REALTORS® Land Institute Honors 2013 Award Winners

 

farm land

 

Accredited Land Consultants (ALCs) are more than just land professionals, they are the most accomplished, experienced, and highest performing land experts across the country. They specialize in agricultural land, timberland, ranch, and recreational properties, or vacant land for developments. More information.

 

The REALTORS® Land Institute named the award winners for the 2013 Outstanding Chapter of the Year,  the 2013 Excellence in Instruction awards, and the 2013 ALC-to-ALC Networking awards, at the 2014 National Land Conference in Charleston, SC, on March 12-14. The awards are an honor among the REALTORS® Land Institute and prestigious Accredited Land Consultant (ALC) professional community.

 

And The Award For Outstanding Chapter Of The Year Goes To…

 

The Institute recognized the Iowa Chapter #2 of the REALTORS® Land Institute as the recipient of the 2013 Outstanding Chapter of the Year award. This honor recognizes a chapter that has demonstrated excellence and creativity in member retention, education, volunteering, technology, outreach, and collaboration. The Iowa Chapter is known for “doing it all” and “doing it well.”  The award was accepted by Kyle Hansen, ALC, 2013 Chapter President; Terry Pauling, 2014 Chapter President, and Molly Suarez, Chapter Administrator.

 

The Excellence In Instruction Award Goes To…

 

The 2013 Excellence in Instruction awards honored Randy Hertz, ALC Advanced, and Jim Miller, Esq. Both LANDU instructors bring quality, timely, and accurate information to their students. By updating courses and providing up-to-date technology and discussion on current industry laws, they capture the true spirit of businessmen who share and believe in the importance of knowledge and professional development.

 

The ALC-To-ALC Networking Awards Go To….

 

The ALC-to-ALC Networking awards recognized Accredited Land Consultants (ALCs) with the most lucrative peer collaboration during 2013. The deals are a clear indication of increased productivity and business expansion from networking among ALCs. Murray Wise, ALC, and Ben Crosby, ALC, won both the 2013 Largest In-State ALC-to-ALC Transaction by Sales Volume, and the 2013 Largest In-State ALC-to-ALC Transaction by Total Acreage.  The Largest National Referral for an ALC-to-ALC Transaction by Sales Volume was awarded to Randy Hertz, ALC Advanced; Terry Rupp, ALC, and Troy Louwagie, ALC. The final award, the ALC-to-ALC Networking Award for Overall Collaboration, was presented to Ben Crosby, ALC; Squire Smith, ALC; Clay Taylor, ALC; and David Hitchcock, ALC Advanced.

We offer congratulations to the winners and look forward to coming years of top-notch work from the RLI members.

(Photo credit: wangkai)

 

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15. April 2014 by Wayne Grohl
Categories: Land | Tags: , , , , , , , , , , , , | Leave a comment

Video: Excel How-To: Lease Pro-Forma

Would-be Excel jockeys, take a peek at this. It’s a 40-minute clip detailing the analysis of leases from the tenant and the landlord perspectives. Veterans and rookies alike can learn a thing or two about detailing a lease deal for either side of the table.

Learn about the major variables, learn about how tenants and landlords see these variables differently, and how the math differs between the two. When costs are shared through various means, the numbers jiggle around, and this clip shows how to stay on top of exactly that.

(The video producer is the publisher of a toolkit called REFM.com.  This post is presented as an educational item and is not an endorsement of this offering.)

 

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11. April 2014 by Wayne Grohl
Categories: Leases | Tags: , , , , , | Leave a comment

Commercial Real Estate News Roundup: April 9, 2014

Downtown Dallas in the background with the Tri...

It is time to round up all the top commercial real estate news from Arizona to Boston and back again.  Online upstarts, effective old-school boosterism, Chinese billions – it’s shaping up to be quite a week.

General
Office

 

Industrial

Retail

  • Long Island Index releases downtown retail map, Newsday, April 2, 2014 – This is how a community chamber of commerce (or similar organization) gooses leasing interest: start counting properties and economic date and publish the results.
  • In Voorhees, reinventing the mall, Philadelphia Inquirer, April 6, 2014 -When a REIT takes over a retail space, changes can be afoot. Here’s a Pennsylvania success story.

 

Multifamily

Hotel

Land

 

09. April 2014 by Wayne Grohl
Categories: News | Leave a comment

Latest Economic Census Data Release Schedule

The Economic Census is the U.S. Government’s official five-year measure of American business and the economy. It is conducted by the U.S. Census Bureau, with responses required by law.

