Executive of the Month: Racanelli, president of Racanelli Realty Services; Leading with integrity, trust and experience

The New York Real Estate Journal recently sat down with Anthony Racanelli, president of Racanelli Realty Services, Inc., for a question and answer session. Q: What is the most rewarding aspect of your role as president of Racanelli Realty Services, Inc.? A: What I enjoy most is interacting with many different businesses and, learning enough about them to properly fulfill their brokerage and property management needs. Q: How has property management changed over the decades? A: Certainly the advancements in Internet and email communications, as well as the increased use of smart phones have allowed all aspects of property management to be more efficient. My clients can reach me with emergencies on a 24/7 basis. In return, I can reach my subcontractors quickly and respond promptly to prevent catastrophic events and mitigate risks. Further, today's web-based property management software facilitates better reporting and documentation. Q: Long Island, where Racanelli Realty is based, is a very competitive marketplace and the real estate industry is especially competitive. What do you believe are some of your attributes that help give Racanelli Realty the competitive edge in both the property management side of your business, as well as the brokerage side? A: Customers want what they want, and when they want it. Whether it's on the property management or brokerage side of the business, I respect the customers' needs and do my best to address their needs; present new ideas and solutions whether that means recommending new, energy-efficient building systems or presenting a range of properties that best accommodates their operations. We are always very responsive to our customers' needs. Q. You and your brothers worked together in the flagship Racanelli organization founded by your father. As the youngest brother, what did you learn from working with your brothers that has enabled you to succeed as the head of Racanelli Realty? A. The information I've learned from my family over the years could fill volumes. Respecting the customer ranks high. My brother Marty taught me that once you make a deal, put away the numbers and put the customer first. My brother John taught me to listen; the less you say the better, and the more you'll understand the customer's needs. My brother Nick taught me to get it done! He also taught me that at the end of the day, the guy with the most smiles wins! Joe and Gene were also very influential in other areas of my life which contributed to my professional awareness. Q: Who's been the greatest influence on you? A: On the advice of counsel, I take the Fifth! Are you kidding? I'll never make it through the next holiday. Q: Are there any challenges you face having come from a larger organization where you and your brothers were partners to one where you are basically calling all the shots? A: Although I call the shots when it comes to decisions within Racanelli Realty, I never act alone. This is true whether it's the properties I own with my brothers or third-party properties I manage. I have tremendous resources upon which I constantly rely - from my brothers to other real estate professionals that I grew up with in the business and who I trust like brothers (you know who you are.) I will say that I am not afraid to make mistakes. When I do, however, I'll never hurt a customer and I learn from my mistakes. I am always learning something new in this business and I love it. Q: Were you always interested in the real estate industry or at any time did you consider pursuing a career in a different field? If so, what field and what about it was intriguing to you? A: Actually, as the youngest brother and by a decade, I was more interested in being with my family - my brothers. They were all out of the house by the time I was old enough to have some fun with them. I was very fortunate that the timing was perfect and they had developed a thriving business. I was able to develop my career and spend time with the guys I wanted to hang with. Q: What would you like your legacy to be in business? What about on a personal level? A: I'm not a legacy guy and I'm not the type to take myself seriously. I would like to be recognized as the youngest second generation Racanelli family member, committed to keeping the Racanelli trust, still making significant deals, while managing some of the best industrial properties ever developed on Long Island. On a personal level, I just want my children to remember that I was there for them whenever they needed me. Q: As the father of six children, would you like to see any of your children enter the real estate field? If one of your sons or daughters was interested, how would you advise them to prepare to succeed in today's real estate industry? A: My wife Laura and I are blessed with six amazing children - three daughters and three sons. Coincidentally, Laura's maiden name is "Brady" which we've had a few chuckles over. I don't support my children coming into the business right away. I believe they should have the experience of working for someone else. They've all had and will continue to receive the best education and each has worked hard enough to put themselves in that position. Now, I want to see them put their education to use, put their best foot forward working for others. That experience is priceless. Q: What's ahead for Racanelli Realty? A: The future never looked so good. We've survived one of the worst real estate markets in decades and we are no longer just associated with the construction company or as a firm just managing its own properties. Our brokerage business is up. Our client base is expanding. The management division is not only serving our old customer base, but is growing and serving lending institutions as well. Anthony Racanelli is the president of Racanelli Realty Services, Inc., Commack, N.Y.