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The COMMERCIAL COMMITTEE agenda featured two major guest speakers on industry trends and issues with the potential for broad impact. Doug Curry, CEO of Xceligent™ presented an update on the current status of litigation between Xceligent™ & Costar, pressing upon committee members the possible effects of the outcome on all commercial real estate professionals. A key takeaway for members was the awareness that their action is needed to help ensure there are options in the marketplace for obtaining researched property data and for marketing property listings; members are encouraged to add their listings to CommercialSearch.com, the second largest commercial property listing platform with over 500,000 listings. In addition, local associations with CIEs can support members by feeding listings to CommercialSearch.com, boosting exposure and service. Following, Randy Scheidt, Chair of the Strategic Thinking Committee introduced Stefan Swanepoel, Swanepoel T3 Group, who shared the findings of the Commercial ALERT report, commissioned by NAR to explore potential roadblocks that could impact the commercial real estate industry in the coming years. The research centers around key areas including capital markets, technology, e-commerce, sustainability and more. Swanepoel reiterated this was a massive and complex undertaking, which is fundamentally representative of the scope of the commercial real estate industry. One encouraged direction is for members to share this report with their spheres of influence and encourage discussion around the potential impact of some of the future trends suggested, and how to prepare or change course to navigate with a successful outcome. Members can download the report for free at nar.realtor/commercial.
“Year over year, the number commercial practitioners at the NAR meetings is growing…both in numbers and involvement. We are proud of this success and thank everyone for their dedication!” –Beth Cristina, ALC