Cool retail leasing APP / 22-22-22 / A dog's tail

Cool retail leasing APP

I met Dan Levy in 1997 at the very first commercial real estate technology conference.  This NYC event was organized by Peter Pike, an early commercial real estate blogger.  Since then Dan has experienced success in both residential and commercial real estate technology.  He founded CityRealty.com and REOL (Real Estate On-Line). 

City Realty is the closest thing New York City has to a residential multiple listing service. Their database contains thousands of apartments for sale or rent, and will match buyers and renters with brokers that best align with the needs of apartment hunters. 

On the commercial real estate side, REOL.com has developed a number of technology solutions for commercial real estate owners including corporate websites and content management systems.  I visited Dan this week and was excited to be given a demo of his iPad app for multiple property types. As a former shopping center leasing person, sampling the retail portfolio app was most engaging.   

I immediately saw the advantage of having a shopping center portfolio fully loaded on an iPad and ready to show - to anyone, anywhere, at any time.  The dynamic mapping and site-plan functionality leverage what technology is all about:  making things simpler and more mobile. 

A number of Dan’s clients will be using the iPad app at the annual International Council of Shopping Centers (ICSC) convention in Las Vegas in May.  If you are an owner of retail properties, you may want to check this out - before you go to Vegas with your printed presentation books and rolled-up leasing plans.  With retail leasing so competitive, a tool like this might just differentiate you from your competition and show retailers that you are a forward-thinking landlord.  You never know what could swing a decision in your favor.  Here’s the link (http://reol.com/#).

22-22-22

When I began my working career, the normal workday was considered 9:00am to 5:00pm.  But those days are long gone.  One culprit is that there’s so much cross time-zone business being done.  Another reason is the amazing advancements in technology.  Then there is a third reason.

I was introduced to a new phrase this week: ‘22-22-22’ - a 22-year old who will work 22 hours a day for $22K.  While this expression is new to me, the theme isn’t a shock – the job market is tough!  Hopefully it won’t always be this way. But for now, employers have their pick of numerous applicants because there are so many people applying for every job. 

I found an on-line New York Times article called ‘The No-limits Job’ (March 2, 2013 by Teddy Wayne) that offers some real-life color on this subject. Following are excerpts quoted directly from the article:

“If I’m not at the office, I’m always on my BlackBerry,” said Casey McIntyre, 28, a book publicist in New York. “I never feel like I’m totally checked out of work.”

Ms. McIntyre is just one 20-something — a population historically exploitable as cheap labor — learning that long hours and low pay go hand in hand in the creative class. The recession has been no friend to entry-level positions, where hundreds of applicants vie for unpaid internships at which they are expected to be on call with iPhone in hand, tweeting for and representing their company at all hours.

“We need to hire a 22-22-22,” one new-media manager was overheard saying recently, meaning a 22-year-old willing to work 22-hour days for $22,000 a year. Perhaps the middle figure is an exaggeration, but its bookends certainly aren’t.

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Lots of very bright, hard-working students graduating each year seem willing to accept ‘opportunities’ to work in the field of their choice (hopefully) and be that 22-22-22 person.  But I wonder: do the employers ever think about the reputation their company is developing? 

Some of us have accepted a lower salary just to get the job - we had mortgages to pay and mouths to feed. But it never feels good.  Those employers who feel they are getting a ‘bargain’ may tend to outsmart themselves when a really talented person leaves because they don’t feel appreciated where they are - and a better paying position comes along.

While the 22-22-22 concept is an exaggeration, the mere fact that the phrase exists says something about our society and the values being instilled in this generation.  I don’t feel it’s a healthy direction at all.

A dog’s tail

What does a dog have to do with deciding which apartment to buy? 

Debra Weiner is a successful residential real estate salesperson in Manhattan and the devoted owner of Daisy, a mixed-breed rescue dog.  

She recently met a couple that was looking for their new home when they visited one of her apartment listings.  The couple said they were interested in this building because of the close proximity to the dog run in a nearby park.  Deb told them about another available apartment – on the first floor - in the same building they wanted.  They almost didn’t come to see the second apartment because they thought it wouldn’t have enough sunlight for their dog.  They did, however, come to see the listing – and they actually brought the dog to check out the place!  When the dog’s tail did not wag upon entry, the clients knew it was not the right home.

Debra shared with me that this type of thing happens all the time.  “Dogs are part of the family!”