In latter 2012, 4 million businesses were sent response forms by the Census Bureau — to large, medium and small companies representing the statistical entirety of US business locations and industry sectors.

The data set is enormous, and the rollout of the data is staggered over the next two years.

What sectors are important to you?  Look up the date below and keep an eye on business.census.gov to jump on the data as soon as it shows up.

 

Publication Series Report Title Release Date Range
Core Business Statistics Advance Report March ’14
Industry Series Utilities and Finance June ’14 – Feb ’15
Wholesale July ’14 – Feb ’15
Services July ’14 – Feb ’15
Retail July ’14 – Jan ’15
Manufacturing July ’14 – Dec ’14
Mining July ’14 – Dec ’14
Construction July ’14 – Dec ’14
Geographic Area Series Utilities and Finance Feb ’15 – Nov ’15
Wholesale Feb ’15 – Oct ’15
Services May ’15 – Dec ’15
Retail Feb ’15 – Oct ’15
Manufacturing April ’15 – Aug ’15
Mining Feb ’15 – April ’15
Construction Feb ’15 – Oct ’15
Subjects/Summary Series Industry/Product Analysis (Min & Mfg) May ’15
Subject/Summary – Construction May ’15 – July ’15
Subject/Summary Series – Manufacturing June ’15 – Oct ’15
Subject/Summary Series – Mining June ’15 – Sept ’15
Core Business Statistics Enterprise Statistics Feb ’16
Franchise Feb ’16
Subjects/Summary Series Product Lines – Retail Jan ’16
Establishment and Firms Size – Retail Jan ’16
Product Lines – Services Jan ’16 – March ’16
Establishment and Firms Size – Services Feb ’16 – March ’16
Product Lines – Wholesale Feb ’16
Establishment and Firms Size – Wholesale Feb ’16
Product Lines – Utilities & Finance March ’16
Establishment and Firm Size – Utilities & Finance March ’16
Misc Subjects – Retail March ’16
Misc Subjects – Wholesale March ’16
Misc Subjects – Utilities & Finance June ’16
Misc Subjects – Services June ’16
Core Business Statistics Bridge June ’16
Comparative June ’16
ZIP Codes Retail June ’16
Services June ’16
Annual Survey of Manufactures ASM 2013 Feb ’15
ASM 2014 Nov ’15
ASM 2015 Nov ’16
Commodity Flow Survey Preliminary Dec ’13
GAS, Hazardous Materials, and Exports Dec ’14
Economic Census of Island Areas Northern Marianas Islands April ’14
Guam April ’14
American Samoa May ’14
Virgin Islands July ’14
Puerto Rico Manufacturing Feb ’15
Puerto Rico GAS July ’15
Puerto Rico Construction Sept ’15
Survey of Business Owners Women-Owned Businesses June ’15
Hispanic-Owned Businesses July ’15
Black-Owned Businesses Aug ’15
American-Indian and Alsak Native Owned Businesses Sept ’15
Asian-Owned Businesesses Oct ’15
Native Hawaiians and Other Pacific Islander-Owned Businesses Oct ’15
Veteran-Owned Businesses Nov ’15
Company Summary Dec ’15
Characteristics of Business & Business Owners Dec ’15

 

07. April 2014 by Wayne Grohl
Categories: Research | Tags: , , , , , | Leave a comment

Using NAR’s RPR: Syd Machat, Commercial REALTOR®

Only available to REALTORS®, RPR (REALTORS Property Resource) was created by NAR exclusively for its members — a source of comprehensive data about commercial property along with state-of-the-art analytics.

A commercial professional with over 40 years in the industry, Syd Machat shows how RPR puts the critical information clients need in the right place at the right time.

Check out this short clip and see how Syd makes RPR work for him in his rural Maryland marketplace — from producing snappy pro formas to accessing accurate plat and tax boundary map overlays and everything in between.

 

04. April 2014 by Wayne Grohl
Categories: RPR | Tags: , , , , , | Leave a comment

REALTORS® Land Institute Celebrates 70th Anniversary (Part II)

 

Frederik Heller, our manager of Library and Archives here at NAR is an invaluable resource for answers about just about every historical aspect of the real estate business.  I’m happy to say Mr. Heller has contributed a fascinating article about the REALTORS® Land Institute and I’ll be posting it here at The Source in a mini-series.  Here’s the second and last installment of “70 Years Of The REALTORS® Land Institute — Plus 24 More”.  Check out the first piece here.- WG

In the years following World War I, demand for farmland was high, and values of farmland were on the rise. As interest in farm property increased and more brokers began to market themselves as farmland specialists, organizations for farm brokers began to form in Ohio, Minnesota, Missouri, and other states. By the end of the decade, farm brokers were ready to set themselves apart and establish their own national organization.

