Commercial and Other Conference Considerations – Friday, November 8

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Commercial Committee

At the conference. Plenty of action in progress.

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Commercial “Must Go To’s”

“Must Go To’s” for commercial practitioners…

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Commercial Maximum Exposure

There is a new option for commercial agents around the country. Besides CoStar and LoopNet, there is now Xceligent and CommercialSearch.com, research and marketing affiliated with the National Association of REALTORS®.


REALTORS® Property Resource (RPR) Notes

  • New leasing search…
  • Public property reports…
  • Analysis research for commercial practitioners…
  • Free to NAR members…
  • This is unique and unknown to most of us.
  • Pinpointing the perfect location for clients just got more accurate!
  • RPR Commercial confirms the advice that I give my clients.
  • It’s great backup data clients can touch and feel.

Find out more about RPR here.


Commercial Economic Report Session Notes

  • Record high net worth is at the highest income levels due to stock market record levels.
  • Middle class is hurting still as real estate values are down and little is invested in securities.
  • Some chance of inflation ahead.
  • The lesson is to diversify!
  • Federal debt is at record levels.
  • We have a sluggish economy. Little to no consumer confidence!
  • U.S. productivity growth is the lowest ever. Just 1% now.
  • People are resistant to spend.
  • Cash is king!
  • Housing market recovery and no recession forecast.
  • Commercial real estate sales up 27% year-to-year.
  • Prices rising but industrial is slowest.
  • Cap rates versus 10-year treasury is a huge gap. This is for over $2 million dollar properties.
  • Under $1 million dollar properties are moving at a snail’s pace. Prices at lower range sluggish or non-existent recovery.
  • Money is coming from local banks not nationals.
  • Vacancy rates are falling. Rents are rising! Apartment owners are in good shape now.

Angry REALTORS®

While a bit frustrating to wait until the expo opened, the booths were ready and the agents packed the house. One of the largest booths belongs to Bank of America. It was roped off to look like a private party.

The commercial block was active with available services and networking.

Jeff Wallack is Commercial Director of RE/MAX Excalibur where he is establishing a commercial division and team representing clients who own commercial real estate investments for sale, assisting in investment purchases, and leasing on behalf of building owners and tenants.

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