantage of military benefits.

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22 | NEW JERSEY REALTOR® | March/April 2020

Making the Transition from Agent to Broker

BY MICHELE LERNER

N

early every successful real estate agent has thought to become a broker. After all, someone who understands the dynamics of their market knows the legal and ethical implications of every move and can handle the varied personalities of buyers, sellers, and other agents would make a good broker. But before you decide on a career transition, brokers and agents who have traveled that path offer their insight into the skills and personality that best suit each role and the pros and cons of becoming a broker.

“I got my broker’s license about two years after I became an agent back in 1968 because I wanted to get more knowledge about the real estate business,” said Bill Leahy, a Realtor® and former broker with Long & Foster Real Estate in Avalon. “I think every agent should get their broker’s license so you can learn all aspects of the business and be the best at what you’re doing. You can decide later if you want to be a broker or an agent.”

New Jersey regulations require you to have your license and employed as a full-time real estate agent for three years before applying for a broker’s license. A broker’s license also requires a high school education or equivalency and 150 hours of education, including a 90-hour general real estate course, a 30-hour course on agency and ethics, and a 30hour course on office management topics.

“I got my broker’s license when I was 27 because I had been selling real estate since I was 22 and wanted to increase my skills and education while also gaining more

respect and credibility,” said Pam Vallas, a broker, and manager of the Middletown office of Coldwell Banker Residential Brokerage. Vallas became a managing broker in 2010, 24 years after getting her real estate license.

“I was driven as an agent, but I became a broker when I was ready to switch from buyers and sellers as clients to other agents being my clients,” said Vallas.

Both real estate agents and brokers need to be positive and upbeat, but the shift in mindset to becoming a broker requires additional skills and personality traits.”

What it Takes to Be a Broker Both real estate agents and brokers need to be positive and upbeat, but the shift in mindset to become a broker requires additional skills and personality traits.

“The best players are not always the best managers, and the best managers are not always the best players,” said Bob Kievet, a former broker and a Realtor® with Coldwell Banker Residential Brokerage in Wall. “The same thing is true in real estate. A broker needs to have the patience to handle the agents in the office.”

NEW JERSEY REALTOR® | March/April 2020 | 23

Kievet was a managing broker for most of his 35-year career in real estate and recently opted to switch back to an agent position and to teach brokerage classes, in part because he wanted to step back from recruiting duties.

An essential skill for brokers, said Leahy, is time management.

calm and consistent with how you handle situations that can get emotional for the people involved.”

“If you’re already doing 60 hours a week as an agent, you need to factor in extra time to run your business to interview agents, hire people, do the books, handle the advertising, and train people,” said Leahy.

“You need experience as an agent before you become a broker because you have to be able to understand the issues your agents face and communicate with them,” said Iovino.

“You also need to know about management policies and procedures, billing, and anything associated with running a business.”

Infectious enthusiasm is also essential for success.

“You need to be able to inspire your agents and become their biggest fan,” said Vallas. “You also need to be able to recruit new agents to keep your office fresh, so you must be able to talk about your office culture and believe in your brand.”

Other must-have qualities brokers need include natural leadership, organizational skills, problem-solving abilities, strong ethics, and being a good listener, Vallas says.

“As a broker, you need experience and knowledge about running a business, ethics, law and handling clients,” said Fernando Semiao, broker/owner of four offices of Century 21 Semiao and Associates, with headquarters in Lyndhurst.

“You’re held accountable not only for yourself and your clients but for your agents and their clients by the real estate commission and the public.”

As a broker, you need experience and knowledge about running a business, ethics, law, and handling clients.”

Semiao purchased a brokerage in 1992 because he wanted to use his experience selling both new and existing homes as well as his experience in development.

“I’m self-driven and wanted to own a company I could be proud of,” said Semiao.

Semiao, who has a business administration degree in addition to his real estate training, says that brokers need to be prepared to handle marketing, payroll, recruiting, and human resources issues, including disputes between agents and between agents and clients.

“You need to be able to listen to both sides of conflicts and listen more than you speak,” said Semiao. “You need to be

24 | NEW JERSEY REALTOR® | March/April 2020

Tony Iovino, broker/owner of RE/MAX Community in Williamstown, bought his brokerage in 2015 and hired a broker of record until he earned his broker’s license.

One of the advantages of becoming a broker is the additional structure, explains Vallas.

You need to be able to adapt to

every market cycle and be a cheerleader for your agents no matter what’s happening in the market.”

“You’re in the office during regular hours, although you still have to be available to your agents 24/7,” said Vallas.

“Most brokers also get a salary and benefits, as well as potential advancement opportunities within the corporate structure of the company.”

On the other hand, you lose a little freedom as a broker.

“Depending on your production level, you may make less money as a broker than as an agent,” said Vallas.

According to Semiao, brokers need to be flexible and ready to coach other people. “You need to be able to adapt to every market cycle and be a cheerleader for your agents no matter what’s happening in the market,” said Semiao.

