I think it is safe to say that the real estate professionals, especially newer ones like myself, found themselves in a whirlwind of change this past year and became educated in what may have been the way deals where supposed to be transacted before “easy money” existed.

But through the year, day by day, as we typically forget about what counts most to the great percentage of us is that we are healthy, safe and are able to spend time with our loved ones and provide a roof over our heads and food on the table, I am thankful for what I do have and not concerned about what I do not have.

In closing, my fourth grade teacher wrote on the blackboard these three words and asked each of us to put them in the order of importance….

Health – Love – Money…….ask yourself this question

Translated into commercial real estate terms, we are seeing office vacancy running north of 12% in the Philadelphia metropolitan area. Although absorption in the 4rth quarter of 2009 improved, the forecast is for vacancy to remain at this level for the coming year.

Whether you are a landlord carrying vacancy or a tenant needing to relocate, the current economic climate offers a renewed opportunity for a broker to add value to a landlord and to a tenant alike.

Tenants now rule the landscape because of the scarcity of tenants running in the marketplace.

One of the responses to this condition is the paying of commission bonuses for executed leases. A landlord may ask, “Is this truly necessary?” The answer is most probably no, but it sure does make compelling sense.

As with all numbers games, the probability of finding a qualified tenant is increased by the amount of exposure a space receives. And real estate is no different than any other commodity, a scarcity of resources drives up prices. In this case, the scarce resource is tenants and the cost of getting them to sign on the dotted line is more time consuming, requires more finesse, and takes more effort to locate.

Keeping a property clean, maintained and equipped for today’s companies needs will also go a long way towards getting a property leased.

For additional information, please contact Julie Kronfeld at julie.kronfeld@naimertz.com or 856-802-6516.