I’m a commercial real estate broker with one of the “Big Guys” - Ask me anything!
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[{"id": "grzxirv", "text": "Are you seeing an influx in demand for suburban office in your market in light of the pandemic?  Or is it relatively quiet relative to Indistrial?", "replies": [{"id": "grzxzsh", "text": "Quiet relative to industrial. \n\nWe are not seeing much of a shift yet in suburban office, as users continue to figure out what the future looks like for their workforce. Will they work from home, etc.\n\nHowever, industrial here is on fire - this is a product of companies learning the importance of having product at-hand, rather than relying on international and inter-Province imports \u2014 and the fact that, as industrial space in the big cities becomes harder to find, users are opting for smaller centres elsewhere in the country.\n\nIt\u2019s been a lucrative year for us industrial brokers!", "replies": [{"id": "grzz88b", "text": "Are you seeing Indistrial supply keep pace with demand?  Here (in the US) industrial is also blazing and but some supply constrained markets are missing the boat.", "replies": [{"id": "gs00qcv", "text": "Demand here is definitely outstripping supply. We are screaming for developers to come and build, as we have tenants ready to slam into them!", "replies": [{"id": "gs02o0t", "text": "What are you seeing cap rates come down to in your market on single tenant industrial?  And are you also getting hit with an epic run in sale leasebacks?", "replies": [{"id": "gs034ad", "text": "Sale leasebacks were easy a few years ago, but they have slowed own in pace. Operating expenses here are cheap so many owners opt to hold.\n\nCap rates are down to about 6%. Not really a huge change over the last year.", "replies": [{"id": "gs03iiz", "text": "That's wild.  We are seeing underwriting on 4 caps in some markets (with durable tenants) in the States.  I didn't think I'd see the day!", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "grzzxix", "text": "When are you going to jump ship to Kingsett?", "replies": [{"id": "gs00t6s", "text": "KS have great product, but I\u2019m staying put!", "replies": [], "depth": 2}], "depth": 1}, {"id": "grzzz48", "text": "Do you currently use Videoms?", "replies": [{"id": "gs00vyl", "text": "We don\u2019t, but it\u2019s a great system.", "replies": [{"id": "gs01co7", "text": "Thank you! We really appreciate it! We work very hard and believe we are helping the industry due to the travel unwillingness/restrictions", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gs006ro", "text": "Since you said anything, my family has land just off a highway in a small town behind the mall. If they were looking to sell it, how should they go about putting a value on it or finding someone to represent it. And how do they verify the agent\u2019s abilities to do it. \n\nThanks", "replies": [], "depth": 1}, {"id": "gs01cxo", "text": "An accredited appraiser would provide the most accurate value.\n\nIf you\u2019re looking for an \u201copinion\u201d of value, I\u2019d invite a few brokers along (hit up your local CBRE, Cushman &amp; Wakefield and Colliers offices); they should provide an opinion of value as part of their pitch, along with data to support their valuation.\n\nWhen determining the best broker to represent you, ask for their history of land deals - you want to look at how much they sold for in comparison to their list price, the time on market, etc. Any good broker will also happily provide a list of last clients for you to call for references.", "replies": [{"id": "gs04aid", "text": "Great. Thanks for your help.", "replies": [], "depth": 2}], "depth": 1}, {"id": "gs022r9", "text": "Perfect timing. What is a decent range for commission as a buyer's agent on a large apartment complex?\n\nI'm used to 2.5% - 3% on the residential side.", "replies": [{"id": "gs02ulm", "text": "Really is market dependent. \n\nHere we would get 2%. Perhaps 2.5% if the seller\u2019s agent was really good at negotiating fees.", "replies": [{"id": "gs03u3e", "text": "Thanks for the quick reply. The agent seems to be pretty tight with the seller, so I guess that could break either way.\n\nI am experienced with smaller MFH's as an agent, and larger properties as a lender. Buyer intends to do all their own analysis and DD, and the seller's agent is very experienced. Where can I add value to the transaction aside from finding the property, and bringing the buyer? Fully aware this will be more of a learning experience, but I also don't want to just collect a check for being a matchmaker.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gs03i4s", "text": "What\u2019s the learning curve to transition from smaller mf/residential investors into the field you specialize in? I\u2019m doing pretty well but ultimately want to make the switch to purely commercial. Just nervous of the upstart period", "replies": [], "depth": 1}, {"id": "gx8a62r", "text": "Hi - what is a typical broker commission for vacant industrial property in GTA (southern Ont) if property value is worth $5MM, $10MM, $15MM or $20MM+. Thanks.", "replies": [], "depth": 1}]