MEMBER NEWS 

PLEASE JOIN US FOR THE FIRST-EVER ONLINE OFFERING OF CBA FORUM, COMMERCIAL CORE CURRICULUM, AND WSCAR EDUCATION DAY

 

Earn up to 10 CE hours as you learn from local and national thought leaders, gain insights to increase your productivity, and learn how to leverage the latest CRE industry trends to maximize your success.

Three days of live, online presentations include:

- Spokane Area Updates

- Lease Restructuring

- Supply Chain Logics

- Post-COVID Recovery

- Commercial Core Curriculum

- CBA Updates

- And more ...

 

WSCAR Education Day

Friday, October 30th

3.5 CE Hours Approved

 

Commercial CORE

Friday, November 6th

3 CE Hours

Approved

 

CBA Forum

Friday, November 13th 

3.5 CE Hours

Pending

 

Pricing Options:

Single-day price: $65

Two-day price: $100

Three-day price: $125

*Package pricing available. 

 

For more information and registration, please visit our EVENT website. 

 

VISIT EVENT WEBSITE

WE'VE UPDATED OUR LEASING FORMS IN LEGAL LIBRARY PRO

In response to requests from the CBA member community, we're pleased to announce that we've updated our Leasing Forms in Legal Library PRO to make them more useful, usable, and flexible.

 

CBA's Leasing Forms have been fully reviewed, revised, and vetted to ensure they meet all legal criteria and best practices. We also changed the format to make filling them out easier.

 

PLEASE NOTE: We've made considerable substantive changes to the Leasing Forms. We highly recommend that you watch the video from our legal counsel, Bethany C. Kelsch from Stoel Rives, to fully understand the changes that have been made before using the revised forms.

 

 

THE SUITE OF NEW AND REVISED LEASING FORMS

The NEW forms include the following:

  • MTBY Multi-Tenant Base Year Lease

  • LOI-LS replaced by:

    • LOI-MTNNN Multi-Tenant NNN

    • LOI-RETNNN Retail NNN

    • LOI-STNNN Single-Tenant NNN

    • LOI-MTBY Multi-Tenant Base Year

    • LOI-MTGR Multi-Tenant Gross

    • LOI-STGR Single-Tenant Gross

The REVISED forms include the following:

  • GR_LS Multi-Tenant Gross LA Addendum-Amendment to CBA Leases LCR Letter of Credit Rider

  • LOR Guaranty of Tenant’s Lease Obligations Rider

  • MT_BY Multi-Tenant Base Year Lease

  • MT_NNN Multi-Tenant Triple Net Lease

  • OR Option to Extend Rider

  • PR Parking Rider

  • RET_LS Retail Lease Agreement—Multi-Tenant Triple Net

  • RR Rent Rider

  • RUR Retail Use Rider

  • ST_LS Single Tenant Gross Lease

  • ST_NNN Single Tenant Entire Parcel

  • SUB_LS Sublease Agreement

  • XL Exclusive Lease Listing Agreement

  • XLA Exclusive Agency Lease Listing Agreement

IMPORTANT NOTE: When adding documents to your transactions, members will receive the newest version(s). This will not affect open transactions, and all of CBA's previous forms are still valid and legal. 

 

LOGIN TO LEGAL LIBRARY NOW

 

We've also provided a complete overview of all of the changes made to the Leasing Forms. 

VIEW OVERVIEW NOW

 

UPDATING YOUR MAIN PROPERTY IMAGE & TIPS FOR ACCURATELY SEARCHING CBA'S NEW PLATFORM

 

You can now update your main property image directly on the CBA My Listings Page!

 

We've sent out an email with detailed steps on how to update your image correctly. It also includes an important tip on choosing the correct parameters in our new search platform depending on whether you are looking for Sale or Lease listings.

 

GO TO YOUR LISTINGS NOW 

2020 COMMERCIAL REAL ESTATE LEADERSHIP AWARDS ANNOUNCED

 

The Puget Sound Business Journal has announced the winners of the Commercial Real Estate Leadership Awards. Our own CBA member Rob Nielsen, Executive Vice President at JLL, has received the Giving Back Award. Congratulations, Rob!  

 

These leaders will be honored during a special virtual reception on Tuesday, October 6th. They will also be profiled in the PSBJ CRE Leadership special section that will publish on Friday, October 30th.  

SIOR® OFFICE BROKER, INDUSTRIAL BROKER & INVESTMENT BROKER OF THE YEAR FINALISTS 

 

We are pleased to announce this year's SIOR® Broker of the Year finalists. Winners for each category will be announced on Friday, November 6, at NAIOP’s first-ever virtual Night of the Stars. 

 

2020 Finalists Include: 

Bill Condon, SIOR – Colliers International

Eli Hanacek – CBRE 

John Hansen – CBRE 

Thad Mallory, SIOR – Newmark Knight Frank 

Erik Nelson, SIOR – Kiemle Hagood 

Jesse Ottele – Newmark Knight Frank 

Wilma Warshak, SIOR – Washington Real Estate Advisors 

UPDATED GUIDANCE FOR COMMERCIAL REAL ESTATE -- SEPTEMBER 16, 2020

Governor Inslee's office recently announced an important change to COVID-19 protocols for Phase 2 counties.

 

In-person activities including showings, inspections, appraisals, and final walk-throughs may now include up to five (5) persons (including the broker). 

 

The prior Phase 2 restrictions limited the number of persons on site to three (3) persons (including the broker). 

 

Please note: Open houses are still NOT permitted in Phase 2 counties. 

