Saturday, January 10, 2009

Miami Today: Back to Basics


"Now is time to go ‘back to basics,’ real estate groups say"
BY RISA POLANSKY
Miami Today News

With the economy in a tailspin, and business slow as a result, local commercial real estate organizations are going “back to basics.” In planning for her 2009 term as president of Commercial Real Estate Women – Miami, Danet Linares had a theme in mind: “Close the Deal,” which she called a “natural” follow to past President Gayle Bainbridge’s “Make the Ask.” But as the economy crashed, financial markets faltered and business ground to a near halt, “I started thinking, really, how do you close the deal?” said Ms. Linares, senior vice president, director of real estate services for Foram Group.

“You have to go back to basics.” She changed the theme and is focused now on promoting a return to fundamental business practices.

Now is the time to cultivate relationships and look to experts for analysis and pointers, Ms. Linares said.

She plans to put together topical programs in varied real estate sectors to educate members and potentially draw in professionals in different fields.

Speakers slated for this year include real estate economist Hugh Kelly, University of Miami President Donna Shalala and Miami-Dade Aviation Director José Abreu, among others, she said.

The goal is to “provide an educational opportunity for our members, where you have a great venue for networking.” Staying plugged in can help position professionals for growth, Ms. Linares said.

“When you become informed, you’re better able to help your client,” she said, and “people hire you because of what you know.” The Miami-Dade/Monroe chapter of commercial real estate professionals holding the Certified Commercial Investment Member (CCIM) designation is also encouraging members to get “back to the basics” – the theme of this year’s outlook conference.

“We have to go back and understand the fundamentals and what the foundation of the business is,” said Chapter President Edward Redlich, vice president of ComReal Miami commercial real estate services.

During recent boom years, many jumped into the real estate game without proper knowledge, experience and credentials, he said.

As the bottom falls out, “everybody, including our customers and lenders, they want to see real deals, real opportunities, they want to deal with real professionals… now people are going to be very careful of who they do business with.” This month’s “Back to the Basics” outlook conference is to cover trends, opportunities and threats and feature experts in retail, office, industrial, capital markets, distressed real estate and other fields and topics.

After “one of the most unpredictable years ever,” Mr. Redlich said, “we’re trying to figure out what’s going to be anticipated for 2009.” From there, it’s about “building relationships, understanding the market, understanding the properties,” he said.

The local CCIM chapter is open to all, even those without the designation, and hosts quar terly luncheons featuring speakers, as well as networking functions.

Alice Lucia, past president of the South Florida Chapter of the National Association of Industrial and Office Properties and senior vice president of Jones Lang LaSalle, said in an e-mail that “networking = deal making.” The organization plans this year to host more member-only networking socials than in the past, she said.

General meetings featuring panel discussions are to be open to non-members, and the organization has upped its non-member fees for the events “in an effort to reestablish how important it is to be a member,” Ms. Lucia said.

For the first time, the association is offering members a payment plan for dues – “a true proactive approach to the current economy for our membership,” she said.

Becoming a member of professional organizations in times like these is critical, said Ms.

Linares of Commercial Real Estate Women – Miami.

“It’s not just going to luncheons,” she said. The groups allow opportunity to become involved in various committees and spearhead programs and initiatives.

When others in the field see you in action, it could spark deals or partnerships – or at least build professional references for the future, she said.

“By people seeing you work in that committee, that translates to how you are in business.”

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