the Resourceful Realtor

Why Did You Become a Realtor?

Thomas McCormack (Resources Real Estate) — Fri, 07 Oct 2011 22:41:54 -0700

More and more, what I really want to know is this: Why did you want to become a Realtor?

During the past year as I've made the transition from agent to broker-manager/co-owner I have become much more involved with the day-to-day drama of agents and I am continually interviewing new licensees looking for a place to call their 'real estate home'. And I really want to know, why this?

Money, of course, is a frequent motivating factor -- after all this is supposed to be an income-producing activity. But I think for most of us, there's something else that brought us to the land of open houses and photo business cards. Or, at least, there's more that keeps us here.

I got my license in 2002 after never having worked in sales and wondering what I was getting myself into. I was determined to be successful but uncertain what it would take to get there -- and maybe a little frightened.

I will always remember a dear friend emailing to congratulate me on my new career path. She said, 'Shelter is one of the most primal needs we have and you are helping people find not just shelter, but home.' She suggested that this was a kind of spiritual calling.

It was a powerful context for what I viewed simply as a mid-life career change brought on because I didn't want to commute to Manhattan to continue working in my then-career, television production & design.

Truth be told, my neighbor sold his house and said that all his agent did was stick a sign in the ground and collect a substantial paycheck. I thought, "Surely I can do that!" And suddenly, a new real estate agent had earned his lockbox key.

But since then, I've realized that my friend was right. Being a real estate professional is a sort-of calling. (If there are any car salesmen in the room, I'll kindly ask you to step outside until you've stopped chortling.)

Think about it: We engage people in their most private realms. We know the secrets, fears, and aspirations of strangers. We are welcomed into the dark and sometimes shameful shadows of our clients' brokenness: divorce, financial ruin, dire health prognoses, the death of a family member... there are so many reasons people come to us to sell their homes.

Thankfully, the reasons are also often uplifting: new unions, new babies and job promotions. But frequently they're heartbreaking -- especially in these times.

In either case, the reasons are deeply personal and our entry into this intimate space, I think, needs to be informed with respect and humility.

So here I am, asking you -- with a special plea to restrain any soap operatic knee-jerk responses that this question may provoke -- and request that you simply respond with truth... aside from hoping to earn an honest living, Why Did You Become a Realtor?

As a profession, I think we take a good deal of abuse because of a relatively small number of agents who behave without ethics or caring. I am proud to say that the vast majority of agents in my marketplace are trustworthy, honest and deeply caring individuals whom I am proud to call my colleagues, and many, my friends.

Whatever may have brought me to this career, I can honestly say now that I am humbled by the stories of all those I have encountered: those looking to start anew, those hoping to repair or escape a living situation that simply was not working, those eager to begin a new chapter in their life.

What a small and insignificant role to play in the lives of others, and yet, one so vitally important.

Wanna buy a house? Or shall I say, How may I help you build a bridge to that next place where you will experience your life? 'Cause that's what we do.

Let's hear it. I really want to know: Why did you become a Realtor?

-------------------

Thomas McCormack
Broker-Manager/Co-Owner
Resources Real Estate

Looking to move to Monmouth County NJ. Search for new homes at my website.

Local Town Post Sales Gains

Thomas McCormack (Resources Real Estate) — Fri, 07 Oct 2011 06:58:57 -0700

Many towns in eastern Monmouth County are showing significant single-family unit sales gains year-to-date relative to last year during the same period. While the county overall is down 5.3% here are some of those towns that are "in the black" as of today:

Fair Haven: up 38.6%
Monmouth Beach: up 33.3%
Rumson: up 14.2%
Highlands: up 11.7%

Looking for a new home in Monmouth County? Visit my website for full search capability.

Resources Sales Are Up!

Thomas McCormack (Resources Real Estate) — Fri, 07 Oct 2011 06:21:56 -0700

Resources Real Estate single-family volume sales are up 12% year-to-date compared with last year during the same period! Congratulations to all those agents who continue to push thru and get the job done!

Spectacular Waterviews!

Thomas McCormack (Resources Real Estate) — Tue, 17 May 2011 22:26:50 -0700

120 Ocean Blvd

Atlantic Highlands, NJ 07716

Spectacular Waterviews!

