Z Realty Group hosted a grand opening party on Tuesday October 4th, 2011 for its new location. Mayor of Fort Lee, Mark Sokolich along with Mayor of Englewood Cliffs Joe Parisi and the members of the Fort Lee Chamber of Commerce conducted the ribbon cutting ceremony.
“It is a challenge for any new company to find its footing in the public market because investors already have lots of choices among established companies,” notes Zeynep “Z” Ekemen. “That said, a good real estate company with a high-quality portfolio, a strong experienced team, and unparalleled professionalism absolutely has a place in the market – they just need to prove themselves over time.” And a strong team she is building, the rapidly expanding firm is building a professional team by adding seasoned agents from such national groups like Marcus & Millichap and CoStar to its roster. Among Ekemen’s notable clients are PBJS, Subway, Kenneth Cole, Popeye’s, Korean War National Museum just to name a few. Ekemen also represented PayPal in their first brick-and- mortar location in New York City.
In latest news Z Realty Group has been named the Exclusive Listing Brokers to three distinct properties throughout Northern New Jersey. The firm has been named the exclusive sale agent for The Marquee, a forty-unit luxury residential project along with another multifamily building with eighty-five units in Bergen County. “The momentum in the multifamily market created by a very low supply of properties for sale and extraordinarily low interest rates has been remarkable. Properties are selling as rapidly as they were at the peak of the market in 2007,” said Ekemen. McGinley Plaza, located in Jersey City a one-acre Development Site is also exclusively being marketed by Z Realty Group. “This is a very aggressive project, but one that is greatly need in the area. This project will pave the way for future development of this area.” stated Ekemen.
RESIDENTIAL AGENTS NO LONGER HAVE TO PAY OUT COMMISSIONS
Many first generation Turks choose to make a career for themselves by working for national agencies such as Century 21, Remax, Coldwell Banker. Young entrepreneur Zeynep “Z” Ekemen has launched a new division, Independent Agent Network (IAN), which is currently targeted towards only Residential Realtors. The unique model is designed for top producers, experienced agents, and those agents who have the drive to further their careers by writing their own path.
In a typical national corporate agency setting, an agent can pay anywhere from 10% to 50% of their earnings to the Broker. IAN offers an innovative compensation policy that enables residential agents to significantly maximize their income potential by earning 100% Real Estate commission on each transaction. Under the IAN model residential agents pay a monthly flat fee of $599.00 per month; typically one closed Real Estate transaction will pay for one full year of fixed monthly fees.
The San Jose-based online payment company moved into an 8,000-square-foot ground floor space at 174 Hudson Street on Oct. 3 2011. “The building, known for its open space and towering windows, was an ideal location for the online money
exchange company to introduce retailers to new technology the firm hopes to introduce in 2012”, said Jamie Patricio, a PayPal spokeswoman.
“The space is geared entirely to retailers, making their location more of a ‘trade conference’ than a ‘storefront,’ said
As an example, if an agent’s annual gross income is $209,000 for the year and he/she has a split for 50% with his/her agency, the agent will be left with $104,500. Even if the agent has a great split contract at 80%, based on the above number he/she is still left with $167,200 after the Broker fees are taken out. With the IAN model, an agent pays a total of $7,188 to the Broker and takes home the rest of his/her earnings. (Gross income of $209,000 based industry average on 2 Residential Rentals per month averaging $7,000 commission and 5 Residential Sales averaging $25,000 commission.)
This revolutionary system provides true freedom to Residential Realtors of New Jersey. “We are looking for independent Agents who have entrepreneurial drive,” said Zeynep “Z” Ekemen. While Z Realty Group is very excited about its IAN model, it is quick to note that the model is not for every Agent. Agents must have a high degree of drive to make this model work for them.
Z Realty Group is ready to launch its Istanbul Branch Office by Summer of 2012. The firm has already worked with respected Turkish companies such as Latek Group and Çalışkan Group who have expanding their businesses into the United States.
The Istanbul branch will mainly concentrate on providing Industrial and Warehouse type of properties to corporations involved in Import/Export, Logistics and Livestock Trading planning to enter into the American market.
Prior to starting her own company Ekemen was a Managing Partner in “Cup It Food”; a franchise concept based on small point of sale kiosks located in shopping centers, amusement parks, exhibition center, theaters and stadiums. In this position, Ekemen was directly responsible for acquiring retail space, negotiating leases, site selection, construction and full
A graduate of Pace University with a degree in Accounting, Ekemen also holds a Master of Business Administration degree.