IN THIS ISSUE
INDUSTRY NEWS AND EVENTS
- Headline News
- Commercial Practitioners: Get Involved In Legislative Action
- CommercialSource Date Moved To December 4-6
- 2007 NAR Resort Symposium, June 24-26
- Visit Realtor.org's Commercial News Blog
- What You Need To Know About NAR's Proposed Dues Increase
- Final Reminder: Good Neighbor Deadline Approaching
PUBLIC POLICY UPDATES
- Terrorism Insurance Crucial For Commercial Property Owners, NAR Testifies
- Blue Ribbon Commission Releases Report On Mega-Catastrophes
- Tenants In Common Added To the State Issues Tracker
RESEARCH, RESOURCES, LEGAL
- Study: Who Are Your Future Tenants?
- Global Capital Flows: How They Affect Your Business
- 2006 Vacation-Home Sales Hit Record, Investment Sales Plummet
- Limited-Time Offer from REALTOR Benefits(sm) Partner, GotVMail
- Special Offer to NAR Members from Avis - Free Upgrade with a 3-Day Where2 GPS Rental
- Get attention and boost response with a Xerox color multifunction system
AFFILIATE NEWS
- Expand Your Business with Real Estate Management and Leasing
- RLI's National Land Conference a Success
- Free Commercial Training for Minority Professionals
INDUSTRY NEWS AND EVENTS
HEADLINE NEWS
Headline News.
COMMERCIAL PRACTITIONERS: GET INVOLVED IN LEGISLATIVE ACTION
Watch your mailbox for the Spring issue of the RCA Report in which Cindy Chandler, 2007 RCA Chair, calls for all commercial practitioners to get involved in National Association of REALTORS' legislative initiatives. "It may surprise you to learn that more than half of all NAR's lobbying initiatives focus on commercial issues," says Chandler. "That's why I'm so glad NAR is out there - but NAR can't do it alone. They need us - the commercial experts and hometown voters - to help our representative in Washington understand what key legislative initiatives mean to our businesses and to the
businesses of our property owners and tenants." Look for the RCA Report posted online from 'What's New' on www.REALTOR.org/RCA
COMMERCIALSOURCE DATE MOVED TO DECEMBER 4-6
The 2007 CommercialSource online convention that was scheduled for June 18-24 has been moved to December 4-6. The December convention will be on a new technology platform that will provide a more robust experience. You are not going to want to miss this show. Registration is ongoing, visit www.commercialsource.com to sign up for your free pass to the premier online convention for commercial real estate.
2007 NAR RESORT SYMPOSIUM, JUNE 24-26
Ride on out to picturesque Vail, Colo., and join other successful resort and second-home specialists for education and networking tailored to your business at the 2007 National Association of REALTORSŪ Resort Symposium: Rocky Mountain Round-up! Each prior symposium (Cabo San Lucas, Cape Cod, and Hawaii) has sold out, so register today! Learn more.
VISIT REALTOR.ORG'S COMMERCIAL NEWS BLOG
Real estate professionals specializing in commercial and investment properties can find the latest information on research studies, websites, books, news, tips, and other resources at the NAR library's commercial news blog. To stay up-to-date on new resources for commercial practitioners, visit the blog frequently or subscribe to the blog and have new entries sent to you via RSS feed.Read the latest entry in the blog.
WHAT YOU NEED TO KNOW ABOUT NAR'S PROPOSED DUES INCREASE
NAR has issued a letter to explaining the reasoning behind the proposed $16 per member dues increase for 2008 and has prepared a set of talking points. The dues increase, which would be the first since 1994, will be voted on at NAR's Midyear Board of Directors meeting on May 19 in Washington, D.C. Read more (Login required).
FINAL REMINDER: GOOD NEIGHBOR DEADLINE APPROACHING
REALTOR Magazine is seeking nominees for the eighth annual Good Neighbor Awards, which recognize REALTORS who impact their communities through volunteer work. Five winners will be recognized at the REALTORS Conference & Expo in Las Vegas and will receive travel expenses to attend the show and a $10,000 grant for their community cause. Volunteer work might include affordable housing initiatives, youth mentoring, homelessness prevention, or anything else that makes a community a better place to live. Entries must be received by May 25.
