7/26/21 Dallas Mastermind Group Meeting Copy

Dallas July 2021 – Key Take Aways

• Kimber Davison with Griffith Davison told the group that there are a lot of legislature updates for the state of Texas with many of the changes going into effect September 1, 2021, that will affect both construction and real estate industries so she would like to do some sort of a presentation at a future meeting to share that information with everyone. She is “busier than ever” dealing with a lot of employment issues regarding discrimination and COVID-19 related lawsuits. The price of construction materials (lumber, concrete, bricks, chips, etc.) continues to affect the real estate and construction development and is a volatile topic across the board with currently no end in sight.
• Melinda Etnyre with Huey Enterprises, an Executive Search Consultants company, shared that they have “many high-level executive talent/people who are still displaced and are trying to find work”. She’s finding that many companies are hesitant to hire new talent for various reasons, so they are currently dealing with a “lull” which is very unusual.
• Laila Assanie, Senior Business Economist with the Federal Reserve Bank of Dallas shared the following: Since the unemployment benefits stopped in June, they had hoped that the unemployment numbers would show an increase with more people job hunting, but so far they have not seen any uptick which may be due to Summer months with children being home. She is hopeful that those numbers will improve in the next few weeks with most schools starting at the end of August. Many employers are reaching back out to former employees to return to their jobs but they have not been successful, either because the employees have found a job elsewhere with better pay or they have potential applicants not show up for interviews. With business activity picking up since the COVID-19 vaccine, some employers are still struggling with filling positions.
• Our guest speaker, Bob Baker, Senior Sales Executive with Ten-X. Their Mission is to empower the CRE industry to close sales transactions “faster and with more certainty”. With over $26B in transactions since 2009, Ten-X is the leading online commercial real estate marketplace. With data-driven technology and comprehensive marketing tools, Ten-X empowers sellers, brokers, and buyers alike to buy and sell commercial real estate property completely online. Ten-X is a proven platform, a simplified process, and provides the information and tools to buy and sell real estate with ease and confidence. Bob shared the following with the group:
o There is no cost to “you” the seller/broker.
o Speed – They list to Close under 100 days with the dedicated operational support team working in tandem with your team.
o Reach – They have the largest reach to qualified active buyer pool, 12 million+. The have “Global reach through omni-channel marketing”, both local and regional.
o Control – they have greater insight throughout the sales process.
o Certainty – 80%+ trade rate and 95% close rate. Their frequent re-trades and due diligence moved to before offers are made and 30 days all cash non-contingent contracts = 95% certainty of Close.
o Live Bid Timeline – an online live bidding event that provides acceleration with certainty.