IN THIS ISSUE
INDUSTRY NEWS AND EVENTS
- Keynote Speakers Added to CommercialSource.com
- A Guide to Commercial Events at NAR Midyear Meetings
- Second Quarter RCA Publications in the Mail to You
- 2006 REALTORS® Conference & Expo, November 10-13, New Orleans, LA
- U.S. States Look East for Investors
PUBLIC POLICY UPDATES
- Updated Commercial Legislative & Regulatory Issue Summaries
- Capital Flow to Commercial Real Estate at Risk
- Small Business Needs Health Coverage Options
- Federal Terrorism Insurance Backstop Needs Consideration, NAR Says
RESEARCH, RESOURCES, LEGAL
- New Home for Commercial Real Estate Research on REALTOR.org
- Leasing Commission Denied for Failed Office Building Transaction
- Analysis of FCC Revised Fax Rules Available
- NAR Releases Working Principles on Eminent Domain
AFFILIATE NEWS
- New IREM Report Addresses Critical Issues Impacting Commercial Real Estate Practitioners
INDUSTRY NEWS AND EVENTS
KEYNOTE SPEAKERS ADDED TO COMMERCIALSOURCE.COM
Register now for the first RCA-sponsored, no-cost, virtual convention taking place online June 6-12, 2006. Hear David A. Frosh President, Sperry Van Ness answer, "Who really has the market share of investment transactions?" It's not who you think. Another keynote speaker; Jacklene Chesler, Senior Vice President, Coldwell Banker Commercial® will give her insights on how innovations in technology drive innovation in business and how to stay ahead of the pack.
There are more presentations from nationally recognized real estate trainers, authors and industry experts. Connect with other real estate professionals in the network forums and check out products and services at the virtual trade show.
For more information and to register for a complimentary pass visit www.commercialsource.com/register.cfm.
A GUIDE TO COMMERCIAL EVENTS AT NAR MIDYEAR MEETINGS
The Midyear meetings are scheduled to get underway on May 15-20th. If you're attending, visit the RCA at NAR's booth #1018 to pick up copies of the latest RCA publications and register for Commercial Source.com. Be sure to attend all
of the business meetings for the RCA.
Download the agenda of commercial meetings.
SECOND QUARTER RCA PUBLICATIONS IN THE MAIL TO YOU
The RCA has produced a new crop of publications that are on their way to you. The second
quarter RCA Report features a cover story on negotiating skills. Along with the RCA Report are our other quarterly publications. The Technology & Intelligence Briefing; audio CD, includes some
great insights from Mike Lipsey, the nationally recognized trainer, and Realcomm founder Jim Young sharing his vision on the issues and implications for the future of commercial real estate and the NAR's Center for Real Estate Technology, Mark Lesswing giving some very practical advice on how to build your image using technology. If that isn't enough to keep you busy - we have a new Hot Topic on Base Realignment and Closure - impact and opportunity. Please take the time to fill out the reader response card enclosed in the RCA Report to let us know what you would like to see in future
editions. If you would like to preview an online version of any of these publications or look through the archives, visit our home page.
2006 REALTORS® CONFERENCE & EXPO, NOVEMBER 10-13, NEW ORLEANS, LA
There are more reasons than ever for the commercial real estate professional to attend NARdi Gras. From 1031 qualified intermediary companies to the latest
GPS devices, you can comparison shop among 600+ vendors on the show floor and increase your business
productivity. A commercial topic area of sessions is currently under development and will include the latest in commercial economic trends, TICs, land development, and a 1031 Exchange course for continuing education credit. Register now and select to stay at one of 29 hotels where we have secured room blocks at special rates.
U.S. STATES LOOK EAST FOR INVESTORS
In conjunction
with
the Sept. 27-29 MIPIM Asia show (Hong Kong), the Commercial Service of the U.S. Commerce Dept. in
Hong Kong has organized an American Real Estate and Services (AREAS) pavilion and is working with U.S. state governments to have a strong real estate (commercial and residential) presence. Foreign direct investment (FDI) in the U.S. has been on a steady rise. FDI in the real estate section is also growing; 2004 FDI in real estate was nearly $38 billion, the highest since pre-9/11 ($41 billion in 2000). The U.S. remains the top destination for foreign investors due to high capital appreciation combined with market stability and security.
Interested in learning more on FDI?
PUBLIC POLICY UPDATES
UPDATED COMMERCIAL LEGISLATIVE & REGULATORY ISSUE SUMMARIES
Read updates on Tenants in Common, Leasehold Depreciation, OCC rulings allowing banks to develop real estate, and more.
