I Would Like a Little Perspective
A wealthy elderly woman who amassed a fortune from her deceased husband who was in oil business lived in a penthouse suite at the Waldorf-Astoria in New York. She was so wealthy that she was able to live in the hotel like a guest for many years. The staff all knew her and catered to her every need. She had the manager, front desk clerks, concierge and rest of the staff at her beckon call.
One evening at about two in the morning she was awoke by a guest in the penthouse suite next door playing the piano. After a few minutes it didn't appear that the noise was going to stop. So she put on her rob and raced down to the front desk and asked to see the manager. She told the manager that she couldn't get any sleep as someone was playing the piano next door and it was keeping her awake.
The manager said, "Oh I am so sorry I will call up to the penthouse right away and tell Mr. Pollini that he is disturbing the guests." The lady paused for a moment and asked, "Who did you say was playing the piano?" The clerk said, "That is Mr. Maurizio Pollini, the concert pianist, he had just finished a three hour concert at the Met. He had told me that he did not want to be disturbed as being the perfectionist that he is, he was unhappy with his performance that evening and he wanted to replay the entire concert in his room before he went to bed."
The lady responded, "Oh, I am sorry, my mistake, please don't call him,” and then she rushed off back to her room. The hotel manager thought that was kind of strange so a bit later he checked in on the lady, knocked on her door and found her sitting quietly next to the adjoining wall with her ear on the wall.
“I would like a little perspective.” Before the lady discovered that the piano playing next door was by a famous pianist it was just noise keeping her awake. We are all bombarded with all kinds of news painting a picture of doom and gloom of today's real estate market, yet alone the economy in general. Yes, unfortunately there are many homeowners who are in dire straits, however this is just 1% of the nation's mortgages that are having trouble and this doesn't include all of the homes that have no financing. I tell you, I feel we are entering one of the best markets I've seen. Again, it matters how you look at it – your perspective – and how you are positioned.
I am Burt Polson, Broker and owner of ACRES Real Estate Services. And yes, I get the privilege of having initials after name. Mine are CCIM, which stands for Certified Commercial Investment Member. There are only a handful of us in the area and basically it means I am suppose to know what I am doing in commercial real estate. Seriously, it is a great organization and a hard-earned and practical designation that has taught me the many facets of commercial real estate sales, leasing and investing. I have been in real estate for over 17 years. We are a small firm that specializes in commercial sales, leasing, consulting and management. What does that mean for you? Well I am the person you call when you need a location to buy or lease for your office, store or warehouse. The person you call when you decide to sell your investment property. The person you call when you need help in choosing to buy or lease. The person you call when you need help deciphering what your lease says. And, the person you call when you need help in attaining and maintaining your financial security as it pertains to real estate.
In giving you one tidbit to take with you, I find that a point of confusion many of my clients have is who pays for my services. In most cases, the seller or in the case of a lease, the landlord or lessor pays. This is usually done through a commission split with another broker or directly if I represent the owner of the property. However, if I were managing your real estate portfolio in many cases I would receive a monthly fee based on a percentage of the rental income of the property. And if I were providing consultation services to you, this would be at an hourly rate.
I am excited to tell you that ACRES is growing. I will be operating from my new location at 2045 Jefferson Street, Napa, 94559 on April 1. It will be a soft opening as we still have many things to do to have the office fully operational. My phone number (707) 254-8000 will be the main number for the office. My new mobile number is (707) 266-8814 and is currently operational.