RealComm 2004
By Eugen Klein,
B.Comm(UREC), CRES, ARM®, RI(BC), FRI
Real Estate Broker
Twenty Years ago, realtors would be seen carrying a large book filled with all the current listing and sales information – the Catalogue. The information was privileged, very hard for the average investor to track down. Many realtors would only let their very best clients glance at the Catalogue to look for the best opportunities.
Today, the internet, has dramatically changed the role of the broker. Investors now have access to thousands of properties for sale with varying levels of detail. Sure, much of the private income information and particulars about the property are still not published, but the awareness of the opportunity is. Investors are noticing two hurdles: first, as before, many of the best properties never make it to market and are sold; second, investors are being bludgeoned by so much information that many come to me to scrutinize the numbers and present the best option available.
The investor today is looking to be better informed and more involved in the acquisition or selling process. The concept of the NextGen Broker does not necessarily mean the broker with all the newest gadgets and gizmos, but more so the utilization of the technology to deliver, as efficiently and timely as possible, the best information. The NextGen Broker will be the professional who can deliver ample, accurate market information before the decision has to be made, dig through the masses of information to find the best opportunities and to stay in touch with the client from the introduction, through the offer and post closing process. In last year’s survey by the National Association of Realtors (NAR) over 78% of the consumers said that they would have used their previous broker again; only 19% of them did because they did not hear from them after the sale. The better we are connected to the client the better client retention we have.
A few highlights from RealComm 2004:
• CIO Roundtable – commercial real estate boards and associations gathered to talk about information sharing, new technologies impacting our clients and our fellow brokers, the nature of information published on the internet. Talk about the future of the industry was also a main focus of discussion.
• 100+ leading vendors representing the most innovative ideas in the industry
• Document automation pavilion featuring the latest products, services and case studies
• “Intelligent Building” Center Stage – presented by Cisco and Hewlett Packard
• “Business Automation” Center Stage presented by Property Line
• “Virtual Concierge” – a glimpse into the future of property management
Technology, business solutions, intelligent buildings and the internet are now the mainstream of business conversations inside the commercial real estate industry.
They exposed recent trends in the commercial real estate industry:
• Weak technology firms are gone from the real estate market while the strong are growing
• Smart commercial real estate companies never stopped automating after the dot.bomb period
• The NextGeneration intelligent buildings discussion has begun
• Commercial real estate data standards groups reaching new levels of acceptance
• The paperless/digital paradigm tipping point is in sight (music, video, paperless firms)
• Asia is beating US and Canada in vision and innovation as it relates to NextGeneration buildings and cities
So what can we expect in the next 12 months, Realcomm experts gave a few indications:
• Many industries will continue to eliminate paper in their business processes
• Due to impressive results by early adopters, accelerated adoption will follow
• The fiber across the ocean and strong work ethic will increase international competition
• NextGen buildings will begin to be recognized and new performance criteria defined
• The gap between those real estate firms that “get it” and those who do not is growing
• Data standards in the industry will take hold and become an influence in business solutions
• Asia, Europe and the Middle East will continue to lead in innovation in NextGen projects.
Editorial
In the month of June, from the 3rd to the 4th, I found myself in San Francisco attending Realcomm 2004. Realcomm’s mission is to provide a single place where industry leaders can come together to discuss, analyze and debate the latest technological innovations that are impacting the commercial real estate industry.
This year, I attended the conference with several fellow directors of the Real Estate Board of Greater Vancouver Commercial Division and still found that there is too much to see and do at Realcomm. This conference is a must-attend for all real estate brokers; with technology now so intertwined in our business information is being demanded at a rapid rate from our clients.
You will find that recent issues of my newsletter have a host of new listings. We are making a push to raise our inventory to over 100 listings – so you will be able to get a good feel for the variety of opportunities our current market has to offer.
Contact me with any of your questions or concerns regarding the disposition of your commercial investments or business.
Eugen L. Klein
B.Comm (UREC), CRES, ARM®, RI, FRI
[email protected]
Tel. 604.818.5888
Tel. 1.800.818.8599
Gender Roles
Currently, about the same number of men (49 per cent) and women (51 per cent) are first-time homeowners; however, the gap is set to widen as women become an increasingly significant part of the market. Among those who have never owned a home and said they will potentially purchase their first property in the next three years, 55 per cent are women and 45 per cent are men.
While buying a first home was traditionally the domain of newly married couples, the market is now accommodating a broad range of entry-level buyers, including never-married single women and men, divorced parents with children who are making their first purchase alone and unmarried couples.