 

The other protocols for in-person activities must continue to be followed in all counties, including: 

 

  • In-person activities must be by appointment only;

  • Face coverings are required to be worn at all times by real estate brokers, their clients, and industry partners (e.g. appraisers, inspectors, photographers, stagers, etc.). Brokers may not provide services to any client who does not wear a face covering.

  • The persons on-site must strictly follow social distancing guidelines by remaining at least six feet apart at all times; and

  • The protocols for Phase 1 and 1.5 counties and Phase 3 counties have not changed. Please note that no more than two (2) persons, including the broker, are permitted on-site in Phase 1 and 1.5 counties.

 

As of September 16, 2020:

 

Phase 1 and 1.5 counties include: Benton, Franklin, Yakima, Chelan, and Douglas.

 

Phase 2 counties include: Adams, Clallam, Clark, Cowlitz, Grant, Jefferson, King, Kitsap, Klickitat, Okanogan, Pierce, San Juan, Skagit, Snohomish, Spokane, Walla Walla, and Whatcom.

 

Phase 3 counties include: Asotin, Columbia, Ferry, Garfield, Grays Harbor, Island, Kittitas, Lewis, Lincoln, Mason, Pacific, Pend Oreille, Skamania, Stevens, Thurston, Wahkiakum, and Whitman.

 

 

If you do not know your county's current status, please check the County status and Safe Start application process website.

 

VISIT CBA's COVID-19 RESOURCE PAGE

WE'VE UPDATED OUR PURCHASE & SALE SUITE ON LEGAL LIBRARY PRO

 

We're pleased to announce that we've updated our Purchase & Sale Suite in Legal Library PRO to make them more useful, usable, and flexible in response to requests from the CBA member community.

 

CBA's forms have been reviewed and revised to ensure they meet all legal criteria and best practices. We also changed the format in order to make filling them out easier. 

 

Also, we've produced a video with our legal counsel, Hunter Jeffers from Stoel Rives, to clearly explain the changes that have been made.

 

CLICK HERE TO WATCH OUR VIDEO

 

 

The revised forms include the following:

 

17 - Seller Disclosure Statement-Improved Property

17C - Seller Disclosure Statement-Unimproved Property

22E - Certification Under the Foreign Investment in Real Property Tax ("FIRPTA")

BB-1 - Buyer's Agency Agreement

BU-A - Back-Up Addendum to Purchase and Sale Agreement

CDF - Commission Disbursement Form

EMN - Earnest Money Promissory Note

FMA - Force Majeure Addendum

LOI-PSA - Letter of Intent

LP-LS - Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards

LPB-20 - Short Form Deed of Trust

N-1A - Promissory Note

OTB - Option to Buy Real Estate

PS-1A - Commercial and Investment Real Estate Purchase & Sale Agreement

PS-AS - Assignment and Assumption Agreement

PS-D - CBA Defeasance Addendum

PS-FIN - Financing Addendum

PS-TEC - Tenant Estoppel Certificate

PSA - Addendum/Amendment to Purchase and Sale Agreement

PSR - Rescission of Purchase and Sale Agreement

RC - Recorder's Cover Sheet

SS - Short Sale Addendum

UA - Utility Charges Addendum

VLA - Vacant Land Addendum

XA - Exclusive Agency Sale Listing Agreement

XS - Exclusive Sale Listing Agreement 

 

IMPORTANT NOTE: When adding documents to your transactions, members will receive the newest version(s). This will not affect open transactions, and all of CBA's previous forms are still valid and legal. 

 

LOGIN TO LEGAL LIBRARY PRO NOW

NOW AVAILABLE TO MEMBERS: CBA'S 1ST HALF 2020 VS 1ST HALF 2019 CMA SALES OVERVIEW AND FULL RESEARCH REPORT 

 

CBA's latest CMA Sales Report analyzes monthly and quarterly commercial real estate sales activity and trends at the market and submarket levels through the first 6 months of 2020. We are pleased to offer this detailed analysis and report for your use and interpretation.  

With the rush of commercial property sales in 2019 to beat Washington’s increased Real Estate Excise Tax (REET) taking effect in 2020, in addition to the restrictions on Commercial Real Estate activity due to COVID-19 concerns, CBA anticipated that 2020 sales activity would be negatively impacted. We started a running tally from our database to compare same-month sales by asset class and county from 2019 to 2020.

OVERVIEW

Same month comparisons in the 2nd quarter from 2019 to 2020 showed even bigger declines than in the 1st quarter. April transaction counts from 2019 to 2020 were down 57.9% with sales dollar volume down 76.8%. May showed the biggest drop in transactions year to date, as numbers were down 69.3% compared to May 2019. May 2020 dollar volume received a slight boost from two key deals, Waterscape Juanita Village in Kirkland and Everett 4 Corners Plaza, putting the decline at 62.8%. June 2020 transactions fared better than April or May, showing only a drop of 48.5% compared to June 2019. However, sales dollar volume was the biggest slide of the year, showing an 81.8% decline compared to June 2019. 

Year to date, Multifamily (-80.2%) and Office (-78.1%) continue to show the biggest drops in sales volume, while Retail (-31.9%), Land (-30.4%), and Industrial (-41.2%) are comparatively less impacted. All researched counties except Thurston are down a considerable amount. Thurston is holding onto a positive 12% increase in sales volume compared to the same timeframe in 2019, mainly propped up by a strong January and April.   