Home Photo Gallery Virtual Tour Property Map Payment Info Request Showing Contact Me

Thomas McCormack

Office:732-212-0440 X212 Mobile:732-241-5695 Website:Visit Website

Price : $1,890,000 Bedrooms : 4 Bathrooms : 4 County : Monmouth Property Type : Detached Year Built : 2009 MLS Number : 21034256

click for more information and pictures

Property Description Truly spectacular waterviews from almost every room! Newly-built home provides the perfect remedy for your otherwise stress-filled life. With 4BR/4BA youll have space, comfort a new-found love for waking up! Open floor plan means never being left out of the party. Designed for entertaining, this home is functional & beautiful! Master suites on both flrs offer ultimate flexibility. Walkout basement w/ 10 ceilings offers even more possibilities. Walk to NYC ferry & town. Minutes to beach.

Words cannot accurately describe this special residence, so please call Thomas McCormack, Sales Associate at Resources Real Estate, to schedule a private viewing at 732-212-0440 x212. Be sure to see the additional photos in the photo gallery.

You can also visit www.ThomasMcCormack.com for additional photos & information of this listing and to search other homes including those that may not be listed on Realtor.com.

And be sure to download your FREE Mobile MLS Phone App so you can search all of Monmouth/Ocean MLS right on your phone! Or visit http://mobile.smarteragent.com/resources/thomasmccormack/ and enter your phone number Equal Housing Opportunity. Resources Real Estate : 112 East River Rd. - Rumson NJ 07760 : 732-212-0440 X212

A Useful Statistic to Understand: List-to-Sale Price Ratio

Thomas McCormack (Resources Real Estate) — Sun, 06 Mar 2011 21:01:12 -0800

I think most agents who have been around awhile would agree that pricing correctly is key in both getting the property sold and getting your client the highest return. For that reason, one of the statistics that I especially pay attention to is the list-to-sale price ratio which is the difference between the asking price and the closed price.

This statistic is very telling and of use to both buyers and sellers. Basically it helps you understand if an offer is worthy of serious consideration.

I have had many buyer clients in the past few years who think that an offering price of 20% off asking is totally reasonable. When they hear that the market is down 25-30% from the high they assume that the current asking prices are inflated by those percentages. When I give them accurate data on what the average list-to-sale price ratio is they are better able to put together an offer that they can negotiate and have a chance of getting accepted.

Similarly, with sellers it's important they understand this statistic as well. It is especially important to introduce these stats when first pricing the home, so there's a clear understanding of the potential range of offering prices and how to recognize an offer that should be considered and not rejected outright.

If you are pricing correctly, this statistic for your business should clearly reflect it. I'm pleased to say that in 2010 Resources Real Estate had a list-to-sale price ratio of 95.79% in 2010 for our sellers while the average list-to-sale price ratio for all Monmouth County real estate companies was 93.52%. That's a difference of 2.27%! For a $1 million dollar home sale, that's a savings of almost $23,000 that we provide our clients!

And so far this year we're doing even better with a list-to-sale price ratio of 97.59% thru February!

Resources Real Estate also has one of the highest average sale prices of any company in northern Monmouth County so we know we're not underpricing either.

So whether you are an agent, home buyer or seller, take some time to understand this statistic and use it to better understand the market, no matter where it's at.

Thomas McCormack
Broker-Owner
Resources Real Estate
112 East River Rd | Rumson, NJ | 07760
732-212-0440 www.thomasmccormack.com

Find your next dream home in Monmouth County, NJ!

Monmouth County, NJ, Sales are still Up!

Thomas McCormack (Resources Real Estate) — Sun, 06 Mar 2011 18:32:01 -0800

Monmouth County Sales Stats
Year-to-Date Sales Are Up

Year-to-Date (Jan 1st thru Mar 6th) Monmouth County, NJ, single-family sales show a 2.29% increase over the same period last year. That's a big jump from last week.

I'm hopeful we'll be seeing a strong spring market this year. Between the great values (prices are down!) and the great interest rates (rates are down but soon to go up!) we're definitely seeing new activity in the market.

Best of all, many of the buyers I've encountered of late are all relocation clients meaning someone is hiring them! My strong feeling is that as the job market strengthens so will real estate sales. All in all, I think 2011 is off to a strong start!

Thomas McCormack

Broker-Owner

Resources Real Estate

112 East River Rd | Rumson, NJ | 07760

732-212-0440 www.thomasmccormack.com

Find your next dream home in Monmouth County, NJ!

Accentuate the Positive

Thomas McCormack (Resources Real Estate) — Tue, 28 Dec 2010 12:23:04 -0800

Since joining Resources Real Estate in 2002, I have tried to provide a perspective to my customers and clients that is both thoughtful and accurate. I have also tried to focus on the positive things around me, leaving the negativity to others who seem to revel in doom-and-gloom.

