The Jeff Quintin Real Estate Super Team had an impressive $60,054,958 in sales in 2011.

            Ocean City, NJ – The Jeff Quintin Real Estate Super Team of Prudential, Fox & Roach Realtors was named one of America’s top real estate teams by the Wall Street Journal and REAL Trends.  The Wall Street Journal/REAL Trends “Thousand” is a ranking of the top 1,000 real estate teams and individuals based on transaction sides and sales volume in 2011.

            The Jeff Quintin Real Estate Super Team was ranked 162 out of 1.2 million in the nation

with sales volume totaling $60,054,958.  They are also the only team from South Jersey ranked in the top 200.

            A full listing of all the winners can be found online at realtrends.com or on the Wall Street Journal’s real estate web page.

            To reach Jeff Quintin, please contact him at 609-398-5333 or visit JeffQuintin.com. The Jeff Quintin Real Estate Super Team is located at Prudential, Fox & Roach Realtors, 5501 West Avenue, Ocean City, NJ 08226.

About the Wall Street Journal/REAL Trends “Thousand”

The Wall Street Journal’s Business Development Group and REAL Trends developed the Real Estate Top 1,000 awards program jointly, a leading source of analysis and information for the residential real estate brokerage industry. The Real Estate Top 1000 honors America’s elite real estate agents and their companies, many of which have forged long-standing business relationships with The Wall Street Journal. The Wall Street Journal/Real Trends “Thousand” is complied and analyzed by REAL Trends with winners published in a special supplement of The Wall Street Journal’s real estate web site.

Real estate agent Jeff Quintin said listing a house as reduced does not put a bad mark on it, but instead can make it more attractive to a potential buyer. Photo by: Dale Gerhard

By JOEL LANDAU, Staff Writer

In a buyer’s market, oftentimes sellers do not get the price on their home that they want.

The trick, area real estate agents say, is convincing sellers what the current market is for their home – even if it’s decidedly less than what they originally paid or what a neighbor recently received.

“It’s one of the biggest challenges in today’s marketplace,” said Jeff Quintin, a salesman with Prudential Fox & Roach in Ocean City. “Many sellers are still in fantasyland in 2004 to 2006 when the market peaked. A lot have not adjusted. There are still a major portion of sellers still shooting for the moon.”

Quintin said the overabundance of homes on the market is the problem and sellers need to be realistic that prices will not increase until more inventory is cleared.

“The goal is to determine what price will catch the eye of the buyer. We certainly understand what the seller goes through. At the same time, we have a duty and allegiance to tell them the truth,” he said. “Everyone thinks their house is the best. It’s a matter of looking at the comparable sales and seeing what’s selling. But if there is no interest, they will make an adjustment.”

Another issue is because so many people overextended themselves during the mortgage crisis, they can’t afford to lower their price because then they can’t pay back what they owe, he said. A big part of the large number of foreclosures and short sales on the market is due to many sellers waiting too long while trying to get a better deal on their property.

The market didn’t rebound in time and the sellers were forced to take significantly less in the end, he said.

Brenda Lawn, a real estate agent for Prudential Fox & Roach in Northfield, said a significant number of properties in the market have been reduced.

When starting with a potential seller, she said, she provides them information to make a competitive listing. It’s especially important to list the right price at the beginning because that’s when the home will be most popular.

“The majority of sales are in the first month,” she said. “If you don’t have the right price in the beginning, you lose that momentum and you can’t gain it back.”

Lawn said she stays on top of the market and gives her clients regular updates on sales.

“If there is no offer in the (first) 30 days, I’ll talk to them about adjusting the price,” she said. “If you price it optimistically, reduction is one of the only things you can do.”

Lawn and Quintin said listing a house as reduced does not put a bad mark on it, but instead can make it more attractive to a potential buyer.

“It can entice a buyer to make an offer,” Quintin said. “It’s the same effect as a sale on a suit. … (The buyer) thinks now it’s in the realm of their budget.”

Allan Dechert, co-owner of Ferguson Dechert Real Estate in Avalon, said that to some degree a house may sit on the market long enough that the market changes around it.

“We want to set a selling price based on comparable sales, but sometimes a seller may just want to give it a shot (at a better price),” he said. “But after two weeks or 30 days, we’ll take a look at it.”

Other times a price change could just be based on the needs of the seller, he said.

“Sometimes they’ll just say, ‘Look, I need to get out of this thing. I need to sell it,’” he said.

But with sales improving recently and interest rates still low, it’s an important time to be right about the listing.