CBA researches office, retail, industrial, and land sales, $250,000 or more, in King, Snohomish, Pierce, Spokane, Kitsap, and Thurston counties. Multi-family sales of $250,000+, and 5-units or more are researched in King, Pierce, and Snohomish counties.  All the raw data provided is pulled directly from the CBAcma database.   

For questions about the reports or tutorials on how CBA members can request and use this data, please contact Binh Truong, Director of Market and Sales Data, email, or by phone at 425-952-2727. 

CLICK HERE TO VIEW OUR FULL SALES REPORT

CBA BOARD MEMBER CANDICE CHEVAILLIER HONORED AS ONE OF 48 GLOBEST. REAL ESTATE

FORUM’S WOMEN OF INFLUENCE  

 

We’d like to congratulate CBA Board Member Candice Chevaillier, Principal at NW Multifamily Team at Lee & Associates, on being named as a top CRE Consultant/Advisor in GlobeSt. Real Estate Forum’s Women of Influence edition. Honorees are recognized as outstanding women leaders in the commercial real estate industry. 

 

READ MORE

 


OUR NEW SEARCH PLATFORM IS LIVE!

We're pleased to announce that Phase 1 of our NEW search platform is now available! This phase includes the searching, reporting, and demographic features our members have requested.

Throughout the upcoming phased transition, CBA will run the new Catylist-powered search platform in parallel with our existing platform throughout all three phases to allow you sufficient time to be trained and make full use of its powerful tools.

 

Rest assured that regardless of how you choose to search our listings during our transition period, you’ll see the exact same data and search results across both the new and legacy platforms.

 

BENEFITS OF THE NEW PLATFORM INCLUDE:
 
Powerful, Easy-to-Use Technology
CBA's new, mobile-friendly platform works seamlessly on all browsers and devices, so you can access your listings and marketing tools anytime, anywhere! The platform provides all of the functionality our members have requested and come to expect with a streamlined, intuitive, easy-to-use interface.
 
Local Understanding, National Exposure
By partnering with Catylist, we can give you the best of both worlds: a local service specifically tailored to the needs of your markets, with the benefits of exposure on Commercial Exchange, Catylist's nationwide network.

 

SEARCH OUR NEW PLATFORM NOW! 

WEBINAR TRAINING DATES:

Our new search platform is incredibly intuitive and easy to use, but if you'd like a little help getting started, or want to learn about some of the more sophisticated search tools and functionality, sign up for training!

 

If you need training for your brokerage, we are happy to provide group training for 15 people or more. Please contact us at support@commercialmls.com to schedule a time that meets your needs.

 

As always, our first priority is providing impeccable customer service to our members. If you have any questions or concerns about the transition to the new search platform, please contact us at support@commercialmls.comchat with us, or call us at 800-275-2522.

NEW ENHANCEMENTS MADE TO LEGAL LIBRARY PRO!

 

Based on member feedback and requests, we’re pleased to announce that we have made several enhancements to the functionality of Legal Library PRO.

 

These upgrades are designed to help you search for transactions, create custom templates, fill out and edit forms, and invite users to collaborate more quickly and easily.  

These NEW enhancements Include:

  • Auto-Fill Document Content: Auto-filled content (including Buyer, Seller, Property Address) now displays in both fill out and edit modes. 

  • Quickly Add Documents: You can now select documents and hit “Done” to add them to your transaction without first having to click “Add Documents.” 

  • Add Additional Transaction Details: A new “Document Note” field has been added so you can easily differentiate between forms of the same name — which is particularly helpful with multiple addendums.

  • Customize Templates for Multiple States: Customized templates can now be made for both Washington and Idaho.

  • Invite Users to Collaborate More Easily: Changes have been made to provide additional clarification about access levels for Transaction User and Document User.

  • Search Transactions Faster: Hitting “Enter” will now execute a search, whether you’re searching for a transaction or searching for a form.

LOGIN TO LEGAL LIBRARY PRO 

NOW AVAILABLE TO MEMBERS: CBA'S CMA 2020 VS 2019 DETAILED SALES OVERVIEW AND

FULL RESEARCH REPORT

 

CBA's new CMA Sales Report analyzes quarterly economic and commercial real estate activity and trends at the market and submarket levels. We are pleased to offer this detailed analysis and report for your use and interpretation.

 

With the rush of commercial property sales in 2019 to beat Washington’s increased Real Estate Excise Tax (REET) taking effect in 2020, in addition to the restrictions on Commercial Real Estate activity due to COVID-19 concerns, CBA anticipated that 2020 sales activity would be negatively impacted. We started a running tally from our database to compare same-month sales by asset class and county from 2019 to 2020.  

 

OVERVIEW

The number of transactions from January 2020 compared to 2019 were down 18.7%, and dollar volume was down 69%. February transactions had a 7.8% drop and saw the same drop of 69% in dollar volume. March transactions were down 14.1%, but dollar volume was softened by the retail sale of the former Macy’s department store in downtown Seattle for $68.7m, which made for a more modest decrease of 42.2%. On March 15th, the state-wide COVID-19 shutdown and reduced sales leading up to and throughout April made for the biggest drops to date. April transactions were down 57.9%, and dollar volume was down 76.8%.

 

Overall, the biggest discrepancies in volumes were seen in the Office (-76.3%) and Multi-family (-78%) classes, while the smallest declines in volume were Retail (-14.1%) and Land (-15.2%). Multiple large deals in 2019 greatly affected sales volume disparities, which are listed throughout the report as notable sales.