Read more.
For information and an entry form see the May issue of REALTOR Magazine, or contact sgeimer@realtors.org.
PUBLIC POLICY UPDATES
TERRORISM INSURANCE CRUCIAL FOR COMMERCIAL PROPERTY OWNERS, NAR TESTIFIES
A federal terrorism risk insurance program is critical for commercial real estate markets nationwide, and particularly urgent to address now since the Terrorism Risk Extension Act of 2005 expires at the end of this year, testified Joseph P. Ditchman Jr., a partner with Colliers Ostendorf Morris in Cleveland, on behalf of NAR and the Coalition to Insure Against Terrorism. In testimony before the Financial Services Subcommittee on Capital Markets, Ditchman said the terrorism risk program would be strengthened for commercial property owners if the program is extended for the long term and
includes domestic acts of terrorism as well as coverage for nuclear, biological, chemical or radiological events. Learn more.
BLUE RIBBON COMMISSION RELEASES REPORT ON MEGA-CATASTROPHES
A high-level panel looking at ways to minimize impacts of major disasters like Hurricane Katrina says mitigation efforts like changes to building codes are needed. The recommendations of the Financial Services Roundtable Blue Ribbon Commission on Mega-Catastrophes, in its May 4 report, also addresses ways to increase the equitable distribution of costs of mega-catastrophes, in part by broadening the role of capital markets. NAR, which is focused on maintaining the availability of affordable insurance, was represented on the panel by NAR Past President Tom Stevens.
View the press release of the report.
Read the report.
TENANTS IN COMMON ADDED TO THE STATE ISSUES TRACKER
The tracking of tenants in common (TIC) law has been added to the NAR State Issues Tracker, which now includes an analysis of how states handle the issue of nonsecuritized TICs, TIC ownership, and how TICs are transferred or sold within a state. The State Issues Tracker is a fully searchable electronic database to help you track and analyze core issues, such as on license reciprocity, the law of agency, and seller disclosure requirements. Access the
State Issues Tracker, registration and login
required, or contact: Gerry Allen, 202/383-1109.
RESEARCH, RESOURCES, LEGAL
STUDY: WHO ARE YOUR FUTURE TENANTS?
The commercial real estate industry should be encouraged that office-based employment will increase by 6.5 percent between 2004 and 2009 and grow nearly the same percentage in the five years after, according to the results of new research from the National Association of REALTORSŪ National Center for Real Estate Research. The report is expected to serve as a beacon to help guide where and what types of office space will be needed in the next decade and beyond. The study also illustrates a methodology for making similar projections at the metro level.
Learn more.
GLOBAL CAPITAL FLOWS: HOW THEY AFFECT YOUR BUSINESS
The latest release in the Hot Topics series from the RCA looks at how the worldwide movement of capital impacts the day-to-day concerns of the average commercial broker - more money available means more money for investors, better interest rates for real estate borrowers, and higher commissions for commercial real estate brokers. Read how the globalization of capital markets and real estate's growing role as a global asset class have altered where the money you and your investment clients borrow comes from, how readily available that money is, and how much it costs.
Read the latest Hot Topic.
2006 VACATION-HOME SALES HIT RECORD, INVESTMENT SALES PLUMMET
Second-home sales were mixed in 2006, with the combined total of vacation- and investment-home sales accounting for 36 percent of all existing and new residential transactions - down from 40 percent of sales in 2005, according to NAR's annual Investment and Vacation Home Buyers Survey. The survey shows vacation-home sales rose 4.7 percent to a record 1.07 million in 2006, while investment-home sales fell sharply, down 28.9 percent to 1.65 million in 2006.
Learn
more.
