Categories Economy, Narrative, Uncategorized

Who Will Be the Uber of CRE?

Anytime you look to the future, the word disruption always enters the conversation. I spend way more time now looking at companies that are trying to disrupt the brokerage business than I ever did in my entire career. As a 25-year CCIM, I found the below article worth sending out as one of my narratives. Many of these trends apply to other businesses, but are particularly interesting for commercial real estate.  So what are we doing to stay relevant? —We are hiring the best talent possible.  On our team today, we have brokers with a finance degree & 2 MBA’s, a structural engineer, a construction management degree, and an attorney.

—We have all our brokers continuously growing and learning (all our members now have their CCIM, and two have SIOR’s and CRE).
—We are providing more services and more unique processes than ever.  (Here is a link to our unique process)
Yes, there will be fallout as technology continues to evolve. We will as well.  There is one thing that never gets disrupted: relationships. In my book, Chasing Excellence, written with our Founder, Bill Lee, we have a chapter on this topic. Click here to learn more. 
Call me to start a relationship today.
Craig
602.954.3762
P.S.- How many people can say they are 2nd and 3rd generation AZ natives that donate over 1,000 hours a year to local charities? Coppola-Cheney can. Click here to hear about some of the organizations we work with/donate to.
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Disruption Ahead!

Who will be the Uber of commercial real estate? 
By Surabhi Sheth
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Feb.16
Every new generation demands and creates new ways of living, working, and doing business. Millennials, who will comprise 70 percent of the workforce by 2030, want to break free of the cubicle, and prefer an open, flexible work culture that allows them to work anywhere, anytime. To meet the needs of this new workforce, companies are leveraging technology developments – cloud computing, mobile, analytics – to create innovative products and services that, in the process, make existing business models obsolete. For instance, startup companies in the shared economy, unheard of just a few years ago, have capitalized on location technologies and transformed the local transportation and hospitality industries in cities worldwide.The commercial real estate sector is ripe for disruption, the same as many other legacy industries. For instance, high-quality Internet has enabled advanced payment systems, the Internet of Things, and geolocation services. Combined with urbanization and changing consumer patterns, these trends have the potential to redefine the commercial real estate demand-supply dynamics and business model, including real estate usage, site location, development, design, valuations, leasing, and financing. While disruptive trends abound, some are generating more energy than others in the commercial real estate sector. For instance, technology-driven disruption of the brokerage model is forcing brokerage and leasing companies to innovate from the grassroots level. At the same time, three other trends are gaining relevance: the rise of the collaborative economy, demand-supply gap in talent, and changes in the last-mile delivery options of retailers. 

The Cloud Over Brokerage and Leasing

Technology-enabled access to information that was once available to just a few – at a high price – is bringing down barriers between commercial real estate owners and potential tenants, and diluting the role of real estate brokers and leasing representatives. 39a_JF16   New entrants are leveraging cost-effective and real-time availability of property information to offer new service models that further enable this trend. For instance, property listing websites, such as Hubble and 42Floors, now provide services ranging from basic aggregation of leasable space to offering online marketplaces for owners and prospective tenants. Other companies such as CompStak and DealX are now leveraging the power of crowdsourced lease comparables and offering them for public consumption, along with information such as tenant name, rent, lease duration, and landlord concessions. Real Massive and VTS have even broader platforms, offering property listings and market and other related information to owners, tenants, and brokers. Such online marketplaces are creating data ubiquity and transparency, which is empowering tenants and property investors to make more informed decisions independent of brokers. Technology is further disrupting the traditional brokerage model. For instance, geospatial technologies help automate several activities related to site analysis, sales, and marketing, as well as provide information that allows more informed location-related decision-making for property owners and tenants. Artificial intelligence is automating tasks that in the past could only be done by humans. Likewise, online property sites are eliminating the need for the broker-mediated property tour by offering virtual tours. For example, the Brazilian real estate website VivaReal uses a remote-control robot to offer virtual access to model apartments. In New York, developers are giving virtual reality tours to prospective tenants of office buildings and retail centers still under construction. While the onslaught of technology is rendering the traditional brokerage model irrelevant, it is also enabling the use of unproductive commercial real estate. Practitioners should consider diversifying their core business focus, from largely brokerage to consulting opportunities in space-need and location advisory, as well as property and facility management.