Since coming on board as co-owner in September with additional responsibilities in managing our Rumson office, I have tried to instill this attitude and discipline among our team of agents, as well. Every Monday morning (with the exception of yesterday due to the distraction of clearing 2.5 feet of snow from my driveway) they've received an email with positive and current stats that reflect encouranging news in our marketplace - Monmouth County.

The impact of my "Monday Morning Mojo" has been very real as I've seen a number of agents engage in their business in a new and upbeat way. To be able to discuss current sales trends with accuracy and clarity is a powerful thing... it heartens the agent who has felt beaten down by the market and helps them communicate to their clients and friends that, in general, our market is improving.

There's a real hunger for signs that this economic downturn will pass. Just recently i was at an event where someone asked how the market was doing. When I told him that sales in Monmouth County were up from 12 months ago I thought he was going to hug me. And because the stats from my last "Mojo" were still in my head, I was even able to provide specific percentages. He was impressed - and his house isn't even on the market.

"Finally, someone with some good news," he said. "I'm so sick of everyone telling me how terrible things are." He asked for my card and wanted to know more about my company. I was clearly providing him with welcome encouragement.

As we move into 2011 I hope all of us can resist the temptation to dwell on all that is wrong and look with hope toward things that are right, or at least, show some signs of moving in that direction.

Thomas McCormack 
Broker Owner 
Resources Real Estate | 112 E River Rd | Rumson, NJ 07760 | 732-212-0440 
www.ThomasMcCormack.com

Search for your new home in Monmouth County, New Jersey.

Luxury Home Sales in Monmouth County Make Strong Rebound

Thomas McCormack (Resources Real Estate) — Tue, 28 Dec 2010 11:53:16 -0800

Much of this year we have been seeing that the strongest portion of the market -- the one with the most significant rebound gains have been in the high-end.

Luxury home sales have been showing big increases much of the year and this continued thru November. Year-to-date sales of single-family homes between $1. 5 - $2 million are up 22%. Above $2 million that increase jumps to almost 31%.

Thomas McCormack
Broker Owner
Resources Real Estate | 112 E River Rd | Rumson, NJ 07760 | 732-212-0440
www.ThomasMcCormack.com

Search for your new home in Monmouth County, New Jersey.

Monmouth County, NJ, Sales are still up thru November

Thomas McCormack (Resources Real Estate) — Tue, 28 Dec 2010 11:44:39 -0800

Monmouth County single-family home stats for the 12-month period ending in November compared with the previous 12-month period:

Dollar-volume are up almost 8% (+)
Unit sales are up almost 4% (+)
Average sale price is up almost 4% (+)
Median sale price is up 2.5% (+)
Available inventory is up 6% (-)

All in all year-end unit sales will probably end up flat relative to last year but the strong rebounding portion of the market is the luxury end... year-to-date sales of homes between $1. 5 - $2 million are up 22%, above $2 million that increase jumps to almost 31%.

Thomas McCormack
Broker Owner
Resources Real Estate
112 E River Rd | Rumson, NJ 07760 | 732-212-0440
www.ThomasMcCormack.com

Search for your new home in Monmouth County, New Jersey!

Monday Morning Mojo! Good News to Start Your Week!

Thomas McCormack (Resources Real Estate) — Mon, 01 Nov 2010 15:17:31 -0700

Resources Real Estate Sales Up Across All Categories
Highest in Three Years

Resources' overall unit sales (across all categories: SF, condo, AC, rental, etc.) for the 12 month period ending in September are up 21% over the previous 12 month period. In fact, it's the highest it's been in three years!

Dollar volume is also up.... 90% for the same 12 month period vs. previous 12 month period... also the highest it's been in three years!

Monmouth Sales are Up!
Volume Up Over 17%

On the county level, Monmouth County unit sales (across all categories) are up over 11% for the 12 month period ending in September over the previous 12 months. That too is the highest it's been in three years.

Dollar volume is up 17% for the same 12 month period vs previous 12 months... the highest in two years.

Thomas McCormack
Broker Owner
Resources Real Estate ~ helping you find your next home in Monmouth County!

Monmouth County Home sales are up! Resources Real Estate sales are up!

Thomas McCormack (Resources Real Estate) — Fri, 29 Oct 2010 13:59:27 -0700

Back issues of MONDAY MORNING MOJO! (this is from Oct 4, 2010)

Tired of all the bad news? There is good news out there -- kno about it!

