Real Estate Zealot

Moving Ahead without the Tax Credit Incentives

Alison Brennan talks to us about how the tax credit effects home buying, as well as how the extensions affect sellers and buyers alike.  She also discusses opportunity that still exist and how to be creative without the government’s help.

 

 

METRO BROKERS INC. PROUDLY ANNOUNCES PARTNERSHIP WITH COLORADO EAGLES HOCKY TEAM

Contact: Courtney Lis Voca

PR 970.581.6231

Courtney@vocapr.com

 

METRO BROKERS INC. PROUDLY ANNOUNCES PARTNERSHIP WITH COLORADO EAGLES HOCKY TEAM

Relationship will facilitate Metro Brokers expansion and commitment to Northern Colorado

(Loveland, Colo.) - July X, 2010 – Metro Brokers, Inc. www.metrobrokersonline.com is proud to announce a joint partnership with the Colorado Eagles, Northern Colorado’s beloved hockey team based in Loveland, CO. Metro Brokers will be involved in a variety of marketing and sponsorship opportunities during the upcoming 2010/2011 hockey season at the Budweiser Events Center. Metro Brokers is dedicated to growing its membership and client base in and around Fort Collins and this relationship will help foster brand awareness for the growing real estate company in Northern Colorado.

“The Colorado Eagles have established an amazing fan base in Northern Colorado,” said Bob Luna, president, Metro Brokers, Inc. “This is a perfect venue for Metro Brokers to establish itself among the people in the community in a creative and unique manner and establish a strong identity by getting involved with such a noteworthy organization.”

As president of Metro Brokers, Bob Luna has been committed to growing its membership base into outlying areas along the front-range and this relationship illustrates their commitment to the people of Northern Colorado. A total of 9 Metro Brokers offices and 50 agents currently reside in the area.

“Metro Brokers is the ideal business model for those agents interested in controlling their own destiny,” said Doug Lindstrom, broker owner of the Metro Brokers Loveland office. “As a result, we have experienced substantial growth and success during the down market. We hope this partnership with the Eagles will prove our commitment to Northern Colorado, help us grow our businesses and foster a long relationship within our community.”

Metro Brokers Inc. provides real estate agents an independent framework to succeed through innovative technologies, brand awareness, continuing education courses and extensive multi-media mix marketing. Unlike other real estate companies, Metro Brokers Inc. is actually owned and operated by its brokers and prides itself on its strong team of agents.

“Just like the Metro Brokers organization, the Colorado Eagles are a hard working, high producing, and successful team, making this partnership a perfect fit for both sides,” said Lindstrom.

About Metro Brokers, Inc.

Metro Brokers, Inc. has been Colorado's leader in real estate, technology and services, for more than 30 years, providing the framework, structure, brand and freedom for real estate brokers to work professionally, efficiently and profitably. Our network of nearly 2,000 highly experienced real estate professionals specialize in residential, commercial and investment properties and have access to ground breaking technologies, continuing education courses, and innovative marketing that help buyers and sellers make the most of their real estate transactions. Unlike most other real estate companies Metro Brokers, Inc. is actually owned and operated by its brokers.

A Conversation about the Luxury Home Market

Alison Brennan talks to us about how the local luxury real estate market compares to the national market, and what local markets are doing better than others.  She also discusses selling in today's market, are people able to sell their property today.

Greg Morris Of Fuller Commercial - Denver Back In 2008

Greg Morris Fuller Commercial - Denver To Rebound In 2008.

BrokerIPTV : We are talking today with Greg Morris, President and CEO of Fuller Commercial Real Estatee. Greg thanks for being with us.

Greg Morris: Sure.

BrokerIPTV : I heard you speak about a couple of weeks ago, in the question out of the audience was, tell us what’s the status of commercial real estate? You are very candid, very frank, can you recap that?

Greg Morris: Sure, I guess I defined as it changing and it is changing really in three ways.

   
1. The Credit Crisis of course hurt a lot of people,      certainly in the residential, but it made, it spooked lot of lenders.

   
2. Construction cost has gone up considerably.

   
3. Finally, there is new wave of green or lean      buildings. In the green buildings are going to cost property owners a lot      to retro fit in order to be able to ad vide by the terms of the lean      buildings are establishing.

[Music]

BrokerIPTV : Why is the market so tough right now?

Greg Morris: Well, its tough because its very very competitive, but I would say it is not tough, its just intensely competitive. There is a lot of money out there, the buyers are institutional in nature, they are smart, they are sophisticated and there is lot of buyers for fewer properties.

BrokerIPTV : Agents want to know where the buyers are and why are they not out looking or dipping into their pocket for another home?

Greg Morris: Well they can get the loans like they use to. There was lot of the thing called bridge or this interim, short term financing, that’s pretty much gone away. The lending criteria today are much different than it was just 60 days ago. So, these buyers are out there, but there are not as many as they were.

