Haute Residence hosted a webinar with three leading Compass real estate agents in the New Jersey and New York area , all leaders of their own teams under the umbrella of the industry giant.
Kristin Ehrgott (Hoboken, Jersey City, NJ), Margaret Miggins (Northern New Jersey), and Michael W. Stanco (Long Island, NY) were hosted by Haute Living's Seth Semilof in a conversation that touched upon their markets and how each has changed in the last few months of quarantine. Ehrgott leads the Live Here Property Group, Miggins is head of the Maggie Miggins Group, and Stanco is head of The Stanco Misiti Team.
Watch the webinar below.
As Haute Residence continues its industry-leading series of real estate webinars on the latest in the industry with top agents, brokers, developers, and experts, we invite you to join us in our upcoming webinar:
Tuesday, June 16th at 4PM EST / 1PM PST
Natiivo Miami and the Evolution of the Built Environment in Miami
A special conversation with Keith Menin, Alex Xakoustis, and Raymond Fort, the three industry leaders who have joined forces to bring to life Natiivo Miami, the revolutionary for-sale, homesharing-friendly development located in Downtown Miami. REGISTER.
Highlight quotes from today's webinar:
Kristin Ehrgott: "Typically, the inventory would drive the demand, but now the market is being driven by the demand of the buyers. I just put a house in the market for $2 million and got an offer for almost full price on the same day... We officially announced our joining up with Compass last week, so I've been getting my team on the Compass platform and using the technology. As soon as we announced, we were ready... Due to the amount of demand from our current clients and other Compass agents, I have not reinitiated my Zillow account... I have a client that owned a high-rise condo in Jersey City. They fled to a parent's beach house for a couple of weeks (to spend the quarantine). They contacted me and said they did not want to go back to the condo. They wanted us to sell it. The home they ended up moving to had 11 offers. I found a strategy to persuade the sellers to accept my buyers' offer, and located a buyer for their property in Jersey City... Deals are getting easier to transact. Buyers and sellers are getting together and being reasonable... If you're in an area where inventory is limited and demand is high, people make money on real estate investments."
Margaret Miggins: "It was easier to say vacant homes (during quarantine)... With the pandemic, many kids came back to their parents' home. It gave people a pause. We are noticing that things are opening back up. There are multiple bid situations going on all over the place... One of our agents just put a listing on and within two minutes, she had six appointments... We are seeing a lot of New Yorkers coming out... It's a robust real estate market now. There's little inventory and everything is getting absorbed quickly... We are seeing multiple bids in every price point. People like to feel settled. We are getting a lot of (requests for) home offices, a patch of grass (from buyers)... When we heard that Compass was opening up in Jersey, we loved it. We love everything about their marketing... Normally, in August we take off the last two weeks. I don't think we will be doing that this year. We lost our Spring market and it's now opening up, so everyone is going to want to get in (their new home) for the school year."
Michael W. Stanco: "We have been operating and it's an exciting time to represent the people in this region... We feel Compass is light years ahead of any other brokers... We are looking forward to servicing sellers and buyers because this area has never been in as much demand as now... It's all about relationships. People come to us because they trust us. Every relationship can go in every direction, so we take every client seriously and treat them equally... Pricing has not gone down these last months. It has been stable or even going up... Demand coming out of Manhattan has been there through the years, but now more than ever. For people coming out of the City, either it's a full-time move, or a second-home buyer coming out of Manhattan that is looking to come during the weekend or the summer... Going forward, there is no downtime. August will likely be busier than ever. I think we will go straight through the Fall... Long Island is a great place to live, and we are seeing a resurgence and renewed interest that will push our business and lives in a positive way."
To watch more Haute Residence webinars, visit www.hauteresidence.com.