Solomon Poretsky's CRE Road Trip Halftime Update

Posted on July 22, 2016 by SVN

Catching up with Solomon on his CRE Road Trip

Memphis, TN

In case you missed my blog post last week, I’ll fill you in: Solomon Poretsky, SVNIC’s Executive Vice President of Organizational Development, has been on the road this July touring nine different states, visiting as many SVN offices as he can. Bringing his whole family along for the ride, Solomon has made some progress driving around the middle of the country, from Minneapolis to Memphis to Pittsburgh and more. So far, after visiting four SVN offices, Solomon has been enjoying his #CREroadtrip experience.

One of the interesting aspects of this trip for Solomon has been seeing how each office reflects both the “flavor” of the person who leads it as well as the feel of the region. For example, just the other day Solomon was sitting in an old historic downtown Pittsburgh building, versus a week earlier he was sitting in a suburban office building in Cincinnati. But it hasn’t been all about the differences for Solomon. “What’s equally amazing is the commonalities between the offices,” he says. The SVN work culture itself is pretty much the same across the board: from downtown Pittsburgh to suburban Cincinnati, Solomon has been noticing high levels of collegiality, Advisors who are extremely knowledgeable about the local markets, and a strong dedication to bring the power of our Shared Value Network to local communities.

CRE Coaching for Managing Directors and Advisors

Pittsburgh, PA

During these CRE road trip office visits, Solomon has been making time to meet one-on-one with each Managing Director. Much of these meetings have involved working through strategic deployment planning, helping Managing Directors find ways to touch every part of the market. Through determining how many people to hire and which territories should be covered, Solomon and the Managing Directors are able to devise the best way to grow each brokerage business. Successful office growth calls for building a brand presence in the community, which is another topic Solomon covered on his visits with Managing Directors. In order to have a strong brand, Managing Directors must find ways to recruit new talent to the industry. Solomon emphasizes the importance of creating opportunities for those who would not otherwise have a chance to make it into the CRE industry, without compromising our high standards, of course.

Meeting with Advisors in Cincinnati

Solomon has also been spending time meeting with individual Advisors at the offices he’s been visiting. Advisors are sharing their stories with Solomon, talking about the everyday challenges they face and how they can grow their business by serving clients more effectively. Other topics Solomon covered in these talks with Advisors include prospecting strategies, time management, personal branding, client service, and the vision of a successful business. “The most exciting thing that’s happened has been talking to young people at firms and helping them figure out ways to become full-fledged brokers,” Solomon says.

Solomon even spent some time on his CRE road trip talking to competitors and educating them on the benefits of being here at SVN. Solomon says: “Based on what I’ve heard, at least some of them will be joining us!”

Follow the chronicles of Solomon’s CRE road trip right here on the SVN Blog or on Twitter @SVNIC.

[bctt tweet=”So far, after visiting four SVN offices, Solomon has been enjoying his #CREroadtrip experience.” username=”svnic”]

SVN Annual Conference 2016: Highlights From San Diego

Posted on March 14, 2016 by SVN

My Top 4 Moments from the SVN Annual Conference

The 2016 SVN Annual Conference was easily the best reason to miss class. As a college student and the youngest member of the SVNIC team, I had the incredible opportunity to travel to San Diego, California for a three-day commercial real estate extravaganza: #SVN2016. The SVN Annual Conference, held in the Westin San Diego, proved to be the highlight of my entire year working at Sperry Van Ness International Corporation (so far). As you can probably tell, it was difficult for me to narrow down what I thought were the best parts of the event. While I’m sure everyone had a different set of high points, here are mine:

1. Kevin Maggiacomo’s Opening Address

Kevin Maggiacomo, SVNIC CEO & President.

SVNIC CEO & President Kevin Maggiacomo kicked off the conference talking about transparency, shared values and supporting women. As it always has, the commercial real estate industry currently lacks diversity, particularly in terms of including and promoting the interests of women – SVN aims to change this. As quoted in the Globe St. article about him, Maggiacomo says: “Having more successful women on our teams will make all of us more successful and generate exponential value and more profits.” Personally, as a college student interested in business, I was particularly interested in how hiring gender-inclusive talent as well as transparency across the organization (i.e., openly sharing fees with the entire brokerage community) can result in higher profits. As I better understood from Kevin’s opening speech, implementing a shared value strategy enables Advisors to have even more “meaningful conversations.” Kevin wants Advisors to strive to have five “real” conversations per day… every day. This is something that even us interns can try.

2. Advisor Headshot Session

The background: San Diego buildings and sunshine.

