Commercial Connections, Spring 2015: A Broader & Brighter Outlook

8/9/2019 Commercial Connections, Spring 2015: A Broader & Brighter Outlook

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THE LATEST Attend Hill visits are back and your voice matters! Join us for the 2015REALORS® Legislative Meetings and rade Expo, May 11-16th in Washington, D.C. Tere are many governance meetingsfor commercial members, as well as a special networking recep-tion just for you to meet your colleagues from across the country- and maybe even make a connection on a deal! For a detailedschedule and to register, go to Realtor.org/Midyear.

DiscoverOn pages 10-11 you’ll find a special section highlighting the re-sources, services and benefits that Commercial practitioners canaccess and utilize, provided as part of your NAR membershipIf you have specific questions, or would like NAR to help your

local board develop or strengthen local Commercial Memberservices, please contact Shara Varner at [email protected].

LearnIn March, NAR launched a new NAR/United States Pavilionat MIPIM, an international commercial real estate eventin France. NAR, local association partners from MiamiBirmingham, and Illinois, as well as the CCIM Instituteshowcased the opportunity for real estate investment in U.Smarkets - and the expertise of our members.

Find highlights at Realtor.org/MIPIM.

Participate Te NAR REach® Class of 2015 will launch later this monthalong with your opportunity to get involved as part of the pro-gram’s Insight Panel. Your commercial practitioner perspective isneeded to help shape the tools and products of these companies.Stay tuned to communications from NAR – and if you are attend-ing the May meetings in D.C., be sure to visit the rade Expo andmeet the companies selected. Visit narreach.com to learn more.

Update When was the last time you changed the batteries in your smokedetectors at home? ake the time now to do so and also take 5minutes to update your NRDS Member profile with your con-tact information and “Fields of Business,” which helps us ensureyou get the information best applicable to your specialty. VisiRealtor.org and click on My Account to access your NRDS pro-file to make changes. Need help? Contact your local board [email protected].

CONNECIONSCOMMERCIAL

NAR PRESIDEN

Chris Polychron, GRI, CIPS, CRSHot Springs, AR

NAR COMMERCIAL LIAISON

Daniel E. Sight, CCIM, SIOR Leawood, KS

COMMERCIAL COMMI EE CHAIR

Steven Moreira, CCIM, CIPS, GREENLongwood, FL

CHIEF EXECU IVE OFFICER

Dale A. Stinton, CAE, CMA, CPA, RCE

SENIOR VICE PRESIDEN

COMMERCIAL & GLOBAL S ERVICES

Janet Branton, CAE, CIPS

V ICE PRESIDEN

COMMERCIAL & GLOBAL S ERVICES

Jan Hope, RCE, CIPS

DEVELOPMEN

& SERVICES DIREC OR

Jean Maday, RCE

MARKEING &

COMMUNICAIONS MANAGER

Lauren Van Holten

RESEARCH DIREC OR George Ratiu

DEVELOPMEN & SERVICES COORDINAOR

Shara Varner

L E G I S L A I V E P O L I C Y R E P R E S E N A I V E

Erin Stackley

REGULA ORY POLICY REPRESN A IVE

Stephanie Spear

PRIN ED BY

Omega Printing, Inc. An Inc. 500 and NAPL Hall of Fame Company

www.omegaprinting.com

Realtor.org/Commercial


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COMMERCIAL CONNECIONS

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N AR V IEWP O IN T

By far, one of my favorite moments from last year’sannual conference in New Orleans was an event faraway from the hustle and bustle of the French Quarter.I was standing outside of the legendary Dew Drop Innon LaSalle Street, located in Uptown. From the 1940sthrough the 60s, the Dew Drop was a nationally-known music venue. It’s been closed for decades. Tatnight, it was the focus of our “Better Block” event.

“Better Block” is a program that seeks to revitalizecommercial downtowns through communitycollaboration. Tese aren’t events with huge fanfares.Tey use pop-up stores, food vendors, and music toshow local leaders what an area can look like with alittle effort. In the grand scheme of things, one single

business can have an impact that will last for years.