In 1920, the National Association of REALTORS® was preparing to meet in Kansas City in June for their annual convention. A farm broker from Kansas City, Wilbur J. Mansfield, met with the leaders of the NAR to present the farm brokers’ ideas. The National Association was intrigued and approved a special session focused on farm real estate issues to take place at the Kansas City convention.

Mansfield took it upon himself to send out invitations to nearly 7,000 farm & land brokers throughout the country, telling them to meet in Kansas City to explore the possibility of creating a national farm brokers’ organization. Several hundred farm brokers responded and travelled to the convention.

At the Kansas City meeting, the assembled farm brokers spelled out exactly what it was that made farm brokerage different from residential brokerage, or “lot sales”, as the farm brokers called it. C. E. Southwick, secretary of the Minnesota farm brokers’ association, explained the difference this way: “The responsibility of the farm land dealer was even greater than that of the city dealer. The latter sold a man a home but the farm dealer sold, not only a home but also a business.”

The secretary of the Ohio group also put in his opinion, saying that farm brokerage is much more involved: “When selling farm property, it involves the complete investment usually of all our prospect’s money, a move among strangers, severing of family ties and they very often have to barter their future for many, many years to complete their obligation, or purchase…”

The farm brokers argued that they were ethically obligated to increase their knowledge of their business and provide the best possible levels of service to their clients, and believed that the best way to do that was through a national organization focused on the needs of farm property specialists.

From that 1920 meeting came RLI’s ancestor, of sorts: The Farm Lands Division of the National Association of Real Estate Boards, effectively making farm and land brokerage the first recognized professional specialty in the real estate industry. The Farm Land Division was in place and fully active within a couple of years. It was considered such a success that the National Association soon decided to take the idea to the next level, creating similar divisions for other new real estate specialties, including appraisers, property managers, industrial brokers, home builders, and others.

Within a few decades, NAR’s specialty divisions evolved into independent organizations: the Appraisal Division is now the Appraisal Institute, the property managers division became the Institute of Real Estate Management (IREM), the Industrial Division is now the Society of Industrial & Office REALTORS® (SIOR), and so on. Many of the real estate specialties and related services we see today, along with the national organizations that serve and represent them, might not be there were it not for the groundwork laid by the land professionals in 1920.

But despite its influence and initial success, the National Association’s Farm Lands Division didn’t have the same happy ending as the other specialty divisions. By 1925, the Farm Division had over 1100 members, representing almost every state, but after 1925, membership began to take a nosedive. Part of the reason for that was a new policy from NAR, which required that all REALTORS® be members of their local real estate boards; many of the Farm Division’s members operated in rural areas outside the jurisdiction of local real estate boards, and this policy change, instituted in 1923, effectively disqualified them as members. Another reason for the Farm Division’s decline, of course, was economic. Decreasing farmland values, the Dust Bowl, the Great Depression all conspired to drive many farm & land brokers out of the business entirely. The Farm Lands Division pulled just about every trick it could come up with to recruit new members, but no matter what they did, their membership kept going down instead of up. By 1940, the Division had only 9 members left, and the National Association finally made the decision to shut it down.

Even though the Farm & Land Division’s story had taken a wrong turn, the ideas and concepts that started it were still strong. Farm brokerage was now an established specialty in the real estate world, and farm brokers had already experienced some of the advantages of a national organization, and they just were not ready to give it all up.

So it was only three years later that the farm brokers decided to do it all again, and they would create a stronger organization this second time around. And it all came together in almost the same way as it did in 1920. The United States was once again involved in a world war, and the demand for farm property was again on the rise. A few successful state organizations of farm brokers were in operation, most notably in Michigan, which was run by a broker from Flint named George L. Domm. Just as Wilbur Mansfield did in 1920, George Domm almost single-handedly took it upon himself to gather farm brokers from around the country to convince NAR to support their efforts in building a new national organization for farm brokers.

He showed the NAR leadership what he had done with his Michigan farm brokers organization, and how those successes could be applied nationally. The National Association was again intrigued by the possibilities, and set aside time to discuss farmland issues at its 1943 annual convention in Cleveland. Farm property specialists gathered there and passed a resolution demanding that a new national organization be formed to serve their needs.

NAR responded in January 1944 with the formation of the Agricultural Institute, installing George Domm as its first president. The Agricultural Institute went through many name changes over the years before becoming the REALTORS® Land Institute in 1985.