BrokerIPTV : I heard to you talk a lot about the uncertainty. I mean we got oil prices up, we've got interest rates being cut, we got an election coming up, does this just make people nervous?

Greg Morris: Exactly, I don’t think there is any concrete reason why the market is fickle right now, but it is uncertain, that we don’t know who the next president of United States, is going to be a specially as democrat versus republican and that uncertainty is really frightened a lot of investors and so everybody is in a “wait and see” mode.

BrokerIPTV : What’s your biggest challenge you are facing in 2008?

Greg Morris: Well, I think continue more the uncertainty. I happen to be an optimist and I really think that in the first quarter we are going to see a market rebound. The commercial market is relatively solid across the board. The economy is relatively good right now and the only thing scaring everybody is the unknown, which is hard to put your finger on.

BrokerIPTV : Finally, we see developers still building prices, despite the scenario that you just laid out and so some of us in real-estate say “man, they are putting up another 500 units hi rise .” What do they know that we don’t know?

Greg Morris: Well, I think it depends on a product type and the commercial that is office, industrial or retail or an apartment buildings and the retail market, you don’t see a lot of retail going up right now, but you are doing the office market, because the office market is relatively tight. You have a vacancy downtown of under 10%, I think its around 8% right now. Most of the vacancy is in the C-class buildings, most demand, has been in the A-class building. If you are 15,000 to 20,000 square foot class-A tenant right now. You just can’t find this space and so that’s the reason that Heinz and Opus is currently building too about 250,000 square foot office building. So, the demand is there and they will get the rents they need. Industry was been steady in high-queue distribution warehouse space is very much in demand and that’s mostly in northeast, inadequate curses because of the transportation hub with the I-70, afraid EIA as well as rail that runs though here. So, the commercial market is not in bad shape right now.

BrokerIPTV : Greg, thanks for being with us, it was so interesting talking with you.

Greg Morris: All right.

Commercial Real Estate- Long Time Commitment For Brokers

Fuller Commercial Real Estate Greg Morris states that Commercial Real Estate is a In It For The Long Haul business. In other words, Commercial Real Estate- Long Time Commitment For Brokers

BrokerIPTV : We are talking today with Greg Morris, President and CEO of Fuller Commercial Real Estate. Greg thanks for being with us.

Greg Morris: Sure.

BrokerIPTV : Good to see you. If someone is out there thinking about getting into commercial real-estate, wants to be a commercial broker. How do they get started now?

Greg Morris: Well, first of all, it’s a long term commitment, its not something you go in for 3 or 5 years and then get out, because its not of residual value to it. The primary reasons people get into commercial brokerage is the upside in the incompetently number one, but also the autonomy. You are independent contract, you are out there on your own, you are almost your own boss, but the key to, two criteria for entry level brokerage is:

   
1. You have to specialize. It’s very very specialized,      so its by product type. I am going to be industrial broker. I am going to      work in the office market or in retail.

   
2. Just critical is being associated with mentor.      Somebody’s experience chose in the business that can teach you the ropes,      because there is not lot of structure training.

BrokerIPTV : I was going to ask you pros and cons. You have answered some of those is the con out there that people think when they think commercial still too long of a lead time. Its going to be a long time before I sell a property, how am I going to support myself?

Greg Morris: Well, there is no question about it. The entry level brokers will go two years before making any money at speaker and so the barrier to entry is very very difficult. So, it also a very left brain business, it’s a quantitative analytical business and coincidentally 90% of the commercial brokers are male and that’s because they are left brain thinkers and so, when you get in that business you better be in it for the long hall because its intensely competitive and its lot of times along between paydays.

BrokerIPTV : Who is the demographic that you are looking for in recruiting, or who is just the overall demographic of today’s commercial real-estate broker?

Greg Morris: We have a lot of success with universities. University  of Denver has got a wonderful program, the real-estate construction management does cool as great and must have 5 or 6 people from there. Also University of Colorado provide some good hirers for us and then most recently CSUs Everitt School of Real-Estate, they are on the map and they are growing and so that’s what we primarily get our brokers and possibly rate the other brokerage houses be right.

BrokerIPTV : Is it difficult to find good town, right now?

Greg Morris: It all depends on your momentum, at Fuller we have a lot of great momentum, we have a great culture, we are great organization. So, we have a lot more demands than we have supply for slots, but in some brokerage companies who are not as strong or as present in the market, they got or had a tough time recruiting, I would imagine.

BrokerIPTV : You were just talking about specialty areas and I want to end with this. If I am a commercial broker watching this today and I got to come up with the business plan for ’08, what specialty should I be heading for?

Greg Morris: That’s a good question, I don’t think its important to pick the specialty, but once you get in and have getting associated with a team or a group to make sure they have a good force. We have saying at Fuller “A good broker makes money in any market.” So, the market you pick is not important.

BrokerIPTV : Got you. Greg, thanks for being with us, always enjoyed talking with you.

Greg Morris: All right sure.