Commercial Connections Winter 2014: Invest in Yourself and Strengthen Your Foundation

8/10/2019 Commercial Connections Winter 2014: Invest in Yourself and Strengthen Your Foundation

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CONNECIONSCOMMERCIAL

A P U B L I C A T I O N B Y T H E N A T I O N A L A S S O C I A T I O N O F R E A L T O R S®

VOLUME 15 / I SSUE 4 / WINTER 2014

INVES IN YOURSELF ANDSRENGHEN YOUR FOUNDAION

AL SO I N T H I S I SSU E :

NAR V IEWPOINT / A No te f rom The NAR Pres iden t

ADVOCACY / Ask The Exper t s

ENRICHMENT / A f f i l i a tes I n Ac t ion

BUISNESS T IPS / T rends , I ns igh t & Sound Adv ice



THE LATEST

LearnTe newest segments of NAR’s Commercial Podcast feature industry

experts on issues ranging from energy sustainability, doing commercia

real estate business in multiple states, women in commercial real estate

and ways to give back to your community.

Realtor.org/podcasts/commercial-podcast

AccessDid you miss the REALOR® Conference & Expo in New Orleans

We’ve got you covered. Get access to session and meeting recaps

video interviews and more all at NAR’s commercial real estate blog

Te Source.

Blog.CommercialSource.com/category/nar-2014-annual-convention

Discover Te REALOR® Safety program was created to help NAR Members

understand the risks they face through knowledge, awareness, and

empowerment. You’ll find tips for visiting properties, offi ce safety, and

general best practices for staying safe.

REALOR.org/Safety

Attend NAR will be exhibiting at MIPIM, one of the largest commercial real

estate conferences in the world, held in France, this coming March

2015. As part of our presence, NAR has negotiated a significant

discount on registration fees for NAR Members. With an increasing

amount of money flowing into commercial real estate in the U.S., this is

an opportunity for you to expand your network and potential business.

REALOR.org/MIPIM

Explore Want some inspiration to grow your career in 2015? Stretch you

wings by attending one (or more) of the top commercial real estate

events hosted by the National Association of REALORS®; NAR’s

commercial affi liate organizations; REALOR® associations; and other

commercial national organizations, franchises, and firms happeningaround the country.

REALOR.org/Commercial/events-calendar

Share Do you have ideas for an upcoming issue of Commercial Connections

We’re always open to receiving your feedback on information that wil

help you improve your business. Send your suggestions to Lauren Van

Holten at [email protected].

NAR PRESIDEN

Chris Polychron, GRI, CIPS, CRSHot Springs, AR

NAR COMMERCIAL LIAISON

Daniel E. Sight, CCIM, SIOR Leawood, KS

COMMERCIAL COMMIEE CHAIR

Steven Moreira, CCIM, CIPS, GREENLongwood, FL

CHIEF EXECUIVE OFFICER

Dale A. Stinton, CAE, CMA, CPA, RCE

SENIOR VICE PRESIDEN

COMMERCIAL & GLOBAL SERVICES

Janet Branton, CAE, CIPS

VICE PRESIDEN

COMMERCIAL & GLOBAL SERVICES

Jan Hope, RCE, CIPS

DEVELOPMEN

& SERVICES DIRECOR

Jean Maday, RCE

MARKEIN G &

COMMUNICAIONS MANAGER

Lauren Van Holten

RESEARCH DIRECOR

George Ratiu

DEVELOPMEN & SERVICES COORDINAOR

Shara Varner

LEGISLAIVE POLICY REPRESENAIVE

Erin Stackley

REGULAORY POLICY REPRESN AIVE

Stephanie Spear

PRINED BY

Omega Printing, Inc. An Inc. 500 and NAPL Hall of Fame Company

www.omegaprinting.com

www.facebook.com/NAR.CommercialRE

www.witter.com/commsource

tinyurl.com/REALORCommercial



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W I N T E R 2 0 1 4 3

NAR V IEWPOINT

Serving as part of the NAR Leadership team, I’vetalked with members across the country about theirneeds and what NAR means to them. I’ve gained adeeper understanding of what it takes for you and Ito become stronger practitioners – and to continue tobuild a stronger organization. I believe that one of the

best things we can accomplish is striving to achieveexcellence through education and involvement.

As a member of NAR, you have access throughour commercial affi liate organizations to the bestcoursework, instructors, and most prestigious industrydesignations. Investing in yourself will benefit youtoday and in years to come. Tere’s value in theeducation itself, and in expanding your network ofcolleagues. Tis year, consider attending a new course

or starting your path to pursue a designation.

