Ralph Valentine, President 2018
It is an honor and a privilege to have been elected to serve my fellow Commercial Realtors. I look forward to working with Allison, the boards, the committees and the members.
Education will be the highest priority this coming year. The focus will be: to raise the profile of NHCIBOR, to raise the profile of the commercial agent, to create a “farm system” of competent, professional commercial agents and future leaders, to train agents on the demands of and best practices of a commercial real estate (CRE) career, and raise awareness of Article 11 of the Code of Ethics. In general we will raise the professionalism of the CRE industry in NH.
A task force of 5 board members has developed the foundation for a bold and innovative program. It will focus less on sales and more on the nuts and bolts of CRE. A basic curriculum and budget is in place; funding is being sought. The goal is to be economically self-sustaining. We expect a certificate to be issued once the full curriculum is completed.
Our Public Policy Committee will keep an eye on legislation, especially the EPA’s MS4 permitting process.
We will continue to sustain and enhance the brainchild of the late Jim DeStefano: NH CIBOR Cares.
The passing of a major overhaul of the tax code is expected to extend the runway of our current expansion. Some benefits: 1031 exchange provision remains in place, Commercial property landlords will still be entitled to a full mortgage interest deduction, in addition to benefitting from the reduced corporate tax rate of 21 percent. The depreciation period for commercial properties is reduced from 39 to 25 years. Pass-through entities such as LLCs and partnerships will benefit from a lower tax rate. Partners in such entities will now be taxed at their individual tax rate less 20 percent deduction for business expenses.
The board will monitor the bankruptcy filing of Xceligent, which had been the backbone of the CCIM’s Site-to-do-Business. Why monitor it given the small percentage of Realtors who have the designation? Out of the ashes of Xceligent will emerge a stronger and more focused Commercial Division of NAR.
We have a busy year ahead of us. We will employ a combination of committees and task forces, small groups to address specific tasks within specific time frames. Those who know me know that I won’t be shy about reaching out and asking for help. If you are ready to step forward and provide an assist in 2018, call me at 603-490-9191.
For enjoyment, we will continue to organize as many events as possible to bring us together in the spirit of fun and laughter.
I am committed to doing the best of my ability as president, and then some.