As real estate brokers, we're all aware that there are lots of us operating in this marketplace. How to differentiate yourself and become the exclusive broker or at least the broker who makes the deal? Add value for the customer. Don't just find a suitable building for your purchaser or suitable purchaser for your seller's building. Enable the deal by bringing financing, utility abatement, tax abatements, zoning assistance, and other valuable resources to the table.

One of the best kept secret financing resources out there to help the deal happen is the 504 loan program for small businesses buying buildings. The biggest problem small businesses face today in terms of capital acquisitions is lack of cash for the deal. The 504 program significantly lowers the cash required from the purchaser. Under the 504 program, the buyer injects just 10% of the total project cost-including building, renovations and soft costs. A bank or other lender lends 50% in first mortgage position. The 504 program lends 40% (second mortgage) for 20 years at a self amortizing fixed rate (currently 4.9% simple rate; 6.75% all in). Participation in the 504 program also entitles your buyer to special programs from Keyspan and the ability to eliminate mortgage tax and sales tax.

In addition to financing for the building purchase, you can offer long term low interest working capital loans to the purchaser or seller under various economic development programs. The LI Targeted Industry Loan Fund provides long term, low fixed rate subordinate loans to software developers, high end electronics companies, pharmaceutical or bio medical companies, fisheries related and defense dependent manufacturers.The No. Hempstead Economic Development Fund, Town of Hempstead Small Business Fund and Suffolk County Revolving Loan Fund can provide needed affordable working capital for the parties' expansion needs. Affordable venture capital for high growth companies is also available for small business clients-both the purchasers of buildings and the sellers who are expanding their business. For certain types of expanding companies, abatements are available from Keyspan and LIPA. NYS offers subsidies of consultants brought in to help a purchaser organize the layout of its new building. In appropriate cases (chiefly construction deals), you may be able to assist borrowers with relief from real estate taxes under IDA straight lease backs.

Another valuable resource for both seller and buyer is the Long Island Procurement Program-free counseling to help businesses obtain and perform on government and other contracts. Remember- all businesses are always looking to expand their business. If you can bring them more customers, of course you'll get to broker the deal.

The list goes on and on. As a real estate broker in today's competitive market, it behooves you to be aware of the current programs available to help your sellers and your purchasers- programs which will make you a hero- help make the deal affordable for the purchaser-help accomplish the seller's objective- and get you repeat business!

For information on small business resources and incentives to help get you clients and help your clients successfully complete real estate transactions- contact the Long Island Development Corporation at 516 433 5000, biz-loans@lidc.org or gov-contracts@lidc.org. Broker confidentiality protected!