With commercial market data now more readily available than ever, a broker can no longer bank on being the first person (or the only person) with information. Enter the era of the market report.
“Information used to be one of a broker’s main tools,” said Peter Von Der Ahe, a vice president with Marcus & Millichap. “Now part of the service a broker provides” is deciphering the onslaught of data.
Along those lines, in the past two years, commercial brokerages — including Colliers International, Avison Young, Massey Knakal and Cassidy Turley — have all begun hosting quarterly breakfasts to tout their data.
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What’s more, despite all of these new reports, there are still major holes when it comes to key data points.
For example, “a report that needs to exist is an industrial report for the outer boroughs,” said Ben Thypin, director of market analysis at Real Capital Analytics. However, the dominant industrial firms often sell buildings through word of mouth and may not need the publicity a report provides, he said.
Read More: http://therealdeal.com/issues_articles/the-market-report-era/
Ben Carlos Thypin
I am currently the co-founder of Quantierra, the world's first data driven real estate brokerage and investment manager. In my former life as Director of Market Analysis at Real Capital Analytics, I worked with press outlets large and small to provide them with great data and insightful commentary. Here are some of the results of this collaboration. For the rest, please check out the News Archive.
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