Smith of Coldwell Banker NRT addresses LICN members; Discusses buying vs. leasing at February meeting

In keeping with LICN's mantra of being a source of professional support and a think tank for commercial real estate brokers, a session was provided by Ed Smith of Coldwell Banker NRT on February 25 comparing leasing vs. buying for your customer. After networking and a breakfast, they had the opportunity to have Smith start his presentation where he pointed out the most significant points to be considered in making the decision to lease or buy a property. These include: the stability of the tenant's space requirements, future value meaning whether the market is in an up or down phase, considerations about the money required for a down payment - does the buyer have it and if so, what return could the buyer achieve outside of this real estate deal with that down payment, and finally considering the tax consequences both positive and negative. He then offered several ways to compare the two scenarios and provided detailed examples given of each scenario. The comparisons made the discussion points more tangible and easier to grasp. Of course there was a question and period to make the segment complete. They then spent the balance of our meeting with introductions and our "Haves and Wants" which is time set aside to speak about properties the Realtor has to offer and those required to meet the needs of customers. With a packed room, it took some time but they learned a lot about each other and how they may be able to work together. LICN also participated in the LI Commercial Real Estate Expo at the Hilton which was a successful event for the group.