Monmouth County Sales are Up! Amost 7% Increase
As of Oct 2nd, Monmouth County unit sales are up almost 7% year-to-date compared with same period last year!
Biggest gains are above $1.5 million (up 38%)!

Resources Real Estate Shows Year-Over-Year Gains: Significant Increase in Sales
Year-to-date Resources' sales are up almost 9% compared with same period last year as of Oct. 2nd!
Higher than increases for the county!

Thomas McCormack
Broker Owner
Resources Real Estate

Here to help you find your next home in Monmouth County.

Get Your Mojo On! Yes, Viriginia there is good news out there!

Thomas McCormack (Resources Real Estate) — Fri, 29 Oct 2010 10:19:47 -0700

Since becoming Co-Owner and Broker of Resources Real Estate last month, I wanted to help my agents see the market more clearly and not fall prey to the glut of bad news, pessimism and naysaying that is so pervasive. To help them thru it, every Monday morning they receive an email with real statistics that show real progress in the local real estate market.

I thought this information might prove useful to you as well and so I've decided to begin sharing them as well... stay tuned for Monday Morning Mojo!

Thomas McCormack
Broker Owner
Resources Real Estate

Here to help you find your next home in Monmouth County.

SELLING A COMMUNITY NOT JUST A HOUSE: Taking Real Estate Marketing Out of the Box

Thomas McCormack (Resources Real Estate) — Thu, 16 Sep 2010 14:33:18 -0700

Some ideas are considered “outside the box” just because they’re different. Others are outside the box because the box simply isn’t big enough for it.

When faced with a disappointing lack of awareness among local real estate agents about the many fine attributes of the town of Atlantic Highlands, NJ, one broker had a radical idea: educate them so they can better communicate the value of the town to their customers.

“I was thinking that Atlantic Highlands is under the radar of many agents,” said Thomas McCormack, broker at Resources Real Estate in Rumson, NJ. “And there’s so much here that’s unique and special that it required something out of the ordinary to get their attention.”

That’s when McCormack had an “aha moment.”

“An ‘aha moment’ is a sudden understanding – it’s an abrupt recognition of something that is right in front of you,” said McCormack. He took that concept, used it as an acronym (“AHa: Atlantic Highlands Access”) and created an event that he hoped would draw area agents to the town where they could experience it first-hand and learn about why their customers might want to move there.

With over 100 agents attending 30 open houses hosted by 15 different offices, it was clear this was an idea for which there was a very willing audience and it proved beneficial for the town, its businesses and homeowners hoping to sell their homes.

“Atlantic Highlands has a tremendous amount to offer,” said McCormack, “There’s a high-speed ferry to Manhattan, spectacular ocean and bay views, stunning Victorian architecture as well as brand new homes, a municipal harbor and a great downtown with fine dining options, great shops and a burgeoning arts scene.”

One reason for the event’s success was the support of the town’s chamber of commerce. When approached with the idea, Chuck Lero, head of the Atlantic Highlands Chamber of Commerce, quickly came on board. In a town with a small but vital downtown commercial district, the chamber was eager to flaunt the town’s strengths.

“We recognize that realtors can be instrumental in bringing new people into Atlantic Highlands,” said Lero who is also a loan officer with Two River Community Bank in town. “I think the event helped agents walk away with a deeper understanding of what’s here and that’s great.”

“Chuck and Sherilyn at the Chamber were instrumental in making the event a success,” said McCormack, “They helped coordinate the gifts and prizes we raffled off to the agents, provided a luncheon at the Indulgence Café, they even got the mayor involved – their help was hugely supportive.”

Hundreds of dollars worth of prizes from local merchants -- everything from ice cream and a movie to dinner at one of the many, varied restaurants in town, to gift cards to the local jeweler and eyeglass shop – were raffled off to the many agents who gathered at the Indulgence Café for lunch.

“It was very well organized and informative,” said Rosemary Beales, an agent with Heritage House Sotheby’s in Shrewsbury, “Every town should have one.”

While some might be surprised that agents from different companies would cooperate on such an event, apparently it came together quite easily.

“I wasn’t sure what to expect but when I put the idea out to agents with homes listed in town, the response was immediate and strong,” said McCormack. “In fact, even the morning of the event we had additional homes being added to the tour.”

“Best of all was hearing agents say ‘Atlantic Highlands really is a great place – more people should consider it’,” said McCormack. “That was the goal.” That and, of course, getting some of his clients’ homes sold. “Absolutely, this was also intended to help get my listings sold,” he added, “but I think sometimes we have to sell newcomers on the community and a lifestyle before we can sell them a house.”

