In short, it means that you are being represented by a commercial real estate brokerage made up of a team that trusts each other. Some believe a team is a group of people who simply work together. Unless trust is present within that group, you do not have a team. Let me explain what is meant by “no door” policy.
This is not a topic we tend to talk a lot about so I thought it was important to reveal to you here how we really think. We eat, breath and sleep commercial real estate. In order to be successful in this business I need to believe sincerely in the benefits and rewards of investing in commercial real estate. This is one area that we do not fully practice what we preach.
This is a great day for ICR, its employees and agents. It’s also a great day for Saskatchewan and the owners and tenants in the real estate industry. We are pleased to announce a new partnership. ICR developed over its 22 year history a unique operating model for a Commercial Real estate company. The company operates in a world of multi-nationals and competes at the top level in the Real Estate Arena.
Scary commercial real estate stories to you could be finding out a deal has crashed on the day it’s supposed to close or going back to the days of 10% commercial mortgage rates!
Here are real life events that happened to me which I thought would be appropriate to share as we approach this spooky time of year. Two stories that sent chills down my spine!
We have clients requesting commercial real estate advice on a daily basis. It is also necessary to make personal investment decisions to achieve our own long term financial goals. Here are three examples that come to mind where I was found to be “off the mark!”
Vacancy rates are relatively stable and absorption continues to be positive in Saskatoon’s leasing markets. ICR has recently completed a yearend wrap which includes a forward look into 2014 for our office, retail and industrial sectors.
There has been a distinct move to suburban office demand with 126,100 sq.ft absorbed in 2013. Vacancy in downtown Class A increased dramatically as several larger tenants moved out of the core, leaving an overall downtown vacancy rate of 4.83% up from 3.53% at the end of 2012.
It was a great year for both sale and lease transactions as Stuart Commercial achieved a best ever year to date. We came in a tight second place overall for the province in 2013 sales for ICR agents. Our number of transactions totaled a new high of deals in total.
Although we saw an increase in the the total volume of deals, the average amount per transaction was down. This was indicative of the industry this year. While the Saskatchewan economy continues to hum along, there were not as many large lease and sale transactions.
With momentum and continued enthusiasm, we are looking forward to what 2014 will hold for the Saskatchewan market.
Posted by Barry Stuart