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(Updated January 2012)
Though both the U.S. and world economies remain in a somewhat precarious state, the commercial real estate market has shown incremental improvements since the economic collapse of the 2000s. Navigating the commercial real estate landscape often requires deft knowledge and skill, but the resources below provide guidance and background on how to get started. (K. Stockert, Information & Web Content Specialist)
Some Facts about the Commercial Real Estate Industry:
- Estimated average commercial transaction: $1.1 million, (Source: Commercial Real Estate Quarterly Market Survey, NAR Research, Nov. 2011).
- Approximately 79,000 NAR and Institute Affiliate members specialize in commercial brokerage services, and an additional 171,000 members offer commercial real estate as a secondary business, (Source: Growth in Commercial Real Estate Markets Expected in 2012, NAR Research, Nov. 2011).
- More than 70 percent of REALTORS® name lack of available financing as a major obstacle for commercial real estate this year, (Source: 2011 Commercial Real Estate Lending Survey, NAR Research, Mar. 2011).
Primary Business Specialty of NAR's Commercial Members:
- Investment sales: 12%
- Land sales: 11%
- Office leasing: 10%
- Multi-family building sales: 8%
- Commercial property management: 6%
- Retail leasing: 5%
- Retail building sales: 5%
- Industrial building sales: 5%
- Office building sales: 4%
- Development: 4%
Source: NAR's 2011 Commercial Member Profile.
For more commercial market data, go to NAR's Commercial Research Page.
The Commercial Real Estate Market
Big Developers Dabble in Apartment Market, (Wall Street Journal, Dec. 21, 2011).
Mile-High Aspirations, (Wall Street Journal, Dec. 21, 2011).
Maintaining Property Values in Tough Times, (Mortgage Banking, Dec. 2011).Q
$789 Billion in Debt Finally Starting to Flow to Marketplace, (Pensions & Investments, Dec. 12, 2011).Q
Growth in Commercial Real Estate Expected in 2012, (REALTOR® Magazine, Nov. 28, 2011).
Revenue Improving, But Recovery is Slow, (Financial Executive, Nov. 2011).Q
Measured Improvement in Commercial Sectors Expected, (REALTOR® Magazine, Nov. 14, 2011).
Real Estate Savvy: What You Should Know, (Franchising World, Oct. 2011).Q
Economic Slowdown Impacts Commercial Markets, (REALTOR® Magazine, Aug. 25, 2011).
Commercial Real Estate: The Basics
How to Buy Commercial Real Estate - Commercial Real Estate Investing Tips, (Real Estate Finance, Oct. 2011).Q
What Dodd-Frank Means for Commercial Real Estate, (REALTOR® Magazine, July 2011).
Getting started in commercial real estate, (REALTOR® Magazine Online, Jan. 2007).
Resources for Getting Started
REALTORS® Commercial Alliance - RCA is the collective commercial constituency within NAR, comprised of commercial practitioners who hold REALTOR®, REALTOR-ASSOCIATE®, or Institute Affiliate Membership; NAR commercial committees; local commercial boards and structures; the five national Commercial Affiliates (CCIM, CRE, IREM, RLI and SIOR); the RCA Advisory Board; and commercial products and services.
CommercialSource - for commercial property listings.
Financing Briefs: Commercial Real Estate Financing Trap - (Real Estate Finance, Oct. 2011). Q
The NAR's commercial team regularly hosts podcasts on a diversity of commercial topics. For the latest, check out the Commercial Podcasts home page and Commercial Intelligence Briefings.
NAR Education Matrix - courses in commercial real estate.
CCIM Institute - The CCIM Institute confers the CCIM designation and is an affiliate of the National Association of REALTORS® (NAR).
Commercial Investment Real Estate magazine
Institute of Real Estate Management (IREM)- The source for education, resources, information and membership for real estate management professionals.
Journal of Property Management Q
Society of Industrial and Office REALTORS® (SIOR) - The leading professional commercial and industrial real estate association.
Research on Your Own!
To search for the most recent articles on this topic, click ProQuest at the bottom right of the Library's home page and enter subject terms such as:
Commercial real estate Enter into ProQuest text box as su(commercial) AND su(real estate)
Information Savvy!
Many websites, such as Wikipedia, can be great resources to quickly get oriented on a subject before conducting more in depth research. However, anyone in the world can create and maintain a website or write a seemingly legitimate article and may, intentionally or unintentionally, publish false or "misinformation." When reviewing information on the Internet, you should always consider the ABC's:
- Accuracy. Is the information accurate? Can you confirm the same information using other resources published by a different author or organization?
- Author. Who composed the information? Can you easily identify the author and contact the author or website publisher?
- Bias. What bias might the author or author organization have?
- Credibility. What is the author’s or author organization’s credentials for publishing the information? What expertise, experience, or education does the author have in this area that makes him or her qualified to write on the subject matter?
- Critical Eye. When was the web page last updated? Is it possible the information might have changed since this web page was last published? use your discretion and critical eye to determine whether information you find on the web (or even in books and news sources!) is trustworthy. Putting websites to the ABC test will get you started in developing a strong critical eye.
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
Commercial Mortgages 101 (Kindle, Adobe eReader)
Commercial Real Estate Investing (Kindle, Adobe eReader)
Commercial Real Estate Investing in Canada (Adobe eReader)
Commercial Real Estate Investment (Adobe eReader)
The Commercial Real Estate Revolution (Kindle, Adobe eReader)
The complete guide to buying and selling apartment buildings (Kindle, Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
The commercial real estate tsunami: a survival guide for lenders, owners, buyers and brokers, (Hoboken, NJ: Wiley, 2011).
After the fall: opportunities and strategies for real estate investing in the coming decade, (Hoboken, NJ: Wiley, 2009).
Commercial real estate investing: a creative guide to successfully making money, (Hoboken, NJ: Wiley, 2008).
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Commercial Property Management
Field Guide to Hotel/Motel Properties
Field Guide to Office Properties
Have an Idea for a New Field Guide?
Click here to send us your suggestions.
The inclusion of links on this field guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this field guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.