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Connectivity: A Driving Force in Selecting Commercial Space

In choosing commercial space, location still reigns as the prime consideration, but increasingly the facility’s connectivity is very high on the list as well. For tenants like tech startups in particular, having a connected workplace is paramount.

Reliable technology systems in the workplace have a major impact on efficiency and performance. It affects our ability to participate in everyday tasks like video conferencing, online collaboration, content production, and much more. Any downtime represents lost revenue.  Certainly any technology can fail, so provisions for that possibility are also a part of the well-connected workplace.

So what is a connected workspace, and how can you assure prospective tenants that your space will measure up?  Those questions have prompted a whole new type of building inspection and certification. Today we’ll take a look at the factors that are considered in evaluating connectivity in a commercial space and some ways to determine whether a given property meets the mark.

A groundbreaking company in this area is WiredScore, which evaluates and certifies commercial buildings based on their level of connectivity. They consider several aspects of the building’s systems for their clients, and provide certifications that assure prospective tenants that the space is tech ready and will support the work they need to do.

Variety of choices

For optimal connectivity, a building should have access to several different providers, so the client can select one that fits their needs and budget best.  Having these options means that the space is suitable to a wider range of companies.

Redundancy

It’s very important that downtime be minimized as much as possible. Backup and alternative connections should be in place that can be accessed from different devices. This may not ever come into use, but it’s a safeguard against lost time and business that most companies want to have.

Resiliency

A resilient system is well organized, with no temporary wiring. This makes it easier to troubleshoot, add components, or relocate equipment, which saves time and makes the workplace more adaptable.

Room for Expansion

Good connectivity takes into account future needs and includes adequate, secure space and infrastructure to accommodate additional equipment.

High-quality connections

Any workplace must have high-speed connections for both fiber and wireless devices. Companies rely heavily on Cloud storage, with more moving that direction every day, so bandwidth has to be adequate to accommodate transfer of large files.  A fast connection is also essential for quality performance in video conferencing, which is very commonly used across industries.

Meeting these connectivity requirements should get a commercial space on the short list for most companies, particularly if there is documentation of the ways that these requirements are met. Companies like Fiberlocator can provide useful information on telecom networks.

The wave of the future seems to be a comprehensive evaluation of the property like that offered at WiredScore. Their report and certification process clearly shows a building’s readiness for tech-heavy activities. This can be a deciding factor for many potential tenants who are looking for reliability and performance in building systems.

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Brokers: Encourage a Productive Workplace with These 6 Tips

You can walk into some workplaces and immediately feel a sense of industry and a productive vibe. These aren’t necessarily offices where everyone is hurrying around, speaking urgently, and looking a little frayed –quite the opposite. A really productive workplace is filled with people who are in a marathon, not a sprint.

Productivity depends on solid leadership, shared goals, and surroundings that facilitate the work. Productive employees are engaged, and they feel valued and heard. Creating the environment that helps them be their best means considering their priorities.

Comfort

One factor that has a profound effect on productivity is simply physical comfort. A workplace that is clean, well-lit, and nicely decorated sets employees up to do their best, and makes the best possible impression on clients.  Ensuring that the amount of space provided is adequate for the needs of the people that work there is important to productivity.

Light

Considerable research has shown that more natural light in a space (think big windows) has a significant impact on worker productivity, health, and feelings of well-being. It has a positive effect on mood, and can result in less absenteeism due to illness.

Amenities

Amenities can also increase engagement, which in turn makes the workplace more productive. It may seem counterintuitive, but a workplace that gives employees opportunities to socialize and move around in the course of the day is likely to see higher productivity. A comfortable lounge, nice kitchen space, or a rooftop deck can boost morale, and these are also great features for recruiting.

Transparency

In real estate, teams can work more productively when they operate transparently.  This means making information accessible to all concerned whenever possible. This increases productivity by drastically cutting the time that would otherwise be required for updating and tracking down details. The use of digital tools makes it easy for everyone to stay on track.

Tech infrastructure

In order to facilitate the use of those tools and other tech solutions, the workplace must have in place adequate infrastructure for technology. Fast, secure WiFi is a necessity. It enables work to proceed without tying workers to a desk.

Digital tools

As we’ve mentioned, digital tools are an excellent way to increase productivity. Still, like any approach, this must be done in a systematic way. The entire team should be using a system that’s compatible with other tools they use and that works across devices.  This helps everyone to stay up to date on progress at all times.

Using tools for listings, contact management and transactions that are housed in the Cloud eliminates the need for downloading, installing, and maintaining the software. This means that agents can spend time connecting with clients rather than troubleshooting.

Motivation and engagement are the drivers of employee productivity.  Getting buy-in from everyone is the starting point, and creating a pleasant workspace and inclusive, cooperative culture promotes higher performance. Recognizing successes and addressing the challenges that workers perceive are hallmarks of good management that keeps the firm moving in positive directions.

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7 Creative Uses for Once-Loved Strip Malls

Strung along the avenues of our childhoods, the strip mall has been a community fixture across the country for decades. Their popularity with owners was due to the fact that they were easier to manage and lease, and consumers loved them for their variety, convenience, and plentiful free parking.

Times have changed, and the conventional strip mall model doesn’t work like it used to. Many are struggling, with empty units and dwindling traffic. This is in part due to the economic downturn, which dealt a blow to retail in general. It’s also partially an effect of the growth of e-commerce. And maybe just as significant is the changing public preferences for shopping centers.

Pedestrians and the lifestyle center

What people want in a shopping center has expanded to include a place to congregate.  They still want the convenient businesses, like drug stores or groceries, but they’re also looking for a pleasant place to spend time. This spelled the end of stores fronted by yards and yards of asphalt.

Another important feature for this type of gathering place is food. A strip mall with one or two popular eateries can drive traffic for all of the tenants. Developers are paying close attention to details like door locations, sidewalks, landscaping, and clear windows –things that make the place more about people than cars.  

A second life

All of these new features can breathe life into fading strip malls, provided the location is still good. If the area is growing it can happen that renovation and a fresh approach bring consumers back. In some cases, it may be time for the property to be repurposed, and this is where creativity is really coming to bear.

Many sparsely leased strip malls are being renovated to accommodate community services, including branch libraries, spaces for non-profits, and classrooms for community colleges. These locations are made more attractive and walkable by converting parking lots to green spaces and outdoor gathering places.

Some examples of this mixed-use approach can be seen at Belmar in Lakewood, Colorado, and Mizner Park in Boca Raton, Florida. They feature a variety of options that go far beyond convenient shopping, to include apartment communities at Belmar, along with outdoor cafes, office space, and sidewalks.

In many cases, these repurposed strip malls can become the community centers that suburban areas lack. They take the role of a traditional downtown, creating a place to go for entertainment and relaxation as well as a gallon of milk or a new pair of running shoes. They respond to the growing preference for walkable spaces, and place less emphasis on cars.

The ways in which strip mall properties are being altered are based on psychology, according to Minneapolis developer Glen Markegard, who says:

“People are far more willing to walk past shop windows than blank walls. And people feel more comfortable walking by trees and buildings that come right up to the sidewalk, rather than on exposed pathways. If you've ever traversed a mall parking lot, you know that walking can seem like an eternity.”

Attracting traffic requires making people feel comfortable in the space and providing destinations for a variety of activities. Creative solutions for lonely strip malls include:

Public and private office space

Residential space

Plazas and outdoor gathering areas

People-friendly parking design

Popular dining choices

Classroom space

Health and wellness services

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Helpful Tips: ICSC RECon 2016

In just a few short weeks, more than 35,000 brokers, tenants, owners and developers from all over the world will descend on Las Vegas for the annual International Council of Shopping Center (ICSC) ReCon event.  As veteran attendees, we’ve compiled some tips to help you have the best experience.

Know the details beforehand. The convention runs for three days, features more than 20 educational sessions, brings together 200 exhibitors and over 1,000 companies in a 1 million square foot exhibit hall.  Take a look at your registration materials and your convention kit, including the Program, and keep them in a safe place.  These are your guides for the entire event and replacements are hard to come by once the convention starts.  We recommend mapping out your appointments and the locations of the vendors you’d like to speak with.

Schedule meetings in advance and plan accordingly.  RECon is the perfect opportunity to drum up new business, forge new relationships and/or enhance existing ones.  Take a look at the attendee list and schedule meetings in advance (don’t forget about the time change).  If your next appointment is at another booth, give yourself at least 30 minutes to make the trek to that location.  TRUST ME on that one.  Be sure to reconfirm your meetings too.

Plan for cocktail hours.  If your company is hosting a cocktail hour, be sure to extend the invitation to your clients.  If you get invited to other cocktail hours, attend the ones that provide the most value to you.  Don’t feel like you have to conduct business during cocktail hours.  Instead, schedule time to meet up the following day.  

Insoles! Flats! Chap Stick! Business Cards!  Over the course of the 3-day convention, you will likely walk miles and miles.  We’re not joking.  We recommend investing in a pair of insoles to help alleviate the pressure. Ladies, pack a pair of flats; you’ll thank us later!  Since you’ll be in the desert, Chap Stick is always a good idea.  And of course bring lots and lots of business cards, more than you think you might need.

Don’t go “print crazy.” Bring one, maybe two, copies of your marketing materials to show the people you’re meeting with, but don’t leave a copy with them. It might seem like you’d want to do the opposite, right?  WRONG.  Hard copies probably won’t make it back to their office, and it gives you a great reason follow-up with them afterwards.  

Badge. Badge. Badge. This may seem trivial, but believe me, you do not want to forget or lose your badge.  If you don’t have it on you at all times, you won’t be granted access to any of the convention functions.  Oh and if you lose it, the replacement fee is $150!

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What’s Fueling the Trend Toward Transit-Oriented Retail Locations

As the landscape seems to shift beneath the feet of retail, developers are finding innovative ways to bring consumers and retail together. An idea that is gathering momentum in many cities is what’s known as Transit-Oriented Development.

In order to put retail where the customers are, developers are targeting travel hubs, like airports or railway terminals. These locations can support retail as well as restaurants, boutiques, and professional services. In effect, many transit stations are being transformed into destinations, where people can shop, dine, socialize, and take care of business.

According to the TOD Institute, there are several factors driving this trend, including:

Rapidly growing, mind-numbing traffic congestion nation-wide

Growing distaste for suburbia and fry-pit strip development

Growing desire for quality urban lifestyle

Growing desire for more walkable lifestyles away from traffic

Changes in family structures: more singles, empty-nesters, etc

Growing national support for Smart Growth

New focus of Federal policy

The Institute touts a variety of benefits to this sort of development, for consumers as well as business and municipalities, including more transit use (and less traffic), higher property values, a healthier lifestyle and less tendency toward sprawl.

The Urban Land Institute also makes note of the trend, and emphasizes the importance of city rail systems. According to Senior Fellow Robert Dunphy,  "Transit Oriented Development as an approach to combat traffic congestion and protect the environment has caught on all across the country. The trick for real estate developers has always been identifying the hot transportation system. Today, highways are out; urban transit systems are in."

So transit-oriented retail is targeting the train rather than the highway. Increased concerns over traffic-choked commuting are encouraging many potential customers to head for the trains as well.

Demographic shifts are also contributing to the rise in TOD. The millennial generation shows a preference for living and working in urban centers. Less reliance on cars is a goal for many in this environmentally conscious demographic.

Another trend in transit-oriented retail is to incorporate businesses into this sort of destination-style transit hub. This enables people to make fewer trips.  The mixed-use environment is key.  In this way, the customer base extends beyond the commuter and includes neighborhood residents and others who can be attracted during the weekday and on nights and weekends.

There are examples of TOD appearing in nearly every major city. A large-scale example of transit-oriented retail development is at the World Trade Center station in New York. The station’s massive main hall recently opened after 12 years in construction. Plans include the incorporation of hundreds of retail outlets and dining, surrounding the busy terminal.  Washington DC’s NoMa station has recently seen $3 billion in new development, and light rail stations in Portland, OR have seen around $10 billion invested in TOD.

Transit-Oriented Retail is really a natural extension of the urbanization we’ve seen for the last decade. As transit improvements are made and use grows, the transit-oriented location will offer greater opportunities for retail.

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6 Best Practices for Securing Professional Office Space

More and more professional services firms are focusing on the needs of their employees rather than on what executives want when it come to the workplace.  This is a useful strategy for attracting and retaining top talent, and it’s changing the way that those firms choose office space.

The emphasis now is on the type of walkable urban locations that suit the taste of millennial employees, with less concern for the convenience of executives. This means a location that offers a mix of residential options, entertainment, dining, and access to transit.

The millennial mindset carries over into the interior, where employees want the flexibility to move around the work space in the course of the day, with areas designed for specific tasks rather than specific people. Dedicated space for team projects, flexible meeting options, and multi-use space provide the environment that attracts and retains top talent.  There are several key practices for firms to keep mind if they’re looking to secure this sort of space.

Consult the staff

Before the search begins, it's wise to survey workers as to what specific features they would like to see in a new space. They’ll point out some easy-to-accommodate needs that management probably never imagined, and this step also improves the likelihood that everyone will be happy with the new space.

Look for employee amenities

Keep in mind the preference for locations in the urban center. Employees prefer to work where they live, and not face a major commute every day. Popular amenities include informal work spaces, like lounges, large kitchens, or outdoor spaces.  Parking is another important factor; if it’s insufficient this is not the space for your firm.

Layout

The best floor plan facilitates a firm’s way of working, so consider this when selecting a space. Accounting or law firms will want some collaborative space, but the nature of their work also calls for some private spaces. Rooms for returning phone calls or having one-to-one or small group meetings can be extremely useful to this type of organization.

Check on accessibility

For professional services firms, it’s critical to consider the client when choosing office space. A good choice is a workplace that makes your customers feel comfortable and projects your desired image. Is the location easy to find and clearly marked? Is it close to major roads and highways? A quality lobby, and convenient entry and elevators are a must for professional services locations.

Investigate the management

Building management is a huge factor in satisfaction with office space. An ideal workplace has a property manager that keeps tenants happy, maintains the property impeccably, and responds promptly to communications.

Consider security

Depending on the location and hours worked in a firm, it may be important to secure a property with extra security features. For example, some buildings offer 24-hour security patrols of the property, as well as cameras to monitor exterior and interior areas. Ask about things like exterior lighting, which can be critical for after hours work.

As with any important decision, assessing needs and getting buy-in are the way to start when the search is on for office space.  A qualified broker can be a great help in identifying properties that stack up to the expectations of professional services firms.

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Corporate America Opens Up to Co-Working

Coworking has really just been around for about a decade, and it’s already cutting its hair and putting on a tie. The practice was born in the start-up culture, favored by entrepreneurs, freelancers, and independent innovators. In recent years, co-working has matured, and is now an option that’s appealing to more structured corporate organizations as well.

Just so we’re on the same page: what is co-working? It’s been called an office where workers share the same roof but not necessarily the same boss, or “working alone together.”  Basically it’s a work space that allows for independent activity in a shared space. Individuals or groups rent only the space they need, and have the opportunity to network and interact with others in the space if they’re so inclined. This can often foster a stimulating, creative, and collaborative environment.

Co-working has seen remarkable growth since its inception in 2005. The number of U.S. coworking spaces doubled from 2012 to 2013, and there are now an estimated 800+ in the U.S. These spaces have held great attraction for freelancers and entrepreneurs who are tired of working from home or the local coffee shop. Co-working provides a productive workspace as well as the opportunity for interaction that solo work often lacks. Working in a shared space often sparks new partnerships and ideas.

Research shows that co-working attracts those seeking "efficiency, economy, community, collaborative opportunities, social and educational benefits." These aren’t only of interest to startups, and in the last couple of years more traditional corporations have begun to take advantage of these benefits as well.

In Boston, for example, the financial company State Street has developed a shared interdepartmental work space, which they call State Street Bank. This is a corporate co-working idea, and has the following features that set it apart from traditional spaces:

Shared meeting rooms, storage, supplies (among departments)

Flexible, more open seating

Multipurpose communal space (cafeteria, lobby)

The space is intended to feature interdepartmental sharing of common space, multi-functional spaces, less individual space and more collective space, to allow for greater collaboration across the company.

Other corporations are seeing the benefits of co-working as part of a relocation. General Electric moved 20 workers from its new energy business, Current, into a WeWork space near Boston's South Station. GE is preparing its new Boston headquarters. As staff is gradually brought up to capacity, co-working allows for cost savings. In some cases, per worker costs for co-working spaces can be as much as 35% lower than through a traditional commercial lease. This takes into consideration the ease of moving staff in and out, as well as the flexible terms available through a co-working arrangement.

In addition to being more practical at times, co-working spaces are often amenity-rich, ideally located, and feature a trendy design. These features can be terrific for recruiting. As the millennial generation takes its place at the helm, workers are looking for more opportunities for collaboration and interaction at the workplace. Coworking spaces provide a wealth of networking opportunities, and many include educational programming and professional development opportunities right on site.

This, combined with flexible leasing terms and the potential for cost savings, makes co-working a solution for large organization as well as independent individuals. Coworking companies continue to evolve, reinventing the workplace from one size fits all to fit for all sizes.

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4 Ways Millennials are Shaping the CRE Market

“Millennials” may rank as one of the most-used words in the English language in recent months, but it’s for good reason. This generation, born roughly between 1980 and 2000, make up more than one-third of the U.S. population, making them easily the country’s largest demographic.

The millennial generation’s experience has been unique, thanks to the fact that it was the first to have lifelong access to the Internet. This fact, along with all of the connectivity that it implies, has profoundly affected the cohort’s attitudes and behaviors, and this, in turn has impacted our society to a tremendous extent.

What makes them tick?

Access to Technology

Millennials are connected 24/7, and they expect to be able to handle both personal and business matters using digital tools. Access to social media means that millennials have come to rely on the expertise of others when making decisions about all sorts of things -what to buy, where to live, how to work, and what apps to try. Their love of technology has led to an explosion of innovation and the utilization of digital solutions across all industries, including CRE.

This preference is behind the movement toward omni-channel retail, which in turn is changing the space requirements for many businesses. As more transactions move online, the need for physical showrooms is decreasing while strategically located warehouse space is in greater demand.

Another significant area where technology drives change is in property management. Firms that offer advantages like online rent payment, virtual tours, and automated marketing are connecting with millennial clients.

Urban Walkability

“Walkability” wasn’t even a word until the millennials came along. Now it’s one of the characteristics of the ideal workplace. Millennials have encouraged the growth of mixed-use developments through their desire to live, work, and play in one neighborhood. Office tenants are finding that a central location, near city amenities is a tool for attracting and retaining millennial talent.

Social and Collaborative

Another thing about millennials that’s changing the workplace: they work well with others. This generation values collaboration, and wants opportunities to interact in the workplace. This has led to major changes in what the modern workplace looks like. Gone are the hallways lined with private offices. Spaces are designed for tasks rather than people, and mobile technology frees workers from sitting at a single workstation.

Today’s workplace, with its rooftop terraces, gourmet coffee, comfortable lounges, and bike rooms can all be attributed to the millennial social butterfly. It’s one of the many ways that this generation is changing the landscape for CRE.

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4 Tips for Maximizing Your Real Estate CRM

If you’re reading this, you probably have a sneaking suspicion that you’re not getting all that you could be from your CRM software, and you’re probably right.

First of all, you’re to be commended for making use of a tool that is your best ally when it comes to increasing productivity and improving services. If your CRM is underutilized, you’re in good company. Research shows that 43% of CRM customers overall are using less than half of their software’s features, and it’s a pretty safe bet that the percentage is higher among real estate users.

With time at a premium, it can be challenging to choose the features that will be most useful to you, but the power of a CRM platform lies in its ability to tie together diverse aspects of your business to provide seamless functionality. Investing a bit of time on the front end will keep things running more efficiently going forward.

While CRM software helps you handle a variety of tasks and processes, perhaps its most useful function is in contact management. A good system will turn your contacts into relationships by assembling all relevant information and correspondence with each contact, creating a detailed story of the client and your interactions.

Beyond contact management, CRM platforms can help you to manage transactions by keeping track of critical dates and documents. Teams can stay informed, share updates, and track workflows in one central location.

Contact information can be integrated with scheduling. Appointments can be shared, and text or email alerts set up in advance. Teams can share weekly to-do lists and keep track of progress.

Marketing can be a breeze with a good CRM platform. The information you need is already assembled, allowing for quick creation of custom content in whatever format you need.

How can you get the most out of your real estate CRM? Look for these features, and use them. You don’t have to do it all at once, but the more features you incorporate, the more useful the system will become. The power of the CRM is in its integration.

Extensive Lead Information

Contact information should include detailed information on the client: personal details, location, property preferences, and information on past transactions can all be rolled into a complete picture of the person represented.

Intuitive Design

The CRM should match your needs. Some are designed for very large organizations and may have more horsepower than you need. Choose a platform that provides the functionality you need, without a lot of extras that will increase cost and also -very importantly- the learning curve.

Cloud Storage

This should be non-negotiable. Cloud-based CRM software is the only way to go. You avoid having to download or update the program, which is housed and maintained remotely. You have access to your account from any location and multiple devices, as do your clients and team members. And if your desktop computer crashes or your laptop is stolen, your data are safe and sound.

Seamless Integration

Your CRM should connect contact information with marketing and sales functions. The advantage of an all-in-one system is the ability to avoid redundancies. Make sure that your system is compatible with other important digital tools you use- even social media. This will put you ahead of more than 90% of CRM users right off the bat.

Basically, if you’re using CRM, good for you. Keep on doing what you do, and incorporate these tips to maximize your results.

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How to Appeal to International Clients

To best appeal to international clients, you need to have some understanding of the culture and conditions in the target country. Creating content that is accessible to international prospects may involve setting up a website in the native language, or at least providing a translation feature. It can be very good practice to contract with an agent or representative “on the ground” who can filter and enhance your message to suit local tastes and interests.

It’s tough to work in commercial real estate these days without encountering clients hailing from outside the U.S. Activity with foreign investors has been brisk in recent years, and it’s likely to continue to grow in 2016.

About a quarter of all CRE investment purchases in the U.S. are made with foreign capital, a huge factor in supporting the continued rate of new development, particularly in primary markets. International interest extends to U.S. home buying too, with the number of agents working with international clients rose by 7 percent from March 2014 to March 2015, according to the National Association of REALTORS.

This surge in foreign investment is further encouraged by recent legislative developments, including the easing of tax burdens for international buyers of U.S. real estate. Sections of the JOBS Act enacted as recently as December make it easier for foreign investors to avoid heavy taxes on gains in real estate.

High net worth individuals and pension funds overseas have deep pockets, and they are willing to tolerate modest yield in exchange for the relative security of the U.S. market. Still, there are unique challenges involved in international transactions, and appealing to these buyers requires some study and prep.

Shift your perspective

When you’re appealing to an investor in China or Dubai, your marketing has to reflect their viewpoint. In this situation, the client wants market information on a broader range of locations. If your information is currently limited to your primary market, appealing to international buyers will require you to assemble data on properties in multiple locales.

If you’re employing technology to gather property information, this transition is easy. Assemble a collection of prospective listings based on the client’s preferences, not on location. Work on the ability to compare properties from different markets.

Anticipate different expectations

The complexity of real estate transactions increases when laws and customs of different countries are mixed. Be aware that a foreign client may be accustomed to a different way of approaching many aspects of the deal, and even if they have been involved in U.S. transactions previously, it’s good practice to lay out the regulations and process for the state in which this particular transaction will occur. It’s important that your client understands, for example, that in most U.S. states, a real estate agent has the authority to receive and present offers but not the authority to sign for the principal without a power of attorney. In other words, the agent can negotiate on behalf of, but not bind contractually, the principal.

Clarify your expectations on this and other factors, such as negotiation and the closing process, and make sure that your understand those of your client.

Tailor marketing

To best appeal to international clients, you need to have some understanding of the culture and conditions in the target country. Creating content that is accessible to international prospects may involve setting up a website in the native language, or at least providing a translation feature. It can be very good practice to contract with an agent or representative “on the ground” who can filter and enhance your message to suit local tastes and interests.

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5 Smart Professional Networking Tips

The commercial real estate industry’s foundation is personal connection, and a big part of the day is occupied in reaching out to clients, colleagues, and competitors. The right contacts make a critical difference in our ability to identify opportunities and get the job done. Meetings and conferences are a golden opportunity to improve our industry knowledge while expanding our network and exploring new possibilities. Here are some networking tips to help you make the most of your time.

1. ORGANIZE CONTACTS

Most event websites feature an attendee list, so you can begin to check on which of your contacts will be attending the meeting. It’s a great practice to consider the people with whom you’d really like to meet. Using that list is a great starting point for the next tip.

2. SET UP MEETINGS IN ADVANCE

The time at a conference flies by, and the whole thing will be history before you know it. You can nearly always schedule a chat over breakfast or a cup of coffee during the afternoon – if you reach out to people before their days fill up. Use your contact list first, and then branch out to people on the attendee list whose work you’re familiar with or who share your area of expertise. They’ll be glad to make the connection too, even if it’s just to trade business cards for future contact.

3. FILL THE TIME

Some of your most productive conversations may occur in the hallway, between sessions.  Keep your eyes peeled for people you’d like to speak with, offer to make introductions, and be helpful  – offer to share information you may have that’s relevant to the conversation.

4. SPEAK WITH THE SPEAKERS

Conference speakers expect to interact with the audience following a talk. You don’t need an introduction, no matter how renowned the speaker may be. Ask questions and join the post-session huddle. It can lead to bonus information and help you connect with other interested parties.

5. FOLLOW UP RIGHT AWAY

When you get back to the office, you’ll often find you’re inundated with work to catch up on, and the conference will be a dim memory in a matter of days.  While it’s fresh in your mind (like on the flight home), add new contacts to your email account.  It’s a good idea to jot a short note on the back of each card as you collect them, to help you recall what made you interested in that person. Follow up with speakers and other people you met, restating your interest in their ideas, providing supplemental information, leads, or contacts, and expressing your hope that they keep in touch.

With these tips, you’ll really be making the most of the time you set aside for conference attendance, and you’ll find that it pays off. Try them out while you’re at the CBC Global Conference: identify folks you can meet on the Business Development Team, network with top performers, and reconnect with the brand by talking to new affiliates and connecting with the CBC executive team.

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8 Commercial Real Estate Tech Apps to Download in 2016

In the CRE industry, conducting business on the fly is becoming the norm. Clients, colleagues, and competitors all expect more responsiveness and flexibility than ever before. Making use of mobile technology is a must, and there is no shortage of options. Really. SO many options.

There are a whole crop of fantastic CRE apps out there, designed to meet different needs and address specific challenges in the industry.  If you’re considering adding to your mobile arsenal, take a look at these stellar apps, offered by leaders in CRE technology.

CoStarGo

This free app lets you view property information and listings from CoStar’s massive database wherever you are.  The results come on a Google Map, and provide details like absorption rates and sale comps for a given market. Then you can narrow the search to a specific property and get up to date information on ownership, management, and even floor plans.

Happy Inspector

This small but mighty, task-specific app is a versatile tool for managing the entire inspection process.  The app lets you create and share inspection reports from your phone, with customizable templates. You can add photos to reports, update information, and set reminders for yourself. When you’re back at your desk, the app can be used on your desktop –no reformatting or transfer required.

Loopnet

This app brings nationwide property information to your phone. It connects you with Loopnet’s powerful database, and lets you view property details, tenant analyses, mortgage information, and much more on properties that meet your criteria. The app includes filters that allow you to make your search very specific, which saves you time, and it will also alert you when an appropriate new property is listed.

RCA CRE Transaction Search

This app zeroes in on sales, refinancings, and transfers. Users can find transaction details on a given property, including the price, cap rate, and identity of those involved. The search can be customized to scan different CRE sectors: industrial, office, multi-family, retail, hotels, etc.

ReaLync

This app is a great tool for sharing property tours with colleagues and partners. Video tours can be pre-recorded, or live, with viewers able to interact with the broker in the space. Details and photos of the property can also be integrated, within the app, for easy reference.

Property Capsule

This property management solution is fully optimized for mobile use, with apps for iPad and smartphones. The app provides the full function and power of the site, handling everything from property data to marketing in a fully integrated suite. This app epitomizes efficiency, with automated updates across the platform. It automatically generates flyers, and offers interactive planning and maps.

iPropertyMgr

This free app helps managers to oversee multiple properties. It facilitates communication with clients and colleagues, and allows you to submit forms from your phone and generate reports in a variety of formats. You can set up automatic reports with information on vendors, properties, and staff performance.  This app is truly a Pocket Assistant, taking care of details and tending to business 24/7.

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Top 10 Reasons to Attend the 2016 CBC Global Conference

2016 CBC Global Conference April 11-13, 2016 Loews Royal Pacific Resort | Orlando, FL

Space is filling up fast for the 2016 Coldwell Banker Commercial Global Conference! Register soon to avoid missing out on the year's most valuable event. If you still need convincing, here are the top ten reasons to attend: 10) The Loews Royal Pacific Resort. The GC is being held at this island-themed resort that sits inside the Universal Orlando® theme park. It overlooks a lagoon and is just steps away from Universal CityWalk® and the Wizarding World of Harry Potter! 9) Reception at Jimmy Buffet's® Margaritaville®! The exclusive Wednesday evening reception is an excellent opportunity to cap-off the GC in a laid-back tropical atmosphere. 8) The Leadership Series. Meet other CBC Owners/Managers for an open discussion on how they run their business. 7) Pre-Conference Sessions include an all-day CCIM presentations workshop and more! 6)  Keynote speaker Seth Mattison will cover Next Gen Sales. 5) Mix & mingle with CBC President & COO Fred Schmidt, as well as your Advisory Board representative and the CBC Business Development Team. 4) Meet the industry's best vendors with tools, demos and discounts to make you more productive. 3) Learn from Top Performers, because the best of the best are always in attendance. 2) Invest in your mind! Hone your skills with world-class educational sessions. 1) Network, network, network! This is your chance to catch up with old friends and make new connections. The GC provides numerous networking opportunities, including evening receptions and networking breakfasts and lunches. Make sure to bring lots of business cards!  