CAPITAL FLOW TO COMMERCIAL REAL ESTATE AT RISK
Proposed guidance on commercial real estate lending by federal regulators
might slow the flow of capital
to commercial real estate and potentially depress property values, NAR says in comments to the Federal
Reserve and other banking regulators. The regulators' guidance promotes internal risk management practices for banks managing a concentration in commercial real estate loans. Regulators say they're concerned about banks' susceptibility to market fluctuations. But when you add that guidance to requirements for restructuring regulatory capital under new industry rules called the Basel I-A accords, capital flows get put at risk, NAR says.
View NAR's comments.For more info, CONTACT:
Tom Heinemann, 202/383-1090.
SMALL BUSINESS NEEDS HEALTH COVERAGE OPTIONS
The health insurance system is not working for REALTORS® or other self-employed individuals or small business owners, Ed Lawler, a REALTOR® with RE/MAX Alliance in Fort Collins, Colo., told a hearing this week of the U.S. House of Representatives Workforce, Empowerment and Government Programs Subcommittee of the Committee on Small Business. In the testimony, given on behalf of NAR, Lawlor reiterated the need for Congress to even the playing field by moving on two
similar pieces of legislation passed by the House and the Senate Health, Education, Labor and Pensions Committee. Both bills would allow professional trade associations to create small business health plans that could offer association members access to collectively negotiated, uniform, national health insurance programs regardless of where the member resides. Read the NAR testimony.
Take action now!
FEDERAL TERRORISM INSURANCE
BACKSTOP NEEDS CONSIDERATION, NAR SAYS
The private sector has yet to develop an effective reinsurance market or make terrorism coverage available consistently, so a federal role providing reinsurance is an appropriate consideration in trying to solve insurance issues raised by terrorism, NAR told a federal financial markets working group. Insurance is a key issue for maintaining a vibrant commercial real estate market. NAR also told the group, called the President's Working Group on Financial Markets, that private insurers are unlikely to develop coverage for
nuclear, chemical, biological, or radiological attacks. The group has until Sept. 30 to provide President Bush with its recommendation on a long term insurance solution. Access NAR's letter on the Federal Terrorism Insurance backstop. CONTACT: Tom Heinemann, 202/383-1090.
RESEARCH, RESOURCES, LEGAL
NEW HOME FOR COMMERCIAL REAL ESTATE RESEARCH ON REALTOR.ORG
Bookmark this page on REALTOR.org as the new place to find all your commercial real estate research resources, including the new Commercial Leading Index.
LEASING COMMISSION DENIED FOR FAILED OFFICE BUILDING TRANSACTION
A federal
appellate court has considered whether a Georgia commercial broker could recover a leasing commission when the client filed for
bankruptcy protection, causing the transaction to collapse. The court considered whether the Broker could recover under a quantum merit theory. A quantum recovery allows recovery for the value of the services provided if the services were performed in expectation of receiving payment and the recipient of the services should have known that the other party expected to be paid. To find out why the
quantum
recovery was denied, read more in Letter of the Law.
ANALYSIS OF FCC REVISED FAX RULES
AVAILABLE
The Federal Communications Commission has revised its fax rules, as required by the Junk Fax Prevention Act of 2005. The rules incorporate many of the arguments made by NAR during the rulemaking process and in general are favorable to REALTOR® associations and real estate professionals. Access an analysis of the FCC rules by NAR Legal
Affairs.
NAR RELEASES WORKING PRINCIPLES ON EMINENT DOMAIN
NAR Government Affairs
has released a new paper, "Working Principles on the Use of Eminent Domain," to help REALTOR® associations evaluate eminent domain legislative proposals introduced in their state legislatures and decide how to position themselves on the bills. The working principles are grouped into two categories, General Working Principles and Working
Principles Applicable to Use of Eminent Domain for Economic Development. For more info, CONTACT: Bob McNamara,
202/383-1268.
AFFILIATE NEWS
NEW IREM REPORT ADDRESSES CRITICAL ISSUES IMPACTING COMMERCIAL REAL ESTATE PRACTITIONERS
What's keeping you up at night? What challenges do you face in your work world? If your answers include technology, workforce development, business competition or risk management, then you've got a new and insightful information resource to turn to. All of these issues are addressed in a new IREM report "Transforming Real Estate Management: Four Critical Issues." While these issues were identified from a real estate management perspective, the report contains information
and problem-solving approaches that apply to all sectors of commercial real estate. The IREM report is available at no charge, in PDF format, at http://www.irem.org/pdfs/iremfirst/irem4issues.pdf.
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.
To ensure that you continue to receive e-mails from the National Association of REALTORS®, please add us to your to your e-mail address book.
Unsubscribe from this e-mail newsletter.
Manage E-mail Preferences:
To change your e-mail address, or manage your subscriptions, you will need to
log in to your REALTOR.org account.
Customer Support:
Visit our customer support page for help with your account.
Privacy Policy
Please do not reply to this e-mail. This mailbox is for distribution only.
NATIONAL ASSOCIATION OF REALTORS®
430 N. Michigan Avenue
Chicago IL 60611
800/874-6500
www.REALTOR.org
|