The Greater Las Vegas Association of REALTORS®, Nevada Association of REALTORS® and the National Association of REALTORS® are hosting a two-day resort and global real estate event April 18-19, 2013.
Welcome To The ‘Jump Start Value’ Edition Of Commercial Connections
All of the news in this First Quarter edition is directly related to one of the many benefits REALTORS® receive from their membership with the NATIONAL ASSOCIATION OF REALTORS®.
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