“The price is paramount,” he said.

View the List Here

The Wall Street Journal and REAL Treds, Inc. have compiled a summary of the Top 1,000 real estate agents and teams in the United States. Listed are the Top 250 real estate teams based on the number of closed transaction sides for 2010. The Jeff Quintin Team ranked 199 to be part of the top Realtors in the United States

View the List Here

Prudential Fox & Roach, Realtors The Jeff Quintin Super Team, sales associates in the Ocean City 55th Street Office, were recently awarded the Prudential Real Estate Affiliates, Inc. (PREA) 100 Award for 2010. This award is presented to the top 100 PREA sales professionals nationally who have achieved the highest residential gross income (GCI) or closed residential units. Congratulations to the Jeff Quintin Super Team for ranking 64th in residential gross commission in come and 32nd for residential units out of a total Prudential Real Estate Affiliates sales force nationwide of more then 58,000 associates.

Prudential Fox & Roach, REALTORS, the nation’s fifth largest provider of home services in the Unites States, is an independently owned and operated member of the Prudential Real Estate Affiliate, Inc. As the Tri State area’s real estate leader, the company has more then 55 sales locations and 3800 sales associates. Through its affiliate, the Trident Group, the company provides one-stop shopping and facilitated services to its clients including mortgage financing and title, property and casualty insurance.

Without a doubt, Jeff Quintin has accomplished a great deal during the last ten years. He’s still in the resort market of Ocean City, New Jersey helping mostly second home buyers find their dream beach house. But he has propelled his success using the team method he professed a deep belief in a decade ago. Jeff now leads a productive team of about a half dozen real estate professionals who sell an impressive assortment of million dollar plus resort homes.

Jeff’s recipe for success blends one part lead generator with two parts team builder and tops the mixture with relentless drive. It’s a formula that’s working.

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Back to Basics

Two years ago, Jeff Quintin closed 82 transactions and grabbed a spot as the top salespeople in Ocean City, N.J., a competitive island resort with 500 full-time sales associates and 23 real estate brokerage companies. It also got him a spot in REALTOR Magazine’s first ever “30 under 30” article profiling top young real estate professionals.

Back then, it seems his goal was simple: continue to be number one. But being the top producer created its own dilemma: how do you stay on top once you get there?

“When you start to get a lot of deals, the new challenge is being able to manage your current pendings and still go out and grab new business,” says Quintin, who sells an average of two homes per week. “Maintaining the production level can be difficult, and the whole transaction can bog you down.”

Stepping safely through that bog required change. So Quintin got organized. He starting following a daily schedule—prospecting from 8:30 a.m. until noon, then returning calls and negotiating contracts in the afternoon, hired a licensed closing coordinator, and developed a business plan to help him focus on income-income producing activities. “I concentrate on time-management; when I am here, I work,” he says.

Part of Quintin’s new-found concentration comes from an added sense of responsibility. “I got married in September, so my focus has changed,” he says. “Now, once I set a goal, I figure out a way to get there and then break that plan down to monthly, weekly, and daily goals. As long as I can achieve each daily goal, I know I’ll get closer and closer to my main goal. I am focusing harder to make the next 10 years the best they can be. If I put my time in now, I can retire by 40.”

To keep himself sharp, Quintin works weekly with a personal coach to get feedback on marketing strategies and business decisions and help to keep his goals in sight. He also makes time for regular role playing activities with other tops salespeople to keep his listing and negotiating skills honed.

Streamlining his business has made it easier to service the customer, says Quintin and helped him close122 transaction sides (10 percent of his market) last year. The resulting $366 million in sales was more than double the $17.2 million he netted in 1999.

Two years ago when REALTOR Magazine interviewed him, technology and his Web site were big parts of Quintin’s marketing plan. These days, this relocation specialist has gone back to basics. “When you’re successful, you can get complacent. You’ve to keep going out and getting the business, not just wait to have it come to you. I get on the phone and prospect two to three hours each day. I concentrate on prospecting my past clients and customers for their referrals and encourage them to purchase additional investment properties,” he says. “I know that someone in every marketplace is going to buy or sell real estate every day. My job is to find them.” Referrals and additional business from past clients represented 57 percent of all Quintin’s transactions for 2001.

Hager Real Estate’s top producer says working and learning from other successful sales associates helps him stay at the top of his game. “I’ve been in the business for 10 years, but if I had to do it all over again, I would go to the top one or two people in my marketplace and ask if I could work for them and learn what they do,” he says.

