Frank Reali's Blog

Safari Realty Completes Transition

Frank Reali (Safari Realty) — Fri, 01 Aug 2008 12:46:01 -0700

The summer of 2008 has seen the completion of a two year transition plan for Safari Realty. When Safari Realty moved into their new facility at 1958 Victory Blvd in early 2006 the wheels were put in motion to create a mega office that would become home to the entire sales team. The 6,000 square foot office building with a central Staten Island location would allow Safari Realty to concentrate on providing the quality service that their reputation was built on by insuring complete utilization of its support staff. There were a number of obstacles that needed to be overcome.

Finally this year Safari Realty was able to end its long time relationship with a national franchise. Broker Frank Reali had decided that an independent Safari Realty would be in the best position to handle a changing real estate market. As an independent company Reali felt that Safari Realty would be able to best utilize its networking budget and continue building a recognizable real estate brand. Both Fran and Frank Reali have always been great supporters of the Staten Island Community and have participated in numerous fund raising efforts. There were numerous times when the franchise name confused the public as to who was behind the Reali's efforts. This confusion led to many customers and clients thinking they were working with Safari Realty but instead they were working with other franchise owners. Mr. Reali also felt that by leaving the franchise system he would be able to make better use of the royalty fees paid by creating better opportunities to reward their agents and have more networking dollars on the local level to insure full exposure for their sellers. Simultaneously Mr. Reali utilized programs on both the Staten Island Ferry and NYC Buses to promote the benefits of a new Safari Realty.

Safari Realty had designed their company web site in 1996 well before most other organizations and has utilized the internet to expand its marketing and networking efforts. At the present time Safari Realty uses over 25 web sites as part of its patented Integrated Internet Networking Strategy to promote their listings and bring a high volume of buyers for their properties. Broker Frank Reali had signed Safari Realty up for a company showcase program on Realtor.com to better promote the companies listings and its sales team. This program utilizes multiple photos, activated sign riders and headers as well as pictures and bios for the sales team. At the same time Safari Realty has taken advantage of the Staten Island Advance's online medium SILIVE.com to expand the exposure for their sellers. To complete a powerful triple threat every home listed with Safari Realty is placed on NYTIMES.com. While some real estate companies say they utilize the internet by being on one or two sites and then hopes their agents pick up the slack, Safari Realty has taken on the task of multi internet utilization allowing their agents the time to concentrate on working with sellers and buyers on a more personal individual level. An independent Safari Realty will allow even greater utilization of technology in the future. Blogs and other new social networking tools are being explored as to how these may be utilized to assist buyers and sellers.

The white stone building with green accents at 1958 Victory Blvd. provides great working space for the company with separate areas for the administrative staff, a private executive office, a main level computerized semi-private office space for top producing agents and the lower level for training, meetings and computerized workstations for newer and part time agents. There is something for everyone. Included on the lower level also is a spa/relaxation room and an exercise room to take care of the health of the team also.

With over 300 real estate companies on Staten Island, Safari Realty continues to be a leader ranking in the top ten for almost 20 years and presently number 6 in sales in 2008. Although the real estate market has gone through some dramatic changes since 2005, the sales team at Safari Realty has been prepared for it. The company intranet site is home for much of the research and development pieces that assist the sales team in performing their job. Statistical data going back over 10 years, market comparisons, forms, training information and a computerized listing presentation are just a few of the tools available to the team. This allows the agents to stay on top of their game and allows newer team members to quickly acclimate themselves to the company atmosphere. Since experience is such a valuable advantage to agents when dealing with the consumer the intranet assists everyone by allowing the company experience to be shared with the entire sales team and aids Safari Realty's customers and clients. How important is experience? At the present time over 30% of the Safari Sales Team are Licensed Associate Real Estate Brokers and many hold national designations attained through education and by reaching and maintaining a designated number of closed sales.

As part of your benefit package at Safari for buyers, sellers and agents the value added program includes:

Relocation Department

The relocation division which allows a one point of contact for one move or 500 moves anywhere in the world. Twenty seven years of experience with corporate moves, adult community assistance, job relocations or just a quality of life move make our A List Team the one to call if you are thinking of moving off the Island or back to your Staten Island home.

Foreclosure Division

The foreclosure division is headed up by an experienced licensed appraiser with years of bank owned property experience. From cash for keys, lockouts, true value pricing, negotiating the sale, maintaining the property and ultimately matching the buyers to banks approval. The process is complicated but with Safari's professional team it becomes a smooth transaction.

Short Sale Division

The short sale program at Safari helps homeowners who are facing foreclosure or having financial hardship with navigating the banks intricacy. Safari's advice is to not walk away from potential equity. Overwhelming circumstances can make you feel like throwing in the towel but don't give up. Talk with us before you make a life altering decision. Everyday is a new day. Let us help you through it.

Staging Division

Staging your home for a successful sale is an integral part of getting your home sold. Safari's staging program can increase the speed within which you can expect to get your home sold. Your Safari Staging Professional can assist you in making informed decisions about dressing your house for success.

Broker Fran Reali also announced that an Open House program that was started during the spring of 2008 will be enhanced this fall. Safari Realty will hold Open House Sunday's on alternating weekends starting in September. This will give buyers a better opportunity to visit Safari Realty's listings and create better exposure for our sellers.