In his welcoming remarks at the recent RLI Land Conference in Charleston, SC, Trident Association of REALTORS® CEO Wil Riley pointed to RLI’s adaptability in serving the ever-changing needs of its members over the years. That adaptability is one of the keys to how the Institute has evolved since 1944, and an element that might have been missing in 1920. The achievements of Wilbur Mansfield and George Domm and all of the men and women who have joined RLI over the years have built a strong, resilient, and truly member-driven organization.

02. April 2014 by Wayne Grohl
Categories: Land | Leave a comment

The Extinction Of Shopping Malls?

Shopping mall

Tea leaves at the ready, quite a few heavy hitters in commercial market prognostication have envisioned the US marketplace circa 2039. One in particular caught my eye:

As Ken Riggs, CEO of Real Estate Research Corp. puts it: ”Most shopping malls will be extinct,”

“[The shopping center market] has been a Darwinian environment since the 1990s with the advent of big-box retail and the ‘Wal-Marting’ of the world—and it will stay that way.” In other words, expect malls to continue their decline due to the rise in e-commerce, with only those consistently producing very strong revenues still doing business in 25 years.”

(Over)supply And Demand

If you ask me, there’s two problems with this: Darwin’s concept is misapplied here (actually the phrase is attributed to a different scientist named Spencer.) “Darwinism” is regularly misapplied in business writing to mean “survival of the fittest”, e.g. describing an arena where competition and inexorable laws of supply and demand settle all questions of capital allocation. That implies a efficient market. But nobody could look at shopping malls nationally and imagine that it’s an efficient marketplace: generally speaking, supply is so heavy and demand so comparatively flexible and spotty — again, I’m speaking nationally in the aggregate because many individual markets are different — that the only thing you can say about its efficiency is that its’ efficient at building shopping centers.

The “Walmarting” or consolidation of the retail marketplace is what happens when aggregate consumer demand remains unsatisfied and needs a new home.  That’s happens when it makes sense to aggregate that demand under one roof.  But we have plenty of indications that demand itself isn’t being shifted per se, but was overestimated in many places.  Waves of closures such as the recent ones of national chains lead us in this direction.

In fact, there are national numbers that imply that supply of retail space in the US was on the high side to begin with.  According to the 2007 Economic Census, there were 1,122,703 retail establishments in the United States and a total of 14.2 billion square feet of retail space. That means that there was approximately 46.6 square feet of retail space per capita in the U.S., compared to two square feet per capita in very rapidly growing India, 1.5 square feet per capita in Mexico, 23 square feet per capita in the United Kingdom, 13 square feet per capita in Canada, and 6.5 square feet per capita in Australia.

These things say “correction” to me. New Economic Census numbers could illuminate this further when they begin appearing later this year.

Not A Zero-Sum Game

But the shifts in shopping centers and the role of demand isn’t the only place where the predicted death of the shopping center falls short.  It’s in the claims about electronic commerce.

I agree that twenty-five years of growth in e-commerce is likely to come, and that some of that will be at the cost of traditional retail. Yet we have to remember that brick and mortar vs. e-tailing is not a zero-sum game all the way.

The fundamental need of Americans to put their hands and eyes on products hanging on racks, to travel, to make a day of it, to, in a word, shop in the physical world, is in my opinion unlikely to radically diminish in twenty-five years. The industry may have overbuilt retail space, but it hasn’t overestimated what the personal automobile and consumer freedom really imply: choices for consumers are the life blood of our consumer economy. To the degree that electronic commerce has displaced purchasing in physical locations, it’s because of the net addition of choice and an opportunity for convenience.  That doesn’t mean every choice made is best made online. Far from it: we will always have physical bodies and needs beyond what shipping goods can deliver.  We will always need to spend time with some prospective purchases.

Extinction for shopping malls just isn’t in the cards.

Shopping mall (Photo credit: pix.plz)

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31. March 2014 by Wayne Grohl
Categories: News | Tags: , , , | 1 comment

Wingmen Never Wing It

Decorated Combat Fighter Pilot turned nationally recognized motivational speaker Lt. Col. (Ret.) Rob “Waldo” Waldman recently gave the keynote address to commercial practitioners in last week’s Century 21 Commercial Conference in Las Vegas. During his talk Waldman zeroed in on characteristics that build a dedicated team, the combat veteran pulled no punches when talking about what it takes to have those who work with you become your wingmen, that is to say , have your back in obtaining the same goals.
Weaving in his personal hurdles (a claustrophobic F-16 pilot?) and combat stories he connected to the audience immediately with some very good and straight forward advice.

