How Empty Retail Space is Impacting Real Estate (Plus Other Links)

Twice a month we search every corner of the web for the most relevant current events in the world of real estate. Our aim is to educate, entertain and provide insight into industry specifics. Find the latest collection below:

Read: What’s happening with all those empty Kmarts?

You’re probably aware that Kmart and Sears stores are seriously in trouble. Decades of subpar performance and intense competition from online shopping opportunities has pushed Sears Corporation to file for chapter 11 bankruptcy. The question of what will happen to all that real estate remains unanswered, with such large properties appealing to a variety of buyers. This article highlights the facts and implications of the current situation surrounding Kmart and Sears, explaining their ripple effect through different real estate markets.

Here are some highlights from the article:

  • If liquidated, real estate markets will flood with vacant retail space
  • Many of the vacant spaces will likely be divided into different rental spaces with smaller formats
  • Burlington Stores, At Home Group, Dick’s Sporting Goods, Fitness Stores, U-Haul and Amazon have expressed interest buying
  • Demolition is on the table for less desirable locations

Director of real estate advisory services at Conway MacKenzie, Lauren Leach, summarizes the big picture surrounding the future of the locations in the article. She emphasizes the need for large spaces in experience-based shopping projects, saying, “That’s really the trend for all retail real estate now. Everything you’re hearing about and reading about is finding ways to bring customers to the mall for an experience rather than just to shop.”

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Watch: Dru Riess’s TEDx Talk

Dru Riess is an entrepreneur with an alternative perspective on creating a path to success. Though his TEDx Talk isn’t specifically about succeeding within real estate, Riess’s message transcends profession. He discusses the nature of dreams, and what changes as we age and often lose sight of those aspirations.

Riess argues against self-help books, instead offering that positioning yourself to succeed and channeling your own “IT Factor” is a better start. He emphasizes the power of leveraging failures as successes, utilizing the imagery of demotivational strands forming a sturdy rope to pull you through hard times. Do you like the idea of using the criticisms of others as fuel for success? This TEDx Talk is for you.

Discover more about Dru Riess and his accomplishments here.

Listen: Kevin & Fred’s Next Level Podcast

This podcast from the minds of real estate gurus Kevin Kauffman and Fred Weaver is one of the best industry-focused discussions available for streaming. Click through the different episodes to find everything from long-form interviews, to short snippets of business advice.

“WHAT ARE IBUYERS? Business Tip: Be More Human” is our pick for this roundup, as it’s a short episode yet manages to tackle multiple relevant points of discussion. Kauffman and Weaver touch on the following topics in a span of six minutes:

  • The future of real estate in terms of online negotiating
  • Tips for being heard through the noise
  • The role of real estate professionals in advising clients
  • Gaining trust through honest dealing
  • Losing money in the hopes of gaining it back in repeat clientele

Follow: Michelle Ciotti on Instagram

Miami-based real estate agent, entrepreneur and radio personality Michelle Ciotti is our choice for the best new professional to follow. Featuring posts in both Spanish and English, Ciotti offers motivational content along with a glimpse inside her lavish daily life as a luxury real estate professional. With almost 100,000 instagram followers, her feed inspires young professional women looking to establish a powerful brand and get ahead. Check out Ciotti’s page to gain insight into how to portray a more personal side of yourself online while simultaneously utilizing the platform to grow your business.

Act: Two important upcoming real estate events

Speaking of Kevin & Fred’s Next Level Podcast, they also constantly offer relevant events for real estate professionals in their episodes. Most recently, they mentioned the Las Vegas Next Level Agents Conference.

Here’s everything you need to know about it:

  • Takes place in Las Vegas on April 25 and 26, 2019
  • Features experts from specialized real estate fields and leadership speakers
  • You can register now here

Additionally, the National Association of Hispanic Real Estate Professionals is currently registering spots for their 2019 National Convention in San Diego. This year’s event is expected to be the biggest one yet, with over 10,000 participants across industries with expertise in real estate, technology, education and the arts. If you’re a real estate professional with connections to the Hispanic community, this event could be a highlight of your year.

Here are some details:

  • Centered in downtown San Diego, walkable distance to beach
  • Takes place September 26-29, 2019
  • Learn new skills, network and inspire opportunity
  • You can register now here

Learn more about the National Association of Hispanic Real Estate Professionals here.

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