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Tom Rowe and Sue Petrimoulx, of Glenmoore, Pa., talk with real estate agent Jeff Quintin, of Prudential Fox & Roach, during a quick tour of a first-floor home on Asbury Avenue in Ocean City. Photo by: Anthony Smedile

By ERIK ORTIZ Staff Writer,

Before the housing market roared and crashed with the intensity of a tidal wave, Dave Henry owned as many as a dozen properties dotting the New Jersey shore.

He sold some when home prices began peaking in 2005, making a profit of more than 30 percent, he said. But by the following year, when the market’s titanic gain had plummeted, the Upper Township resident started shedding properties again – at a 30 percent loss.

“As fast as everything went up, it came down. You really had to watch your money,” said Henry, 58, who still owns two rental homes in Ocean City. “At the end of the day, if you’re in the plus column, it’s all good.”

Such is the gamble taken by investors, speculators, second-home owners and year-round residents of New Jersey’s coastal communities. That eclectic mix of ownership is why shore real estate for years had thrived ahead of the mainland and the rest of the state’s prime housing market. Buyers at the shore have often been older, knowledgeable about investing and wealthy enough to afford second homes, particularly in luxury enclaves near the ocean.

But the shore market was not immune from the extraordinary shakeup in housing values and prices that preceded the economic recession that began in late 2007, although there now is a growing consensus that the market has hit bottom and is turning around, area real estate agents and economists say.

The Press of Atlantic City analyzed property data for 35 municipalities in the four counties that make up New Jersey’s 127-mile coastline, from Sea Bright in Monmouth County to Cape May Point in Cape May County.

Fiscal years 2003 to 2008, which run from July 1 to June 30, were examined, focusing on housing prices and home sales of at least $50,000. The most recent available data from 2009 also was compiled, although it is about two weeks short of a complete fiscal year.

The Press’ analysis found that the shore market is returning to a pre-boom level and prices are becoming more affordable.

All but seven shore towns had median home sales in 2009 that were lower than the previous three years. Among the lowest were West Wildwood, down 35 percent, Avon-by-the-Sea, down 27 percent, and Belmar, down 24 percent.

That decline in median sales prices is helping to spur home sales. Every town saw sales go up in the past fiscal year except for Brigantine, West Wildwood, Sea Girt and Bay Head. (Sales are still way off from 2003, but there also has been a general decline in housing construction during the recession.)

Stephen Booth, market manager for Prudential Fox & Roach in Ocean City, believes the market has already hit bottom.

“If you look at what properties are selling for now, there are values out there that haven’t been there for years,” Booth said.

Higher-end still suffering

The shore market, because it is a secondary one, is dominated by investors who take advantage of the cyclical nature of real estate. They invest in the market sooner than regular buyers who may be more cautious about spending money.

But this recovery, unlike previous ones, is “working from the bottom up,” Booth said. “In this one, we’re lagging behind.”

Robust sales of higher-end homes usually indicate that the shore market is healthy. Prices there rise greater than the general market since seaside living is considered more desirable and available land along the coast is limited. Essentially, there is a lot of demand, but limited supply – which drives up prices.

Even in 2009, 14 seaside towns had median home values higher than $600,000, with five of them topping $1 million or more.

Mantoloking in Ocean County, which has only about 450 year-round residents and belongs to an exclusive part of the shore called the “Gold Coast,” had the highest median home value of $3.2 million.

But the most expensive home sold in 2009 was in Long Beach Township, one of six municipalities on Long Beach Island, for $8.7 million.

And even now, an 8,000-square-foot estate in the township, with eight bedrooms, five bathrooms, marble sink countertops and a spiral wooden staircase is listed just under $15 million.

“One of the few remaining tracts available on Long Beach Island, and the largest of its kind!” according to its listing.

But Realtors from Monmouth County to Cape May County say the sales of those premium properties have been anemic in this downturn, which is why some believe the market is lagging.

“The $1 million (home) and above is very slow,” said Mark Carrier, president of Carrier Sotheby’s International Realty in Brigantine. “The jumbo loans are available for those types of properties, but buyers are really skittish about the economy, and they’re wondering when this recession is going to end.”

Jeffrey Quintin, who heads his own team of real estate agents in Ocean City under Prudential Fox & Roach, said there is still too much inventory on the market. Ocean City generally has the most annual transactions of all the shore towns and was averaging 168 per month when housing prices took off in 2004.

The island resort’s inventory of unsold homes was at a three-month supply then, Quintin said. Now, it is at a 20-month supply.

“The inventory needs to be at eight months or less to see a shift in the market,” Quintin said. “But there’s still less inventory now than a year ago.”