Potential buyers and sellers are able to get a preview of the homes being held open by going to the company web site at www.safarirealtyonline.com. The list of homes plus photos and home details are in the web sites open house section. The Safari Realty web site attracts over 300,000 visitors yearly and registers over 6,000,000 listing views. You can not beat this kind of exposure to assist in getting your home sold. Safari Realty also places its listings in over 25 web sites to ensure maximum exposure.

Safari Realty office is located at 1958 Victory Blvd and is a member of the Staten Island Board of Realtors, Brooklyn NY Board of Realtors and the Staten Island Chamber of Commerce. Safari Realty is a member of multiple listing services on Staten Island and Brooklyn which expands the exposure of the company and its listings. Safari Realty is a sales leader on Staten Island and presently has over 65 licensed real estate sales agents or associate real estate brokers working from it's easy to reach and easy to recognize mid-island location. Safari Realty provides real estate assistance for buyers and sellers and also provides property management services through one of its divisions American Safari Property Management. Commercial assistance is provided through the Safari Commercial Division. To have your home listed with Safari Realty, to be included in the upcoming Open House Sunday's, to reach any of Safari Realty's award winning agents or get more information about the company you may call 718.442.5200 or e-mail us at info@safarirealtyonline.com. Safari Realty invites you to visit us on the web at any of the following sites, www.safarirealtyonline.com, www.statenislandrealtor.com www.americansafaripropertymanagement.com, www.safarirealestate.com, and www.sirealty.com. You can also plan your open house searches at these sites as well as see over 4,000 homes for sale in Staten Island and Brooklyn. So remember, if you are looking for a REALTOR who can help you with all your real estate needs, "at Safari, we can do that".

How May Rising Interest Rates Affect Real Estate Sales

Frank Reali (Safari Realty) — Wed, 30 Jul 2008 08:23:23 -0700

How May Rising Interest Rates Affect Real Estate Sales This study is done based on a $375,000 sale price with 20% down ($75,000). It is assumed that the buyer has no trouble qualifying as the rate increases. Cost/$1,000 Rate Payment $ Increase in Payment $6.00 6% $1800.00 $6.08 6.125% $1824.00 $24.00 $6.16 6.25% $1848.00 $24.00 $6.24 6.375% $1872.00 $24.00 $6.32 6.5% $1896.00 $24.00 $6.40 6.625% $1920.00 $24.00 $6.49 6.75% $1947.00 $27.00 $6.57 6.875% $1971.00 $24.00 $6.65 7% $1995.00 $24.00 In the above instance the overall payment increases a total of $195.00 as the rate increased from 6% to 7%. This next instance shows a similar study. In this case though it is assumed that the buyer can only qualify for a monthly payment of $1,800.00 a month (without taxes and insurance). Cost/$1,000 Rate Payment Mortgage Amount $6.00 6% $1800.00 $300,000 $6.08 6.125% $1800.00 $296,050 $6.16 6.25% $1800.00 $292,210 $6.24 6.375% $1800.00 $288,460 $6.32 6.5% $1800.00 $284,810 $6.40 6.625% $1800.00 $281,250 $6.49 6.75% $1800.00 $277,350 $6.57 6.875% $1800.00 $273,970 $6.65 7% $1800.00 $270.680 In the above instance it is assumed that the down payment of $75,000 stayed constant. The buying power of this buyer fell almost $30,000. If the buyer cannot come up with more down-payment the price of the house they are buying would have to fall to $345,680. If the down payment stayed at 20% the price would fall to $338,320 since the buyer would only put $67,670 down. The reason for this study is to get a better understanding of the perils involved in a real estate market that is experiencing rising mortgage rates. This is not intended to force prices down, nor scare sellers into taking less than they desire for their home. It is intended to give the seller a better understanding of market conditions today and in the near future. Depending on each sellers individual financial position and each sellers individual reason for selling at this time, the information may assist in helping the seller decide whether they should accept an offer today or wait for something better. It also is important for buyers to understand how interest rates will effect their future decisions. As rates rise, monthly payments increase also. Without a price drop that means a buyer may be priced out of the market. A buyer must make a decision as to when is the interest rate and house price at the optimum number to make the most sense to purchase. With the present low rates and recent home prices experiencing a correction this may be a good time to consider a purchase. In previous times of market fluctuation we saw instances where accepting or declining an offer had both positive and negative results for both buyers and sellers. No one can predict the direction that the real estate market will take over the next few months but having a variety of information will give everyone the confidence to make an informed decision.

When Is The Right Time To Buy Or Sell?

Frank Reali (Safari Realty) — Wed, 16 Jul 2008 08:15:06 -0700

When is the "Right time to buy or sell"

In today's real estate climate this is a question that is on everyone's mind; but if you have been around for a while you would know that this is the same question that is on everyone's mind all the time.

It is pretty easy to say you buy when the price is lowest and you sell when the price is highest, now that was simple. Of course who will you sell to and who will you buy from if everyone subscribes to that mantra.

Most people make real estate decisions based on need. Questions like what do I need now and how will this improve my quality of life dictate many purchase and sale decisions. In many cases the real estate climate plays only a small part in the decision.

An apartment may be too small, a new child is on the way, a recent marriage is making things crowded; these may all be reasons for that first purchase. Maybe the starter home is getting cramped and you need more space, a good reason to sell. A recent pay increase may create the opportunity to explore a larger home, selling and buying. A job transfer or a decision to retire may be a great reason to explore options elsewhere. On a daily basis buyers and sellers make these decisions and come up with the right answer to the question; today is the best time for me to buy or sell.