Nunzio Del Greco of BMAR

What are your resolutions for 2012? Since the economy is still in recession and the residential market predicted to be soft in 2012, BMAR will expand its marketing efforts to inform real estate brokers and agents the value of being a realtor; encourage NYC realtors to utilize the valuable business tool of RPR with its detailed, customizable and company branded reports; and educate real estate brokers and agents the benefit of participating in a Realtor MLS with the explicit offer of cooperation and compensation. BMAR services professionals and companies throughout the NYC area including: licensed real estate brokers and agents; multi-dwelling property owners; building service vendors and suppliers; unlicensed property managers; attorneys; appraisers; banks; mortgage companies; fuel service and energy companies; title and abstract companies; insurance companies and insurance brokers; contractors and other companies servicing the industry and business community. Greatest Accomplishments in 2011 BMAR continues to provide extraordinary programs, services and networking events. In 2011, our events were well attended and provided excellent opportunities for professionals to cultivate long term business relationships. Many companies continue to generate hundreds of thousands of dollars in business from contacts made through membership and by attending BMAR events. To provide NYC Realtors with an additional competitive edge, BMAR recently launched a new database of comprehensive property information developed by the Realtors Property Resource, (RPR). BMAR was one of the first associations in the nation to bring this valuable business tool to our NYC Realtor members at no additional cost. Detailed reports can be easily generated in minutes, emailed and or displayed on their iPad, iPhones or other wireless gadgets. The amount of data and reports on individual properties including multi-dwellings is awesome: aerial views, mapping, property history, comps, nearby distressed properties, zoning, tax information and assessments, neighborhood census data, median estimated value, 12 month change in value, nearby schools, and the ability to customize or brand the reports with your company name and logo on the reports for buyers or sellers. I believe that this branding feature enhances the Realtors' presentation, professionalism and provides real value to buyers and sellers. NAR granted access to our MLS participants at this time. Non-participating MLS Realtors can join BMAR MLS to access RPR. Cost for MLS is probably cheaper than Property Shark or StreetEasy. Predictions for Commercial Real Estate in 2012 New York City is the financial capital of the world. It is a safe haven for global capital and the commercial - investment market will continue to be active in 2012. Manhattan commercial properties attract foreign investors buying buildings all cash. The multi-family market has strong demand with vacancy rates falling and rents increasing. The outer boroughs benefit from the higher property values in Manhattan. Many investors and buyers are taking a closer look at Brooklyn, Queens and the Bronx for investment bargains. BMAR members specialize in commercial and investment properties throughout NYC. Unfortunately the soft residential market is an indirect drag on the commercial sector. The political stagnation on a federal level slows economic recovery, lowers consumer confidence, impacts hiring and business expansion due to future uncertainty with the universal health care bill. The threat to maintaining the Mortgage Interest Deduction (MID) is intensifying due to the huge federal deficit. Lobbying is on-going on this significant issue. Any capping of the MID or eliminating the deduction on second homes would have a devastating impact on the already weak residential market and also adversely impact small business owners in resort communities. With the legislative and regulatory challenges confronting our industry, BMAR membership is more important than ever.