Commercial real estate has been my area of expertise for more than 40 years now, but if you have a spouse, a relative, or a friend who is a residential real estate agent, I have an idea that may now be helpful to them...

I was invited to participate in a high-level industry teleconference, where leaders from the ownership, lending, and legal specialties within our industry were giving their experiences, observations, and recommendations around the impact that the coronavirus has been having on our industry. These participants asked that their names not be disclosed to anyone outside of the live teleconference, and here is a summary of the major points that they discussed during the teleconference:

The impact of the threat of the coronavirus has set a tone and a feeling within our nation that's been unprecedented since 9/11. However, right after 9/11 we were still free to walk around, go to events, visit shopping malls, and go to restaurants. So in my opinion, the ongoing fear, and the restrictions now set upon us, along with our ongoing concerns around the coronavirus are impacting us even more severely...

We're living in a highly politically-charged environment right now, and this can create tremendous opportunity for you. There are politicians who will propose things that can be very irritating to commercial real estate property owners, and you can become their champion by keeping these people informed, and fighting for their cause...

Giving gifts to the clients you've already closed transactions with can be a great way to show them your appreciation, and it helps you to begin taking your relationship with them to the next level, too. But what gift can you give to your prospects, the people who you've never even closed a transaction with before? If you give them a bottle of wine or a gift basket, this can make it feel like you're trying to bribe them into working along with you on your first transaction together, so what kind of gift can you give them that would be appropriate in this particular situation?