Client relationship management will hold the key to success. Similar to consulting firms, brokerage firms will need to shift their service model from regional to central client relationship management. Existing brokers can use innovative services, capitalizing on their prior experience and client relationships. For instance, companies can combine their rich bank of tenant data with geospatial and cognitive technologies to generate better insights on future real estate choices. 40a   Traditional players can also consider investing in or collaborating with startups to meld client relationships with new tools and technologies to offer the best of both worlds.

The Collaborative Economy

The commercial real estate sector as a whole is poised for a transformation as collaborative space usage gains ground. Many new players are capitalizing on this trend. For instance, one company leases large office spaces and subleases them on demand. In the retail space, online marketplaces such as Storefront offer a platform to brands, designers, and artists to find physical retail space for short duration pop-up stores. The collaborative economy can optimize rates on short-term spaces and create more value as it helps tenants obtain space that closely aligns with their needs. However, current leasing and tenant approaches lack the flexibility to accommodate tenants’ varying demands. In response, traditional commercial space owners may have to rethink their approach to designing, developing, and redeveloping their properties. Along with fluid spaces, companies will need to consider new ways to enhance tenant experience. For example, in office properties, a hybrid approach may be the way forward, with a mix of long-term leases for core spaces and short-term flexible leases to manage ups and downs in workforce numbers.

The Talent War

Slowing population growth, the baby boomer retirement wave, and talent demands from competing industries – particularly health care, community services, and science, technology, engineering, and mathematics clusters – are likely to result in a war for talent in the next decade. That gives new emphasis to the workplace preferences of the incoming generation of professionals, the millennials, who tend toward freedom and flexibility. Their work-life barriers are porous, with many preferring to work from home or freelance. As such, the per-employee office space requirement is likely to shrink. According to a Deloitte Canada report, the average office space per employee is projected to decline from 250 square feet in 2000 to 150 square feet in 2017, and 90 to 100 square feet in companies that have nimble workplaces. The upshot may be a demand for mixed-use spaces that include office, residence, and recreation options with many tenants even demanding small offices in their apartments. As the war for talent intensifies, talent dynamics should be an integral factor in location-based decisions, especially for office property owners. Companies should estimate the future workforce using existing employment data and evaluate areas where knowledge workers are likely to live, work, and play. These may be close to the regions where they study and grow, such as cities with strong academic components.

The Last Mile

Growth in online retailing is redefining the use of brick-and-mortar stores, with retailers increasing focus on enhancing customer experience. Further, 3D printing will enable manufacturers to move to a build-to-order model rather than build-to-stock, which will allow them to sell directly to consumers. Indeed, retailers and some retail real estate owners are using different and flexible delivery options such as same-day or next-day delivery to create differentiation at the last mile. 40b While brick-and-mortar stores will remain integral to some retailers, their utility will continue to evolve. They are likely to be used primarily for products that require touch and feel, or have significant service components. Overall, demand for traditional retail spaces will be weak. That said, retail properties will be utilized in different ways. They could double up as fulfillment centers, especially for commoditized products that do not necessarily require touch and feel for purchase decisions. Further, on-demand retailing and manufacturing will reduce inventory holding, and potentially the demand for large warehouse spaces. Retail property owners should continue to try different store formats, tailored spaces, and innovative techniques to enhance the end-customer experience. This would require incumbents to embrace sophisticated technologies. Distribution and fulfillment centers should be a prominent part of industrial real estate owners’ property portfolios. As existing industrial property owners plan new development, they will likely benefit from acquiring and developing smaller and more flexible spaces within city limits that meet the demands for rapid delivery to end consumers. Clearly, the physical and digital worlds are fast blurring. Technology, which is at the center stage of the current wave of disruption, also has the potential to help commercial real estate players meet these challenges. Companies will have to re-engineer operations and figure out optimal ways to organize and access talent. Bottom line, existing commercial real estate players cannot afford to ignore this disruption: The choice is between responding proactively to the evolving business landscape or risk being disrupted by the new entrants. 

