Commercial Real Estate Market on the Rise Driven by Number of Affordable Spaces

THRONWOOD, NY, August 12, 2011 (Press-News.org) The commercial real estate market has seen a marked increase recently according to current reports. With a large number of affordable spaces still available to lease or buy, small and large businesses alike are now able to take "advantage of the market to negotiate more favorable lease terms or lower rates," reports a recent article in The New York Times. It is more important than ever now to find a real estate professional that can negotiate the best lease terms or purchase price, as well as to secure a brokerage agreement that is equitable and fair," says Lewis B. Kaye, president of LB Kaye International Commercial Realty, now celebrating its
50th year in business.

He continued, "Many people choose a neighbor or family member that happens to be a real estate broker, but there is much more to think about when choosing the right professional that can work out a deal that is in your best interest, as well as negotiating broker commission rates."

In a buyer's market, broker commissions are not always split evenly, explains Kaye. It is important to first determine the appropriate percentages for the buying and selling brokers before entering into an exclusive agreement with the seller.

Kaye lists the following as key factors to look for when choosing a commercial Realtor:
• Distinguish between a broker that represents the seller and a broker that represents the buyer
• Number of years in the commercial real estate business
• Experience in representing the seller in commercial real estate transactions
• Specialization in your geographic market
• Awards received and industry success/recognition
• Integration of the latest technology and global internet sites are key

"It is important to find out whether the individual you select is a real estate broker or a Realtor . This can make a big difference regarding the accessible sites for your property listing," he said.
He continued, "A Realtor has access to Realtor.com, which is now for both commercial and residential listings. Realtor.com is the largest website in the world with the most hits."

According to Kaye, another important credential specific to being a Realtor is adhering to the National Association of Realtors (NAR) and the Real Estate Board of New York (REBNY) Code of Ethics. The NAR standards a Realtor needs to adhere to are:
• When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS pledge themselves to protect and promote the interests of their client.
• REALTORS shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction.
• REALTORS shall cooperate with other brokers except when cooperation is not in the client's best interest.
• REALTORS shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest, any real property without making their true position known to the owner or the owner's agent or broker.
• REALTORS shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest, any real property without making their true position known to the owner or the owner's agent or broker.

Lewis B. Kaye, president of LBKaye International Commercial Realty was recently honored with the 2011 Realtor of the Year award by the NYC BMAR Board of National Association of Realtors. Realtor of the Year is the highest honor that BMAR bestows upon one of its members.

Kaye has been a creative broker and has handled some of New York's most prestigious commercial and residential properties. His average sale is $10 million. He has also personally converted and made over 10,000 sales including co-operatives, condominiums, townhouses and investment properties - to include both land and waterfront. Kaye put the first flip tax in one of his buildings, which is used today to reduce building costs. The first condominium was The Century on Central Park West and the Schwab House on Riverside Drive - the largest cooperative conversion. Lewis Kaye is planning some new real estate launches in the near future.

CONTACT: Dawn Dankner-Rosen
DDR Public Relations
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