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Yesterday I had the privilege of speaking with Rick Lackey, president and founder of Real Professionals Network. RPN provides a mastermind orientation for commercial real estate professionals across several markets in North America. I have known Rick for several years, but never had the chance to attend on of RPN’s meetings until recently when Rick traveled to Raleigh.
I was immediately drawn to the intensely focused discussion on local real estate issues. Frankly, I was a little embarrassed, as I had little knowledge of the details the group addressed (my focus tends to be more national). For those of you who are looking to expand your network, and reach/secure information to leverage for better prospecting – I highly recommend RPN.
During my visit to the Raleigh RPN meeting, Rick presented his review of national markets and highlighted the key trends that will impact all in attendance. Afterwards, I invited Rick to share these insights with our audience (see below for link to full video recording).
Here are 5 big trends we can expect next year:
1. Industrial is white hot. While multi-family remains the darling investment property type for many, industrial assets are in high demand in several major and secondary markets.
2. “Eds and Meds” continue to attract. High growth cities are characterized by those with growing University and Medical communities.
3. “Constration”. Construction prices will continue to rise; they are inflated by the weather events in Houston, Miami, and Puerto Rico. Sheetrock and labor are flocking to these areas leaving the rest of the country paying more for resources.
4. Migration to the Core. Office and residential developments will continue in both core markets and core cities.
5. Rules and Regs. More specifically, the pending tax changes could have significant impact on us, our clients, and each other’s respective businesses.
Here are 3 more ways to build your personal business and income in 2018:
1. I will be presenting a free weekly webinar, every Thursday starting TODAY December 7th at 1:00 pm EST. This webinar, “18 Strategies to Maximizing Commissions in 2018”, will be repeated each Thursday through January 11th – to register click here.
2. If you haven’t already, please download our free ‘7 Days to Your Best CRE Year Yet’ program for your use. It’s a great tool for your entire office and/or team. In years prior, we sold this program for hundreds of dollars; this year we want to be sure everyone sets themselves up for a great 2018. Click here for access to this free program.
3. Finally, for those of you who are ready to transform your commercial real estate efforts into a thriving, consistently growing personal business – click here to schedule a free strategy call with one of our program consultants.
P.S. To see the entire session with Rick Lackey and our discussion on market trends, check out our private CRE Mastery Facebook group. This group includes over 600 committed commercial real estate brokers who are exchanging business building ideas each and every day. To join them, click here.