----------------------------

Download flyer for event.

Thomas McCormack
Broker-Manager
Resources Real Estate | 112 E River Rd | Rumson, NJ 07760
732-212-0440 www.thomasmccormack.com

Search Atlantic Highlands' homes!

Atlantic Highlands: Teaching Agents About a Town They Don't Know Well Enough

Thomas McCormack (Resources Real Estate) — Mon, 13 Sep 2010 20:54:26 -0700

What do you do when you're in a market where the majority of agents have blinders when it comes to towns outside of their primary market area?

How 'bout, throw it a party?

In the northeastern part of Monmouth County where there are affluent towns such as Rumson, Fair Haven, and Little Silver, among others, that seem to monopolize the attention of many agents, some area towns suffer in comparison despite the fact that these towns have their own strong and distinctly different features.

Prime example: Atlantic Highlands.

Here's a town with incredible attributes:

A viable downtown area with great restaurants (Copper Canyon, AMA, Wine Bar), shops (I love The Flaky Tart!), movie theater and more.
Some of the most astounding views on the east coast with the highest point on the eastern seaboard - views of Raritan Bay, Sandy Hook, the Atlantic Ocean, NYC in the distance
Great architecture - reportedly the second highest number of Victorian homes in NJ after Cape May
A municipal harbor - a wonderfully protected harbor for boats large and small that provides easy access to the ocean, the bay and New York Harbor
High-speed ferry commuter service to Manhattan - I've had clients who were able to walk from their home to the ferry to their office in lower Manhattan and be sitting at their desk in under an hour.
Proximity to ocean beaches & immense parkland (Hartshorne Woods' 700+ acres of trails.)
A burgeoning arts community with music events (the monthly open mic), film events (FilmOne Fest of one minute films) and more.

You get the idea.

It's funny, Atlantic Highlands is the place I take any relocation clients I get moving from California and it's the place they inevitably say they want... even after I've shown them the more "affluent" area towns. Why? Because of the views, the sense of community and feeling of being in the heart of of natural beauty.

To try to educate our colleagues and perhaps (dare I say) sell our listings, a bunch of us agents with listings in Atlantic Highlands have banded together to create "AHa! - Atlantic Highlands Access" -- we're having a collective "Aha moment" and hopefully will clue others into what we know to be true... this town rocks!

When: Sept 14th 11-2pm
What: 28 houses open for brokers representing 15 agencies from great rentals to mult-million dollar homes
Who: Brokers & agents from all over Monmouth County
Where: Throughout Atlantic Highlands with lunch at Indulgence Cafe compliments of Chuck Lero / Two River Community Bank
Download the flyer.

The Atlantic Highlands Chamber of Commerce is supporting this and we'll have hundreds of dollars worth of prizes & gifts from local shops & restaurants.

If you're an agent who is less than familiar with this great town, I hope you'll join us. If you're not an agent, I hope you'll consider Atlantic Highlands next time you want to experience a wonderful small town with a lot goin' on.

And if you're thinking of moving? Definitely give me a call.... I'm happy to give you the tour.

Thomas McCormack
Broker/Partner
Resources Real Estate | 112 E River Rd | Rumson, NJ 07760
732-212-0440 x212 www.ThomasMcCormack.com

Search homes in Atlantic Highlands.

Monmouth County NJ Single-Family Home Sales Are Up

Thomas McCormack (Resources Real Estate) — Thu, 09 Sep 2010 21:03:56 -0700

Thought I would check in once again check in and see how the market in Monmouth County is doing and was pleased to see we're still in positive territory relative to last year for the same period. Single-Family home sales are up 10% from last year with a particularly large comeback for the above $1.5 million bracket.

As you can see, the $1.5 - $1.99 million range is up over 48% and $2 million and above is up 53%! Solid gains were also seen in the $550,000 - $700,000 range, each showing a more than 30% increase.

Perhaps most interestingly, the range with the least impressive results - largely flat or with slight decreases from last year's numbers - is the $250,000 - $450,000 range. I find this somewhat surprising given all the attention paid to the first home buyer credit which ended earlier this year... this price range would likely have seen signficant increases if the tax credit was a factor in our market this year. This bears out my experience which was that the tax credit was not playing a major role in getting buyers to take action, at least in my neck of the woods.

Modest gains? Perhaps. Moving in the right direction? Absolutely.

Thomas McCormack
Broker/Owner
Resources Real Estate
112 E River Rd, Rumson, NJ 07760
732-212-0440 x212
www.ThomasMcCormack.com

Search Monmouth County homes.