Lawmakers are considering bills which could change assessments for large retail stores, limit retainage provisions and would create the offense of criminal building management. Read the full overview here. (Members only)
One of the largest real estate conferences in the world, MIPIM brings together more than 20,000 people interested in buying and selling property. Illinois REALTORS® sent a delegation to market the REALTOR® brand and the state of Illinois.
Commercial Podcast: Power Working to Achieve Your Ideal Work Week
Listen to NAR's Commercial Connections podcast hosted by Illinois REALTOR® Alex Ruggieri, CCIM, a frequent contributor to Illinois REALTOR® magazine's Commercial Corner. In this podcast, Alex has a conversation with Jill Duemeland, CCIM, on how to achieve success while still achieving an ideal work week.
REALTORS® Work to Improve Watershed Management Ordinance in Cook County - The measure was the subject of a Call to Action by the Illinois REALTORS®' Cook County members, and on Oct. 3, the Board of Commissioners passed the proposed Watershed Management Ordinance.
Section 8 Voucher Holder Now a Protected Class Under Cook County’s Fair Housing Law - Read the Illinois REALTORS®' Q&A on the issue and make sure you are following the law.
Lease Accounting Progress
NAR Treasurer Bill Armstrong updates members about progress on lease accounting, as well as new legislation introduced in Congress to reauthorize terrorism risk insurance for commercial properties.
U.S. EPA Delays Lead-based Paint Rule Regarding the Application of the Renovation, Repair and Painting (RRP) Program to Non-Residential Properties
In 2011, the U.S. Environmental Protection Agency proposed a Rule which would extend the agency's lead paint regulations applicable to renovation activities to non-residential properties. After a year-long consideration and discussion, the USEPA has delayed issuance of the rule for at least 3 years. As a result of a new settlement agreement signed this past summer, EPA will now propose a combined interior/exterior public and commercial building lead paint RRP rule on July 2015. Rule is scheduled to be final in July 2016. Regulated stakeholder groups, including the National Association of REALTORS (NAR) in D.C. have been meeting with EPA to get a better idea as to what kinds of information they need from the industry for this rulemaking. The current research/science related to lead hazards and children in commercial and public buildings is essentially non-existent (as admitted by EPA's own science advisors). NAR will continue to oppose this proposed Rule.
Commercial Member Profile Report
Based on a random sampling of NAR’s Commercial members, the 2013 Commercial Member Profile gives a detailed overview of a variety of demographic characteristics and business practices of REALTORS® who specialize in commercial real estate. This infographic presents a sample of data from the report. Read the full report here.
Young Professionals in Commercial
This issue of Commercial Connections ask some young agents who have made an impact in the commercial world how they have been able to learn from and keep up with their more experienced colleagues.
Commercial Real Estate Investors Eager to “Turn the Page”
Frustrated by continued uncertainty, a sluggish recovery, and a challenging investment environment, investors generally appear eager to put the past behind them and adjust to the new normal. Download a free copy of the new "Expectations & Market Realities in Real Estate 2013 - Turn the Page" report, published jointly by the Real Estate Research Corporation (RERC), Deloitte, and the National Association of REALTORS® (NAR).
Commercial Vacancies Decline: Rents Rise
Vacancy rates are expected to decline in all sectors of the commercial real estate market over the next four quarters while rents will increase, according to NAR's latest commercial real estate forecast. The average apartment rent is expected to increase 4.1 percent this year and climb another 4.6 percent in 2013.
NAR partners with Xceligent, Inc. to assist commercial REALTORS®
Services offered by Xceligent—a top commercial real estate information services provider and newest REALTOR Benefits® partner—will include a Broker Loaded Platform, Research Platforms, and a Public Search Service. More details will be coming soon. Watch this video from NAR to learn more.
NAR’s 2012 Commercial Real Estate Lending Survey finds that while commercial real estate markets began to recover in 2011 and demand is expected to grow this year for all property types, tight lending standards continue to be an obstacle. Link to the full survey.
Study shows devastating impact of lease accounting rules. Read the latest from the National Association of REALTORS® on pending legislation and the proposed Lease Accounting rule. Download talking points (pdf).
NICAR covers the Chicago area with news and events of interest to commerical members.
The National Association of REALTORS® provides reports, education opportunities, advocacy information and news on its website.