I am a big advocate for getting involved in your localassociation. Participating as a committee member orbeing actively engaged in your community can lead tostate and national involvement in the organization. Forcommercial real estate professionals like yourself, yourexpertise can help shape the economic development

in your market as you generate new business andinfluence NAR’s position in the industry. NAR is actively engaged in efforts to protectyour ability to do business. We’ve lobbied forreauthorization of the errorism Risk Insurance Act

(RIA), and I’m proud that so many NAR membersresponded to the recent Call For Action on RIATis demonstrates how the depth and strengthour collective voice can impact Capitol Hill. encourage you to stay vigilant and aware of the othercommercial real estate issues that NAR’s advocacy isfocused as we move into 2015, especially Like Kind1031 Exchanges, the Marketplace Fairness Act, and Waters of the U.S.

Te value that you, our commercial real estateprofessionals, bring to NAR is immeasurable. You helpcreate small businesses, jobs, and grow the economichealth of the cities and towns in which we live. NARsupports you in your efforts, and is your partner forfuture success.

What are you hoping to accomplish in this next year? It’s something I’ve

thought about.

C H R IS PO L YC H R O N , G R I , C IPS , C R

A NOEFROM HEPRESIDENBY CHRIS POLYCHRON, GRI , C IPS , CRS



CC: In the 114th Congrees, what legislativeand/or regulatory issues do you expect to be

top priorities?

ES: We’ll focus on protecting Section 1031 Like-KindExchanges, and plan on spending time educatingMembers of Congress on the importance of thatprovision to both commercial real estate and theeconomy as a whole. We expect a lot of unfinishedbusiness to be introduced again – such as theMarketplace Fairness Act, which allows states to levystate taxes on online purchases. Also, we expect tosee lawmakers get more involved in new issues such

as the commercial use of drones and crowdfundingregulations.

SS: From a regulatory perspective, many provisions ofthe Dodd Frank Act will become final in 2015, which will impact lending. We are excited to see the launchof SBA One, a program designed to streamline theapplication process for SBA loans. We expect to see the

finalization of the FASB Leases Project, and anticipatethat FASB will retain its own lease accounting standardand not converge with the IASB. Tere will be more

conversation about Waters of the U.S. and we hope tosee some progress on changing the definition.

CC: What hot advocacy issues pose the mostrisk to commercial practitioners nationwideor regionally? And what issues have the most

potential to benefit them?

ES: Te Marketplace Fairness Act legislation wouldhelp to level the playing field between traditional

brick-and-mortar stores and online retailers, resultingin more storefront businesses bringing money back tolocal shopping centers, which will be a big help to oucommercial members.

SS: Tis year we will be focusing on banking andlending and the rule changes surrounding that. Somechanges will be risks, others will be opportunities

A SK HE EXPERSA Q&A WITH NAR’ S COMMERCIAL POL ICY REPRESENTAT IVE STAFF MEMBERS ,ERIN STACKLEY & STEPHANIE SPEAR

[email protected] and [email protected]

ADVOCACY

4 W I N T E R 2 0 1 4

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COMMERCIAL CONNECIONS



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Crowdfunding as an alternative source of lending for

CRE could be a risk or a benefit, depending on howthe SEC rules come out. We also anticipate rules in late2014/early 2015 from the FAA permitting commercialuse of UAVs, which could again be a risk or benefitdepending on how the rules are written.

CC: NAR held a number of Hill visits withcommercial members this year — can you

give us an update on those meetings?

ES: Recently, the Coalition to Insure Against errorism(CIA) had a “Hill day,” where member organizations(NAR is a steering committee member of CIA)visited key Congressional offi ces to urge a long-termreauthorization of the errorism Risk Insurance Act(RIA). Dan Wagner of the Inland Real Estate Group,Inc., 2015 Chair of the Commercial Legislative &Regulatory Advisory Board, attended representingcommercial members. Tese types of visits are alwayshelpful to raise the profile of the issue and NAR as anorganization on the Hill.

CC: Describe what a typical day is like for you and the other government affairs staff.

ES: A LO of reading! We have to stay current on a lotof issues, and sometimes things can turn surprisinglyfast in D.C. Along with publications including Te

Hill, Politico, and the WSJ – I keep up with what’s

being discussed on the House and Senate floors whilethey’re in session. I also attend Congressional hearingson topics that affect Commercial Real Estate – it’s goodto be there in person when it’s an important issue, torepresent NAR and show that we are keeping track ofthings.

CC: What are some of the ways members can get more involved with national issues on alocal level?

ES: Te easiest way to participate is by participating inthe Calls for Action, which have a big impact in D.C Working with their GADs, FPCs, and state and locachapters is a great way to start, and they should alwaysfeel free to reach out to us in the D.C. offi ce to askquestions about issues.

SS: We encourage REALOR® members to developrelationships with legislators, especially when they are

in-district. Becoming educated about an issue andgetting involved on the NAR committee that handlesthat is a good way to start. Make yourself the localexpert on the issue you’re passionate about.

S T E P H A N I E S P E A R , N A R ’ S C O M M E R C I A L P O L I C Y R E P R E S E N T A TI V E S T A F F M E M B E

“Make yourself the local expert on the issue you’re passionate about.”


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ENRICHMENT

KEY RESOURCESCCIM Designation Curriculum that represents thecore knowledge expected of commercial real estateprofessionals. Tose who hold the designationaverage 42% more transactions than other brokeragespecialists.

