New York Real Estate Journal

The biggest challenge facing the industry is...

November 20, 2009 - Spotlight Content
Adelaide Polsinelli is an associate vice president investments at Marcus & Millichap Real Estate Investment Services. Her responsibilities include investment sales and advisory services. What makes you an innovator? Today's investment climate calls for a multi-talented broker who can adapt to the changing environment with skill and ease. I have successfully navigated my clients through past cycles and am well equipped to get them through this one. As an innovator, I have developed strategic plans for my clients which are tailored to their specific needs. Today's solution to their problems is not always to sell, it may be to take in a partner, do a net lease or work out a financing dilemma. What obstacles have you overcome to get where you are today? I tell all of my junior agents not to be afraid to take chances. I made every mistake in the book but learned some very valuable lessons along the way. I did not have any mentors or friends in the business when I started out. I started without any allies and learned the ropes through trial and error. I had to overcome the challenges that went along with being successful in very competitive arenas. Not everyone is rooting for you when they are not doing as well. What motivates you to succeed? Success is the best revenge to offer anyone who does not wish you well. Playing an integral role in creating value for owners and investors is very motivating. How do you stay ahead of the curve? It is important to stay on top of new developments not just by reading all the publications, but also by listening and speaking to owners, bankers, developers, attorneys and anyone else who makes real estate their full time ambition. Who/what has been the strongest influence on your career and why? My husband and children have always accepted and supported me which makes it easy for me to do what I need to do to be successful. What impact has social networking had on your success? Zero. Nothing trumps the verbal and physical interactions necessary to connect with investors and colleagues. How has the need to create a more sustainable environment influenced the way you do business? I use both sides of paper and email more than printing and mailing hard copies. What excites you most about this industry? I love the fact that there are always new financial challenges which require a smart and knowledgeable broker. Gone are the days of celebrity brokers. Not only do you have to know what you are talking about to close a deal today, you must be able to connect all the moving parts with precision and expertise. It takes an extensive sphere of influence to source and manage all the players in a transaction and successfully close it. My goals for the future are.... To continue to be the best at what I do and deliver tangible value to each transaction so that there are only satisfied customers leaving the table. The biggest challenge facing the real estate industry in 2010 is.... The ability to overcome the challenges of the financial crisis. We will be left with a new set of rules as the playing field has changed. The "silver lining" in the cloud of the current economy is.... We are an industry of entrepreneurs who will create opportunities where none currently exist. We are at the low end of valuations; however, this is when fortunes are built. This is a cycle and we will come out of it stronger than ever. Adelaide Polsinelli is an associate vice president investments at Marcus & Millichap R.E. Investment Services New York, N.Y.