Today our Commercial Department, along with Petra Construction, hosted a panel to teach the ins and outs of tenant fit-up costs, procedures, time lines, and taxes. Tony Santore from Beers Hammerman was our guest accountant.
We had a good turnout, and the group asked lots of questions. It's a big issue for us, since many deals now fall apart over the costs of tenant fit-up. The big lessons: Most people don't start early enough, or leave enough time; he who has the cash is king, and there's never been a better time to build; learning the tax ramifications, and getting your accountant involved early in the process, can save you a lot of money; and Realtors, developers, and construction professionals should all work together, even before the land is purchased or the lease is signed.
After the panel, guests were treated to two presentations, one on BIM (a new way to visualize the space before it's built) and the other on estimating. All agreed that it was a great morning, and those of us in the real estate business look forward to helping our clients understand the questions to ask, and when to ask them.
Showing posts with label realtors. Show all posts
Showing posts with label realtors. Show all posts
Tuesday, October 20, 2009
Saturday, August 15, 2009
Vacation!
Wow, it's been a long time since I've posted. I've been on vacation, which has coincided both with the only hot weather of the summer and our new puppy's arrival. That's kept me busy, but I did just finish reading Free by Chris Anderson, which is a book about all the things that we now get for free (mostly on the internet), and how that has changed business. Our industry, of course, is a great example.
When I started in real estate, all the information about all of the properties offered came in a printed book that was published every two weeks by our local Board of Realtors. Customers couldn't take it out of the office, so they had to come in to look at what was for sale. We controlled all the information, and thought that that was our salvation.
Fast forward to today: Our website gives away everything that we know about a property, and it does it without requiring payment or loyalty or even identification. We now map properties, so that you know where they are located, we tell you approximately what your own home is worth, and we post all the things we can think of that you might want to know.
What happened? Our role as Realtors has changed. We are now consultants, negotiating between buyers and sellers. We no longer work only for the seller, and we no longer rely on information as power. And what we've found is that people who use us, which they are no longer almost forced to do, get more for their homes, or pay less as buyers, than those who go it alone. Also, we save time, hassle, and costly mistakes. Are we worth it? You bet! Most people who buy or sell without a real estate agent say that they wouldn't do it again. There certainly is value in experience, expertise, and local knowledge. And we can still put all the facts on the Web. So take advantage of that, and log on anytime!
When I started in real estate, all the information about all of the properties offered came in a printed book that was published every two weeks by our local Board of Realtors. Customers couldn't take it out of the office, so they had to come in to look at what was for sale. We controlled all the information, and thought that that was our salvation.
Fast forward to today: Our website gives away everything that we know about a property, and it does it without requiring payment or loyalty or even identification. We now map properties, so that you know where they are located, we tell you approximately what your own home is worth, and we post all the things we can think of that you might want to know.
What happened? Our role as Realtors has changed. We are now consultants, negotiating between buyers and sellers. We no longer work only for the seller, and we no longer rely on information as power. And what we've found is that people who use us, which they are no longer almost forced to do, get more for their homes, or pay less as buyers, than those who go it alone. Also, we save time, hassle, and costly mistakes. Are we worth it? You bet! Most people who buy or sell without a real estate agent say that they wouldn't do it again. There certainly is value in experience, expertise, and local knowledge. And we can still put all the facts on the Web. So take advantage of that, and log on anytime!
Friday, December 12, 2008
Barbara's CT Real Estate Blog
Welcome to the first posting on Barbara's Connecticut Real Estate Blog. So much is happening at warp speed in the national real estate market that it seemed like a good time to try this new medium for communicating with clients and friends. As the financial crisis deepens, I'm bringing you something new that you can read when you're up worrying in the middle of the night.
I have been in the real estate business, in one way or another, all of my life. My father started our compnay when I was a toddler, so I have 50 years of history. I've never seen anything like this before. Credit markets for commercial real estate are, whatever banks may say to the contrary, frozen. Residential buyers are sitting on the fence, waiting to see what's going to happen. Realtors are sidelined.
Despite the bad news on every front, I'd like this to have a positive aspect to it. Greater New Haven is a wonderful place to live and work. We have so many colleges and universities that our region has a plethora of cultural offerings. Our shoreline, so conveniently located right outside the city, is a tremendous boon for recreation, beauty, and lifestyle. For example, today I got to work at home all morning, because high tide washed out our road and kept me from getting past our mailbox! That used to happen once a year or so, but this fall it's happened once a month. I wonder if it's our version of the dust storms during the Depression....
That's it for now. Back later with more on our region and real estate.
I have been in the real estate business, in one way or another, all of my life. My father started our compnay when I was a toddler, so I have 50 years of history. I've never seen anything like this before. Credit markets for commercial real estate are, whatever banks may say to the contrary, frozen. Residential buyers are sitting on the fence, waiting to see what's going to happen. Realtors are sidelined.
Despite the bad news on every front, I'd like this to have a positive aspect to it. Greater New Haven is a wonderful place to live and work. We have so many colleges and universities that our region has a plethora of cultural offerings. Our shoreline, so conveniently located right outside the city, is a tremendous boon for recreation, beauty, and lifestyle. For example, today I got to work at home all morning, because high tide washed out our road and kept me from getting past our mailbox! That used to happen once a year or so, but this fall it's happened once a month. I wonder if it's our version of the dust storms during the Depression....
That's it for now. Back later with more on our region and real estate.
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