Amid a backdrop of moderately positive economic growth, demand for commercial space is rising and availability is declining across all property types. A main driver of the rebound comes from low levels of new construction in recent years, which have prevented a run-up in supply. The other drivers are rising employment in office-using industries, increased international trade, and a housing market which has turned many owners into renters.
In order to provide commercial real estate information services, the National Association of REALTORS® (NAR) recently announced Xceligent as a new REALTOR Benefits® Partner. As part of Xceligent’s expansion into providing a national public marketing platform for commercial real estate listings, Xceligent purchased ePropertyData from Second Century Ventures, the strategic investment arm of NAR. As part of the REALTOR Benefits® Program, Xceligent will be the exclusive provider of commercial real estate information services with preferred pricing for REALTORS®.
Are the weak U.S. jobs numbers and the debt headaches in Europe making your clients uneasy about commercial real estate performance? Don’t worry, says Lawrence Yun, chief economist for the National Association of REALTORS®. Net absorption is rising because the economy has added nearly 4 million jobs since 2009. Combine that with very limited new construction over the same period, and “even moderate demand for commercial space will help lower vacancy rates and slowly push up rents,” he says.
By: Barbara Vohryzek, National Association of Development Companies
New REALTOR BENEFITS® Partner Xceligent Changing the Game and the Playing Field for REALTORS®
Xceligent will be delivering competitive commercial real estate information services to the industry and REALTORS® are receiving preferred pricing on fully researched information as well as global marketing of listings. Turn to the Tech Savvy column in this issue to get the latest information on this exciting direction for the REALTOR Benefits® Program and REALTORS®.
Did you know that NAR offers classes on employer-assisted housing, expanding housing opportunities, and smart growth? Learn more.