Over the last several weeks, NIT-Vancouver has been adapting to CBRE’s work-from-home policy, and what a difference a few weeks make! While we could not have anticipated the extraordinary conditions that we are now operating under, there seems to have been a notable shift in thinking and more positive discussions beginning about the potential for restarting the economy.
The COVID-19 pandemic has challenged our ways of thinking and working like nothing we’ve experienced before. And while there is still a lot of uncertainty, we remain hopeful and we are prepared to assist our clients who may be ready to begin exploring new opportunities.
Though we remain positive, we understand that this may be a sensitive and challenging time for many of us. Accordingly, unless there are extraordinary circumstances, we are currently advising our clients to delay the marketing launch of their assets for the next 60-90 days, until the market provides signal that buyers are actively pursuing new acquisitions again. Our continuous contact with our colleagues and clients from around the globe will enable us to make timely recommendations.
In the meantime, we are doing everything we can to ensure the success of our clients and to be prepared to begin the marketing process when the time is right:
- We are utilizing this downtime to prepare comprehensive and compelling marketing materials that feature high-quality professional photography, an in-depth exploration of the property, and an analysis of the market and location;
- We are still actively working with our third-party vendors to develop studio-quality video with voice over highlights and music accompaniment, which helps provide a richer introduction to the asset;
- We are utilizing our in-house expertise to build dynamic and interactive virtual property tours that will enable business continuity and allow us to meet the specific needs of our clients. No other firm has this technology in-house and we can offer it to clients seamlessly!
- We are sourcing and populating comprehensive data rooms with plans, reports, and market data for potential purchasers;
- We are developing new target market buyer profiles and distribution lists that will help capture new buyers and maximize existing ones during our marketing process;
- We are liaising with our global CBRE network and providing ongoing feedback to our clients to reach a consensus on ideal formal marketing launch
Please don’t hesitate to reach out to us during this time, and please let us know if there is anything we can do to help support you. We are quickly adapting to the changing circumstances, and we are ready and able to fulfill your business needs.
We look forward to connecting with you soon, and hope you are all staying healthy and happy.
CBRE National Investment Team, Vancouver