Rationale

With the economy in a tailspin, unemployment rising at a steady rate, and real estate, in general, continuing to be sluggish companies are forced to cut costs and look at innovative ways to stay in business. As we go to the offices and in speaking with other Brokers and agents as well as reading reports and articles about the industry we find there are few agents working from their offices. Most just come in to do their floor time or work on files and then go home.

For us, we have taken a most innovative route that will help us control costs while increasing and building our company and entering into new markets across New Jersey.

Virtual Technology

Recently we have introduced our new Transaction Management System. It has taken off and is successfully integrated with our company. This means that there are no more files in offices and sales associates can access them from their home computer or Smartphone.

The second phase of repositioning ourselves for the future is our GREENLeads System. This is a system of handling up calls, Internet Leads, Appointment & Availability calls, and Referrals. The system consists of a call center which will be located in Toms River. All calls are answered by a live call coordinator and logged into our system for previous call and tracking. The system is designed to allow our sales associates a choice whether to do "traditional" (in-office) floor time or "virtual" (out of office) floor time. Calls come in and immediately get routed to the sales associate via their smartphone.

The third phase of repositioning ourselves for the future is our Internet Based Telephone System. This system will handle the day-to-day, business to business calls. Our virtual receptionist will answer the call and rout it directly to the sales associates' phone of choice. Our sales associates have full control via a personalized dashboard to direct calls via our exclusive "follow-me forwarding".

Office Realignment

Considering all of the factors above, we find that we no longer need “business offices” other than corporate and regional sales and support centers located in each County in New Jersey. We do see a need, and this is part of our overall plan, for small “conference centers” or “drop-in centers” that are conveniently located for our sales associates to meet buyers. We currently have one in Lavallette and Monroe Township and are looking into markets elsewhere. As of this date we have secured approval to use any Starbucks location throughout New Jersey. This opens up the door for our growth in contiguous markets throughout New Jersey. Our current schedule of office realignment is as follows:

August 1, 2009 - Brick Office - Convert to Conference and Training Center

August 15, 2009 - Howell Office - Close

January/March 2010 - Expand our operations to Florida utilizing the same call center and transaction management system already in place to increase profits from revenue.

New Management Model

We have designed a new management model that allows our sales managers to work in teams rather than offices. This allows them to concentrate on performance and not have the responsibilities of the day-to-day office operations of the traditional office manager model. our managers are typically top agents who want to earn residual income from recruiting, training and retaining a team of sales associates. They maximize their time and effort to earn a split well above the 100% level.

Sales Associate Evaluations

It is our intention to raise the level of competence and production in our company. We started by creating a 3 transaction minimum per year. We intend to cut our sales force by almost one-third. These are sales associates who have refused to be re-trained and that we have determined not to be the caliber of sales associate we want to keep on our staff. We will be letting them go immediately. We will simultaneously increasing our base compensation rate for 50% to a generous 60%.

Veltri & Associates, Realtors, ranked in the top 4% of all real estate companies in Monmouth & Ocean Counties in closed single family sales in 2006, 2007 & 2008, is a full-service real estate agency serving all of New Jersey.

It combines both traditional and Internet sales capabilities including residential sales and rentals, commercial, adult community, new homes, luxury homes and estates, vacation homes and rentals as well as worldwide relocation. The company features an array of flexible listing fee plans as well as a broad range of compensation opportunities for its sales associates.

For more information on our repositioning plan please contact Albert S. Veltri at (732) 600-9904
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Toms River, NJ – Veltri & Associates, Realtors has announced the beginning of it's re-alignment plan.

It does not come as much surprise that our economy and the real estate industry are in the midst of the most challenging time since the great depression.

And, for most companies it is prudent management to continually assess their companies’ position in the market and make decisions accordingly. No real estate company today is immune from this challenging market. Coldwell Banker Residential, Diane Turton, Realtors and Weichert has downsized and closed offices just to name a few. A few more have unfortunately had to close their doors altogether.

"I have been working on what I call a “re-alignment” plan for our company since May of this year. Basically, this plan is comprised of looking at our overhead, our markets and office production. An example of this was our Normandy Beach Office. We realized that most of our business was being done in the Lavallette are so we relocated a satellite office to Lavallette and consequently have increased our business ever since explains Albert S. Veltri, President & CEO".

"I have identified our Point Pleasant office as the next office to re-align. Our rationale for this re-alignment is the fact that over the past four years 85% of Point Pleasant's’ production was out of the Point Pleasant and Point Beach areas. In fact, over 50% of our production was done in Brick. It is our second most expensive office in the system and we also have seen a decline in the offices’ production since we opened our Howell office three years ago and opened our Brick office this year. It does not make good business sense to keep this operation open and compete with ourselves. We still have a lease that we will have to pay for the next year and a half unless we can sublet some space. We will probably use some of the space for a training facility. All of the sales associates will be going to the Brick Office". Veltri States.

In place of the Point Office we are planning on opening a small satellite office in the Sea Girt area shortly. This satellite office will be supported by the Howell-Wall office.