 

In comparison, 2020 has had only one nine-figure deal with the office sale of Tower 333  in downtown Bellevue for $401.5m. 2020 vs 2019 transactions and dollar volume are negative across all asset classes and counties so far, with the exception of Thurston County, which shows a net positive in sales volume of 38.3%.  

 

CLICK HERE TO VIEW OUR FULL SALES REPORT

NEW! EXCLUSIVE SUBLEASE AGREEMENT ADDED TO LEGAL LIBRARY PRO

In response to our rapidly changing commercial real estate market and in anticipation of shifting member needs, we've added an Exclusive Sublease Agreement to Legal Library PRO.

 

Developed by top commercial real estate experts, Legal Library PRO's contracts are recognized as the industry standard and are the fastest and easiest way to close a deal.

 

CBA members can instantly access and edit any of Legal Library PRO's 100+ copyrighted contracts and forms for Washington and Idaho. Forms include Purchase and Sale Agreements for Commercial Properties as well as Business Opportunities and Lease Agreements.

 

LOGIN NOW TO ACCESS LEGAL LIBRARY PRO

JOIN US FOR A SPECIAL WEBINAR: LIMITATIONS ON COMMERCIAL TENANCIES IN THE TIME OF COVID-19 WITH HUNTER JEFFERS

To learn more about how the Governor's proclamation on commercial tenancies impacts you, attend our webinar regarding the Limitations on Commercial Tenancies in the State of Washington and City of Seattl 

If you were unable to join us for the recent webinar regarding the limitations on commercial tenancies in the state of Washington and the City of Seattle and how they might impact you, we have recorde the webinar. It is now posted to our Youtube Channel and can be found on our COVID-19 Resources page. 

CLICK HERE TO WATCH THE WEBINAR NOW

IMPORTANT MEMO – INTERPRETING & OUTLINING OF EVICTION BANS AND RENT FREEZES IN WASHINTON STATE AND CITY OF SEATTLE 

Attached is the memo from CBA’s legal counsel outlining and interpreting two recent COVID-19 items issued by the state of Washington and City of Seattle affecting landlords and tenants.

 

On April 16, 2020, Governor Inslee issued a proclamation extending and expanding the ban on residential evictions, and placed a freeze on rent increases affecting commercial tenants. On April 17, 2020, Mayor Durkan signed into law the City of Seattle’s new ordinance disallowing evictions and rent increases on small businesses and non-profits.

 

VIEW FULL MEMORANDUM NOW

 

COVID-19 RELIEF UPDATE: WASHINGTON UNEMPLOYMENT BENEFITS NOW AVAILABLE FOR BROKERS/INDEPENDENT CONTRACTORS

Under the federal CARES Act, Washington unemployment benefits are now available for Brokers/Independent Contractors who are impacted by the COVID-19 crisis. 

 

The amount of financial help will vary. If your application is approved, you will be paid at least the minimum weekly benefit amount, and if that amount is at least $1 per week, you will also receive an additional $600 weekly from March 29 to July 25. 

 

CLICK HERE TO LEARN MORE 

COVID-19 RELIEF UPDATE: WASHINGTON UNEMPLOYMENT GUIDELINES FOR BROKERS/INDEPENDENT CONTRACTORS

Our friends at Washington REALTORS® recently provided the following important and timely guidance on applying for Unemployment Assistance in Washington state, and we're sharing this valuable information with our members.

 

GET MORE INFORMATION NOW

IRS EXTENDS TAX DEADLINES: RELIEF FOR 1031 EXCHANGES AND OPPORTUNITY ZONES

On April 9th, the IRS granted deadline relief for both 1031 like-kind exchanges and opportunity zone investments that are already underway. Both of these programs promote economic growth in communities, and the NAR and other CRE advocacy groups successfully argued that investors in these programs should not be harmed due to the effects of COVID-19. Some specifics of the new guidance include:

 

1031 Like-kind Exchanges: If an investor has taken the first step of a like-kind exchange by selling the old property, and either the 45-day or the 180-day deadline falls between April 1 and July 15, the deadline has been extended to July 15. 

 

Opportunity Zones: If investors who sold a capital asset planned to roll over the gain into an Opportunity Fund and the 180-day deadline to do so falls between April 1 and July 15, 2020, they can make the investment as late as July 15. 

 

Estimated Tax Payments: Sole proprietors who pay quarterly estimated taxes now have until July 15 to file their second-quarter payment. Any individual or corporation that has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15, 2020, can wait until July 15 to make that payment, without penalty. 

 

CLICK HERE FOR DETAILED GUIDANCE 

NEW COVID-19 RESOURCES PAGE

To help our members and their clients navigate a rapidly changing and increasingly difficult business climate, we have compiled a list of resources for Brokers, Landlords and Investors, and Commercial Tenants.We will continue to monitor the situation and will update and add to the list as new information becomes available.

 

IMPORTANT:

Please note that while Governor Inslee's Stay Home, Stay Healthy order is in place, the only CRE practice that can be done is that which can be done REMOTELY. 

 

VIEW COVID-19 RESOURCE PAGE

CLARIFYING THE STAY AT HOME, STAY HEALTHY ORDER FOR COMMERCIAL REAL ESTATE

We understand how difficult it is right now for you to conduct your business, and there has been confusion by real estate brokers over recent directives issued by the Governor Inslee.

 

In conjunction with our legal counsel, we have compiled a series of Commercial Real Estate Practitioner FAQ’s related to Washington state’s current “Stay Home Stay Healthy” order that went into effect on Thursday, March 26, 2020 by Governor Inslee.This FAQ also includes clarifications for commercial brokers related to the Governor’s memorandum regarding “Real Estate and Mortgage Guidance” issued on Friday, March 27, 2020.

