NJ broker says he saves green by going green

Paramus, N.J. real estate broker Carmelo Oliveri claims his new brokerage, Property Hub Realtors, has found the secret to cutting costs: going paperless. After his home state passed a regulation last April allowing brokers to keep electronic records instead of paper ones, he began forming his company, according to Inman News, hiring nine agents who work from home. Property Hub’s office costs $1,675 a month to operate, including rent, utilities and multiple listing service fees, Oliveri said. Similarly-sized traditional brokerages cost between $6,000 and $9,000 a month to run, Inman estimates. Oliveri, who previously worked as an agent with Exit Realty, Coldwell Banker and Re/Max, said that the technology he’s using is “underutilized in the real estate world.” In New York City, agencies like Rutenberg Realty have also pushed for a more streamlined office approach, with most agents working from home. [Inman]