If you service the commercial real estate industry, like me, then you probably read the National Real Estate Investor magazine, or view their online publication at NREIOnline. If you don’t, I would highly recommend this become part of your monthly required reading list.
The news shared is valuable to investors, banks, mortgage brokers, property managers, title companies, tax assessors and yet, commercial real estate brokers.
This month’s edition shared several key stories, which have a direct impact on the commercial real estate broker, and your ability to find, win and fulfill new business opportunities. I have highlighted some of these for you.
Here are just a few nuggets for your brokerage pursuits, as reported in the September issue of National Real Estate Investor:
Investor Group Tiger 21 reports it’s high net worth clients’ exposure to real estate made up 33% of their allocations in the second quarter of 2017. 33! Cheese and crackers! Think about this regarding how you address your clients and where their real estate asset allocations are segmented. Leverage this as your communication and education of the current market and identification of investment opportunities other than private and public equities, bonds and cash.
Suburban multifamily and office buildings posted stronger year-over-year rent growth in the first quarter than assets in Central Business Districts, according to CoStar. In fact, in the multifamily sector the growth was over twice as much (2.6% to 1.2%). Multi-family assets remain an attractive investment allocation – and for those in suburban markets, use this data point to boost your property listings or get those hesitant buyers of the fence.
Top cities for projected job growth over the next 2 years are New York and Dallas (according to Moody’s Analytics). Followed by LA, Atlanta, Chicago, Phoenix and D.C. Job growth suggests stabilization and security. Find out where your city ranks and use this in your brokerage pursuits.
Bank branches are the next goldmine for investors. With the projected closings of 100’s of bank locations nationwide, these prime locations are great sites for restaurants, dry cleaners, law firms, medical practices, coffee houses and the like. Start exploring all the bank branches in your community, find out which locations are targeted for closing and proactively find investors and/or tenants to take advantage of this change in the consumer banking industry.
Are you looking more opportunities to leverage your brokerage practice? Join Rod Santomassimo on October 5th at 1:00pm EST for our next FREE Master Class – ’11 Secrets to Maximize Commissions in Q4 2017′. As this year draws to a close, learn to position yourself for maximum commissions, plus get a free copy of Rod’s new book – ‘Building Wealth Beyond the Commission’! Limited seats are available, to register for yours today CLICK HERE.