Joe Moshé of Charles Rutenberg Realty, Inc. Shares Advice on Starting A Business and Discusses the State of the Long Island Real Estate Market

May 9, 2017

On April 28, Joe Moshé, Real Estate Broker, Charles Rutenberg Realty, Inc., spoke to the members of LIMBA (Long Island Metro Business Action) at the organization’s bimonthly meeting at The Clarion Hotel in Ronkonkoma to explain how they can start their own business and to share his insights on where the Real Estate market on Long Island is heading.

In 2006, Mr. Moshé and his wife Pamela founded Charles Rutenberg Realty Inc. in Plainview. Mr. Moshé saw that a change was necessary to provide a better compensation package, training and support to Real Estate Agents. The Real Estate industry had changed dramatically with the advent of the Internet, the smartphone, and professional technology which made storefront offices unnecessary. Mr. Moshé told the LIMBA attendees, “When starting a new business, we must find a need and fill that need but always be sincere, honest, compassionate and work diligently in order to succeed.” He also told them that “the more you love what you do, the more you do it!”

He said that he has followed that philosophy for the last ten years, which is why Charles Rutenberg Realty has grown to over 1,000 Agents, with an average of 15 to 20 Agents joining the firm each month. Most of the new Agents joining Charles Rutenberg Realty are doing so as a result of referrals from happy longtime Rutenberg Agents.

Mr. Moshé also discussed the state of the Long Island Real Estate market. He said that it is currently a seller’s market, with lower inventory and fewer sales transactions, although home sale prices have increased. He said, due to the higher prices of downsized homes for seniors to move into, some homeowners are unwilling to sell. Mr. Moshé also expressed concern that the increase in home prices will push the millennials into rentals or off Long Island to another part of the country, where the cost of living is more affordable. Mr. Moshé firmly believes that Long Island is one the best places in the world to live. Education, climate, entertainment, parks and recreation are second to none. He said, “Yes, we have our challenges, but the quality of life and the people of Long Island are special.”

In addressing the rise in interest rates, Mr. Moshé thinks the rates will not fluctuate more than one percentage point over the next 12 to 24 months.

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