PINK TIE GUYS

NAI Elite’s October/November Charitable Initiative

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In an effort to support breast cancer awareness and finding treatment and cures for the 1 in 8 women affected, and as proud, active supporter of the Susan G. Komen foundation, President of NAI Elite, Carl Berman pledged to be a “Pink Tie Guy”

Susan G. Komen’s PINK TIE GUYS of Greater Hartford 2018

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“PINK TIE GUYS are leaders in their communities who attest to the fact that breast cancer knows no boundaries, who honor those affected, and bring urgency to efforts to find the causes and cures. They demonstrate their commitment by raising money to support the Susan G. Komen® mission to save lives by meeting the most critical needs in our communities and investing in breakthrough research to prevent and cure breast cancer.” -Komen New England

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Carl honored his pledge and with generous contributions from the equally dedicated members of his circle, colleagues, friends, family, and supporters, raised well over the $500 goal to reach $1,135 for Susan G. Komen and Susan G. Komen New England! In total The Pink Tie Guy team raised over $38,000 for breast cancer research, cures, and treatment.

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We cannot thank our supporters enough, an additional thanks to the Susan G. Komen Foundation, The Hartford, and WFSB Channel 3 for a wonderful reception and a successful and meaningful event overall!

Special thanks goes to:

Phil Gagnon

Bob Gaucher

Eric Blumenthal

Cynthia & Steven Miles

Mike & Sheila Reiner

Kevin Podann

Scott Sokolowski

Joan M Berman

Jennifer John

 

 

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6 Best-Practices All Real Estate Investors Should Keep Top-of-Mind

Are you thinking about venturing into the world of real estate investment? There are plenty of things you should know before making the plunge and signing on the dotted line. If you are just starting out you may be wondering where to even begin, but the good news is, every successful real estate investor wondered the same thing. Here are six best-practices all real estate investors should keep top-of-mind.

 

Hire a Bookkeeper

The first thing you should do is hire a bookkeeper because keeping up with documents and paperwork is a lot less stressful if you do it from the start. The documents will come in handy when tax season rolls around and you can write off your bookkeeper as an expense for your business on your taxes.

 

Learn How to Find Deals

One of the hardest parts about investing in real estate is finding the deals. This is a primary function of the business because it’s really what all of real estate investing comes down to. Without a deal, you can’t invest. If you have not, you need to set up your real estate team and systems to be part of finding the deals. An automated lead machine can help you generate leads at all times of the day so you are never losing out on deal opportunities.

 

Be Consistent

Consistency will always beat out talent, resources or experience. Think of real estate investing as a marathon, not a race. You need to accomplish little goals each day to make it to the finish line of this long process. Be sure to track and measure all of your lead-generating efforts. All you need to do to be successful in this is put in the time and effort needed to accomplish these daily goals.

 

Document Everything

You will be swamped if you don’t document and systemize all of the operations of your business and will thus limit your income and growth as well if you are disorganized. As a self-employed individual, the power and control are solely in your hands. First, you need to document and systemize everything, then you need to delegate tasks to others while maintaining clarity and control over the business. Make sure you stay as involved as possible with the business while utilizing documentation and organizing systems.

 

Buy More & Sell Less

Intend to hold every property possible. If you need more cash flow, you may need to flip occasionally, but this is fine because cash pays the bills and keeps the business going. The more properties you hold, the more money you will make in the long run and the quicker you will make the money. Any seasoned real estate investor will tell you to buy more and sell less.

 

Underpromise to Partners

When it comes to investing, people know that there are a lot of variables that are in play and that risk comes with the territory, but when things don’t work out as planned, it’s easy to point the finger. Try to avoid by underpromising to your partners, but overdelivering. Do not borrow more money than you can use.

 

With these six best practices, you will be ready to invest in real estate.

5 Steps to Designing Retail Space with Experiences in Mind

As the retail industry continues to evolve, it’s important for retailers to continue to offer more than just a product. Consumers are looking for true experiences when they go shopping and having this level of engagement can set your retail space apart from competitors.

 

Here are five steps to designing retail space with experiences in mind whether you are a seasoned retailer looking to revamp your space or a new retailer entering the market.

 

Associates Should Transition from Salesperson to Expert

Retailers who want to stay competitive need to ensure that they are training their employees to become more than a salesperson and transition into an expert guide to the service or product. You need to have a retail space that is designed to accommodate your employees and help them relate better to shoppers. They need to relate to consumers in a memorable way and blur the lines between employee and customer.

 

Offer a Hands-On Experience

Make the retail space truly interactive by allowing your consumers and shoppers to use the product in the store. Try to determine how best to showcase your product in unique and different ways that offer a true experience. This goes along with having associates who are true experts on the product and can offer guidance when consumers are testing it out. If a consumer can truly experience the product before buying it, they are less likely to return it, which can help boost sales.

