Michael Klein, A Top Producing Real Estate Agent in Hoboken, NJ Talks About Challenges in Today’s Market & How He Overcomes These Obstacles

Michael Klein, a top-producing agent who sells a minimum of one home per week in Hoboken, New Jersey for Liberty Realty – and the only agent to be awarded the Top Platinum Award by the Hudson County Multiple Listing EVERY YEAR since 2005 – talks about market shifts and current market challenges, particularly the challenges of limited inventory and reduced buyer purchasing power.

Michael notes the shift in the market has created new obstacles for the real estate industry. He shares how he overcomes those challenges, how he qualifies new leads, and what he does differently to maintain success.

Part 3 of this 4-part series of interviews focuses on “overcoming today’s real estate challenges.”

Video Summary

  • Host Steve Cortez from Arch Agent introduces guest Michael Klein from Liberty Realty in Hoboken, NJ, at the Mike Ferry Retreat.
  • They discuss insights into the real estate market and maintaining success.

Local Market Overview

  • Michael describes the urban market challenges in Hoboken post-COVID.
  • Market saw a resurgence at the beginning of 2022 but slowed as interest rates rose mid-year.
  • Recently, the market has been unexpectedly active, with buyer demand high despite elevated interest rates.

Macro-Level Real Estate Challenges

  • Rising interest rates continue to challenge buyer purchasing power.
  • Inventory shortage remains a major issue, with more buyers than sellers.

Business Challenges

  • Finding serious, ready-to-move leads is a challenge.
  • High demand for sellers who are reluctant to move until they find a new property.

Strategies for Success

  • Increased focus on prospecting.
  • Strong client service to ensure repeat business and referrals.

Unique Selling Proposition

  • Takes an advisory approach with clients rather than high-pressure sales.
  • Focuses on understanding clients’ goals and guiding them without a “salesman” feel.
  • Years of experience and client referrals reinforce his approach.

Service Satisfaction with Arch Agent

  • Utilizes ArchAgent’s expired listings and landlord calling services.
  • Finds ArchAgent’s accurate contact data and efficient process essential for daily prospecting.

Listing Agents are the backbone of the real estate industry… even more so with the recent court rulings on buyer side commissions. Learn more about how highly successfully agents are improving their game using the Propensity to List neighborhood service. For a white paper on how the analytics work please call us at 800-882-9155.