NEW YORK—The New Year is fast approaching filled with numerous resolutions in hopes of a better year in life and in business.
On Dec. 13, at a real estate networking event hosted by Anthony Kazazis, director of the NYC Real Estate Expo, two speakers highlighted next year’s prospects and some basic tips to help make these resolutions become reality.
David J. Lynn, Ph.D., managing director and head of investment strategy and research at ING gave an overview of the current market, saying he doesn’t expect to see a complete uptrend probably until the middle to the end of 2012.
He called 2010 a transition year, and said that in 2011, he expects to see a lot more properties on the market. Though he predicts we’ll see more liquidity, he says it will be rather choppy due to the many distressed properties out there.
Lynn says appraisal values, which previously lagged are gradually turning up during recovery, and he expects them to be in full recovery by 2013.
He also says that conditions are improving dramatically for lending, which is important for commercial real estate.
“We’ve come a long way from that so with each quarter we’re seeing more transaction activity, [and] higher capital values,” said Lynn.
Currently, Lynn emphasized that there are a lot of uncertainties in our economy with many having lingering doubts.
“A lot of the economy is not mechanistic. … A lot of it is perception, but in the past few months investment sentiments have been improving,” says Lynn.
Lynn says he sees a strong demand for “A-quality” or core properties that are income producing, noting that there are not enough of them to go around.
For these income-producing properties, which Lynn defines as better in terms of physical quality and a quality tenant roster, there is a lot of demand. “We have a lot of trouble getting new properties in our portfolio with so much competition because the yield investors can get is very low,” says Lynn.
Lynn completed his overview by saying 2011 should see some positive growth for all sectors, which will continue to increase with each year of recovery.
Jared James, from Jared James Enterprises (JJE) also spoke, giving the audience some important tips to help increase their business and productivity.
James, who was named by Realtor Magazine as the top realtor under 30 in the country, echoed one of Lynn’s points about people’s perception of the economy and of their business.
The successful founder of a coaching company, James started in the realtor business as his mother’s unpaid assistant. Growing up in this environment, he says he learned a lot about the “old school” ways of doing things, which would later help him in creating a synergy between new ways and automation and what has been successful for decades.
His bestselling book, “Enjoy Success Today: How to Start and Build a Thriving Business … and Still Have a Life!” led him to become a sought out public speaker, offering coaching programs to those in the real estate business.
James’s advice for success in the New Year is having a short-term memory. “If you had a terrible year, the New Year starts over, forget exactly what happened, perception is reality,” says James.
James asked how many in the room have successfully closed a transaction by telling the client to throw them a bone, acting depressed that they’ve had a terrible year.
“Is that a closing line for anybody? They want to see success,” says James.
To finish off, James highlighted the importance of productivity. He says the average day of a realtor consists of checking e-mails, answering some phone calls, socializing a little bit and that’s it.
“What did you do that day that had any potential in creating a new business?” asks James.
According a poll conducted by his office, it takes 41 real estate conversations to close a transaction. He advised everyone to get out there and generate new business for themselves, while noting that the National Association of Realtors conducted a study showing that 69 percent nationwide considers themselves unrepresented, demonstrating that there is a world of opportunities out up for grabs.
On Dec. 13, at a real estate networking event hosted by Anthony Kazazis, director of the NYC Real Estate Expo, two speakers highlighted next year’s prospects and some basic tips to help make these resolutions become reality.
David J. Lynn, Ph.D., managing director and head of investment strategy and research at ING gave an overview of the current market, saying he doesn’t expect to see a complete uptrend probably until the middle to the end of 2012.
He called 2010 a transition year, and said that in 2011, he expects to see a lot more properties on the market. Though he predicts we’ll see more liquidity, he says it will be rather choppy due to the many distressed properties out there.
Lynn says appraisal values, which previously lagged are gradually turning up during recovery, and he expects them to be in full recovery by 2013.
He also says that conditions are improving dramatically for lending, which is important for commercial real estate.
“We’ve come a long way from that so with each quarter we’re seeing more transaction activity, [and] higher capital values,” said Lynn.
Currently, Lynn emphasized that there are a lot of uncertainties in our economy with many having lingering doubts.
“A lot of the economy is not mechanistic. … A lot of it is perception, but in the past few months investment sentiments have been improving,” says Lynn.
Lynn says he sees a strong demand for “A-quality” or core properties that are income producing, noting that there are not enough of them to go around.
For these income-producing properties, which Lynn defines as better in terms of physical quality and a quality tenant roster, there is a lot of demand. “We have a lot of trouble getting new properties in our portfolio with so much competition because the yield investors can get is very low,” says Lynn.
Lynn completed his overview by saying 2011 should see some positive growth for all sectors, which will continue to increase with each year of recovery.
Jared James, from Jared James Enterprises (JJE) also spoke, giving the audience some important tips to help increase their business and productivity.
James, who was named by Realtor Magazine as the top realtor under 30 in the country, echoed one of Lynn’s points about people’s perception of the economy and of their business.
The successful founder of a coaching company, James started in the realtor business as his mother’s unpaid assistant. Growing up in this environment, he says he learned a lot about the “old school” ways of doing things, which would later help him in creating a synergy between new ways and automation and what has been successful for decades.
His bestselling book, “Enjoy Success Today: How to Start and Build a Thriving Business … and Still Have a Life!” led him to become a sought out public speaker, offering coaching programs to those in the real estate business.
James’s advice for success in the New Year is having a short-term memory. “If you had a terrible year, the New Year starts over, forget exactly what happened, perception is reality,” says James.
James asked how many in the room have successfully closed a transaction by telling the client to throw them a bone, acting depressed that they’ve had a terrible year.
“Is that a closing line for anybody? They want to see success,” says James.
To finish off, James highlighted the importance of productivity. He says the average day of a realtor consists of checking e-mails, answering some phone calls, socializing a little bit and that’s it.
“What did you do that day that had any potential in creating a new business?” asks James.
According a poll conducted by his office, it takes 41 real estate conversations to close a transaction. He advised everyone to get out there and generate new business for themselves, while noting that the National Association of Realtors conducted a study showing that 69 percent nationwide considers themselves unrepresented, demonstrating that there is a world of opportunities out up for grabs.