 

Bring Your Website In-Store

Enhance the brick-and-mortar experience by letting shoppers browse your online store while at your physical location. This can be a great value-add experience and can help drive traffic to your physical stores. This can be a great tool if you have multiple store locations or warehouses and don’t carry the same inventory in every store. Allowing customers to browse your e-commerce offerings in-store shows them products that you may not have on site. If they see something they’d like to purchase, one of your associates can place the order for them and ship it right to their doorstep.

 

Change the Checkout Experience

You would be surprised at how many people choose not to purchase an item based on how long the checkout line is. Research from Irisys shows that Americans will abandon a checkout line and leave a store after eight minutes of waiting. This means you need more than just traditional checkout lines. Apple has adopted the option to checkout via a mobile device where associates can go to the consumer when they are ready to check out.

 

Offer Immersive Experiences

If you want to really make a long-lasting impression on your customers, create a retail environment that grabs their full attention. Retailers are beginning to create an experience by using technology like Virtual Reality. IKEA even opened a concept called The Dining Club, which is a temporary pop-up store that allows guests an opportunity to run their own restaurant built with IKEA products. This offers an experience and brings brand and product awareness in a subtle way.

NAI Elite Summer Day Trip 2018: Mystic Whaler Sailboat Luncheon

Team building is an integral part of our our success at NAI Elite. We strive to create a positive and uplifting space for our agents to promote personal growth, celebrate achievements and collaborate ideas… while having a little fun!

This year’s outing was a Sailboat Cruise Luncheon aboard The Mystic Whaler.

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The Mystic Whaler is a reproduction of a late 19th century coastal cargo schooner that was designed for the passenger trade by Chum Crockett of Camden, Maine.  She was built in 1967 in Tarpon Springs, Florida and was rebuilt in 1993 in Providence, Rhode Island.

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We set sail out of New London, Connecticut’s City Pier to enjoy a picturesque afternoon on Long Island Sound.

The team lent a hand to raise sail!

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Captain John, American Schooner Association board member & 2015 Sail Trainer of the Year, manned our tall ship with ease!

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Retail is Still Thriving: These Brands are Opening Stores

Retail isn’t all doom and gloom

There are plenty of retailers that are opening stores instead of closing them. Moreover, many are planning to expand beyond this year. However, there is a fundamental change that is happening causing this weird paradigm where there are brand named box store closings everywhere while simultaneously brand named stores are opening and expanding.

The need for enormous department stores and outlet buildings has passed. These days retail is getting smaller as the industry overall is diversifying. News of thousands of closures has led many to believe that retail is dead, but there are many retail store brands that are thriving.

Online Retail Giants Opening Brick-and-Mortar Stores

A big part of this phenomenon is the emergence of online retailers in the physical retail space. Amazon isn’t the only online retail giant getting into brick-and-mortar. The now famous Warby Parker is on pace to nearly double its total number of stores to 100. Bonobos, Untuck, and Everlane are just a few brands that have built their reputations online and are now looking to expand into the retail space, buying up some of the 3K+ stores going up for sale this year. There are an estimated 1,700 new stores slated to open in 2018 but contrary to popular belief, many of those stores are well known brands like Zales, Best Buy, and Autozone.

Traditional Stores are Buying Up Space and Opening New Stores

Toys R Us closed all of their U.S. stores this year. That is after a long trend of named brand store closures including JCPenney, Sears, and Kohl’s. This year, we’ll see twice as many stores close as open, but there are many traditional retailers that will be in the latter group.

Grocery

Aldi’s has been expanding its presence in the U.S. for the last several years. This year, the German grocer will add approximately 180 new stores. Ultimately Aldi’s plans to operate at least 2,500 stores in the U.S. within the next 5 years.

Perhaps it’s a sign of the times but the biggest expansion happening this year is with discount giant Dollar General. While not necessarily a grocery store, it combines both retail and grocery at discounted rates. They plan to open 900 new stores in 2018.

UCONN Development Opportunity

Windham, Connecticut

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Northridge in Windham, CT offers an outstanding development opportunity for a mixed-use project amongst a partially completed built out power center. The land development opportunity is quite unusual with 35 acres of development land with infrastructure in place surrounding an extremely successful Super Walmart as well as a Home Depot. The remaining land available lends itself to a major mixed-use project, with modern conveniences to fit into established retail mecca in Windham. The area is a vibrant established College community with the Eastern Connecticut State University in town and the main campus of the University of Connecticut at Storrs along with The University Club Golf Course within 15 minutes from the site. The Northridge mixed-use project, could provide a much-needed student housing community with amenities of health clubs, hospitality products, medical outpatient centers, entertainment experiences and new restaurant opportunities. Northridge has the land and opportunity to be a successful mixed-use project. Located along CT Route 6 the area is already a major retail hub for Windham County.

 

For information on this property, contact the listing broker, Hugh Schnip, at Hschnip@naielite.com

Move & Shape Your City with a Career in Commercial Real Estate!

