Will the Commercial Real Estate Broker become extinct?

With the pace of technological change now accelerating, it is not reasonably possible for businesses to plan farther than five years into the future.

We like to think we know, however, the change that is coming upon us is so rapid that no one has a clear picture of where we’ll be in ten years.

I see three evolving trends which will translate into opportunities for the savvy commercial real estate broker.

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What no one tells you about a career in CRE

Our work life occupies a significant portion of our waking hours. It’s important to choose a career that will offer both challenge and fulfillment.

I encourage those I meet to talk to as many people currently in our business as possible, including competing brokers and owners. Gaining a diversified perspective will provide greater clarity for those seeking guidance for their future.

Here’s the link to an earlier post which might be of interest to women considering our industry.

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Federal government introduces responsible new mortgage rule

On October 17th, the Liberal’s new mortgage rule requires that anyone applying for an insured mortgage must qualify at the Bank of Canada’s five-year fixed rate of 4.64 per cent.

I rarely write on matters that relate to residential real estate. I have however read some articles recently that don’t reflect the best interests of those yet to enter the housing market.

Having been concerned for some time about the number of young people drawing on the maximum mortgage amount they qualify for, at historically low rates, I feel compelled to offer my view.

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Hello, I am… Accountable

accountability-businessAccountability is defined as the fact or condition of being accountable; therefore, responsible. I think it’s a word that is thrown around without much consideration for the consequence of the potential expectation created.

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Salesman, saleswoman or salesperson?

Barry and KellyA few weeks ago, I was searching for a photo to accompany an earlier blog post. It didn’t surprise me, but it was a little disheartening to find that images of female real estate agents were hard to come by.

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3 Future #CommercialRealEstateTrends to Watch

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There have been many advancements over the past 20 years in commercial real estate technology that have changed the way I work. We are able to provide our clients with relevant data which allows them to make better informed business decisions whether they are buying, selling or leasing. We are going to see over the next 5 years, a giant leap forward in the way we do business with the potential for all parties to benefit if we stay open and adapt to these new opportunities.

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As Real Estate Brokers we are masters of our own destiny

multiple-offer-contracts1As self-governing, quasi-judicial bodies, we in organized real estate were charged with the responsibility to determine how the public will be served by our industry. This was not a responsibility that came easy.

It was only after local and provincial real estate boards and councils could convince authorities regulating us that we were in a better position than anyone else to educate and police ourselves. The Globe and Mail’s recent revelations regarding flipping or contract assigning against the B.C. real estate industry and the Real Estate Council of B.C.’s subsequent response to those allegations demonstrate that we have not taken that responsibility seriously.

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