Caroline Gosselin

In the Northern New Jersey real estate market, an agent negotiates all the time. You negotiate for your clients (i.e. price, allowances, contingencies, timing, earnest deposit, payment of financing/closing costs, personal property included/excluded, deadlines, etc.), with other agents (e.g. referral fees and co-brokerage fees), as well as with third parties (i.e. attorneys, home inspectors, appraisers, title companies, etc.). Then when you become successful you can even negotiate with your broker (i.e. commission splits, monthly fees, advertising costs, etc.).

In a field rife with competition, it’s important to keep up your credentials, but ultimately, my primary goal in every transaction is to protect my clients’ interests. So in December, I was one of the first batch of New Jersey Realtors who earned one of the top new designations in real estate - Certified Negotiation Expert (CNE). The class was very substantive, and contained an analytical framework for many different types of negotiations, in the context of real estate, as well as life in general.

Competitive Bargaining, Collaborative Negotiating, Psychology of Buying, and Persuasion Principles are among the topics covered in the course.

We are just entering the initial stages of the Spring real estate market season, which analysts are optimistically predicting to be busier than last year due to pent up buyer demand. As a local Realtor with Coldwell Banker Residential Brokerage and a Certified Negotiation Expert (CNE), I am going to share some tips for dealing with the inevitable “low-ball” offer that sellers will get on their property.

Picture putting your Maplewood, New Jersey home on the market for $550,000 and you are confident it's well-priced. You are thrilled when you get the call from your realtor a few days later stating she has received an offer and would like to present it to you this evening. You leave work early to get home and meet with your realtor and you simply can’t believe it – the buyer offered $500,000. You're stunned and disappointed.

If your first instinct is to feel insulted or hurl an epithet - don't! You can still end up with an acceptable sales price. According to Jeffrey Stanton, a nationally recognized speaker and Certified Master Practitioner in Neuro-Linguistic Programing, the key is being ready:

Tip #1: Work with an agent who will prepare and educate you.

It is critical for sellers to be prepared for the possibility of an unacceptably low offer. This is the job of the seller's (listing) agent -- managing expectations and emotions -- and too often this particular educational task is overlooked, with uncomfortable, potentially time-wasting results for all.

Most agents wait for an offer and say, 'oh, shucks, now I'm going to have to present this to my seller’. Not only should the agents tell the homeowners to be prepared for a low offer, they need to come to agreement on just what constitutes "low-ball."

Each market is going to be totally different. It may be 5 to 10 percent below list in one market and 30 percent below list in another. That's a unique conversation that has to happen between a seller and their listing agent.

Tip #2: Never take an offer as being offensive or disrespectful.

“Low-ball” offers may have any number of motivations, and sellers shouldn't automatically presume they stem from the buyers’ desire to be insulting.

Let me preface this by saying that I work about 60/40 with both sellers and buyers. So I know firsthand the "pain" of a “low-ball” offer from the seller's point of view. They come across at first like a slap in the face. But if you are a calm, experienced agent, who knows your marketplace, you can make them work. I love to give the example of a house I had on the market this time last year. The buyer and the agent who wrote the offer were not from our market area and didn’t understand the market place. The offer came in 20% below the list price.

Having listed and sold several of the comparable homes in Maplewood myself, I asked the agent to provide the comps she used. She was completely off the mark with her choice of comps. When I showed her the actual comps, she went back to the buyers and we were able to work through a decent compromise. Turns out this buyer didn’t want to be insulting, they were just mis-educated on the market.

Other times, a “low-ball” may be all the buyers can afford. It could be an investor or a buyer looking to steal the property, or a buyer who really likes your property and is just taking a shot at it, never knowing if you're going to say yes or no. Some listings stay on the market for months without any offer. Some sellers would be happy to get even a “low-ball” offer! So don't take a “low-ball“ offer personally, it’s purely a business transaction and your realtor is there to help you keep emotions out of the transaction.

As a buyer's agent, I have stopped discouraging buyers to go in low with their first offer, except when I know the house is newly listed, well priced and it is clear that there will be multiple offers. In those cases, you need to be competitive, but that's for another blog.

Tip #3: Do not ignore an offer, counter regardless how low.

Some negotiators suggest not responding when an offer seems out of line in order to make the point that the offer must be increased considerably. The risk you take, however, is that the buyer may become confused about the sellers motivation and walk away.

