If you’d have asked me a few years ago about the long-term fate of the independent commercial real estate broker, I would have honestly expressed some uncertainty (you may be thinking, “but Barry, you are an independent commercial real estate broker… that means you would have been questioning your own survival!).
Most of that
uncertainty arose from questioning the independent broker’s ability to keep
pace with potential investment required in metadata.
at the current differences between a national and an independent regional
commercial real estate broker.
From time to time we will receive a floor call from an individual asking one question: how do we charge brokerage fees to lease space.
I explain that our typical fee would be calculated based on five percent of the total net rental amount over first five years of the lease term and, if applicable, three percent on the balance (plus taxes).
We found ourselves in the middle of a difficult situation this week.
Unfortunately, we have encountered problems similar to this in the past.
My Business Manager received a call from an individual who is purchasing a multi-tenant commercial property. We are the Listing Broker and this Buyer is represented by an Agent from another brokerage firm.
The Buyer was very frustrated with their Agent and wanted to know how they could proceed without him.
A profitable business enterprise relies upon the successful sale of a product and/or service. How that transaction takes place is changing in many corporations. There are instances where it’s becoming increasingly easier to complete the necessary research, shop for the most favorable price and terms, and make the purchase on-line.
There will however always be a place in complex transactions for a professional salesperson.
I ask this question because I believe women bring great value to our profession.
It’s difficult to locate the current ratio of female/male licensed real estate agents in Canada.
A quick look at Saskatoon, SK as an example; of the 60 individuals who work full time in commercial real estate sales as licensed agents, 13 per cent are female.
Compare that to the 2017 NAR (U.S. based National Association of Realtors) Member Profile (which is made up primarily of residential agents) that states sixty-three per cent of members are female, that’s two thirds of all agents.
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.
Accountability 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.
A 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.
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.
As 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.