LIMITED-TIME OFFER FROM REALTOR BENEFITS(sm) PARTNER, GOTVMAIL
GotVMail Communications provides powerful telephone call forwarding, voice messaging, and fax-on-demand services. Until June 30, NAR members who sign up for a GotVMail VirtualOne account will receive 800 free minutes of service plus, GotVMail will waive the activation fee for a limited time - a combined value of nearly $75! GotVMail's VirtualOne service allows REALTORSŪ to receive calls wherever they are and remain in touch with clients and prospects. The VirtualOne system offers all the functionality of a large corporate phone system with plans starting at just $9.95 a month. To learn more,
visit http://www.GotVMail.com/nar or call 1-800-820-8210 and mention your NAR membership.
SPECIAL OFFER TO NAR MEMBERS FROM AVIS - FREE UPGRADE WITH A 3-DAY WHERE2 GPS RENTAL
For a limited time, NAR members can receive a free one-car class upgrade when they rent a Where2 Navigation unit for three days or more from REALTOR Benefits(sm) Program Partner Avis. With Where2, you can drive like a local with the latest in navigation technology. More than just directions, Avis' Where2 allows you to look up addresses, hotels and attractions, all with a touch to the screen. Rental must begin by June 30. Use AWD number A009701 and coupon number UUTA050. Visit
http://www.avis.com/AvisWeb/html/bridge/deals/narup.html for details and to make a reservation.
GET ATTENTION AND BOOST RESPONSE WITH A XEROX COLOR MULTIFUNCTION SYSTEM.
Whether you're printing sales flyers, correspondence or contracts, color adds impact to your documents. It helps you stand out from the crowd and improves readability and recall. Xerox makes color affordable. Through NAR's REALTOR Benefits(sm) Program, REALTORSŪ and association staff enjoy special savings on Xerox products. Call 1-800-ASK XEROX, ext. 627 and mention NAR contract number 0706978. For more information and the chance to win a Xerox PhaserŪ 8560MFP, a multifunction product valued at $1,999, visit
http://www.office.xerox.com/perl-bin/response.pl?57356. To be eligible to win, you must enter by 6/29/07.
AFFILIATE NEWS
EXPAND YOUR BUSINESS WITH REAL ESTATE MANAGEMENT AND LEASING
Successful commercial REALTORS are savvy about finding creative ways to bring in business, and real estate management and leasing can generate attractive income streams. So if you're already into managing and leasing or considering adding them to your business, "Managing and Leasing Commercial Properties," just published by IREM, is a must-have resource. The two-volume book gives you practical advice and problem-solving tips for all types of commercial properties. It covers operational issues, marketing and leasing techniques, lease negotiations, financial concepts and tools unique to
managing commercial properties, and much more. For additional information, check out "Managing and Leasing Commercial Properties" at www.irembooks.org.
RLI'S NATIONAL LAND CONFERENCE A SUCCESS
On April 11, 2007 in San Antonio, TX the REALTORSŪ Land Institute (RLI) held its first annual National Land Conference to rave reviews. "The first Annual RLI National Land Conference will now stand as a completely embraced success!" exclaimed Michael E. Landreth, ALC, CRS, GRI and the President-Elect, Land Conference Chair. While only initially offered to a limit of 50 ALC's, the program of the future will rise to the demand and will become an industry standard for many more participants, with expanded programming, networking, marketing, and education. Hear from the attendees themselves as
they discuss the benefits and networking opportunities they found at RLI's First National Land Conference Listen to Podcast.For more information on RLI programs and services, contact Jan Hope, EVP, RLI 800/441-5263. Make sure to visit www.rliland.com.
FREE COMMERCIAL TRAINING FOR MINORITY PROFESSIONALS
The CCIM Institute, an NAR affiliate for certifying practitioners in commercial real estate investment best practices, is offering a free training course to minority practitioners. The training takes place in Chicago, June 7-8. Learn more.
Report compiled by Bobbie Albrecht, balbrecht@realtors.org, 312/329-8464.
QUESTIONS on this report? Visit the INS FAQ and online feedback area on REALTOR.org. Click here.
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