Arbitration Officials Provide Valuable Checklist
Top story
In its continuing effort to provide education and service to its members, the AIR is underlining that the Arbitration process is a value added benefit of Association membership. The foundation of this process is AIR’s respected “Rules of Professional Conduct”, which outlines how brokers should go about treating one another in an ethical fashion throughout transactions. |
In today’s tight real estate market, however, AIR reports an increasing number of calls from Brokers who feel they have been mistreated in transactions. This frequently occurs even before Brokers consult their managers, according to Jim Sullivan and Dan Weil, co-chairs of the AIR’s Arbitration Committee. |
To help ease this situation, advance the idea of Brokers being treated fairly, while heading off illegitimate claims and expediting legitimate ones, Sullivan and Weil have provided a valuable checklist of steps. “These steps represent an orderly, professional process designed for Brokers to be treated fairly and avoid spending unnecessary time before making claims,” Sullivan said. The steps, to be taken prior to contacting the AIR office or the Arbitration chairmen, follow: |
- The Broker should first review and research the “Rules” to determine which ones apply to his or her circumstances.
- After reviewing the “Rules”, the Broker should discuss the circumstances with his or her manager and determine whether the case has merit.
- The Broker/Manager may contact Sullivan or Weil to review their findings and get a preliminary opinion on their case. Keep in mind that such an opinion will reflect just one side of the issue.
- The Broker advancing the claim is strongly urged to contact the other Broker to discuss the issues directly and attempt to reach resolution. This action may or may not include the respective managers.
- If the direct broker-to-broker discussion is unsuccessful, include the Managers and have a face-to face meeting to attempt resolution of the matter again. It should be emphasized that face-to-face discussion is preferable to a conference call, and encourages a more moderate approach, while making it more difficult to take a rigid, argumentative position.
- If the various avenues of discussion are unsuccessful, then it becomes appropriate to involve Sullivan or Weil to seek early Mediation. They advise, however, that it is typically difficult to mediate at this point because neither party has submitted their complaint or response in writing, which requires careful review of supporting documents, and filters out unfounded claims and statements.
- If success is still not achieved, the next step is filing for Arbitration. This puts both sides of the story down on paper so the Mediator can review both perspectives and again attempt Mediation. The Mediator can now strive to persuade the parties to compromise and settle.
If the process remains unsuccessful, it then moves to a formal Arbitration, and the Mediator’s job is complete. “We have developed this checklist for our fellow AIR members with the aim of saving Brokers time and getting to the bottom line quickly. We’re here to see if there is a compromise that can be reached that satisfies both parties before going to Arbitration,” Weil said. “It comes down to the Golden Rule of treating fellow Brokers as you would like to be treated. And it’s all underpinned by AIR’s ‘Rules of Professional Conduct’”. Click here to access the “Rules”. |
Forms Underline Professionalism
Member Benefit
| As an AIR member, you can take pride in knowing that the professional organization you are an integral part of is at the forefront of industry advancement and ethical standards. One prime example is the over 50 comprehensive commercial real estate forms and related addenda developed and constantly updated by AIR. Today these forms are routinely regarded as the industry standard that, in fact, are spreading nationwide. These time-tested documents enjoy the respect of the AIR, the nation’s foremost non-profit association of commercial real estate professionals. Equally important, these forms reflect the constant review, refinement and updating by brokers, attorneys, developers, property managers and related professionals. |
Gould Takes a Long-Term View
Member Profile
Jeff Gould takes a long-term view of the path of commercial real estate. This explains why Jeff walks the talk in communicating how much impact brokers have in attracting business to communities as part of his belief in forming key networking alliances. It also underlines his adherence to new business opportunities and why he says the “green” movement is a big part of that trend. |
Jeff is a Senior Associate in the Encino office of Colliers International specializing in office and “flex” properties, including medical office space, in the San Fernando Valley and the “101 Corridor” bridging L.A. and Ventura Counties. Jeff entered commercial real estate in 2004 with Sperry Van Ness in the Valley, moving to Colliers late last year. |
“I take a long-term view of where the commercial real estate business is going. That’s why I get involved in industry organizations,” said Jeff, who is a director of the LA Chapter of the US Green Building Council, and chairs the Valley Green Building Task Force. |
Jeff also advances the importance of brokers to business. “One of the big misconceptions is that many people don’t realize how much influence brokers have in bringing business to communities. Brokers are truly the region’s sales force,” Jeff states. Getting up to speed on what “green” building mandates are coming down from the State and Federal government is another crucial issue, he says. “How people own, manage, and operate buildings, and how tenants occupy them is going to be vital to the future. If I’m a tenant, I’m going to look for a landlord who’s into the economics of green,” Jeff declared. |
Jeff’s forward looking approach is advancing his career. Recently he represented the seller in the disposition of a 61,000 multi-tenant office building in Warner Center for $11.9 million, or $190 per square foot. |
A resident of Studio City, Jeff graduated from USC with a Bachelor of Science degree in Finance. He says he’s a world traveler in his leisure time. He just returned from Costa Rica and is off to Colombia shortly. |
AIR
Member Deals
Orange County
•$13 Million Industrial Sale Keys Seybold, Ward Deals
Ben Seybold and Sean Ward in the Anaheim office of CB Richard Ellis report their representation of Imation Corp. in its disposition of a 163,139 square foot industrial building located at 3190 E. Mira Loma Ave. in Anaheim for $13 million. The buyer was Chun Lun Ko, who purchased the property for the corporate headquarters of Best Cheer Stone, a stone company. The transaction was the largest of three recent industrial sale transactions in North Orange County by Seybold and Ward totaling $28.6 million.
