Practical Aspects of Operating in Today's Commercial Real Estate World
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In today's evolving commercial real estate (CRE) landscape, staying informed and adaptable is crucial for success. With over 40 years of experience, Patricia Lynn, CCIM, founder of ExceedCE , offers insights into the state of the industry, the skills necessary to succeed, and the trends shaping the future. 1. Understanding the Current Market Climate Inflation and interest rates have been major concerns. According to Urban Land Institute’s 2024 Emerging Trends in Real Estate survey, respondents believe the worst of inflation is behind us, and more opportunities for acquisitions are emerging. As cap rates rise and property values stabilize, 2024 could offer prime opportunities for buyers looking to enter the market at favorable price points. 2. The Importance of Market Knowledge Successful brokers, especially during downturns, are those who position themselves as market authorities. Whether working with investors or users, having a deep understanding of market