Real Estate industry

Real Estate industry

Differences between regional and national commercial real estate broker

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.

Let’s look at the current differences between a national and an independent regional commercial real estate broker.

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Real Estate industry

10 questions to ask yourself before considering a career in commercial real estate

You may be in your last year of university and considering your career options or, have just come to the realization that your current professional path is not going to be your lifework.

The idea of a career in commercial real estate sales is appealing. What’s your next step?

Talk to a few different Brokers. There can be significant differences between commercial real estate companies.

It’s beneficial to gain the perspective of more than one Broker to determine if the career is right for you.

If you decide to move forward, you’ll have a good sense of which company you would prefer to work for and the process they go through to decide who and when they hire.

Here are some questions to raise during the interview process.

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Real Estate industry

Why you need to engage a Broker to lease your space

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).

In many cases the conversation ends there.

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Real Estate industry

A need for Real Estate regulation changes

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.

So what’s this ongoing problem I’m referring to?

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Real Estate industry

Sales: A noble profession

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.

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Real Estate industry

Where are all the female commercial real estate agents?

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.

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Real Estate industry

The driving force of a corporation

As we begin 2018, it’s an opportune time to ponder our priorities for the coming year.

We know that a leader’s most important job is designing and implementing strategies so the organization flourishes in the long term.

There’s a quote from an unknown author I like to share, “Change has never happened this fast before, and it will never be this slow again”

So with change happening that rapidly, how does a leader prioritize those strategies?

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Real Estate industry

Inside Anatomy of a Commercial Real Estate Brokerage

On Friday our Saskatoon ICR crew travelled to Regina to experience the shiny new Mosaic Stadium and support our Rider’s 37 -12 defeat of the Alouettes.

Although not the point of this story, I have to say it’s an impressive facility, one that this province can be proud of.

On our way to the game we stopped in to hook up with our Regina group and tour their new offices.

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Real Estate industry

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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Real Estate industry

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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