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February 26, 2016

Lack of contractors and politics: These are the challenges Seattle's real estate industry faces

Puget Sound Business Journal

Melissa Crowe

The Puget Sound region is growing fast and that's good news for the region's real estate brokerages

Kidder Mathews ranks No. 1 in this week's Puget Sound Business Journal list, which ranks commercial real estate firms by the number of licensed, full-time, local brokers.

The firm reported 167 licensed brokers in the Puget Sound region and that they sold or leased more than 45 million square feet of property in 2015.

A spokesperson for the firm said the biggest challenge facing the real estate industry is that regional economies are no longer insulated from global turmoil.

"Our biggest challenge is that the U.S. economy is no longer the only factor determining the condition of the nation's regional economies. The health of the country's regional economies (e.g. Puget Sound) is now affected by the global economy. When other countries suffer, we feel the effect."

Other brokerages cited presidential politics, transportation concerns and the lack of available space as challenges. To get a sense of what brokerages are up against, click on the slideshow below.

To see who ranked in the Top 25 this year and how they previously ranked, check out the list below, or click here.

For the full story, go to Puget Sound Business Journal.

© 2016 American City Business Journals. All rights reserved.

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