The goal is to keep the lines of communication open, so it is important to come back with something, anything. It doesn’t cost anything to make a counteroffer. If the house is listed for $550,000 and the offer is $500,000, the seller may want to counteroffer at $545,000, just to see what the buyer is going to do. You may be surprised by how many buyers come up considerably the second or third go around – you just need to get them there.

Tip #4: Pay attention to the next move, it will be revealing.

In the example above, the next move can be revealing. One of the signs in negotiations is how much of a move the other party makes. In general, the smaller the move, the closer that person is to their goal.

Take the aforementioned counteroffer of $545,000.

· If the buyer responds with $505,000, it can be interpreted as the buyer not having much price flexibility.

· If the buyer responds with $520,000, that's a big move. If the countering continues but the buyer goes up to $522,000, they may be likely nearer their limit or still hoping to effect a stronger reduction from the Seller.

Tip #5: Be willing to have the buyer’s Realtor present the offer in person.

Sellers sometimes prefer to have the offers presented by their listing agent. However, if the buyers’ agent says they are going to present an offer on my listing that's significantly below the asking price, I usually require that the other agent present that offer in person to my clients.

If it's a true “low-ball” offer where the buyer is just fishing for a price and the agent is aware of that, it might speed things along if the agent's presence is required rather than just faxing the offer. The buyers’ agent will likely say, 'let me get back to my buyers’. It's called a problem transfer. We take the problem - the low-ball offer - and transfer it to the buyers’ agent. Often times, that $500,000 offer has turned into a $520,000 offer by that evening without even starting negotiations. This often actually works.

Since taking this course of action, I enter negotiations better equipped and achieve better results for my clients. As a Certified Negotiation Expert (CNE), I have a valuable competitive advantage that helps to differentiate my services in the real estate marketplace.

My prediction for 2012: CNE agents will be the most in-demand Realtors in their local markets.

If you have any real estate questions, please do not hesitate to contact me. I can be reached via email gosselinhomes@gmail.com or via phone at (973) 985-6117. Please also feel free to browse my website for information on Northern New Jersey real estate at www.GosselinHomes.com or join my Facebook Business page www.Facebook.com/GosselinGroup for local market updates and community information on towns, such as Maplewood, South Orange, Millburn, Short Hills, Livingston, West Orange, Springfield and Summit.

This blog post was featured in www.Patch.com in a two part series. Read Part I and Part II here.

Do you live in Maplewood, New Jersey and admired a beautiful landscaping job, new façade, new paint job or other touch of individualism on the outside of a unique home and then wondered… What’s Inside That House?

Well for those of you who are curious to see what’s inside… mark your calendars for this Sunday May 1st when the Maplewood Rotary Club is hosting its 20th Annual Maplewood House Tour.

Five amazing homes will be displayed with a variety of architectural styles ranging from landmark to brand new additions, each having their own exquisite décor reflecting the owners’ lives and personal taste. Docents will be on hand to explain the history of each residence and answer any questions.

"People can just come in, admire, and be inspired," says Caroline Gosselin, Maplewood Rotary Club event co-chair.

The houses can be visited at your own pace between 1 to 4 pm. A map highlighting the locations (top secret until the day of the event) will be printed on the tickets. Tickets are $20 in advance and $25 at the door. Last-minute tickets be purchased at local merchants the day of the event.

Tickets can be purchased for $20 in advance online at www.maplewoodhousetour.eventbrite.com or from any participating local merchants:

Perch Home, 9 Highland Pl.

No. 165, 165 Maplewood Ave.

Coldwell Banker Realtors, 151 Maplewood Ave.

Coldwell Banker Realtors, 545 Millburn Ave.

Weichert Realtors 697 Valley St.

Millburn Pet Shop 168 Millburn Ave.

All proceeds from the house tour benefit the Maplewood Beautification Fund. Over the years you have seen the Rotary’s donations in Ricalton Park with the installation of the Maplewood town clock and chess table as well as benches on Highland Place, Ricalton Square’s Holiday tree and the Maplewood Entryway signage, to name a few.

The house tour will be a delightful way to spend a Spring Sunday. When the tour is finished, why not enjoy a meal in one of the restaurants downtown and then finish shopping for that Mother’s day gift at any of our local shops?!

Check out Patch’s feature on the event: http://maplewood.patch.com/articles/maplewood-house-tour-coming-may-1

Buy tickets: www.maplewoodhousetour.eventbrite.com (even if you can’t come, buying a ticket supports our cause!)

