Browse Tag: realtor

Commercial Real Estate News Roundup For June 15, 2015

General

 

Office

 

Industrial

 

Retail

  • Malls Are Adapting, Not Dying, BISNOW, June 9, 2015 – Vacancies flattened in 2014 while at least some shoppers tend to prefer brick and mortar.

 

Multifamily

  • The Top 10 Multi-Family Markets, Commercial Property Executive, June 10, 2015 – Southern states dominate growth in multi-family building’s construction.

It’s All About.me

It was likely an accident but I may have learned a thing or two on my most recent trip to Las Vegas.  Strolling along from the roulette table to the virtual roulette table, then the ATM, I stumbled upon the 2013 Prudential HIT PLAY Convention being held at Caesar’s Palace. Realizing this is why NAR sent me here it was time to get to work and maybe attend a session or two.

Fidgeting through the program I noticed Terry Watson was holding his session called: Avoiding Road kill – Top 10 Stupid Things That Really Smart REALTORS® Do To Mess Up Their Lives™.  An active speaker on the NAR circuit, Terry is also an instructor for many NAR courses so I made a point to check it out.

A few subjects came up which should not be overlooked by our members, so I decided to share them below.

As a REALTOR® you need to:

1)      Look at yourself as a BRAND-   License your name. Yup, license then protect it. REALTORS® need to realize that their name is a brand. Protect the brand – look up every single photo of yourself on Facebook, including those in which you have been “tagged”. Look into getting reputation management and start a Yelp account in your name before someone else does.

2)      Get some Klout – Many of you may know about Klout, but did you know they have recently partnered with Bing and will now show your Klout score next to your name?  Klout has been touted as an online credit report on how much influence you have in the social media world. As unfair as this may seem to some there are fairly easy ways to raise your score. Getting interactions on twitter and Facebook and posting things that will get forwarded are two of the tips offered to raise your score.  Think grumpy cat.

 

vitameatavegamin
vitameatavegamin (Photo credit: Sara_Coffey)

3)      Take care of yourself- Are you sick, stressed or tired? No, I am not selling you on a cure all pill or the latest in exercise equipment with assembly required, but I did want to share some of Terry’s suggestions- look at what you take in and do not allowing food sensitivities to control how you feel day to day. If affected, look into the food sensitivity test Alcat, watch documentaries on food production such as fork over knives, and read books such as Wheat Belly.

4)      Create an About.me account – What is About.me? About.me provides free personalized pages on the web where you link all of your social media and contact information in one clean platform- an online business card.  Terry seems to have found out about this site the same way I did –from Nobu Hata, NAR’s Director of Digital Engagement, and checking out his page here.

If you want to learn more about Terry Watson’s programs check out his website at www.terrywatson.com .

 

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Why Establish A Commercial Overlay Board?

NAR Commercial Logo

A recent post here at The Source talked about how to establish a new Commercial Overlay Board connected with your local REALTOR association.  By way of quick review: establishing a COB is the way a local REALTOR® association expresses a specialty in commercial real estate, creating an organization and resources geared away from residential practice and toward the very broad and complex world of commercial practice.

That post generated a good question from Tucson’s Barbi Reuter, Principal / Broker at C&W PICOR, who asked:

This is a good outline of the ‘how’ – I’d love to see the ‘why.’ Could you help us understand the added value a COB can offer the commercial real estate community over organizations and services already in place? Perhaps a follow up post. Thank you!

Follow up we will!

What Does Establishing A Commercial Overlay Board Achieve?

1.  COBs improve the education of residential practitioners. In secondary and tertiary markets, the following scenario is quite common: a residential professional finds herself representing a commercial property by default. A small-town family business property owned by a homebuyer client, for example, might fall to her to represent and move. An owner-occupied commercial property can seem very similar to a resident-occupied home in market-making terms. In both areas, the broker needs to advertise, to show, to negotiate and to close.  But the differences are stark, and risk of legal entanglements and malpractice rises sharply when residential practitioners inherit commercial deals.   The COB is there to offer education programs, seminars, and courses to keep members current on vital issues, better able to serve the public, and meet state-mandated continuing education license requirements.

2. COBs provide dispute resolution. A COB provides the body of commercial practitioner peers needed to enforce the Code of Ethics and Standards of Practice of the National Association of REALTORS®, and to administer mediation and arbitration as they relate to commercial transactions.  By design, various COB committees are active in this regard. Typical meeting agendas of a COB’s Membership Policy and Board Jurisdiction Committee include resolution of name and territory disputes between member associations with due process hearings.   Multi-state arbitration issues are also handled, as is the implementation of Article 14 of NAR’s Code Of Ethics.

3.  Separate identity.  A COB is a free-standing, self-governing, self-sustaining association of REALTORS®. This is opposed to a CS  (Commercial Structure) which  is a commercial group within an already existing parent association and may be allowed representation on the parent Board of Directors. For example, COBs are assigned a separate NRDS (National REALTOR®  Database System) identification number and are represented on the NAR Board of Directors, whereas CSs do not have a separate identity and are represented through their parent association.  This distinction can be valuable when local associations are facing sweeping changes in commercial property markets that demand a professional identity dedicated to and focused exclusively upon the commercial practice be established.

Creating a Commercial Overlay Board gains these and many other things.  For a full listing, NAR members with an NRDS login can check out The Commercial Overlay Board Guide.

 

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