End of Year Competition

Start Date:     October 21, 2010

End Date:        December 17, 2010

Submit list of 20 potential deals -         50 Points

      Between October – December 

       Submitted by 10/21/10                          

Closing Existing (Potential) Deals –        20 Points

Received the Check                                         

Generating new deals –                           5 Points

      New clients                                         

      Have not done a search yet

       Potential Income

       Engagement Letter for Buyer/Tenant

       Listing Agreement

1st person to the office (By 9am) -               1 point

        Showing Day (before 10am) is considered a BYE  

Opponent is not in by 9 am on BYE day   -1 point

5 calls per day to new landlords -         1 point

        A List of Landlords you have never spoken

        to before. If there are multiple calls to

        Someone new, it will count.

        (Idea is to get new listings)

*Definitions:

        ‘Closing’ – an invoice has been sent and you expect a check.                                    

        ‘New Deal’ – is not in the Potential list written at beginning;

                           You have received a signed Duties Owed.                                                           

The Importance of Understanding Your Environment

Written By:

Hayim Mizrachi, CCIM

First Vice President / Business Manager

NAI Las Vegas

I remember highlighting a sentence from Real Estate Brokerage: A Management Guide that read “What separates those who succeed from those who don’t is an understanding of the environment and the ability to adapt to its changes.”

This statement is ever present in our industry. Seemingly overnight brokers, young and seasoned, had to learn new terms and rules of engagement. What is the relationship from default to BOV to controlling an asset? Is a Chief Credit Officer senior to a Special Servicer? Or is the Receiver the most popular guy at the party?

At NAIOP, CCIM and SIOR chapter meetings conversations of getting in the REO game persist. However, very few brokers are realizing a significant market share in this segment over others. What separates the broker who successfully represents an entire account for a given bank, lender and/or servicer from the broker who might acquire a one off listing if any?

You must be able to surpass expectations by finding answers to meet the client’s needs. Before you can find answers, however, you must first understand what the client’s needs are. An example would be how to structure an offer to purchase an asset from a bank or servicer. Why is the offer structure important, an offer is an offer right? Wrong.

A bank has regulatory restrictions that they have to manage. Once a bank accepts an offer and opens escrow they are required to write down the asset to the offer price. Now consider three weeks of due diligence goes by and the buyer falls through. The bank has just realized a loss without disposing of the asset. Multiply that by a dozen assets or more and it could equal bank failure.

This is why it is imperative for a bank to only accept offers from qualified buyers (substantiated with strong financials, track record, and verification of funds) with limited due diligence timelines. One other very important thing to consider is to schedule the closing at the end of the quarter.

The Next Chapter

Hello All,

In case you haven't heard, we have recently joined a new firm, NAI Las Vegas. We have a new platform to utilize, more tools to help our clients and still the same great team who always works diligently on any inquiry you may have. We look forward to working with all of you at NAI Las Vegas.

Our new contact information is listed below.

Hayim Mizrachi, CCIM

First Vice President / Business Manager

HMizrachi@NAILasVegas.com

702-853-1844 (D)

702-796-5479 (F)

Jarrad Katz, CCIM

First Vice President

JKatz@NAILasVegas.com

702-853-9084 (D)

866-498-4844 (F)

Hayim on Panel at NAIOP breakfast August 12

• The Southern Nevada Chapter of NAIOP, the commercial real estate group, will hold a panel Aug. 12 on the state of the commercial brokerage industry. The speakers include Hayim Mizrachi of Prudential Commercial Real Estate; David Scherer of Grubb & Ellis; Bridget Richards of New Growth Commercial Real Estate; and Dan Doherty of Colliers International. Suzette LaGrange of Colliers is the moderator

Hayim did great and we made a lot of friends that day!!!!!

• Competition update: Hayim 18 Jarrad 14

Another Satisfied Client

This is an email from a client that we recently comepleted negotiations on a lease renewal. When all was said and done, our added value was $13,000 over 3 years plus the client didn't have to fly into Las Vegas. All this at a cost of $0.00 to our client. If you our anyone you know is in the market to lease commercial real estate or renew their lease please give us a call. ______________________________________________________________ Nice work Guys! This worked out just the way I had hoped. Santa Barbara Farms is going to save some serious money, and hiring you as our real estate professional on the deal enhanced the savings, plus you earned a commission. And I didn’t have to fly to Vegas to make it happen – not that I mind Vegas, but time is money. This one is a win-win all the way around. Thanks again. Paul Santa Barbara Farms

Week 1 Results

Week one is done and the results are loud and clear. Hayim is leading by 5 points. Jarrad was at a disadvantage because he left town Thursday and Friday for a wedding. Now that they have settled into the competition with pace and rules, the next two weeks should get interesting. Hayim is going to be out of town Week 4 of the competition attending the CCIM Board Training Institute. That will give Jarrad the chance to gauge his position and adjust his activity to pursue victory. Can Hayim do enough over the next two weeks to shut Jarrad out? Stay tuned…

Industrial Summary

This is a great article about the state of the Industrial market. Industrial Summary