A Discussion with 2018 CCIM Institute President David P. Wilson, CCIM
Despite hurricanes, wildfires, and the sniper attack in Las Vegas in late 2017, overall the U.S. commercial real estate markets continue their resilience. While most sectors are expanding nationally, a few challenges are on the radar.
“I believe the U.S. economy will become stronger in 2018 and will continue to be an investment property destination nationally and globally from nations such as China, Canada, and Germany,” says 2018 CCIM Institute President David P. Wilson, CCIM, partner and executive vice president of Lockard Development and president of Lockard Commercial Realty in Cedar Falls, Iowa. “Industrial properties are doing well, especially in the Southwest and Northwest. Due to strong demographics, seniors housing is growing nationwide.”
The outlook for multifamily has strengthened with the increased need for short-term housing. In cities such as Houston, the once overabundance in apartments is being absorbed, Wilson says.
While the retail market faces more headwinds, Wilson sees more innovations and reinventions, as well as mergers, on the horizon. “Stores need to focus on what customers can see, touch, and feel,” he says. “Landlords are getting more creative and seeking new, dynamic restaurants and finding more up-and-coming retail uses that transform shopping experiences.”
While the U.S. economy continues its steady growth, the landscape is transforming for commercial real estate professionals. Wilson advises CCIM members to invest in their education and boost their technology skills.
“No. 1 is continuing your education to set yourself apart and to become the best of the best,” Wilson says. “For CCIM designees, this means taking continuing education courses such as CCIM Ward Center courses, as well as attending trade shows and conferences. Be up-to-date on technology for our industry.”
Throughout its history, the Institute has helped its members make transitions ahead of the industry. In 2018, CCIM Tech will look at providing the best technology tools such as its continuous enhancements for Site To Do Business that benefit its members, according to Wilson.
Networking is another strength. CCIM chapters allow members to make local connections that improve their ability to close deals and receive referrals. “We will provide more opportunities for our members to meet face-to-face locally, regionally, and nationally,” Wilson says. “That helps CCIM members to do business with professionals that they know, like, and trust.”