For additional information please call Caroline Gosselin of Coldwell Banker realtors at (973) 985-6117 or email her at GosselinHomes@gmail.com.

Here is a little sneak peak at the featured homes:

Suppport the local Maplewood Rotary Club and "LIKE" our Facebook page:

https://www.facebook.com/pages/Rotary-Club-of-Maplewood-NJ/160490080636681

If you are looking for a home in Northern New Jersey then you should absolutely not leave Maplewood, South Orange or Millburn / Short Hills off your list! These communities are a short commute to New York City on the Mid-Town Direct train line and boast charming homes, tree-lined streets, plenty of outdoor activities, and inviting downtown centers.

If you are driving from NYC, hop on 78W around 11 am, have lunch at any of the recommended spots below and then hit a few open houses in your price range! Who knows, maybe today will be the day you find the one!

Sunday Open House list for Maplewood, NJ:

http://emailrpt.gsmls.com/public/show_public_report_rpt.do?report=clientfull&Id=60215508_384777

Lunch spot recommendations for Maplewood:

Arturo's Pizzeria, St. James Gate, Coda, Maplewood Deli & Grill.

Read all about Maplewood here.

Sunday Open Houses for South Orange, NJ:

http://emailrpt.gsmls.com/public/show_public_report_rpt.do?report=clientfull&Id=60215520_384777

Lunch spot recommendations for South Orange:

Town Hall Deli, Toro Loco, Cafe Arugula, Cait & Abby's

Sunday Open Houses for Millburn / Short Hills:

http://emailrpt.gsmls.com/public/show_public_report_rpt.do?report=clientfull&Id=60215521_384777

Lunch spot recommendations for Millburn / Short Hills:

Millburn Deli, Basilico, Cafe Luna, Millburn Diner

__________________

I hope you enjoy your visit to NJ and if you would like more information on any of these properties - do not hesitate to call me at (973) 985-6117 or email me Caroline.Gosselin@CBmoves.com.

I am a licensed full-time realtor with Coldwell Banker Residential Brokerage.

If you email me the MLS # or address for any of these properties, I can I can download the property disclosures, find out how much the owner paid for the home and the property history for you.You can also browse my website for more information on the towns and local market trends: www.GosselinHomes.com.

Come Explore New Jersey!

Roughly 18 miles west of New York City, Maplewood, New Jersey prides itself on being a diverse and family-friendly community. A number of surveys have ranked the town among the most desirable places to live in the United States. A few years ago, Money Magazine designated Maplewood, NJ as One of the Best Places to Live. They went to write, "A 30-minute train ride from Midtown Manhattan; Maplewood, NJ is a favorite compromise for city people who also want good public schools and their own yards. The town has a palpable sense of community and residents prize its diversity.”

There is so much to love about this town. The four-square mile township has beautiful tree lined streets, and an eclectic mix of Victorian, Colonial and Tudor homes. Maplewood’s downtown, known among residents as "the Village," is full of unique restaurants (among my favorites are Arturo’s, Coda, St. James Gate, Maplewood Deli & Grill) and boutiques (Perch Homes, Little One, Hopscotch and No. 165). It also has several coffee shops, a quaint supermarket, a fresh fish market, a great bookstore (Words) and even a movie theater.

The layout of the village hasn’t changed since the 1950s, which is what gives it its charm. The close-knit, small-town, yet hip and urban feel is what attracts most people to Maplewood. In fact, you would be shocked by how many Manhattanites and Brooklynites have and still are making the move out here. There are several Yahoo groups devoted to moving to our burbs! Stay tuned for a new website I will be launching in the Spring of 2011 www.BrooklyntoNJ.com, which will have all the information you need if contemplating a move from the city to the beautiful New Jersey suburbs of Maplewood, South Orange or Millburn / Short Hills. It will also feature a helpful list of Q & A’s I’ve been compiling from people making the move over the past few years.

Enjoying the great outdoors in Maplewood is easy. The town has 6 public parks and, along with neighboring towns, borders the South Mountain Reservation - a 2,000+acre nature preserve with hiking trails, deluxe dog parks and shaded picnic areas. Maplewood is easily accessible via I78, which also makes it easy to head West for interesting day trips to Bushkill Falls or New Hope, PA, or go Fall pumpkin and apple picking on quaint farms in beautiful Chester, NJ. Options are bountiful.