“We have seen a marked change in the attitudes of women toward homeownership over the past several years,” said Phil Soper, president and CEO of Royal LePage Real Estate Services. “Traditionally, marriage came before the mortgage, but goals have clearly changed. Women are using their purchasing power to invest in real estate and have little trepidation about doing it alone.”
The most surprising finding of the study was the reorganization of more “traditional” life priorities, particularly among female respondents. While 15 per cent of men planning to buy in the next three years said they would be “very likely” to forgo a wedding reception to put a larger down payment on their first home, the number jumped to 30 per cent for women when asked the same question.
Royal LePage, August 31, 2004.
Fighting Fad Diets
Confusion prevails because of information overload
Most of the popular diet books are not based on scientific evidence but on the often unscientific and well-marketed opinions of the authors.
The media adds another twist to the information by focusing on some flashy detail of the research or controversy surrounding this “new” weight loss phenomenon. Writers and publishers have their own interests to further the sale of their products or books.
All of this makes the facts pretty difficult to sift out of the vast amount of reading material available.
A good way to weed out “fad” diets is to watch for statements like “weight loss is effortless,” or, “you will keep the weight off forever” and “these foods are bad for you.” These promises often can’t be substantiated. Beware also of diets that recommend you eliminate an entire food group, are advertised late at night on television, or demonstrate results with “before” and “after” pictures.
by Ali J. Chernoff
Registered Dietician & Nutrition Consultant
604.321.8008 [email protected]
Properties:
1. BROADWAY MIXED-USE COMMERCIAL
18.73 acres; Restaurant & Pub; 3.2 Acre lots; 26 Suites; Private Chalets; Canada Select 4 Star
2. TRUCKING TRANSPORT BUSINESS
Serving all major southern BC highways. 17 years uninterrupted growth; 13 trucks in fleet.
3. MANUF. BUSINESS W/LAND
45,000 sq. ft. building on a 3 acre parcel. Crane installed, major contracts in place; business turn key.
4. ABBOTSFORD WAREHOUSE
2 levels, 10,000 sq. ft. warehouse, 4,000 sq. ft. office, in I2 zoned 3 yr old building. 22’ clear ceiling height; close to freeway.
5. CHILLIWACK INVESTMENT
First office/retail building adjacent to CFB Chilliwack – largest development in Lower Mainland.
6. CHILLIWACK INVESTMENT
Second office/reatail building adjacent to CFB Chilliwack – largest development in Lower Mainland.
7. CHILLIWACK INVESTMENT
Third office/reatail building adjacent to CFB Chilliwack – largest development in Lower Mainland.
8. ABBOTSFORD AUTO MALL
30,000 square feet available for lease. Ideal for showroom or auto service/acessories. Can be subdivided as required.
9. WHISTLER LIGHT IND./COMM.
Lease: 40,000 sq. ft. available, max 15,000 sq. ft. contiguous – Opposite future sight of Olympic Village & 600 new res. suites.
10. MULTI FAMILY – FRASER VALLEY
Class A residential building; generating 7.4 % Cap, Low vacancy rates & stable tenancies.
11. GLOBALSAFE DISTRIBUTORSHIP
Exclusive distribution rights for revolutionary safety/cleaning product; Lower Mainland, Vancouver Island, Southern BC, North-Central BC
12. GLOBALSAFE DEALERSHIP
Cleaning & safety product endorsed by top international insurers – reduces slip fall claims. Profit $1 per sq. ft. treated.
13. FOUR STAR RESORT HOTEL
Revelstoke, BC, 18+ acres of land, solid revenues winter and summer; major ski development nearby approved.
14. PICTURE FRAMER / GALLERY
Business running for five years, three at current location; net income ~ $45,000
15. SOUND STUDIO W/BUILDING
State of the art sound equipment, 100,000+ owner improvements to building; owner will stay on to manage business.
16. SEAFOOD RESTAURANT
Heart of Walnut Grove; 50 seats & patio. Sales average $700 per day, open for breakfast, lunch & takeout.
17. COFFEE BAR – FRANCHISE OP
Established club with loyal clientele. Minutes from downtown Surrey. Excellent lease 5,000 sq.ft.; Completed full renovations.
18. TACO TIME
Three franchises available singly or together, Coquitlam, New Westminster, Langley. Excellent family-run opportunity.
19. ENGLISH LANGUAGE SCHOOL
Two locations: downtown Vancouver and New Westminster. >40% cap.
20 LANGLEY MULTI-FAMILY:
40 suites on 3.2 acres, 6% cap. at below market rent (no increases for past 4 years). Current zoning for 80 units, OCP mandates 160! Tremendous value rezoned.
