By Stephen R. Rigl, 2021 Commercial President, MIAMI Association of Realtors
The MIAMI Association of Realtors Commercial (MIAMI Commercial) is home to the 5th largest commercial association in the U.S. (nearly 3,000 members) and the first Commercial MLS in the nation. It offers the best commercial-specific products and services, commercial data distribution and syndication, world-class training and exceptional speakers, and monthly commercial marketplace programs for its members.
Over the past year, MIAMI Commercial — which received the first NAR Commercial accreditation in the U.S. — has forged key partnerships, added many new services for members, launched global networking events and more. Many of these services and partnerships are exclusive for MIAMI’s Realtor members in South Florida.
MIAMI Commercial Members Selling More Properties with South Florida Commercial MLS
MIAMI Commercial members are using the South Florida Commercial MLS (launched in November 2019). MIAMI members do more than 72% of all commercial MLS business in South Florida. As of June 6, South Florida Commercial MLS is home to nearly 6,000 commercial listings for sale and $1.8 billion in commercial sales were conducted on the South Florida Commercial MLS between June 1, 2020 to May 31, 2021.
In addition, the association created a dynamic public portal South Florida Commercial Property Search or www.SFComSearch.com to expose member listings and help them sell more properties. The website reaches investors, both nationally and globally, business owners, real estate professionals and the public.
New Products and Services Boosting MIAMI Commercial Members’ Business
MIAMI Commercial is always on the search for new tools to help our members. MIAMI Commercial has a partnership with CompStak, the leading crowdsourced commercial real estate data platform specializing in lease comps and other commercial real estate data.
In March 2021, MIAMI Commercial partnered with CoeoSpace, an award-winning open data technology platform, to boost the exposure of MIAMI Commercial listings. In October 2020, MIAMI Commercial partnered with CREXi, a leading online commercial real estate marketplace, to give MIAMI Commercial members listing and marketing tools so they can better serve their clients.
In addition to bringing these new tools and discounts to members, we also expanded our training on existing tools such as RPR Commercial, IMAPP and Remine Pro just to name a few. Our goal has always been to bring cutting-edge tools to expand our current services and increase member profitability.
We will continue to identify unique opportunities in 2021 and beyond. Learn more about these and other commercial tools at: www.miamirealtors.com/commercial/services
MIAMI Commercial Hosting Signature Events Featuring Global, National Experts
In May 2021, MIAMI Commercial and NAR released a report on how South Florida commercial property owners have repurposed and repositioned CRE assets, resulting in the revitalization of entire submarkets and their surrounding communities at an in-person event at the Biltmore Hotel.
Renown economist KC Conway presented his “White Paper – Adaptive Reuse 2.0” and then engaged with a panel of notable CRE influencers. Access more info: https://www.miamirealtors.com/commercial/superconference/midyear/
In May 2021, the two largest REALTOR associations in the world — the Toronto Regional Real Estate Board and MIAMI Realtors — partnered to present the first Global Commercial Marketplace.
On July 8, 2021, MIAMI Commercial and Orlando Association of Realtors will present the first Florida Commercial Marketplace. Our Commercial Global Marketplace series will be held on a quarterly basis to foster out of state and international transactions through actively connecting with other Realtor Boards across the country and the world including New York, Chicago, Paris, San Juan, San Francisco and others.
MIAMI Government Affairs Scores Major Win for MIAMI Commercial Real Estate
MIAMI Realtors has advocated to eliminate the outdated and onerous Business Rent Tax for many years — routinely speaking with lawmakers about the issue during the annual Great American Realtor Days in Tallahassee.
In April 2021, in a major win for South Florida commercial real estate, Gov. Ron DeSantis signed a bill that will reduce the sales tax rate on commercial leases from 5.5% to 2% — saving affected businesses about $1 billion annually.
The savings will encourage more South Florida businesses to lease space, creating more jobs and businesses to boost the economy. In addition, the significant reduction in Business Rent Tax further removes a long-standing cost obstacle for companies evaluating a relocation to Florida, certain to result in additional new corporate relocations to our state.
From government affairs to adding products and services to hosting global networking events, MIAMI Commercial will continue to seek to serve South Florida commercial members and to shape and unify the commercial real estate brokerage and service industry.