Veltri & Associates, Realtors, ranked in the top 4% of all real estate companies in Monmouth & Ocean Counties in closed single family sales in 2007, is full service real estate agency with offices in Pt. Pleasant, Lavallette Beach, Toms River-North Dover, Howell, Brick and Lakewood combines both traditional and Internet sales capabilities including residential sales and rentals, commercial, adult community, new homes, luxury homes and estates, vacation homes and rentals as well as worldwide relocation. The company features an array of flexible listing fee plans as well as a broad range of compensation opportunities for its sales associates. For information, call 1-866-4VELTRI or visit www.veltrirealtors.com
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Toms River, NJ – Veltri & Associates, Realtors, one of the fastest-growing, independent real estate companies in Monmouth & Ocean Counties, has announced the opening of the company’s fifth office in Lakewood, New Jersey.

"This is the first in our Adult Community division, says Albert S. Veltri, President & CEO. We can offer specialized services focusing on our older population, states Veltri". The new office located in Leisure Village East will serve as the hub for the Adult Community division.

Veltri & Associates, Realtors, ranked in the top 4% of all real estate companies in Monmouth & Ocean Counties in closed single family sales in 2007, is full service real estate agency with offices in Pt. Pleasant, Lavallette Beach, Toms River-North Dover, Howell, Brick and Lakewood combines both traditional and Internet sales capabilities including residential sales and rentals, commercial, adult community, new homes, luxury homes and estates, vacation homes and rentals as well as worldwide relocation. The company features an array of flexible listing fee plans as well as a broad range of compensation opportunities for its sales associates. For information, call 1-866-4VELTRI or visit www.veltrirealtors.com
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Toms River, NJ – Veltri & Associates, Realtors, one of the fastest-growing, independent real estate companies in Monmouth & Ocean Counties, has announced the opening of the company’s fifth office in Brick, New Jersey.

“We are very excited to open this marketing center”, states Cynthia (Cindy) Veltri, Vice President. The new state-of-the-art office located at 35 Beaverson Boulevard will service the Brick, Silverton and Lakewood communities. “In a market where real estate offices are closing, we chose to open this office as part of our on-going expansion plans”, says Veltri. Brick has had over 2,840 single family homes closed in 2006 and 2007.

Veltri & Associates, Realtors, ranked in the top 4% of all real estate companies in Monmouth & Ocean Counties in closed single family sales in 2007, is a full-service real estate agency with offices in Pt. Pleasant, Normandy Beach, Toms River-North Dover, Howell and Brick.

It combines both traditional and Internet sales capabilities including residential sales and rentals, commercial, adult community, new homes, luxury homes and estates, vacation homes and rentals as well as worldwide relocation. The company features an array of flexible listing fee plans as well as a broad range of compensation opportunities for its sales associates.

For information, call 1-866-4VELTRI or visit www.veltrirealtors.com.
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Toms River, NJ – Veltri & Associates, Realtors, one of the fastest-growing independent real estate companies in Monmouth & Ocean Counties, has announced an agreement with Countrywide Home Loans to provide mortgage lending services to the company. “We have chosen Countrywide because it is the largest residential lender in the U.S. and has the mortgage products our clients need”, states Albert S. Veltri, President & CEO. The agreement, which has begun in January, provides on-site access to Countrywide loan professionals who will answer clients’ questions and provide mortgage counseling ensuring that each purchaser has the opportunity to secure the right loan for their individual financial needs.

Countrywide has recently been purchased by Bank of America. The two entities together capture nearly 33% of the residential mortgage market in the United States. “We are pleased to partner with a company with such a high service level and are anticipating a huge success given the current market share of the company”, stated Douglas J. Tarta, Countrywide VP, Area Sales Manager.

Veltri & Associates, Realtors, ranked in the top 4% of all real estate companies in Monmouth & Ocean Counties in closed single family sales in 2007, is full service real estate agency with offices in Pt. Pleasant, Normandy Beach, Toms River-North Dover, Howell and Brick combines both traditional and Internet sales capabilities including residential sales and rentals, commercial, adult community, new homes, luxury homes and estates, vacation homes and rentals as well as worldwide relocation. The company features an array of flexible listing fee plans as well as a broad range of compensation opportunities for its sales associates. For information, call 1-866-4VELTRI or visit www.veltrirealtors.com.
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Toms River – Veltri & Associates, Realtors, one of the fastest-growing independent real estate companies in Monmouth & Ocean Counties announces the areas first on-line property evaluation tool that allows consumers to check the value of comparable properties as part of the home search or sale process. “Today’s buyers and sellers are utilizing the Internet more and more - whether it’s looking for a new home, an agent or a mortgage loan”, states Albert S. Veltri, company President & CEO. Veltri and Associates, Realtors home evaluation tool automatically provides an accurate residential property value to consumers utilizing more than 20 years of historical property data and sales information from more than 1,100 U.S. counties and 85 percent of property ownership records nationwide, resulting in superior geographic coverage and data depth quality. Advanced technology facilitates the best delivery options for the report. Reports are delivered to the consumer within seconds via email. “This is just another example of how we are leveraging our already strong market and Internet presence”, explains Veltri.

Veltri & Associates, Realtors, a full service real estate agency with offices in Pt. Pleasant, Normandy Beach, Toms River-North Dover and Howell combines both traditional and Internet sales capabilities including residential sales and rentals, commercial, adult community, new homes, luxury homes and estates, vacation homes and rentals as well as worldwide relocation. The company features an array of flexible listing fee plans as well as a broad range of compensation opportunities for its sales associates. For information, call 1-866-4VELTRI or visit www.veltrirealtors.com.
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