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Categories Architecture, Narrative, Uncategorized

17,000 Manhattan Buildings Could Not Be Built Today

Big cities like New York, San Francisco, and LA have always fascinated me from a real estate perspective. To buy land, design and build buildings is a complex process. Zoning and city planning alone create innumerable obstacles for developers due to the limited amount of space.

New York City’s zoning code turns 100 this year, and below is an interesting article about why many of its buildings could not be built today–in fact 40% (17,000 buildings) of them.  Why?

–Too tall
–Too dense (I figured this would be one)
–Don’t conform to zoning code (this is huge—check out the red dots below)  

 We have come a long way in city planning. At what price?  Read on to see some real life examples of projects, and give me a call or respond to this email if you have any interesting examples you would like to share with me. 
Craig
602.954.3762
ccoppola@leearizona.com


40 Percent of the Buildings in Manhattan Could Not Be Built Today

By QUOCTRUNG BUI, MATT A.V. CHABAN and JEREMY WHITE

New York Times
May 20, 2016

These are buildings that do not conform to New York City’s zoning code for at least one reason.

Because They Are Too Tall …

These tend to be apartment buildings concentrated on the Upper East Side and Upper West Side.

Or They Have Too Many Apartments …

The West Village and Chelsea are the biggest offenders in terms of density.

Or Too Many Businesses …

Technically, too many square feet dedicated to commercial uses. Mostly concentrated in Midtown and the East Village.

But They Made New York Great. (Sometimes.)

New York City’s zoning code turns 100 this year. That may not sound like cause for celebration — except maybe for land-use lawyers and Robert Moses aficionados. Yet for almost every New Yorker, the zoning code plays an outsize role in daily life, shaping virtually every inch of the city.

The bays and cliffs of the Empire State Building come from zoning, as do the arcades and plazas of Park Avenue. The code gave us Zuccotti Park and Billionaire’s Rowthe quietude of Greenwich Village and the bustle of the High Line, the glass towers now lining the formerly industrial waterfront and the portion of subsidized apartments that fill them.

New York’s zoning code was the first in the country, meant to promote a healthier city, which was then filling with filthy tenements and office towers. Since it was approved in 1916, the ever-evolving, byzantine code has changed many times to suit the needs of a swollen metropolis. Just in March, the administration of Mayor Bill de Blasio won approval for a vast citywide plan that would encourage sleeker, more affordable developments.

Yet many of New York’s buildings remain stuck in the past.

Whole swaths of the city defy current zoning rules. In Manhattan alone, roughly two out of every five buildings are taller, bulkier, bigger or more crowded than current zoning allows, according to data compiled by Stephen Smith and Sandip Trivedi. They run Quantierra, a real estate firm that uses data to look for investment opportunities.

Mr. Smith and Mr. Trivedi evaluated public records on more than 43,000 buildings and discovered that about 17,000 of them, or 40 percent, do not conform to at least one part of the current zoning code. The reasons are varied. Some of the buildings have too much residential area, too much commercial space, too many dwelling units or too few parking spaces; some are simply too tall. These are buildings that could not be built today.

It is important to note that these estimates rely on public records that can be imperfect. Still, while the data may at times be imprecise, it allows for an insightful view of zoning in New York.

Many buildings in distinctive Manhattan neighborhoods like Chinatown, the Upper East Side and Washington Heights could not be erected now: Properties in those areas tend to cover too much of their lots (Washington Heights), have too much commercial space (Chinatown) or rise too high (the Upper East Side). Areas like Chelsea, Midtown and East Harlem, on the other hand, would look much as they do already.

“Look at the beautiful New York City neighborhoods we could never build again,” Mr. Smith said. “It’s ridiculous that we have these hundred-year-old buildings that everyone loves, and none of them ‘should’ be the way they are.”

