News: Long Island

LICN holds first of its educational workshops - April 24

On April 24, the Long Island Commercial Network (LICN) ran the first of its educational workshops for new commercial realtors who recently joined LICN. The faculty was comprised of Lois Thompson, Gail Gladstone, Alan Hendrickson, Ed Smith - all from Coldwell Banker Commercial NRT; Paul Fetscher of Great American Brokerage; and Eric Brecher of WAMU 1031 Exchange. They presented a two-hour overview of the many aspects of the commercial real estate practice, highlighting those that set it apart from the residential side. This veteran faculty imparted a down-to-earth sharing of the commercial real estate practice including terminology, protocol, listing considerations, marketing techniques, potential pitfalls, etc. A tremendous undertaking, considering the volume of material to be covered! The session was well received from the time it was first announced: in fact it sold out within days and got "rave" reviews. For example, Paul Dougherty of Realty Executives said, "I wanted to send you a quick note to thank you and the LICN for organizing and hosting the seminar. All the presenters were great and I appreciate all those who took the time out of their busy schedule to impart their knowledge. I am glad I attended. I learned a lot and am proud to be a member of the LICN." Based upon the success of this session, and in furtherance of its purpose to foster professionalism and knowledge amongst the members, LICN expects to hold additional sessions. The concept for these workshops started with plans for a Mentoring Program sponsored by LICN for its members. This would give realtors new to commercial real estate an opportunity to work with veterans who can show them "the ropes". Any realtors who are interested in this program are encouraged to contact a member of the board of directors.
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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.