 

The Governor's memorandum was directed to RESIDENTIAL REAL ESTATE TRANSACTIONS ONLY, NOT COMMERCIAL. We hope this communication helps clarify any questions you have about the orders relative to your business.

 

If you have any questions in the weeks and months ahead, our Executive Team stands ready to assist you personally at (425) 820-3348.

On behalf of the CBA Board of Directors and our staff, we appreciate your continued support and membership of our organization, and we are committed to being a trusted partner and reliable resource to you throughout the course of this emergency, and beyond. 

 

VIEW FAQS 

NEW FORCE MAJEURE AND CLOSING ADDENDUM TO PURCHASE AND SALE AGREEMENT

The Commercial Brokers Association has published a new addendum to help address issues arising from the COVID-19 pandemic. The form, entitled “FMA Force Majeure Addendum,” is posted for use in Legal Library PRO within the Purchase & Sale Forms and is also posted in the List of Contracts. (Note: you must be logged in to the CBA website to view the form.) It may be used in new transactions as an addendum or existing transactions as an amendment to provide for remedies in the event either party is prevented from performing in a transaction due to a force majeure.  

 

“Force majeure” is a French term that translates literally as “superior force.” A “force majeure event” is an event or effect that can be neither anticipated nor controlled. Many contracts contain a force majeure clause allocating risk between parties if the contract becomes impossible or impractical to perform in the event of a force majeure. Common examples of force majeure events include acts of nature, such as floods, earthquakes, hurricanes, tornadoes and the like, and acts of people, such as wars, riots or strikes and, of course, an epidemic/pandemic such as the current pandemic.  

 

DISCUSSION

CBA’s new addendum provides for extensions of contingencies and conditions and the closing date in purchase and sale agreements for a limited amount of time should a force majeure event occur, precluding timely performance. It operates in the same way as the residential addendum recently released for the same purpose by NWMLS.  

 

The addendum provides that, if through no fault of the parties, and by reason of a force majeure event, any contingency or condition in the agreement cannot be timely completed, then all the time periods associated with that contingency or condition (and any related notices and responses thereto) are extended for an amount of time agreed to and stated in the form. 

 

An example may help:  

The parties reach mutual acceptance on March 25, and the buyer has a ten-day inspection/feasibility contingency.

On March 26, a shelter-in-place order goes into effect for two weeks (until April 9) that prevents the selling broker, buyer and inspector from inspecting the property. The parties agree in the addendum that any contingency or condition will be extended for ten days should a force majeure event occur. The original contingency would have expired on Monday, April 6, but the addendum would extend the contingency to April 16, including any related notice and response timeframes.   

 

Obviously, dealing with force majeure events are circumstances unfamiliar to the industry. Calculating the extension of contingency time periods due to a force majeure event may be complicated. Brokers are encouraged to cooperate and work together to ensure that the parties have the same expectations with regard to timelines, and any impact a force majeure event may have. 

The addendum provides that, if through no fault of the parties and by reason of a force majeure event, the sale of the property cannot be timely closed on the Closing Date, the date will be extended for an agreed upon period of time – the “Extended Closing Date.” If the sale of the property cannot be timely closed by the Extended Closing Date, the transaction terminates and the earnest money will be refunded to the buyer.

 

CONCLUSION

CBA recommends that all brokers working on pending transactions consider amending the transaction with this or an equivalent addendum to address force majeure events. Certainly, brokers entering into new transactions should recommend their clients consider a force majeure addendum. 

 

If you have any questions, please call us at (425) 820-3348, send us an email, or start an online chat.

IMPORTANT COVID-19 UPDATE: CBA STAFF WORKING REMOTELY AND ALL IN-PERSON CLASSES CANCELED UNTIL FURTHER NOTICE

At the Commercial Brokers Association, we're concerned about the impact of the COVID-19 virus on our staff and our members and have been following the rapidly changing situation closely.

Due to the local impact of the COVID-19 pandemic and our need to keep our employees and their loved ones as safe and as healthy as possible, CBA’s staff will be working remotely until further notice. We are also canceling ALL in-person classes. 

CBA has the technology and phone systems infrastructure to ensure all our services, support, and applications will run smoothly during this time. Our members should not notice any difference in support or interruptions in our services.

We will reschedule canceled classes at a later date if feasible. If you registered for a canceled class, you received a message directly from our Education Manager, Kristin Austin. Please email or call Kristin at 425-952-2739 about options to reschedule, use your credits for a future class, or obtain a refund.

If you have signed up for a class or event through one of our managed associations, please visit the association website directly for updates on their classes and events.

For classes and events scheduled after April 30, 2020, please remember to check our full schedule for up-to-date information BEFORE you leave to attend.

CBA DATA AND ANALYSIS FEATURED IN PUGET SOUND BUSINESS JOURNAL

 

CBA’s CMA data and analysis on commercial property sales over the past 10+ years was recently featured in the Puget Sound Business Journal's Real Estate section. This underscores the quality of our data and terrific work done by the entire staff.

Watch for additional data and analysis from our team in future editions!

The numbers highlighted are for King, Pierce, and Snohomish counties. To see a more in-depth version that also contains Kitsap, Spokane, and Thurston counties, click here

DRIVE TRAFFIC TO YOUR LISTING AS A FEATURED PROPERTY 

 

Featured Properties get front page, above-the-fold promotion on our website, which means they are one of the first things people see and they get increased click-throughs! 

