let the experts connect the pieces expand your horizons make the right connections
TRANSCRIPT
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LET THE EXPERTS CONNECT THE PIECES
EXPAND YOUR HORIZONS
Make the Right Connections
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EXPAND YOUR HORIZONSMake the Right ConnectionsBrad B. Lapse, CCHP, CRPVice President, VIP Corporate HousingChairman, Corporate Housing Professionals Assoc (CHPA)
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Current Realities of Corporate Housing
• Inventory Challenges
• Lease Rent Optimization
• Comparing services beyond price
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What to Expect inCorporate Housing
• Industry Statistics– Revenues increased to $2.49 billion– Average daily rate in the US grew 6.8% to $123.81– US market is estimated at approx. 62,204 units– Los Angeles now the largest MSA– US occupancy was 88.6%– Average stay in the US market was 86 nights
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• Industry Forecast– Corporate housing provider companies project a 2.7% increase
in units in 2012– Demand will outstrip supply for foreseeable future– Corporate housing will increase its share of total extended-stay
lodging revenues due to extended-stay hotel room supply growth rates at all time lows
What to Expect inCorporate Housing
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Recent Innovations• Collaborations
• Supply Chain Management
• Commoditization of the industry
• Data Collection
• Partnering
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EXPAND YOUR HORIZONSMake the Right Connections
Kevin E. RichExecutive Vice-President Global BusinessNew World Van Lines
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How’s The Moving Industry Moving?
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Pressing Current Issues
Conventional thinking
vs
“Really Important & pressing”
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Moving Industry Forecast Short term
-upbeat
-positive demand trend
-generational “shifts”
-shipment size
-business models
-SCA
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Moving Industry Forecast Long Term
• Industry Consolidation
• Impact of Government Regs.
• “Panic du jour”
• Environmental concerns
• War for talent
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Moving Industry Innovations
• Materials
• Communications
• Process
• Equipment
• & some really “cool stuff”
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“It is better to ask some of the questions than it is to know all of the answers”
James Thurber
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EXPAND YOUR HORIZONSMake the Right Connections
Tonya HamptonDirector of OperationsDwellworks, Inc.
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Current Issues in Property Management
• Managing to the new applicant demographic
• State of the rental market• Government regulations and trends
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Forecast for the Property Management Industry
• Increased demand for service; both international and US domestic relocations
• Sustainability
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Innovations in Property Management
• Advanced Technology; mobile applications• Reporting
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EXPAND YOUR HORIZONSMake the Right Connections
Valuation in 2012 Paul Distefano, Operations Manager
Appraisal & Valuation Services Weichert Relocation Resources, Inc
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Industry challenges
Shrinking pool of professionals across all areas (commercial and residential)
– number of appraisers now 105,000 nationally from 120,000 in 2008+/- (ASC.gov)
– attrition in the industry due to UAD, volume, increased assignment conditions– losing entry level to Wall Street jobs even through the recession – learning curve is 3-5 years; no way to fast-track becoming seasoned &
experienced– licensing requirements have become tighter – education hours, experience
(2008) – average age of appraiser is 52+/-
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Industry challenges
Lack of “skill” updating to meet market demands - need to get back to school; learn advanced valuation techniques
(brush up on old too )
- need to better understand economics and real estate relationship
- need to become better writers to articulate the valuation process where needed
- need to embrace the technology and create a “value add equation” for the profession
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Industry Forecast Immediate
• Immediate situation is not getting much attention because of high demand (all appraisers are very busy and there are less)
• Currently industry is more reactive than proactive, but the dust has just settled
• Increased emphasis is being placed on advanced education • Attrition will continue and accelerate after the mortgage rates
increase and bad loans have been modified or sold • Appraisers will change slowly but for the better (theirs too)
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Industry Forecast Long Term
• Those that remain in the industry will be committed and tolerant of the expectations
• The remaining pool of appraisers will have obtained the skills needed to maintain expertise
• Select web-products/valuation tools with higher levels of accuracy will emerge and appraisers may augment some of these tools with new products
• Over-regulation of the lending industry will ease and bring back
a willingness to complete lending assignments • “Cream Rises – professionals with skills will always be in need
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Innovations
• 2010 Worldwide ERC Appraisal Form & Guidelines
Change initiated by “RAC” professional appraisal association as a result of the need for better reporting:
Highlights include: - ability to capture non-ERC marketing periods (90 days, etc) (page 1)
- expansive trending historical analysis (page 4)
- expansive current market conditions analysis support (page 4)
- introduced concept of “unstable” trend (only decreasing, increasing or stable existed previously in form reporting
- improved market grid for sales (page 4)
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Innovations – WERC 2010 Appraisal: Form (page 4) Historic Trends
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Innovations – WERC 2010 Appraisal: Form (page 4) current analysis
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Questions ??????
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THANK YOU!