Doing much better are homes under $600,000, real estate agents say, and buyers – some who previously were relegated to renter status in the market – are pouncing.

Quintin said a home on West Avenue in Ocean City, about three blocks from the beach, sold this year for $405,000 and had several bidders. The three-bedroom, one-bathroom cottage was worth as much as $600,000 in 2004.

“The market has really come down, and as prices have adjusted downward, more people can afford them,” Quintin said.

Buying and selling

On a recent Saturday morning, Quintin met client Tom Rowe and his fiancee, Sue Petrimoulx, at a condo on Ocean City’s Asbury Avenue. One section of the residential street, a stone’s throw from the ocean, is lined with cream-colored homes and “for sale” signs.

“Everything’s so neat,” said Petrimoulx, as she peaked around the three-bedroom unit dressed up in a beach theme.

Rowe and Petrimoulx, of Glenmoore, Pa., were beckoned by the oceanfront neighborhoods of Ocean City when they first bought a second home there in 2004. The city markets itself as “America’s Greatest Family Resort.”

“Since I was little, I always wanted a house at the shore,” Petrimoulx said.

Now, the couple is looking to upgrade again to a bigger place that can accommodate visiting grandchildren. They are considering renting out their current condo if they find a new place to call home.

But this Asbury Avenue unit wasn’t it.

Its current owners, David and Kathy Ostermayer, of Medford, Burlington County, are listing the condo for $519,900 – just above the city’s median sales price from June to August of $471,250.

The Ostermayers bought the condo in 1998 for $195,000, and saw how its value skyrocketed – then deflated – in a decade.

But they’re long-term owners who want to buy up and purchase again in Ocean City. And they’re the type of sellers who are not interested in inflating home prices on the off chance they can make a huge profit.

Now that prices are lower and there is still a large inventory of homes available, Quintin said, the market will benefit by people selling based on realistic values.

“You hope not to lose money in the process,” Kathy Ostermayer said. “Hopefully, we’ll break even.”

Disappointed that they had missed the boom of a few years ago, her husband still wouldn’t mind doing better than that. “Hopefully, we’ll make money,” he said.

Balancing independent thinking with a healthy respect for their mentors, our honorees for 2010 are integrating new media with old-school touches. Many started their real estate careers while in college— and most of these educated young pros favor higher standards for the business. They’re demonstrating vision and commitment as they bridge generation gaps, turn around tough situations, and help manifest their clients’ dreams.

This year, REALTOR® Magazine also is celebrating its 10th anniversary of “30 Under 30.” We reconnected with past honorees to find out what they’ve been up to in the years since they were named to “30 Under 30.” We also invited all past and present honorees to Chicago to commemorate the 10th anniversary of this special feature. An impressive group of 91 joined us at Chicago’s historic Union Station— a fitting backdrop for these on-the-move professionals. Daniel Burnham, the building’s architect, famously said, “Make no small plans.”

PROFILES Read the extended profiles of the 2010 Class of “30 Under 30.”

INTERACTIVE PHOTO View the interactive 10th Anniversary photo in Chicago’s Union Station, where 91 past honorees convened.

10th ANNIVERSARY FEATURE Find out what lessons our past honorees have learned over the years and watch the behind-the-scenes video to get a taste of the excitement and hard work that went into this year’s “30 Under 30″ photo shoot.

MORE INFORMATION Each June, REALTOR® Magazine features 30 rising young stars in the real estate industry. Watch for more information in the coming weeks on how to nominate yourself for the 2011 class. Any REALTOR® member of the NATIONAL ASSOCIATION OF REALTORS® who is under age 30 as of May 31, 2011, and who has not been profiled in a previous “30 Under 30” feature, is eligible to apply.

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Is My House Overpriced?

1. Is your home priced to compete with neighboring listings?

Before putting your home on the market, your agent should have presented a comparative market analysis – or CMA – to determine what the ideal listing price is for your home. Review all of the recent activity in your area to weigh the likelihood of your home selling at the price in mind. If your house is listed far above what any home in the area has recently sold for, then the answer to the question “Is my house overpriced” is a resounding YES!

2. Has there been little or no interest in your home since it hit the market?

Houses fresh on the market generally experience a large amount of showings within the first few weeks of being listed. If your house has had little traffic (and isn’t in shambles) then you may need to reduce the listing price. Don’t get stuck in “we’ll just see what happens” mode – a home sitting on the market for too long makes buyers wonder if there’s something wrong, which will only add to the issue.