eXp Commercial is one of the fastest-growing national commercial real estate brokerage firms. The Chicago Multifamily Brokerage Division focuses on listing and selling multifamily properties throughout the Chicago Area and Suburbs.
National Year-Over-Year Multifamily Rent Growth at 8.4%, Down from 9.4% in June
WASHINGTON – Today, Apartments.com – a CoStar Group company – released an in-depth report of multifamily rent growth trends for July 2022 backed by analyst observations.
“Throughout the month of July, while multifamily yearly rents continued to perform well above historical averages, the deceleration of rent growth quickened at a time when markets typically post their best results,” said Jay Lybik, National Director of Multifamily Analytics, CoStar Group. “The deteriorating rent situation highlights a significant collapse of demand in the sector when new unit deliveries are projected to hit 230,000 in the second half of 2022.”
SUNBELT MARKETS REMAIN IN TOP 10, START SEEING DRAMATIC PULLBACK
According to Apartments.com, Sunbelt cities dominated the top 10 rent growth markets in July with eight out of 10 located within the region. Florida continued boasting seemingly strong demand with four of the five top markets located in the state, including Orlando, Fla.; Miami, Fla.; Fort Lauderdale, Fla.; and Palm Beach, Fla.
However, the markets with the fastest growing rent in 2021 are now experiencing the quickest pullback. For example, Palm Beach has seen a dramatic slowing of growth with year-over-year asking rents decreasing from 30.6% in Q4 2021 to 12.7% at the end of July 2022. Tampa and Las Vegas have also seen rents retreat by over double digits so far this year.
BAY AREA MARKETS BUCK DOWNWARD TREND
On the flip side, the San Francisco and East Bay markets challenged the downward rent growth trend. San Francisco’s average asking rents are now just $18 below their all-time peak of $3,116 in Q2 2019 as rents rose 40 basis points over the past 30 days to 5.0%. The East Bay also held strong at 5.5% throughout the month of July.
MONTH OVER MONTH DATA PAINTS A DETERIORATING RENTAL MARKET PICTURE
Analysts have found that looking sequentially, 12 markets saw absolute asking rents decline over the past month, the first occurrence since 2020. Miami led the charge with average asking rents down $11 during July, in addition to five markets that reported no change in rents over the last 30 days.
The stark reversal for Sunbelt markets can be seen vividly in the month-over-month chart. Markets that saw negative or flat rent growth in July are dominated by Sunbelt locations, including Fort Lauderdale, Austin, Orlando, Charlotte, and Tampa, amongst others.
With the spring/summer leasing season appearing to be significantly lacking demand, the risk of rents falling below CoStar’s current year-end forecast of 6.3% is growing. Over the next few months, analysts will be watching the state of the multifamily market and keeping a close eye on Sunbelt markets that are taking a turn.
Inflation trend may be turning the corner. The headline Consumer Price Index in July was up 8.5 percent compared to a year prior, a deceleration from the 9.1 percent year-over-year jump recorded in June. This slowdown was driven predominantly by a month-over-month decline in energy prices, led by a 7.7 percent drop in the gas price component of the index. The costs of other items, most notably food, continued to rise, however. Setting aside energy and food, core CPI advanced 5.9 percent year-over-year in July, matching the pace set in June but below the 6.4 percent, year-over-year increase reported in March. Stability in the core index paired with a smaller rise in the headline rate suggests that inflation may have peaked, likely a reflection of less impeded supply chains and tightening monetary policy.
Supply chains factor into inflation, and industrial space demand. While the collective 225-basis-point increase in the federal funds rate so far this year is weighing on borrowing activity, it is not the only factor contributing to decelerating inflation. Supply chains are also showing improvement. The transit time between shipping goods from China to the U.S. has declined from a pandemic peak of 83 days to 63. While still above the pre-2020 norm of 48 days, this shift is nevertheless helping supply better meet demand, softening upward pricing pressure. Adapting to these challenges has translated into a robust uptake in industrial space. Absorption has been elevated since mid-2021, driving the national vacancy rate down 120 basis points year-over-year in June to 3.7 percent, its lowest level since at least 2000. Record construction should help stabilize availability this year, with competition by tenants propelling asking rents up by double-digit percentages.
Additional quantitative tightening is still on the docket. While slowing, inflation is still high, which will likely prompt the Federal Reserve to raise the overnight lending rate again in September. Next month the Fed will also double its level of balance sheet reductions to $95 billion in monthly volume. Long-term interest rates, such as the 10-year Treasury, will likely feel upward pressure as a result. The combination of elevated inflation and climbing interest rates will be a challenge for investors, however, the market has already begun to recalibrate. In some cases, prices are being adjusted or buyers are reducing leverage. Investors may also be considering new locations or asset types. Overall, the market is liquid, with investors holding favorable long-term outlooks.
