VAR'S Commercial Alliance, a special interest group of VAR, is the business and legislative advocate for Virginia's Commerial REALTORS®.
IN THIS SECTION:
COMMERCIAL SOURCE (NAR)
CommercialSource.com is a national listings platform owned by the National Association of REALTORS® (NAR) and operated by ePropertyData (ePD) LLC, a NAR wholly-owned subsidiary. CommercialSource.com partners with Realtor.com for Commercial Property Search at http://commercial.realtor.com, providing commercial listings exposure at the #1 real estate web site in total visits, unique visitors, page views and time on site.
CommercialSource.com aggregates and manages the most accurate member-owned listings in the industry. Data is provided by data content providers such as Commercial Information Exchanges (CIE), Commercial Multiple Listings Service (MLS) providers, commercial real estate firms, and individual licensed brokers.
When a new individual real estate agent signs up on CommercialSource.com, we first check their license to ensure it is currently active. Once we confirm this, the individual real estate agent can upload his or her listings.
Additionally, we have over 100 REALTOR® Association MLS’s, CIE’s and real estate brokerages that are data content providers. We aggregate the commercial listings from their databases and provide the national exposure as a service to them.
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RPR: REALTORS® PROPERTY RESOURCE FOR COMMERCIAL AGENTS
KEY FEATURES FOR COMMERCIAL AGENTS
The RPR Commercial Initiative extends RPR’s core commitment to leverage a parcel-centric database to create business value for all of NAR’s members. Commercial REALTORS® have specific requirements related to search, property data sets, presentation, and customer reporting. The RPR Commercial application is being developed to meet the needs of those members specializing in commercial sales and leasing, ultimately for the benefit of their clients and customers.
RPR Commercial Application
The RPR Commercial application will extend the strategy first available via the RPR Web site, to provide a single-source point of access for REALTORS® seeking robust, parcel-centric data. Search features will include commercial, industrial, lease, vacant land, business opportunities, market potential and business analyses. RPR Commercial will combine licensed commercial MLS and CIE data with public records, neighborhood, geographic, and economic data to provide a rich view of the market and its drivers.
Commercial Task Forces
RPR began its commercial strategies in September 2010 through an initial Data License Agreement with the Charlotte Region Commercial Board of REALTORS®. CRCBR formed a task force comprised of their Board leadership in order to engage the RPR development team with broker and agent level direction, and feedback on technical features, search functions, and end user reporting.
Additionally, RPR formed a Commercial Task Force comprised of thirteen volunteer members. The participants represent the RPR Advisory Board, CCIM, IREM, SIOR, RLI and commercial and franchise brokerages. The purpose of this Task Force is to provide a high-level overview to RPR’s Commercial initiatives, and suggest synergies with existing NAR Commercial assets, such as the products of the CCIM Institute and eProperty Data.
The RPR Commercial Task Force is also charged with making policy and business practice recommendations to the RPR Advisory Board regarding strategies to provide the highest level of value for the introduction of RPR Commercial into the market, while operating within its core competencies and avoiding redundancies with existing NAR commercial resources.
COMMERCIAL INFORMATION EXCHANGE
The Virginia Commercial Information Exchange (CIE) exists to help professionals share commercial real estate information in the State of Virginia. It‘s a database of commercial property listings & recent sale/lease comparables, and a tool for research, marketing, communicating & networking.
A few reasons to join the community:
- Search property listings, generate custom reports.
- Enter listings once, market across dozens of websites.
- Search posted Need/Wants.
- Send broadcast email.
- Search recent sales and leases.
Participation is open to all commercial real estate practitioners for just $27/month.
Click here to access the VAR Commercial Alliance CIE.
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STANDARD FORMS & CONTRACTS
VAR is pleased to announce the addition of commercial forms to its Forms Center. Through a licensing agreement with Central Virginia Regional MLS, LLC, VAR will now provide the following forms:
- Commercial Purchase Agreement – Form 700;
- Commercial Listing Agreement – Form 710;
- Commercial Letter of Intent for Purchase – Form 720; and
- Commercial Letter of Intent for Lease – Form 730.
We offer these forms as a resource that will improve basic commercial deals by providing you a template for structuring and moving forward in these transactions.
We strongly encourage agents who lack commercial experience to obtain training before engaging in these often complicated transactions. Remember, Code of Ethics Article 11 requires competence to engage in a specific real estate discipline such as commercial real estate, and you could subject yourself and your firm to discipline if you are unprepared.
COE Article 11
The services which REALTORS® provide to their clients and customers shall conform to the standards of practice and competence which are reasonably expected in the specific real estate disciplines in which they engage; specifically, residential real estate brokerage, real property management, commercial and industrial real estate brokerage, land brokerage, real estate appraisal, real estate counseling, real estate syndication, real estate auction, and international real estate.
REALTORS® shall not undertake to provide specialized professional services concerning a type of property or service that is outside their field of competence unless they engage the assistance of one who is competent on such types of property or service, or unless the facts are fully disclosed to the client. Any persons engaged to provide such assistance shall be so identified to the client and their contribution to the assignment should be set forth. (Amended 1/10)
Click here to access these forms through the VAR Forms Center (login required.)
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AFFILIATE ORGANIZATIONS & LINKS
The Commercial Alliance includes these affiliate organizations and professional designations:
The links below can also provide valuable information to commercial practitioners:
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There are several affiliate organizations that provide commericial education, as well as certifications and professional designations:
You can also explore online education options through various VAR partners.
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