Reality Check... Do you trust your broker's research reports? Ward Caswell, U.S. Director of Information Management at CB Richard Ellis, sure hopes that you do. Last week Caswell sent me the premier edition of CBRE's Industrial Insight (Midyear 2004), a 20-page report on U.S. and Canadian industrial markets.

Filled with economic statistics, historical trend lines and local market data, the report aggregates the experience of CBRE professionals across North America. "...Overall, growth remains positive, particularly in markets such as the Inland Empire, Central and Northern New Jersey and, to a lesser extent, the large Chicago industrial marketplace. Few major markets could be considered overbuilt, with the possible exceptions of Atlanta and Dallas...."

The report is free, and CBRE will distribute it widely. In fact, by demonstrating deep industrial knowledge, CBRE expects that it will be a good marketing tool. Naturally, CBRE brokers will use it to enhance business relationships.

But you could pay for an industrial market study from an independent real estate research firm like Torto Wheaton Research (coincidentally owned by CBRE). Quoting from its web site, "TWR provides rigorous, insightful and reliable market knowledge to clients in order to manage risk and maximize returns." Sounds similar to what a broker might say.

So when should you rely upon your broker for market insights? And when should you retain the services of an independent real estate research firm? What's your advice?

Spread the Word... Many thanks to Shlomo Chopp at Simple Remote for sponsoring this week's Dispatch. Simple Remote helps real estate companies "centralize and manage every document efficiently." If you would like to tell Dispatch readers about your services, please call me at 415-461-4703 or send e-mail.

--Peter Pike