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Posted: December 22, 2020
Edward Smith, Jr., Commercial Classroom LLC
Name: Edward Smith, Jr.
Title: Real Estate Instructor, Author and Broker
Company Name: Commercial Classroom LLC
What was the most challenging part of working during the pandemic?
Changing my mode of teaching from live classroom to zoom meetings. Not being able to see students’ reactions and a reduction in student interaction.
What was your greatest professional accomplishment in 2020?
Achieving a milestone; there are now over 2,000 agents who have completed my course and are “Commercial and Investment Real Estate Certified,” in CT, NY and RI. Overall, I have personally trained over 15,800 students to do commercial real estate and many more have learned the business through my books.
What are your predictions for commercial real estate in 2021?
We will continue to see increased vacancy in office buildings as work-at-home will become partially permanent and after the vaccine even more vacancy as social distancing will probably be relaxed. We have already seen a rise in sub-leasing, and this will continue. Both events driving down rents and building values. Retail is a mixed bag as some retailers close or downsize while others are growing and expanding. Industrial space will continue to be in demand especially to house the ever-growing e-commerce distribution centers. The fate of many hotels and restaurants is probably the greatest challenges.
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