As the zoning code enters its second century, it is worth considering the ways it has shaped the city; whether and where it is still working; and how it might be altered so the city can continue to grow without obliterating everything New Yorkers love about it.

A New New York Would Be Less Dense

19jones-photo.jpg 19 Jones Street in Greenwich Village.Pablo Enriquez for The New York Times

On the cover of “The Freewheelin’ Bob Dylan,” there on the right side, its cornice almost grazing the N in Dylan, stands 19 Jones Street. It is one of the thousands of buildings in Manhattan with too many dwelling units for its size.

Built in 1910 as a tenement, 19 Jones Street predates the zoning code by six years. It belongs to a special family of tenements known as dumbbell apartments, so named because of the way the buildings are squeezed in the middle, creating air shafts. Such openings were a requirement of the Tenement Housing Act of 1879, meant to make tightly packed apartments a little bit more livable.

19 Jones Street
Current Building vs. If Built Today

Were 19 Jones built today, it would have to be significantly smaller. The number of apartments would fall sharply, to just eight from 24. The building’s total dimensions would be nearly halved, and a story or two would have to be chopped off.

New York’s zoning rules were intended to create less cramped quarters, but they also have consequences for the number of aggregate apartments in the city. Such limitations can quickly decrease the supply of housing, and most likely drive up rents. If every tenement in the city were reconfigured in these ways, they would be less crowded, but there would also be fewer apartments to go around.

 New New York Would Be Shorter

720park-photo.jpg
720 Park Avenue on the Upper East Side.Pablo Enriquez for The New York Times

Problems persist at the other end of the real estate spectrum.

Take 720 Park Avenue, a Rosario Candela classic from 1928 that rises 17 stories and has only 29 units — one of which, a 7,000-square-foot duplex, recently came on the market for $22.5 million. All that grandiosity is too much for modern zoning, which now constrains such boxy, bulky buildings in this part of town.

The city’s first zoning code was enacted as New Yorkers began to worry that tall buildings would cast the city into eternal darkness. People feared the spread of bulky skyscrapers like the Equitable Building, at 120 Broadway in the Financial District. Rising 42 stories and 538 feet straight up from the street in a hulking limestone slab, it spread a seven-acre shadow over downtown when it opened in 1915.

720 Park Avenue
Current Building vs. If Built Today

In response, the city included a setback rule in the zoning code the next year, which required buildings to step back as they rose. It helped create that familiar saw-toothed shape beloved in so many prewar skyscrapers as well as the ersatz ziggurat in shorter structures like 720 Park.

Yet changes brought about with the 1961 zoning overhaul and tweaks since would create a very different 720 Park today. First, it would have to be much shorter on the 70th Street side. And, since this building reflects a previous era’s rules on bulk and density, it would have to slim down along Park Avenue, as well.

The rules were dreamed up by planners in part to ensure that historic buildings would not be replaced with something totally out of context, like the skinny towers now springing up on 57th Street. Yet they also ensured that many of the existing structures that made up that context would eventually be out of context themselves.

But a New New York Will Still Look a Little Old

Both 19 Jones Street and 720 Park Avenue belong to a vast group of buildings in New York City that are treasured for their architectural value and historical significance. They persevere out of genuine appreciation but also the zoning quirks that determine the fate of almost every building, new or old.

Nearly three-quarters of the existing square footage in Manhattan was built between the 1900s and 1930s, according to an analysis done by KPF, an architecture firm based in New York. In a way, the zoning code helps to preserve such architectural diversity. The laws have gotten more restrictive over time, giving an edge to properties built in earlier eras.

Not all buildings are worth keeping. In Midtown East, many nonconforming structures have low ceilings and columns that make them unappealing to new businesses. Some developers have gone so far as to demolish all but the bottom quarter of their buildings, and then build up from there, allowing them to retain the old zoning for their plots so as not to sacrifice a single square foot. The city is currently reconsidering a proposal that would allow these buildings to be rebuilt to their original size and possibly even larger.