 

We offer one-week and four-week packages. Members who sign up for four weeks can switch out their listings once a week.

 

To sign up, fill out our order form today! 

IMPORTANT UPDATE: CBA'S ANNUAL MEETING CANCELLED

 

UPDATED APRIL 3, 2020:

Due to the extension of Governor Inslee's Stay Home, Stay Healthy order, we will not be rescheduling our Annual Meeting.
 
We are disappointed that we couldn't meet with our members in person, but we're providing the presentation slides so you can stay informed about CBA's progress in 2019 and learn more about our goals and plans for the future.
 
 
 

If you have any questions, please call us at (425) 820-3348, send us an email, or start an online chat.

The Commercial Brokers Association, like the general public, is concerned about the impact of the Coronavirus. Today, the Washington State Department of Health recommended that businesses not hold public meetings.

Out of an abundance of caution, we are canceling the Thursday, March 5th meeting. We will reschedule at a later date if feasible. If we’re unable to schedule in a reasonable timeframe, we will share relevant information with our members via email.  

SEE YOU AT LEGISLATIVE DAY 2020!   

Join CBA, WSCAR and WA REALTORS® as we take part in Legislative Day!

 

This annual event is an opportunity for REALTOR® members to join their local and state association on the Hill, talk with our elected representatives and to present a unified voice advocating for property owners and their rights throughout Washington State.

 

Online registration is closed, but you can still register in person at the event.

 

Jan. 22, 7 a.m. – Jan. 23, 8 p.m.

 

The Hotel RL Olympia

2300 Evergreen Park Drive SW

Olympia, WA 98502

HAVE YOU PURCHASED YOUR CBA FLEX PASS?

 

Ring in the new year by getting a head start -- and saving some cash -- on your 2020 education!

Back by popular demand, and exclusively for CBA members, we are continuing to offer our 4-Class Flex-Pass for our live classes. Use it now and throughout 2020 to attend classes that match your interests and career goals.

 

Earn continuing education credits for your biennial license renewal, add to your skills and knowledge, and network with colleagues. Good for 3-hour and 4-hour classes only.

 

$250 CBA Members Only

 

For more details, contact us at register@commercialmls.com or 800-275-2522.

 

GET A FLEX PASS NOW

WE'RE CONSIDERING MAKING A MOVE IN 2021 -- AND WE NEED YOUR HELP!

 

As CBA continues to improve and expand the products and services we offer to our members, we have also begun to outgrow our space. The current configuration is limiting, and the building’s physical constraints have triggered an interest in considering alternative options. We’re considering renewal options with our existing landlord, but we also want to understand the full range of available options in the current market. Our lease will expire on July 31, 2021. 

We understand and appreciate that our Members and Board of Directors are collectively interested in the well being of CBA. Together, you are a professionally sophisticated resource that is uniquely capable of considering and vetting alternative Lease-Purchase-Partnership opportunities.  

 

Therefore, we are requesting responses to an RFP from qualified and capable real estate owners, investors, developers, and other property owners who believe that they have a facility and/or a property concept that would accommodate CBA’s requirements.   

 

We encourage any and all of our members to participate in the RFP process to ensure we consider the broadest possible array of opportunities.  

 

We look forward to reviewing any and all legitimate responses to this RFP. All proposals will be reviewed and analyzed by a select committee of CBA board members and executive leadership as to their ability to accommodate CBA’s requirement. At their discretion, CBA plans to select the proposal(s) that appear to best meet their needs, and CBA will then commence discussions with those proposers accordingly while communicating with other proposers appropriately.  

 

All responses must be received by 5:00 p.m. on January 31st, 2020.  

 

REVISED FORMS 17 AND 17C RELEASED JANUARY 2, 2020

 

In response to recent Washington State legislation, CBA has released revised versions of Form 17 and Form 17C.  

Please note that there were NO changes to Form 17 Commercial.

The Seller Disclosure Statement for Improved Property (Form 17) and for Unimproved Property (Form 17C) has been updated to reflect upcoming revisions to the Seller Disclosure Act (RCW 64.06). 

Log on to Legal Library PRO now to access the new forms.

HAPPY HOLIDAYS!

 

Warmest wishes from all of us at CBA to all our members and friends! We hope you have a chance to step back, slow down and enjoy the holiday season.

 

To that end, our offices will be closed from December 24th through January 1st, reopening on January 2nd at 8:00 a.m.. Our staff will be checking email and voicemail daily and will respond promptly to any immediate needs.

We look forward to serving you in 2020!

HAVE YOU UPDATED YOUR HOTSHEETS?

 

Taking the time to update your hotsheets during the slow holiday season will set you up for success in 2020!

If you're new to CBA and our services, our online hotsheets tool sends you notifications of new listings from the previous day that match your search criteria. 

Get a quick intro (or refresher) in our online tutorial.

For any questions, please reach out with the Live Support Chat

WE'VE MADE SOME UPGRADES TO OUR WEBSITE! 

 

In response to member feedback, we’ve restructured our content into clearly defined tabs that align directly with each of our products and services. Our updated navigation now includes:

 

  • A new “Research & Listings” tab

  • A new “Events & Education” tab

  • A new “Membership” tab

 

NEW! RESEARCH & LISTINGS

 

You can now find everything related to searching listings; adding new listings; viewing new lease, sales and business opportunities; running reports; and marketing your current listings in one centralized location. All Training & Reference Guides and FAQs related to research and listings are also found in this section.

