2016 Oct 5th

What is Your RE Agent Selling? Your Hoboken Home, or Themselves?


I just rode my bike up Bloomfield St. and was struck by the similarity of the all the realtor signs.   Almost 100% said “For Sale”, the name of the listing agent (and often a very flattering photo), their agency, their phone number and little more.  Some were on very fancy schmancy sign posts and many had rich, bold lettering and elegant color choices.  But they were almost all missing any description of the property they were selling.  Are they selling the building or a condo?  Is it a 1BR or 2 or 3?  How many bathrooms?  How much are the sellers asking?  Taxes?  Maintenance?  Square footage?  None of this information was offered.

Why would an agent not put these simple, readily-available, critical facts on their sign?  The answer is simple – they want passers-by to call them for that information so that they can try to capture them as their buyer.  They are putting their own selfish best interests before that of the sellers.  An agent’s primary fiduciary obligation is to try to get the most money possible for the seller, not to try to get double the commission by representing both the seller and the buyer.  Many buyers see that sign but keep walking, thinking they’ll call or notify their own agent later.  They’ve forgotten it by the time they get home.  The listing agents also want their pretty, photo-shopped picture all over town.  They serve as little mini-billboards, like those “Have a Crash, Get the Cash” signs you see on the highway down South.  They want you to remember how many times you saw their picture when you have to choose a realtor.  “Oh, so-and-s0 must be good, I see his signs everywhere.”  Sorry – effectively marketing yourself does not make you a good realtor.

Our Turoff Team signs are not fancy schmancy.  They are practical, efficient and they put the best interests of the seller first.  They attach to the gate so that they are within reach and they have an attached flyer box so potential buyers can grab a flyer as they pass.  They have a plaque affixed to the sign itself so that even if the flyer box is empty, people can see what kind of home is being sold along with the associated information.  It has our contact info so that people can call us if they’d like to schedule an appointment, but if they want to bring that flyer to their own agent, or give it to a friend, or attend an open house, that’s OK with us too.  Our job is to sell the home to the most qualified buyer for the most money possible and as quickly as possible.  If your agent’s goal is to make more commission dollars, even if it means you’re getting less for your home, it’s time to reassess your relationship.










Oh, and the photo we use on our signs and business cards are not photoshopped.  They are not even professionally taken.  They are a picture of us with our (past) dog at the Mets game.  Because that’s who we are.  That’s who you are hiring.

If you’re thinking of selling your home, please call me first (201.993.9500) and give The Turoff Realty Team the opportunity to show you why we can help you sell your home faster and for more money!

2 Dog Day 2006


Posted by Lori Turoff | Currently 6 Comments »

2009 Jan 7th

The Weekly Wrap Up (Happy New Year Edition) – Hoboken Condo Sales & Inventory for January 7th

Research, analysis & post by Howard Turoff

[email protected]

It’s a New Year In Hoboken – Positive Thoughts Only!

There are 564 active Hoboken condo units on the market. There were 15 price reductions this week. Only four units sold, four went under contract and there have been 32 new listings.

The Hoboken Open House Google Map returns this week after a break for the holidays.  Check it out to see if any of the new listings (or old actives) are having open houses.

Studio & 1 Bedroom Hoboken Condos:

One 1BR sold in 29 days for a sale price of $242,500.

One 1BR under contract this week after being on the market for 104 days. (Reminder – the final sales price won’t show until after the deal closes.)

Note – For deals that went under contract or were sold at their original asking price, by comparing “LP” (Listing Price) to “SP” (Sales Price) you can see how far sellers had to drop the price to negotiate the sale. We will separately break out individual deals only if those properties had interim price reductions.

160 total active with an average asking price of $471,238 with seven price changes.

17 new listings with an average list price of $608,215.

Two Bedroom Hoboken Condos:

One 2BR was sold in 93 days on the market at $510,000.

Three 2BRs went under contract this week after being on the market for an average of 71 days.

282 active 2BR condos with an average asking price of $665,599 with eight price changes.

14 new 2BR listings with an average list price of $682,690.

Three Bedroom and Larger Hoboken Condos:

No 3BR went under contract this week.

One 3BR was sold this week after 53 days on the market for $650,000.

51 active 3BR condos for sale with an average asking price of $1,099,866 with one price change.

There was one new 3BR listing with a list price of $1,327,995.

Hope Springs Eternal Hoboken!

As we enter the new year, wars are raging in the Middle East, there are grave concerns about the U.S. and world economies and many difficult challenges awaiting the new administration in D.C. about to be inaugurated.  It would be easy to hide under the covers and wish it all away, but that’s just not the way it works.  A positive attitude and a desire for health, happiness and success in the new year is a great place to start, but hoping and praying doesn’t hold a candle to DOING!  Volunteer for a charity.  Clean up your neighborhood.  Help your elderly next-door neighbor.  Smile at a stranger.  Make the world (and Hoboken in particular) a better place by “paying it forward” and EVERYTHING (including all our property values) will benefit.

Posted by Lori Turoff | Currently 2 Comments »

2008 Dec 12th

What are First-Time Homebuyers Thinking?

Will The Housing Market Recover Quickly? First-Time Homebuyers Certainly Think So.

by Howard Turoff

One of the things Lori and I are proud of is that all of the posts on this blog represent our original thoughts. We don’t buy canned, generic blog articles and we post only items of specific interest to Hoboken. (We wouldn’t deserve the name HobokenRealEstateNews if we didn’t.)

Something caught my eye today on Trulia, and I thought it was worth sharing. Trulia had a poll about buying real estate asking first-time homebuyers when they plan to jump into the market. I found the results surprising:
Less than six months:   48.1%
Six to 12 months:   26.9%
12 to 14 months:  10.2%
Renters for life:   14.8%

Considering that this is a national poll, and that the Hoboken market is healthier than many (most) other parts of the country, I found this to be pretty encouraging. What do you think? Will the Hoboken real estate market rebound quickly?

Posted by Lori Turoff | Currently 10 Comments »

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