According to Vallas, recruiting agents is an essential part of being a broker. “Recruiting agents is similar to prospecting for clients,” said Vallas. “Plus, you need to rerecruit your agents because you know they’re getting calls from other companies every day.”

Varied Business Models The exact job description of a broker depends on company rules and whether you’re a broker/owner or a manager. Some companies require managing brokers and broker/owners to stop actively selling real estate to

avoid competing with their agents. Others allow brokers to continue working as agents.

“I still sell real estate, but as a broker, I’ve stepped back to split my time between sales and managing the office,” said Iovino. “I did well as an agent, but I wanted to build something of my own and to have a long-term plan for when I want to step back more in 15 years or so.”

At Coldwell Banker, managing brokers don’t sell real estate, which means they need to be willing to turn over leads to their agents.

“If you’re in it for the money, then you might want to stay an agent,” said Kievit. “Top agents will always make more money than their broker. But if you want to have a different hat, function as an administrator, and get a paycheck, the broker role may be better for you.”

At Century 21, brokers can continue to sell real estate, but not all do. The amount of time spent on recruiting and training varies by the company as well. “A big benefit of a brokerage within a franchise is that you get a lot of support,” said Semiao. “I can work on marketing the company and lead generation because Century 21 handles all the training for agents. Otherwise, I’d be spending all my time training.”

they hate dealing with other people’s problems.”

Whether to become a broker is a personal decision that depends on your talents, Leahy explains. “Some people are more effective than others at training and others are better at selling,” said Leahy. “Understanding what a broker does and how your time allocation would work is a critical part of the decision. As a broker, you have to sacrifice your time to help make other people successful.”

Talking to brokers and managers from several companies can give you a better idea of what the job entails, explains Vallas.

“If you’re not sure about becoming a broker, see if you’re comfortable recruiting agents for your office since that’s an important part of the job,” said Vallas. “You don’t want to give up your client base to become a broker and then realize you don’t like the job or fail at it.”

As you consider your future in real estate, think about your skills, your personality and your appetite for freedom and stability to help you choose the right path.

Top agents will always make more money than their broker. But if you want to have a different hat, function as www.vmdpros.com | 973-845-2448

an administrator, and get a paycheck, the broker role may be better for you.”

PHOTOGRAPHY

Advice from Experienced Brokers Transitioning from agent to broker requires long-term planning. “Think about your future and where you want to be in ten years,” said Iovino. “Becoming a broker and building a successful office takes time. You need patience, the willingness to step back a little from sales, and the willingness to make a financial investment into your company.”

Before becoming a broker, Iovino recommends talking to several brokers and managers to get their advice and learn about their experience.

“Don’t jump from agent to broker, be a manager first,” said Semiao. “Find out if you want to manage people or not.

Some great people go from agent to broker and then decide

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NEW JERSEY REALTOR® | March/April 2020 | 25

Talking Cultural Diversity F

or Realtors® to continue to succeed in the industry, it’s critical they embrace the diversified market of clients and colleagues they serve. We asked members of the 2020 New Jersey Realtors® Equal Opportunity and Cultural Diversity Committee to answer a few questions about cultural diversity.

Q: What does cultural diversity mean to you?

“Learning more about different cultures has allowed me grow my business not only globally as a Certified International Property Specialist, but also here in New Jersey. I have become more aware of how various cultural groups conduct business and what to expect when dealing with a diverse client base.” – William Daniel Koumas “Cultural diversity means the inclusion of everyone.”

– Y.Y. Lien “So first I had to look at the definition of “cultural diversity” [and] here is what I found: cultural diversity is when population differences are well represented within a community. These include race, ethnicity, age, ability, language, nationality, socioeconomic status, gender, religion, or sexual orientation. My issue is with the word diversity. Diversity is when the you have representation from black and brown people. I think the right word to use is inclusion.” – Tiffanie C. Radomicki “Cultural diversity means understanding and embracing different culture[s] without judgments to me in my business. We are very fortunate to live in an area with people from different countries and religions.

The differences are going to enrich the life, food, and entertainment of the area. We open our arms to all kinds of people and do not judge them by their appearance.”

– Jean Lu “It means open arms and doors to all people regardless their ethnicity, religion, culture, etc. Only united can we help build diverse, stronger communities.” – Rosa Santos

26 | NEW JERSEY REALTOR® | March/April 2020

Q: Are there any ways in which you incorporate cultural diversity into your business?

“By thinking about how my audience (clients) perceive what I’m saying and tailoring it to fit the culture that I’m dealing with. In addition I try to advertise in multiple languages and have joined various community organizations that cater towards helping ethnic groups grow their businesses. By advertising and assisting in these organizations my business has grown.”