Stay tuned for more human-interest (and canine-interest!!) stories about New Yorkers and their search for the apartment that will wag their dog’s tail!  To learn more about dog-friendly apartment buildings in NYC, reach out to Deb Weiner directly (http://www.halstead.com/real-estate-agent/debra-weiner).

On The Road...

Mar. 19 - 20:  PREA Spring Conference, Boston, MA

Apr. 29 - 30:  PERE Global Investor, Los Angeles, CA

May 16:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 

Do you manage or lead?

Do you manage or lead?

Last week, while standing on the checkout line at Whole Foods, I heard an announcement over the P.A. system that made me pause: “Would someone in leadership please come to the customer service desk.”  This statement got me thinking about the difference between leadership and management.

While researching this subject, I discovered a Harvard Business Review blog (published August 2, 2013) by Vineet Nayar.  As vice chairman of HCL Technologies, an India-based global IT services company, Nayar suggests there are three differences between managers and leaders.  How he describes these differences resonated with me.  The following is quoted directly from his post:

“Counting value vs. creating value. You’re probably counting value, not adding it, if you’re managing people. Only managers count value; some even reduce value by disabling those who add value. If a diamond cutter is asked to report every 15 minutes how many stones he has cut, by distracting him, his boss is subtracting value.

By contrast, leaders focus on creating value, saying: “I’d like you to handle A while I deal with B.” He or she generates value over and above that which the team creates, and is as much a value-creator as his or her followers are. Leading by example and leading by enabling people are the hallmarks of action-based leadership.

Circles of influence vs. Circles of power. Just as managers have subordinates and leaders have followers, managers create circles of power while leaders create circles of influence.

The quickest way to figure out which of the two you’re doing is to count the number of people outside your reporting hierarchy who come to you for advice. The more that do, the more likely it is that you are perceived to be a leader.

Leading people vs. Managing work. Management consists of controlling a group or a set of entities to accomplish a goal. Leadership refers to an individual’s ability to influence, motivate, and enable others to contribute toward organizational success. Influence and inspiration separate leaders from managers, not power and control.

I encouraged my colleague to put this theory to the test by inviting his teammates for chats. When they stop discussing the tasks at hand — and talk about vision, purpose, and aspirations instead, that’s when you will know you have become a leader.”

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Clearly, leadership is much more than a simple management style.  Great leaders nourish their successors. And, as firms develop their succession plans, it is increasingly more important to attract, develop and retain high-potential leaders in the organization.  The next generation of leadership becomes the focus of all stakeholders in the firm.  

How would your career or mine have evolved differently if we had been exposed to extraordinary leadership skills vs. basic management techniques? 

Here are some leadership perspectives from a blog by Marie Peeler of Peeler Associates, which are poignant to this discussion:

• “Managers develop policies and procedures.  Leaders develop vision and strategy.

• Managers direct and control.  Leaders motivate and inspire.  Stated another way, managers get people to do what needs to be done. Leaders get people to want to do what needs to be done (read that again if you need to; the distinction is subtle.)

• Managers explain, “What we have to do.”  Leaders explain, “Where we are going.”

• Managers give directions.  Leaders ask questions.

• Managers are concerned with the here and now.  Leaders are concerned with the long-view.

• Managers are bottom-line oriented.  Leaders are big-picture oriented.

• Managers are concerned with projects.  Leaders are concerned with people.”

After absorbing the writing of both Nayar and Peeler, I thought more about my own career; were the people I reported to managers or leaders??  I also reflected on my own style and wondered how I was seen by those I supervised.

What about you?  When you look in the mirror do you see a manager or a leader?  And would you like to make any adjustments to your own style?  No time like the present

Congratulations...

Evelyn Dube has joined Forum Partners as Managing Director, Capital Markets, Global Business Development

James O'Neill now Head of International Distribution, Legal and  General Property 

Neil Golub joined BCGI Real Estate Executive Search and is opening an office in New York City.


On The Road...

Mar. 19 - 20:  PREA Spring Conference, Boston, MA

Apr. 29 - 30:  PERE Global Investor, Los Angeles, CA

May 16:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 

People make plans and god laughs

People make plans and god laughs

For the first time in more than 30 years, Mother Nature prevented me from attending an industry event.  Due to the snow and cancelled flights, I missed the IMN conference in Laguna Beach this week as well as an excellent opportunity to moderate an emerging manager panel. I would enjoy hearing conference highlights from those who attended.