-Your commitment affects other people: It should come as no surprise that a fighter pilot with over 65 combat missions is not a fan of indecision or lack of resolution. As his commitment, and those of his wingmen, affected the outcome of the troops in battle so it is in business and commercial real estate world. From a leadership standpoint, you must show commitment to the mission.

Lt.Col.(Ret.) Rob "Waldo" Waldman

Lt.Col.(Ret.) Rob “Waldo” Waldman

- Loyalty: Show your team that you value them as employees, people, and respect the hard work they put in. It will give them a reason to fight for you, even when things are not clear cut.
- Mission Focused: Be willing to make the tough decision, even if it means risking relationships. Trust that those in your team will help you see your blind spot and call out what needs to be done to complete the goal.
Find out more about Rob “Waldo” Waldman and his story at www.yourwingman.com.
Century 21 agents can find out about future events at www.century21events.com.

28. March 2014 by Jorge Rivera
Categories: Broker, Careers, Community, Conferences, Development, Education, Young Professionals | Leave a comment

REALTORS® Land Institute Celebrates 70th Anniversary

English: Englefield estate Some paddocks and g...

Land: The basics of our business.

Frederik Heller, our manager of Library and Archives here at NAR is an invaluable resource for answers about just about every historical aspect of the real estate business.  I’m happy to say Mr. Heller has contributed a fascinating article about the REALTORS® Land Institute and I’ll be posting it here at The Source in a mini-series.  Here’s the first installment of “70 Years Of The REALTORS® Land Institute — Plus 24 More” – WG

 

The REALTORS® Land Institute (RLI) is celebrating 70 years of serving and representing the country’s land professionals. In January 1944, the National Association of REALTORS®’ Board of Directors met in Chicago and approved the formation of an Agricultural Institute, to meet the “growing demand for a strong national association of all farm brokers.” By June, the Institute had already established its first two chapters (Michigan and Iowa), changed its name to the Institute of Farm Brokers, launched its newsletter service, and was busy recruiting members.

 

But although RLI as a national organization got its start in 1944, their story actually began many years earlier. And that story doesn’t just tell how RLI came into being — RLI’s story also tells how the real estate industry came to look the way it does today. Land professionals and RLI played a vital role in shaping the real estate landscape and in the development of the REALTOR® organization.

 

To find out how the idea that evolved into RLI originated, we have to set the time machine back a few more decades. It’s important to understand first that when the National Association of REALTORS® was founded in 1908, real estate was a completely different world than the one you enjoy now. There was no 30-year mortgage, no real estate license laws, no Code of Ethics, the term REALTOR® didn’t exist, and even written contracts and multiple listing were relatively new concepts.

 

The job of a real estate broker was also much more all-encompassing than it is today. In 1908, real estate professionals didn’t refer to themselves as residential brokers, or commercial property specialists, or farm brokers. A real estate broker’s job often included work with all types of property, along with appraisals, mortgage finance, zoning, subdivision development, and other duties that we consider separate professions today. Property specialties and niche marketing were not recognized concepts at that time. If your job was concerned with any aspect of the transfer of real property from one owner to another, you were a real estate broker. The National Association of REALTORS® was organized in 1908 to give a unified voice to the general real estate broker, no matter what aspect of real estate they dealt in.

 

Right after World War I, however, that generalized notion of the real estate broker began to change, and it was farm and land professionals who first brought about that change. The majority of NAR’s first members came from urban and suburban areas, but it was the brokers in rural areas who first set themselves apart as a specialized branch of real estate practice. They came to understand that their businesses and clients were different from those of real estate brokers in the cities. They dealt primarily with farm and ranch land, and their clients were mostly farmers and others who lived and worked on the land.

 

Watch for the next installment of Fred Heller’s “70 Years Of The REALTORS® Land Institute — Plus 24 More” right here at The Source

 

 

 

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27. March 2014 by Wayne Grohl
Categories: NAR Research | Tags: , | 1 comment

Commercial Real Estate News Roundup: March 25, 2014

Location in Dallas

Location in Dallas (Photo credit: Wikipedia)

Pundits parse tea leaves, Baltimore Class A industrial properties draw a crowd, AirBnB keeps up the disruption, and farmland tops the list of good investments.  All this and more in this week’s commercial real estate news roundup.

General
Office

Industrial

Retail

Multifamily

Land

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25. March 2014 by Wayne Grohl
Categories: News | Tags: , | 1 comment

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