Ward Center for Real Estate Studies offers courses that are an affordable, accessible way to learnfinancial and investment analysis, negotiation, andcommunications skills. Most courses are availableonline and qualify for CE credit.

WHA’S NEW IN 2015Foundations for Success in Commercial RealEstate covers the skills and business practices thatpave the way for success.

Financial Analysis for Commercial InvestmentReal Estate teaches you how to make betterinvestment decisions with the CCIM Cash FlowModel for real estate analysis. Tis course is availableonline, in classroom, and a new blended learning

format, which combines interactive online activities with a shorter traditional classroom setting.

CCIM’s Annual Conference will be held October29-30th in Austin, X

O LEARN MORE

www.ccim.com/education

A FFILI AES IN ACI ONSTRENGTHEN YOUR EXPERT ISE AND EXPAND YOUR NETWORK

As the commercial real estate market is nearing pre-recession levels in pricing and transaction activity, hiring levels arealso back up within commercial firms, so now is the time to enhance your commercial real estate expertise through thevariety of education offerings from NAR’s five commercial affi liates.

KEY RESOURCESTe Counselors of Real Estate® is an internationalprofessional association for leaders in the field of realproperty advisory services (real estate counseling).

While membership and the CRE designation isoffered by invitation only, the organization is aresource on topics reflecting the diversity in the realestate marketplace.

Teir publication, Real Estate Issues, is availableonline, featuring articles such as Te Counselors’

annual op en Issues and rends Affecting RealEstate.

Te CRE Library features recent books, marketreports, monographs and selected articles written byCRE members.

O LEARN MORE

www.cre.org/publications www.cre.org/library



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KEY RESOURCES

A wide array of valued, in-demand professionaldevelopment courses both online and in theclassroom at locations around the world. Self-PacedOnline Courses, utorials, Financial Analysis ools,Videos, Webinars and more.

Certified Property Manager (CPM) designation, Accredited Commercial Manager (ACoM)certification

WHA’S NEW IN 2015IREM’s Fall Conference will be held October 20-24in Salt Lake City, U

O LEARN MORE

www.irem.org/education

KEY RESOURCES

Te SIOR Center for Career Advancement providescommercial real estate education throughout theyear focused on the industrial and offi ce arenasOnline, Classroom and Conference educationoptions.

WHA’S NEW IN 2015Offering three designation courses in 2015allowing attendees to complete the entire educationrequirement for earning the SIOR designation.

Updated online ethics class, additional new onlineeducational opportunities and live instructor ledseminars throughout the year.

SIOR’s Fall World Conference will be held October8-10 in Chicago, IL.

O LEARN MORE

www.sior.com/education

KEY RESOURCESLand is a specialty. With “land under all,” theprofessional development and networkingopportunities offered by the REALORS® LandInstitute are vital to all in the profession of real estate.

Trough its LANDU curriculum, the AccreditedLand Consultant (ALC) designation is bestowed

to those real estate practitioners who achieve thehighest levels of education, experience, productivity,and professionalism.

WHA’S NEW IN 2015 2015 National Land Conference will be held March23-25th in ucson, AZ

O LEARN MORE

www.rliland.com/landu-courses


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ADVICE

BE PASSIONAE. Being engaged shows you care about your clientsfirst and not just your pocketbook. Chasingdeals for revenue sake only creates stress.

PAIENCE, BUSINESS PLANS AND

VOLUNEERING. Respect your clients, listen to what they have tosay and understand their problems. Deals cantake a long time in commercial real estate, sopatience is important. Developing a business planat the beginning of the year with different levelsof revenue projects also helps maintain focus.Serve on local, state or national committees- theyneed you and fresh faces are welcome! Working with other smart people to collaborate on greatideas has impact, which you can then apply to

your business while gaining the trust of others.

EDUCAION. Education is an investment in you. Educationcould be skill based or knowledge based buteither way, pursing it is the key to evolvingalongside our clients. eaching a course countsfor education too.

BRANDING BY WORD OF MOUH. Wharton Marketing Professor Jonah Bergerkeynote speaker at the recent SIOR FalConference, spoke about ways to build yourcompany by growing your reputation via“word of mouth,” which has a higher ROI

than advertising. Te 6 concepts he introducedincluded: social currency, creating a trigger, usingemotions, giving away private information to thepublic, using practical value and telling stories A clear value proposition is required in ordefor people to engage with you and pay for yourservices.

LEVERAGE YOUR IME. You can’t do everything. Create a team in-house

or with other brokers to share fees and time Your time can be leveraged so that you canprospect for more work. Evaluate prospectiveclients/projects to see how “concrete” thisproject is to you.

Some of you may be starting out in commercial real estate, while others

have been in the industry for decades. As competition grows, no matter how

successful any of us may be, there are ways to continue growing one’s career.