Generally I try to go with the flow, although in this case I was really disappointed when plans had to change. But then I started thinking, maybe there’s a bigger reason that I was not supposed to attend the event, even though it’s not exactly clear yet what that reason is...  My partner and I did get to work with an existing client face-to-face in NYC instead of via conference call and we also picked up a new client. Might these have happened anyway? Maybe. Maybe not!

This experience got me thinking about a saying used by the late-grandmother of a friend, ‘People make plans and god laughs’ (and perhaps Mother Nature chuckles as well)!  Could their laughter relate to knowing something good is about to come out of the unexpected change in plans??

This all reminds me of something I have shared with you before – a passage I regularly read from the book, 'The Tao of Pooh"-

'Things just happen in the right way, at the right time. At least they do when you let them, when you work with circumstances instead of saying, "This isn't supposed to be happening this way," and trying to make it happen some other way. If you're in tune with The Way Things Work, then they work the way they need to, no matter what you may think about it at the time. Later on, you can look back and say, "Oh, now I understand. That had to happen so that those could happen and those had to happen for this to happen...Then you realize that even if you'd tried to make it all turn out perfectly, you couldn't have done better, and if you really tried, you would have made a mess of the whole thing.'  

I continuously refer back to this passage – it helps to put things in perspective for me.  Perhaps you’ll find it helpful as well.  

Congratulations…

Scott Arden joined Hodes Weill & Associates

John Rivard joined Rockefeller Group Investment Management

On The Road...

Mar. 11 - 14: MIPIM, Cannes, France

Mar. 19 - 20:  PREA Spring Conference, Boston, MA

Apr. 29 - 30:  PERE Global Investor, Los Angeles, CA

May 16:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

Happy Birthday to my brother Jay!!

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 

In Memoriam: Anne Pfeiffer / Sam Grad

This week I'm sharing sad news.  The real estate industry lost one seasoned veteran and one aspiring leader.  My heart goes out to the family and friends of both Anne Pfeiffer and Sam Grad.

Anne Pfeiffer

Anne Pfeiffer died this week.

Until her retirement in 2013 Anne was a managing director at JPMorgan Chase.

I got to know Anne from attending many JPMorgan Real Assets annual investor conferences.  She was a consummate professional with a wonderful smile and enthusiastic energy about her.

Excerpts from a published obituary:

“A member of JPMorgan’s real-estate financing unit for almost 35 years, Pfeiffer managed a seven-person portfolio-management team as head of the New York-based bank’s commingled property funds, which are pension trusts catering to retirement and governmental plans.

“Anne was a friend and mentor to so many people she worked with at the firm,” her husband Paul said, summarizing the e-mails he had received since her death. “She was dearly loved and revered among her co-workers.”

My condolences go out to her family, friends and colleagues.  Our industry has lost another role model.  Through her work in mentoring young professionals, Anne’s legacy will continue.

Anne was 61.

Anne Pfeiffer

Sam Grad

Sam Grad passed away this week.

Sam was the son of Debra and Bryan Grad.  Bryan is Senior Vice President of Sales for Real Capital Analytics (RCA). 

From a published obituary:  “Sam was a 2009 graduate of Westford Academy and a 2013 graduate of the University of Connecticut where he earned a Bachelor of Science in Real Estate and Urban Economic Studies. Sam was a gifted athlete who enjoyed playing sports and loved competition of all kinds. He holds the record for the fastest time in the 100-meter sprint at Westford Academy. He loved Cape Cod, and especially Nauset Beach. Sam was both a camper and a camp counselor. He was respected and loved as a leader and a role model. Sam was widely known for his overwhelmingly positive outlook, constant smile, and living every day to the fullest.”

I had the privilege of knowing Sam personally and witnessed his smile and energy.   He was a fine young man.   Sam was passionate about the commercial real estate industry and was pursing job opportunities just before he got sick. He fought the battle but lost to Lymphoma.

Being the father of two sons, it is unfathomable for me to imagine this happening – I’m sure it’s the same for all parents.

My deepest condolences go out to Sam’s family and friends.

Sam was 23.

Sam Grad

On The Road...

Jan. 22 - 24, 2014:  IMN (Information Management Network) Winter Forum on Opportunity and Private Fund Investing, Laguna Beach, CA

Mar. 11 - 14: MIPIM, Cannes, France

May 16:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation.