Cubicles aren’t the only things disappearing from today’s workplace. Walls in general are going down and lifestyle amenities are going up. Socializing with co-workers throughout the day was frowned upon two decades ago whereas today it’s being encouraged. There have been extraordinary changes taking place in the workplace dragging CRE along with it.
Introducing: Dr. Jeff Fisher Pricing Webinar
Dr. Jeff Fisher is a founding partner of Pavonis Group and Head of Research of RealNex. He is also President and Chairman of the Board of the Homer Hoyt Institute and Professor Emeritus of Real Estate at the Indiana University Kelley School of Business.
Topics: Commercial Real Estate
By Jeffrey D. Fisher, Ph.D.
Although returns for commercial real estate have been somewhat modest this past year, returns for the fourth quarter of 2017 were the highest quarter for the year according to the NCREIF Property Index (NPI). The NPI reflects investment performance for 7,527 commercial properties, totaling $559.8 billion of market value owned and managed by the nation’s largest institutional investors and pension funds.
The quarterly total return was 1.80% in the fourth quarter, up from 1.70% last quarter, and higher than the 1.73% return for the fourth quarter of 2016. For the year of 2017, the return was just slightly under 7%. This is an unleveraged return for what is primarily “core” real estate held by institutional investors throughout the US.
Millennials are quickly growing to become a dominant force in the workplace as well as in terms of consumer behavior and drivers of societal norms. So it only makes sense to take their values and needs into consideration when giving thought to commercial real estate technology.
Productivity seems to be the golden goal of the moment. With so many technological resources at our disposal and the social media/competitive loop urging the crowd on to ever-higher achievements, there seems to be this underlying and overarching sense that we can be more, that we can do more. Plus, it's fun to try to "game the system" -- to figure out those tasks and rituals, that when combined in just the right way, bring SUCCESS.
HOUSTON-October 2, 2017-RealNex, a commercial real estate technology company, today announced the launch of its largest-to-date release -- RealNex 3.0. The release includes new features and advanced integration between CORE CRM, MarketEdge (financial analysis, reporting and deal room capabilities), and MarketPlace, a single, new listing, search and marketing platform. RealNex 3.0 empowers CRE professionals with hyper-efficient tools to prospect, market and manage transactions – increasing exposure and shortening deal cycles.
Technology is here to stay in commercial real estate and, to be honest, is changing the way things are done throughout the property life cycle. Mobile technology, CRM software, and virtual reality are making those embracing these technologies more efficient and more profitable. However, your agents may be resistant to change and avoid the new tools available to them.
Working in the commercial real estate industry probably means you are constantly prospecting and looking for new leads. Whether you are prospecting through networking events, social media or other means, one prospecting tool that might get overlooked is your very own CRM. Let’s dig into how to prospect that particular goldmine:
The sales cycle is a process -- a series of steps that convince a person or a group of people to say yes on multiple occasions. In other words, this process is essentially multiple small sales that hopefully lead up to the one big sale at the end. These small steps might include getting a prospect to give you their contact information, utilizing that contact information to reach out, and then convincing them to work with you.