President's Letter
By Jim Lambrecht, MiCAR President
Lambrecht Properties, Inc., Bingham Farms, MI

We all heard about how when John F. Kennedy famously said “Ich bin Ein Berliner” during a speech in Berlin, he carefully crafted his accent to make sure that he pronounced the word so that he was saying “resident of Berlin” instead of “donut”.

Each of us has committed – or come close to committing – a cultural faux pas, whether funny or serious. The potential to do so exists in every transaction, whether with someone from a different culture within the United States or with someone from another country.

When Gov. Jennifer Granholm returned from Japan, it was with the news that $51 million in new investments by eight Japanese companies will soon be moving into the Michigan market. We know whom they’ll be calling when they look to set up residence here: us, the commercial REALTORS® of Michigan. As the State of Michigan assists them in finding land for new factories and space in office buildings for their employees, it will be those REALTORS® with cultural know-how who land deals. These REALTORS® not only know the real estate business, but also know how to take cultural differences and work with them to make deals.

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Good times to continue for commercial real estate
NAR Chief Economist reports

Falling vacancies, rising rents, and continued capital flows from private and institutional investors all promise a great 2006 and 2007 for commercial real estate, NAR’s Chief Economist David Lereah told commercial REALTORS® at NAR’s Economic Issues & Commercial Real Estate Business Trends Forum.

The highest corporate profits in 15 years and a generally strong economy – the driving force behind commercial – should ensure that all major property types, with the possible except of retail, perform well this year. Lereah expects a 3.5 percent GDP growth during 2006 as the economy adds about 2 million new jobs and wages pick up.

Office vacancies are at their lowest rates since 2001, sitting at 12.6 percent in first quarter 2006. Net absorption is almost twice the pace of construction, contributing to the 5 percent rent increase Lereah projects for the sector in 2006.

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Top commercial coach to speak at MAR Convention

Jim Gillespie, known as the country’s top commercial real estate coach, will present three hours of continuing education at MAR’s convention being held September 25-27 at the Amway Grand Plaza in Grand Rapids. Gillespie’s presentation is titled “The 9 Important Components of Your Ideal Brokerage System”.

Gillespie, past president of three commercial real estate associations, former chief operating officer of a commercial real estate company, and master hypnotherapist and neuroprogrammer, is known for his unique presentation style and dynamic educational sessions.

The session will focus on the interactions between what Gillespie considers the nine most important aspects of commercial real estate: prospecting, mailing, scheduling appointments, obtaining exclusive agreements, closing transactions, having great people skills, building relationships, obtaining referrals, and pursuing one’s own continuing education and training.

For more information about MAR convention’s commercial track, or to register for convention, visit www.mirealtors.com.

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Analysis of new Federal Fax Rules

Revisions to federal do-not-fax rules take effect August 1, 2006. To access an analysis of the rules by NAR's legal division, click here.

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MAR partners with Latvian commercial real estate group

MAR recently became the NAR ambassador association to the Baltic nation of Latvia, part of one of the fastest growing emerging markets in Europe and a fledgling democracy once occupied by the Soviet Union. This opportunity gives MiCAR members a unique opportunity to network with Latvian and Baltic commercial agents and to bring about new transnational – and transactional – partnerships.

As ambassador association, MAR, and through it, its commercial division, MiCAR, will assist in hosting Latvian delegates to NAR events, has created a section of the MAR Web site dedicated to information about Latvia, and will work to create greater cultural understanding generally among MAR members.

Latvia, a country of five million people, is one of the most prosperous countries in Eastern Europe. With a population speaking Latvian and Russian as its native languages, and with millions fluent in English, German and other countries, Latvia offers investors sophisticated development and purchase opportunities with virtually no limitations.

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Take advantage of free access to CommercialSource.com

MiCAR will be one of the sponsors of CommercialSource.com, NAR RCA’s unique commercial real estate online forum that runs from June 6-12 at www.commercialsource.com. The event, and access to the Web site, is free for all members of MiCAR.

Bringing together the connectivity and accessibility of the Internet and the networking opportunities of a live conference, CommercialSource.com will showcase innovation, essential products and services and features commercial real estate experts that shape the industry - in one place on the Web. Attendees can network, learn about new products, and hear top-notch industry speakers from the comfort of their office or living room.

To learn more about CommercialSource.com, click here.

To register, visit www.commercialsource.com.

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MiCAR Monthly
June 2006

• President's Letter
• Good times continue for commercial real estate
• Top commercial coach to speak at MAR convention
• Analysis of new Federal Fax Rules
• MAR partners with Latvian commercial real estate group
• Free access to CommercialSource.com
• MiCAR Board update
• RPAC Contributors

MiCAR's board of directors, composed of top commercial brokers from around the state, is hard at work on numerous ways to create additional resources for commercial practitioners in Michigan.

MiCAR has six standing task forces chaired by board members. These groups, the Forms Task Force, Networking Task Force, Education Task Force, Synergy Task Force, Commercial Public Policy Advisory Sub-Committee, and Data Task Force, were formed by the board of directors to implement the desires of Michigan's commercial practitioners.

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