Tis is why commercial policy is a cornerstone ofNAR’s advocacy agenda. We enjoy the benefits of thesepolicies every time we visit a small business or enjoy anafternoon in a bustling neighborhood.

Troughout the year, I will be working with our NARstaff and members of the Commercial Legislationand Regulatory Advisory Board to keep commerciallegislation at the forefront of the discussion in

Congress. Whether it’s trying to thaw out the freezein our credit markets or keeping on top of changesto bank capital standards, we need to protect andenhance the flow of capital to commercial real estate.More than $1.2 trillion in commercial real estate loans will come due over the next few years, and our nation’seconomy depends on it.

We will also continue to better understand how thesepolicies translate to the state and local levels. In a recensurvey of NAR members who use Section 1031 like-kind exchanges, we discovered some compelling facts.

Without the Sec. 1031 exchange framework, 37%of members believe their deals would definitely nothave happened. For deals that may have closed absentthe Sec. 1031 exchange framework, more than halfsurveyed indicated that project would have beensmaller than it was. Finally, commercial practitionersindicated that 50% of the value of real estate sold ortransferred was a direct result of Sec. 1031 exchanges With the average worth of these deals being over $21million, that’s $10 million of value as a direct result of

public policy. Tat sounds like good public policy tome. We need to defend it.

We have communicated our priorities directly toPresident Obama and we are active in a numberof coalitions that advocate for smart, sensiblecommercial policy. When we take our message directlyto lawmakers, they listen. We will continue to do this– and with your involvement, we can make our voiceeven louder and stronger. We plan on reaching themnot just in D.C., but in their home districts as well

making sure they can see the tangible effects in theirown backyards.

Tank you for all the work you do. Our nation’scommunities depend on it.

C H R IS PO L YC H R O N , G R I , C IPS , C R

A NOE

FROMHE PR ES ID EN BY CHRIS POLYCHRON, GRI , C IPS , CRS


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meetings for NAR members and other industry groupsto meet with their Members on the topic.

Commercial Lending While experts expect 2015 to continue on many ofthe same upward trajectories as 2014, there are four

areas with possible changes. Te first is through theFinancial Accounting Standards Board’s (FASB)proposed changes to lease accounting standards, partof a larger standards convergence effort between FASBand the International Accounting Standards Board(IASB), which began in 2006. Te final updated leaseaccounting standards are expected in late spring or earlysummer 2015, and will likely be similar to the FASB’scurrent dual model of lease accounting. NAR has beenlobbying on this issue for some time and participates

in a real-estate industry coalition which works withboth the SEC and Congress on the proposal.

Te second change is potential adjustments to theDodd-Frank Wall Street Reform and ConsumerProtection Act. Many of the enhanced bankingrequirements have now been in place for four years,but many legislators have vowed to scale back thoserequirements. Given that the 114th Congress has justbegun, it is unclear now exactly what those changes will look like, or how successful they will be. Tis is

an area to watch and NAR will continue to monitor itclosely for changes.

Te third area where change is expected is crowdfund-ing. Te Securities and Exchange Commission (SEC)anticipates finalizing its crowdfunding rules in Octo-ber 2015. Tese rules are the final part of the JumpstartOur Business Startups (JOBS) Act of 2012 to be en-acted. Te first draft of the rules were widely criticizedby both supporters and detractors of crowdfunding asa financing vehicle, so it will be interesting to see whatcomes out of the review process. Many states have al-ready enacted successful intrastate crowdfunding regu-lations. NAR monitored this issue as it has developedat the SEC and will continue to advocate for fair andconsumer-friendly rules this fall.

Te fourth is the expected wave of CMBS backed loanscoming due. Experts are of mixed opinion on this, as

it could create excellent opportunities for refinancingor create too much of a crunch on credit. NAR staffhave been watching this issue vigilantly and will keepmembers informed of any changes.

Net Neutrality “Net neutrality” requires that broadband networks befree of restrictions on content, sites, or platforms; theyshould not restrict the equipment that may be used with them, nor the modes of communication allowedon them. Finally, it ensures that communication is nounreasonably downgraded by other communicationstreams. As real estate business is increasinglyconducted online, through streaming videos, virtuatours, and voice-over-internet protocol, having qualityand reliable broadband networks is critical to NAR

members. As new technologies are adopted, this willno doubt only grow in importance.

