Brokerage: Why Not Start Your Own Firm

Maybe not you specifically, but the teams that are pulling in $1mm+ in fees.

I know several teams in NYC whose book of business is their own (especially those in tenant rep or IS) but stay at a firm that takes $350,000+ to print marketing materials and keep data subscriptions paid up. The few I’ve asked this question of say something to the effect of “ah too much work/paperwork to start it up.” Doesn’t seem that plausible for people who, in my experience, already work very hard.

Searched far and wide on WSO but doesn’t seem to have been talked about. Perhaps a good discussion.

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Where Millennials Are Moving (And Where HQ2 Might Send Them)

If you look at the latest data, Millennial homebuyers aren’t flocking to the big cities or urban centers like most would assume. They’re heading to the outliers — smaller, more suburban towns where a slightly longer commute means more affordable housing, safer streets and a lower cost of living.

In fact, according to the Ellie Mae Millennial Tracker, the top cities among Millennial buyers last month were Indiana, Pennsylvania (about an hour from Pittsburgh); Bay City, Michigan (not far from Flint); and Watertown, South Dakota (a short drive from Sioux Falls).

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McAllen Industrial Healthy, Despite Negative Absorption

The McAllen, TX industrial sector experienced negative absorption in Q2 2018, with 7,891 square feet coming back onto the market. However, according to researchers at CBRE, McAllen industrial remains healthy, with vacancy at 3.5% and approximately 585,000 square feet under construction.

Seven leases were signed during the quarter, as was a renewal, with 500,000 square feet of lease and sales deals transacted. This was double the velocity of Q2 2018, and quadruple that of Q1 2018.

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Public improvement district will bring new development to Manor

As one of the fastest-growing cities in the country, Manor has been getting a lot of looks lately.

Commercial developers, in particular, have their eyes on the city – and a recently improved public improvement district is expected to accelerate development.

The EntradaGlen PID gets its name from the two master-planned communities it encompasses: Las Entradas and Shadow Glen. Together, the two developments span 322 acres.

Locally based Dwyer Realty Cos. is the company behind both Las Entradas and Shadow Glen. Pete Dwyer, president Dwyer Realty Cos. said homes there start at less than $250,000 – a rarity in the metro Austin area

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After 2.5 Years Lagging The U.S., Houston Multifamily Rent Growth Is Back

The bottom fell out of rent growth in Houston apartments in May 2015. For years leading up to that point, the Bayou City had been surpassing the national average in apartment rents. But starting with the oil bust of 2014, Houston lost traction, and around the midpoint of 2015, fell below the U.S. in terms of rent growth, Yardi Matrix data shows.

No more. After hitting a trough in May 2017, rent growth has been leaping, and as of February. Houston is back above the 2.7% national average. with a 2.9% year-over-year increase through that month. Hurricane Harvey helped buoy the multifamily market, but it goes deeper, as the rebound began before the storm and has continued as short-term leases for displaced residents have burned off.

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Latest debate about merits, demerits of CodeNext hits usual points

Low-key input marked the first of two public hearings about Austin’s most contentious political issue, CodeNext, as it moves closer to a vote before the City Council.

The comprehensive re-write of Austin’s land use rules and regulations aims to allow more density along major city corridors, and it details how the city will be able to grow in the future. Its various drafts have pitted urbanists advocating for more housing stock and a more walkable, bikeable city against neighborhood interests fighting against redevelopment of beloved areas of the city.

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