5 I DEAS OEN RI CH YOU RCAREERby Rob Nahigian, FRICS, SIOR, CRE, MCR

[email protected]

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m

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WHA A DVICE

WOULD YOU GIVE TO YOUR YOUNGE R SELF IF YOU WERE

JUST START ING YOUR COMMER CIAL

REAL ESTATE CAREER?

“I would have focused on a single property type. Don’t

try and work on every type of business that comes your way. Have the discipline to pass other types of work toothers. Tat helps you become the expert in whateveryou choose.” — Louis Nimkoff, CCIM, CPM

“You don’t realize how valuable your reputation is;protect it above all else. In life and in this business, youmight be tempted to trade your values for somethingtemporary: a deal, a new client, something that seemsexciting and new. oday I value my reputation morethan I do a deal or a client.” — Kirk Buttle

“Network, network, network- you cannot network toomuch to spread the word on who you are and what youoffer.” — Bill Eshenbaugh, ALC, CCIM

“Tere is no short answer or short cut to success in thereal estate business, but always focus on networking andgiving back to your community and industry.”— Charley Ray, CCIM, GRI

“Education is the key to a successful career in commercialreal estate, as long as you keep in mind the central truth, which boils down to ‘see the people, see the property.’Once you’re face to face with your customer, keep inmind you need to listen more than talk. Remember,it’s not about you, it’s all about the customer and theproperty.” — Jose Maria Serrano, CCIM

“Pay attention to the life lessons and advice offered alongthe way. We don’t always have to learn through pain andloss. We don’t know everything.” — edd RosensteinCCIM

“Being involved in the real estate business is likemanaging a daily train wreck. One call, email or text canquickly change the most organized day. Despite that, tryto be present and prevent things that get in the way ofyou being focused on and present with your clients andcustomers.” — Eugene Szpeinski, GRI, EPRO

“If I were just starting out, I would focus on fewerproperty types by specializing in one or two, and try todo fewer (but larger) deals.” — David Choate

“Focus! It is very diffi cult to be the best at everything and

while maintaining a competitive edge can be a struggleremember that ‘mediocre’ is not a motivating state.”— Nick Zigic, CIPS

“ While it’s great to do lots of different kinds of deals,it’s much easier and a more effi cient use of your time tofocus on a specific business practice or geographic area.”— Wayne Caplan

“Ask as many questions as possible from senior brokersand never let them say that they’re too busy to get back

to you. Meet as many people as possible. Networknetwork, network. And when you are done, networksome more. oday’s young broker has to pick up thephone or meet a client, prospect in person and not justemail or text.” — Stephen Provancher

“Obtain all of the advanced education you possibly canin your area of specialty. Tey must provide importantvalue. In addition to obtaining advanced education, thebest practitioners know how to apply that education to

get results.” — Mark Macek, CCIM

“I would say to my younger self: you will get there, butdon’t forget to enjoy the trip!” — Alex Ruggieri, CCIM

“Keep the faith, success will follow, but remember youcannot do everything by yourself and praise those whoare the basis of your success.” — William H. Poteet, JrGRI, CIPS, AHWD


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ALABAMA

erry PonderPonder Properties CommercialReal Estate LLCBirmingham Area Associationof REALORS®

2014 Outstanding Member 2014 Agent for Change

CALIFORNIA

Melanie Holthaus, CIPSPremier CenturyReal Estate ServicesNorthern California Commercial

Association of REALORS® Milpitas Economic DevelopmentCommission 2013 - Recognition ofService and Dedication

Rich KrinksHarbor Bay Realty

Alameda Associationof REALORS®

2013 REALOR® of the Year

Lou LollioKeller Williams Realty Beverly Hills/Greater Los Angeles

Association of REALORS®San Diego Business Journal’s 2014op Deal Awards Key PlayerIndustrial - Up to $ 5 Million

Jack MaullerMauller and Associates, Inc.REALORS® Commercial Allianceof Orange County

2013 Community Service Award

odd Sanfilippo, SIOR CBRESacramento Associationof REALORS®

Association of Commercial Real Estate 2013 Broker of the Year Awards

Dottie SurdiSperry Van NessGreater San Diego Associationof REALORS®

Appointed to the City of San DiegoHousing Commission by

Mayor Faulconer

Nick Zigic American Business andReal Estate Center

Arcadia Association of REALORS®Volunteers of Economic Growth

Alliance: Dispora AwardHonorable Mention

COLORADO

Scott PetersonCounsel Realty Group, LLCDenver Metro Commercial

Association of REALORS® 2013 Broker of the Year

CONNECICU

Jay Wamester, SIOR Colliers InternationalGreater Hartford Associationof REALORS®Co-Star Power Broker Award,

2013-2014

FLORIDA

Carol BerntonKeyes CommercialREALORS® Associationof the Palm Beaches

2013 REALORS® Commercial Alliance - REALOR® of the Year

Bill Eshenbaugh, ALCEshenbaugh Land Company Florida Gulfcoast Commercial

Association of REALORS®Te Henry H. Blanton Lifetime

Achievement Award & Overall Dealof the Year Award

2014 NAIONA L COMMERCIAL AWARDS

NAR is proud to recognize these REALORS® for excellence in thecommercial real estate industry this past year.



