IN THE NEWS: This interview with founder of Jersey Success Realty was published in the Daily Record – West Morris Plus.
Realtor lays honest foundation
John Kippycash / special to the west morris plus
Jersey Success Realty’s founder knows honesty draws repeat business.
Starting up: “I was a pharmacist, and one day, a woman came in to pick up a prescription,” said Jeff Denholtz, founder of the company. “She was selling her house and asked if I knew of anyone looking for a home. I said I’ll get back to you. “A little while later, a prospective buyer came in to pick up a prescription and asked if I knew of any houses for sale. The same day, a Realtor came in and asked if I knew of anybody who was selling their house. I put them together and thought, ‘This is easy; I think I’ll do it for a living.’
But believe me, it’s not that easy. I managed to find a seller, a buyer and an agent all in one day, but normally, it’s a lot more difficult.”
Busiest time: “Traditionally, we are very busy February through May, but this year is different. Buyers outnumber sellers, and we see the market being strong though September. Low interest rates are driving this market, and as long as rates remain low, houses will move.”
Why customers choose you: “We offer a discounted commission schedule. It’s 3.9 (percent) for an exclusive and 4.9 (percent) for a multiple listing. We also guarantee in writing that we will advertise every week until a property is sold. That’s something that a larger agency can’t do.
We also do a lot of things that the owner is supposed to do, such as dealing with bureaucratic paperwork.”
Unusual incident: “We had a buyer come in and turn down a house cold. He just wasn’t interested. We showed him 15 or 20 other choices, and he ended up buying the first house we showed him. He shopped the market just to be sure. And that’s OK. He was satisfied that he got the best price.”
How business has changed: “You’ll notice there are more agents than ever before. If rates go up, that will change and a lot of people selling real estate part time will drop out. That’s when a full-service agency will shine. We have the staying power, the advertising budget, the experienced people.”
Keys to success: “Honesty. If you tell people the straight truth, they will respect you. I have a lot of repeat business and that’s because I tell the truth. We have a zero-tolerance policy toward dishonesty.”
Advice to entrepreneurs: “In 21 years, I have never seen it this busy. Right now, I have three buyers bidding on one property. That means two people will be disappointed.
“I have an estate property that has five heirs. I have to get a consensus. That’s certainly not easy.
“To start an agency, you need patience and honesty … honesty above all. You have to be very disciplined. I have a fairly large Turkish and Greek clientele. I don’t speak the language, but they know I give the straight story.
“You need strong capitalization. You have to buy lock boxes, signs, computer systems and advertising. You have to dig in financially and stay the course.”
“Reprinted with permission of the Daily Record.” />This article was originally published in Open for Business is a regular feature about businesses in western Morris County. It was reported by John Kippycash. Copyright © 2003 Daily Record. All rights reserved by the Daily Record. Reprinted here with permission of the Daily Record.