In response to the virus scare we are taking very intentional and specific action to protect those around us. We also are in a business that we can work remotely without fear of loss of impact. It does however change how we manage staff. We are learning right now and seeking to serve our clients first!
We are actively working with Microsoft Teams, Asana, Facetime and other team oriented tools to maximize productivity and not lose the positive momentum we had prior. There is some level of focus that we have away from a very busy office that could increase our ability to be efficient with our actions and study the markets.
At this time our clients with shorter term operating businesses have seen very dramatic shifts and not all in a negative light. The demand for services and product has been very high for some and dramatically lower for others. Our clients that work in much longer horizons have seen some time delays in product delivery but overall are assuming a stabilizing effect coming this year and therefore are continuing to push forward with responding to the growth and demand they are experiencing. Those that can postpone decisions are, but many are also taking advantage of the substantial reduction in interest rates over the past couple weeks.
Overall we are expecting a very mixed response depending on the sector of business that you are in.
We are still believing in the underlying fundamental strength of the market to keep the overall real estate strong. In addition to this the brick and mortar nature of our business, it has given some investors a confidence to flee towards hard assets. The economy that is likely to come from this shift will include increasing work from home and delivery related consumption. Software, technology, apps and Amazon. Actual consumed products will remain in demand. Those items we don’t require will have short term drop off. The level of backed up demand will be something that will be difficult to quantify and will be a more of a watch and see.
Stick with us as we post updates and articles on where we see the market going and as we reflect on the changes we see happening every single day!