Additional CRE Trends:
Multifamily outlook is largely unfazed. The impact of high inflation and rising interest rates is so far not having a substantial impact on the underlying need for housing. Demand for apartments surged in 2021, with net absorption eclipsing 650,000 units, nearly double the previous peak. That metric has been more tempered in the first half of 2022, due in part to delayed eviction proceedings, as well as limited options for prospective tenants. June’s 3.2 percent national vacancy rate was a three-decade-plus low for that time of year. Tight availability aids rent growth in the near term, while a structural housing shortage also lends strength to the outlook for the next three to seven years.
Lower fuel costs boost hospitality outlook for rest of year. The energy component of CPI, which was up 43.5 percent year-over-year in June, took a notable step down last month, with prices falling across oil, gasoline, and natural gas. This shift bodes especially well for travel. Hotels have already seen increased bookings throughout the year, despite higher fuel costs. June occupancy was just above 70 percent, a pandemic-era first, even with an average daily room rate more than 15 percent above the same point in 2019, which helped compensate for higher costs. The ability to reprice rooms on a daily basis can also appeal to investors concerned about short-term cash flow during elevated inflation.
0.0%
8.5%
Change in CPI from June 2022 to July 2022
Year-over-Year change in CPI as of July 2022
* CPI as of July, 10-year Treasury as of August 10
Sources: Marcus & Millichap Research Services; Bureau of Labor Statistics; CoStar Group, Inc.; RealPage, Inc.; Federal Reserve
Look around. If you're a multifamily housing investor, you've seen a steady increase in the number of condos and apartment complexes popping up everywhere. Currently, 35% of the U.S. population is renters, and that figure is rising. However, for owners and operators of multifamily communities, attracting and retaining residents will depend on the ability to integrate amenities and services that meet the expectations of today's (and tomorrow's) increasingly savvy residents. The emergence and adoption of cutting-edge technologies is just the ticket for meeting that challenge.
Here are five predictions that I believe will gain momentum and revolutionize the work and leisure lifestyles for residents as well as optimize investments for owners and operators.
1. Prepare to experience a virtual living space beyond your imagination.
Virtual and augmented reality technologies are reinventing the leasing process for both agents and residents. The savings in time, effort, and costs for leasing agents are substantial. Donning lightweight AR headsets, prospective residents can tour multifamily communities online and enter a virtual world where realistic avatars walk them through floor plans and community amenities.
Digital layouts can allow renters to visualize how their existing furnishings will fit, experiencing how it would feel to actually live there. This virtual staging can eliminate on-site staging and photography costs, reducing the time, staff, and office space needed to maintain property portfolios.
Strategic planning and problem-solving for properties can be done directly from the office. VR can be effective for employee training, and AR glasses in the field can enable maintenance staff to collaborate with the central office for issues and repairs. Virtual application possibilities are endless and can enhance the experience for both operators and potential residents.
2. Retire your leather billfold for a crypto wallet.
Cryptocurrencies like Bitcoin are gaining wider understanding, acceptance, and use across many industries. There has been a steady climb in consumer interest and investment, particularly among Millennials.
A form of potential online digital payment for goods and services, crypto relies on blockchain technology that tracks and records each transaction in a decentralized manner through a distributed ledger. Its secure data sharing and strong privacy can eliminate attempts at data manipulation. With tight security, transparent record-keeping, instant transfers, and no government controls or "middleman" fees, cryptocurrency may become an attractive option for multifamily operators as well as residents.
Some forward-thinking multifamily operators are already accepting Bitcoin for rental payments as well as offering Bitcoin rewards for positive resident behaviors and referrals. As Forbes notes: "Blockchain can make MLS property data more centralized and accessible, [with] title records easier to track and transfer." Multifamily operators would be wise to keep a watchful eye on this rising currency movement and consider the many benefits and applications.
3. Kick the traditional parking garage to the curb.
Instead of vast underground lots with space(s) designated for every unit, multifamily parking in the future may look quite different. Owners might partner with car share companies for residents to use the services of electric cars only as needed. Dedicated pickup and drop-off zones would allow for the convenient use of autonomous vehicles and rideshare services.
Residents with a focus on "green" initiatives already rely on public transportation and walkability factors. Bike storage, rental amenities, and other reward incentives for carless residents should attract rental applicants to properties offering these features.
