This article was republished with permission and originally appeared on Connect Media on June 18, 2019. Click here to view the original article.
The Society of Industrial and Office Realtors’ (SIOR) Spring World Conference in Washington, D.C. brought together the industry’s top commercial real estate brokers and global thought leaders to discuss the most pressing and relevant topics facing the industry today. SIOR CEO Thomas E. McCormick, III, shares a few takeaways from the gathering in our latest 3 CRE Q&A.
Q: What were three big takeaways from SIOR’s Spring World Conference?
A: This year’s Spring World Conference (SWC) was a tremendous success. I think the number one take is the networking and deal generation that takes place. It’s incredible – and why as a member, I never missed a conference – I’ve been to 67 conferences in a row! I continue to be impressed by the connectivity one experiences at our conferences. More than 800 members and industry professionals from 12 countries joined us in Washington, D.C., and those numbers continue to grow. Our members come from different markets with different knowledge and experiences, and they come together for idea-sharing and mentoring at all levels, and the entire industry benefits. There is an energy at SIOR World Conferences that is indescribable – you have to feel it to understand it!
CRE is on a hot streak with no signs of slowing down anytime soon. Office vacancy is low and rents are rising across the U.S.; industrial continues to boom thanks to the last-mile effect of online retailers and e-commerce’s continued success; and the next generation of real estate professionals are entering the workforce. It’s an exciting time. Of course, the market is cyclical and SIORs know to always be prepared for a downturn. Our designees know the importance of working smart, maintaining strong client relationships, and remaining vigilant in the face of adversity.
Diversity in CRE, as with any industry, is important. At the Spring World Conference, we wanted to facilitate the discussion of how SIOR can act as a leader for our industry. As the industry grows, we will stay on the front lines as innovators and thought leaders. We’re also working with the SIOR Foundation to continue fulfilling their mission of educating and cultivating the next generation of commercial real estate professionals and will continue to engage students and young professionals in any way that we can.
Q: The CRE landscape is constantly evolving. How is SIOR adjusting to those changes so its members are prepared with the tools, resources and skill set to compete today?
A: CRE is changing. We have seen the role of the broker shift and expand. Owners, operators, and investors are looking for someone who can do more than just close a deal, they’re looking for a partner who knows the market, the local economy, and how to evaluate a potential opportunity on behalf of the client – even when the client is in another state or country. SIORs are trusted, strategic advisors and we’re going to continue providing opportunities for our designees to connect and learn so they can provide the best possible service to their clients.
SIOR continually works to improve its programming and offerings for members to ensure we are staying on the cutting edge of innovation in our industry. At a local and regional level, chapters are providing opportunities for designees to convene and share market intelligence.
SIOR and the SIOR Foundation recently announced that we will sponsor the 2019 NEXUS Summer Program, which provides gifted and talented college-bound teens with the tools needed to thrive in a post-graduate environment. SIOR members will participate in the program, serving as coaches, judges, and instructors.
Q: What advice do you have for CRE pros interested in earning the SIOR designation?
A: I hear from so many of our designees about the countless benefits they see – both from a business and personal perspective. Joining together with a group of motivated, like-minded professionals who all want to help each other is priceless.
I would tell anyone interested in earning the designation to take the first step and reach out to our membership team. If you’re just starting out in your career and have at least one year of experience, SIOR’s member associate program is a great way to jump-start the process and begin making those invaluable connections.
If you’re ready to earn your designation, you can go online to go.sior.com/results to learn more about the process and start your application.