Real News from RealNex

The global coronavirus pandemic has had an unprecedented impact on many of the habits and customs that have guided our society for as long as we can remember. And few places have been as disrupted as the workplace, with the majority of the American workforce being confined to their homes. 

In the May session of That’s #CRE #CREAGH, RealNex lead developer Tim Creagh showcased an incredible array of new advances made to the platform.

There never seems to be a shortage of prognostications about what will happen the moment a crisis hits.  Some of you may remember the dire predictions for real estate at the onset of the Global Financial Crisis (housing oversupply for 25 years).  A few of you may even remember the doom and gloom from the S&L crisis.  Predictably, an immediate conclusion some in the real estate industry reached was that the office market is dead due to Covid-19 – not to return.  No ifs, ands or buts.  We have proven technology that accommodate us working remotely and we have no need to commute to an office anymore!

The RealNex Webinar Series continued May 21, with Dr. Jeffrey Fisher providing a Commercial Real Estate Market Update based on Q1 2020 data. The data and results marked a first glimpse of the impact of the COVID-19 pandemic’s impact on CRE markets. Even with just one month of the quarter realizing the full brunt of the change in the world order, industry performance was starkly different than Q4 2019. Private Real Estate values are largely backward looking based on appraised values and comparable sales, while public markets are more forward looking. Thus, the NCREIF Property Index (NPI) of privately-owned real estate eeked out a positive .7% return for the quarter whereas REIT prices dropped a staggering -23.4%. It is expected that in Q2 with the NPI will move into negative territory for the first time since the Global Financial Crisis and that REITS will be buoyed to more closely align with the drop in underlying asset values. With transaction volume plunging in March and even more in April and May, price discovery has yet to be realized.

As always, the April episode of That’s #CRE #CREAGH was jam packed with terrific new enhancements and advancements to the RealNex Platform. In this most recent session RealNex lead developer Tim Creagh displayed a host of new tools just released as well as several items pending in May.

We had a fantastic session in the ongoing RealNex Webinar Series this last week as RealNex CEO Jeff Finn hosted Blaine Strickland, CCIM. The webinar focused on the findings of Blaine’s new top selling book Adapt. Disruption is coming to Commercial Real Estate Brokerage. Are you Ready? It was a thought provoking and perhaps intimidating hour as Blaine focused on the 9 forces that are forever changing the commercial real estate brokerage sector. Nothing to do with COVID-19 or external forces dramatically and coincidentally changing the world and how all businesses are done, this insightful book homes in on the unique drivers of change in the commercial real estate industry.

Did ya know, its easy to build, tweak and reuse Filters?!

If you’ve been keeping up with commercial real estate news in the last two years, you’re already familiar with the increased application of sensor technology within the industry. 2018 and 2019 were buzzing with conversations about how the implementation of sensor tech was set to transform CRE forever. 

Interested in attracting winning commercial real estate agents to your brokerage firm? The best place to start is by thinking like an agent. 

Did Ya Know, we have added a host of new Cover Pages and email Templates and dramatically enhanced the design editor?!