June 26, 2024 – 2024 Southwest Region Meeting – Del Mar Races
The SVN Vanguard Southwest Region Conference delivered a day filled with valuable insights, networking opportunities, and a deep dive into the latest trends and developments in the commercial real estate industry. Here’s the breakdown of emerging topics covered throughout the conference.
Breakfast by Rise Southern Biscuits and Righteous Chicken
The day kicked off with a delicious breakfast courtesy of Rise Southern Biscuits and Righteous Chicken. This gave our SVN advisors the perfect opportunity to get to know each other and network within SVN’s Southwest Region circle.
This was a key part of the day because it opened up the opportunity for brokers to team up with others and close deals across state lines to utilize our national network in the future.
A special thanks to all the SVN branches who made it out to San Diego:
Joe Bonin, Managing Director, San Diego led the opening remarks, introducing the other SVN Managing Directors and setting the stage for the day’s events, providing an overview of the conference’s objectives and the value it offers to its attendees.
Managing Directors:
Joe Bonin on QSR Business Automation
The first conversation consisted of Joe Bonin (Managing Director, SVN San Diego) explaining the importance and intricacies of Quick Service Restaurants (QSRs) and how their pivoting business model can have a future impact on the employment industry.
The main QSR discussed during this conversation was about the quick rise to popularity of Rise Southern Biscuits and Righteous Chicken. If you haven’t tasted it, we suggest you do! Ever since 2020, the restaurant scene has been ever changing and Rise is ahead of the curve on this drastic change. By implementing technology to streamline the ordering and pickup process for customers, Rise has been able to severely cut down operational costs and increase profitability of their restaurant.
By having customers simply order through Rise’s app, they are able to cut down waiting times substantially and collect valuable marketing information that can be implemented into their advertising systems and automations for each individual customer. Will QSR’s become the new norm within the service industry due to their low cost of operation and lower liability risks?
What do you think? Are QSRs the future?
Ryan Ward on How to Set Up Buildout Grids
The next speaker was Ryan Ward, a seasoned Senior Advisor for SVN Vanguard and a well-respected multifamily broker within the San Diego market. Ryan provided valuable insights into the challenges advisors face in the multifamily industry, particularly highlighting the complexities involved in evaluating and underwriting multifamily properties.
Ryan emphasized the shift away from traditional methods, such as meticulously crafted Excel sheets, which have long been the standard for property valuation. He introduced a new, innovative approach on Buildout’s platform that streamlines the evaluation process, making it more efficient and accurate, while having the ability to implement real-time numbers your client might suggest. Ryan’s method leverages advanced technology and data analytics to assess the value of properties, providing a more comprehensive and nuanced understanding of the market.
By adopting this new methodology, advisors can now evaluate properties with greater precision and confidence, considering factors that might have been overlooked in the past. This approach not only saves time but also enhances the accuracy of valuations, ultimately benefiting both advisors and their clients. Ryan’s presentation underscored the importance of embracing modern tools and techniques in a rapidly evolving industry, paving the way for more informed decision-making and better client outcomes.
Patrick Millay on the Impact of Insurance Changes to Both Tenants and Landlords
Patrick discussed the recent changes in insurance policies and the implications for both tenants and landlords. This conversation explored how these changes could affect businesses and how SVN can offer strategies to navigate the evolving insurance landscape.
One of the key highlights of Patrick’s presentation was the introduction of SVN Vanguard’s Master Insurance Program. This innovative program is designed to assist brokers within the Southwest Region in providing substantial cost-saving solutions to business and property owners. By consolidating vetted property owners into a portfolio of assets, the Master Insurance Program enables these owners to benefit from reduced insurance costs.
The program works by leveraging the collective strength of multiple properties, allowing participants to access more favorable insurance rates and terms that might not be available to individual property owners. This not only helps lower the overall insurance expenses but also offers comprehensive coverage tailored to the specific needs of the included properties.
This program represents a significant opportunity for our Advisors to pitch SVN Vanguard’s services (property management and brokerage) to potential clients, positioning the firm as a valuable partner in managing and optimizing insurance costs. The Master Insurance Program exemplifies SVN Vanguard’s commitment to providing innovative and practical solutions supporting the financial well-being of their clients.
Product Breakout Session
Attendees participated in four breakout groups, each focused on a different asset type: Office, Retail, Industrial, and Multifamily. These breakout sessions provided a platform for in-depth discussions about the unique challenges and opportunities associated with each asset class across various markets, including San Diego, Las Vegas, Phoenix, and Orange County.
Across all breakout groups, there was a shared understanding of the importance of adapting to market changes and leveraging local market knowledge to capitalize on opportunities. The sessions provided valuable insights and actionable strategies for participants to apply within their own markets, reinforcing SVN Vanguard’s commitment to fostering collaboration and innovation in the commercial real estate industry.