We have heard so many times that investing in Commercial Real Estate can be very fruitful in the long-run.  People who are experienced and skilled in managing Commercial Real Estate properties are capable of earning huge sums of money with comparatively less efforts and in shorter time.

However, like every profession, making a successful career in this particular field also requires special set of skills, talent and specific education. In this article, I have shared what it takes to be a successful Commercial Real Estate Agent and what should you be expecting from the career in this field.

How much will you earn?

In Commercial Real Estate jobs, you generally do not receive fixed salary monthly unlike any other usual jobs. Realtors usually benefit from the commissions that they receive after the successful property dealing.

However, if you are associated with companies which provide the real estate agency services, then you might have a fixed minimum amount of income along with the specific percentage of commission you will receive. In this case, major part of the commission is taken by the company itself. Also, the bigger the deal is, that is, if you are involved in the selling of huge property then you might receive the commission around 6 months later. Although the commission payouts will be huge but there is no fixed time to receive the money. On the other hand, leasing transactions take lesser time but you will be required to wait for the lessee to offer tenancy prior gaining the complete commission.

What you need to study?

Maya Angelou, the famous American poet and civil right activist said that, “When you know better, you do better.” Hence, getting educated is the first step to step into any career. Moreover, to get a license to deal in commercial real estate properties, you are required to complete suggested credit hours and compulsory courses. There are several universities and colleges that offer Bachelor’s degree in real estate which would help you to succeed in the field. Furthermore, besides having formal education or degree, a good realtor must have the sufficient knowledge regarding global economy, marketplace, and all the related domains. First you “Learn” and then you remove the L – Mohit Manke.

What personal qualities and skills you must have?

Initially, experienced individuals used to suggest that to be a successful realtor, one must have the qualities of a good salesmen. This is because they have to negotiate and convince the buyers to purchase what they have to offer.

However, things have changed now and it is said that the realtors must be more of a matchmaker. They must be sincere, have integrity, and must ensure that their customers keep visiting several properties until they fall in love with one. Then, the realtor has to act like a wedding planner by further completing the process.

Moreover, to be a successful Real Estate Agent, one must be confident and should not hesitate to socialize. They must take steps to do networking and introduce themselves in an impressive manner whenever they get the opportunity. Last but not the least, realtors are supposed to be patient and persistent.

Patience, Persistence, Confidence! 

Why Join NAI?

Email your resume to info@naielite.com to schedule an interview!

CRE Summer Survival

10 Best Practices During the Slow Summer Sales Season

1) Keep the Momentum Going! Do more site visits. Make more calls. Send more emails. The time you put in now may not pay off right away but you’ll be heading into football season with a solid pipeline.

2) Database Housekeeping. Go through your contact lists to see where there may be some hidden opportunities to develop new business and Create call lists.

3) Connect with Clients. Reach out to clients to catch up and see how their summer is going (i.e. – are they going anywhere special this summer). Give them a call… send them a handwritten card… Connect on a personal non-business level.

4) Go to Summer School – Improve Yourself. Read, attend classes, learn new subjects, improve skills, refresh topics you already know…. exercise both your body and mind!

5) Update all of Your Social Media. Make sure all of your information is up-to-date, accurate and compelling. Institute a plan to ramp up your social media efforts.

6) Summer Blogging. Think of creative ways to incorporate summer themes into your online marketing content to keep readers engaged… “grilling tips”, “summer salad recipes”, “instructions on fish cleaning”, “explain how to crack a lobster”, “best local boating trips”, “golf course review”, “wine trails”, “craft brewery visits”, “beach fun” etc.

7) Tax Prep. Take this time to get all of your tax information on track for the year.

8) Volunteer. Spend time giving back to those who are less fortunate then yourself, it’s also one of the best opportunities for networking & self branding!

9) Review Your Annual Business Plan. Are you on track to achieve your goals? How will you attack the rest of the year? Do you need to update your goals and your plan to achieve them?

10) Re-Charge and Relax. Take one or more well deserved vacations so you are fresh and ready for Fall Time Action!

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Meet Our Summer 2017 Interns!

As we progress through our work year here at NAI Elite, we are lucky enough to get a new batch of hard-working, incredibly intelligent, and fresh minded new interns each season. This summer should be even better in that one of our interns, Richard Kaelin of Longmeadow, Massachusetts, is a Licensed agent in Connecticut and will be able to work on deals as a Broker in Training, while he completes his degree in Civil Engineering at The University of Connecticut. Not to be out shined, Max Chipouras will be representing Trinity College and the Trinity Bantams; As a star running back for the team, Max helped the team achieve an undefeated record in 2016!

As interns at NAI Elite, Max and Rich will learn the fundamentals of Commercial Real Estate while assisting the team in researching properties, collecting market data, business development, reviewing financial documents, and researching potential investment opportunities during the Summer of 2017.

We are delighted to have them as a part of our team and look forward to a successful and productive season.

Find out more about the NAI Elite team Here.