Visit www.cbcglobalconference.com for more information.

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CBC ranks high on annual CRE Lipsey Survey

Coldwell Banker Commercial is proud to announce that it is once again one of the most recognizable names in the commercial real estate industry, according to the annual Lipsey Survey. The 2016 Top 25 CRE Brands survey ranks Coldwell Banker Commercial 9th among CRE brokerages.

This is the 15th year the Lipsey Company has conducted its survey of CRE brands. This year, over 1 million votes were cast worldwide.

Brokers, developers, investors, mortgage bankers, property managers and clients participated in the annual event. The results are a combination of ballots, focus groups and individual surveys conducted with industry leaders, according to the Lipsey Company.

Click here for the full survey.

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2016 CBC Market Comparison Report

Now Available: The 2016 Coldwell Banker Commercial Market Comparison Report ranks the top commercial real estate markets in the country. Download the report to see where your city ranks!

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How 24/7 Shopping is Changing Commercial Real Estate

Fred Schmidt, President & COO of Coldwell Banker Commercial Affiliates, wrote an article on how technology is impacting the commercial real estate market and how it's sure to be a trend that gains more traction throughout the coming year. The article is featured in Real Estate Forum's first issue of 2016.

Click here to read the article.   

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Bigger Stakes in US REITs for Foreign Investors

Some of the U.S. restrictions on foreign investment in real estate were considerably eased at the end of 2015. This is likely to boost the already high volume of international CRE transactions in the coming years.

Twenty percent of the deals made on CRE in the U.S. currently involve foreign capital, with the heaviest investment coming from Canada, China, and Australia. It is likely that China’s participation will accelerate, thanks in part to the Chinese government’s loosening of restrictions on overseas investment. Interest in international investment is surging, and pension funds around the world are looking to increase their allocation rates for real estate.

Those investors will be allowed a bigger slice of the U.S. CRE pie, thanks to recent changes to FIRPTA (Foreign Investment in Real Property Tax Act) that have helped ease the tax burden on foreign investors in the U.S. Many changes are laid out in the REI (Real Estate Investment) and JOBS (Jumpstart Our Business Startups) Act, finalized last year.

Supporters say that the JOBS Act will allow billions more dollars into the U.S. CRE market, which in turn will “jumpstart credit markets, fund infrastructure projects, and create jobs and economic opportunities.” It has effects well beyond CRE investment. For international investors, it decreases the high transaction costs that were an obstacle before.

Another important legislative development is the PATH (Protecting American Taxpayers from Tax Hikes) Act. This new law affects foreign investors in 2 major ways.

First, the law doubles the maximum amount of stock ownership that a foreign investor may have in a U.S. publicly-traded REIT from the previous limit of 5% to 10%.
 The law also permits certain foreign pension funds to invest in real estate investment trusts (REITs) without having FIRPTA treatment apply.

These developments come on the heels of a record year for international investment in the U.S. market. Companies that have previously invested via joint ventures with U.S. partners and asset management companies may now be more likely to choose to invest directly, resulting in a larger share of foreign capital in the market. Some estimate that as much as $30 billion in additional capital will flow into the U.S. CRE market in 2016 as a result of the tax exemption.

There seems to be an effort underway to decrease the friction of international investment, and this is a great thing for CRE in the U.S. Our relatively stable economy makes it a safe haven for foreign capital, and opportunities are increasing, in various forms.

Real estate crowdfunding platforms are pulling a wider variety of investors into the market, and some, like FundRise, are handling international transactions. Many investors want to be able to participate in the most attractive deals regardless of geography, and this vastly expands the pool of buyers for U.S. properties.

It seems likely that, encouraged by loosening restrictions and more efficient processes, international investors will continue to view the U.S. market favorably. The current favorable state of rents, valuation, and occupancy in the CRE market will help U.S. properties to remain attractive for international investment.