Hey folks! It’s February, and we wanted to try something a little different, because let’s be honest - we don’t really expect you to want to read about us every. single. month. What we’ve decided to do is bring in an industry expert each month and pick their brain on a few things our readers have been wondering about. We’re interested to know what you think and how we can further better the content we deliver to you - so be sure to get in touch and let us know.

This month, we sat down with Carlisle Norwood of Full Circle Realty. Check it out.

Q1: First off Carlisle, thanks for taking the time! Let’s hop right into it. What does a commercial real estate broker do? 

A: Thanks for having me! Absolutely. For simplicity’s sake, commercial real estate brokers facilitate lease negotiations between landlords and tenants, as well as the purchase and sale of multi-residential, industrial, office, and retail properties. A broker is an expert in the field, and must have a strong understanding of financial calculations, negotiations, attention to detail, and market knowledge.  

Q2: What is the difference between a commercial real estate deal, and buying a house? 

A: In theory, both transactions are the same, as they’re each a transfer of ownership. However, commercial deals tend to be more complex (in terms of conditions, environmental, financing, etc.), and based more on financial calculations and economics (Cap rates, ROI, etc.) and on less on emotion. 

Q3: How do you see the role of VR playing in the future of commercial real estate? 

A: Commercial real estate is typically an old-school industry that is resistant to change, often opting to use traditional strategies that are already proven to work. However, that’s beginning to change in Halifax. From a sales and marketing perspective, VR is very exciting. Most notably, it allows developers to showcase their finished product during pre-construction, strengthening leasing and sales from an earlier stage of the project. As the technology becomes more ubiquitous, the market will see its value, it’s only a matter of time. 

Q4: Tell us about your brokerage, Full Circle Realty Inc.

A: Full Circle Realty Inc. is not a traditional brokerage. We are young, energetic, and we embrace new to market technology like VR. We are a full-service brokerage with expertise in commercial, residential, and property management. Check out our website at www.fullcirclerealty.ca. 

If you want to join us on our blog, don’t hesitate to reach out. We’re always looking to meet new people 😀