It does not have to be this complicated. In honor of the code’s 100th anniversary, the Municipal Art Society of New York has called on City Hall to consider overhauling the code in a way that would make it intelligible to all.

“To understand zoning, you have to have a law degree, it’s so convoluted and so dense,” Mike Ernst, director of planning at the civic group, said. “The whole process of how buildings get built these days is so confusing and opaque to people. There really should be more transparency, so people can have an understanding of what the future holds for their city.”

Note: Data do not reflect zoning for quality and affordability or mandatory inclusionary housing laws, both of which would have a small impact on Manhattan. Illustrations by Mika Grondahl.

 

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Categories Narrative, Uncategorized

Employee Engagement Sucks. Why?

I spend a ton of time working with my team on growing their individual skills, increasing our deliverables and really making sure we are engaged. As we work with big and small companies and I talk to our clients, engagement has become one of the most desired (and least attainable) traits in companies today. A few years ago, Gallup blew everyone out of the water with its first State of the American Workplace in 2013. Sadly, there has not been much change in the past 18 months. The war for talent is hot and getting hotter. How we all perform is directly attributed to our teams.
 
Below is a good summary on why engagement is not getting better and some suggested changes to your management style and methods. Winning the war for the best people is a start. Then you have to engage them. I can tell you unequivocally that my team is the best in the business and they are engaged. I am also happy to discuss how we hire, what we do to train and how I know my above statement is true. 
 
Read below for more. Of course I have highlighted for easy reading using two colors to separate some interesting statements and some suggested changes you can make in your organizing to get on the right path for engaged employees.

Craig
602.954.3762
ccoppola@leearizona.com


 

Employee Engagement Isn’t Getting Better And Gallup Shares The Surprising Reasons Why

 linkedin_logo_1
By: Mark C. Crowley
Dec 9, 2015

Employee Engagement 6

American business is losing its war on engagement.

As a quick reminder on why we took up arms in the first place, it was June 2013 when Gallup first released its State of The American Workplace study that revealed only 30 percent of the nation’s workers were fully engaged in their jobs.

Since then, companies have gone on to launch all kinds of well-intended missions, campaigns and strategies, all with the goal of upending apathy, discontent – and the low discretionary effort too often displayed by their rank and file employees.

Yet despite all these noble and seemingly effective efforts, we’re confronted with a sobering truth: we’ve gained very little ground.  According to Gallup, growth in engagement has remained flat for most of 2015 – and we’ve seen little more than a two-point increase over the past two and one-half years.

Employee Engagement Graph 3
“How could this possibly be?” is a question many people will be asking, particularly if their organization’s deployed significant resources to rally back their troops.
 
To help me provide the most informed answer, I recently met with Dr. Jim Harter, Gallup’s engagement Jedi for the past three decades. I asked him to weigh in on why engagement remains such a critical metric for organizational success, why we have so little to show for all the additional focus that’s been given to improving it – and to share some of the uncommon things high-performing companies have discovered move the engagement needle in a more meaningful way.

One thing’s for certain. Traditional leadership practices have produced the enemy that is low engagement. To defeat it, we must have the courage to reject many of our archaic methods, and to adopt ones known to have the greatest impact on inspiring human performance in the workplace.

Why The Engagement Metric Matters
When Gallup began measuring engagement in the 1990’s, scepticism about the meaningfulness of the metric was common. But over time, as other well-known research organizations initiated their own studies, it’s become much more widely accepted that engagement elements predict how well an organization will perform – all the way down to the bottom-line.

According to Harter, “those outcomes range from basics such as absenteeism, employee retention rates, service levels and productivity; and ultimately it all adds up to about a 22 percent difference in profitability when you compare top quartile business units to the bottom quartile.”

Most Organizations Are Just Moving Peas On Their Plate
Perhaps the biggest reason engagement hasn’t budged is because many organizations are under the illusion that they’re already succeeding.