 

 

NEW! EDUCATION & EVENTS

 

We’ve added a new section to make it easier to find information about upcoming events and classes, stay up to date with member news, and sign up for online classes through our partnership with the CE Shop.

 

 

NEW NAME! MEMBER NETWORK

 

Need to contact fellow CBA members or affiliated CRE businesses like appraisers and lenders? We've renamed "Find People" to "Member Network." Click on Member Network and then choose the appropriate member type to search. Your address book is also still found here.

 

 

NEW! MEMBERSHIP

 

We’ve streamlined our membership information to help those looking to join CBA do so more easily, and to help our current members find forms and information about adding broker, affiliate and appraiser members to your office. If you need to update or change any membership information for your office, be sure to use the current forms conveniently located here.

 

It’s also the place where you’ll find information about Member Rules, Bylaws, Association Management, and Arbitration Services.

 

 

FEEDBACK

 

As always, our first priority is providing impeccable customer service to our members. If you have any questions or concerns about the upgrades to the website or have feedback about the new design, please click here to share your thoughts or tell us about any additional improvements you’d like to see.

Congratulations, 2019 SIOR Brokers of the Year!

 

We’d like to congratulate all of the SIOR Brokers of the Year winners, awarded and announced as part of NAIOP’s Night of the Stars event. A special shout out goes to our winning CBA members: 

 

SIOR 2019 Investment Team of the Year: Jason Rosauer, Rob Anderson, Kristyn Krueger Team – Kidder Mathews
Finalists:

Ross Klinger – Kidder Mathews

Eli Hanacek – CBRE
 
SIOR 2019 Office Broker of the Year: Jesse Ottele – Newmark Knight Frank
Finalists:

Greg Inglin – Colliers International

Michael Dash – CBRE
 
SIOR 2019 Industrial Broker of the Year: Matt McGregor – Colliers International
Finalists:

Matt Wood – Kidder Mathews

Arie Salomon – NAI Puget Sound Properties

 

To view all of this year’s winners, click here.

Understanding the Lease-commission Process

 

The lease-commission process can be complicated. As a member-owned association, one of our fundamental missions is to ensure member cooperation and fair compensation. To achieve this, it’s vital that all members follow the proper listing entry process to avoid misunderstandings about commissions.


ALWAYS PROPERLY DETAIL THE LEASE OFFICE COMMISSION ON YOUR CBA LEASE LISTING 


In “GENERAL LISTING INFORMATION,” in the box titled “Leasing Ofc Com*,” the listing broker must enter the amount the procuring broker will receive. It is essential that both sides of the deal publish and understand the correct information. Make sure you always confirm and clarify information as we are not always able to protect your commission.  


LISTING BROKER: 
 

FILL OUT THE COMMISSION INFORMATION FOR YOUR LISTING AS FULLY AS POSSIBLE. When filling out your commission information, the comment box only allows for 60 characters. Include as much information as possible in the entry field. For example:

 

 

*To review Rule X.1.a regarding Division of Commissions, click here.

 

CLARIFY YOUR TERMS. If your lease commission terms exceed the limits of the commission information field, please use the CBA Member Listing Comments to include full details about the commission.

 

 

BOTH COOPERATING BROKERS 

 

COMMUNICATE CLEARLY ABOUT YOUR COMMISSIONS WELL BEFORE THE CLOSE OF THE DEAL. Remember that you should always follow up with your cooperating broker to confirm your commission information before the deal is signed and executed. It’s important to understand and agree upon what you are getting paid! 

Keep Your Listing Status Up To Date

 

To maintain an accurate database that helps our members be more productive and successful, it is vital that members do their part to keep the status of their listings up to date. 

FIRST: Make Sure You Enter the Correct Listing Status

Active: An active status is an On-Market status and should be used when a valid listing exists and no offer (with or without contingencies) has been accepted. 

Pending: A pending status means the seller or lessor has accepted an offer from a buyer or lessee, but the deal hasn't closed yet. CBA members must change the status of a property to pending the minute a contract is executed.  

THEN: Keep Your Listings Up to Date

Once you've submitted your listings, you also must keep those listings up to date. This means promptly removing listings that are no longer active and updating a listing's status as soon as that status changes.

Members also must warrant that their listings and any changes to their listings accurately reflect the original listings and any changes to the listings.

Please visit our Member Rules page if you need additional information.

CBA Member Listings Now Receive National Exposure!

 

One of many benefits you receive as a CBA member is national exposure through our partnership with Commercial Exchange (CE), a national commercial real estate marketplace. Commercial Exchange brings together sale and lease availabilities sourced directly from brokers in Catylist’s network of 50+ local commercial real estate platforms in markets across the country. 

When you post a listing to the CBA database, your listing is automatically added to CE, at no extra charge. This information, just like on the CBA website, is always verified and up to date. 

What does this mean for you? If someone in another state or country is looking for a property with criteria that matches yours, they’ll see your listing and can easily access your contact information. And if your client wants to look at properties elsewhere in the nation, you can find up-to-date, verified listings that meet their needs, as well. 

To visit the CE database, click here.

The New Flex-Pass

 

Beginning in 2019, we are offering the new Flex-Pass for our live classes: Get 4 CBA classes of your choice for only $250! The Flex-Pass will save you money as you earn CE credits and add to your skills and knowledge.

Learn More!

 

Apartment Analytics


Are you needing to research apartment building sales in the region..? We’re here to help! CBA provides members commercial marketing analytics on apartment sales since 2000 in King, Pierce, and Snohomish counties, including all 5+ unit market rate apartment properties that are arms-length transactions.