With less dedicated parking, multifamily owners can use the reclaimed space for amenities like halls for community activities or even shared VR rooms.
4. The knock at the door could be your bot buddy.
Consumers have developed high expectations for service delivery, and technological innovations are rising to meet these demands. What once seemed like science fiction is fast becoming reality.
For example, Amazon has patented blimp warehouses where AI-based drones will fly back and forth to pick up packages and deliver them to drop zones below. By early 2022, Wing—Alphabet's drone service—had already made 200,000 deliveries.
In the very near future, multifamily communities could provide myriad drone and bot services to benefit residents and improve the bottom line as they deliver right to your door. With NASA working on urban air mobility maps of metro air spaces, this futuristic image of autonomous drones above and robots below is no longer far-fetched.
5. Net-zero emission designs will bring sunny days for multifamily units.
The promise of lower utility bills can be a major incentive in choosing a unit. Multifamily operators are capitalizing on the benefits of cheap, clean, and renewable energy sources.
According to the Net Zero Energy Coalition's latest report, multifamily living now accounts for 58% of all net-zero carbon units in the U.S. that are under construction, newly completed, or in the design phase. In California, all new multifamily housing construction must have solar panels for dwellings up to three stories.
Communities sharing solar arrays, energy allocations, and credits will be distributed across multiple user accounts. Common areas converted to solar could save thousands or millions each year, and revenue from the sale of excess energy can lead to a quick ROI and future revenue growth. Most importantly, many residents should be attracted to units with cost-saving amenities and "green" initiatives.
Embrace transformation for the new multifamily paradigm.
There's no crystal ball to affirm my predictions, but I'm certain these and other transformative technologies will reshape our work and leisure lifestyles—not to mention the multifamily living experience—in ways we can't even begin to imagine.
Multifamily owners and operators should plan now for the future and integrate these trends in some manner over the next three to five years. Those who make the leap should gain a competitive edge. Start building community into your properties while providing the kind of cutting-edge advancements and amenities that residents are seeking. Happy long-term residents (and a healthy bottom line) should be your reward.
eXp World Holdings Reports Record Second Quarter 2022 Revenue of $1.4 Billion
Q2 2022 Revenue Increased 42% Year over Year to $1.4 Billion With Agent Growth of 42%Company Declares Cash Dividend for Q3 2022 of $0.045 per Share of Common StockRepurchases $50 Million of Common Stock During the Second QuarterBELLINGHAM, Wash. — Aug. 3, 2022 — eXp World Holdings, Inc. (Nasdaq: EXPI), (or the “Company”), the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises, today announced financial results for the second quarter ended June 30, 2022.
Second Quarter 2022 Financial Highlights as Compared to the Same Year-Ago Quarter:
Revenue increased 42% to $1.4 billion.
Gross profit increased 34% to $107.3 million.
Net income of $9.4 million, compared to net income of $37.0 million in the year-ago quarter. Year over year tax expense increased $22.3 million due to one-time VA allowance release in 2021 and reduction in excess stock-based compensation tax benefit. Earnings per diluted share of $0.06, compared to earnings per diluted share of $0.24 in the year-ago quarter.
Adjusted EBITDA (a non-GAAP financial measure) of $26.9 million.
As of June 30, 2022, cash and cash equivalents totaled $134.9 million, compared to $107.4 million as of June 30, 2021. The Company repurchased approximately $50 million of common stock during the second quarter of 2022.
The Company paid a cash dividend for the second quarter of 2022 of $0.04 per share of common stock on May 31, 2022. On July 29, 2022, the Company’s Board of Directors declared a cash dividend of $0.045 per share of common stock for the third quarter of 2022, a 13% increase, expected to be paid on Aug. 29, 2022, to shareholders of record on Aug. 12, 2022.
Management Commentary
“During the second quarter, eXp continued to increase its market share and revenue to record levels, reinforcing that our model was built for all market conditions and that our agent value proposition resonates around the world,” said Glenn Sanford, Founder, Chairman, and CEO of eXp World Holdings. “We are focused on strengthening our platform to provide even better support to our agents through technology, operations, training, coaching, and community. In the third quarter, we acquired Zoocasa, providing an exponential boost to Canadian agents that we expect to expand to a broader group of agents and real estate customers. We also further strengthened our management team with world-class hires focused on affiliated services and innovation of our proprietary technologies. We are leveraging our core strengths of agent satisfaction and innovation as we continue to redefine the real estate industry.”
