25 Quick Takeaways from the SVN 2020 Annual Conference
By: Robert J.Pliska, CRE, CPA, MBA: Owner/Managing Director SVN Property Investment Advisors, LLC Birmingham (Detroit), Michigan
The SVN 2020 Annual Conference was held in Palm Springs, California. The conference included many outstanding speakers such as Kevin Maggiacomo, Josh Linkner, Michael Lipsey, Steve Williams, and Barbara Gray. There were many commercial and investment real estate, economic and company updates.
25 Quick Takeaways from the 2020 SVN Annual Conference
1. SVN continues to rank as a top commercial real estate brand in independent surveys.
2. SVN is comprised of commercial real estate advisors and staff in more offices in the U.S. than any other commercial real estate firm and continues to expand across the globe
3. SVN proactively promotes properties and shares fees with the entire industry.
4. SVN has an office in the top 100 local markets in the U.S.
5. “Great moments are born from great opportunities” – Herb Brooks’ quote from the U.S. hockey Olympic gold win – applies to the current status of the current commercial and investment real estate market.
6. The key principles of business apply to your real estate company – business plan, goals and vision.
7. “Do what you like, like what you do” is important to your success in commercial and investment real estate.
8. SVN supplies many tools and training to be successful.
9. Four traits of top producers – tenacity, self-starter, self-motivation and ability to win and keep a client
10. Five core directives – find a way, upgrade it, defy tradition, seek the unexpected, bounce back – Josh LInkner
11. By 2050, 90% of the population will live in urban areas.
12. Many cities have out of date zoning to address future requirements.
13. SVN has many specialty commercial real estate practices guided by product councils – office, retail, multifamily, industrial, hospitality, leasing, net lease, land, corporate, medical office, senior housing, property management, capital markets, accelerated sales, single family residential. build for rent, self-storage and tenant representation
14. It may be a good time to consider selling multifamily – otherwise an investor may need to wait another 10 years.
15. Office has not experienced overbuilding thereby constraining supply.
16. There is a move in medical office to “retailization”.
17. Interest rate reductions causes increases in cash on cash returns despite low cap rates.
18. There is much uncertainty at this time of the coronavirus and its impact on commercial real estate. Hotels, travel, etc could be impacted significantly.
19. Retail continues to re-adjust – on line, delivery, existing store, warehousing, experiencing, bankruptcies, etc.
20. Retail rental vs purchase of clothing and other products is becoming a trend.
21. Rent control of multifamily in several markets like New York and California is having a significant negative value impact on the multifamily product type.
22. “Crisatunity” – Crisis leads to opportunity.
23. In general, velocity of sales in commercial real estate has leveled off in the last several years.
24. Reinvestment in your business, use of an assistant and time management are important to be a top producer
25. It’s SVN time!