By Charles Logan, Jr.

During all economic cycles, and particularly down cycles such as the one we have been experiencing for the past year and a half, it is especially crucial that all professionals, in all disciplines and industries, reach out to one another and take the art of networking to a new level. Yes, there are potential deals to be made, but it is also about sharing knowledge and experience.

There is a substantial body of knowledge within the real estate industry, that has been created by those who have "been there before" and have experienced the best of times and the worst of times. That experience, passed along from generation to generation, provides an invaluable set of lessons for the future cycles to come.

Real estate cycles come and go of course, and those who are relatively new to the real estate industry will certainly find their initial experience with a down cycle as troubling, bothersome, financially difficult and even scary. Times such as these require the different tiers—beginners, intermediates and industry veterans—to come together to make things happen. A recovery awaits, and for the real estate industry as a whole, it will be fostered by lessons learned.

The place to start that process of healing and recovery is at the industry association level. It is only natural, given the very nature of a professional association, and at The Industrial and Office Real Estate Brokers Association of the New York Metropolitan Area, Inc. (IOREBA), for example, networking has been the overriding mission for the past year. The trends we have seen include a major spike in member diversity, all levels of experience, and all disciplines within the real estate arena. There has been a significant increase in younger people joining, and in the larger picture, the interaction has been fascinating to watch—brokers, owners and developers, financial community, legal, etc.

We have strengthened our educational programs, including a contribution of more than  $20,000 for scholarships for Monmouth University's Kislak Real Estate Institute. Therein lies the future of our industry—preparing the best and brightest and giving them the tools they need to be successful in this and future real estate cycles.

We have also expanded our executive committee with the stated goal of reaching out to more people—and enhancing industry relationships. New blood means new ideas and fresh thinking, new programs, and new approaches to the issues that all of us face.

And it goes without saying that no industry is an island. Interaction is crucial, and that includes reaching outside industry borders to help others. As an organization, IOREBA participated in the Toys for Tots program during the recent holidays, and this coming spring, the organization will launch another ongoing charitable giving for a food bank program as part of its annual golf outing. In fact IOREBA has created an easy link on line within their web site to give everyone an opportunity to make ongoing donations throughout the year. Helping those who need it the most ultimately helps all of us.

IOREBA's stated mission is to unite those men and women in the real estate profession whose principal occupation is the performance of services primarily related to industrial and office real estate—it's in our name, in fact. Those services run the gamut—brokerage, development, property management, financing, law, accounting, architecture, moving, furniture, art, construction even media and web site development. The list goes on, and while each discipline has its own individual concerns, all are ultimately intertwined. It all comes back to networking and interaction.

As we move forward into the New Year, we are changing the locations of our events to help various markets economically. We are assisting people in seeing different marketplaces and venues. We are changing our events to be more informational. We are adding vendor and trade booth opportunities to provide greater exposure for everyone to learn from. Yes, networking and face-time relationships are invaluable, but information is just as important. Indeed, information is certainly a byproduct of networking. This face time and interaction creates ideas and relationships that feeds creativity and develops opportunities for all of us to benefit from.

The old real estate saying of, "location, location, location," certainly holds true in the modern era for a business. That saying applies to each of us if you’re not out there and exposed to what is going on you lose. So that adage applies to all of us as well “location, location, location” you have to be involved to win;  just add to it the words "ongoing networking,” accurate & fresh information". This has particularly been underscored by recent economic and business trends, those who try to "go it alone" will ultimately be unsuccessful.

Pick up the phone and make that call. Attend that meeting and get some face time. If you snooze, you lose. Don't be afraid to ask for advice from those who have been there before—they probably asked the same questions a generation ago when they were new. And on the other side don’t be afraid to look at something from a fresh new perspective. Building relationships is the key to each of us to succeeding and being successful—that's probably the most important piece of advice.

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Charles O. Logan, Jr., is president and CEO of The Aztec Corporation & Aztec Architects, LLC. in Iselin, NJ. He has been involved with IOREBA for more than 24 years, currently serving as the organization's 2009-2010 President.

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