Perhaps you operate a brokerage that includes one or more agents who also sell commercial real estate. Or maybe you’re a commercial broker working independently or within a commercial firm. In any case, it’s good to know about the many ways the National Association of REALTORS® (NAR) works to enhance the opportunities for you and your agents’ success in commercial real estate.
NAR’s commercial real estate efforts have always focused on U.S.-based support, including political advocacy, research, education, networking, and more. However, as real estate markets have become more international in nature, NAR has been expanding its efforts to support commercial practitioners on a global stage.
Expand Your Network at MIPIM
Each March, MIPIM—The World’s Leading Property Market—is held in Cannes, France. One of the largest commercial real estate conferences in the world, this event draws more than 23,000 attendees, last year from 89 countries, including 2,400 investors seeking opportunities.
This year at MIPIM, NAR is hosting an expanded USA Pavilion in order to increase awareness of U.S. markets with commercial and luxury development potential, and to connect interested parties to NAR members. NAR has also negotiated a significant registration discount for members wishing to attend.
MIPIM is an excellent opportunity to meet investors from all over the world and bring business back to your local market. Registrants have access to an online networking directory, where they can create a profile and arrange appointments in advance, offering an exceptional tool for making the most of their visit.
In most other countries, professional networking involves a softer marketing style, where it’s more important to establish relationships before talking business. NAR recommends that REALTORS® introduce new acquaintances to their part of the world and talk about their business as a whole, instead of promoting specific properties.
By taking a more casual, informational approach, investors can warm up to you and what they’re learning about your market. Plus, out of more than 23,000 attendees, only about 500 are from the U.S. That means it’s entirely possible that you’ll be the only person representing your local market, offering an excellent opportunity to be “a small fish in a very big pond.”
NAR’s Commercial Real Estate Services Back in the U.S.
As already noted, most of NAR’s commercial real estate activities are focused on efforts within the United States. Chief among these is political advocacy at the federal, state and local levels.
In particular, NAR is watching closely to see how President Trump’s administration acts with regard to modifying certain tax policies (including 1031 exchanges and commercial real estate depreciation) and regulations (such as land use and zoning laws), and how these might impact business. (To keep up with the latest issues and developments, visit www.nar.realtor/political-advocacy.)
Because commercial real estate is so different from the residential side of the business, NAR also connects members to extensive educational resources. If you have agents interested in exploring commercial real estate as a career path, a great starting point is the online course Discovering Commercial Real Estate.
Commercial practitioners who are interested in building upon their knowledge and expanding their networking opportunities should explore commercial designations, numerous courses and events offered through NAR’s Institutes, Societies and Councils, including the CCIM Institute, Counselors of Real Estate (CRE), the Institute of Real Estate Management (IREM), the REALTORS® Land Institute and Society of Industrial and Office REALTORS® (SIOR).
Exclusive research reports, publications, technology and data tools are also available to NAR’s commercial practitioners. To learn more about the entire scope of NAR’s efforts to support your success in commercial real estate, please visit www.nar.realtor/commercial.
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