“What a lot of companies have done,” says Harter, “is to simply replace the terminology for their annual survey and call it an engagement instrument. Making things worse, they vary widely in terms of their definitions and what they measure. A whole lot of things are now being called engagement that shouldn’t be.”

Very often, Gallup finds that the hodgepodge of questions being asked produces greatly inflated engagement scores that create a false comfort. “Reporting high numbers seems to make a lot of leaders feel good,’ says Harter, “but those won’t get them where they need to be.”

It may also come as a surprise that the top organizations Gallup works with have just 65% of their workers fully engaged. While this number is twice the national average, and is inherently best-in-class, it belies what many of us imagined represented the highest level of success.

Engagement’s A Big Ship That Won’t Move Quickly If All We Do Is Measure It
I asked Harter if he was surprised that the engagement needle hadn’t been more significantly improved over the past 30 months, and he reminded me that big ships don’t turn quickly. “When you’re changing the culture of a working population, it’s going to take time.”

Nevertheless, the best companies Gallup works with consistently see a 7-to-9 percent improvement in a given year, and it’s because they intentionally align their performance management so that everything they do is on the same path. Stressed Harter, “the employee engagement survey is not treated separate from everything else they’re trying to get done.”

The rapid progress of the most successful organizations led me to wonder if most American companies have really begun taking engagement seriously. And Harter had this rather unambiguous answer at the ready: “I’d say it’s serious enough that it’s become a check-the-box HR activity, but not serious enough to have a meaningful impact and raise their score.”

To get engagement moving – and for all employees to believe its something to which the organization is fully committed – “it really needs to start at the CEO and executive level,” Harter told me. “The reason is that people need to know that it’s a firm expectation to which every manager and leader in the company is fully accountable. The gap today is that engagement’s being consistently surveyed, yet few companies have created the culture that lines up with their expectations.”

Most Perks Have Modest Impact
Gallup is surprisingly indifferent to perks noting that they’ve proved to be neither a cure-all to an ineffective boss, or even an influence on high achievement. Perks often give workers joy and convenience, but they don’t prove to retain people.
But extensive research has revealed two particularly valuable insights: 

Engagement Has The Hallmarks Of Flow: “When people work too many hours, don’t have enough vacation time or are expected to look at e-mails after normal work hours,” says Harter, “the data shows their stress levels increase significantly. But we’ve discovered that employees who have the right work environment, and who are truly engaged in their work, really manage that stress.” Said another way, being engaged in one’s job directly influences feelings of well-being even when that job is especially demanding.

Flex-Time Is A Great Perk: Harter told me he does some of his most important work from his home office, and for 30 years Gallup has afforded all of it’s workers tremendous work-day flexibility. “Letting people work from home some days, arrive at work later to avoid a tedious commute or stay home with a sick child – these accommodations are highly valued by people. What makes it so meaningful is that it’s individualized. Employees know that you’re intentionally being supportive of them, and those feelings drive up engagement.” Harter insists that this flexibility must be accompanied by accountability, yet people often work harder in response to caring support.

Engagement Largely Comes Down To Whether People Have A Manager Who Cares About Them, Grows Them And Appreciates Them
“We’re now at just 32 percent engagement; and for all the people in management roles today, this is their scorecard,” says Harter. “There’s simply no question that managers are one of the top root causes of low and flat-lined engagement.”

The clear implication is that many people in managerial positions are failing for one of two reasons. They either lack the skills needed to effectively motivate people to perform, or they lack an understanding of what practices consistently drive workers to become fully engaged.

We think high-performing managers have five talents,” says Harter. “These are leaders who not only engage their teams, but who consistently drive high productivity, service levels, retention and profit:

  1. They’re motivators. They’re excellent at challenging themselves and others to improve.
  2.  They’re assertive. They push past obstacles and make tough decisions.
  3. They accept accountability. They create processes to help their team deliver on goals.
  4. They’re relationship builders. They’re naturally good at personalizing how they manage.
  5. They’re decision makers. They have a natural capacity to solve complex issues and plan ahead.