“eXp delivered another record quarter with 42% revenue growth and solid profitability while returning a record $56 million to our shareholders through share repurchases and dividends,” said Jeff Whiteside, CFO and Chief Collaboration Officer of eXp World Holdings. “Looking ahead, we expect our agile model to result in ongoing market share gains as we navigate more challenging market conditions. We expect our focus on affiliated services and technology will further strengthen our agent and customer value proposition. Simultaneously, we will focus on increasing operating efficiencies for our business and our agents’ businesses. We remain confident in our ability to deliver profitable, sustainable growth over the long term.”
Second Quarter 2022 Operational Highlights as Compared to the Same Year-Ago Quarter:
eXp World Holdings and eXp Realty strengthened the leadership team with Shoeb Ansari, Chief Information Officer; Leo Pareja, President of Affiliated Services
Patrick O’Neill appointed Chief Operating Officer, eXp Realty beginning Aug. 4, 2022. Patrick brings more than 25 years of experience and a proven track record of building and optimizing high-growth technology businesses. More details to come.
Agents and brokers on the eXp Realty platform increased 42% to 82,856 as of June 30, 2022.
Real estate transactions closed increased 30% to 150,032.
Real estate transaction volume increased 44% to $57.9 billion.
eXp Realty expanded into New Zealand in the second quarter of 2022.
eXp Realty ended the second quarter of 2022 with a global Net Promoter Score of 68, a measure of agent satisfaction as part of the Company’s intense focus on improving the agent experience.
Second Quarter 2022 Results – Virtual Fireside Chat
The Company will hold a virtual fireside chat and investor Q&A on Wednesday, Aug. 3, 2022 at 8 a.m. PT / 11 a.m. ET with:
Glenn Sanford, Founder, Chairman, and CEO, eXp World Holdings
Jeff Whiteside, CFO, and Chief Collaboration Officer, eXp World Holdings
Shoeb Ansari, Chief Information Officer, eXp World Holdings
Leo Pareja, President of Affiliated Services, eXp Realty
The discussion will be moderated by Justin Ages, Equity Research Analyst at Berenberg Capital Markets.
The investor Q&A is open to investors, current shareholders, and anyone interested in learning more about eXp World Holdings and its companies.
Date: Wednesday, Aug. 3, 2022
Time: 8 a.m. PT / 11 a.m. ET
Location: EXPI Campus. Join at https://expworldholdings.com/contact/download/Livestream:expworldholdings.com/eventsAbout eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela, and SUCCESS® Enterprises.
eXp Realty is the fastest-growing real estate company in the world with more than 83,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece and New Zealand and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.
For more information, visit https://expworldholdings.com.
Use of Non-GAAP Financial Measures
To provide investors with additional information regarding our financial results, this press release includes references to Adjusted EBITDA, which is a non-U.S. GAAP financial measure and may be different than similarly titled measures used by other companies. It is presented to enhance investors’ overall understanding of the company’s financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP.
The company’s Adjusted EBITDA provides useful information about financial performance, enhances the overall understanding of past performance and future prospects, and allows for greater transparency with respect to a key metric used by management for financial and operational decision-making. Adjusted EBITDA helps identify underlying trends in the business that otherwise could be masked by the effect of the expenses that are excluded in Adjusted EBITDA. In particular, the company believes the exclusion of stock and stock option expenses provides a useful supplemental measure in evaluating the performance of operations and provides better transparency into results of operations.
The company defines the non-U.S. GAAP financial measure of Adjusted EBITDA to mean net income (loss), excluding other income (expense), income tax benefit (expense), depreciation, amortization, impairment charges, stock-based compensation expense, and stock option expense. Adjusted EBITDA may assist investors in seeing financial performance through the eyes of management, and may provide an additional tool for investors to use in comparing core financial performance over multiple periods with other companies in the industry.
Adjusted EBITDA should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with U.S. GAAP. There are a number of limitations related to the use of Adjusted EBITDA compared to Net Income (Loss), the closest comparable U.S. GAAP measure. Some of these limitations are that:
Adjusted EBITDA excludes stock-based compensation expense and stock option expense, which have been, and will continue to be for the foreseeable future, significant recurring expenses in the business and an important part of the compensation strategy; and
Adjusted EBITDA excludes certain recurring, non-cash charges such as depreciation of fixed assets, amortization of acquired intangible assets, and impairment charges related to these long-lived assets, and, although these are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future.
Safe Harbor Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.
Media Relations Contact:
eXp World Holdings, Inc.
