Seven Crucial Things to Remember in This Unpredictable Market

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.

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RDM’s Peter Boritz Hosts Real Estate Talk Show

Peter Boritz, CEO of Real Data Management, now has a dual role in the Commercial Real Estate scene - hosting a new online radio show about the intersection between commercial real estate and technology.

Real Tech, which airs digitally on Commercial Property Executive, will cover emerging technology, trends, and figures in the commercial 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.

Future posts will detail trends in social networking, web 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.”

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Greener: it’s a win-win game

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.

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Using Customer Service to Attract the Right Market in Small Business

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.

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