Commute-wise, it doesn’t get better than Maplewood. The town is on the Mid-Town Direct Train Line to New York City. Most residents commute daily to the city and if you check out www.NJTransit.com, you will see that some of the morning express trains get you to Penn Station in 29 minutes!

For those not within walking distance of the train station, there are two options – you can eithe purchase a parking permit from the town and park at the designated areas near the station or you can hop on the town subsidized Jitney bus, which picks up residents along a select route and takes them to the station during morning and evening rush hours. You can find an interactive Jitney map published here on Patch.com.

The School District of South Orange and Maplewood serves more than 6,400 students in nine schools, including six elementary schools, two middle schools and one high school. The community and its schools are racially and economically diverse and proudly send more than 91 percent of Columbia High School graduates to college each year. Columbia High School has a reputation for academic excellence and offers advanced placement, college prep and vocational courses as well as classes in film making and journalism. Columbia offers 25 extra-curricular clubs ranging from astronomy and chess to fencing. It also has students participating in 23 varsity sports. In fact you can take a look at the following Fact Sheet put out by the school district.

Maplewood is a very civic-minded community. There are a plethora of groups and organizations to join and support - including the Maplewood Rotary Club, the South Orange / Maplewood Community Coalition on Race, the HK Community Fund, as well as a strong and vibrant local chapter of Mothers & More with 500+ members. The township and residents also organize some great annual events such as Maplewoodstock, Maplewood Green Day and the Artists Studio Tour.

As NJ Monthly magazine pointed out in an article last year, Maplewood has put hyper-local blogging on the map. Many community sites and blogs provide a healthy mix of news, events and discussion. Some of these sites include www.patch.com, www.baristanet.com and until recently the NY Times - The Local Blog. You will also find lively discussions on www.maplewoodonline.com. Next time you are in town, I recommend yuo pick up a free copy of Matters Magazine - also a great source for local information.

Intrigued in Maplewood, NJ yet? If so, I hope you won’t hesitate to contact me for more information. My job is about sharing what I know to help clients make informed choices – not only about local market statistics and trends, but about the towns, neighborhoods, people and businesses that makes Essex county a unique place to live.

Please visit my website www.GosselinHomes.com or join my Facebook Page “Caroline Gosselin – Premiere NJ Real Estate” – where I am always posting new listings, open house announcement, market data and more!

Here are a few more pics of our charming town of Maplewood, NJ...

Maplewood Fire Station

Maplewood's Memorial Park

OK Active Rainers – I need your VOTE to help me win a contest!

Voting ends at Midnight on Monday September 13th!!!!

I am a Realtor in Maplewood and Short Hills New Jersey and my company, Coldwell Banker, is having its annual Business & Technology Fair next week. It’s a huge event being hosted at the Liberty Science Center in Jersey City.

The day will be filled with informative panel discussions with titles like “Maximizing Your Web Potential,” and “Social Media Made Simple.” Should be some good stuff and if I learn anything valuable… maybe I’ll BLOG on Active Rain about it! The day will end with a tricky tray for charity and an I-Max movie!

In anticipation of this event, they have created a CONTEST to increase exposure for one of the technology tools they offer CB agents called RealBiz360. The program creates virtual tours which you can personalize – usually used to showcase listings or feature a community. For the contest, they added a VACATION category and the agent whose virtual tour gets the MOST VOTES will WIN a NEW DIGITAL CAMERA!

The tour I created was of my son’s first trip to France when he was one. The short slideshow includes beautiful photos of France and Switzerland (and my son!) accompanied by a few humorous comments… so the worse that could happen to you is that you have a good laugh!

So, please, please, please follow 3 SIMPLE STEPS and help me WIN! It takes just a couple of minutes!

1. GO TO www.RB360-CBRB.com and click on “Contest Gallery” and then the “ Vacation” tab. OR just click below:

http://www.rb360-cbrb.com/VacationsGallery.html

(You don’t need to log on or enter any of your information)

2. Then you will see my name #25 Caroline Gosselin – click on it to WATCH the VIRTUAL TOUR (2 minutes)

3. Go back to the main page and click VOTE. You will be prompted 3 questions. Here are the answers:

Tour Category: Vacation

Tour Name: Ready, Jet-Set, Go

Tour Number: 25

Thank you so much! Remember... Voting ends at midnight, Monday September 13th!

And if you ever need to refer a client to a Realtor in Essex County (Northern New Jersey) … at least now you know of one that is pretty good with technology and has a sense of humor!

Thanks in Advance!

Caroline