•DAUM’s Barreiro, Denniston Handle $6.3 Million Costa Mesa Sale
Mike Barreiro and Gavin Denniston of DAUM Commercial Real Estate Services' Newport Beach office report their representation of AJAN Properties Limited Partnership in its owner-user acquisition of a 41,655 square foot industrial building located in Costa Mesa for a total consideration of $6,332,560, or $152 PSF. The property is located at 320 Kalmus Dr. and will be occupied by Precision Optical. Lee & Associates represented the seller.
•Allan Lee of NAI Guides Wireless Communication Firm in Irvine Office Buy
Allan M. Lee, CCIM of NAI Capital’s Commerce office represented Unication USA, Inc., in the purchase of a 15,724 square foot office facility located at 34 Tesla, suites 100 and 200 in Irvine’s Tesla Business Center from Tesla KJP/Pl, LLC. The transaction was valued at over $3.1 million. The seller was represented by Gregg Haley and Jeff Carr of CB Richard Ellis. Unication is a Taiwanese corporation and a global group with offices in Taiwan, the USA, Canada, and China.
South Bay
•Recycling Firm Leases Wilmington Expansion Space
Brandon Carrillo of Lee & Associates’ Long Beach office reports his representation of Sutta Company, a recycler of commercial plastics, in its lease of 41,774 square feet of industrial space for expansion at 1248 Alameda St., Wilmington. Kyle Degener in Grubb & Ellis’ Torrance office represented The J. W. Steinmeyer Family Trust, the landlord, Consideration for the eight-year lease was not disclosed.
Northwest Region
•NAI Leads Investor to Van Nuys Apartment Buy
Yair Haimoff of NAI Capital’s Encino office represented JB Partners, LLC in the investment purchase of a 19,515 square foot 40-unit apartment building (Langdon Apartments) situated on 34,896 square feet of land at 8220 Langdon St. in Van Nuys. The transaction value was not disclosed. The seller, CRP Properties, Inc. was represented by Dan Withers and Brandon Michaels of Marcus & Millichap.
Ventura County
•AIR Brokers Show Humanity
Mike Walsh, SIOR, and Melinda Walsh of DAUM Commercial Real Estate Services’ Ventura County office represented landlord Scan 121, LLC in its lease of a 17,005 square foot industrial building at 121 Rice Ave. in Oxnard to Habitat for Humanity of Ventura County. Doug Shaw in the Camarillo office of CB Richard Ellis represented the tenant. Terms were not disclosed.
AIR Quick
Bursts And Coming Events
Would you like to feature your listing on AIR’s homepage? - Your listing can be one of our Featured Properties on www.airea.com. This will include a photo of the property, availability, listing agent details, and a link to your AIR brochure or flyer.
For details on how your listings can become Featured Properties, click here or please contact Martin Vartanian at (213) 687-8777 ext. 4308 or by e-mail at mvartanian@airea.com.
In-House Training - The AIR offers
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If a group of brokers or staff from your office would
like to have the AIR bring training to you in-house,
contact Martin Vartanian at (213) 687-8777. A number
of firms have already taken advantage of this great
service and been very pleased with the results.
Member Deals and Profiles - As soon as you
close a substantial deal, make sure you give Art Ansoorian
a call. Your deal will be featured in the next issue
of AIRWaves. Also be sure to get your personal bio over
to Art and be a featured member in the newsletter; it's
a great way for everyone to meet fellow members! Call
Art at (805) 653-1648, or email him at artpr@earthlink.net.
We Need Your Photos and Bios – AIR is in the process of building its database of member
photos and bios. If you would like your photo and bio
to appear on the AIR website at www.airea.com,
please send them via mail or e-mail to Jobert,
or if you have questions, call him at (213) 687-8777.
Tech
Tip
AIRMail - Online Demo is available on the AIR Website.
AIR has provided an Online demo featuring some of the major functionality benefits of the AIRMail program. Please click here to view the online demo.
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