NAR supports policies to ensure that broadbandproviders adhere to net neutral practices, and waspleased by the announcement of the FCC’s new rulesto protect net neutrality in February 2015. Tesenew rules prohibit “paid prioritization,” which wouldhave created a two-tiered internet putting manyNAR members and other small business owners ata competitive disadvantage. In the six months prior

to the announcement of the new rules, NAR sent sixletters to Congress in support of net neutrality, anda comment letter to the FCC on its Open Internetproposed rulemaking. As the FCC implements itsregulations, NAR will continue to monitor the issueto ensure that real estate content may be freely andefficiently distributed online.

o stay informed about action NAR is taking on behalfof its members and the real estate industry on these andother issues, visit www.REALOR.org/political-advocacyor email [email protected] directly to geconnected to the NAR Policy Representative monitoringa specific issue.


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AD VO C AC Y

2015 NARLEGISLAIVE

ANDREGULAORYPRIORIIES

Protecting the business operations of members isalways a priority for NAR. Tere are a number ofissues before Congress and the Federal Regulatory Agencies that could have a significant impact on thebusiness operations of real estate firms.

— Dodd-Frank Act Regulations (3% Cap on Feesand Points, RESPA/ILA Harmonization)

— echnology Issues (Data Privacy & Security,Copyright Protections, Net Neutrality,Patent Reform)

— Appraiser Independence Regulations

More than $1.2 trillion in commercial real estateloans will come due over the next few years, andmany of these deals will have trouble gettingfinancing. NAR supports consideration of legislationand regulations to protect and enhance the flow ofcapital to commercial real estate.

— Commercial Real Estate Liquidity— Basel III— Lease Accounting

Overly stringent lending standards have continued tolimit the availability of affordable mortgage financingfor credit worthy consumers. Federal policymakersare weighing a number of proposals aimed at creatinghealthier housing and mortgage markets. — Credit Availability

— GSE (Fannie Mae/Freddie Mac) Restructuring,Liquidity and Lending

— FHA Single-Family Mortgage Program— FHA Condominium Requirements

Te growing federal debt, weak economic recovery,and continued growth of tax complexity have kept taxreform near the top of the national agenda. Membersof Congress from both Houses and both parties haveexpressed a high level of interest in reforming thetax system, and President Obama has also expressedqualified support, especially for corporate or businesstax reform. Tis ongoing debate places a variety oftax laws, including those affecting commercial andresidential real estate, under increased scrutiny.

— 1031 Like-Kind Exchanges — Capital Gains — Mortgage Interest Deduction

— Mortgage Debt Cancellation ax Relief

BUSINESS OPERAIONS CREDI AND LENDING POLICIES

COMMERCIAL HOMEOWNERSHIP & REAL ESAEINVESMEN AX POLICIES

NAR has briefs on all issues being monitored bystaff via the Federal Issues racker atRealtor.org/political-advocacy/all-advocacy-issues.


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ENRICHMENT

PURSUE EDUCAION— Financial Analysis for Commercial

Investment Real Estate (CCIM)— Commercial Real Estate Negotiations

(CCIM)— Foundations for Success in Commercial

Real Estate (CCIM)— Communicating Across Cultures (IREM)— International Aspects of Real Estate (RLI)— Certified International Property Specialist

(NAR)

• Courses include Local Markets,Business ools as well as regionalcourses on Europe, Asia/Pacific andTe Americas

— At Home with Diversity (NAR)

AP INO INERNAIONALCHAPERS, ALLIANCES &ORGANIZAIONS— 84 NAR Global Alliances with real estate

associations around the world— 24 international chapters through NAR’scommercial affiliate organizations:

• 6 CCIM Chapters • 14 IREM Chapters • 4 SIOR Chapters— Tousands of economic development

organizations (chambers of commerce,industry groups, community development).SelectUSA.gov is an excellent resource