WANTED
Vancouver residences for land assembly
WANTED
Industrial building; south side of Fraser River, 1.5 acre lot with building preferred
WANTED
20,000 – 30,000 sq. ft. retail location in close proximity to downtown: lease or buy
WANTED
Mobile home parks, 30-60 units; waiting list of buyers!
Testimonials
“We are writing to you to express our gratitude for your significant contribution to the MLS link project. For the first time in our history, REBGV will be implementing a new MLS system. This project will be the most important change in services REBGV has made on the way members do their business and we know from other Boards that have gone through this that it can be very traumatic. With input from members like you we hope to minimize or eliminate that trauma.
Thank you again for giving so generously of your time and expertise.”
Bill Binnie
President, Real Estate Board of Greater Vancouver
Bob Wallace
Executive Officer, Real Estate Board of Greater Vancouver
“I have only had the pleasure of knowing Eugen Klein for nearly a year now and yet I feel strongly compelled to document what a remarkable agent and person he is. Rarely does someone come along who attacks life and business with such zeal. “
B. Mark Thiessen
Commercial Real Estate Broker
Past-Chair Commercial Division, Winnipeg Real Estate Board
“I have known Eugen Klein for approximately fifteen years. I am impressed by his commitment to life and all its opportunities and challenges. By my experience he is hard working, honest, intelligent, sincere and courteous.”
John Windsor, R.I.(B.C.), F.R.I.C.S.
President, North American Property Corporation
Community:
My ‘Community’ section is dedicated to the extraordinary people who have contributed to my life with exceptional service. I would like to share my good fortune of knowing them with you. Please feel free to convey my recommendation.
BARFLY
Mr. Jesse Bannister
New Westminster (604) 519-0333
BANK OF MONTREAL
Mr. Joe Corrado & Mr. Mark Tower
Vancouver (604) 665-2682
CAPITAL WEST MORTGAGE
Mr. Daymon Eng
Vancouver (604) 899-3799
CHARTERED ACCOUNTANT
Mr. Grant Gilmour
Langley (604) 888-4200
CIBC RESIDENTIAL FINANCE
Mr. Adam Beaudin-Ball
West Vancouver (604) 981-2549
CIBC RESIDENTIAL FINANCE
Mr. Derek Christiansen
Vancouver (604) 220-6161
COMFORT INN
Mrs. Valerie Orr
Vancouver (604) 605-4339
COMMERCIAL MORTGAGES
Mr. Gary Khangura
Vancouver (604) 879-0235
CYPRESS INSPECTIONS LTD.
Mr. Noel Murphy
West Vancouver (604) 312-8606
DIGITAL PRINTING
Mr. Jason Romo
Vancouver (604) 420-3400
FLOWFORM DESIGN GROUP
Mr. George Verdolaga
Vancouver (604) 321-8008
GRAPHIC DESIGN & ART WORK
Mr. Denis Meyer Jr.
Burnaby (604) 777-0550
MAHOVLICH MARBLE & GRANITE
Mr. Frank Mahovlich
Vancouver (604) 293-0093
MCKITRICK CLARK MCLEOD
Mr. Bruce J. Preston
Vancouver (604) 736-6717
NATIONAL HOME REVIEWS
Mr. Dean Kazoleas
Vancouver (604) 681-2108
PINK LIME SALON & SPA
Mr. Youssef Jawhari
Vancouver (604) 683-7444
POPCORN CREATIVE
Mr. Simon Dabbs
Vancouver (604) 408-7767
RENOVATIONS & APPRAISALS
Mr. Chris Lewin
North Vancouver (604) 562-5799
SCOTIA MCLEOD
Mrs. Vanessa Stenner-Campbell
White Rock (604) 535-4749
VANCITY CREDIT UNION
Mr. Joe Chan
Vancouver (604) 877-8296
VANCITY VENTURE CAPITAL
Mr. Axel Christiansen
Vancouver (604) 877-6582
The Team
Eugen L. Klein
B.Comm (UREC), CRES, ARM®, RI, FRI
Broker
email: [email protected]
Cell: 604.818.5888
Toll Free: 1.800.818.8599
Direct: 604.691.6622
Fax: 604.691.6688
Michael Mustard
B.Sc(Hons)
Associate Broker
Licensed
email: [email protected]
Direct: 604.691.6660
Fax: 604.691.6688
Please do not hesitate to call me at 604.818.5888; it is my pleasure to serve your real estate needs. Please visit us on the world wide web at www.eugen-klein.com
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