In response to the COVID-19 pandemic, SIOR has developed a Snapshot Sentiment Survey to assess the impact of the virus on SIOR members' current transactions as well as their level of confidence in local markets six months from now. So far, six of these assessments have been completed, beginning in April 2020. An overview of the results can be found below, with the full report available on the SIOR Thought Leadership page.
For September 2020, survey respondents shared the following:
- Market confidence remains highest with industrial brokers, almost consistently outpacing office counterparts in all regions (6.9 for industrial, compared to 6.0 for office overall). Exceptions include even reporting in the Central region, and office brokers in the Southwest region reporting higher confidence.
- Highest confidence is reported by industrial brokers in the Global, Mid-Atlantic, and Southeast regions. Lowest is reported by industrial and office brokers in Canada and office brokers in the Northeast region.
- Differences between independent and large firm/network brokers are negligible overall (6.5 and 6.6, respectively). The largest differentials between large firm/network brokers and independents are found in the Global, Central, and Mid-Atlantic regions.
In comparison to the August 2020 Sentiment Survey results:
- Overall, market confidence held steady, with only the slightest dip from 6.58 to 6.57 (on a 10-point scale).
- Regionally, there were some wide swings in confidence by segment. Industrial brokers in the Canadian region noted a huge drop in confidence (down from 7.7 to 5.0) and significant gains in confidence for office brokers in the Central, Northwest, and Southwest regions.
- Comparing confidence regionally by large firm/network brokers against independent brokers, the biggest changes were in Canada. Confidence plummeted with firm/network brokers by 2.7, dropping 7.0 to 4.3 with independent brokers in the same region noting a marked increase of 1.2, rising from 5.8 to 7.0.
To download the full report, visit the SIOR Thought Leadership page.