December 04, 2018
Congratulations, you successfully signed up a new listing, now you have to perform and sell the listing. If you are looking to perform quickly, to the best of your abilities, and acting in the best interest of your client you should be open to cooperating with other brokers. This can have some drawbacks, as brokers have overlapping clients, but overall the more people working on a listing the greater the chances the deal turns into a transaction and closes. Also, half of a commission is better than no commission. In today’s market buyers are coming from all over the place, not just other states but outside the country as well. In order to reach more buyers and increase leverage as a seller’s agent you have to reach a large audience and create buyer demand.
Here are our Top 10 Suggestions for Selling Commercial Real Estate: Continue reading Top 10 Suggestions for Selling Commercial Property
November 14, 2018
Ordinance and law coverage (O&L), might be one of the single most important coverages a building owner can have in their commercial insurance portfolio, and surprisingly, most have never heard of it. O&L coverage provides for the loss caused by enforcement of city ordinances as they relate to buildings after a loss.
The coverage comes in three parts, referred to as either part A, B, or C:
- Loss to the undamaged portion of the building
- Demolition cost
- Increased cost of construction
Continue reading Ordinance and Law Coverage and its importance to commercial building owners
November 13, 2018
Marketing commercial real estate listings in the U.S. through third-party platforms first began with Black’s Guide in 1976, a catalog containing CRE listings in major metropolitan markets. LoopNet and Costar are credited for bringing CRE listings online.
Over the years a few CRE listing platforms have come and gone, but online listing platforms have remained fragmented and adverse to cooperation with each other.
The lack of cooperation between CRE listing platforms forces agents to either manually enter their listings into multiple platforms, or more likely pick one platform and hope for the best. This resulted in a tremendous amount of time wasted. Continue reading Establishing the New Norm for Marketing CRE Listings
LD: What career path did you want to take when you were in college?
VB: I knew I wanted to be an entrepreneur and start a business some day (it was the heyday of Internet 1.0 after all!), however, there was no particular industry that grabbed my attention. I was just attracted to the idea of “doing deals”, creating something, and learning a lot. As a result, I decided to focus on investment banking or law so that I could get exposure to transactions and different industries, and ultimately elected to go to law school.
LD: What events in your career path brought you to your current position as CEO of Arbor Lodging Partners?
VB: Prior to starting Arbor Lodging, I was a real estate and private equity attorney with large law firms in New York. I worked with very talented colleagues and driven clients while getting exposure to complicated transactions, but that side of the business was not for me. Continue reading Spotlight Interview: Vamsi Bonthala, CEO Arbor Lodging Partners
November 05, 2018
Utilizing technology is a great way to improve your workflows and the level of service you can provide for your clients. Whether you are generating content for marketing purposes, generating leads, or just managing your business activities, here are 5 great tools to help you make more commercial real estate deals.
- Microsoft OneDrive
OneDrive integrates with Microsoft Office, so users can easily access Word, Excel and PowerPoint documents anywhere through the cloud. The system allows users to simultaneously edit documents and create and share folders. Need to share property photos that are too big for email? Share a link to the folder using OneDrive! It is a great way for you to manage your property content between your smartphone and your computer. Continue reading Top apps for Commercial Real Estate Agents
October 24, 2018
Contributing Author: Sean Lyons
An in-depth analysis of the private student housing market at University of North Carolina conducted by Triad Real Estate Partners. Triad Real Estate Partners concentrates in private student housing and multi-family real estate brokerage. Triad Real Estate Partners’ research team compiles in-depth student housing market research reports on leading Universities in the United States.
Total Enrollment: UP 0.33%
Total enrollment at University of North Carolina’s flagship campus in Chapel Hill during the fall 2018 semester is a school record 30,011. Enrollment had been flat for a period of 5 years between 2010 and 2015, hovering in the low 29,000’s, before achieving three consecutive record fall semesters in the years since.
Freshman Enrollment: DOWN 0.69%
First-time freshman enrollment declined for the first time since fall 2012, decreasing by a total of 30 students. Continue reading University of North Carolina Student Housing Report 2018-19
Contributing Author: Sean O’Shea
Black Swans…Fed rate raise…Recession Fears…4% GDP Hopes…Impact of Federal Deficits…Credible realty…
We often state, in an initial conversation with a prospective Client, while these Net leased assets (NNN) are now viewed as a convenient solution, which limits the management and operations responsibility for a Landlord/Investor, “Not all net NNN leased properties are the same.”
In the last ten years, these NNN assets have become ‘commoditized’. Many seasoned investors, particularly 1031 Exchange Buyers, who have a tight 45 day timeline in which to make a multi-million dollar decision to defer their substantial capital gain and secure a safe, predictable income stream imagine that you go to a Commercial Real Estate Listing Platform, like Crexi, Brevitas, Loopnet, or Leavitt Digital (LDCRE) to identify and secure their trade replacement solutions. There has, also, been a proliferation of nominal “Investment Sales Broker”, as well. Continue reading How do NNN assets address your concerns?
October 17, 2018
Contributing Author: Mark Rogina, CPCU / Wirtz Insurance Agency, Inc.
You’ve just purchased a new piece of commercial real estate. When it comes time to insure it, your insurance agent provides you with a commercial insurance quote in which the building replacement value is much higher than you actually paid for it. Since you invested a lesser amount into it, why would you insure it for more? You only want to be covered for what you actually paid for the piece of property.
Unfortunately, this is a scenario that plays out all too often. The market value of property ends up being far less than what it actually might cost to rebuild the building from the ground up. To understand this fully, it is important to define some key terms:
Market Value – the cost to purchase a property
Replacement Cost – the cost to rebuild a property using today’s construction methods and materials Continue reading Insuring to “Value” & Coinsurance Clause
October 10, 2018
Contributing Author: Chris Cunningham
It’s that time of year again. Summer went by too fast, winter is approaching too soon, and you need to know what should be done to prepare commercial properties for the coming months of cold weather.
You want to protect your investment from damaging freezing cold temperatures and snowfall. Before any threat of Frost, sprinkler systems should be blown out professionally to prevent any stagnant water left in the pipes from freezing and cracking pipes. If you skip this step you will be spending big bucks for repairs in the spring. Continue reading Winterizing Commercial Properties
September 19, 2018
Contributing Author: Michael McGovern
An enormous amount of concern goes into the decision to purchase and renovate multi-unit property and therefore becoming a landlord. Additionally, providing pro-active property management and the necessity of being on call can affect all aspects of life yet the rewards of creating quality housing while realizing a generous financial return can provide quite a benefit offsetting these demands.
Before agreeing to accept this business model and lifestyle it is critical to fully understand the process, therefore increasing the odds of having a financially and personally rewarding experience. It is also of great value to work with an experienced, licensed Real Estate Broker who can assist with the entire process from site selection to document review. Continue reading Things to Consider when Purchasing a Multi-Unit Commercial Property