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FLORIDA continued

Dave FerroFerro Commercial Realty, LLC

Gainesville Alachua County Association of REALORS® 2013 REALOR® of the Year

Lori Hellstrom, CCIMOsprey Real Estate ServicesSarasota Associationof REALORS®

2013 Commercial REALOR®

of the Year

Gordon MacLean, CCIMNWF Realty, Inc.Emerald Coast Associationof REALORS®Commercial Chapter 2013REALOR® of the Year

Lou Nimkoff, CCIM, CPMBRIO Real EstateOrlando RegionalREALORS® Association

2014 Florida REALORS®Commercial Achievement Award

Kevin Platt Smith & Associates Real EstateGreater ampa Associationof REALORS®

2013 op Producer GeneralBrokerage Pinnacle Awards

Bill Poteet, CIPS, GRIPoteet Properties, Inc.Naples Area Board of REALORS®REALOR® of the Year

Jose Serrano, CCIMNew Miami Realty Corp.Miami Association of REALORS®Commercial REALOR® of the Year,

2013

GEORGIA

Kirk ButtleCBRE

Atlanta Commercial Boardof REALORS®


Dwayne HicksMetro West Realty

West Metro Board of REALORS® 2014 Visionary Award

Donnie Laurens, CPM, SIOR Fickling & Company Middle Georgia Associationof REALORS®Georgia Association of REALORS® -


ILLINOIS

Sandra Hamilton, GRIRE/MAX Professionals Springfield

Capital Area Associationof REALORS® 2014 Community Service Award

Dan WagnerInland Real Estate GroupChicago Associationof REALORS®Greater Oak Brook Chamber of Com-merce Chairman of the Board 2014

INDIANA

Brad KingRE/MAX Ability PlusIndiana Commercial Board

of REALORS®REALOR® of the Year 2014

KANSAS

Mike FosterFoster & Associates, Inc.

Kansas City Regional Associationof REALORS® Allen J. Block Commercial Brokerof the Year

KENUCKY

Kevin Grove, CCIMCBRE

Greater Louisville Associationof REALORS®Kentucky Commercial Real Estate

Alliance 2013 Industrial Brokerof the Year

LOUISIANA

Frann RyanFranklin-Sykes Realty, Inc.New Orleans Metropolitan

Association of REALORS® 2014 “Service to the Industry” Award– Commercial Investment Division

MAINE

John AndersonInvestcomm Commercial GroupMaine Commercial Associationof REALORS®


MARYLAND

Wesley Cox Sperry Van Ness MillerCommercial Real EstateCoastal Association of REALORSCoastal AOR & Maryland AOR -Community Service Award



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MASSACHUSES

Scott SimpsonCentury 21 DeNault Realty, Inc.

REALORS® Commercial Allianceof Massachusetts 2014 REALOR® of the Year

MICHIGAN

John Francis, CCIMPrime Development

Commercial Allianceof REALORS®


Gene Szpeinski, GRISignature AssociatesCommercial Board of REALORS®


MISSISSIPPI

Michael Flannes, CCIMNancy LaneCommercial Realty, Inc.Mississippi Commercial

Association of REALORS®


MISSOURI

Mark PalmerCBRE

St. Louis Associationof REALORS® 2013 Heavy Hitters of St. LouisWork Hard Play Hard –Broker with Most ransactions

Gregory SchoweTomas Realty Group, LLCSt. Charles County Associationof REALORS®

2013 Commercial Recognition Award

NORHCAROLINA

Charles Fulk, CCIMMeridian Realty Group

Winston-Salem Regional

Association of REALORS®Commercial Practitioner of the Year

Matthew HarperChildress Klein PropertiesCharlotte Region CommercialBoard of REALORS®

2013 President’s Award

Lynn Harris, CCIMCentury 21 Sweyer & Associates

Wilmington Regional Associationof REALORS®

2013 REALORS® Commercial Alliance of Southeastern NorthCarolina Member of the Year

Cindy Chandler, CCIM, CRETe Chandler GroupNorth Carolina Associationof REALORS®

Appointed to the North CarolinaReal Estate Commission byGovernor McCrory and electedas Vice Chair

NEBRASKA

Drew Stange, CCIMNAI FMA Realty REALORS® Associationof Lincoln

Midwest Real Estate News - 2013Commercial Real Estate Hall of Fame

NEVADA

edd Rosenstein, CCIMNevada Development & Realty Co.Greater Las Vegas Associationof REALORS®

2014 Commercial Alliance Las Vegas Member of the Year

NEWHAMPSHIRE

David Choate IIIColliers InternationalNew Hampshire CommercialInvestment Board of REALORS®