The 400+ SVN Advisors and staff from across the U.S., Canada, and Russia probably didn’t expect to have a professional photographer waiting for them at the hotel poolside – on the first full day of the conference. With the help of two extremely resourceful SVNIC assistants (yes, I was one of them), the photographer shot hundreds of new professional headshots for over 150 SVN Advisors and staff within that one day. Not only did dozens of SVN Advisors receive complimentary up-to-date professional headshots to help market themselves and their businesses – it was also an unexpected networking event. I met so many members of the SVN organization while helping them get ready for their photoshoots, and I’m happy to say I have 150 new friends.

3. Diane Danielson’s Business Trends Talk

Diane updates the full house of SVN Advisors.

Yes, Diane Danielson is my boss, so at the risk of sounding biased, I’ll say it anyway: she nailed it. Her talk, which focused largely on Millennials (me!) was spot-on. We want flexibility in work hours and location, a clear path for advancement, a conscious capitalist mission, but we still want to work hard. It seems like Millennials are often accused of being lazy, self-absorbed, and all around not the sort of people cut out for the corporate environment that their Silent Generation, Baby Boomer, and older Generation X parents worked hard to cultivate. In her talk, Diane shattered this stereotype about my generation by emphasizing our desire for efficiency. While the business trends discussed spanned more than just Millennial issues, this part of Diane’s speech resonated most with me because as a Millennial, I couldn’t have said it better myself. Click here to see a video of the full talk.

4. Specialty Awards

Everyone likes winning awards. If you don’t, I kind of think you’re lying. What makes the SVN Specialty Awards so wonderful is that they recognize more than just good Commercial Real Estate Advisors – they recognize good people. The awards – which included Team Player of the Year, Ambassador of the Year, Collaborator of the Year, Trainer of the Year, Humanitarian of the Year, Prospector of the Year, Innovator of the Year, and Firm of the Year – looked beyond production results and instead focused on culture. The winners of this year’s SVN Specialty Awards each embody traits that the SVN culture values immensely: practicing collaboration, cooperation and conscious capitalism while excelling in commercial real estate. Yes, numbers don’t lie. But neither do the people – all members of the SVN organization were invited to nominate individuals for the SVN Specialty Awards. This year’s winners are a group of SVN Advisors and Managing Directors who motivate and inspire me and countless others to strive for excellence in every sense of the word. In case you were curious, here are the winners:

Team Player of the Year – Steve Kawulok
Ambassador of the Year – Alex Ruggieri
Collaborator of the Year – Tony Yousif
Trainer of the Year – Tomi Jo Lynch
Humanitarian of the Year – Brent & Amy Miller
Prospector of the Year – Jamie Renzenbrink
Innovator of the Year – Al Stepan
Firm of the Year – SVN | Northco

There you have it – my top highlights from the 2016 SVN Annual Conference. I’m sorry, professors – the experience I gained from my three days outside of class was worth its weight in California gold.

For other SVN Annual Conference news, check out the SVN Blog for additional content.

[bctt tweet=”I’m sorry, professors – the experience I gained from my three days outside of class was worth it. #SVN2016 #CRE”]

CRE Brokerage Firms: Should You Stay Independent?

Posted on January 26, 2016 by SVN

Independent vs. National Commercial Real Estate Firms

“To be, or not to be, that is the question…” goes the famous opening line of an act from the Shakespeare play, Hamlet.

That very same question is what a lot of CRE Principals ask themselves every day. “To Be Independent or not to Be Independent… and Be with a National Firm.”

The decision is not an easy one, especially for an Independent who may feel as though his/her niche in the marketplace would be disruptive to current business if they were to align themselves with a national platform.

If you’re someone who wants to buy and sell for their own gain and possible syndication, well, a national platform may not be the choice for you. However, if you are an independent CRE brokerage or property management firm that wants to step up their game and compete with the national players, then looking at a national platform definitely behooves you to take a little time to gather information so you can make a knowledgeable decision.

5 Factors to Consider When It Comes to Independent vs. National Firms

Let’s first consider the information that would allow you and your firm to make that informed decision:

