News: Brokerage

Happy New You - by Rod Santomassimo

Rod Santomassimo
Coaching

I have not witnessed a season with as much anticipation for a New Year since December 1999. We couldn’t believe we would live during a time period when the calendar’s odometer was about to turn over to 2000! We were all certain the millennium was the mark of an incredible future. Oh, what wonders we would experience. 

Fast forward to today, and it seems everyone was counting down the end of 2020. We all couldn’t wait until these 365 days had passed. Welcome 2021! No more pandemic, no more market collapse, employment droughts or a never seen before democratic process. Of course, all those challenges still exist, but there has been a sense of light in what most consider a very dark year. 

However, it would be inaccurate to state that 2020 was a horrific year overall. We have seen the best of so many. Healthcare workers, neighbors, and even acquaintances have stepped up. Don’t believe me? Maybe you’re looking in the wrong place. Teachers, retailers and restaurateurs have all made incredible sacrifices to keep their students, customers and communities safe.

Many solopreneurs, especially in the commercial real estate industry, have adapted and excelled. They turned their attention, not to their client’s real estate positions, but to their client’s lives, dreams and nightmares. They stopped focusing on the transaction and more on the relationship. They positioned themselves more as a resource and less as a facilitator. In return, they also had some of the best business results of their lives, and more so, are positioned for a stronger 2021.

Happy New Year and Happy New You.

Rod Santomassimo, CCIM, is the founder and president of the Massimo Group, LLC, New York, N.Y.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking