Real Data Management

RDM On The Move

noreply@blogger.com (John D.) — Tue, 20 Oct 2009 19:08:00 +0000

RDM calls the city of New York its home but supporting over 1,500 buildings for some of the biggest names in real estate means we go where they need us.

In the last few months, our team have provided real estate services and software solutions to clients in:

Dallas (TX)
Little Rock (AR)
Washington (DC)
Las Vegas (NV)
Manchester (NH)
Livonia (MI)

Get More Site Traffic by Increasing Your Site Speed

noreply@blogger.com (John D.) — Fri, 16 Oct 2009 18:31:00 +0000

Your website speed can be a key indicator of how many visitors go to your website and spend time learning about your organization. In addition, potential and current clients who wait too long for web pages to load may be reluctant to return to your site.

It has been proven that as little as a five percent increase in your website speed can increase page views by as much as twenty-five percent. Below are some tips to increase the speed of your website:

When it comes to your homepage, use facts and keep the page clean and simple. Avoid using Flash videos or animations/graphics that take too much time and bandwidth to load. In the amount of time it takes one of these large files to load, you may have already lost a potential client.
Don’t place video links on your homepage. Links from video sites such as YouTube not only take time to load, but often make a web page look cluttered and distracts from the information you want visitors to see.
If you need to place video on your site, make certain that the host of the video is within a close proximity. The longer distance the information has to travel, the longer it will take for the page to load.
Measure the speed of your site to identify the areas which need improvement. There are various websites, both free and paid, that can check your site for browser compatibility, optimizes images and JavaScript and more.

Some useful sites are:

In today’s market, having an informative and well-performing website is key for your business to succeed. Don’t lose opportunities and new customers because your website is too slow.

New Service from RDM: Market Your Medical Spaces

noreply@blogger.com (Ryan Green) — Thu, 01 Oct 2009 17:01:00 +0000

by Ryan Green

RDM Advertising is now offering a specialized email campaign service to landlords with medical office spaces.

Med Space Locate is a direct email campaign which sends out your available medical office space to our exclusive network of 2,000 medical professional contacts within the five boroughs of New York City as well as Nassau, Suffolk, Westchester and Rockland counties.

A custom-tailored email blast will be designed and sent to our email recipient network consisting of professionals within every major medical specialty.

List your medical office space with a complimentary campaign – learn more by calling 212-213-8190 and ask to speak to Ryan Green.

Equity REITs vs. Mortgage REITs: Not a level playing field when it comes to raising capital

noreply@blogger.com (Casey Crow) — Fri, 25 Sep 2009 15:48:00 +0000

by Casey Crow

As the Equity REITs raise big money the mortgage REITs are experiencing some hesitation among investors.

Over the past six months equity REITs have been on a tear raising money to poach distressed assets. With commercial lenders still on the sidelines, cash is the only way to get deals done. This year alone over $14 Billion has been raised by REITs, with most of that coming from the big players like Boston Properties, Simon Property Trust and Vornado.

This has been the glimmer of hope for the equity REITs in these dismal times. REIT risk managers and CFOs are likely thinking, “Well, if deals cannot get done now, we can at least raise some cash to scoop up some quality assets on the cheap”. Mortgage REITS on the other hand haven’t been so lucky.

As recent as this past week, we have seen a flood of mortgage REIT IPOs hit the market. These smaller, less capitalized, mortgage REITs have also been attempting to raise cash in an effort to capitalize on distressed assets, in their case, loans. Only a small proportion of all REITs are classified as mortgage REITS. Technically, these are finance companies that lend on real estate assets and use creative hedging activities to manage their risk exposure. They are more complicated and more risky than their equity brethren, and hence, are smaller and don’t carry the house hold name like some equity REITs do. These mortgage REITs are going after the now defunct CMBS market. With mortgage backed securities being the cause for this once-in-a-generation economic meltdown, no one wants to touch new CMBS offerings. This has led to low values placed on new CMBS deals, and a lot of mortgage REITs see an opportunity, sensing the CMBS packages may be under valued.

What we are seeing is the perceived value of “street cred” among investors. As far as raising capital goes, the bigger equity REITs didn’t have a problem. Despite the lack of funding, rising cap rates, and ramping vacancies the Vornados and Simon Properties of the world have always been well capitalized. They splurged like everyone else during the boom times and made some bad decisions, but they avoided getting over leveraged and were never in danger of default. Another advantage the equity REITs have going for them is dividends. Despite the recent cut-back by many REITs, the majority of them have been paying out steady dividends for years with above average yields.

The mortgage REITs have a few things going against them when it comes to raising capital: 1) They are purchasing risky mortgage backed securities, 2) They are highly leveraged entities, 3) All the recent chatter about commercial real estate being the next “shoe to drop” has soured many investors on the idea of investing in the commercial real estate market, and 4) Many are smaller organizations, and to generate capital quickly for opportunistic situations it helps to have a track record, it helps to have “street cred”. This is why many of the recent funds created by these mortgage REITs have seen dramatic cuts in value.

Announcement: Casey Crow Joins RDM

noreply@blogger.com (RDM Team) — Fri, 18 Sep 2009 13:18:00 +0000

by Ryan Green

Real Data Management is pleased to announce the addition of Casey Crow as a new Sales Associate to our Business Development team. Before joining RDM, Casey worked for 9 years in the field of valuation of real estate.

As a consultant with American Appraisal Associates he managed the valuation of the Los Angeles Unified School District, the second largest in the country, and also headed the appraisal of many municipalities and other government properties.

In 2004, Casey started his own real estate appraisal company in Los Angeles, CA in which he was the chosen appraiser for many banks, mortgage lenders, and law firms. As a Sales Associate with RDM Casey applies his real estate “know how” to satisfy his client’s space planning/space management needs through the application of RDM’s unique portfolio solutions.

Casey Crow graduated from Colorado State University in 2000 with a B.S. in Economics and received his Masters Degree in Real Estate Development from New York University’s Schack Institute of Real Estate in 2009.

Advertising Online - faster, cheaper, broader

noreply@blogger.com (RDM Team) — Wed, 15 Jul 2009 14:29:00 +0000

by Jay Machain

Cost effectiveness, range and tracking– three reasons why online advertising is giving traditional advertising a run for its money.

The internet has quickly become an all-in-one resource for entertainment, news, socializing, and research. This has created a rapidly growing market for online advertising and businesses big and small are getting involved. In the real estate industry change happens fast – by the time you wait for a traditional piece to be printed and distributed someone else could have a similar piece out to the public via the web days earlier and beat you to the punch.

Another benefit is that internet is a world-wide net. Parts of the market you had to ignore in the past can now be reached instantly with the same advertisement. Pockets of your target audience can all be targeted at once, rather than trying to find different publications, radio and television outlets in those regions.

In addition, think of the overhead costs in paper, printing, production, shipping, etc. The real message is in the design and knowing how to design for the right media. Part of this process is tracking: getting an idea of how many people see the advertising. While it’s very hard to get hard numbers tracking traditional advertising, digital monitoring and databases on the internet it’s possible to see how many people see the ad and how many visits their web site gets from it. Spending time and money to have a great web site is great, but if no one is seeing it, what’s the point?

By no means am I suggesting you turn a blind eye to traditional venues, rather that you rethink your strategy to get the best ROI.

Existing Conditions: It’s All about Marketing

noreply@blogger.com (RDM Team) — Wed, 20 May 2009 13:48:00 +0000

by Ahmad Oloumi

With tightening budgets, vacancies on the rise, and more sublease space hitting the market each day, real estate professionals today are faced with many challenges when marketing space.

What do you do with the existing construction - also called "as-builts" or "existing conditions"- once a space is vacated? Traditionally, a landlord may have opted to demo the existing layout and offer pre-builts or to pay for a new design to entice a prospective tenant. However, with tighter budgets these extras are not always possible, so it's all about working with your existing conditions.

It is clear that cost-cutting is part of everyone’s strategy at the moment, and tenants want to take advantage of better deals in the market. As-builts create a new market for these deal-grabbing, potential tenants and also provide more opportunities for the landlords. Given the competitive market we face, it is crucial to ensure that the prospective tenants are aware of this product in the most effective way possible .

It is vital to include as much specific information as possible when marketing a space. Given the growing market for existing conditions spaces, the importance of having as-builts included in your digital floor plan library cannot be unstated. Working with companies that specialize in marketing existing conditions, such as Real Data Management, will guarantee proper exposure of the space. Not only does having up to date and detailed drawings assist in the marketing of a space, but also can be beneficial for Local Law 26 and Local Law 5 EAP/Fire Safety Plans purposes. Investing in as-built floor plans will go a long way.

In unfavorable times, we have to remain optimistic and, more importantly, clever about marketing the products we already have. The potential clients are out there and all they need is appropriate information about the existing conditions spaces available to them.

RDM Demystifies National Building Measurement Methods

noreply@blogger.com (RDM Team) — Thu, 07 May 2009 21:58:00 +0000

by Peter Boritz

In Real Estate no square foot is the same. When it comes to commercial property, everyone measures space differently, and depending on the measurement method used the same property will have different square footage calculations. RDM, the leading provider of building measurement solutions for over 25 years, recently has written a white paper demystifying the national building measurement methods.

It is vital for the commercial real estate industry to have accurate property measurements in order to ensure maximization of revenues, especially in the current uncertain market. RDM’s White Paper aims to provide the reader with valuable information on building measurement methods, such as BOMA, Modified BOMA, and REBNY, and where each is to be used and why. It discusses trends in distinct markets in the United States and the importance of having the appropriate property measurements portfolio-wide.

The more informed you are about the methods of building measurement the more aware you are of how to maximize your gains.

Let's Speculate

noreply@blogger.com (RDM Team) — Fri, 01 May 2009 17:15:00 +0000

by Kasia Janczura

Given historical trends, the housing most likely has not hit bottom. As stated in the latest issue of the Economist, “the housing market started the crisis so it is natural to think that house prices must recover before it ends.” Given that the current recession is expected to be the worst since the Second World War, the odds favor the fact that the bottom has not yet been reached. That means we should be examining the market with caution and speculating the right time to jump back into the game.

So while the drastic decrease in prices looks attractive, it is time to wait for some of the sellers to adjust to buyers’ expectations. It might take a while for Bobby Abreu or Flavio Briatore to lower their stupendous penthouse price tags and the more uncertainty we have in the market, the more risk-averse we become, and less willing to start buying. Seeing that some sellers have yet to acknowledge the grim consequences of the house bubble bursting, buyers won’t leap in until prices reflect the true value of the assets.

New York City’s eye-catching real estate playground is yielding to current times by slashing the prices of once fervently sought-after real estate. The assets that are selling are those which successfully manage buyer’s expectations, such as Williamsburg’s recent development Mason Fisk. Green developments are following the trend, with Sterling Green Condo in Prospect Park presenting affordable prices to prospective buyers. Manhattan’s real estate has welcomed back $200,000 studios in certain areas of the island. Further, Julian Schnable’s Palazzo Chupi’s price fell down 7% since January, William Ackman lists his sweet place for $10 million instead of $12 million, and the 11 E. 74th Street Mansion falls from $35 million in 2007 to the current mere $15 million. Better yet, some sellers are resorting to auctions to spur interest amongst the buyers. The cards are in the hands of the buyers, and sellers are accepting this.

While the inflated market prices adjust, let’s speculate when the actual bottom will hit. The uncertainty in the market, which has an impact on the guarantee of a steady income, will keep many buyers out. But those who do reenter at the right time will have a surplus of supply of which to take advantage. Let us wait.

Twitter + Real Estate

noreply@blogger.com (RDM Team) — Fri, 01 May 2009 16:44:00 +0000

by Peter Boritz

It is vital for the Real Estate industry to take advantage of all the tools available in the market. Especially those free of charge.

All the rage today is this program Twitter. Twitter is a social networking site that allows you to communicate to large groups of people instantly using your PC or text messaging. The website’s original purpose is to provide “a service for friends, family, and co–workers to communicate and stay connected through the exchange of quick, frequent answers to one simple question: What are you doing?”

With Twitter’s exponential growth reaching 131% in March, no wonder nearly every industry is on Twitter, from governmental agencies such as the SEC keeping people informed about its actions, to entertainment industry with celebrities including Oprah and Ashton using it as a platform for brand exposure and keeping in touch with their fans. Seeing the revolutionary approach to real-time news and the benefits that come with it, businesses, small or large, have picked up on this great tool.

But is it good for the Real Estate Industry? The answer is YES. Imagine if you can broadcast your information quickly, about a vacancy, a listing, or some special intel that you just received and want to get out quickly to your entire team. You don’t have to go to voicemail or separate emails in order to access your network. With Twitter all you need is one short message that you can distribute to everyone at once. You can use Twitter for your colleagues, business associates, and prospective tenants that you are approaching. The extensiveness of the network, and the ability to reach out to it instantly is a great way to stay connected. People want news immediately, and what better way to supply it to them than with Twitter.

Some Real Estate businesses have picked up on this. Coldwell Bankers, Colliers International, and CBRE to name a few have created accounts to stay on top of the changing trends in society. The exposure theses businesses get on Twitter is unmatchable as every person following their account is updated with posts in real-time. Given that Twitter works with Blackberries and iPhones adds onto to the marketing revolution.

Twitter is a free and easy to use solution to stay connected to your network at all times. It may be the future of marketing and networking, and given real estate industry’s commitment to both, it is important to take advantage of the opportunity.

Visibly Greener

noreply@blogger.com (RDM Team) — Thu, 16 Apr 2009 14:57:00 +0000

by Kasia Janczura

Just recently the Center for Architecture hosted Work in Progress: Green Walls exhibit, supporting the successful implementation of green rooftops in urban areas. The trend is growing from plant-covered rooftops to fully planted walls, making landscape architecture take on a different approach to ensure plenty of greenery. Green buildings are a great way to promote energy efficiency while keeping the aesthetics fresh and green: it’s a two-in-one deal.

According to the United States Environmental Protection Agency (EPA), urban areas with more than 1 million inhabitants are often referred to as “heat islands,” where the mean day air temperature is 1.8-5.4˚F warmer than that of surrounding areas. In the evening, the temperature difference can reach over 20˚F. The higher temperature has negative externalities, such as increased energy consumption, increased greenhouse gas (GHG) emissions, additional health problems, and lower water quality. Planting building rooftops and walls helps decrease this temperature jump, as described in Reducing Urban Heat Islands: Compendium of Strategies.

Studies have shown that temperatures of planted rooftops can be up to 75˚F cooler than those of dark, conventional roofs, helping to save thousands of dollars on energy expenditure. As with many novice infrastructural improvements, the initial construction costs of green rooftops slightly outweigh those of conventional rooftops. With increased interest in making cities visibly greener, however, the average cost of construction will lower, making eco-roofs a better option for investors. Likewise, studies indicate that benefits surpass the costs, making green rooftops the right long-term investment option. Many of New York City’s buildings are taking up this solution, including Bank of America Tower at One Bryant Park, the Rockefeller Center’s roof gardens, the Helena residential building, and the new Silhouette residential project in Brooklyn. Portland, Oregon, for example, wants to expand its rooftop coverage to 40 acres by 2012, from today’s 6 acres of green rooftops.

With the popularity of green rooftops growing, green walls might be the next revolutionary approach to sustainable building development. The trend is popular in Asia and Europe, and can contribute to LEED points, as indicated in an article in Building Design and Construction. The American Society of Landscape Architects (ASLA)'s role in providing for a sustainable environement is vital in our transition to greener options, giving landscape architects a greater part in designing buildings.

Once again, green initiatives reenter construction agenda, ensuring that ecologically aware investments translate to an ongoing triumph. Not only can buildings save on long-term energy investments, but can successfully market their socially responsible business choices and promote a healthier living situation to their residents.

A Positive Spin on the Demise of Newspapers

noreply@blogger.com (RDM Team) — Tue, 14 Apr 2009 21:04:00 +0000

by Peter Boritz

It is vital to acknowledge the need to restructure in order to cope with a changing environment. The newspaper industry won’t survive on the old business model of relying on advertising and readership to cover print costs. The digital world is a promising reality and you just can’t fight it. It's not all bad - Mother Nature is probably bumping chests with Woodsy Owl right now at the thought of all those natural resources being left alone.

Last year was the worst ever for the US newspaper industry, with both print and online advertising revenue posting declines, as indicated by Newspaper Association of America (NAA) figures. Total newspaper advertising revenue fell 16.6% in 2008 to $37.8 billion, according to NAA. This comprised of a 17.7% decrease in print advertising revenue and 1.8% decrease in online advertising revenue, the latter being on a double-digit growth over the previous four years. When it comes to classified advertising revenue, it plummeted to $9.97 billion, falling 29.7% from previous year.

The US newspaper industry experienced many bankruptcies, job cuts, and closures. A 146 year old Seattle Post-Intelligencer in downtown Seattle has folded. The New York Times was forced to sell its Manhattan headquarters for $225 million to pay off debt as print advertising revenue declined. The newspaper publisher will lease the building for 15 years from the new owner. The Tribune Company, which owns many of the nation's leading papers, including the Los Angeles Times and Chicago Tribune, filed for bankruptcy protection in December of 2008. Many more newspapers have closed their doors or ended print editions, including the Rocky Mountain News.

But who relies on hard copies nowadays? The future is invested in digital infrastructure allowing for everyone to easily access various news portals. Physical editions are no longer the primary way of communication. But is this something we should worry about? Should we feel bad for the newspaper industry that chose to remain inflexible? Are propositions, such as that of Maryland’s Ben Cardin’s to enforce a bill allowing newspapers to operate as tax-exempt nonprofit organizations, economically viable?

Rarely do people search for apartments via newspaper listings, but rather rely on internet searches. People shop online, buy their food online, read news online. With the spread of mobile internet access people more often than not prefer to rely on a single information portal: the internet. But such efficiency should not go unnoticed. Not only is this adaptation a tool for time management, but an eco-friendly solution.

Digital advertising will take over hard-copy advertising, if it hasn’t done so already. But one industry’s demise is a gateway to new opportunities, and a redefinition of advantages and disadvantage of the given situation. In the case of the hard-copy newspaper industry’s downfall, it is a victory in disguise.

RealTech with Peter Boritz: The Future of Real Estate & Technology

noreply@blogger.com (RDM Team) — Wed, 11 Feb 2009 14:44:00 +0000

CNNMoney.com: When "free" doesn't pay off

noreply@blogger.com (RDM Team) — Tue, 10 Feb 2009 14:16:00 +0000

Peter Boritz of RDM was interviewed by CNNMoney.com contributing writer, Kathleen Ryan O’Connor, about whether or not offering a product too cheaply can devalue it for customers.

Question:
Emil G., Santa Monica

Is making a service free more counterproductive then selling the same service at a low cost? We recently put together a highly defined service in which we analyze the conversion rates of Web sites and make strategic suggestions - which we were already doing, it just wasn’t separated out into its own service like it is now. Our plan was to begin offering it for free initially while we worked out the kinks, but since dropping the price to zero, it seems we’ve stripped the value in our clients’ eyes. I expected the opposite. Any suggestions?

Answer:
By Kathleen Ryan O’Connor, CNNMoney.com contributing writer

The concept of “no free lunch” is so ingrained in the business culture, you can’t really blame customers for looking askance at a free service. After all, if it’s so great, why aren’t you charging for it?

“Pricing is a part art and part science, and how you price a service will have a massive influence over what people perceive the value of your service to be,” says Mike McDerment, CEO and founder of FreshBooks, an online invoicing service that uses a “freemium” business model. FreshBooks’ basic products are offered for free, but customers are charged for advanced or premium features.

“From the start, you need to set your clients’ expectations that the service is in fact worth paying for,” McDerment says. “If they have used it for free or with limited capabilities, then they should understand the value of the service and therefore be willing to pay. If they are not willing to pay after trying the service, then they never would have paid.”

He suggests that your first step going forward should be to tell your clients that you will soon start charging for the service. You can set expectations: Tell them the new rates will take effect in 30 or 60 days, or will kick in after they cross a designated usage threshold. “Step two, start charging them,” McDerment says.

The pricing issue isn’t unique to the Web, says Mary Wolfinbarger, a professor of marketing at California State University Long Beach.

“When consumers don’t know how to value a product, price becomes a signal for the value of the product,” she says. “Digital products are in a class of products that consumers may find difficult to determine the value for.”

Haroon Mokhtarzada, CEO of the social media and Web hosting company Webs.com, has firsthand experience with the value of perceived premiums. Like FreshBooks, Webs.com uses a “freemium” model, but it recently changed its name from Freewebs.

For your service, conversion-rate analysis could be part of what you offer for free, but given its importance these days, you should make the service’s value clear by holding back some of your insights. For instance, you could offer just one or two suggestions from a battery of 10, and let customers try out your tips to see the results, Mokhtarzada suggests.
“The whole game on the Internet is to improve those flows and that’s what every company is looking to do,” he says.

So is any damage permanent?

Nope, our experts say. Peter Boritz, president of Real Data Management, a New York City technology and consulting firm, recommends recasting your free offering as a limited beta test, open to clients you trust to help you incubate your ideas.

“Consider them to be part of a pilot,” he says. “Get feedback and testimonials.”

“Most of their potential clients haven’t heard of them yet,” Mokhtarzada says. “That’s the great advantage of the Internet. You have a new release, a new push. With the Internet, you just change it the next day and it’s different.”

Click here to read the full article on CNNMoney.com.

Obama Won't Give Up His BlackBerry

noreply@blogger.com (RDM Team) — Tue, 20 Jan 2009 22:22:00 +0000

by Peter Boritz

I listened to the CNN interview with Obama yesterday and was happy to hear he is as addicted to his Berry as the rest of us. Unlike our soon to be former President - who probably cant even type an email no less operate a BlackBerry- Obama is a gadget head and understands the power of tech and how it relates to business and leadership.

This is a huge PR boost for RIM the manufacturer of BlackBerry. In the real estate industry the BB has also been a powerful communication tool for brokers. We joke about the Crack Berry issues. Sure some go over the top. But the fact is it has enabled brokers and related RE execs the flexiblity to be able to do business without being tied to a desk. At my firm RDM servicing Landlords and brokers is our main focus. The Blackberry allows me to be more dialed in while being able to spend more time with my family. Below are some excerpts from the Obama interview.

US President-elect Barack Obama says he's keeping his BlackBerry when he takes office, media reports say.

Obama told CNN that the BlackBerry was one way to stay in touch with real Americans outside of the White House "bubble", AFP said.

"My working assumption…is that anything I write on an email could end up being onCNN," he said.

"It's just one tool among a number of tools that I'm trying to use, to break out of the bubble, to make sure that people can still reach me," he told CNN.

"If I'm doing something stupid, somebody in Chicago can send me an email and say, 'What are you doing?

Obama's BlackBerry was always at his side on the campaign trail, but legal and security obstacles make it difficult for him to bring it with him to the White House. The US President is required by law to keep a record of every communication, and the Secret Service was worried his Blackberry could be a security risk.

Profit and Survival - article in Crain's New York

noreply@blogger.com (RDM Team) — Sun, 18 Jan 2009 14:28:00 +0000

Elaine Pofeldt interviewed RDM's Peter Boritz for an article on Crains New York Business.com. In her article, Pricing for short-term profits, long-term survival,

When commercial landlords started complaining about a year ago that they were having trouble collecting rents, Peter Boritz got worried.

He is president of Real Data Management, a midtown software firm that can help building owners manage their portfolios. The company’s health depends on customers who pay project-implementation fees of $25,000 to $50,000, plus $150 a month or more for maintenance contracts.

“You have to be flexible as they are going through tough times,” Mr. Boritz points out. “It’s part of the relationship.”

But he also had to keep the 40-employee firm profitable.

“We wanted to think long-term,” says Mr. Boritz. “The market goes up and down. Once you slash prices, how do you raise them later?”

RDM opted for a two-pronged approach. For a few loyal customers who mentioned that they were facing hard times, RDM temporarily lowered its fees by between 5% and 10%, making decisions on a case-by-case basis. To provide extra value to the other clients, the company began listing property owners’ vacancies in its newspaper and e-mail advertising, which saved the real estate firms money on marketing.

RDM, which remains “very profitable,” plans to open branches in six cities in 2009.

The changed economic climate and the sharp decline in fuel costs may warrant a new look at pricing strategies, say experts, but businesspeople should be cautious about lowering prices. "If you don’t charge prices now that allow you to bring in a fair profit, you will be in bad shape later," says Frank Luby, a partner in marketing consulting firm Simon-Kucher & Partners, which has an office in Manhattan.

Here is some advice on setting prices that allow you to turn a profit—and to communicate with customers about what you’re charging in ways that keep them coming back.

TIP 1
Know the going rate.

A surprising number of business owners come up with their prices without doing adequate research, says Nancy Spruiell, founder of Rego Park, Queens-based WholesaleProductRep.com, a marketing consulting firm. Survey current and potential clients on what they are willing to pay, she says. Also take note of your rivals’ price structures, to make sure your margins are competitive.

“Wholesalers’ markups vary anywhere from 35% to 60%,” she says, adding that this figure can vary considerably by industry.

TIP 2
Pay close attention to early sales.

“I start worrying if my clients are not hitting sales goals in two to three months,” Ms. Spruiell says.

If you’ve ruled out problems such as inadequate marketing or poor placement in stores, you may need to adjust your prices downward.

TIP 3
Develop a profit range you can live with.

Not sure how to factor in fluctuating costs for fuel or other supplies? Go with prices that will make sense and give you an acceptable profit range even if your expenses zigzag, says Mitch Tobol, president of The Tobol Group, an Amityville, L.I., marketing firm.

“Your costs may change from day to day, but you can’t raise your prices from day to day," he says.

TIP 4
Promote your company’s strong suits.

Communicate clearly with clients about how you set your prices. If you charge a bit more because you contribute a percentage of profits to charity or use unusually high-quality ingredients, explain that in your marketing. “Right now, people want to spend their money on things that have a good reputation and that aren’t a gamble with their money,” Ms. Spruiell says.

Small businesses can build customer loyalty by offering free educational resources, says Alan Siege, president of Small Business Management Consulting in Brooklyn.

When one client of Mr. Siege’s, Tarzian Hardware in Park Slope, tried to compete with the local Lowe's on prices for batteries and other basics, the move didn’t increase sales. After repricing the items at their usual levels, President John Ciferni began offering free in-store classes, including a course on weather-stripping. All six attendees returned to make purchases, which totaled about $250.

“The loyalty I got from those customers is the most important thing,” Mr. Ciferni says.

TIP 5
Be direct about price increases.

If you must raise prices significantly on a popular offering or a product line, send customers an e-mail explaining the reason at least two weeks ahead of time. Some clients may want to make large purchases before the increases.

TIP 6
Opt for small packages.

If customers seem leery of signing long-term contracts or buying products in large quantities, sell your offerings in smaller increments at the same unit prices, advises Mr. Siege. “That way it doesn’t cost as much to try something,” he points out.

RLP Capital Inc., a 13-employee wealth management firm in midtown, didn't want to lower its standard fees to stay ahead of an industry slump.

Instead, four months ago, it started offering new clients a one-time portfolio analysis for a flat fee of $500 to $1,000 says President Jeremy Paul. The firm makes this offer through lawyers and other professionals, to ensure that the deal attracts people who fit the firm’s customer profile.

“We are very selective,” he says.

Click here to access this article and more at Crains New York Business.com.

Cut Waste, Save Money.

noreply@blogger.com (RDM Team) — Thu, 08 Jan 2009 21:49:00 +0000

by Ryan Green

Think of that the next time you print out a chain of emails.

There are millions of things you can do to protect the environment: stop polluting, cut back on waste, etc... But there's only so much one can enforce when you're running an office of 40+ people.

Well, thankfully, there are some smart people out there developing tools to help reduce waste office-wide.

Save Paper and Ink

GreenPrint offers software that analyzes what a computer sends to a printer. It looks for pages that have no type or just a few lines of type (users can set the parameters). Then, the software automatically eliminates these pages from the print job. Users can also choose not to print images - such as maps on a print-out of driving directions.

GreenPrint is offering a free version of the software for non-business use, supported by advertising. Business licenses start at $70 per user with volume discounts. Considering how quickly paper, ink, overage charges can add up the $70 fee will quickly pay for itself in most offices - plus it's just good for the environment. Available for both PC & Mac.

Ecofont is the brainchild of Colin Willems, a font with tiny circles placed within the characters to reduce the total ink/toner laid upon the paper. Much like you can purchase pocket knives with skeletonized handles to reduce weight, Ecofont reduces the volume of printing supplies consumed.

"Appealing ideas are often simple: how much of a letter can be removed while maintaining readability? After extensive testing with all kinds of shapes, the best results were achieved using small circles. After lots of late hours (and coffee) this resulted in a font that uses up to 20% less ink. Free to download, free to use."

LCG3 Smart Strip Power Strip not only offers surge protection and line noise filtering, but is actually able to 'sense' the flow of electrical current through the strip's control outlet. Because of this unique ability, the Smart Strip can turn off selected equipment when its not in use.

Attach one of these to each of your employees' work stations and you will not longer have to worry about individuals shutting down their computers, monitors, task lamps, phone chargers, speakers, etc... if they are plugged into the strip. With a price tag of $39.95, the LCG3 will pay for itself in saved electricity. SCG3, a smaller version, is available for $30.95.

And remember, it's not always about saving money and time. It is our responsibility to put in the extra effort to do the right thing.

Tools to Help Your Gain More Clients

noreply@blogger.com (RDM Team) — Thu, 08 Jan 2009 15:17:00 +0000

By: Peter Boritz

Getting new customers is tough enough. To better survive this global economic recession you need to use all the tech tools you can. There’s a new generation of web site tools that can help you convert web site visitors into new clients.

Websites often encourage visitors to leave contact information so that a leasing broker can get in touch, but this often never happens. Leverage up anonymous web site traffic with help from Demandbase, located in San Francisco. They have a tool called Demandbase Stream, that uncovers information on your website visitors, helping salespeople follow up with a cold call, information, or sales pitch. The Demandbase Stream ticker tape runs along the top of a user's screen shows the last 25 visitors to a website. If the user clicks on a visitor, the software shows her the name and location of the company that the visitor comes from, details about the company, and information about the visitor.

Applications such as Salesforce.com and Act already help staff track of existing customers and potential customers, but Demandbase Stream helps find new customers

Another company doing this is called web trends with an on-demand hosted format, Web Trends Analytics allows you to measure all aspects of your organization's online presence, from what pages and content they look at and the duration of the visit.

Knowing someone visited your website might validate the money you spent on that graphic designer, but won't win you a new client. Gathering data about the visitors is essential for spotting potential customers. These basic services are free with options for enhanced premium versions - well worth the additional fee.

To use the service, a company just has to embed a clip of code into pages on its site. The code can be pasted into every page or only at specific pages. This can be done either by your web or IT consultant.

Analysts at Forrester Research predict that services like these will be expanding providing powerful intelligence tools on web site visitors, and could reduce the cost of acquiring clients. They can also be effective in targeting a specific customer category such as retail, residential or office tenant.

By integrating these tools into your company web site you will add new dimension to your sales strategies.

Green: Here to Stay (2)

noreply@blogger.com (RDM Team) — Thu, 04 Dec 2008 22:13:00 +0000

by Krystal Goff and Kasia Janczura

Most of the Real Estate Industry has realized that green is here to stay, and it seems our politicians and leaders have recognized this as well. Our 44th president elect, Barack Obama, has made environmental issues a top priority in his campaign. But what can we expect from our country's new leadership team in green building initiatives? What changes will Obama's new energy and environmental cabinet positions implement that affect the Real Estate Industry?

Barack Obama has laid out several clear goals he has set for his time in office. He has sited that we should be open to learning and taking strides from other countries - such as Germany - who has produced over 250,000 new jobs with their renewable energy campaigns. His goals have stated that 10 percent of America's electricity will come from renewable resources by 2012, and he hopes for 25 percent by 2025. Part of this plan includes weatherizing 1 million homes annually.

Obama's answer to our oil crisis includes investing $150 billion in renewable resources over 10 years (15 billion/year), including solar, wind, and advanced biodiesel. Investing in green technologies, hopes Obama, will also create millions of new jobs that cannot be outsourced.

A great book by Richard A. Muller, “Physics for Future Presidents”, talks about the implications of our growing energy need and a feasible solution to the problem: conservation. What better way to conserve than to engage in Green initiatives? First, such action could help slowdown the growing carbon dioxide emissions. The housing sector accounts for a major portion of the total 5,893 million metric tons of CO2 emission in the USA, residential being 1,247million metric tons of CO2 equivalent and commercial being 1,078 million metric tons of CO2 equivalent (and just to compare, the transportation sector emits 1,970 million metric tons of CO2 equivalent). With the implementation of the cap-and-trade carbon dioxide system, which is an emission trading concept to help decrease CO2 emissions, ignoring the need to reduce energy consumption in this sector could result in unanticipated costs. This brings up another advantage of following green trends: the potential to decrease operational costs. On average, there are substantial energy savings (translating to lower bills); bettering the environment and the society while saving money is a decent deal.

The New Energy Plan policies that will structure our everyday practices, in addition to the benefits that come with energy conservation, it is easy to grasp where this leads to: an opportunity to invest in green systems. There is no need to go big right away, starting from simple implementations, such as paperless filing with (ex) RDM's RealAccess can save you money, time and make your workday much more efficient. Implementing other efficient and resource-conscious systems within your existing infrastructure could be a successful way to face an uncomplicated transition into the green future.

Campaign: REthink. REposition. REnew

noreply@blogger.com (RDM Team) — Fri, 14 Nov 2008 18:09:00 +0000

By Kasia Janczura and Krystal Goff

Our REthink. REposition. REnew campaign focuses on the need for the Real Estate Industry to embrace change and implement innovative strategies in their business structure. With our new approach, we’d like to convey that RDM is dedicated to utilizing technological advances to better serve the industry in all aspects of promoting and managing portfolios.

We believe it is necessary for Real Estate professionals to REthink the way they manage their portfolios and increase the intensity and understanding of real estate marketing strategies. It is important to REposition branding and portfolios with more simplistic, modern methods. The industry needs to REnew their approach to doing business and structuring strong identity in this icon-dominated market.

With the proper resources accessible to everyone in the continuously advancing technological industry, every business can easily embrace change. Accepting the need for REadjustment is the first step.

Green: Here to Stay

noreply@blogger.com (RDM Team) — Fri, 07 Nov 2008 22:11:00 +0000

by Krystal Goff and Kasia Janczura

Green and Real Estate

While few may still believe "green" practices are merely a trend, that attitude is becoming fewer and farther between. As the need for environmentally sustainable practices grows, more of them become law. It is clear that being green is no longer a trend, but a reality.

As this happens, real estate professionals are seeing their businesses affected as well. Introduced in 2000, the Leadership in Energy and Environmental Design or “LEED®” green building rating system has been getting a lot of attention lately. Developed by the United States Green Building Council, the LEED® rating system establishes standards for environmentally sustainable building development, rating the construction either Certified, Silver, Gold, or Platinum. In addition, professionals in the real estate industry now have the option of becoming "LEED® Certified".

Geraldine Walsh of Grubb & Ellis has just recently received her LEED® Certification, bearing the new title "LEED® AP" (Accredited Professional). What does this mean? For Grubb & Ellis, it now has an in-house LEED® Professional with the authority to oversee and approve aspects of renovating or constructing a building to be up to LEED® standards. Prior to her certification, the firm would have had to hire an outside professional at an extra cost. In addition to the convenience, Grubb & Ellis gets an extra "point" in the LEED® rating system simply for having a LEED® professional overseeing all aspects of construction or renovation. Recognizing how profitable this is, Grubb & Ellis currently has 30 certified employees and 15 in the process of getting certified.

Is it worth it?

"Everything in a building can be green, from the lighting to the furniture to the percentage of recycled materials used in structural building, to the paint on the walls," Walsh explains. The myth that green spells out ‘more expensive’ tends to still circulate, as Walsh points out. Before anyone reaches conclusions, let’s present a few facts:

- Average LEED® energy use is 20-25% better than the national average, and the savings increase with higher LEED® certification
- As LEED® levels improve from certified to silver to gold/platinum, the Energy Use Intensity increases from 26% to 32% and 44%, respectively, as compared to regular national average
- LEED® Energy Star Rating median was 68, compared to national building stock median of 50, meaning that 68% of similar buildings are less energy efficient.
- LEED® building enhances the asset value and profits
- Employee productivity and satisfaction increase

As with every new investment, there are a few things that cost more simply due to initial lumpy expenditures, thus not showing an obvious payback. Environmentally friendly furniture made from sustainable materials is one example. This may change as time goes on and the demand for products like these increases.

A green building implies immediate and long term economic and social benefits. Better insulation and structural development, trailing resource conservation, allow for lower utility bills and, thus, lower operational costs and a better environment. You can invest in something knowing that you are making a difference for society as a whole.

With more and more people yielding towards this so called ‘trend’, one should not hesitate to wonder if a green investment is profitable. Simply looking at the demand side, as Walsh points out, customers take note of ‘green’ affiliation and LEED® certification, thus an increase in supply is needed.

Next Steps

Before her work at Grubb & Ellis, Geraldine Walsh helped the well-known Hearst Tower located at 57th Street and 8th Avenue in Manhattan reach Gold LEED® certification. Seeing the obvious benefits for both owners and renters alike, Grubb & Ellis is now working on a sustainability educational piece to inform readers about LEED® Standards and Practices. "Since this is so new, there is nothing like this on the internet now to inform people about LEED® Certification," says Walsh. "Other companies have hinted at getting something like this together but haven't acted on it." Grubb & Ellis hopes they will launch this as part of their website by early 2009.

Staying tuned with what is going on in the real estate industry when it comes to green developments, green regulations, and green initiatives is key for any individual who wants to stay in the loop. Making sure to act on the opportunities created within the evolving system is a successful path towards industry leadership.

Sources: Geraldine Walsh, Vice President at Grubb & Ellis, US Green Building Council, Energy Performance of LEED® for New Construction Buildings: Final Report March 2008 by Cathy Turner and Mike Frankel

Seven Crucial Things to Remember in This Unpredictable Market

noreply@blogger.com (RDM Team) — Thu, 30 Oct 2008 18:52:00 +0000

By Peter Boritz

• Don't Panic – remember to breathe; don't make rash decisions like cutting staff or drastically cutting prices. This can be very damaging and hurt you when the economy turns the corner. Instead focus on making strategic adjustments which can be positive.

• Focus - Stay on point with your core revenue generating products and services – the items that are important. Be smart and prioritize - your next big idea may have to go into a holding pattern.

• Collaborate – This means with your customers and staff. What are their ideas on how to operate in today’s conditions? Clients can sometimes have the best advice.

• Think Positive – A positive attitude from the leader keeps staff morale up and will help keep generate positive productivity and a healthy environment.

• Market - Never stop selling and marketing even if you have to cut expenses. Many things can be done at low or not cost.

• Network – Think about getting out there and also using the Web for networking. This can be a truly inexpensive way to meet new people for personal or business relationships.

• Cross Promote – Work together with a complimentary business and split the costs. This keeps you in front of your clients and allows you to stay top-of-mind with them in tough times. When the market turns, this will put you one step ahead and at the top of their list.

RDM’s Peter Boritz Hosts Real Estate Talk Show on CPN Radio

noreply@blogger.com (RDM Team) — Tue, 28 Oct 2008 13:15:00 +0000

Peter Boritz, president of Real Data Management, now has a dual role in the real estate scene: he now hosts a new online radio show about the intersection between real estate and technology. Real Tech, which airs digitally on Commercial Property News Radio, will cover emerging technology, trends, and figures in the real estate industry.

This week, Boritz gave accolades to Google’s Desktop Search feature, which he said is a boon for busy real estate executives. “Desktop makes searching on your own computer as easy as searching on the web,” Boritz said, adding that it is able to search keywords across all file types: e-mail, text files, databases, music, video, photos, web history. “It frees you up from having to manually organize your files,” he said.

Boritz also talked about news alert services that feed real estate executives news and trends. To hear his explanation of these technologies, listen to the newest Real Tech segment here.

Future posts will detail trends in social networking, web 2.0 technologies, platforms, and mobility as they relate to the real estate field.

Boritz explained his approach to hosting the segments: “There are many choices and challenges that need to be made when dealing with new technology because of to the vast amount of choices at your fingertips. The best way to handle this is determining your needs and goals. Ask yourself what you want to get out of an investment in technology.”

Greener: it’s a win-win game

noreply@blogger.com (RDM Team) — Fri, 17 Oct 2008 21:32:00 +0000

by Kasia Janczura

Our world has just recently been hit with a wave of green initiatives, but many individuals have been focusing on environmentally friendly behavior for far longer. Take IKEA for example. They have a strict policy of charging their customers for using plastic bags. Take any European store for that matter. Walking into stores expecting plastic bags is not the common trend that became the norm in the states. Being environmentally-conscious, or as we call it, following “Green” trends, not only makes the planet healthier, it also decreases costs for companies (no bags, less to spend on equipment.)

We must stress the importance of socially responsible business operations. It will promote the formation of a positive image of the Real Estate Industry, while providing for the greater good of the society. We must grow our businesses in environmentally and socially responsible measures. Progress towards a “greener” business structure is still needed, and we must not elude this transformation, but embrace it.

RDM strives to be a greener business every day. We depend more on electronic documentation storage and correspondence, using less paper for printing. When at all possible, we use recycled and scrap paper for printing. In addition, we recycle, use reusable grocery bags when shopping for office supplies, save energy by turning off all our electronics when not in office, and have equipped our kitchen with reusable silverware and dishes, not to rely on wasteful Styrofoam cups and paper plates. We are bettering our environment while decreasing our operational costs.

We encourage our clients in green practices as well. RDM’s newly developed product, RealAccess™ will help our clients do just that.

It is a common conception that becoming greener is coupled with less comfort, a notion in need of immediate correction:>

RDM’s RealAccess™ maximizes efficiency in resource utilization and implementation by eliminating unnecessary tasks that are replaced with its single portal feature. It’s a one-stop for all portfolio needs: client service, advertisement and marketing, property updates and information, filing, and more.

There is no waste accumulation, no excessive energy usage, no unnecessary printing, and, most importantly, no extra cost (rather the opposite, companies become more cost-efficient). In addition to promoting Green measures,RealAccess™ facilitates and expedites transmissions, communication, and organization within a company. It is fast, easy, and affordable, while efficient, good for the environment and well perceived by the public.

Becoming more environmentally conscious and cost-effective will allow for real estate businesses to maximize their profit while promoting an eco-friendly vibe to their businesses. Going green is a way of life which, sooner or later will be mandatory. There is still chance for the Real Estate Industry to implement changes while in the introductory phase of the transformation from the old to the “green” strategies. We just have to make sure that it’s not last to do so.

Customer Service in Small Businesses

noreply@blogger.com (RDM Team) — Wed, 15 Oct 2008 17:53:00 +0000

by Krystal Goff

In many large cities, the best example being New York City, small businesses can successfully trump major corporations. Small businesses can outrun the larger ones by cleverly attracting the right market. Manhattan is one of the only major city in America where there is no Wal-Mart and no Target (despite the sky-scraper size advertisements for Target in Times Square).

Most could argue that this is a good thing. First and foremost, major corporations cloud diversity. Second, with small businesses, employees can get to know your face and name, and who knows? You may even get some friendly discounts if they like you.

But what is the price we pay with predominately small business communities? Higher prices, often based on ambiguous and inconsistent mark ups. Absolutely no standard of cleanliness or order, no reason to treat customers like they matter, all simply because these employees deal with hundreds of people a day, and have no one to answer to but themselves. These business practices often won’t be a direct result of a business failing since New Yorkers have needs that face a limited source of supply.

Most New Yorkers use public transportation, they have no choice but to do business wherever it’s convenient for them. Location is everything when deciding where to eat, bank, etc. If it’s not within a five-block radius, forget it. The vast majority of New Yorkers will choose convenience over proper customer service.

This is not to say that all small businesses in New York City are lacking in attentiveness. But for me, what sets apart one small business from another similar one is the customer service I receive. Such attitude, I believe, is shared by many. Acknowledging this, I hope that regardless of the upper hand a supplier has in the market, in the long run, lack of proper customer-salesperson interaction will ultimately lead to either more businesses entering the market, thus leading to more competition, or enough customer dissatisfaction to significantly damage business

We all know how getting bad customer service makes us feel. Personally, it makes me angry and irritable, even long after I leave a given establishment. I may give the staff member my own dose of bad attitude, which of course rarely helps the situation.

What is most frustrating is that providing good customer service is not a major task. It’s not something that takes a vast amount of money, investment, or time when it comes to small businesses. It’s the easiest, cheapest, and most effective way to get and keep business. It starts from the view of the business from the outside, the image the business projects and how it wants to be perceived by the customers. Even just the small effort of making direct eye contact with the prospective client can make a huge impact. When I come across someone who even pretends to care about my situation, it can make my day.

Putting emphasis on this aspect of any business will tremendously affect client retention rate and might save a business from sinking in these testing economic times.