Originally by Miguel de Arcos

I am asked almost daily the same question, “How’s business?” Whether it’s a peer, client, friend or someone I just met, once they know I am in commercial real estate I instantly become their barometer for the economy. Some genuinely want to know, but most are looking for a glimmer of hope that they can take home to help sleep more soundly.

My standard answer is “Our activity has picked up immensely in the past 4 months. In fact, I have not been this busy since the 06/07 boom years.” I then start my next sentence with “unfortunately” and you can almost hear their bubble of hope bursting. “Unfortunately, I cannot say we’re so busy for positive economic reasons, but because banks are starting to work through their balance sheets, agree to short sales, take back non-performing assets and selling their REOs.” 80% of our workload is from the sale of distressed assets like short sales and bank owned properties(foreclosures.) The other 20% is leasing.
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