Realtors Who Know Their Real Estate - Chamber Chat - Jan. 2012
Chamber Chat is a monthly Today's Sunbeam feature that profiles Salem County Chamber of Commerce business members and the advantages they offer consumers who shop locally. Chamber Chat appears on the first Monday of the month.
Address: 70 N Broadway, Pennsville,NJ 08070
Phone 856-678-HOME (4663)
e-mail: askchris@coldwellbanker.com
Services provided: Residential & commercial consultations, sales and rentals; educating, coaching & training for licensed Realtors
Issue: This month we spoke with Chris Hooks with Coldwell Banker Pino Agency and member of the Chamber of Commerce Board.
T.S.: Tell us a little bit about Coldwell Banker Pino Agency.
The Coldwell Banker Pino Agency is owned by Joseph F. Pino who has been in the Real Estate business in South Jersey for over 40 years. He currently has 2 offices, one in Pennsville and one in Elmer, staffed by over 40 Realtors and 3 administrative assistants. Chris has been licensed since 1993, working with the Pino Agency for all of those years. Joseph and Chris have recently opened 'The South Jersey Real Estate Academy' in order to offer the NJ Real Estate prelicensing course and continuing education classes here in Salem County. The Pino Agency prides itself on having the best trained agents in Salem County.
T.S.: What is the state of real estate, both buying and selling in Salem County?
It's my opinion that Real Estate in Salem County is experiencing what is known as "a bumpy bottom". The average/median prices may go up a tad one quarter and then down a bit the very next quarter. Currently, the median sale price in the county is $147,500. There are approximately 721 active listings for sale with 17 under contract. We are planning on and hoping for better numbers in 2012.
T.S.: Has the recent economic situation impacted your business? In what way?
We actually noticed a downward turn back in 2005, with less units settling that year than the year before. 2006 brought a more dramatic downturn. I think a lot of consumers did not realize how badly the market was affected until 2007 - 2008. Yes, 2008 got everyone's attention. As we ring in 2012, we are hoping for and anticipating a slow, modest improvement. Real Estate drives the economy so it's very important for our market to recover. It will lead the way for everything else.
T.S.: What are some tips you can offer the public when buying or selling a house in today's economy?
It is very important to do research and gather facts now-a-days, more than ever. Buyers and Sellers should be sure to interview Realtors prior to hiring them. The fastest Realtor is not necessarily the best one to hire. Experience and knowledge matter.....hands down. Foreclosure and short sale experience are especially important as approximately 30% of our market deals with these kinds of files. A Realtor needs to understand how to best navigate through the short sale/foreclosure process to advise consumers properly. Bad decisions can cost tens of thousands of dollars and that is not an exaggeration. It is also very important for Sellers to be careful to price their homes to fit into the current market....not to try to hold onto the value their property had in the past. When our market does recover, the sales volumn will improve first, but it may take several years for prices to begin to rise again.
T.S.: What is one thing that the public may be surprised to know about Coldwell Banker Pino Agency?
I think the public would be surprised at the hours we devote to advanced training and education, not to mention the dollars we invest in this continued learning. I believe our roster of agents has more designations and advanced certifications than any other Real Estate company in Salem County. For instance, I have just been awarded the 'Certified Residential Specialist' (CRS) designation while Joseph Pino has obtained the 'Certified Residential Broker' designation. I am also a graduate of The Real Estate Institute (GRI). We have 4 licensed Brokers on staff, a 'Senior Real Estate Specialist' (SRES), several 'Accredited Buyers Representatives' (ABR), an 'At Home With Diversity' specialist (AHWD) as well as 'Certified Negoiation Specialists' (CN), too. I am now working on the 'GREEN' designation in order to provide sound advice to my clients about energy savings. If knowledge truly brings power.....then we have a lot of power to bring to the table to utilize for the benefit of our clients.
T.S.: As a business, you are very community oriented. Tell us about some of the community activities that you are involved in.
I have been on the Board of The Pennsville Public Library for over 18 years, serving as it's President since 2007. The Library has been a part of Pennsville Township for nearly 75 years. Dealing with severe budget cuts has been a new and troublesome challenge, but we are making headway slowly but surely. I am also a member of The Pennsville Women's Club. This vital club has been in existence for over 70 years, as well . I like the tradition, longevity and value that both these organizations offer to the community. They both add to what is special in Pennsville Township. In 2009, I founded the Pennsville Business Association as part of my work on the Pennsvill Economic Development Committee, which I served on for 3 years. My hope is that the business association will form a solid foundation for commerce in our township as well as aid our fellow residents with various projects around town. I recently rejoined The Girl Scouts as "Community Partner" in order to help the senior scouts with their Silver and Gold badges. I was taught as a young scout to leave a place better than how I found it and that is exactly what I am trying to do.
T.S.: Why is Coldwell Banker Pino Agency a member of the Salem County Chamber of Commerce and how has it helped your business?
I have been both pleased and honored to serve on the Board of Directors at The Chamber of Commerce. As a member, I can see first-hand all of the education and networking opportunities that are provided for the Chamber members. As a Board member, I now see all of the hard work, budgeting and planning that goes on behind these opportunities. It always impresses me when a volunteer board can accomplish so much. I have often traveled across the country for corporate business conferences and advanced training. I see clearly that we have polished and educated business professionals right here in our own backyard. The Chamber allows us to meet them and to learn from them.
For instance, I enjoy blogging and social media as an important part of my Real Estate business. The Chamber has asked me to share what I have learned about these topics at a workshop on Jan. 13th, 2012. There are a few of us 'bloggers' in Salem County, but we could sure use more to spread the word about all of the treasures we have right here at home!
For more information visit: www,salemcountyrealestateblog.com
and The Salem County Chamber of Commerce
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