 
Remarkably, Gallup’s discovered that only twenty percent of the entire population possess all these talents – that they’re hard-wired into very few of us. And even with focused training, only three-in-ten people will ever successfully master all five.

Consequently, if organizations really want to see their engagement skyrocket, their first and most important step going forward must be to ensure only people who demonstrate these unique abilities ever get promoted into management roles.

But for companies who are truly committed to driving uncommon engagement, they must raise the bar even further. That’s because there’s another traditionally unappreciated quality that’s been consistently proven to turn managers into talent magnets: they care deeply about their people.

“They share, teach, coach, support, and appreciate their employees,” Harter told me. Regardless of what’s on their plate, they invest the time to know their people personally, what motivates them – their career dreams and aspirations. And “this kind of nurturing is the undercurrent of all five talents.”

Within its 12-question engagement survey, Gallup asks workers whether they “feel someone at work cares about them as a person.” And as soft as this one question may seem, it’s proven to have a direct impact on a multitude of hard business outcomes including employee retention, discretionary effort – and profit.  The key take-away from all of this: Managers with highly engaged teams intentionally lead with heart.

Conclusion
While American businesses have taken aim at improving engagement for quite some time now, meaningful progress has so far proved illusive. So I asked Harter if Gallup would put out a challenge for 2016:

“Assuming companies really got behind it and began to adopt many of the practices known to greatly improve engagement, how much higher could the US score be at the end of next year?”

“If the commitment is really there, we could hit 40% engagement by next December, Harter insisted. “And if we get there, we’d all have a tremendous achievement to celebrate, not to mention some great organizational success that will undoubtedly come with it.”

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Categories Narrative, Uncategorized

Post China 16

Below is a infographic on the Post China 16 (PC 16) that fascinated me.  I know that China’s maturation has jumpstarted manufacturing growth in other countries.  What I didn’t realize is the sheer number of countries affected.  See below to grasp the number and diversity.
 
These countries include:
 
–All of Indonesia
–Cambodia and Vietnam
–Eastern Africa
 
Finally, some good news for those of us living in Arizona – Mexico is on the list.  In a future narrative, I will talk about the Maquiladora program. Having Mexico increase their world prominence in manufacturing would be great for Arizona and the United States for all kinds of reasons.

Craig
602.954.3762
ccoppola@leearizona.com


Post China 16 3

Source: Bill Koenig, Of Interest Today

Click here to view image larger.

To see the full report conducted by Stratfor, pleaseclick here.

Categories Narrative, Uncategorized

Hiring a RE Expert for Litigation

The first 15 years in brokerage, I occasionally took assignments as a real estate expert in litigation. I stopped for a number of reasons, but primarily because I could not figure out how to be great at brokerage and be great as a real estate expert in litigation. I know only a small portion of the readers will find this article and summary interesting today. BUT, keep it around; You will probably need it sometime in the future. Below my bullet points is a great article with highlights covering the subject in much greater detail. (Please click here for the entire article.)

–Criteria to look for in an expert – Knowledge, skill, experience, training or education.
–Other factors — Make sure they look the part, have good eye contact, and they are credible and objective.
–When to engage — Early in the process. An expert might be able to help with deciding if the case has merit or if the potential outcome is worthy of the time and energy necessary to litigate.
–How to find an Expert — A referral from someone you know is always best. Other ways are outlined in the article.
–Conflicts — I found this spot on: “Surprisingly, while attorneys are governed by strict ethical rules, conflicts-of-interest rules for experts are virtually nonexistent. Experts rely on their credibility and reputation…”
–Fees — Most are paid by the hour.
 
Hopefully, you’ll never need an expert. If you do, I hope this helps you get to the right person that can help you down the path.

Craig
602.954.3762
ccoppola@leearizona.com

P.S. Two weeks ago, I did a video interview along with Jay Olshonsky, President of NAI Global, called Brokers Unplugged: A Candid Conversation. If you’re interested in our latest thoughts, click the video below. I think you’ll enjoy it!

Spring 2015 SIOR Globe St Interview

 


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Weekly Narrative