Apartment cma

Updating Listings

Looking to update the property record for your listing?

We can help! You can update photos and the rest of your CBA listings by submitting your request through Suggest Revision, found on the right side of My Active Listings, and our research staff will make the changes for you.


Make Deals Using CBA! 

 

As a CBA member you have full access to a searchable database of CBA members, associates, and affiliate businesses. This gives you the chance to meet and make deals with others in CRE (such as developers, property owners, and lawyers) and expand your business.

Connect Today!

Legal Library

As a CBA member you have access to our Legal Library, over 60 market-standard contracts and legal forms for Washington and Idaho. These are developed and maintained by our legal counsel, and are widely recognized as the commercial industry standard.

Improving Your Experience

CBA is constantly making improvements to our site and services, some big and some small, and usually in response to your feedback.

One recent tweak that you've asked for is a time-saving feature allowing you to upload photos for your sale and lease listings at a property at the same time.

You can now do this in the "Upload Photo to Additional Listings" feature in the Media Manager.

Go to one of your listings and give it a try!

United Way's Day of Caring

CBA is closed Friday, September 14, so that our staff can help with United Way's Day of Caring, the largest volunteer event in the state, to give back to our community.

CBA staff will be working to help restore Juanita Beach.  

We will return to regular business hours on Monday, September 17.

Required Code of Ethics Course

If you haven't already, ALL realtors must take 2.5 Hours of Code of Ethics training before December 31, 2018.
Can't remember if you've already taken the training? Email WaRealtor or call the new phone number at 1.800.562.6024.

There are two options for the course:
Code of Ethics Course with CE Credit - $25
Code of Ethics Course w/o CE Credit – Free

CBA members can also get a discount promo code on the CE course when accessing The CE Shop through the CBA website.

Tips & Tricks Webinar

Looking for basic info on how to use our site, or needing a refresher on tips and tricks? Our new training webinar, for Members Only, highlights the most commonly used features of our site and services.

This one-hour session is bi-weekly, 11:00 AM – Noon, beginning August 9.
The first half of the webinar focuses on searching CBA’s site for listings, creating Hot Sheets, and broadcasting e-blasts. The second half focuses on adding, editing, and managing listings and their media content.

Register today!

Support is now easier than ever to find

Support is now part of the main navigation at the top of our website, and we have just added new How-To Guides, YouTube videos, and in-depth FAQs so that you can get tips on how to use our site at your own pace.

And as always, CBA Members continue to have access to our live support during regular business hours, too.
 

Did You Know?
 

Members cannot post listings for which they do not have a signed exclusive agreement. They also cannot post marketing materials branded with any non-member or non-brokerage.


From our Rules & Regulations:


I 14. Courtesy Listings. CBA will not accept courtesy listings from other multiple listing services and/or non-members. I 15. Non-Member Listings. No member or participating agent shall cause a listing of a non-member within their office/ownership to be submitted to CBA. The fine for violation of this Rule is the amount of the then current CBA membership dues for the non-member for one year. All services for the member may be terminated for three months, at which time the offending member office must make application for membership and pay an application fee per the then current fee schedule.

For more about our Rules & Regulations, go here.

Did You Know?

It is the obligation of all CBA members to confirm that all of their exclusive listings have been submitted in accordance with the Rules and Regulations and all statuses are up to date.

Go here to review our Rules & Regulations.
 

Online Learning

Are you working on renewing your RE license?

CBA has partnered with The CE Shop to give our members access to over 25 hours of pre-approved online Commercial Real Estate CE courses anytime, anywhere.

And when you enroll through our website you get discounts on registration.

Sign up today!
 

Letter from CBA's Board of Directors

 

The Board of Directors of the Commercial Brokers Association is pleased to announce the hiring of Mr. Chris McDougall as its new President and CEO. He replaces Michelle Mills Clement, who recently accepted a position as the CEO of the Chicago Association of Realtors.

Mr. McDougall is a veteran commercial real estate industry leader with extensive experience in research, data, brokerage, and technology. Most recently Chris was head of Enterprise Information Management for North America at Colliers International, where his team was responsible for numerous strategic data, research, and business intelligence initiatives. Previous roles include Vice President of Information Management at LoopNet, where he was an integral part of the team who developed one the largest commercial real estate property databases in the US at the time, and National Director of Research & Client Services at Grubb & Ellis Company, where he led a team of 100 research and marketing professionals across 45 offices. McDougall also has experience in commercial real estate brokerage and transactions, having been a key member of ATREG, Inc., a boutique, Seattle-based firm specializing in the disposition of semiconductor manufacturing assets, including clean room facilities, industrial buildings, and land.

“We are extremely excited to have Chris leading our organization” stated Jeff Johnson, SIOR, CCIM, and Chairman of the CBA Board of Directors. “Our Mission at CBA is to increase the productivity of our members, and his background in IT, Research, and Brokerage makes him uniquely qualified to run CBA. He is a strong leader who truly understands what it’s like to be a broker, and the ever-changing technology and research trends in our industry.”

Michelle Mills Clement expressed confidence in the board’s choice. “Chris’ depth of knowledge and experience in commercial real estate data and technology, along with his dedication to the brokerage industry, really made him a solid choice for the role. I’m very happy with the search committee’s decision, and I’m confident Chris will continue CBA’s position as the largest and most robust commercial real estate MLS association in the country while taking it to the next level.”

McDougall started his new role on Monday, March 19th.

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