– William Daniel Koumas “Yes—it is in my branding, I am also a board member and treasurer of the South Jersey chapter of NAREB (National Association of Real Estate Brokers). One of our directives is #2Mn5 (2 Million in 5 years): 2 million new black homeowners in 5 years. Why is this needed? There was a time when black and brown people could not own property […] my business is also about inclusion. Most conversations begin via the telephone [and] I need to be able to connect with whoever is calling me—that means having empathy for the other human being on the phone. [It means] being knowledgeable of the different programs that are available to fit that person‘s needs [and] being able to educate the person on real estate, real estate investing, mortgage 101, finance, debt-to-income ratios, and the process as a whole.”

– Tiffanie C. Radomicki “To me it’s all about being inclusive to everyone. It’s about treating everyone with respect and understanding and like a good house, build a strong and ethical foundation with my customers and clients. I personally happen to love the differences in people and their unique cultures. To me it’s an opportunity to learn about them and their culture. It’s about my personal growth and enrichment as well as opening myself to wonderful new ideas and vistas, as well as seeing a commonality among our cultures.” — Sheryl Simon “I will explain some culture, custom, or habits of Chinese people such as Feng Shui and the use of compass to people who do not understand. I am curious and always

ask questions about cultural difference[s] in a casual way and respect other peoples’ different way[s] of thinking or doing things. I try to provide multiple language resources to the clients or find the professionals that can speak their language if that makes them more comfortable.”

– Jean Lu

Q: What are some words that come to mind when you think about cultural diversity?

“There’s a great quote from Marie Curie, “Nothing in life is to be feared. It is only to be understood.” I come from a family where I was [a] first-born American. My parents didn’t understand the language when they arrived. So, for me, incorporating cultural diversity in my business to bridge the language gap between me and my customers has always been important. When you have a language barrier it holds people back. When someone from another background sees that you are truly helping them understand the process, they end up succeeding. That is the best part of the job, for sure. It’s a win/win all the way around.” — Lucy Korzelius

“Yes, I took At Home with Diversity and Certified International Property Specialist [classes] to understand and provide better services to my diverse clients.”

– Rosa Santos

“Connected, similar, different, equal.” – Yolanda Bass

“I see my clients through one lens.” – Yolanda Bass

“Inclusion, education, accessibility to information.”

– Rosa Santos

“Religion, language, fair housing, handicapped, sex, gender, sensitivity, insensitivity, community, training, listening, understanding, inclusion, opportunities, jobs, bias, discrimination, illness.” — Lucy Korzelius “Energetic, interesting, resourceful, acceptance, heritage.”

– Jean Lu “Food, language, melting pot.” – Y.Y. Lien “Black and brown, people with natural hairstyle, linguistics, socioeconomic status, LGBTQ , religious beliefs, people wearing head coverings and turbans, and anything that isn’t the status quo.” – Tiffanie C. Radomicki “Growth, global inclusion, awareness, global-centric thinking, and customer-centric thinking.”

– William Daniel Koumas

Code of Ethics Article 10 Article 10 REALTORS shall not deny equal professional services to any person for reasons of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. REALTORS® shall not be parties to any plan or agreement to discriminate against a person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity. (Amended 1/14) ®

REALTORS®, in their real estate employment practices, shall not discriminate against any person or persons on the basis of race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.

(Amended 1/14)

An excerpt from the National Association of REALTORS® Code of Ethics.

NEW JERSEY REALTOR® | March/April 2020 | 27

B O A R D / A S S O C I AT I O N N E W S

Greater Bergen Realtors® Sponsor Dog Park In January, Greater Bergen Realtors® sponsored a new dog park in Glen Rock with a placemaking grant from the National Association of Realtors®. The park is the first in Glen Rock dedicated to 9/11 search and rescue dogs.

With the placemaking grant, Greater Bergen Realtors® purchased equipment so the park can host animal training sessions, pet adoption days and more. “It was an honor to have been able to be a part of this special moment for the town of Glen Rock and Bergen County,” said Greater Bergen Realtors® 2020 Vice President, Yesenia “Jessie” Frias. “I really admire the mission, and the dedication of this park to those little 4-legged heroes who were instrumental in the 9/11 rescues.”

Tricky Tray for Hugs for Brady The Metro Centre Association of Realtors® presented $15,500 at its tricky tray event in October for the Hugs for Brady Foundation, a 501 (c) 3 non-profit dedicated to supporting children and families fighting childhood cancer.

The Metro Centre Association of Realtors® Community Service Committee dedicated the entire year to planning the event. The donations funded research projects at Rutgers University Cancer Institute, defrayed costs for families with children in the pediatric unit, and went towards five Brady Buddy Wagons, comforting modes of transportation for children in the hospital.

Metro Centre Association of Realtors® presenting their donation to the Hugs for Brady Foundation.

Greater Bergen Realtors® at the grand opening of the Glen Rock dog park.

Want to be featured in NJ Realtor® Magazine?

Email editor@njrealtor.com with your local board/ association news.

Thanks to the Greater Bergen Realtors®, the Glen Rock Dog Park can host training sessions and adoption days.

28 | NEW JERSEY REALTOR® | March/April 2020

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