NEW MEXICO

Dave Hill, CCIMNAI Maestas & Ward

Commercial Associationof REALORS® New Mexico 2013 REALOR® of the Year

om Whatley, GRNSteinborn & Associates Real EstateLas Cruces Associationof REALORS®

2014 Peggy ComeauLeadership Award

NEW YORK

Dana CrockerHUN Commercial Real EstateNew York State Commercial

Association of REALORS® 2013 REALOR® of the Year

OHIO

Cliff BellarRE/MAX Crossroads PropertiesMedina County Boardof REALORS®


David BrowningCBRE

Akron Cleveland Associationof REALORS®

2014 Commercial REALOR®of the Year



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OHIO continued

Stephen Wittmann, CPMStephen S. Wittmann & Co.Columbus Association

of REALORS®Erika Blumenstein Memorial Award

OKLAHOMA

Melanie RichardsonFirst Commercial Real Estate

Greater ulsa Associationof REALORS®


PENNSYLVANIA

David Keech, CCIM, SIOR ROCK CommercialReal Estate, LLCREALORS® Association of

York & Adams Counties Community Service Award

RHODEISLAND

Jamie Moore Jamie Moore Appraisal ServicesRhode Island Commercial and

Appraisal Board of REALORS® 2014 REALOR® of the Year

SOUHCAROLINA

J. Charley Ray, CCIM, GRI

Ray Realty, Inc.South Carolina Associationof REALORS®

2014 Distinguished Service Award

William Sherrod, CCIMLee & AssociatesCharleston rident Associationof REALORS®


yson Smoak, CCIMNAI Earle Furman,LLCGreater Greenville Associationof REALORS®

2013 Caine Halter CommercialREALOR® of the Year

ENNESSEE

John Adams, CCIM, SIOR Cushman & Wakefield CornerstoneKnoxville Area Associationof REALORS®East ennessee CCIM Deal

of the Year Award

Scott Pahlow, SIOR Newmark Grubb MemphisMemphis Area Associationof REALORS®

2013 Commercial Broker of the Year

EXAS

James Blake, CCIMSperry Van NessGreater Fort Worth Associationof REALORS®Charles D. andy CommercialREALOR® Award

Allen Gump, CCIM, SIOR Colliers InternationalNorth exas Commercial

Association of REALORS®Stemmons Service Award

Donald HaireColdwell Banker Impact PropertiesHarlingen Board of REALORS®


VERMON

Meg McGovern, ABR Donahue & Associates

Vermont Commercial InvestmentBoard of REALORS® 2014 REALOR® of the Year

VIRGINIA

Robert Brown, Jr.

Robert Brown & Associates, Inc.Hampton Roads REALORS® AssociationHampton Roads Commercial AlliancSales & Leasing Achievement Award

WISCONSIN

Michael Fardy Colliers InternationalCommercial Associationof REALORS® Wisconsin

2013 Offi ce Deal of the Year

Congratulations to thisyear’s winners!

www.realtor.org/CommercialAwards

For more information about theNational Commercial Awards program, visit



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BUSINESS T IPS

HREE

COMMONEXPENSER ACK IN G MI SAK ESby William Olsen, CPA, Co-founder and VP Product Development at

[email protected]

Mileage Log: A common misconception is thatyou have to write down your beginning and endingodometer every time you get in and out of your car forbusiness. An ending odometer at the end of December, which becomes the beginning odometer for the startof the new tax year, is all you need to know to havethe total number of miles driven during the year. Yourbusiness mileage log only needs three things for each

entry: 1) Date 2) Miles driven and 3) Description ofthe business purpose.

Saving Receipts: Te offi cial rule is that a receiptis not needed unless the expense is over $75 or forlodging, but there’s a caveat. Detailed receipts arerequired regardless of the dollar value in two additionalcircumstances: 1) when you pay for deductible items with cash and 2) When the expense is not obvious.For example, if you purchase offi ce supplies at adrug store, a detailed receipt would be needed to

substantiate which items purchased were not personal.On the other hand, a receipt for a credit card purchaseto “Discount Business Cards ” for $36 would not benecessary.

Record Business purpose: Te most importantelement is to document the business purpose.It canbe as simple as writing the name of the person you

treated to lunch and the business purpose on thereceipt to substantiate a meal deduction; or a note inyour calendar to document the points of a meetingfor which you claimed deductible business milesDeductible business expenses must have a legitimatebusiness purpose and must be documented.

Whatever system you choose, make your life easier a

tax-time by documenting your business deductions ayou go instead of scrambling after the year is over. Fomore information about Deductr’s expense, mileageand time tracking system visit deductr.com/nar.



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BUSINESS T IPS

I PS FROM H E

WORLD OFCOWOR KI NG H EL PMA XI MI ZE HE VALU EOF YOUR S PACEby Sam Rosen, Founder of

[email protected]

You don’t have to run a dedicated coworking space totake advantage of the new way people are working.ons of small businesses, ranging from law firms todesign studios to real estate offi ces, are leveragingempty desks for cash. Utilizing your excess workspacecan offset real estate costs in a big way.

