Dear Ralph,

A reputation isn't something you put on like a suit... it is more like a garden, and it needs watering, weeding and watching every day. Right now, before we get into the thick of selling season, is when to invest some time in sprucing-up a healthy reputation. We also cover in this Title Wise two more forces at work in the real estate market today: high rents (NJ has a median rent of $2,500 a month) & rising insurance costs. Each of these factors are gong to impact affordability significantly.

Please feel free to email me at ralph@counsellorstitle.com if you have any questions or would like to follow up on any of this edition's articles.

Ralph Aponte

Founder & President

732.914.1400

How Google Do You Do? The Importance of Your Online Reputation in 2024

by Anthony DiMaio

Most people's idea of building their reputation is to post a couple things on social media and all of a sudden – POOF – everyone either knows you or about you and you are done! But allow me to ask a simple question: Before you head out to work, do you brush your teeth, comb your hair and look in the mirror to check yourself out? Of course you do.

Well, we need to do the same thing digitally: search for yourself and what do you find? Are you buried on page 3 of your Google search? Even page 2 can be disastrous.

Reputation

Your reputation needs to be managed and freshened up all the time. Some people think that if they post enough on Facebook, it is good enough – well, it ain't!

But reputations are built one day, one post, one transaction at a time.

Before you can 'build a reputation' you have to become aware of the one that you have, and it is either working for you or against you. But it is working!

In the book Lead the Room by Shane Hatton, he writes that reputation speaks before you do. Whether you realize it or not, you are already speaking long before you stand up in a room. It is a fact; you can't change it because back when the Internet was born (for me it was 1992), global connectivity became a reality. This is because we live in a globally connected world where people can look you up 'in a click.'

"A valuable element in positioning or branding or reputation is understanding what people are already saying about you. It's knowing what kind of reputation you have in the minds of your audience. There are certain moments I have found valuable to leverage," Hatton writes.

"As a leader you need to think about your network, because your network is how you influence a conversation you're not part of. You leverage the power of your reputation whenever you tap into the power of your network and that includes advocates," Hatton states.

A reputation is simply the choir of advocates singing the same message and the same song whenever they get together.

"Advocates are those people who will speak well of you when you're not present," Hatton explains.

Search

And because we live in a search economy, whenever anyone thinks about you or hiring you, they search you! And what they discover about you they use to build a picture of you and what you're about.

So the question is when someone searches for you, what are they coming up with and what are they finding?

Take, for instance, your LinkedIn bio: what would people learn about who you are and what you value? As a leader or a business person, you need to think about your visibility and what that visibility is saying about you! How you show up in the places people are looking for you.

If you have any questions about this information or title insurance, please contact Ralph Aponte.

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High New Jersey Rents Squeezing Budgets in 2024

by: Anthony DiMaio

The squeeze is on, the housing market doesn't seem to be getting a break from any direction. Rents continue to be rising at unmanageable rates. According to Zillow the median rent in the state of New Jersey is $2,500 per month, that is just $100 higher from 2023.

According to Zillow, New Jersey's median rent of $2,500 is significantly higher than the national median rent, which is $2,000 a month.

According to a recent Harvard study on housing, it estimated that 12.1 million American households spend more than half their income on rent and utilities. Traditionally, it has been a healthy estimate for a household to spend 30% of its income on housing. But the same Harvard study shows that a total of 22.4 million households are spending more than 30% of their income on rent and utilities. According to some articles, the experts, the people who usually tell us something that we don't know, are projecting that the housing market is going to reverse its trajectory, and that inventory and mortgage rates are both going to come more in line with traditional levels. But they also missed New Jersey's housing price increases for the year of 2023.

According to recent market reports, the average sale price for a single-family home in New Jersey increased in 2023 by 16.2%, translating into the average sale price of $663,000. On top of that, inventory has fallen by another 24.2% from December 2022. That leaves the monthly supply at a 2.4-month supply level. Inventory supplies, though they have fallen for the last 2 years, have ranged from approximately 15,200 to 11,500. Aside from the decrease, the range of inventory has been settling in this range.

And the shift from virtual workers to office workers continues to impact workers, causing them to buy and rent within a radius of acceptable commutation time.

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What Is Enthusiasm?

Enthusiasm is the ability to bring life and excitement to different situations. It often leads to a higher level of involvement and engagement both for individuals and for groups. Those who demonstrate zest and enthusiasm bring energy and a level of intensity to individual and group work. These people are often identified as early leaders and innovators as a result of their outward excitement about a task or project. Look for these people to recruit new group members and generate ideas.

People with enthusiasm and zest are happy, but this strength goes beyond happiness or pleasure. It is an activated positive energy, and associated with self-realization and autonomy. Enthusiasm is a strength that has strong connotations with both physical and mental vitality and well-being. It can be fortified through diet, exercise, mindset, and social connection.

For individuals, enthusiasm is an easily identifiable and highly desirable personality trait. We feel good when we are energized by an activity or opportunity – and we like to spend time with people who are excited about life. Those who demonstrate a high level of enthusiasm are more likely to complete tasks and exceed minimum requirements as a result of their passion.

For groups, enthusiasm can be directly tied to high levels of success, happiness, and achievement. Enthusiasm is contagious. One person’s enthusiasm can spark others to think, speak, and act with more energy and conviction. Groups that are enthusiastic about tasks are much more likely to spend longer periods of time in service to the group’s overall goals. Click here to download or on the cover above.

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