A Rant On Requirement Blasts
January 20, 2010
Is it just me or is every other email this week a requirement blast from a broker? If these email blasts are not an indication of the industry’s failure or slowness to evolve, I don’t know what is. On the flip side, it’s also a sign that things are starting to move.
Nonetheless, there are millions of square feet out there, and brokers still rely on an email blast to find out about space on the market. When the market is hot, or if a broker has a tough requirement, I understand these email blasts, but when availability is plentiful and everybody’s marketing their space, getting an email for a 4,000 SF warehouse across 3 or 4 cities is interesting.
On the one hand you can chalk it up to being prudent. But if I were looking at this from the outside in, I would say this method of searching is more suitable for the antique business than a sophisticated commercial real estate operation.
….or perhaps this is just a public proclamation by the broker that they actually have have something to work on.
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I view it as not knowing your market and doing the customer a disservice.
There is far too much "whisper space" out there right now.
The market is too liquid – real opportunities linger at every address.
I think that you can certainly chalk this up to laziness. A simple search on LoopNet will yield you more available space that you know what to do with.
Ha! Ha! "..public proclamation by the broker that they actually have have something to work on…."
Yeah, it think this pretty much the truth. But, I don't see anything wrong with it. There is a lot of shadow space out there. Might as well announce it. You never know what is going to fall out.
Tampa Commercial Real Estate