This October, I had the honor of being elected president of the Connecticut/Western Massachusetts Chapter of the Society of Industrial and Office Realtors, also known as SIOR. The term is for two years and I intend on doing my best to follow in the footsteps of my predecessor, Mark Duclos, SIOR, and managing director of Sentry Commercial Real Estate Services, Inc. in Hartford. Duclos was an outstanding president who took his leadership role seriously. He worked on many initiatives to enhance the Society. I speak for all chapter members when I say; Mark was an inspiration. Of considerable note under Duclos's leadership as president was the successful development and implementation of the sponsorship program, which has significantly improved the professional content of our chapter events. I will certainly try to emulate Duclos's efforts, but it will be hard to exceed them.
Other chapter officers elected to two year terms are Frank Hird, vice president; and Jeff Ryer, secretary/treasurer.
The society began in 1941 when a group of industrial brokers located in the Washington D.C. region were asked by the war department to inventory and categorize industrial properties for the war effort. The organization began as the Society of Industrial Realtors, and in the '80s expanded to include the office sector. The name was then changed to the Society of Industrial and Office Realtors.
There are many benefits for commercial property owners, tenants, investors, and companies in need of space to use the services of an SIOR member. One of the main reasons is ethics. With any sales position, there sometimes exists the perception that the salesperson will do what is best for themselves, rather than what is best for the client. That is far from the truth within the SIOR organization. The men and women of the Society practice at the highest level of ethical standards. An SIOR always puts the client first.
Another reason to use a member of SIOR is their expertise and experience in the industry. All our members are well versed in many aspects of the commercial real estate business, including investment advice, SBA 504 loan programs, environmental issues, and much more. Continuing education classes are mandatory to maintain the SIOR designation.
One cannot just join the SIOR. There is a formal application process involving peer review. After the application is completed the candidate must obtain 3 letters of recommendation, and prove a track record of a sustained transaction activity level for duration of not less than 5 years.
A goal during my tenure as president will be to work on enhancing the SIOR brand recognition. Within any business that is in the mainstream, the organization's name and mission statement should be well recognized.
Another project that our organization will be focused on is our Community Outreach Program. Our chapter has aligned itself with the Habitat for Humanity organization. We will be working on fund raising events to help the Veteran's Initiative program that Habitat is developing for Veterans with special needs; a service to build necessary amenities into Veterans' homes. More news to come.
On behalf of the Connecticut Chapter of the Society, I look forward to a successful term and hope that our organization continues to be a guiding force in the commercial real estate world.
Bruce Wettenstein, SIOR is the president of the SIOR Connecticut/Western Massachusetts chapter.