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"Commercial Real Estate Adapts to Change!"

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Dewey Struble Photo
12/4/98 Interview with Dewey Struble

P.O. Box 388
Reno, NV 89504

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The Direction for Commercial Real Estate

  1. In the last nine-twelve months, mainstream C/I professionals have fully bought into the technological revolution that the more technically oriented types have been pioneering for several years.
  2. Of the 20%-30% who still lag behind, probably half will finally be drawn into technological strategies and half will probably leave the industry.
  3. Of the 6,000+ CCIM designees, about 66% have email addresses; of the 5,000 candidates (a younger group) probably 80%-85% have email addresses.
  4. Communication technology - primarily email - is the central tool for Commercial professionals; the more savvy are also competent in using the Internet to access information.
How the Institute Has Adapted to Rapid Change

  1. The first challenge was to get the organization to recognize the need for change and to bless the concept of communicating in a different way; that achievement resulted in a burst of growth.
  2. Parts of the membership recognized that email and other forms of technology were becoming vital to the way they conducted business; they prodded the Institute to take a leadership role for the industry.
  3. The goal for the CCIM web site has been to make the database as interactive as possible; members can search for other members by whatever parameters they want - specialty, ZIP, state, city, etc.; a quick and powerful email list can be developed to promote a property of interest to the defined group.
  4. One key to keeping the database updated is the fact that members can edit their own information to keep it absolutely current.
Non-Member and Public Use of the CCIM Page

  1. The CCIM Network is the property information service within the site of where members can list properties but anyone can look and search; beyond its general availability, it is intended to set a standard for commercial listing services.
  2. The CCIM Network promotes interaction and deal making among CCIM members, non-members and public investors - immediate email contact and/or web site link with the listing member is possible.
  3. Within the CCIM page is the backup capability of mapping, pictures, etc.
New Commercial Page from the NAR

  1. Commercial Source is a new RealSelect page that provides one direction for the dissemination of information.
  2. The page offers comprehensive access to the five major sources for Commercial Internet listings and wants: CCIM Net, SIOR, COMMREX, LoopNet and A
  3. By the end of the year, CIREI plans to make it possible for members, at the time they enter a property onto CCIM Net, to enter it also at the push of a button onto some of the other major services.
The Challenge of Commercial Property Information

  1. The industry still needs to increase its support for Internet listings of properties; some companies and individual pros remain resistant - tending to hold prime properties back because they think they can market them traditionally; the notion that there is an advantage in "owning" information about a property is naive.
  2. Demand by the majority of Commercial clients to know how an agent will market a property technologically will ultimately motivate Commercial professionals to maximize use of technology and will improve the quality of Commercial property information and service to the public.
  3. The Society's new Commercial Marketing Wizard (soon to be launched) will take Real Estate pros step by step through creation of a connectivity marketing campaign.
The Residential Advantage in Adapting to Cyberspace

  1. The transition to cyber techniques has been easier for the Residential industry because computerization of Multiple Listing Services blazed the trail 15 years ago; accessing commercial information by computer has not been widespread.
  2. Use of RealSelect has benefitted from the push of the NAR among its members, plus the comprehensive listing information that flowed naturally from the residential MLSs.
  3. CIREI's addition of the button on its web page to get members' products exposed more widely, faster and better is a good first step to improve Cyber efficiency on the Commercial side.
Impact on the Operation of Commercial RE Offices

  1. The industry has already become a global business; technology has been the prime mover in shrinking the world.
  2. Polarization of service providers is likely, with the big operators becoming bigger and stronger, and the small ones becoming more savvy and more specialized in niches.
  3. Referral business is multiplying rapidly; a logical development is the formation of teams throughout the industry; big offices will have their own teams, but small players - because technology allows them to network - will coordinate their work with other specialists.
  4. Large offices and organizations are beginning to recognize the need to have internal technical specialists as architects for their information systems.
  5. The ultimate availability of unlimited Real Estate information to anyone will raise Commercial industry standards to a higher level; business success will be a function of adding value to information in providing savvy, professional service to clients.
Advice to Young, Newcomers to Commercial RE

  1. Embrace the technological advantage you have but recognize that the industry wisdom and people skills required for success develop over time.
  2. Training courses such as the CCIM requirements offer invaluable professional information; gaining the designation also projects a professional image.
  3. Continuing education is important at all levels of your career in Real Estate - even after achieving CCIM status; organizations such as CIREI and the Society are worthwhile resources that help you continually regenerate yourself.
Contact Information for Dewey Struble:

(v) 702-329-9555
(f) 702-747-2393

Real Estate Sites & Tools in this Briefing:

CCIM Network
Commercial Source
SIOR Online
A BigDeal