Note to all Brokerage and Property Management clients and tenants

ICR Strategy RE: COVID-19

As the impact of COVID-19 is felt across this country and continues to evolve, we want you to know that ICR’s Emergency Response Team is focusing on prevention strategies, ensuring appropriate responses as the situation develops. The current risk to the individual may appear to be low, however the risk to society is immeasurable. We are discussing preventative measures to limit the exposure of our staff to the virus and business continuity plans.

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3 ways a Buyer’s Broker is a no brainer

Did you know when you’re buying or leasing that you can engage a commercial broker to search listings, organize viewings, and write offers, among other duties, for the low cost of… ZERO?

This relationship is referred to as a Buyer’s broker and as the name suggests, they work for you and you alone.

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Why the vast difference between insurance, appraised and assessment Values?

This question that was asked of me yesterday triggered the notion that there was a need to write about it.

Each of these three valuation processes have different end goals. It’s important to understand which value can be relied upon to represent fair market value.

When either a real estate broker or accredited appraiser is gathering information to determine a value, neither the insurance nor assessed tax values are taken into consideration.

It’s not what everyone wants to hear. If you’re hoping for a high value, you’re more likely to quote the number stated on your insurance policy. Let me explain.

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Is there mega concern for megatrends?

Megatrends are often described as powerful and transformational forces that can change economy, business and society over the course of centuries.

Obvious examples of this would be the use of electricity, the creation of the automobile and in the most recent past, the adoption of the Internet.

We follow quarterly and annual trends in our markets, but what are some of the megatrends being predicted for our economy as they may affect commercial real estate specifically?

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How risky is your investing appetite?

Commercial real estate investing is all about how hungry you are for specific product types.

This desire will, in many ways, be fuelled by your aversion to risk.

How much risk do you think you can chew?

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Would you recommend your CRE broker?

I think it’s fair to say that we don’t recommend people and their services if we don’t like them.

The problem, however, is that often liking someone can hinder us from really considering if you’d recommend them.

Confused? Consider the following…

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Is open office right for your business?

There is definitely a trend in the commercial real estate industry to open office concepts.

There are a number of reasons why it works for some office users, but it may not make sense for everyone.

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What does 2020 have in store for the commercial real estate market?

I’ve never professed to be a psychic, but I think looking over the trends of the past year I can safely make a few bets on the commercial real estate market for Saskatoon in 2020.

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Saskatoon property owners face tax increase, commercial owners’ shoulder greatest burden

The City of Saskatoon has tabled their epic discussion on a two-year budget for 2020/2021.

While the preliminary budget released this summer projected a 3.97 per cent property tax increase overall, we can all breathe a sigh of relief because it will only be 3.7 per cent.

Wait, what the heck?! That’s still a lot!

This is not good news for anyone, especially commercial property owners who already carry a greater tax load than their residential counterparts.

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Agreement for Sale vs Vendor Takeback: which is really better?

With commercial mortgage rates at historic lows and good availability of funds, we don’t find occasion where these alternative finance options are often used.

There are however times when an alternative strategy is required for the buyer to fund the deal.

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