1. Be flexible and smart about the physical set up of

your space. Buy inexpensive things that can shiftand change easily. We went with Ikea butcherblocks and legs. It was cheap, it looked cool and wasmultifunctional.

2. Set expectations from the first day. Offer anorientation or walk-through to define clearboundaries. Tink through whether or not toprovide:

— Access to the physical space overall - Do they

get a key? Is it available 24/7 or just 9-5? Areconference rooms and communal spaces firstcome/first serve or do they need to reserve aspace?

— Access to equipment - Printing, offi ce supplies,any technology, what limits work for yourbusiness?

— Access to the network - Do they get a guestpassword? Are there limits to bandwidth?

— Access to kitchen / food - Is it a coffee free-for-all? Who does dishes?

3. Put community first. People, especially remote andindependent workers and small teams, are looking for

community. It’s why they are willing and interestedto spend time and money at your space.

4. Get social. Whether it’s a happy hour after their firstday or week or an all-offi ce brown bag lunch togetherbuild trust and build relationships with your renters.

If you have any questions about renting or managingyour space, or how to set a culture of success inyour space, feel free to reach out to Sam via email [email protected] or visit www.desktimeapp.com/nar

for more information.



CONVER

EN ERGY SAVI NG IN OCOS SAVI NGSby Chris Happ, CEO of

[email protected]

1 6 W I N T E R 2 0 1 4

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BUSINESS T IPS

1. Te easiest way to reduce cost – don’t use it. Adjusting your energy schedules, even 15 minuteson your building start-up and shutdown, can save

thousands of dollars a year.

2. A kilowatt isn’t a kilowatt – Energy prices varythroughout a 24 hour period. Attempt to use energy when demand is low – some utilities even pay you toconsume energy at off-peak hours.

3. Power down when away – simple devices suchas power strips and motion sensors on vendingmachines can save you thousands of dollars a yearand most importantly save consumption when notin use.

4. Measure it – SeaSuite customers average an 8-12%reduction in energy usage by monitoring what theyuse and actively looking for ways to reduce energy.

5. Incentives – ask your local utility about incentivesfor energy effi ciency; they may cover up to 50% ofthe cost of energy effi cient retrofits.

6. Energy savings doesn’t have to cost a lot of money.By tracking use and comparing to a normalized peerset, you can see how you compare and easily identifyopportunities.

Te Goby team works on gathering energy andsustainability data on over 300 Million Square Feetof commercial real estate on an annual basis rangingfrom the 10,000 foot retail space to the 5 Million footcorporate headquarters and the multi-tenant class A offi ce. Learn more at SeaSuite.com; we’d be happyto chat with you about these tips and other ways tomaximize energy use and effi ciency.



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5 QU IC K I PS FO R

GE I NG GREA,FAS , & CO MPE I IVECOM ME RCI AL RE ALES AE LOAN O FF ER Sby Chinwe Onyeagoro, CEO of

[email protected]

1. Get organized: Make sure you have all of the relevantpersonal, property, and business (if applicable)financial statements and tax filings prepared andready to submit beforehand.

2. Shop your deal: Tere are thousands of bank andnon-bank mortgage lenders in the marketplace;don’t limit yourself too early. Te more options youexplore, the more offers you’ll get.

3. Save time and paper: Choose lenders that value yourtime by providing online loan pre-qualification toolsand applications that enable you to streamline, and/or, eliminate paperwork.

4. Fit matters: Consider the duration of the loanterm, other origination and servicing fees, guaranteerequirements, post-closing liquidity standards,

annual compliance/reporting policies, and more.

5. Always be closing: Once conditionally approved,a lot of paperwork and property level due diligencestill needs to happen. Manage this process and stay inclose touch with the lender, so you don’t run the riskof missing your preferred closing timeline.

FundWell is a loan matching platform with over 300+bank and alternative lenders that has reached more than24,000 businesses and commercial real estate investors,achieving a 75% loan approval rate (compared to theindustry standard 30% approval rate). Learn more atFundwellre.com.



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BUSINESS T IPS

Te Counselors of Real Estate, an affi liate organization of NAR, has compiled the most significant trends and factors

shaping U.S. real estate in the coming year. Dr. David Lynn, CEO of Everest High Income Property and author ofTe Advisors Guide to Commercial Real Estate Investment (available at the REALOR® Store), discussed these indepth during his session at the 2014 REALORS® Conference & Expo. For the full article, visit the Source Blog ablog.commercialsource.com/ .

2015 REND S

1 2 34 5

6

8

9

ENERGY

JO BS

HEMILLENNIALS

HEALHCARE

GLOBALIZAION

WAER

MANUFACURING

CAPIAL MARKES

AGRICULURE

HOUSING

1 8 W I N T E R 2 0 1 4

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LEADERSHIP

As the year comes to a close, we want to thank these commercial professionals who have volunteered their time and expertise

to become involved at the national level during this past year in a leadership and governance role. A special note of thankto Linda St. Peter, CCIM, CIPS, GREEN who served as Commercial Liaison to 2014 NAR President Steve Brown.

