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Jenna Riley
Name: Jenna Riley
Title: Realtor, Bean Group Real Estate
Age: 44
Experience: 19 years
Jenna Riley has just about seen it all while selling real estate on both sides of the Massachusetts/New Hampshire border for nearly two decades through some of the best and worst markets the region has ever seen. Originally from the Granite State, she married a Haverhill firefighter and moved to Haverhill, Massachusetts, raising her family on the same street her husband grew up on. In addition to being a full-time real estate agent, she’s the business manager for radio station WXRV 92.5 The River and spends her scarce free time watching her four daughters on the softball diamond.
Q: What did you do before you became a Realtor?
A: I was a paralegal for an attorney in North Andover. When I was looking for my own house, I had a toddler and was expecting our second daughter and agents would show us a property that was clearly wrong for us, like a house with a cliff for a backyard or a first-floor master bedroom and the kids’ rooms were upstairs. All you needed to do is look at me to know that wasn’t going to work. They didn’t listen or observe and that peeved me.
I realized that I understood the legal and financial parts of real estate and I know how to listen to people. I had been studying the market and I knew some mortgage brokers. I taught myself all of that, so I thought I could do both. I thought I would still be a paralegal and sell real estate on the side. Then when the market picked up and the bubble started to grow, it was too much and I left the attorney. I loved what I was doing and with two young kids I could make my own hours. I worked for a small, local, privately owned agent in Haverhill first. I learned as much as I could from her for a year. It was like boot camp. Then I went to RE/MAX because I knew they were known for being experienced. I had a really good run there, while the market was going up.
Q: What happened when the market turned around?
A: We all felt that. It happened when I had my twins, so it was a mixed blessing for me. I was able to slow down and not work as much. The market was less demanding and I didn’t feel like I was missing out on anything. As a career woman and a mother, you’re always torn. Prioritizing was really hard and I’m not the type to hire an assistant or share work with anyone. I’m too controlling. I eventually had to leave RE/MAX and go to [Bean Group Real Estate] because it is more affordable and they offered a lot of support.
As the bubble burst, the market became much more digital. You started to see sites like Zillow and Realtor.com got bigger. Buyers realized they could do more on their own with technology and I needed to make sure I was with an affiliation supported that and put me in front of that, so I was able to ride the technology wave.
Bean is great because we have offices everywhere and you can work wherever you want. For the most part, we’ve been writing offers on the hoods of our cars and with DocuSign and DotLoop, it keeps it simple.
Q: What about your work at The River?
A: When the market was still suffering and I couldn’t handle any more foreclosure properties – I mean, when you bring your husband with you to make sure there are no squatters – I still remember the first time I saw a bottle of hydrogen peroxide sitting on the floor in the middle of a vacant house. I had no idea it was drug-related paraphernalia. When the twins were old enough for me to get busy in real estate but the market wasn’t, I fell upon the River. They were looking for a business manager with a super flexible schedule and I loved it.
The market is back and I’m really busy, but I’m blessed to still be able to juggle it all. We are locally owned and operated and generate income from commercials and events. Basically, I manage the money and billing. Because of my real estate experience, I’ve also adopted the facilities part of it and a building from 1944 is not super fun but we try to keep on top of it. I’m here Monday through Friday and I meet clients after work and weekends. Typically, that’s when they want to see properties because they work during the day too.
Q: How does the Massachusetts market differ from New Hampshire?
A: My Massachusetts clients who ultimately want to cross the border do it because you can get more house for the money in New Hampshire, but you’re going to pay more in property taxes. At the end of the day, you don’t save a ton of money, though it depends on the town and the client. You have to figure a three-bedroom, two-and-a-half bath Colonial will run over $400,000 in Haverhill. But in Plaistow, it would be $375,000 to $390,000. That feels huge to the buyer, when it basically comes out in the wash with taxes and commuting. It’s a misconception.
Also, some lenders offer financing for rural developed areas, which you can still find in New Hampshire. A first-time homebuyer who only wants to put 3 to 4 percent down on a property is going to find more success in New Hampshire than in Massachusetts. To qualify in Massachusetts is a lot harder. The property has to be so specific and perfect, it’s like finding a needle in a haystack. I have a property coming on the market in Plaistow that is technically distressed. It would not fly with an FHA loan, but a local rural loan program would have no problem with it.
Anything under $300,000 is flying off the market right now in both Massachusetts and New Hampshire. The buyers are just waiting to pounce. Inventory is lacking in both states. If a property is on the market for 45 days and hasn’t sold, something’s up or it’s overpriced. We’re worrying about things appraising right now with prices rising so quickly. As long as rates continue to be kind, I think prices will stabilize.
The laws are very different in both states. My paralegal degree helps in that arena, but I still have to double-check everything. New Hampshire is “Live Free or Die.” Massachusetts is much more rigorous.
Riley’s Five Favorite Songs About Moving:
- “Move,” by Saint Motel
- “Gone, Gone, Gone,” by Phillip Phillips
- “Let Me Move You,” Jimmy Hendrix
- “I Like to Move It,” Reel to Real
- “You Gotta Move,” The Rolling Stones