[email protected]Investor Relations Contact:
Denise Garcia
Managing Partner, Hayflower Partners
[email protected]
Source: eXp World Holdings Reports Record Second Quarter 2022 Revenue of $1.4 Billionhttps://www.creconsult.net/market-trends/exp-world-holdings-reports-record-second-quarter-2022-revenue-of-1-4-billion/
eXp Commercial agents and brokers to gain access to the cutting-edge technology stack and unique data insights
eXp Commercial Partnership With Reonomy Will Enhance Property Intelligence Resources for Agents and Brokers
eXp Commercial agents and brokers to gain access to the cutting-edge technology stack and unique data insights
BELLINGHAM, Wash., April 15, 2021 (GLOBE NEWSWIRE) — eXp World Holdings, Inc. (Nasdaq: EXPI), one of the world’s fastest-growing residential and commercial real estate companies, today announced a partnership between eXp Commercial and Reonomy that will enhance property intelligence and technology stack offerings for eXp Commercial agents. Reonomy provides actionable commercial real estate (CRE) insights, using artificial intelligence and machine learning to fuel business decisions.
The partnership between eXp Commercial and Reonomy empowers eXp Commercial agents with robust and accurate CRE insights that guide prospecting strategies. Access to Reonomy’s web application will be included in eXp Commercial’s base membership fee, providing advanced technology for commercial agents and brokers.
“We are thrilled to partner with Reonomy to empower our commercial agents with unparalleled data and insights,” said James Huang, President, eXp Commercial. “At eXp, we’re committed to providing our agents with the best resources available to lead and succeed in the real estate industry. Reonomy’s data and insights will help drive smarter, more efficient business decisions for commercial agents and ultimately help them be even more successful.”
Through the company’s unique financial model, eXp Commercial offers commercial real estate agents compelling incentives, such as one of the most competitive commission packages in the real estate industry and opportunities to earn stock awards. eXp Commercial agents and eXp Realty agents can collaborate for referrals, leverage proprietary marketing resources and scale their business using eXp’s technology platform. Currently, agents can sign up to sell commercial properties with eXp Commercial in 44 U.S. states.
“Our partnership with Reonomy highlights our shared values around innovation and allows us to provide commercial real estate brokers with the most up-to-date and accurate data available in one place,” said Stephanie Gilezan, Director, eXp Commercial brokerage operations. “We’re also pleased to offer our agents Reonomy’s propensity model, ‘Likely to Sell,’ which informs agents of likely listings, enabling agents to get ahead and target business. We’re excited to help our agents increase efficiency and unlock valuable data through this partnership.”
“Reonomy is excited to partner with eXp Commercial, whose compelling value proposition and revenue-sharing model means it is poised for rapid growth,” said Bill Okun, CEO at Reonomy. “We pride ourselves in bringing innovation to the commercial real estate industry, and eXp Commercial is a natural partner with its cloud-based, technology-driven platform.”
eXp Commercial is offering a free commercial real estate training and certification program for all licensed agents — whether they are with eXp or not. The training program, “An Introduction to Commercial Real Estate,” will take place April 26-30 on the company’s virtual campus, eXp World. It will be facilitated by Michael Simpson of the National Commercial Real Estate Association (NCREA).
About eXp World Holdings, Inc.
eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty, Virbela, and SUCCESS Enterprises.
eXp World Holdings and its global brokerage, eXp Realty, is one of the fastest-growing real estate tech companies in the world with more than 51,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy and Hong Kong and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools, and personal development. The cloud-based brokerage is powered by an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the economic and social effects of the COVID-19 pandemic; continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; development of our new commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.
Media Relations Contact:
eXp World Holdings, Inc.
[email protected]Investor Relations Contact:
MZ Group – MZ North America
Commercial Real Estate Financing Rates August 22nd 2022
These are the average available rates from the CommLoan database of 640+ commercial lenders as of 08/22/22 and are provided for comparison purposes only.
Actual rates are dependent on property and sponsor.
https://www.creconsult.net/market-trends/guide-to-commercial-multifamily-real-estate-loans/
The National Commercial Real Estate Association (NCREA) is a leader in commercial real estate training, coaching, and consultation. It was founded by Michael Simpson and has helped thousands of real estate agents, brokers, investors, and associations receive the training and coaching to navigate commercial transactions and build a successful career. Their programs are designed exclusively for residential, commercial, and resimercial agents.
This 3-day training event is geared towards those at the beginning of their career in commercial real estate. Agents who attend all 3 days of training and pass the test will receive the NCREA designation.
What You’ll Learn
Commercial real estate fundamentals
How to prospect and stand out
The NCREA patented GRID system, a lead generation program
The course, valued at $600, is free for all agents through this event brought to you by eXp University.