A NOE OF HANKS

Commercial Committee

Chair Leil Koch, CCIM, CIPS, CPM, CRBVice Chair Steven Moreira, CCIM, CIPS, GREEN

Rodney AlderinkB. K. Allen, CCIM

Ahmed Badat, CIPS, EPROray Bates, CCIM, CIPS, SIOR

Jared Booth, CCIMFrancis Brown, GRI

Wayne CaplanDawn Carpenter, CPMCathy Coneway, GRI

Allan CorbettMike Craddock

James Evans, CPMKathie Feldpausch, RCE

Anjanette Frye, ABR, CIPS, EPRO Joseph Greenblatt, CPMMike Hillis, CCIM, SIOR Richard Hollander, SIOR Sheila Holley, GRI, EPRO

W. Alan Huffman, CPMBrett Hunsaker

Gregory Ibbetson, CCIM, CRE Jeffrey JonesKeith Kelley, ABR Susan Kelly, SRES, EPRO, SRSEdward Krauze

J Karl Landreneau, CCIM, SIOR Nancy Lane, CCIMTomas Larson

John Lynch, SFR Mark Macek, CCIM, GRI

Ali Mann Jared Martin, CCIM, GRI William Milliken, CCIM, CIPSDeborah NewellLouis Nimkoff, CCIM, CPM

Paul Ogden Joe Parker, CRE James Porritt William Poteet, CIPS, GRIStephen ProvancherMatthew Ritchie, CCIMBrandon Rogillio, ALC, CCIM

Alex Ruggieri, CCIM, CIPS, GRIRussell Salzman, RCEHenry ScholzMichael Schoonover, GREEN, SFR Daniel Smith, ALC, CCIMLinda St. Peter, CCIM, CIPS, GREEN

Drew StangeMargery Stratton, SIOR Eugene Szpeinski, GRI, EPRO

John ripp, CIPS, GRITeodora Uniken Venema, CIPS, GRI, EPRO, MRPMike Vachani, ABR, CIPSKenneth Vidar, CCIMDan WagnerSandra WareMelvin Wilson, SRES

Commercial Legislative & Regulatory Advisory Board

Chair James Evans, CPMVice Chair Dan Wagner

Rodney AlderinkKay Micheal Alexander, GRI

Wayne CaplanCindy Chandler, CCIM, CREMarie Costello, GRIBeth Cristina, ALCBenjamin Crosby, ALC, CCIM

Robert Goldstein, CPMRandall Hertz, ALC Jeffrey Jones, SIOR Leil Koch, CCIM, CIPS, CPM, CRB

J. Benjamin Mcgrew, CCIM, CPMChristopher MckniffSteven Moreira, CCIM, CIPS, GreenPeter Pitsiokos, CREHenry ScholzMichael Schoonover, Green, SFR Michael Silver, SIORLinda St. Peter, CCIM, CIPS, Green

Jim aylorKenneth Vidar, CCIMKelli Walker

Property Management Forum

Chair Anjanette Frye, ABR, CIPS, EPROVice Chair Keith Kelley, ABR

Large Commercial Firms Advisory Group

Chair Bob Mathews, SIOR

Joseph Cook Daniel GoodwinRandall Hertz, ALCGeoffrey Kasselman, SIOR Kevin Maggiacomo

Jay Olshonsky Ed Schreyer, SIOR Dan WagnerKaren Whitt, CPM, CRE

Commercial Real Estate Research

Advisory Board

Chair Cathy Coneway, GRIVice Chair

Jared Booth, CCIM

Arthur Burrows, CRE W.H. Burruss, ALC, EPROKrista ClarkGeorge Clift, ALC

Allan Corbett Alexis Fermanis Joyce Geiger, CPMRett HarmonRichard Hollander, SIOR Gregory HrabcakSoozi Jones-Walker, CCIM, GRI, SIOR Leil Koch, CCIM, CIPS, CPM, CRBChristopher Mellen, CPMSteven Moreira, CCIM, CIPS, GREENLouis Nimkoff, CCIM, CPMGeorge Ratiu

Alex Ruggieri, CCIM, CIPS, GRIRussell Salzman, RCEKevin Sigstad, CCIM, CPMMike Vachani, ABR, CIPS

Commercial Economic Issues & rends Forum

Chair

Brett HunsakerVice Chair NancyLane, CCIM

Commercial Leadership Forum

Chair ray Bates, CCIM, CIPS, SIOR Vice Chair

Jared Martin, CCIM, GRI



HAPPY

HOLIDAYS Wishing you, your organizations

and families a warm holiday season and

a prosperous New Year in 2015!


A P U B L I C A T I O N B Y T H E N A T I O N A L A S S O C I A T I O N O F R E A L T O R S ®

YOUR

IS HERE!

Documents

Commercial Connections Winter 2014: Invest in Yourself and Strengthen Your Foundation