Joseph Cacciapaglia

I want to start off by saying that I would never criticize anyone for working two jobs to make ends meet or to get ahead, but what I don't understand is why so many people choose being a real estate agent as a part-time job. I think that if you are any good at all as an agent, you can make more money than at just about any occupation there is. Maybe if I were a professional athlete I would consider real estate as a part-time gig, but short of that, I'm sticking with this full time.

Why does this matter to you, the home buyer or seller? Well first of all, I think that by doing this job all day every day, I am able to keep up with all of the changes in the market place better than most people who only do this a few hours each night and on weekends. I also believe that there are often times when it is important to be able to respond quickly to a clients needs. For example, right at this moment I have a home listed for sale and there are two agents that both have buyers that submitted offers. My clients are in a situation where they would like to make a decision quickly, and once I presented both offers to them, they asked me to call back both agents and discuss the terms of the offers. In this case the closing date is very important to them.

Well, I was able to immediately speak to one agent and quickly get feedback to my client, but the other agent has a full-time job other than real estate and was slow in getting back. The offers were very similar, and we almost just went ahead with the slightly lesser one because my clients were anxious and wanted the decision to be over with. Now luckily for my clients, the part-time agent was as on top of her game as possible, and get back to me this afternoon, but it could have just as easily gone the other way.

I guess what I don't understand is why you as a buyer or seller would work with a part-time agent when a situation like this could cause you to miss out on a great opportunity. Why take a chance when there are plenty of fantastic, full-time agents to hire?

If you are looking for a full-time agent, please give me a call today.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com

I was speaking with a delightful women this morning about possibly selling her house as a short sale. She is behind on her mortgage, and the home is probably worth $20-30K less than what she owes. Although she had tried to speak with her bank before, after we discussed a short sale, she decided that she wants to try one more time to get her loan modified. This is perfectly fine with me, and I always let people know that I'm happy to help them in any way that I can, but whenever I hear this it always surprises me. I understand being emotionally attached to a home, but what a lot of people don't realize is that if their house is only worth $130K, and they owe$160K, they are basically asking their bank to sell them their home for more than it's worth. If the same homeowner negotiated a short sale, and 6 months later was able to get their finances in order, they could buy the same or a similar house for $130K, or maybe a little more if the market had some appreciation. I know that I wouldn't buy my house today for more than market value, but I guess that it might be because I haven't raised any kids in it yet. As always, selling a home is both an emotional and a financial decision.

If you need help weighing your options, please give me a call today.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com

I was speaking with a potential seller of a couple of multifamily properties in Camden County that I am considering purchasing. One of the things that came up was capital gains and 1031 exchanges. Please keep in mind that I'm not an attorney or a CPA so I'm not giving you legal or tax advice here. He mentioned that he was not able to participate in a 1031 exchange for reasons outside of this transaction, but still wanted to minimize his capital gains exposure. At this point I brought up the idea of using OP (operating partnership) units or taking back seller financing to spread his gains over time, and possibly reduce them. Often at this point sellers will get a little nervous and standoffish. This is understandable because there are a lot of people out there who claim to be investors, but can't actually buy anything unless it's 100% owner financed. I was glad that in this situation that wasn't the case. The seller was a sophisticated investor and understood that there are often ways to maximize both of our returns by structuring the purchase/sale creatively. We haven't come to an agreement yet, but because we are both entering this negotiation with an open mind and flexibility, I'm optimistic about us reaching a mutually beneficial agreement.

If you are interested in selling your apartment building or multifamily investment property in Camden County, and you would like to explore all of your options, please give me a call.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com

Yesterday I was speaking with another agent in my office about negotiating, and the topic of silence came up. This is one of the true secrets of success in face to face negotiations. The secret is that after you have stated your case and asked for what you want, Shut Up. I've often read, and seen in practice, that the first one to speak after an offer in made loses. Sometimes I'm amazed at the power of this technique. I was speaking to a potential seller about a property that I was considering purchasing earlier today, and after he stated his asking price I just stayed quite. After a few moments, without me saying a word, he was defending the price, and actually lowered it on the spot. This isn't the first time that I've experienced this, but it still amazes me how this simple technique really works. I think it's often because people are uncomfortable with silence, and most people are uncomfortable negotiating in general. They start talking to try to relieve the tension, and inadvertently they give up more than they had planned.

This technique is more difficult to employ when acting through an agent, but similar tactics can be used. this is one reason why it's important to hire an agent who is well versed in negotiating to represent your best interest. Give me a call if you'd like help negotiating your next purchase or sale.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com

I've had an interesting experience over the last several days. It started late last week when I sent out a direct mail piece to all of the multifamily property owners in Camden County. In addition to being an active real estate agent, I'm also an investor in small apartment buildings, so I sent out a letting saying, 'I want to buy your Camden County Apartment Buildings'. I thought that I had made it very clear that I was looking for properties to invest in on my own, and that this wasn't a bait and switch ploy to get listings. Well I guess many investors have been duped before, because I have gotten several calls, and every single one of them starts off with, "I'm not listing this property with you!" To a person, they were very suspicious of my motives. I just think that this just shows how few people trust real estate agents. My goal is to convince at least one person each week that there are real estate agents out there that are honest. I don't think that this is a lofty goal, but my experience this week makes me wonder.

If as you were reading this blog you were thinking, 'I've never met a trustworthy real estate agent', please give me a call so I can introduce myself, and change that.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com