News: Long Island

LICN board of directors makes educational head start

In keeping with the mission statement of the Long Island Commercial Network: To unite those in real estate with an emphasis in the branches of the Commercial real estate profession for the purpose of exerting a beneficial influence upon the profession. To provide meetings in which members will have the opportunity to exchange views, information and general knowledge regarding commercial real estate. To encourage and facilitate cooperation among brokers engaged in marketing commercial and investment real estate as a service to the public. To foster sound, prudent and ethical practices as they relate to brokerage of commercial and investment real estate. To foster and develop a knowledgeable membership through continuing education. At their March 18 meeting, the board of directors recommitted to an education segment of each monthly meeting. It is the goal of this group to be a resource for practical education to commercial realtors and to help raise the level of professionalism. Another means toward this goal explored was that of developing a mentoring program. These ideas will continue to be investigated until a satisfactory plan for implementation is announced. As part of the move forward, plans were discussed for making the needed changes to the LICN website into the dynamic, user friendly site that will insure utilization and benefit to both members and the public. The new release of the LICN guidelines and procedures is now ready for distribution to all new members as an exciting part of the orientation package for new members. As the commercial arm of LIBOR, a meeting is being planned to fulfill some of the needs LICN has outlined in using the MLS system for commercial listings. Plans are already in action for our next annual event to be held on August 22 at the Glen Cove Golf Club. LICN is pleased with their growing numbers and invites anyone involved in commercial real estate to check out their group by attending one of their breakfasts the fourth Tuesday of every month at the On Parade diner in Woodbury at 8 a.m. They look forward to seeing you there.
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Columns and Thought Leadership
The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.