Technology: I know, I know. It’s always changing and it’s one of the biggest expenses an independent firm incurs. If not in hardware and software, in people or outside services. A few questions to ask are: “Does this national platform have the technology I will need today and position me for future growth without a seismic shift in how I do business or in training? Is it cloud-based or on premise technology? Will the firm help train, accelerate my transition to its platform? Is what I currently have working?”
Financial: As Bill Clinton once said, “It’s about the economy, stupid.” Well, in our business some would argue it’s “Show me the money!” A few things to consider: “Do I see how this move to a national firm would enhance my bottom line? Will it allow me to reduce marketing expenses or greatly enhance my marketing efforts? Is my market demanding or is it asking for more of a national presence to be competitive? How can it help me with existing and new relationships? Can it help me do more deals? Can it help me recruit and retain top talent? And last but not least, what are the commission splits and what are the fees?”
Personal: What will ultimately suit my business, my people, my family and my clients? What do the next 3-5 years look like in my business?
Intangibles: What are the Unknown Unknowns? I like to call them the “unk unks.” To get this perspective, it is very important to talk to the current principals of the national platform you are considering and get a mix of their experience. Do your due diligence and spend a little time with principals who have been affiliated from 1 year to 5 years with the national platform you are considering. This is imperative before making your final decision. This will allow you to see what the “real deal’ is without all the marketing hype. “Looking under the hood to make sure there is an engine there” is necessary before your final decision.
Why not you, why not now? – Only you have that answer…

Brand Identity and SVN® Commercial Real Estate Advisors

Last week I was asked by a prospective SVN principal: “I am concerned my brand identity will be compromised and I will lose the local flair with a national platform. What should I do about my brand?” My response: “I don’t know about that, we can talk about it; however what I do know is what I hear from owners of independent firms who were asking the same questions before they joined forces with SVN…”

Here’s how SVN can address the Independent vs. National Firm concern, from the words of various members of the SVN community:

“With a national platform, we now harness the power of one of the industry’s 6th most-recognized names with the expanded reach of an international network of over 1,300 Advisors in over 500 markets. The brand has definitely given my firm the opportunity to grow my business and client base. I now sit at the table to compete with the other nationals in my market.”

“We now have unlimited access to industry leading-edge commercial real estate tools and technology that helps maximize our clients’ returns and saves us time and money.”

“We now have expanded visibility and marketing to reach the widest possible investor audience and access to a broader array of asset classes and so much more as part of a global network. It is the SVN Advisors that make up the difference…this is a global network where each person is committed to putting their clients’ interests first.”

If you are looking to “step up your game” – now is the time to gain information to help you make a knowledgeable decision so you are ready for growth in 2016. The best of luck to you with your “to be or not to be” decision!

Read more about Karen Hurd here.

[bctt tweet=”If you’re looking to step up your game – now is the time to gain information to help you make a knowledgeable decision so you are ready for growth in 2016! #CRE”]

How to Dress for Success in 2016 with Solomon Poretsky

Posted on January 19, 2016 by SVN

The Unspoken Dress Code in Commercial Real Estate

There’s something I need to get out of the way up front. This article was not sponsored by the Dry Cleaners Association of America. But they’re going to love it.

As I’ve toured offices, here are some of the things I’ve seen:

Athletic shoes
Men without socks
Wrinkled polo shirts
Ripped denims

I haven’t seen these things in smaller markets where standards of dress might be relaxed. I saw them in markets where people dress for business.

And every time I’ve seen it, I’ve asked myself a silent question: How would that Advisor do if a conservative 60-year old client wanted him or her to come over right now? And I know the answer… Most of the time, they wouldn’t get the business.

Clothes Make the Advisor

Not all Millennials shun traditional business attire. Pictured: Julia Taibl and Michael Malinconico of SVNIC.

You might say that Generation Y is changing the rules and making informality the norm. I’ll see you, and I’ll raise you Frank and Oak’s banner ads with a fully-bearded – and fully suited – Gen Y model. Add in all of the new Internet custom clothiers – who are clearly targeting Millennial customers – and you can see that business wear is ageless.

With perfectly adequate business wear available at Target and Costco and multiple discounts available at Macy’s and other retailers, it’s hard to argue that dressing for success isn’t affordable, either.

While this might all still seem a bit stodgy and old-fashioned, let’s think about what dressing for business every day means. It means that you are always ready for whatever comes. If a jacket is too much, you can take it off before a meeting. Same with a tie, scarf or other accessory. Long sleeves can even be rolled up on a hot day. It’s always easy to dress down. But it’s a lot harder to dress up on the fly.

It’s Smart to Dress for Success

And, here’s the really interesting thing…. Dressing smartly makes you smarter. Research now shows that formal business attire improves critical thinking skills (as does wearing a “doctor’s” coat).

Personally, I know that I feel crisper and sharper when I have a tie on. I’m able to work longer days. And focus harder.

To that end, if you’ve embraced a week-long “casual Friday,” I encourage you to think about starting off 2016 with a new, more professional look. You’ll look better, feel better and, most importantly, broker better. And your clients will thank you for it.

Happy new year, and I can’t wait to see you in San Diego for the SVN Annual Conference! Be sure to register now if you haven’t already. You know what I’ll be wearing…