Meanwhile, at the Commercial Real Estate Research Advisory Board, the meeting was very well attended by Commercial REALTORS® from around the country along Institute Affiliates, most notably CCIM. In attendance were 2016 CCIM National President, Steve Moreira, and 2017 CCIM National President, Robin Webb, as well as CCIM executives. Members of the NAR Commercial Committee were also in attendance, including Cynthia Shelton, CCIM and Lou Nimkoff, CCIM, to name a few.
CRE Advisory Board Chair, Kay Alexander, spurred dynamic conversation regarding the misaligned data that gets uploaded to CommercialSearch.com, the free commercial consumer website from Xceligent. The committee and guests discussed the desire to make this a competitive platform to Loopnet and CoStar, although it may just be a long drawn uphill battle due to the limited data stream. In smaller markets, the data can be streamed from the local MLS where commercial REALTOR® members input their listings. However, in larger markets, the MLS may not even play a role in the local commercial industry where Loopnet and CoStar are the big players.
Xceligent, the producer of CommercialSearch.com, was represented in the meeting and was able to address the committee regarding Commercial REALTOR® expectations and the plans that are forthcoming with regards to this product. A presentation and report will be presented at the next meeting in May of 2017.
The strategic partnerships of NAR, particularly for the RPR system, has already made possible the integration of Xceligent and ClientLook, a CRM platform designed specifically for commercial real estate, which are now available to Commercial REALTOR® members. As we strive to improve member services for our Commercial REALTOR® members, we know that this will require more commitment on NAR’s part to get us where we need to be in technology and services. More importantly, identifying all the REALTOR® members who practice commercial real estate is a daunting task but could very well be the foundation of NAR’s strength as a source for data and research for the CRE industry. Although this is a fact, NAR is clearly headed in the right direction with CRE, but there’s a lot more work to be done.
That being said, NAR is working closely with other industry giants to create great research material for our members and sectors outside of our membership. George Ratiu, NAR Director of Quantitative & Commercial Research, together with Jessica Lautz, NAR Manager of Member & Consumer Survey Research, presented the CRE Q2 2016 Market Trends report and the 2016 Commercial Member Profile. Download your copies today at www.realtor.org/research-and-statistics/research-reports/commercial-real-estate.
Other items discussed were the possible research on the impact of cannabis legislation (that could be passed in more states after this coming election) on CRE. Requesting a simpler NAR website landing page for Commercial REALTORS® was also discussed. The idea is to be able to simply google “Commercial REALTOR®” and get to a simple NAR page that displayed buttons to get to research reports, RPR commercial, advocacy, services and other commercial member resources.