PU NAR’S REPORS & RESEARCHO USE— State-by-state international business reports— Dozens of field guides on international,

commercial real estate & investment— Quarterly reports on a variety of topics

including lending and local marketoutlooks

AEND EVENS— Local: attend mixers and networking events

occurring in your local market area — National: REALORS® Conference & Expo

CCIM Live, SIOR Fall World Conference,IREM Fall Leadership Conference,ICSC REcon, RLI Land Conference

— International: consider Expo REAL orMIPIM

ACCESS OOLS O HELP YOUBRIDGE GAPS

— Hire experts to gain exposure to newcultures (translators, country managers, localguides)

— ake your business applications mobile& to the cloud: start using smartercommunication & organizationalapplications

5 WAYS OBROADEN

YO URHORIZONSCONNECT WITH WHERE YOUR CLIENTS COME FROM &

W H ER E YO U R B U S I N ESS I S T AK I N G YO U

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5

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SP EC IAL MEMB ER B EN EFITS SEC TIO N

ADVOCACY www.realtor.org/political-advocacy Federal Level: • 2015 Public Policy Priorities • Federal Issues racker • Commercial Issues & Actions • Washington Report

State & Local Levels: • REALOR® Party Initiatives • RPAC • Broker Involvement Program

RESEARCHwww.realtor.org/commercial/research

• Commercial Real Estate Lending Survey Annual Report

• Commercial Real Estate Market Survey Quarterly Report• Commercial Real Estate Quarterly Outlook • Expectations in Market Realities Annual Report• State-by-State International Business Reports• Local Market Assessment Case Studies• REALOR® University Journal of the

Center for Real Estate Studies

EDUCAwww.realtor.org/com• Designations – ALC, C• Online & Classroom C• REALOR® University • Commercial Podcasts

PUBLIC& INFOwww.realtor.org/com

• Commercial Connectio• Te Source Commercia• Field Guides

• NAR Library –eBooks, Business Letter emplat

• REALOR® Magazine • NAR Weekly Report C

COMMERCI

AS A HANDY REFERENCE!

PULLOUT&KEEP


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ONduCRE, SIOR

ree

IONSAION

y Print Publication

diobooks,

coveragection

ECHNOLOGY www.realtor.org/commercial/tech• CommercialSearch™• REALORS® Property Resource (RPR)• Xceligent• realtor.com/International• NAR REach® echnology Accelerator Program Companies

REALORBENEFIS®PROGRAM www.realtor.org/programs/realtor-benefits-program

• Financial Services & Risk Management• Personal Insurance• Marketing Resources• Electronics & Mobile echnology • ravel & Automotive• echnology Services

L SERVICES A quick guide to your NAR membership


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R ESEAR C H

Why is 2015 expected to be a strong year forcommercial real estate?

As economic factors continue improving—employment, consumer confidence and spending,

business investments — commercial real estatefundamentals strengthen. Net absorption is expectedto increase across all property types in 2015, as demandfor commercial space grows. Completions of newcommercial spaces are also growing, but at a slowerpace than absorption, leading to declines in availabilityand rising rents. Te only exception to the rule comesin the apartment markets, where strong new supply isalready exerting downward pressure on rents.

As fundamentals ensure growing positive cash flows,

investors continue to find commercial assets attractive.Since the post-recession trough of 2009, investmentsales have posted higher volume with each subsequentyear and 2014 was no exception. Sales volume in2014 totaled $433 billion, according to Real Capital Analytics. Prices rose across the board, with apartmentand CBD office properties exceeding pre-recession

peaks. Moreover, in 2014 commercial lending foundnew vigor, as sources broadened and capital availabilityincreased. In light of these factors, 2015 should offercontinued advances in property prices, sales volumeand leasing activity.

What’s all the excitement about regardingsecondary and tertiary markets as a target forinstitutional investors?

Secondary and tertiary markets were much slower tosuccumb to the economic recession, and they were alsomuch slower to recover. Whereas for primary marketsthe commercial real estate rebound initiated in 2010for most secondary/tertiary markets the rebounddid not occur until 2013. Last year marked the first

year of sustained strong growth for secondary andtertiary markets, indicating broad-based improvemenin both economic and commercial real estate termsMoreover, due to their position, secondary and tertiarymarkets offer investors higher yields on commerciainvestments. As primary markets became crowded overthe past three years and available inventory shrank

RANSLAINGH E M AR KE OULOOK First quarter forecasts are typical in the business world, but relating those

predictions to the commercial real estate industry can be a challenge.

We solicited insight from George Ratiu, NAR’s Director of CommercialResearch, and members across the country for their take on why the outlook for

commercial real estate is looking so good from their point of view.


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R ESEAR C H

MEMB ER PERSPEC IV ES“We are seeing activity across all segments and classesincreasing significantly. Whereas ‘Best of Class A’ propertiesused to only be in a market of their own, commandingthe majority of the attention, we’re now seeing all assetcategories and property classes receiving significant activity.Tis is a collusive cycle with market activity driving newdevelopment, which in turn drives 1031 re-investment. Maintaining the 1031 tax deferment and reinvestmentstructure allowed under the current tax code is what keepsthe cycle flowing.”

JARED BOOH, CCIM, MBA Salt Lake City, Utah

“If the U.S. sustains current reduced oil prices, not only willit put an average of about $750 of additional spendablemoney in each household, an equal amount will be savedby households in the Northeast or Midwest, which benefit from less expensive heating oil. Tis translates to higherretail spending, more families taking that long overduevacation, etc. Downtowns are also hot! It’s not necessarilyoffice, and not just the 24-hour cities, such as NY, SF

and D.C., but Orlando and Charlotte that are seeingconstruction booms, which are in large part multi-family projects. Tis will spill over into additional demand forrestaurants, shopping, etc.”

LOU NIMKOFF, CCIM, CPM Winter Park, FL

“One of the most challenging issues facing commercialreal estate the last few years has been the lack of available funds for the purchase or refinancing of new projects. I

am encouraged to see that capital is now available fromlocal and regional banks for the purchase or refinancingof projects. I personally had three banks bidding on the financing for a purchase I was making. Of course, dealsneed a down payment and businesses need cash flow, butit is great news for us brokers and investors.”

DAN SIGH, CCIM, SIOR Leawood, KS

“Te industrial market in SE Wisconsin has been themost active I have experienced in over 15 years. Weare experiencing multiple industrial spec buildings indifferent submarkets, which is the first time in many yearsdue to the shortage of quality product. Our inventory ofquality industrial buildings is at an all-time shortage dueto the strong occupancy rates of leased properties and thelarge number of sales of existing buildings.”

SEPHEN PROVANCHERMilwaukee, WI


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R ESEAR C H

In fact, foreign investment in both residential andcommercial real estate in both the U.S. and Canada ischanging – and challenging – the market in dramatic ways. In the case of commercial real estate markets,foreign purchases of U.S. properties totaled $41 billionin 2014, according to a recent CBRE report, roughly

about 11% of all investment in U.S. property assets.

Small wonder. Te U.S., Germany, U.K., and Canadarank at the top of foreign investor lists for stabilityand security, according to the Association of ForeignInvestors in Real Estate (AFIRE), in its latest 2015survey of members. Switzerland ranks fifth.1

Improving economic conditions continue to be amotivating force in the investment decision as well And, once again, both the U.S. and Canada are viewedmost favorably.

Noting that international flows have been steadily

rising into the U.S. and Canada, the Richard J. Rosenthal Center for Real Estate Studies atREALOR® University undertook an extensive surveyto discover how practitioners on the ground in bothcountries experienced and perceived internationalinvestment trends in collaboration with the CanadianReal Estate Association, the CCIM Institute, Instituteof Real Estate Management (IREM) and the Nationa Association of REALORS®.

Survey results largely confirm the academic and

professional literature as well as media reportsInterestingly, of non-North American clients (non-Canadian or non-U.S.), distinct patterns emergethat differentiate international investment in thetwo countries. Non-U.S. international investmentin Canada is clearly dominated by Asian interests with nearly half (47 percent) of Canadian surveyrespondents indicating that their international clientsare from Asia. As noted in the Rosenthal Center report

CROSSBORDERINV ES MEN ACIVI Yby Peter C. Burley, CRE, Director, Richard J. Rosenthal Center for Real Estate Studies

Real estate investment has become a global enterprise. Both the U.S. and

Canada are on investment target lists for investors from all over the world.

Global transaction activity has soared in the last few years as capital seeks solid

returns, market growth and stability. Much of that activity is being directedtoward the North American markets.

1 Association of Foreign Investors in Real Estate, 2015

Source: Association of Foreign Investors in Real Estate, 2015

AFIRE SURVEY

MOS SABLE & SECURE COUNRIES

2015 2014

1. UNIED SAES 12. GERMANY 33. UNIED KINGDOM 54. CANADA 25. SWIZERLAND 4


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R ESEAR C H

substantial Asian clientele have been flowing into Western Canada, and practitioner responses reflect alarge volume of transactions originating from Asia. Asimilar trend has been emerging in the NorthwesternU.S., according to recent reports. About 40 percentof U.S. respondents reported that their internationalinvestors were from Asia.

Outside of Asian investment and U.S.-Canadainvestment, however, international investment in theU.S. appears to originate from a more diverse pool ofinternational interests (see chart). wenty percent of

U.S. respondents note investment originating in theMiddle East, 22.5 percent note investment originatingin Europe, and 21 percent report investment fromLatin America. In contrast, 18 percent of Canadianrespondents report investment from the Middle East,somewhat fewer than 17 percent report Europeaninvestment, and just 5 percent report Latin Americaninvestment in Canada. What these figures appear toreveal is the considerable breadth of global interest inthe U.S. as a destination for foreign investment capital.

Of course, it is important to note that the heaviestcross-border flows in commercial real estate continue tobe between the U.S. and Canada. Canadian investors,faced with somewhat more limited opportunities forinvestment in prime properties at home, find the U.S.market appealing for its size and variety. For instance,Canada accounted for as much as one-third of the

foreign capital invested in U.S. real estate in 2013according to a recent JLL report.2 In 2014, the JLLreport says, Canadian investment in U.S. marketsrose 70 percent over the prior year. Tat comes toroughly $9.7 billion in property market investmentsaccording to CBRE- with Canadian capital flowinginto U.S. office markets, multifamily residentialindustrial properties, and retail properties. Te top tenU.S. markets for Canadian investors were, in orderBoston, Manhattan, Phoenix, Houston, AtlantaChicago, Washington, Austin, Denver, and Orlando.3

Flows in the other direction are strongly positivealbeit a bit more subdued, as well. U.S. investors takeadvantage of dollar ($CDN) valuations in Canada andthe stability of the Canadian market for long-terminvestment. It is worth noting that Canada ranked5th in the Global Opportunity Index, published in2013 by the Milken Institute, for attracting foreigninvestment.4 As Bentall Kennedy noted that same year“Foreign investors have … an increasing… presence inthe Canadian market ... (acknowledging) the attractivequalities that make Canada a good place to invest.”5

For more on the Rosenthal J. Rosenthal Center for Real EstateStudies and the latest research report, Changing Dynamicand Practitioner Perspectives in the North American MarketCross Border Demand & Investment | Shifting Office SpacDemand, contact Peter at [email protected] .

WHAT PERCEN T

OF INTERNATIONAL

CLIENTS ARE FROM:

(MEAN OF THE PERCENTAGE)

CANADA UNITED STATES

2 JLL, “International Capital Sources-U.S. Inflows”, Winter 20143 Avison Young, Commercial Real Estate Investment Review: Canada, U.S.and U.K., Fall 2014

4 Te Milken Institute, Best-Performing Cities (http://www.best-cities.org ) 20135 Bentall Kennedy, Perspective on Real Estate | Canada, 2013

CONTINENTS

ASIA

EUROPE

LATIN AMERICA

MIDDLE EAST

OTHER


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B U SIN ESS TO O LS

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RRP is a parcel central database of over 160 millionproperties in the United States with a strong baseof public record data including mortgage, tax anddistressed property information, and layered withFEMA flood maps, demographic information, heatmaps and more. RPR is your benefit from NAR,already incorporated into your REALOR® dues, andis available to all REALORS® across the country.

WHA CAN RPR HELP ME DO?

— Determine where the right customers arefor a business.

— Using demographic, psychographic and spendingdata information, RPR helps you identify areas ofhigh concentrations of the customers your client islooking for. Research sites for business expansionbased on the selection of specific corporate culturalattributes.

— Find the best location for a business. — Help business owners find the best location based

on an analysis of spending data within a drive time,radius, or general area. Find the optimum site fora specific business type like restaurant, coffee orapparel shop, etc.

— Decide the best retail business for a location. — Determine what business would be appropriate

for a given location by examining spending data

and what business types are underserving the areaReceive results in a chart indicating which businesstypes are over and underrepresented in a specificarea.

WHA RPR OOLS HEL P ME?

— Powerful Tematic Maps

— View demographic information overlaid inyour defined area of interest, allowing you to seelocations of interest with the highest concentrationof the indicator. Select points of interest (POI) andexamine sales volume and number of employees forbusinesses.

— Comprehensive Reporting — Provide your client with the best reports in the

business in just a few minutes! Whether your clientis looking for a detailed trade area report, business

opportunities chart or a property report, you cancreate professional RPR Commercial reports thatare guaranteed to impress.

REALORS®PROPE R Y RE SO URCEA C O M M ER C I AL T O O L FO R YO U R B U S I N ESS

REALORS® Property Resource (RPR) provides you comprehensive market

data that saves time & money for REALORS® specializing in commercial

property sales & leasing.


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B U SIN ESS TO O LS

WHA ARE PEOPLE SAYING

ABOU RPR?

Here are just a few examples, go to myrpr.com to watch videos and read the full case studies from these andother REALORS®.

“In a rural area, it’s really hard to get data in a time wherethere are fewer sales and values are hard to ascertain. RPRhelps me by allowing me to drill down as far as I want.”

SYD MACHA, ALC, CCIM, CRE, Maryland

“It’s been very helpful to REALORS® when they’reworking with clients who are maybe looking to add alocation or are evaluating their current location. Tere’sa lot of demographic information that can be providedto the client to really help make their decision mucheasier, whether it’s looking at where their target audienceis, where the income levels are that would be required tosustain the business.”

SHARI VELDMAN, Association Executive,Commercial Association of REALORS® Michigan

“As a commercial practitioner, we typically don’t getinvolved with how to market our clients’ business. Withthe RPR report, I was able to stretch my competency toa point where I would be remiss by not giving my client

information about where they could also generate someadditional advertising in an area that was not obvious.But it was obvious through RPR.”

PAUL MARIS, SRES, Illinois

HOW DO I LEARN HOW O USE RPR?

Tere are a variety of convenient and customized waysfor you to learn more about how RPR can work foryou. You’ll find specific information about all RPRCommercial training resources at blog.narrpr.com/commercial.

— Live raining & Events— Classes and events in local markets throughout the

country. Go to blog.narrpr.com/training and clickon Live raining

— Webinars— Featuring a variety of topics, register and participate

remotely from your location. An “Introduction toRPR Commercial” is offered during the first weekof each month. Go to blog.narrpr.com/training andclick on Webinars.

— On Demand Videos— Self-paced lessons on a range of RPR topics including

how to get started, navigating the Commercial sideof RPR, and using RPR tools to help with yourinvestor clients. Go to blog.narrpr.com/learning

— Online Course at REALOR® University– with CE

— Learn how REALORS® can leverage the fulanalytical power of RPR in listings presentationsand buyer counseling sessions. Specific scriptsand step-by-step instructions on how to runthe seller’s report, property report, and market

activity report are included. Note: Tis is a broadcourse, with a slightly more residential focus. Acommercial version is in development for releasesoon. 3 hours of CE available in nearly every stateGo to www.learninglibrary.com/realtoruniversity


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Commercial Connections, Spring 2015: A Broader & Brighter Outlook

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